C211 Attempt #2 Study Set (100% Error-free Answers)

The resource-based view of global business differs from the institution-based view of global business in that the resource-based view _____. correct answers focuses on the internal strengths on the firm The _____ of globalization suggests that globalization is neither recent nor one-directional. correct answers pendulum view Globalization can be viewed as: correct answers 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 answers 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 answers France has a comparative advantage in wine. Free trade is defined as: correct answers 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 answers Cultural distance Protectionism is similar to mercantilism as they both advocated _____. correct answers government involvement in international trade The _____ principle advocated that governments should actively protect domestic industries from imports and vigorously promote exports. correct answers protectionism The _____ theory is based on the assumption that the wealth of the world is fixed. correct answers mercantilism OLI advantages refer to a firm's quest for _____via FDI. correct answers ownership advantages, location advantages, and internalization advantages Firms prefer FDI to licensing because FDI_____. correct answers provides the firm with direct ownership to its foreign assets Which of the following is a benefit of FDI to home countries? correct answers Learning from operations