C211 Global Economics for Managers Exam Questions and Answers 100% Pass

C211 Global Economics for Managers Exam Questions and Answers 100% Pass Base of the pyramid (BOP) - Answer- Economies where people make less than $2,000 per capita per year. BRICA - Answer- Brazil, Russia, India, and China. Emerging economies - Answer- term that has gradually replaced the term "developing countries" since the 1990s. Emerging markets - Answer- A term that is often used interchangeably with "emerging economies." Expatriate manager - Answer- A manager who works abroad, or "expat" for short. Foreign direct investment (FDI) - Answer- Investment in, controlling, and managing value-added activities in other countries. Global Business - Answer- Business around the globe. Globalization - Answer- The close integration of countries and peoples of the world. Gross domestic product (GDP) - Answer- The sum of value added by resident firms, households, and governments operating in an economy. Gross national income (GNI) - Answer- GDP plus income from non-resident sources abroad. The term used by the World Bank and other international organizations to supersede the term GNP. Gross national product (GNP) - Answer- GDP plus income from non-resident sources abroad Group of 20 (G-20) - Answer- The group of 19 major countries plus the European Union (EU) whose leaders meet on a biannual basis to solve global economic problems. International business (IB) - Answer- (1) A business (or firm) that engages in international (cross-border) economic activities and/or (2) the action of doing business abroad. International premium - Answer- A significant pay raise when working overseas. Liability of foreignness - Answer- The inherent disadvantage that foreign firms experience in host countries because of their non-native status. Multinational enterprise (MNE) - Answer- A firm that engages in foreign direct investment (FDI). Nongovernmental organization (NGO) - Answer- An organization that is not affiliated with governments. Purchasing power parity (PPP) - Answer- A conversion that determines the equivalent amount of goods and services that different currencies can purchase. Reverse innovation - Answer- An innovation that is adopted first in emerging economies and is then diffused around the world