FVC1 WGU
# Term Definition
1 Which of the following is a Answer: Culture
characteristic of globalization? A.
Tax Law B. Trade Negotiations C.
Culture D. Transparency
2 How do major international Answer: By creating an international monetary
institutions facilitate globalization? system
A. By raising trade barriers B. By
creating an international
monetary system C. By placing
tariffs on imported goods D. By
enacting stringent labor laws E. By
weakening their currencies
3 What do countries with politicians Answer: A competitive market structure
that sustain transparency in global
competition tend to have? A. Firms
that resist globalization B. A slow
free enteprise system C. A
competitive market structure D. A
system of poor checks and
balances
4 What helps make globalization Answer: Transparency in government policy
sustainable? A. Transparency in
government policy B. Rising
shipping price C. Restrictive Laws
D. Limited intellectual property
laws
5 What do property rights enable Answer: Conduct transactions with the high
buyers and sellers to do? A. degree of trust
Conduct transactions with the
high degree of trust B. Name
buildings after them C. Improve
their quality of life D. Increase
currency taxes
6 How has technology bridged the Answer: By decreasing communication cost
global digital divide? A. By limiting
who has access to the Internet B.
By decreasing communication
cost C. By increasing stagnant
wages D. By causing job loss
, FVC1 WGU
# Term Definition
7 Economist have argued that Answer: By increasing productivity
national policies should be
implemented to help retrain and
educate workers. How might
these efforts affect the displaced
workers? A. By increasing
productivity B. By capping the
level of competitiveness C. By
increasing unemploymet D. By
reducing wages
8 What is one argument against Answer: Jobs will be lost
globalization? A. Economic control
increase B. Collaborative trading
will occur C. Jobs will be lost D.
New industries will develop
9 Which of the following may lead to Answer: The right to import and export goods
an increase in the standard of freely
living, according to free-trade
theory? A. The right to import and
export goods freely B. Increased
taxes on goods and services C.
Increased inflation D. Laws
against importing and exporting
goods
10 How does foreign direct (FDI) Answer: By creating inflows of capital from
create jobs and enhance skills of abroad
workers? A. By generating losses
from capital B. By selling
companies C. By increasing tax
policies D. By creating inflows of
capital from abroad
11 Workers from Poland are free to Answer: Comparative Advantage
work in the United Kingdom to fill
shortages there. What is this
scenario an example of? A.
Comparative Advantage B.
Absolute surplus C. Specialization
D. Trade surplus E. Factor price
equalization
# Term Definition
1 Which of the following is a Answer: Culture
characteristic of globalization? A.
Tax Law B. Trade Negotiations C.
Culture D. Transparency
2 How do major international Answer: By creating an international monetary
institutions facilitate globalization? system
A. By raising trade barriers B. By
creating an international
monetary system C. By placing
tariffs on imported goods D. By
enacting stringent labor laws E. By
weakening their currencies
3 What do countries with politicians Answer: A competitive market structure
that sustain transparency in global
competition tend to have? A. Firms
that resist globalization B. A slow
free enteprise system C. A
competitive market structure D. A
system of poor checks and
balances
4 What helps make globalization Answer: Transparency in government policy
sustainable? A. Transparency in
government policy B. Rising
shipping price C. Restrictive Laws
D. Limited intellectual property
laws
5 What do property rights enable Answer: Conduct transactions with the high
buyers and sellers to do? A. degree of trust
Conduct transactions with the
high degree of trust B. Name
buildings after them C. Improve
their quality of life D. Increase
currency taxes
6 How has technology bridged the Answer: By decreasing communication cost
global digital divide? A. By limiting
who has access to the Internet B.
By decreasing communication
cost C. By increasing stagnant
wages D. By causing job loss
, FVC1 WGU
# Term Definition
7 Economist have argued that Answer: By increasing productivity
national policies should be
implemented to help retrain and
educate workers. How might
these efforts affect the displaced
workers? A. By increasing
productivity B. By capping the
level of competitiveness C. By
increasing unemploymet D. By
reducing wages
8 What is one argument against Answer: Jobs will be lost
globalization? A. Economic control
increase B. Collaborative trading
will occur C. Jobs will be lost D.
New industries will develop
9 Which of the following may lead to Answer: The right to import and export goods
an increase in the standard of freely
living, according to free-trade
theory? A. The right to import and
export goods freely B. Increased
taxes on goods and services C.
Increased inflation D. Laws
against importing and exporting
goods
10 How does foreign direct (FDI) Answer: By creating inflows of capital from
create jobs and enhance skills of abroad
workers? A. By generating losses
from capital B. By selling
companies C. By increasing tax
policies D. By creating inflows of
capital from abroad
11 Workers from Poland are free to Answer: Comparative Advantage
work in the United Kingdom to fill
shortages there. What is this
scenario an example of? A.
Comparative Advantage B.
Absolute surplus C. Specialization
D. Trade surplus E. Factor price
equalization
