Chapter 11

Question 1

Bretton Woods system

Answer 1

An economic regime that manages international economic relations; this includes the International Monetary Fund (IMF), the World Bank, and the World Trade Organization.

Question 2

Globalization

Answer 2

The process of expanding and intensifying linkages between states, societies, and economies.

Question 3

Multinational corporation (MNC)

Answer 3

Firm that produces, distributes, and markets its goods or services in more than one country.

Question 4

Nongovernmental organization (NGO)

Answer 4

A national or international group, independent of any state, that pursues policy objectives and fosters public participation.

Question 5

Intergovernmental organization (IGO)

Answer 5

Group created by states to serve particular policy ends.

Question 6

International regime

Answer 6

The fundamental rules and norms that link states together and shape their relationships to one another, usually regarding some specific issues (such as greenhouse gases or trade)

Question 7

Foreign direct investment (FDI)

Answer 7

The purchase of assets in a country by a foreign firm.

Question 8

Offshore outsourcing

Answer 8

A process by which a firm moves some of its work to a secondary business, outside the home country, that can do the work more efficiently or cheaply.

Question 9

Trans-Pacific Partnership (TPP)

Answer 9

Proposed agreement among 12 countries to liberalize trade through reduced tariffs and common regulations; abandoned by the United States in 2017