C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
ability-to-pay principle - (ANSWER)the idea that taxes should be levied on a person according to how
well that person can shoulder the burden
absolute advantage - (ANSWER)The economic advantage one nation enjoys that is absolutely superior to
other nations.
absorptive capacity - (ANSWER)The ability to recognize the value of new information, assimilate it, and
apply it.
accommodative strategy - (ANSWER)A strategy characterized by some support from top managers, who
may increasingly view CSR as a worthwhile endeavor.
accounting profit - (ANSWER)total revenue minus total explicit cost
acquisition - (ANSWER)A transfer of the control of operations and management from one firm (target) to
another (acquirer), the former becoming a unit of the latter.
acquisition premium - (ANSWER)The difference between the acquisition price and the market value of
target firms.
adaptability - (ANSWER)The ability to change supply chain configurations in response to longer-term
changes in the environment and technology.
Administrative policies - (ANSWER)Bureaucratic rules that make it harder to import foreign goods.
Adverse selection - (ANSWER)the tendency for the mix of unobserved attributes to become undesirable
from the standpoint of an uninformed party
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
agency costs - (ANSWER)The costs associated with principal-agent relationships.
agency relationship - (ANSWER)The relationship between principals (such as shareholders) and agents
(such as professional managers).
Agency theory - (ANSWER)A theory that focuses on principal-agent relationships (or in short, agency
relationships).
Agent - (ANSWER)A person (such as manager) to whom authority is delegated.
agglomeration - (ANSWER)Clustering of economic activities in certain locations.
aggregate-supply curve - (ANSWER)a curve that shows the quantity of goods and services that firms
choose to produce and sell at each price level
Agility - (ANSWER)The ability to react quickly to unexpected shifts in supply and demand.
Alignment - (ANSWER)Alignment of interests of various players.
Andean Community - (ANSWER)A customs union in South America that was launched in 1969.
antidumping duties - (ANSWER)Tariffs levied on imports that have been "dumped" (selling below costs to
"unfairly" drive domestic firms out of business).
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
Antidumping law - (ANSWER)Law that makes it illegal for an exporter to sell goods below cost abroad
with the intent to raise prices after eliminating local rivals.
antitrust law - (ANSWER)Law that outlaws cartels (trusts).
antitrust policy - (ANSWER)Government policy designed to combat monopolies and cartels.
APEC - (ANSWER)The official title for regional economic integration involving 21 member economies
around the Pacific.
appreciation - (ANSWER)an increase in the value of a currency as measured by the amount of foreign
currency it can buy
Arrow's impossibility theorem - (ANSWER)a mathematical result showing that, under certain assumed
conditions, there is no scheme for aggregating individual preferences into a valid set of social
preferences
Asia-Pacific Economic Cooperation (APEC) - (ANSWER)The official title for regional economic integration
involving 21 member economies around the Pacific.
Association of Southeast Asian Nations (ASEAN) - (ANSWER)The organization underpinning regional
economic integration in Southeast Asia.
attack - (ANSWER)An initial set of actions to gain competitive advantage.
Australia-New Zealand Closer Economic Relations Trade Agreement (ANZCERTA/CER) - (ANSWER)A free
trade agreement between Australia and New Zealand that was launched in 1983.
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
Automatic stabilizers - (ANSWER)changes in fiscal policy that stimulate aggregate demand when the
economy goes into a recession without policymakers having to take any deliberate action
Average fixed cost - (ANSWER)fixed cost divided by the quantity of output
average revenue - (ANSWER)total revenue divided by the quantity sold
average tax rate - (ANSWER)total taxes paid divided by total income
average total cost - (ANSWER)total cost divided by the quantity of output
average variable cost - (ANSWER)variable cost divided by the quantity of output
balance of payments - (ANSWER)A country's international transaction statement, which includes
merchandise trade, service trade, and capital movement.
balance of trade - (ANSWER)The aggregation of importing and exporting that leads to the country-level
trade surplus or deficit.
balance sheet approach - (ANSWER)A compensation approach that balances the cost of living differences
relative to parent country levels and adds a financial inducement to make the package attractive.
balanced trade - (ANSWER)a situation in which exports equal imports
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
ability-to-pay principle - (ANSWER)the idea that taxes should be levied on a person according to how
well that person can shoulder the burden
absolute advantage - (ANSWER)The economic advantage one nation enjoys that is absolutely superior to
other nations.
absorptive capacity - (ANSWER)The ability to recognize the value of new information, assimilate it, and
apply it.
accommodative strategy - (ANSWER)A strategy characterized by some support from top managers, who
may increasingly view CSR as a worthwhile endeavor.
accounting profit - (ANSWER)total revenue minus total explicit cost
acquisition - (ANSWER)A transfer of the control of operations and management from one firm (target) to
another (acquirer), the former becoming a unit of the latter.
acquisition premium - (ANSWER)The difference between the acquisition price and the market value of
target firms.
adaptability - (ANSWER)The ability to change supply chain configurations in response to longer-term
changes in the environment and technology.
Administrative policies - (ANSWER)Bureaucratic rules that make it harder to import foreign goods.
Adverse selection - (ANSWER)the tendency for the mix of unobserved attributes to become undesirable
from the standpoint of an uninformed party
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
agency costs - (ANSWER)The costs associated with principal-agent relationships.
agency relationship - (ANSWER)The relationship between principals (such as shareholders) and agents
(such as professional managers).
Agency theory - (ANSWER)A theory that focuses on principal-agent relationships (or in short, agency
relationships).
Agent - (ANSWER)A person (such as manager) to whom authority is delegated.
agglomeration - (ANSWER)Clustering of economic activities in certain locations.
aggregate-supply curve - (ANSWER)a curve that shows the quantity of goods and services that firms
choose to produce and sell at each price level
Agility - (ANSWER)The ability to react quickly to unexpected shifts in supply and demand.
Alignment - (ANSWER)Alignment of interests of various players.
Andean Community - (ANSWER)A customs union in South America that was launched in 1969.
antidumping duties - (ANSWER)Tariffs levied on imports that have been "dumped" (selling below costs to
"unfairly" drive domestic firms out of business).
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
Antidumping law - (ANSWER)Law that makes it illegal for an exporter to sell goods below cost abroad
with the intent to raise prices after eliminating local rivals.
antitrust law - (ANSWER)Law that outlaws cartels (trusts).
antitrust policy - (ANSWER)Government policy designed to combat monopolies and cartels.
APEC - (ANSWER)The official title for regional economic integration involving 21 member economies
around the Pacific.
appreciation - (ANSWER)an increase in the value of a currency as measured by the amount of foreign
currency it can buy
Arrow's impossibility theorem - (ANSWER)a mathematical result showing that, under certain assumed
conditions, there is no scheme for aggregating individual preferences into a valid set of social
preferences
Asia-Pacific Economic Cooperation (APEC) - (ANSWER)The official title for regional economic integration
involving 21 member economies around the Pacific.
Association of Southeast Asian Nations (ASEAN) - (ANSWER)The organization underpinning regional
economic integration in Southeast Asia.
attack - (ANSWER)An initial set of actions to gain competitive advantage.
Australia-New Zealand Closer Economic Relations Trade Agreement (ANZCERTA/CER) - (ANSWER)A free
trade agreement between Australia and New Zealand that was launched in 1983.
, C211 Global Economics FINAL EXAM 2025 GRADED A+
(CERTIFIED)|COMPLETE QUESTIONS AND ANSWERS |100% RATED
CORRECT!!
Automatic stabilizers - (ANSWER)changes in fiscal policy that stimulate aggregate demand when the
economy goes into a recession without policymakers having to take any deliberate action
Average fixed cost - (ANSWER)fixed cost divided by the quantity of output
average revenue - (ANSWER)total revenue divided by the quantity sold
average tax rate - (ANSWER)total taxes paid divided by total income
average total cost - (ANSWER)total cost divided by the quantity of output
average variable cost - (ANSWER)variable cost divided by the quantity of output
balance of payments - (ANSWER)A country's international transaction statement, which includes
merchandise trade, service trade, and capital movement.
balance of trade - (ANSWER)The aggregation of importing and exporting that leads to the country-level
trade surplus or deficit.
balance sheet approach - (ANSWER)A compensation approach that balances the cost of living differences
relative to parent country levels and adds a financial inducement to make the package attractive.
balanced trade - (ANSWER)a situation in which exports equal imports
