WGU C211 Global Economics for Managers Exam 3 (Latest 2023 - 2024)
New Full Exam Questions and Answers ( Included ) 100% Correct
- Base of they Pyramid
Answer:
The bottom of the economic pyramid.
The vast majority of humanity, about four billion people, lives at the base of this pyramid making less than $2,000 a year.
- Emerging Economies
Answer:
Developing countries that over the past two or three decades have begun to develop a strong industrial base, such as Singapore and Hong Kong.
Also called emerging markets
They account for about half of the worlds GDP
- Gross Domestic Product (GDP)
Answer:
The sum of value added by resident firms, households, and governments operating in an economy.
Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period.
However, the earnings of non-resident sources that are sent back to Mexico (such as earnings of Mexicans who do not live and work in Mexico, and dividends received by Mexicans who own non-Mexican stocks) are not included in Mexico's GDP.
- Gross National Product (GNP)
Answer: It comprises GDP plus income from nonresident sources abroad.
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- Purchasing Power Parity (PPP)
Answer:
The amount of money needed in one country to purchase the same goods and services in another country
It is an adjustment made to the GDP to reflect differences in the cost of living.
6. BRIC
Answer: Brazil, Russia, India, China
7. BRICS
Answer: Brazil, Russia, India, China, South Africa
As a group, BRICS countries have 40% of the world's population, cover a quarter of the world's land area, and contribute more than 25% of global GDP
- The Great Transformation
Answer: The transformation of the global economy that is embodied by the
tremendous shift in economic growth toward emerging economies in general and BRIC(S) in particular
- Global economy as a pyramid
Answer:
Top, 1 billion make over 20,000 annually Middle, 1 million, make 2,000-20,000 annually Bottom, 5 million make less than 2,000 annually
- Liability of foreignness
Answer: The inherent disadvantage that foreign firms experi ence in host countries because of their non-native status.
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