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Total time : 20 mins (1 min per question) Total marks: 10 (1/2 mark of each question) Wrong answer is welcomed but not multiple answers. This 10 marks will be your final internal marks for quiz section.

1. The major argument companies use to support off-shoring is that it ________.

a) b) c) d) Reduces pollution Reduces home-country unemployment Saves costs Helps poor countries improve their economies

2. When a company owns foreign bonds or bills, this is an example of a ________

a) b) c) d)

Transnational corporation Joint venture Direct investment Portfolio investment

3. All commercial transactions between two or more countries are known as globalization a) True b) False

4. As a result of expansions in transportation technology, more countries can compete for sales in a given market.
a) True b) False

5. Countries have reduced import trade barriers because they believe their domestic producers will become more efficient as a result of foreign competition..
a) True b) False

6. The term _________ refers to a political system that stresses the primacy of the rights and role of the community.
a) b) c) d) Socialism Individualism Democracy Collectivism

7. Which of the following restrictions is inconsistent with a totalitarian state? a) A powerful security force. b) A citizens' freedom to speak their mind. c) Regulated access to information. d) A court system that is supervised by the political system.

8. The form of government whereby a single person, political party, or organized group controls many if not all facets of life in the nation is called a _____ system. a) b) c) d) Capitalist Democratic Socialist Totalitarianism

9. The term individualism refers to a political system that emphasizes the supremacy of collective goals over individual goals a) True b) False

10. Democracy and totalitarianism fall on the same end of the political spectrum.
a) True b) False

11. The gross national income per capita is:

a) The value of all goods and services produced in the economy divided by the population. b) The value of production that takes place within a nation's borders divided by the population. c) The value of all goods within that country. d) Adjusted to reflect differences in the cost of living.

12. Per capita GNI is determined by ____ the size of GNI of a nation by its total population a) b) c) d) Subtracting Dividing Multiplying Adding

13. By design, the Human Development Index aims to capture _____ progress in human development.
a) b) c) d) Long-term Medium-term Short-term Immediate

14. The Human Development Index measures the average achievements in a country on 3 dimensions: a) GNI, Purchasing Power Parity, Standard of Living b) Longevity, Knowledge, Standard of Living c) Longevity, Inflation, GDP d) GNI, GDP, Knowledge

15. The unemployment rate is a measure of:

a) All people who do not have employment. b) All people who have been fired or laid-off. c) All people who do not have a job but are actively looking for a job. d) All people who do not make a living wage.

16. Key components of the balance of payments statements include which of the following pairs:
a) Current account, capital account. b) Capital account, contemporary account. c) Current account, cash account. d) Concurrent account, capital account.

17. The three broad types of economic systems are:

a) Market economy, collective economy, production economy. b) Market economy, hybrid economy, and command economy. c) Individualist economy, mixed economy, and state-directed economy. d) Market economy, command economy, mixed economy.

18. Which of the following assumptions explains why both the home and host countries may gain from FDI?
a) Restrictions on labor outflow reduce future earnings inflows from foreign investments. b) Production resources are always fully employed. c) The gains in the host country are always greater than the gains in the home country. d) Capital and technology cannot be easily transferred from one industry to another.

19. _______ affirms that ethical truths depend on the groups holding them, making intervention by outsiders unethical.
a) b) c) d) Existentialism Normativism Relativism Dogmatism

20. Tiered pricing for global pharmaceutical products implies that:

a) Lower-income countries pay a lower, subsidized price. b) Countries are permitted to reverse engineer products in order to move from one pricing tier to the other. c) Companies charge low prices in the industrial countries to try to pick up market share. d) Generic products cannot be used in the lower-tiered countries due to safety concerns.

Please hand over your answer sheets.