WGU C211 Global Economics for Managers

Suppose that the United States imposes a tariff on avocados imported from Mexico. What impact will this have on the price paid for avocados by United States citizens? The price will increase. Which of the following is a consequence of a country imposing a tariff on imported goods? The demand for foreign produced goods decreases. Suppose that the United States imposes a tariff on salt. What impact might this tariff have on the price for domestic consumers? Consumers will p...

The term "emerging economies" has replaced the term developing countries The gross domestic product plus the income from non-resident sources abroad gives the gross national product Which of the following countries would be characterized as an emerging economy? Brazil More than 25% of global GDP comes from BRICS countries Viewing the global economy as a pyramid, the Triad refers to North America, Western Europe, and Japan People who earn _____ a year comprise the ...

Which view claims that the phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through multinational enterprise? The new-force view Economic gains come from international trade because one country's exported goods, services, or other items are unique, valuable, and difficult to duplicate to the importing countries. Which view does this statement portray? Resource-based view What is the aggregation of importing and exporting ...

How is consumer surplus represented on a graph? The area below the demand curve and above price which two statements define producer surplus? the amount the seller is paid minus the cost of production and the area below the price and above the supply curve on a graph a painter spends 200 on paint. he then bills the homeowner 1,000 dollars to cover his expenses. what is the amount that gets added to gdp? 1000 a us state purchases a fleet of new highway patrol vehicles manu...

Which view claims that the phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through multinational enterprises? The new force view Economic gains come from international trade because one country's exported goods, services or other items are unique, valuable, and difficult to duplicate to importing country Resource-based view What is the aggregation of importing and exporting that leads to the country-level trade surplus o...

Views of globalization (Chp 1.4) 1. It's a new phenomenom, starting in the late 20th century. 2. It's a long term part of human history. 3. Neither recent nor one directional, it's a pendulum that swings back and forth. Strategic goal = Natural resource—seeking Location specific advantage = Possession of natural resources and related transport and communication infrastructure Strategic goal = Market-seeking Location specific advantage = Abundance of strong market demand a...

Globalization The process by which businesses or other organizations develop international influence or start operating on an international scale Import quota A limit on the number of products in certain categories that a nation can import Emerging economy Nations with social or business activity in the process of rapid growth and industrialization Global economic pyramid Pyramid that consists of all of the world's economies, comprised of three parts New view of ...