WGU C211 GLOBAL ECONOMICS FOR MANAGERS 2025/2026
VERSION CURRENTLY TESTING EXAM QUESTIONS ACCURATELY
ANSWERES | A GRADE
Globalization - CORRECT ANSWER-The close integration of countries and peoples of the world.
Purchasing Power Parity (PPP) - CORRECT ANSWER-A conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - CORRECT ANSWER-A technique to prepare and plan for multiple scenarios
(either high or low risk).
Risk management - CORRECT ANSWER-The identification and assessment of risks and the
preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - CORRECT ANSWER-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) - CORRECT ANSWER-GDP + income from non-resident sources
abroad.
reverse innovation - CORRECT ANSWER-An 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 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.
BRIC - CORRECT ANSWER-Brazil, Russia, India, and China
base of the pyramid (BOP) - CORRECT ANSWER-Economies where people make less than $2,000
per capita per year.
, emerging economies - CORRECT ANSWER-A term that has gradually replaced the term
"developing countries" since the 1990's.
emerging markets - CORRECT ANSWER-A term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - CORRECT ANSWER-An organization that is not
affiliated with governments.
Expatriate Manager - CORRECT ANSWER-A manager who works "abroad", or "expat" for short.
Gross Domestic Product (GDP) - CORRECT ANSWER-The sum of value added by resident firms,
households, and governments
Foreign Direct Investment (FDI) - CORRECT ANSWER-Investment in, controlling, and managing
value-added activities in other countries.
Group of 20 (G-20) - CORRECT ANSWER-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 - CORRECT ANSWER-The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
global business - CORRECT ANSWER-Business around the globe.
international premium - CORRECT ANSWER-A significant pay raise when working overseas.
multinational enterprise (MNE) - CORRECT ANSWER-A firm that engages in foreign direct
investment (FDI)
Triad - CORRECT ANSWER-North America, Western Europe, and Japan
Expatriate Manager (expat) - CORRECT ANSWER-A manager who works abroad, or "expat" for
short.
Nontariff Barriers (NTB) - CORRECT ANSWER-Trade barrier that relies on nontariff means to
discourage imports.
tariff barrier - CORRECT ANSWER-Trade barrier that relies on tariffs to discourage imports.
deadweight costs - CORRECT ANSWER-Net losses that occur in an economy as a result of
tariffs.
VERSION CURRENTLY TESTING EXAM QUESTIONS ACCURATELY
ANSWERES | A GRADE
Globalization - CORRECT ANSWER-The close integration of countries and peoples of the world.
Purchasing Power Parity (PPP) - CORRECT ANSWER-A conversion that determines the
equivalent amount of goods and services that different currencies can purchase.
Scenario Planning - CORRECT ANSWER-A technique to prepare and plan for multiple scenarios
(either high or low risk).
Risk management - CORRECT ANSWER-The identification and assessment of risks and the
preparation to minimize the impact of high-risk , unfortunate events.
Gross National Income (GNI) - CORRECT ANSWER-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) - CORRECT ANSWER-GDP + income from non-resident sources
abroad.
reverse innovation - CORRECT ANSWER-An 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 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.
BRIC - CORRECT ANSWER-Brazil, Russia, India, and China
base of the pyramid (BOP) - CORRECT ANSWER-Economies where people make less than $2,000
per capita per year.
, emerging economies - CORRECT ANSWER-A term that has gradually replaced the term
"developing countries" since the 1990's.
emerging markets - CORRECT ANSWER-A term that is often used interchangeably with
"emerging economies"
nongovernmental organizations (NGO's) - CORRECT ANSWER-An organization that is not
affiliated with governments.
Expatriate Manager - CORRECT ANSWER-A manager who works "abroad", or "expat" for short.
Gross Domestic Product (GDP) - CORRECT ANSWER-The sum of value added by resident firms,
households, and governments
Foreign Direct Investment (FDI) - CORRECT ANSWER-Investment in, controlling, and managing
value-added activities in other countries.
Group of 20 (G-20) - CORRECT ANSWER-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 - CORRECT ANSWER-The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
global business - CORRECT ANSWER-Business around the globe.
international premium - CORRECT ANSWER-A significant pay raise when working overseas.
multinational enterprise (MNE) - CORRECT ANSWER-A firm that engages in foreign direct
investment (FDI)
Triad - CORRECT ANSWER-North America, Western Europe, and Japan
Expatriate Manager (expat) - CORRECT ANSWER-A manager who works abroad, or "expat" for
short.
Nontariff Barriers (NTB) - CORRECT ANSWER-Trade barrier that relies on nontariff means to
discourage imports.
tariff barrier - CORRECT ANSWER-Trade barrier that relies on tariffs to discourage imports.
deadweight costs - CORRECT ANSWER-Net losses that occur in an economy as a result of
tariffs.
