WGU C211 Global Economics for Managers Study Guide
Questions and Answers with Complete Solution | Newly
Updated 2026-2027
Globalization - ANSWERS The close integration of countries and peoples of the
world.
Purchasing Power Parity (PPP) - ANSWERS A conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - ANSWERS A technique to prepare and plan for multiple
scenarios (either high or low risk).
Risk management - ANSWERS The identification and assessment of risks and
the preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - ANSWERS GDP + income from non-resident
sources abroad. GNI is the term used by the World Bank and other international
organizations to supersede the term GNP.
Gross National Product (GNP) - ANSWERS GDP + income from non-resident
sources abroad.
reverse innovation - ANSWERS An innovation that is adopted first in emerging
economies and is then diffused around the world.
,International Business (IB) - ANSWERS (1) A business or firm that engages in
international crossborder economic activities and/or (2) the action of doing
business abroad.
semiglobalization - ANSWERS A perspective that suggests that barriers to
market integration at borders are high, but not high enough to insulate countries
from each other completely.
BRIC - ANSWERS Brazil, Russia, India, and China
base of the pyramid (BOP) - ANSWERS Economies where people make less
than $2,000 per capita per year.
emerging economies - ANSWERS A term that has gradually replaced the term
"developing countries" since the 1990's.
emerging markets - ANSWERS A term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - ANSWERS An organization that is
not affiliated with governments.
Expatriate Manager - ANSWERS A manager who works "abroad", or "expat"
for short.
Gross Domestic Product (GDP) - ANSWERS The sum of value added by resident
firms, households, and governments
, Foreign Direct Investment (FDI) - ANSWERS Investment in, controlling, and
managing value-added activities in other countries.
Group of 20 (G-20) - ANSWERS The group of 19 major countries plus the
European Union (EU) whose leaders meet on a biannual basis to solve global
economic problems.
liability of foreignness - ANSWERS The inherent disadvantage that foreign
firms experience in host countries because of their non-native status.
global business - ANSWERS Business around the globe.
international premium - ANSWERS A significant pay raise when working
overseas.
multinational enterprise (MNE) - ANSWERS A firm that engages in foreign
direct investment (FDI)
Triad - ANSWERS North America, Western Europe, and Japan
Expatriate Manager (expat) - ANSWERS A manager who works abroad, or
"expat" for short.
Nontariff Barriers (NTB) - ANSWERS Trade barrier that relies on nontariff
means to discourage imports.
Questions and Answers with Complete Solution | Newly
Updated 2026-2027
Globalization - ANSWERS The close integration of countries and peoples of the
world.
Purchasing Power Parity (PPP) - ANSWERS A conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - ANSWERS A technique to prepare and plan for multiple
scenarios (either high or low risk).
Risk management - ANSWERS The identification and assessment of risks and
the preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - ANSWERS GDP + income from non-resident
sources abroad. GNI is the term used by the World Bank and other international
organizations to supersede the term GNP.
Gross National Product (GNP) - ANSWERS GDP + income from non-resident
sources abroad.
reverse innovation - ANSWERS An innovation that is adopted first in emerging
economies and is then diffused around the world.
,International Business (IB) - ANSWERS (1) A business or firm that engages in
international crossborder economic activities and/or (2) the action of doing
business abroad.
semiglobalization - ANSWERS A perspective that suggests that barriers to
market integration at borders are high, but not high enough to insulate countries
from each other completely.
BRIC - ANSWERS Brazil, Russia, India, and China
base of the pyramid (BOP) - ANSWERS Economies where people make less
than $2,000 per capita per year.
emerging economies - ANSWERS A term that has gradually replaced the term
"developing countries" since the 1990's.
emerging markets - ANSWERS A term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - ANSWERS An organization that is
not affiliated with governments.
Expatriate Manager - ANSWERS A manager who works "abroad", or "expat"
for short.
Gross Domestic Product (GDP) - ANSWERS The sum of value added by resident
firms, households, and governments
, Foreign Direct Investment (FDI) - ANSWERS Investment in, controlling, and
managing value-added activities in other countries.
Group of 20 (G-20) - ANSWERS The group of 19 major countries plus the
European Union (EU) whose leaders meet on a biannual basis to solve global
economic problems.
liability of foreignness - ANSWERS The inherent disadvantage that foreign
firms experience in host countries because of their non-native status.
global business - ANSWERS Business around the globe.
international premium - ANSWERS A significant pay raise when working
overseas.
multinational enterprise (MNE) - ANSWERS A firm that engages in foreign
direct investment (FDI)
Triad - ANSWERS North America, Western Europe, and Japan
Expatriate Manager (expat) - ANSWERS A manager who works abroad, or
"expat" for short.
Nontariff Barriers (NTB) - ANSWERS Trade barrier that relies on nontariff
means to discourage imports.
