Instructions: Respond to each of these essay questions in one Word document with a cover page including your name, course number and name, and date.
Use 12 point, Times New Roman font with 1" margins, double spaced. This is a take home, open book exam. However, it is not "open friend." Please do not collaborate on the exam.
It is to be only your work. If you cite sources, be sure to cite them in either APA or MLA format in a formal reference page. The exam will be due via email no later than 11:59 p.m. on Monday, June 26, 2017.
1. With the help of an example discuss the characteristics of globalization.
2. Compare and contrast the four forms of totalitarianism.
3. What is gross national income? Is it related to purchasing power parity.
4. What are the determinants of culture?
5. What is considered normal practice in one country may be considered unethical in others. Discuss.
6. Explain Smith's theory of absolute advantage.
7. What are the political reasons for governments to intervene in markets?
8. What is licensing? How does it work?
9. Compare and contrast a free trade area and a common market. Provide examples.
10. Compare and contrast currencies that are freely convertible, externally convertible, and nonconvertible.