QUESTION Gerald bought his son, David, a computer two years ago. Recently, he decided to buy his daughter, Julian, a computer of her own. In the context of the two-year gap between the purchase of both the computers and Moore’s law, it is most likely that: A. Gerald paid a higher price for Julian’s computer. […]
Date: September 3rd, 2020
QUESTION While the lowering of trade barriers made globalization of markets and production a theoretical possibility, which of the following has made it a tangible reality? A. The advances in communication, information processing, and transportation technologies B. The rise of communism and the need for independent economies on a global scale C. The increasing diversity […]
Date: September 3rd, 2020
QUESTION Richard purchased a computer for $600 in 2014. Compared to the $900 computer that he had purchased way back in 2010, the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology. This is best explained by: A. product liability. B. property […]
Date: September 3rd, 2020
QUESTION Which of the following is most likely to be observed in today’s global economy? A. Increasing U.S. share of world output B. Large U.S. entrepreneurial firms dominating the international business scene C. Increasing U.S. dominance in the world economy and world trade picture D. Most of the nations being governed by centrally planned economies […]
Date: September 3rd, 2020
QUESTION The advent of containerization has: A. made the economies of the world’s nation-states less intertwined. B. made moving goods from one mode of transport to another extremely labor-intensive. C. significantly lowered the costs of shipping goods over long distances. D. slowed down the globalization of markets and production. E. increased costs of coordinating and […]
Date: September 3rd, 2020
QUESTION Which of the following countries has seen a relative decline in its share of world output between 1960 and 2012? A. United States B. Thailand C. Japan D. China E. South Korea ANSWER A In the early 1960s, the United States was still by far the world’s dominant industrial power. In 1960, the […]
Date: September 3rd, 2020
QUESTION Which of the following has seen a positive change from 1960 to 2012? A. Growth of the centrally planned economies of the communist world B. U.S. position in the world economy and world trade picture C. The share of world output enjoyed by rich industrialized countries such as Great Britain, Germany, and Japan D. […]
Date: September 3rd, 2020
QUESTION Who, along with representatives from the European Union and the European Central Bank, represent the 19 largest economies in the world on the G20? A. Finance ministers and central bank governors B. Presidents and defense ministers C. Prime ministers and army chiefs D. International trade ministers E. Ministers of foreign affairs ANSWER A […]
Date: September 3rd, 2020
QUESTION Due to the changing economic geography, many of tomorrow’s economic opportunities are most likely to be found in the: A. rich industrialized nations of the world like Great Britain and Germany. B. centrally planned economies of the communist world. C. United States. D. developing nations of the world such as China, India, and Brazil. […]
Date: September 3rd, 2020
QUESTION Michelle, an Italian fashion designer, sells her merchandise by exporting them to the United States, United Kingdom, and Brazil. According to this information, Michelle is most likely involved in: A. foreign direct investment. B. globalization of production. C. international trade. D. multinational enterprise. E. outsourcing. ANSWER C International trade refers to the exporting […]
Date: September 3rd, 2020
