Globalization does not mean:
A) the homogenizing of markets.
B) when one product or one brand is sold in many different international markets.
C) the increase in trade among nations.
D) the establishment of manufacturing plants in more than one nation.
E) the purchase of supplies from foreign firms.
A
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On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 49.0 Indian rupees. Thus, one Indian rupee would have purchased about ________ U.S. dollars
A) 0.02 B) 1.20 C) 7.00 D) 49.0
In a market system, the most dangerous types of bankruptcies involve
a. industrial monopolies. b. multinational firms. c. employment agencies. d. financial institutions.
If one country can produce a good with fewer resources than another country, this is called:
a. absolute advantage. b. geographic advantage. c. specialization. d. comparative advantage.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.