Since the collapse of communism at the end of the 1980s, the erstwhile communist nations have transformed their economies by globalizing their markets. This involves _____.
A. regulating markets
B. privatizing state-owned enterprises
C. decreasing competition
D. reducing foreign investment
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Which of the following has enabled globalization of markets?
A. Marginal differentiation among national markets
B. Falling barriers to cross border trade
C. Reduced homogeneity of material culture across the world
D. Increased government ownership of factors of production
Which of the following is an impediment that makes it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe?
A. Transportation costs
B. Government deregulations
C. Reduction of barriers to trade between countries
D. Reduction of barriers to foreign direct investment
The General Agreement on Tariffs and Trade (GATT) was responsible for ____.
A. protecting government owned enterprises
B. policing the global marketplace
C. limiting nuclear testing
D. promoting environment friendly technology
The World Trade Organization promotes the:
A. lowering of barriers to cross-border trade and investment
B. development of poor nations through low-interest loans
C. state ownership of major enterprises
D. regulation of national economies
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