INTB 200 Exam 4 #1 Questions with correct answers
Gross Domestic Product (GDP) - ✔✔Value of all final goods and services produced
within a country in a given period
Gross National Income (GNI) - ✔✔GDP plus income earned abroad by residents
minus income earned domestically by foreigners
Purchasing Power Parity (PPP) - ✔✔Adjustment of income figures to reflect
differences in cost of living between countries
Human Development Index (HDI) - ✔✔Composite measure of life expectancy
education and income
Gini Index - ✔✔Measure of income inequality where 0 is perfect equality and 1 is
perfect inequality
Globalization - ✔✔Shift toward a more integrated and interdependent world
economy
Globalization of Markets - ✔✔Merging of historically distinct national markets
into one global marketplace
Globalization of Production - ✔✔Sourcing goods and services from locations
around the world to reduce cost or increase quality
Outsourcing - ✔✔Contracting activities to an external firm
, Offshoring - ✔✔Moving production or services to another country
Drivers of Globalization - ✔✔Decline in trade barriers and technological change
Impediments to Globalization - ✔✔Trade barriers FDI barriers transportation
costs political risk economic risk
International Monetary Fund (IMF) - ✔✔Lender of last resort that provides
financial assistance to countries in crisis
World Bank - ✔✔Provides loans and aid for economic development and poverty
reduction
World Trade Organization (WTO) - ✔✔Regulates international trade and resolves
trade disputes
General Agreement on Tariffs and Trade (GATT) - ✔✔International treaty to
reduce trade barriers predecessor to WTO
United Nations (UN) - ✔✔Promotes peace diplomacy human rights and
international cooperation
G20 - ✔✔Forum of major economies that coordinates global economic policy
Gross Domestic Product (GDP) - ✔✔Value of all final goods and services produced
within a country in a given period
Gross National Income (GNI) - ✔✔GDP plus income earned abroad by residents
minus income earned domestically by foreigners
Purchasing Power Parity (PPP) - ✔✔Adjustment of income figures to reflect
differences in cost of living between countries
Human Development Index (HDI) - ✔✔Composite measure of life expectancy
education and income
Gini Index - ✔✔Measure of income inequality where 0 is perfect equality and 1 is
perfect inequality
Globalization - ✔✔Shift toward a more integrated and interdependent world
economy
Globalization of Markets - ✔✔Merging of historically distinct national markets
into one global marketplace
Globalization of Production - ✔✔Sourcing goods and services from locations
around the world to reduce cost or increase quality
Outsourcing - ✔✔Contracting activities to an external firm
, Offshoring - ✔✔Moving production or services to another country
Drivers of Globalization - ✔✔Decline in trade barriers and technological change
Impediments to Globalization - ✔✔Trade barriers FDI barriers transportation
costs political risk economic risk
International Monetary Fund (IMF) - ✔✔Lender of last resort that provides
financial assistance to countries in crisis
World Bank - ✔✔Provides loans and aid for economic development and poverty
reduction
World Trade Organization (WTO) - ✔✔Regulates international trade and resolves
trade disputes
General Agreement on Tariffs and Trade (GATT) - ✔✔International treaty to
reduce trade barriers predecessor to WTO
United Nations (UN) - ✔✔Promotes peace diplomacy human rights and
international cooperation
G20 - ✔✔Forum of major economies that coordinates global economic policy
