Which of the Following Statements About the Globalization of the Economy

question 6

Multiple Choice

Which of the following statements about the globalization of the economy is FALSE?

• A)Globalization of economic activities provides lower-cost goods for consumers in advanced industrial nations.
• B)Culture wars have arisen as a result of the social problems caused by globalization,and have made it difficult to arrive at ways to solve social problems.
• C)Economic globalization takes jobs away from workers in the world's wealthier nations.
• D)Globalization of economic activities provides higher-cost goods for consumers in advanced nations because of increased production and transportation costs.
• E)Technology-dependent globalization has facilitated new forms of crime (such as identity theft)and social problems,such as the spread of new diseases.

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Definitions:

Absorption Costing

Absorption costing is a method in accounting that includes all manufacturing costs - both direct and indirect - in the cost of a product.

Variable Costing

An accounting method where only variable production costs are included in product costs, with fixed overhead treated as a period cost.

Net Operating Income

A monetary measurement that determines an organization's profit by deducting operational costs from its operational revenue.

Absorption Costing

A costing method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.