Social Resp & Ethics Ch 4

The percentage of global wealth concentrated at the base of the Pyramid is

70 percent

Under the World Trade Organization's most-favored nation rule:

All import restrictions are illegal unless proven scientifically.

Which statement(s) below are true about global income?

Both of these answers are correct: Income is how much one earns in a day or a year; and income at the bottom of the pyramid varies from place to place.

A free enterprise system refers to

Economic assets that are privately owned and exchanged in an open market

According to the United Nations, a feature of democracy is

Fair elections An independent media A government with power balanced among executive, legislative, and judicial branches.

An individual who is a supporter of globalization would argue that it helps the developing world by

Giving entrepreneurs access to foreign investment funds to support development Allowing new ideas and technological innovations to spread quickly Providing people in developing countries with more jobs\

The primary goal of a "vulture fund" is to

Make a profit

The Heritage Foundation scored which nation of the world among the most repressed in 2018?

North Korea.

The theory of comparative advantage states that:

Productivity rises more quickly when countries produce goods and services for which they have a natural talent.

A firm that would like to develop a global supply chain would

Purchase raw materials, components, or supplies from sellers in other countries

The three strategies of globalization can be summarized using what three words?

Sell, make, and buy.

A firm that has global operations has:

Some or all of their manufacturing or service operations abroad.

Representation on the World Bank's board of directors is based on

The size of the member nation's economy.

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Weak health and safety regulations.

Assets that a person accumulates and owns at a certain point in time are called:

Wealth

An example of an international financial and trade institution is

World Bank International Monetary Fund World Trade Organization.

A society where economic power is concentrated in the hands of government officials and political authorities is called

A central state control system

Single-party rule by communist parties still remains in:

Vietnam

Which of the following statements accurately describe the practice of tax inversion:

Both of these answers are correct: A company shifts their headquarters to a foreign country; and a company increases debt in their home country.

The purpose of the World Trade Organization is to:

Eliminate barriers to free trade among nations.

The primary purpose of the International Monetary Fund is to:

Lend foreign currency to member countries.

Microfinance refers to banks

Lending money to low-income businesses

The term "race to the bottom" refers to:

Moving production jobs to the country with the lowest labor cost.

The deep anti-americanism that exists in some parts pf the world is though to be caused by

Resentment of cultural penetration from U.S based multinational enterprises

An example of a Global Action Network, or GAN, is:

The Kimberley Process.

Global market channels involve a firm producing goods in:

Their home country and exporting them to other countries.

Experts attribute the growth of nongovernmental organizations to

Greater openness in many societies

Government has distinctive resources and competencies including

Knowledge of public policy