HTM 2314 QUIZ 1 QUESTIONS AND
ANSWERS ALL CORRECT
After WWII, the advanced industrial nations of the West committed themselves to
increasing barriers to the free-flow of goods, services, and the capital between nations -
Answer-false - Having learned from past experience, the advanced industrial nations of
the West committed themselves after World War II to progressively reducing barriers to
the free flow of goods, services, and capital among nations.
The Uruguay Round extended GATT to cover services as well as manufactures goods -
Answer-true
The lowering of trade and investment barriers allows firms to base production at the
optimal location for that activity - Answer-true
The globalization of markets and production and the resulting growth of world trade,
foreign direct investment, and imports all imply that firms are finding it easier to protect
themselves from attack by foreign competitors - Answer-false - The globalization of
markets and production and the resulting growth of world trade, foreign direct
investment, and imports all imply that firms are finding their home markets under attack
from foreign competitors.
Moore's Law predicts that every 18 months, the power of microprocessor technology
decreases, while its cost of production increases - Answer-false - The cost of
microprocessors continues to fall, while their power increases (a phenomenon known as
Moore's law, which predicts that the power of microprocessor technology doubles and
its cost of production falls in half every 18 months).
A multinational enterprise (MNE) is any business that exports goods or services to
consumers in another country - Answer-false
-it's a business that has productive activities in 2 or more countries
Which of the following has been reduced as a result of globalization? - Answer-
differences in material culture
What is the shift toward a more integrated and interdependent world economy called? -
Answer-globalization
ANSWERS ALL CORRECT
After WWII, the advanced industrial nations of the West committed themselves to
increasing barriers to the free-flow of goods, services, and the capital between nations -
Answer-false - Having learned from past experience, the advanced industrial nations of
the West committed themselves after World War II to progressively reducing barriers to
the free flow of goods, services, and capital among nations.
The Uruguay Round extended GATT to cover services as well as manufactures goods -
Answer-true
The lowering of trade and investment barriers allows firms to base production at the
optimal location for that activity - Answer-true
The globalization of markets and production and the resulting growth of world trade,
foreign direct investment, and imports all imply that firms are finding it easier to protect
themselves from attack by foreign competitors - Answer-false - The globalization of
markets and production and the resulting growth of world trade, foreign direct
investment, and imports all imply that firms are finding their home markets under attack
from foreign competitors.
Moore's Law predicts that every 18 months, the power of microprocessor technology
decreases, while its cost of production increases - Answer-false - The cost of
microprocessors continues to fall, while their power increases (a phenomenon known as
Moore's law, which predicts that the power of microprocessor technology doubles and
its cost of production falls in half every 18 months).
A multinational enterprise (MNE) is any business that exports goods or services to
consumers in another country - Answer-false
-it's a business that has productive activities in 2 or more countries
Which of the following has been reduced as a result of globalization? - Answer-
differences in material culture
What is the shift toward a more integrated and interdependent world economy called? -
Answer-globalization
