WGU C211 focus questions from Global Economics for Managers Test Bank| Verified & Updated

Globalization can be viewed as: - ️️1. a new force sweeping through the world in recent times. 2. a long-run historical evolution since the dawn of human history. 3. a pendulum that swings from one extreme to another from time to time. Which are the three views of globalization? - ️️A recent force, a long-running evolution, and a pendulum An import quota is: - ️️restriction on the quantity of imports that can be brought into a country. Examples of nontariff trade barrier (NTB) - ️️Import quotas Local content requirements Subsidies Free trade is defined as: - ️️The idea that market forces should determine how much to trade with little or no government intervention. political argument against free trade - ️️Consumer protection National security Environmental and social responsibility