WGU D080 Managing in a Global Business Environment Exam with Complete Questions and Answers (Graded A+)

Convention (1999) that aimed to eliminate all practices of child slavery or those similar to slavery - ANSWER - Worst Forms of Child Labour Convention - 1999 What four fundamental aspects of globalization were identified by the IMF in 2000? - ANSWER - - trade and transactions - capital and investment movements - the migration and movement of people - the dissemination of knowledge What environmental challenges are linked with globalization? - ANSWER - global warming, cross-boundary water and air pollution, and overfishing in the ocean What are the three main areas of globalization? - ANSWER - economic, cultural, and political How would you study the barriers to cross-border economic activity? - ANSWER - CAGE analysis Culture, Administration, Geography, Economics What are the major functions of the IMF? - ANSWER - The IMF helps maintain liquidity of global funding by providing a straight-forward method for nations to borrow and loan to each other through a mechanism called the special drawing right. What are some criticisms of the IMF? - ANSWER - The conditions put on the loan require the recipient country to have a policy of austerity. This policy, which usually results in a cut in funding for social programs, can have a significant effect on citizens who are living in poverty, according to critics of the IMF. Other criticisms of the IMF address a lack of representation by the global south and an overrepresentation by the United States. What are the priorities and goals of the World Bank? - ANSWER - - three priorities: helping build sustainable economic growth, investing in people, and building resilience to shocks and threats. - two goals: end extreme poverty, improve the income of the lowest 40% of citizens in each country.