Chapter 11 Vocabulary (Textbook)

Question 1

Bretton Woods system

Answer 1

An economic regime that manages international economic relations; this includes the IMF, the World Bank, and the WTO

Question 2

foreign direct investment (FDI)

Answer 2

The purchase of assets in a country by a foreign firm

Question 3

globalization

Answer 3

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

Question 4

intergovernmental organizations

Answer 4

Group created by states to serve particular policy ends

Question 5

multinational corporation (MNC)

Answer 5

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

Question 5

nongovernmental organization (NGO)

Answer 5

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

Question 5

international regime

Answer 5

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 6

offshore outsourcing

Answer 6

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 7

Trans-Pacific Partnership (TPP)

Answer 7

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