Globalization chapter 3

The main reason that gross national income figures can be misleading is because they

don't consider differences in the cost of living.

The three measures of the ________ are life expectancy at birth, educational attainment, and average incomes based on PPP estimates.

Human Development Index

A country that has ________ is an unattractive choice for international business.

a closed totalitarian dictatorship

People in the West tend to associate a representative democracy with

a market economic system.

In many of the world's nation-states, there has been a move away from ________ since the late 1980

centrally planned command economies

The development of new products, processes, organizations, management practices, and strategies is called

innovation.

What is one of the three measures used to determine the Human Development Index (HDI) of a country?

life expectancy at birth

In 2017, the Brazilian government transferred the state ownership of the electric company, the airports, highways, and ports to private investors to stimulate the economy. This is an example of

privatization.

Julie asked her assistant to determine the gross national income of three different countries by evaluating the GNI against the cost of living in the United States. What measure is Julie asking her assistant to use?

purchasing power parity

The base for the adjustment of purchasing power parity is the cost of living in

the United States.

Gross national income figures should be carefully evaluated because they don't take into account differences in

the cost of living.

A country that has ________ lowers the risk of doing business in that country.

the presence of a strong legal system