WGU C211 - Global Economics for Managers exam with answers

WGU C211 - Global Economics for
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Managers exam with answers |\ |\ |\




Views on Globalization - CORRECT ANSWERS ✔✔New,
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Evolutionary, and Pendulum |\ |\




"New" view on globalization - CORRECT ANSWERS ✔✔A
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force sweeping through the world in recent times.
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"Evolutionary" view on globalization - CORRECT ANSWERS |\ |\ |\ |\ |\ |\



✔✔A long-run historical evolution since the dawn of
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human history |\




"Pendulum" view on globalization - CORRECT ANSWERS
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✔✔One that swings from one extreme to another from
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time to time
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Foreign Direct Investment - CORRECT ANSWERS ✔✔Direct
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investment in, control, and management of value-added
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activities in other countries |\ |\ |\




Political views on FDI - CORRECT ANSWERS ✔✔Radical
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View, Free Market View, Pragmatic Nationalism
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,Benefits to a country receiving FDI - CORRECT ANSWERS
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✔✔Capital Inflow, Technology Spillover, Advanced
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Management Know-How, Job creation |\ |\ |\




Costs to a country receiving FDI - CORRECT ANSWERS
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✔✔Loss of Sovereignty, Adverse effects on competition,
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Capital outflow. |\




How do resources and capabilities influence the
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competitive dynamics of a business? - CORRECT |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔Resource similarity and market|\ |\ |\ |\ |\



commonality can yield a powerful framework for |\ |\ |\ |\ |\ |\ |\



competitor analysis. |\




Resource similarity - CORRECT ANSWERS ✔✔The extent
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to which a given competitor possesses strategic
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endowment comparable, in terms of both type and |\ |\ |\ |\ |\ |\ |\ |\



amount, to those of the focal firm.
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How does resource similarity impact competitive
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dynamics? - CORRECT ANSWERS ✔✔Firms with a high
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degree are likely to have similar competitive actions.
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(Starbuck's instant coffee & McDonald's iced coffee) |\ |\ |\ |\ |\ |\

, Classical theories of international trade - CORRECT
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ANSWERS ✔✔Mercantilism, Absolute advantage, and
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Comparative advantage |\




Modern theory view - CORRECT ANSWERS ✔✔Dynamic
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Classical theory view - CORRECT ANSWERS ✔✔Static
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Absolute advantage - CORRECT ANSWERS ✔✔The
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economic advantage one nation enjoys that is superior to
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other nations
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Comparative advantage - CORRECT ANSWERS ✔✔The |\ |\ |\ |\ |\ |\



advantage one economic activity nation enjoys in
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comparison with other nations (relative, not absolute)
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Mercantilism - CORRECT ANSWERS ✔✔A theory that |\ |\ |\ |\ |\ |\ |\



suggests that the wealth of the world is fixed and that a
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nation that exports more and imports less will be richer.
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Features of the product life cycle? - CORRECT ANSWERS
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✔✔New, Maturing, and Standardized
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