Question 1

Between 1990 and 2003,college tuition went up 130 percent,which is __________ the increase in the prices of housing,gasoline,and medical care.

Accepted Answer

College tuition went up considerably more than the increase in the prices of housing, gasoline, and medical care.

Question 2

One study from the United Kingdom (cited in the textbook)showed that almost ______ times as many firms that faced global competition reported innovations in product or process compared to firms that did not face global competition.

Accepted Answer

The study indicated that firms facing global competition were three times more likely to report innovations in product or process compared to those not facing such competition.

Question 3

Which of the following statements is true?

Accepted Answer

Economists are fairly certain that globalization leads to an increased standard of living.

Question 4

Which of the following statements is false?

Accepted Answer

Income per person has actually increased in both China and India over the past few decades, as these countries have experienced significant economic growth and development through their engagement with globalization.

Question 5

Economist David Friedman has compared free international trade to

Accepted Answer

Economist David Friedman has compared free international trade to a technology, specifically the discovery of the printing press. He argues that just like how the printing press made knowledge accessible to everyone, free international trade makes goods and services accessible to everyone at lower prices and improved quality.

Question 6

North Korea has ____________ the process of globalization,while South Korea has _______________ it.A likely result of this is that South Koreans have a much ______________ standard of living than North Koreans.

Accepted Answer

The answer of North Korea has ____________ the process of...

Question 7

Which of the following statements is false?

Accepted Answer

The statement is false. The Chinese government's purchase of U.S. government bonds actually lowers interest rates in the United States, as it increases the supply of funds available for lending.

Question 8

Between 1940 and 2000,income per person in China

Accepted Answer

According to the World Bank, income per person in China increased from $89 in 1940 to $379 in 2000, which is a quadrupling of income.

Question 9

The problems of physical distance can be _____________ by technology which can serve to ___________ trade.

Accepted Answer

The word "reduced" fits well in the first blank because physical distance can be a barrier to trade, and technology can help reduce that barrier. The word "enhance" fits well in the second blank because technology can improve trade by making it faster, more efficient, and more accurate. Therefore, option B "reduced;enhance" is the best choice.

Question 10

It is often easier to see the ___________ of globalization than it is to see the _____________.This is because the costs tend to be more ________________,while the benefits tend to be __________________.

Accepted Answer

The statement suggests that the costs of globalization are more concentrated, meaning they affect specific groups of people or regions, while the benefits are widely dispersed, meaning they are spread out among many people or regions. Therefore, option A, which states that the costs are concentrated and the benefits are dispersed, is the best choice.

Question 11

In 2000,the top 100 transnational companies produced about _____________ percent of the entire world's output.

Accepted Answer

In 2000, the top 100 transnational companies were responsible for producing approximately 4.3 percent of the entire world's output.

Question 12

_______________ is the practice of hiring people in other countries to do a job that was once done domestically.

Accepted Answer

Offshoring refers to the practice of hiring people in other countries to do a job that was once done domestically. This is done to save costs, take advantage of lower labor costs in other countries, and gain access to a larger pool of skilled workers. Onshoring, insourcing, and megasourcing do not refer to the same practice as offshoring.

Question 13

Between 1980 and 2000,income per person in India

Accepted Answer

According to the World Bank, between 1980 and 2000, income per person in India doubled.

Question 14

Economists are fairly confident that globalization leads to a(n)_____________ standard of living based on their comparisons of countries with __________________ characteristics.

Accepted Answer

Economists have found that countries that integrate into the global economy tend to experience higher standards of living, as they can benefit from increased trade, investment, and access to new technologies and ideas. These benefits tend to be more pronounced when countries are similar in terms of economic development, institutions, and policies, which allows them to take advantage of shared opportunities and mitigate common challenges. However, there are also risks and downsides to globalization, such as increased competition, inequality, and environmental degradation, which can affect different countries and groups in different ways.

Question 15

If an economy's exports are $600 billion and its imports are $750 billion,its net exports are

Accepted Answer

Net exports are calculated as exports minus imports. Therefore, in this case, net exports would be $600 billion minus $750 billion, which equals -$150 billion. The negative sign indicates that the country is importing more than it is exporting, which is a trade deficit.

Question 16

In 2000,the top 100 transnational companies produced about _____________ percent of the entire world's output,which was approximately as much as what ________________ produced that year.

Accepted Answer

The answer of In 2000,the top 100 transnational companies produced...

Question 17

Some of the benefits of globalization include

Accepted Answer

All of the benefits listed - increased international trade, greater income per person, lower prices for goods, and greater product variety - are a result of globalization. As countries open themselves up to trade and interact more closely with others, they are able to access more markets, increase production, and enjoy the benefits of specialization and economies of scale. This leads to greater prosperity for individuals and nations alike.

Question 18

The end of the Cold War is generally marked by the fall of the Berlin Wall in

Accepted Answer

The correct choice is D because the fall of the Berlin Wall marked a symbolic end to the division of Europe and the beginning of the collapse of the Soviet Union. This historic event occurred on November 9, 1989, and is widely considered to be the pivotal moment that led to the end of the Cold War.

Question 19

The _____________ the size of the potential customer base for a given product (for example,music),the ______________ is the variety of goods we are likely to see.

Accepted Answer

The answer of The _____________ the size of the potential...

Question 20

Between 1977 and 2004,the inflation-adjusted prices for an array of goods traded between countries __________ while the inflation-adjusted prices for an array of goods not traded between countries _____________________.

Accepted Answer

The statement suggests that between 1977 and 2004, the prices of traded goods fell when adjusted for inflation, while the prices of non-traded goods increased. Therefore, the best choice is A, where the first part of the statement is matched with 'fell' in option A, and the second part of the statement is matched with 'increased' in option A.

Quiz 23: International Finance

Between 1990 and 2003,college tuition went up 130 percent,which is __________ the increase in the prices of housing,gasoline,and medical care.

One study from the United Kingdom (cited in the textbook) showed that almost ______ times as many firms that faced global competition reported innovations in product or process compared to firms that did not face global competition.

Which of the following statements is true?

Which of the following statements is false?

Economist David Friedman has compared free international trade to

North Korea has ____ the process of globalization,while South Korea has _ it.A likely result of this is that South Koreans have a much ________ standard of living than North Koreans.

Which of the following statements is false?

Between 1940 and 2000,income per person in China

The problems of physical distance can be ___ by technology which can serve to _ trade.

It is often easier to see the _____ of globalization than it is to see the _.This is because the costs tend to be more ,while the benefits tend to be ________.

In 2000,the top 100 transnational companies produced about _____________ percent of the entire world's output.

_______________ is the practice of hiring people in other countries to do a job that was once done domestically.

Between 1980 and 2000,income per person in India

Economists are fairly confident that globalization leads to a(n) _ standard of living based on their comparisons of countries with ______ characteristics.

If an economy's exports are $600 billion and its imports are $750 billion,its net exports are

In 2000,the top 100 transnational companies produced about _ percent of the entire world's output,which was approximately as much as what ____ produced that year.

Some of the benefits of globalization include

The end of the Cold War is generally marked by the fall of the Berlin Wall in

The _ the size of the potential customer base for a given product (for example,music) ,the __ is the variety of goods we are likely to see.

Between 1977 and 2004,the inflation-adjusted prices for an array of goods traded between countries while the inflation-adjusted prices for an array of goods not traded between countries ___________.

Quiz 23: International Finance

Between 1990 and 2003,college tuition went up 130 percent,which is __________ the increase in the prices of housing,gasoline,and medical care.

One study from the United Kingdom (cited in the textbook) showed that almost ______ times as many firms that faced global competition reported innovations in product or process compared to firms that did not face global competition.

Which of the following statements is true?

Which of the following statements is false?

Economist David Friedman has compared free international trade to

North Korea has ____________ the process of globalization,while South Korea has _______________ it.A likely result of this is that South Koreans have a much ______________ standard of living than North Koreans.

Which of the following statements is false?

Between 1940 and 2000,income per person in China

The problems of physical distance can be _____________ by technology which can serve to ___________ trade.

It is often easier to see the ___________ of globalization than it is to see the _____________.This is because the costs tend to be more ________________,while the benefits tend to be __________________.

In 2000,the top 100 transnational companies produced about _____________ percent of the entire world's output.

_______________ is the practice of hiring people in other countries to do a job that was once done domestically.

Between 1980 and 2000,income per person in India

Economists are fairly confident that globalization leads to a(n) _____________ standard of living based on their comparisons of countries with __________________ characteristics.

If an economy's exports are $600 billion and its imports are $750 billion,its net exports are

In 2000,the top 100 transnational companies produced about _____________ percent of the entire world's output,which was approximately as much as what ________________ produced that year.

Some of the benefits of globalization include

The end of the Cold War is generally marked by the fall of the Berlin Wall in

The _____________ the size of the potential customer base for a given product (for example,music) ,the ______________ is the variety of goods we are likely to see.

Between 1977 and 2004,the inflation-adjusted prices for an array of goods traded between countries __________ while the inflation-adjusted prices for an array of goods not traded between countries _____________________.

North Korea has ____ the process of globalization,while South Korea has _ it.A likely result of this is that South Koreans have a much ________ standard of living than North Koreans.

The problems of physical distance can be ___ by technology which can serve to _ trade.

It is often easier to see the _____ of globalization than it is to see the _.This is because the costs tend to be more ,while the benefits tend to be ________.

Economists are fairly confident that globalization leads to a(n) _ standard of living based on their comparisons of countries with ______ characteristics.

In 2000,the top 100 transnational companies produced about _ percent of the entire world's output,which was approximately as much as what ____ produced that year.

The _ the size of the potential customer base for a given product (for example,music) ,the __ is the variety of goods we are likely to see.

Between 1977 and 2004,the inflation-adjusted prices for an array of goods traded between countries while the inflation-adjusted prices for an array of goods not traded between countries ___________.