WGU C211 - Global Economics for Managers Exam with ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
verified detailed answers
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Views on Globalization - correct answer✔✔New, Evolutionary, and Pendulum
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"New" view on globalization - correct answer✔✔A force sweeping through the world in
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recent times. ||\\|//||
"Evolutionary" view on globalization - correct answer✔✔A long-run historical evolution ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
since the dawn of human history ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
"Pendulum" view on globalization - correct answer✔✔One that swings from one extreme ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
to another from time to time
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Foreign Direct Investment - correct answer✔✔Direct investment in, control, and
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management of value-added activities in other countries ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Political views on FDI - correct answer✔✔Radical View, Free Market View, Pragmatic
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Nationalism
Benefits to a country receiving FDI - correct answer✔✔Capital Inflow, Technology||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Spillover, Advanced Management Know-How, Job creation ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Costs to a country receiving FDI - correct answer✔✔Loss of Sovereignty, Adverse effects
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
on competition, ||\\|//|| ||\\|//||
Capital outflow. ||\\|//||
,How do resources and capabilities influence the competitive dynamics of a business? -
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correct answer✔✔Resource similarity and market commonality can yield a powerful
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
framework for competitor analysis. ||\\|//|| ||\\|//|| ||\\|//||
Resource similarity - correct answer✔✔The extent to which a given competitor possesses
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
strategic endowment comparable, in terms of both type and amount, to those of the focal
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firm.
How does resource similarity impact competitive dynamics? - correct answer✔✔Firms
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
with a high degree are likely to have similar competitive actions. (Starbuck's instant coffee
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
& McDonald's iced coffee)
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Classical theories of international trade - correct answer✔✔Mercantilism, Absolute
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
advantage, and Comparative advantage ||\\|//|| ||\\|//|| ||\\|//||
Modern theory view - correct answer✔✔Dynamic ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Classical theory view - correct answer✔✔Static ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Absolute advantage - correct answer✔✔The economic advantage one nation enjoys that is
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superior to other nations ||\\|//|| ||\\|//|| ||\\|//||
Comparative advantage - correct answer✔✔The advantage one economic activity nation ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
enjoys in comparison with other nations (relative, not absolute)
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Mercantilism - correct answer✔✔A theory that suggests that the wealth of the world is ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
fixed and that a nation that exports more and imports less will be richer.
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Features of the product life cycle? - correct answer✔✔New, Maturing, and Standardized
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, Strategic trade - correct answer✔✔Intervention by governments in certain industries can ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
enhance their odds for international success. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
How are supply and demand related to the exchange rate of a country? - correct
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answer✔✔The price of a commodity, a country's currency, is fundamentally determined by ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
this. Strong demand leads to price hikes; oversupply results in price drops.
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Which theory came first? - correct answer✔✔Mercantilism (although both are of the idea
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that governments should actively protect domestic industries from imports and vigorously
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
promote exports) ||\\|//||
If a company seeks to limit foreign exchange rate exposure in the forward direction, what
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
is the most effective way to do this? - correct answer✔✔Forward transactions, an act know
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
as currency hedging.||\\|//|| ||\\|//||
Transaction risk - correct answer✔✔The exchange rate risk associated with the time delay ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
between entering into a contract and settling it. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Hedging - correct answer✔✔A transaction, such as forward transactions, that protects ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
traders and investors from exposure to the fluctuations of the spot rate. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Currency hedging - correct answer✔✔A way to protect traders and investors from being ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
exposed to the fluctuations of the spot rate ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Strategic hedging - correct answer✔✔A means of spreading out activities in different ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
currency zones in order to offset the currency losses in certain regions through gains in ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
other regions (currency diversification) ||\\|//|| ||\\|//|| ||\\|//||
verified detailed answers
||\\|//|| ||\\|//|| ||\\|//||
Views on Globalization - correct answer✔✔New, Evolutionary, and Pendulum
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
"New" view on globalization - correct answer✔✔A force sweeping through the world in
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
recent times. ||\\|//||
"Evolutionary" view on globalization - correct answer✔✔A long-run historical evolution ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
since the dawn of human history ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
"Pendulum" view on globalization - correct answer✔✔One that swings from one extreme ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
to another from time to time
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Foreign Direct Investment - correct answer✔✔Direct investment in, control, and
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
management of value-added activities in other countries ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Political views on FDI - correct answer✔✔Radical View, Free Market View, Pragmatic
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Nationalism
Benefits to a country receiving FDI - correct answer✔✔Capital Inflow, Technology||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Spillover, Advanced Management Know-How, Job creation ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Costs to a country receiving FDI - correct answer✔✔Loss of Sovereignty, Adverse effects
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
on competition, ||\\|//|| ||\\|//||
Capital outflow. ||\\|//||
,How do resources and capabilities influence the competitive dynamics of a business? -
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
correct answer✔✔Resource similarity and market commonality can yield a powerful
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
framework for competitor analysis. ||\\|//|| ||\\|//|| ||\\|//||
Resource similarity - correct answer✔✔The extent to which a given competitor possesses
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
strategic endowment comparable, in terms of both type and amount, to those of the focal
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
firm.
How does resource similarity impact competitive dynamics? - correct answer✔✔Firms
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
with a high degree are likely to have similar competitive actions. (Starbuck's instant coffee
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
& McDonald's iced coffee)
||\\|//|| ||\\|//|| ||\\|//||
Classical theories of international trade - correct answer✔✔Mercantilism, Absolute
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
advantage, and Comparative advantage ||\\|//|| ||\\|//|| ||\\|//||
Modern theory view - correct answer✔✔Dynamic ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Classical theory view - correct answer✔✔Static ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Absolute advantage - correct answer✔✔The economic advantage one nation enjoys that is
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
superior to other nations ||\\|//|| ||\\|//|| ||\\|//||
Comparative advantage - correct answer✔✔The advantage one economic activity nation ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
enjoys in comparison with other nations (relative, not absolute)
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Mercantilism - correct answer✔✔A theory that suggests that the wealth of the world is ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
fixed and that a nation that exports more and imports less will be richer.
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Features of the product life cycle? - correct answer✔✔New, Maturing, and Standardized
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
, Strategic trade - correct answer✔✔Intervention by governments in certain industries can ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
enhance their odds for international success. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
How are supply and demand related to the exchange rate of a country? - correct
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
answer✔✔The price of a commodity, a country's currency, is fundamentally determined by ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
this. Strong demand leads to price hikes; oversupply results in price drops.
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Which theory came first? - correct answer✔✔Mercantilism (although both are of the idea
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
that governments should actively protect domestic industries from imports and vigorously
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
promote exports) ||\\|//||
If a company seeks to limit foreign exchange rate exposure in the forward direction, what
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
is the most effective way to do this? - correct answer✔✔Forward transactions, an act know
||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
as currency hedging.||\\|//|| ||\\|//||
Transaction risk - correct answer✔✔The exchange rate risk associated with the time delay ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
between entering into a contract and settling it. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Hedging - correct answer✔✔A transaction, such as forward transactions, that protects ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
traders and investors from exposure to the fluctuations of the spot rate. ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Currency hedging - correct answer✔✔A way to protect traders and investors from being ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
exposed to the fluctuations of the spot rate ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
Strategic hedging - correct answer✔✔A means of spreading out activities in different ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
currency zones in order to offset the currency losses in certain regions through gains in ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||
other regions (currency diversification) ||\\|//|| ||\\|//|| ||\\|//||
