MGMT 3211 Chapter 6

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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


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