WGU C211 – Global Economics for Managers
(Cengage) | 2025/2026 Latest Exam Prep &
Q&A
Globalization - correct answerThe close integration of countries and peoples of the
world.
Purchasing Power Parity (PPP) - correct answerA conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - correct answerA technique to prepare and plan for multiple
scenarios (either high or low risk).
Risk management - correct answerThe identification and assessment of risks and the
preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - correct answerGDP + 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) - correct answerGDP + income from non-resident
sources abroad.
reverse innovation - correct answerAn innovation that is adopted first in emerging
economies and is then diffused around the world.
International Business (IB) - correct answer(1) A business or firm that engages in
international crossborder economic activities and/or (2) the action of doing business
abroad.
semiglobalization - correct answerA perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate countries from each
other completely.
BRIC - correct answerBrazil, Russia, India, and China
base of the pyramid (BOP) - correct answerEconomies where people make less than
$2,000 per capita per year.
emerging economies - correct answerA term that has gradually replaced the term
"developing countries" since the 1990's.
, emerging markets - correct answerA term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - correct answerAn organization that is not
affiliated with governments.
Expatriate Manager - correct answerA manager who works "abroad", or "expat" for
short.
Gross Domestic Product (GDP) - correct answerThe sum of value added by resident
firms, households, and governments
Foreign Direct Investment (FDI) - correct answerInvestment in, controlling, and
managing value-added activities in other countries.
Group of 20 (G-20) - correct answerThe 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 - correct answerThe inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
global business - correct answerBusiness around the globe.
international premium - correct answerA significant pay raise when working overseas.
multinational enterprise (MNE) - correct answerA firm that engages in foreign direct
investment (FDI)
Triad - correct answerNorth America, Western Europe, and Japan
Expatriate Manager (expat) - correct answerA manager who works abroad, or "expat"
for short.
Nontariff Barriers (NTB) - correct answerTrade barrier that relies on nontariff means to
discourage imports.
tariff barrier - correct answerTrade barrier that relies on tariffs to discourage imports.
deadweight costs - correct answerNet losses that occur in an economy as a result of
tariffs.
free trade - correct answerThe idea that free market forces should determine how much
trade with little or no government intervention.
(Cengage) | 2025/2026 Latest Exam Prep &
Q&A
Globalization - correct answerThe close integration of countries and peoples of the
world.
Purchasing Power Parity (PPP) - correct answerA conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - correct answerA technique to prepare and plan for multiple
scenarios (either high or low risk).
Risk management - correct answerThe identification and assessment of risks and the
preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - correct answerGDP + 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) - correct answerGDP + income from non-resident
sources abroad.
reverse innovation - correct answerAn innovation that is adopted first in emerging
economies and is then diffused around the world.
International Business (IB) - correct answer(1) A business or firm that engages in
international crossborder economic activities and/or (2) the action of doing business
abroad.
semiglobalization - correct answerA perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate countries from each
other completely.
BRIC - correct answerBrazil, Russia, India, and China
base of the pyramid (BOP) - correct answerEconomies where people make less than
$2,000 per capita per year.
emerging economies - correct answerA term that has gradually replaced the term
"developing countries" since the 1990's.
, emerging markets - correct answerA term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - correct answerAn organization that is not
affiliated with governments.
Expatriate Manager - correct answerA manager who works "abroad", or "expat" for
short.
Gross Domestic Product (GDP) - correct answerThe sum of value added by resident
firms, households, and governments
Foreign Direct Investment (FDI) - correct answerInvestment in, controlling, and
managing value-added activities in other countries.
Group of 20 (G-20) - correct answerThe 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 - correct answerThe inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
global business - correct answerBusiness around the globe.
international premium - correct answerA significant pay raise when working overseas.
multinational enterprise (MNE) - correct answerA firm that engages in foreign direct
investment (FDI)
Triad - correct answerNorth America, Western Europe, and Japan
Expatriate Manager (expat) - correct answerA manager who works abroad, or "expat"
for short.
Nontariff Barriers (NTB) - correct answerTrade barrier that relies on nontariff means to
discourage imports.
tariff barrier - correct answerTrade barrier that relies on tariffs to discourage imports.
deadweight costs - correct answerNet losses that occur in an economy as a result of
tariffs.
free trade - correct answerThe idea that free market forces should determine how much
trade with little or no government intervention.
