University of North Carolina, Greensboro

MGT 301

Chapter One

1)Critics of globalization argue that it eliminates jobs and lowers wages in developed nations and exploits workers in developing countries.

2. Flexible labor markets allow workers to be redeployed rapidly to sectors of the economy where they are highly valued and in demand.

3. Innovation in the shipping industry is facilitating globalization by making shipping more efficient and dependable.

4. GDP or GNP per capita is a nation's GDP or GNP multiplied by its population.

5. The power of the General Agreement on Tariffs and Trade (GATT) to settle trade disputes is what sets it apart from its predecessor, the World Trade Organization (WTO).

6. Multinational corporations (MNCs) have direct investments abroad in multiple countries.

7. A born global firm is a company that engages in international business from or near its inception.

8. Any commercial transaction that crosses the borders of two or more nations is known as

9. Globalization is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.