WGU C211 Pre-Assessment Exam latest update 2023/2024

WGU C211 Pre-Assessment Exam Which view claims that the phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through multinational enterprise? - answerThe new-force view Economic gains come from international trade because one country's exported goods, services, or other items are unique, valuable, and difficult to duplicate to the importing countries. Which view does this statement portray? - answerResource-based view What is the aggregation of importing and exporting that leads to the country-level trade surplus or deficit? - answerBalance of trade What is a cost of foreign direct investment? - answerDeveloping countries may be exploited by multinational enterprises (MNE). What may precious, rare, and hard-to-duplicate resources and capabilities lead to for a firm? - answerSustained comparative advantage Which theory states that patterns of international trade change across new, maturing, and standardized states? - answerProduct life cycle theory What is the financial environment in which exchange rates and payments for goods and services are conducted? - answerInternational monetary system What happens to a country's real exchange rate and nominal interest rate as the price level increases, assuming all other factors are unchanged? - answerExchange rates depreciate; interest rates increase What is the easiest method nonfinancial companies use to handle currency fluctuations? - answerCurrency diversification Which strategy minimizes the risk of unanticipated changes in future exchange rates? - answerCurrency swap A company is looking for a location with an abundance of ground-breaking individuals, firms, and universities. Which type of strategic goal is this company demonstrating? - answerInnovation-seeking What advantage comes with not sharing benefits with late entrants? - answerFirst-mover advantage Which entry mode is a non-equity arrangement for a company entry into a foreign market? - answerLicensing What size commitment is required for a non-equity mode of entry into a foreign market? - answerSmall commitment What are two supportive pillars for an informal institution? - answerCognitive, Normative What is the key role of an institution, according to the institution-based view? - answerTo reduce uncertainty What are the rules, enforcement mechanisms, and organizations that support market transactions? - answerInstitutions What is a core proposition underpinning an institutional-based view of global business? - answerBounded rationality In which type of political system do citizens elect representatives to govern the country on their behalf? - answerDemocracy Which legal system uses comprehensive lists of rules and written codes? - answerCivil law What are the legal privileges associated with the use of economic property to obtain income and other benefits from its use? - answerProperty rights What is the purpose of having property rights and intellectual property rights? - answerTo legally protect the use of tangible and intangible property and allow its lawful owner to derive income and other benefits from it. What are the two polar types of economies? - answerCentrally planned economies, Market economies In addition to encouraging efficiency, why might a government intervene in a market? - answerTo promote equality