MGMT 3211 Chapter 6
Only manufacturing jobs are being lost through globalization.
False
The World Bank makes currency exchange easier for member countries so that they can participate in global trade.
False
The World Trade Organization conducts negotiations, called "cycles," on various topics, rotating its meetings among different cities.
False
The World Trade Organization is based in the United States.
False
Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.
True
global action network
a collaborative, multisector partnership focused on particular social issues or problems in the global economy
democracy
a form of government in which power is vested in the people and exercised by them directly or by their elected representatives
military dictatorships
a repressive regime ruled by a dictator who exercises total power through control of the armed forces
free enterprise system
a socioeconomic system based on private ownership, profit-seeking business firms, and the principle of free markets
Critics of globalization support the spread of American ideals and culture throughout the rest of the world.
False
Globalization is accepted worldwide and creates little controversy.
False
Most nations in the world share similar political, social and economic beliefs.
False
Although many firms conduct business across national boundaries, most global commerce is carried out by a small number of powerful firms.
True
At the beginning of the 20th century, no country in the world had universal suffrage.
True
Even as the world has become freer politically and economically, inequality has grown.
True
Global commerce has taken place for hundreds of years, dating back to the 15th century.
True
Globalization directly and indirectly influences the politics, environment, geopolitics, and economics of virtually every country in the world.
True
Productivity rises more quickly when countries produce goods and services for which they have a natural talent.
True
The term sector refers to broad divisions of a whole.
True
central state control
a socioeconomic system in which economic power is concentrated in the hands of government officials and political authorities. The central government owns the property that is used to produce goods and services, and most private markets are illegal
international monetary fund
an international financial institution that lends foreign exchange to member nations so they can participate in global trade
world bank
an international financial institution that provides economic development loans to member nations
world trade organization
an organization of member nations that established the ground rules for trade among nations
transnational coroporation
corporations that operate and control assets across national boundaries
international financial and trade institution
institutions, such as the World Bank, International Monetary Fund, and World Trade Organization, that establish rules by which international commerce is conducted
civil society
nonprofit, educational, religious, community, family, and interest-group organizations; social organizations that do not have a commercial or governmental purpose
anti-Americanism
opposition to the United State, or to its people, principles, or policies
nongovernmental organizations
organizations that do not have a governmental or commercial purpose, such as religion, community, family, and interest-group organizations. Also called civil society or civil sector organizations
debt relief
the idea that the world's richest nations should forgive poor nations' obligation to pay back loans
globalization
the movement of goods, services, and capital across national borders
foreign direct investment
when a company, individual, or fund invests money in another country
constructive engagement
when transnational corporations guided by strong moral principles become a force for positive change in other nations where they operate
