WGU C211 Attempt #2 Study Set questions with correct answers

The resource-based view of global business differs from the institution-based view of global business in that the resource-based view _____. CORRECT ANSWER focuses on the internal strengths on the firm The _____ of globalization suggests that globalization is neither recent nor one-directional. CORRECT ANSWER pendulum view Globalization can be viewed as: CORRECT ANSWER ALL OF THESE ANSWERS - a new force sweeping through the world in recent times; a long-run historical evolution since the dawn of human history; a pendulum that swings from one extreme to another from time to time. According to the theory of absolute advantage, under free trade, CORRECT ANSWER Each nation gains by specializing in economic activities in which a nation has absolute advantage. Chile requires 50 units of resource to produce one ton of wine and 20 units of resource to produce one ton of blueberries. France requires 30 units of resource to produce one ton of wine and 40 units of resource to produce one ton of blueberries. Which of the following is true? CORRECT ANSWER France has a comparative advantage in wine. Free trade is defined as: CORRECT ANSWER The idea that market forces should determine how much to trade with little or no government intervention. Which of the following is NOT a nontariff trade barrier (NTB)? CORRECT ANSWER Cultural distance Protectionism is similar to mercantilism as they both advocated _____. CORRECT ANSWER government involvement in international trade The _____ principle advocated that governments should actively protect domestic industries from imports and vigorously promote exports. CORRECT ANSWER protectionis