International Business and Trade_Midterm Examination

It stands for the economic interconnectedness of countries with the global economy as a whole.

• Economic Globalisation

• Economic Condition

• Economic Stability

• Economic Drivers

Globalisation is favourable in the theory of comparative advantage which states that countries that are good at producing a particular good are better off exporting it to countries that are less efficient at producing that good.

• True

• False

Based on the definition of economic development (ED), which of the following is NOT stated?

• ED is an improvement in the material well-being of the poorer half of the population.

• ED is a decline in agriculture’s share of GNP and a corresponding increase in the GNP share of industry and services.

• ED is a decrease in the education and skills of the labour force.

• ED is a substantial technical advances originating within the country.

Developed countries are industrialised countries.

• True

• False

A country having a GDI less than 0.500 indicates...

• an increase of education

• larger gender disparity

• discrimination

• high rates of crime

The extent of globalisation is shaped by __________ which promote or impede economic cross-border interconnections.

• political rivalry

• political decisions

• political dynamism

• political influence

One of the Sustainable Development Goals (SDGs) of United Nations is to conserve and sustainably use the oceans, seas, and marine resources for sustainable development.

• True

• False

If society does not feel comfortable with the distribution of market income due to globalisation, collection of taxes is the way to be used in order to achieve a socially desirable distribution of net income.

• True

• False

Because all markets need institutions, global markets require global rules, too.

• True

• False

The author of the book The World is Flat.

• Thomas Fridman

• Thomas Friedman

• Thomas Edison

• Thomas Edmund