MANA 1301-005 EXAM 1 (CHAPTER 1-4) WITH ALL
CORRECT & 100% VERIFIED ANSWERS|LATEST
VERSION|ALREADY GRADED A+
What is Globalization? ✔Correct Answer-the socioeconomic reforms process of eliminating trade,
investment, cultural, information technology, and political barriers across countries
Goal of globalization? ✔Correct Answer-increased economic growth and geopolitical integration
and interdependence among nations
When did globalization occur? ✔Correct Answer-can be traced back to the 15th century, but picked
up after WWII, beginning in 1944 with the creation of international institutions
Why did globalization occur? ✔Correct Answer-Rebuild the broken world financial and trade
systems that could help lead to global peace and prosperity
4 Reasons for Globalization growth ✔Correct Answer-1. Technology
2. Population Growth
3. Formation of Global Trade Organizations
4. Business enterprise growth/cost efficiency desire
Benefits of Globalization ✔Correct Answer-· Increase global competition
· Growth of multiple country economies
· Lifted countries out of poverty/raised living standards
· More choices for consumers - pricing power
· Improved cultural awareness
· Better institutional structures
Costs of Globalization ✔Correct Answer-· job loss/income stagnation
· environmental exploitation
· over reliance on foreign production - national security
What are the 3 major "world" organizations? Where did they originate from? ✔Correct Answer-1.
International Monetary Fund (IMF)
2. World Bank
3. General Agreement on Tariffs and Trade (GATT)/World Trade Organization (WTO)
They originated from the Bretton Woods Conference
International Monetary Fund (IMF) functions ✔Correct Answer-- currency stabilization
- provide forum for cooperation on international monetary problems
- facilitates international trade that promotes new jobs, economic growth, and poverty reduction
- promote exchange rate stability
- lends countries foreign exchange when needed
World Bank Functions ✔Correct Answer-- economic development
- eliminate poverty
- global integration through trade liberalization and expansion
, - analysis and national trading policy advice
- information/knowledge transfer to developing countries
World Bank Institutions ✔Correct Answer-- IBRD
- IDA
- IFC
- MIGA
- ICSID
GATT/WTO functions ✔Correct Answer-- administering trade agreements
- forum for trade negotiations
- settle trade disputes
- review national trade policies
Principles of Multilateral Trade ✔Correct Answer-- trade without discrimination
- increasingly freer trade
- predictability of trading relationships
- fair competition
- encouragement of economic reforms in developing countries
De-coupling ✔Correct Answer-countries growing based on their own strengths; less reliance on
other country's economies
a sustainable decoupling process would lead to... ✔Correct Answer-creation of multipolar world
Multipolar World ✔Correct Answer-a world economy in which the engines of growth could
comprise several major industrialized and emerging economies, such as the United States, the
European Union, China, India, Brazil, Russia, and South Africa rather than the United States alone
Exports ✔Correct Answer-value of goods/services SOLD to another country
Imports ✔Correct Answer-value of goods/services BOUGHT from another country
Gross Domestic Product (GDP) ✔Correct Answer-the value of goods and services produced within
a country in a year
The 3 largest forces on Earth ✔Correct Answer-1. Moore's Law
2. Market
3. Mother Nature
How many recognized countries are there? ✔Correct Answer-197
Who said - "Although the world is full of suffering, it is full also of the overcoming of it." ✔Correct
Answer-Hellen Keller
Emerging Markets ✔Correct Answer-countries moving from pre-industrial to industrial/knowledge
economies
sustainable development ✔Correct Answer-economic development that meets the needs of the
present generation without compromising the ability of future generations to meet their own needs
CORRECT & 100% VERIFIED ANSWERS|LATEST
VERSION|ALREADY GRADED A+
What is Globalization? ✔Correct Answer-the socioeconomic reforms process of eliminating trade,
investment, cultural, information technology, and political barriers across countries
Goal of globalization? ✔Correct Answer-increased economic growth and geopolitical integration
and interdependence among nations
When did globalization occur? ✔Correct Answer-can be traced back to the 15th century, but picked
up after WWII, beginning in 1944 with the creation of international institutions
Why did globalization occur? ✔Correct Answer-Rebuild the broken world financial and trade
systems that could help lead to global peace and prosperity
4 Reasons for Globalization growth ✔Correct Answer-1. Technology
2. Population Growth
3. Formation of Global Trade Organizations
4. Business enterprise growth/cost efficiency desire
Benefits of Globalization ✔Correct Answer-· Increase global competition
· Growth of multiple country economies
· Lifted countries out of poverty/raised living standards
· More choices for consumers - pricing power
· Improved cultural awareness
· Better institutional structures
Costs of Globalization ✔Correct Answer-· job loss/income stagnation
· environmental exploitation
· over reliance on foreign production - national security
What are the 3 major "world" organizations? Where did they originate from? ✔Correct Answer-1.
International Monetary Fund (IMF)
2. World Bank
3. General Agreement on Tariffs and Trade (GATT)/World Trade Organization (WTO)
They originated from the Bretton Woods Conference
International Monetary Fund (IMF) functions ✔Correct Answer-- currency stabilization
- provide forum for cooperation on international monetary problems
- facilitates international trade that promotes new jobs, economic growth, and poverty reduction
- promote exchange rate stability
- lends countries foreign exchange when needed
World Bank Functions ✔Correct Answer-- economic development
- eliminate poverty
- global integration through trade liberalization and expansion
, - analysis and national trading policy advice
- information/knowledge transfer to developing countries
World Bank Institutions ✔Correct Answer-- IBRD
- IDA
- IFC
- MIGA
- ICSID
GATT/WTO functions ✔Correct Answer-- administering trade agreements
- forum for trade negotiations
- settle trade disputes
- review national trade policies
Principles of Multilateral Trade ✔Correct Answer-- trade without discrimination
- increasingly freer trade
- predictability of trading relationships
- fair competition
- encouragement of economic reforms in developing countries
De-coupling ✔Correct Answer-countries growing based on their own strengths; less reliance on
other country's economies
a sustainable decoupling process would lead to... ✔Correct Answer-creation of multipolar world
Multipolar World ✔Correct Answer-a world economy in which the engines of growth could
comprise several major industrialized and emerging economies, such as the United States, the
European Union, China, India, Brazil, Russia, and South Africa rather than the United States alone
Exports ✔Correct Answer-value of goods/services SOLD to another country
Imports ✔Correct Answer-value of goods/services BOUGHT from another country
Gross Domestic Product (GDP) ✔Correct Answer-the value of goods and services produced within
a country in a year
The 3 largest forces on Earth ✔Correct Answer-1. Moore's Law
2. Market
3. Mother Nature
How many recognized countries are there? ✔Correct Answer-197
Who said - "Although the world is full of suffering, it is full also of the overcoming of it." ✔Correct
Answer-Hellen Keller
Emerging Markets ✔Correct Answer-countries moving from pre-industrial to industrial/knowledge
economies
sustainable development ✔Correct Answer-economic development that meets the needs of the
present generation without compromising the ability of future generations to meet their own needs
