C211 WGU Objective Assessment
Exam Questions with Definitive
Correct Solutions||Updated
2025/2026 Syllabus||A+
Graded|100% Guaranteed
Pass!!!<Latest Version>
BRIC - ANSWER ✓ Brazil, Russia, India, and China
GDP: gross domestic product - ANSWER ✓ the sum of value added by resident
firms, households, and governments operating in an economy.
GNI: gross national income - ANSWER ✓ GDP plus income from non-resident
sources abroad.
FDI: foreign direct investment - ANSWER ✓ investment in, controlling, and
managing value-added activities in other countries.
global business - ANSWER ✓ business around the globe including both
international (cross-border) activities and domestic activities.
globalization - ANSWER ✓ the close integration of countries and people of the
world.
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.
Base of the pyramid (BOP) - ANSWER ✓ Economics where people make less
$2,000 per capita per year.
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.
MNE: Multinational enterprise - ANSWER ✓ a firm that engages in foreign direct
investments (FDI)
NGO: nongovernmental organization - ANSWER ✓ an organization that is not
affiliated with governments.
PPP: purchasing power parity - 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.
scenario planning - ANSWER ✓ a technique to prepare and plan for multiple
scenarios (either high or low risk).
semiglobalization - ANSWER ✓ a perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate countries from each
other completely.
triad - ANSWER ✓ North America, Western Europe, and Japan.
absolute advantage - ANSWER ✓ The economic advantage one nation enjoys that
is absolutely superior to other nations.
three views of globalization - ANSWER ✓ 1. a new force in recent times.
2. a long-running historical evolution.
3. a pendulum swinging between extremes.
Administrative policy - ANSWER ✓ Bureaucratic rules that make it harder to
import foreign goods.
, Antidumping duty - ANSWER ✓ Tariffs levied on imports that have been
"dumped" (selling below costs to "unfairly" drive domestic firms out of business).
Emerging economies - ANSWER ✓ a 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.
Balance of trade - ANSWER ✓ The aggregation of importing and exporting that
leads to the country-level trade surplus or deficit.
Classical trade theories - ANSWER ✓ The major theories of international trade
that were advanced before the 20th century, which consist of (1) mercantilism, (2)
absolute advantage, and (3) comparative advantage.
Comparative advantage - ANSWER ✓ Relative (not absolute) advantage in one
economic activity that one nation enjoys in comparison with other nations.
Deadweight cost - ANSWER ✓ Net losses that occur in an economy as a result of
tariffs.
export - ANSWER ✓ Selling abroad.
Factor endowment - ANSWER ✓ The extent to which different countries possess
various factors of production such as labor, land, and technology.
Factor endowment theory (Heckscher-Ohlin theory) - ANSWER ✓ A theory that
suggests that nations will develop comparative advantages based on their locally
abundant factors.
First-mover advantage - ANSWER ✓ Advantage that first movers enjoy and do
not share with late entrants.
Exam Questions with Definitive
Correct Solutions||Updated
2025/2026 Syllabus||A+
Graded|100% Guaranteed
Pass!!!<Latest Version>
BRIC - ANSWER ✓ Brazil, Russia, India, and China
GDP: gross domestic product - ANSWER ✓ the sum of value added by resident
firms, households, and governments operating in an economy.
GNI: gross national income - ANSWER ✓ GDP plus income from non-resident
sources abroad.
FDI: foreign direct investment - ANSWER ✓ investment in, controlling, and
managing value-added activities in other countries.
global business - ANSWER ✓ business around the globe including both
international (cross-border) activities and domestic activities.
globalization - ANSWER ✓ the close integration of countries and people of the
world.
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.
Base of the pyramid (BOP) - ANSWER ✓ Economics where people make less
$2,000 per capita per year.
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.
MNE: Multinational enterprise - ANSWER ✓ a firm that engages in foreign direct
investments (FDI)
NGO: nongovernmental organization - ANSWER ✓ an organization that is not
affiliated with governments.
PPP: purchasing power parity - 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.
scenario planning - ANSWER ✓ a technique to prepare and plan for multiple
scenarios (either high or low risk).
semiglobalization - ANSWER ✓ a perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate countries from each
other completely.
triad - ANSWER ✓ North America, Western Europe, and Japan.
absolute advantage - ANSWER ✓ The economic advantage one nation enjoys that
is absolutely superior to other nations.
three views of globalization - ANSWER ✓ 1. a new force in recent times.
2. a long-running historical evolution.
3. a pendulum swinging between extremes.
Administrative policy - ANSWER ✓ Bureaucratic rules that make it harder to
import foreign goods.
, Antidumping duty - ANSWER ✓ Tariffs levied on imports that have been
"dumped" (selling below costs to "unfairly" drive domestic firms out of business).
Emerging economies - ANSWER ✓ a 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.
Balance of trade - ANSWER ✓ The aggregation of importing and exporting that
leads to the country-level trade surplus or deficit.
Classical trade theories - ANSWER ✓ The major theories of international trade
that were advanced before the 20th century, which consist of (1) mercantilism, (2)
absolute advantage, and (3) comparative advantage.
Comparative advantage - ANSWER ✓ Relative (not absolute) advantage in one
economic activity that one nation enjoys in comparison with other nations.
Deadweight cost - ANSWER ✓ Net losses that occur in an economy as a result of
tariffs.
export - ANSWER ✓ Selling abroad.
Factor endowment - ANSWER ✓ The extent to which different countries possess
various factors of production such as labor, land, and technology.
Factor endowment theory (Heckscher-Ohlin theory) - ANSWER ✓ A theory that
suggests that nations will develop comparative advantages based on their locally
abundant factors.
First-mover advantage - ANSWER ✓ Advantage that first movers enjoy and do
not share with late entrants.
