INTL 101 1sd EditionExam #2 Study Guide1. ___Mercantilism____ is the economic approach that promotes the aggressive pursuit ofexport outlets and the simultaneous protection of domestic markets.2. The idea that countries should produce and export those goods that they can produce ata lower cost than others and import those items that others produce at a lower cost isalso known as _____ comparative advantage __.3. The United States is an example of a ___hegemon __, or a dominant power in the globaleconomy.4. Dependency theory posits that the development of countries in the Global South islimited by the unfavorable terms through which they have been integrated into theglobal capitalist economy.5. US dollars earned through the sale of oil are also known as __petrodollars__.6. ____Neoliberalism______ is a set of economic principles that promote free marketcapitalism and closely reflect the ideals of contemporary globalization.7. The International Monetary Fund often imposed a policy of _conditionality, in whichprospective borrowers had to adhere to certain requirements in order to be qualified forloans and grants.8. Both ____outsource___ and ____offshore____ refer to the displacement of workactivity, as highlighted by the generation of $16 billion and employment of 800,000people in India.9. One of the most contentious issues in international trade has been protectionism in___agriculture___, in particular in terms of the elimination of subsidies.10. Patents, copyrights, and trademarks extended to individuals and organizations to protecttheir ownership of products generated through original ideas fall under the guise of_____intellectual property rights IPR__.11. __direct investment_____ describes the acquisition of corporate assets through thepurchase of property, plant, or equipment.12. In 1995, the Organization for Economic Cooperation and Development (OECD) launchedthe ______Multilateral agreement on investment (MAI)______, seeking to develop atreaty that assured foreign investors fair and uniform treatment while granting hostcountries greater authority to mandate responsible behavior within their borders.13. ___securitization__ is the pooling of various loans into securities and selling them toother institutions.14. __Culture shock___ is the physical and psychological response to cultural differenceswhen traveling from one country or region to another.15. The period after the Middle Ages from the mid-1600s to the 1800s when philosophicalviews emerged that advocated a society based on personal choice and guided by reasonis often referred to as __enlightenment_.16. The ___proletariat___ is a social group, described by Marx and Engels, comprised ofindustrial workers.17. ___anthropology____ is the field of study that examines the physical attributes ofhuman beings, as well as their social and cultural characteristics18. The cultural understanding in terms of the environment in which it exists refers to__cultural relativism___.19. __cultural imperialism____ refers to when smaller cultures are dominated by othercultures to the point that they are forced to change their cultural practices.20. The blending of cultures that incorporates different aspects of each culture to create anew entity is often referred to as __hybridization___21. Sociologist George Ritzer coined the term _____McDonaldization___ to describeprocesses that impose pressure to adhere to homogenous standards and values.22. Political scientist Michael Veseth coined the term __globaloney_, referring to theoveremphasis on the homogenizing nature of globalization23. __migration__, or the movement of people across borders, is often spurred on byconflict, environmental crises, and poverty.24. Thirty-five nations worldwide embrace some form of__sharia law__, an Islamic legalsystem.25. ___ethnic conflict____ refers to situations that arise when differences in identity are toogreat to reconcile within state boundaries26. _genocide_, or the deliberate and systematic killing of a group of people based on theirnational or ethnic identification, is an example of _ethnic cleansing__, or when onegroup forcibly removes another by violence or