Question 1

In the past 20 years, China's average growth rate in GDP has been over:
A)2.0 percent
B)4.5 percent
C)6.0 percent
D)8.3 percent
E)9.5 percent

Accepted Answer

China's average GDP growth rate over the past 20 years has been around 9.5 percent, reflecting its rapid economic expansion during this period.

Question 2

The World Economic Forum's Global Competitiveness Report placed one of four Asian Tigers (Singapore) among the world's top _________ economies (along with the Finland, United States, Sweden, Denmark, Iceland, Switzerland, Norway, and Australia).
A)five
B)ten
C)twenty
D)twenty-five
E)thirty

Accepted Answer

C

Question 3

Which of the following does not contribute to Singapore's consistently high ranking for global competitiveness?
A)Education
B)Natural resources
C)Healthcare
D)Infrastructure

Accepted Answer

Singapore's high ranking for global competitiveness is largely attributed to its strong education system, efficient healthcare, and advanced infrastructure. However, the country lacks natural resources, which makes B the correct choice as it does not contribute to Singapore's competitiveness.

Question 4

As of 2017, which company was the largest exporter of automobiles from the United States?
A)Honda
B)Toyota
C)Ford
D)GM
E)BMW

Accepted Answer

BMW was the largest exporter of automobiles from the United States in 2017, primarily due to its plant in Spartanburg, South Carolina, which is a significant production site for its X series SUVs.

Question 5

__________ which means investment in manufacturing and service facilities in a foreign country with an intention to engage actively in managing them
A)Outsourcing
B)Offshoring
C)Foreign direct investment
D)Having a foreign subsidiary

Accepted Answer

Foreign direct investment (FDI) refers to an investment made by a firm or individual in one country into business interests located in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company. This involves not just the transfer of funds, but also the intention to actively manage and influence the operations of the foreign business.

Question 6

In general, the larger the country's domestic economy, the less dependent it tends to be on exports and imports relative to its ________________.
A)gross domestic product
B)gross domestic income
C)gross domestic spending
D)gross domestic capital
E)global domestic knowledge

Accepted Answer

Larger economies tend to have more diverse internal markets and resources, making them less reliant on international trade relative to their gross domestic product (GDP), which measures the overall economic output.

Question 7

What rank is the United States in regards to exporters?
A)First
B)Second
C)Third
D)Fourth
E)Fifth

Accepted Answer

The United States is ranked as the second-largest exporter in the world, following China.

Question 8

The ________________ volume of international trade in currencies exceeds the annual value of the trade in goods and services.
A)daily
B)weekly
C)monthly
D)annual
E)None of the above

Accepted Answer

The answer of The ________________ volume of international trade in...

Question 9

Country competitiveness is not a _____________ thing.
A)fixed
B)moving
C)temporary
D)dynamic
E)None of the above

Accepted Answer

Country competitiveness is considered a fixed concept in the sense that it doesn't change rapidly or unpredictably. It is built upon stable factors such as infrastructure, education, and economic policies.

Question 10

The Global economy is becoming more ____________________.
A)regional.
B)local.
C)isolated.
D)transnational.
E)intertwined.

Accepted Answer

The answer of The Global economy is becoming more ____________________.
A)regional.
B)local.
C)isolated.
D)transnational.
E)intertwined....

Question 11

__________________ refers to investment in foreign countries that are withdrawable at short notice (such as investment in foreign stocks and bonds).
A)Direct investment
B)Economic investment
C)International investment
D)Demand investment
E)Portfolio investment

Accepted Answer

Portfolio investment refers to investments in foreign countries that are relatively liquid, such as stocks and bonds, which can be sold and converted into cash relatively quickly.

Question 12

Triad regions of the world include:
A)North America, Western Europe and Africa
B)North America, Western Europe and Japan
C)North America, Western Europe and Asia
D)North America, Western Europe and South America
E)North America, Western Europe and China

Accepted Answer

The term "Triad" refers to the three major economic centers of the world: North America, Western Europe, and Japan. These regions are known for their significant influence on global economics, politics, and culture.

Question 13

Trading in foreign currencies has an effect on world trade.For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports _________.
A)less expensive
B)more expensive
C)come under government control
D)parallel with imports
E)be banned

Accepted Answer

A rise in the value of the local currency makes exports more expensive for foreign buyers, potentially reducing demand for those exports.

Question 14

An example of portfolio investment (or indirect investment) in foreign markets is __________.
A)production facilities
B)computers
C)stocks and bonds
D)buildings
E)manufacturing facilities

Accepted Answer

Portfolio investment refers to the purchase of stocks, bonds, or other financial assets in foreign markets, which does not entail direct control over the businesses or assets.

Question 15

A report from Credit Suisse Research Institute (CSRI) considers three potential futures for our global economy.Which of the following is not cited in the report?
A)Reversal of globalization to be replaced by nationalism.
B)Globalization to continue to expand with the U.S.remaining a financial and military superpower
C)The world will become more multipolar and regionally focused
D)The emergence of four centers of world power

Accepted Answer

The report does not mention the emergence of four centers of world power as one of the potential futures for the global economy.

Question 16

__________ has helped improve the economies of emerging and developing countries more than those of developed countries.
A)The WTO
B)NAFTA
C)Globalization
D)Emigration
E)Intellection property rights

Accepted Answer

Globalization has been a key factor in promoting economic growth in emerging and developing countries by opening up new markets, increasing trade, and encouraging foreign investment.

Question 17

When firms invest in manufacturing and distribution facilities outside their home countries to expand into new markets around the world, they have added operational capacity to the stock of _________________________________.
A)global direct investment
B)regional direct investment
C)local direct investment
D)foreign direct investment
E)none of the above

Accepted Answer

When firms invest in manufacturing and distribution facilities outside their home countries, it is referred to as foreign direct investment (FDI). This is because the investment is made directly into the business interests in another country, rather than through indirect means such as buying stocks or bonds.

Question 18

A nation that is a _________ displays a natural inclination to be competitive in the world market.
A)larger importer
B)large exporter
C)very populous nation
D)very large nation
E)successful trader

Accepted Answer

The answer of A nation that is a _________ displays...

Question 19

BEMs stand for:
A)Big Electronic Markets
B)Big Efficient Market
C)Big Effective Markets
D)Big Emerging Markets
E)None of the above

Accepted Answer

BEMs stand for Big Emerging Markets, which refers to economies that are in the process of rapid growth and industrialization.

Question 20

In the past 20 years, India's average growth rate in GDP has been over:
A)3.1 percent
B)5.7 percent
C)7.0 percent
D)9.1 percent
E)9.7 percent

Accepted Answer

India's average GDP growth rate over the past 20 years has been over 5.7 percent, reflecting significant economic expansion and development during this period.

Quiz 2: Economic Environment

In the past 20 years, China's average growth rate in GDP has been over:

The World Economic Forum's Global Competitiveness Report placed one of four Asian Tigers (Singapore) among the world's top _________ economies (along with the Finland, United States, Sweden, Denmark, Iceland, Switzerland, Norway, and Australia) .

Which of the following does not contribute to Singapore's consistently high ranking for global competitiveness?

As of 2017, which company was the largest exporter of automobiles from the United States?

__________ which means investment in manufacturing and service facilities in a foreign country with an intention to engage actively in managing them

In general, the larger the country's domestic economy, the less dependent it tends to be on exports and imports relative to its ________________.

What rank is the United States in regards to exporters?

The ________________ volume of international trade in currencies exceeds the annual value of the trade in goods and services.

Country competitiveness is not a _____________ thing.

The Global economy is becoming more ____________________.

__________________ refers to investment in foreign countries that are withdrawable at short notice (such as investment in foreign stocks and bonds) .

Triad regions of the world include:

Trading in foreign currencies has an effect on world trade.For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports _________.

An example of portfolio investment (or indirect investment) in foreign markets is __________.

A report from Credit Suisse Research Institute (CSRI) considers three potential futures for our global economy.Which of the following is not cited in the report?

__________ has helped improve the economies of emerging and developing countries more than those of developed countries.

When firms invest in manufacturing and distribution facilities outside their home countries to expand into new markets around the world, they have added operational capacity to the stock of _________________________________.

A nation that is a _________ displays a natural inclination to be competitive in the world market.

BEMs stand for:

In the past 20 years, India's average growth rate in GDP has been over: