GE CW: Globalization

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What is the primary driver of international trade according to the text?

Currency exchange rates

Government regulations

Technological advancements

Market demand (correct)

Which factor contributes to the increased interconnectedness of economies worldwide?

Advancements in technology (correct)

Isolationism

Localization of production

Protectionist trade policies

What role do multinational corporations (MNCs) play in the global economy?

Contributing to employment and trade (correct)

Reducing economic disparities

Limiting global production

Restricting international trade

Which institutions are involved in regulating global economic activities?

International Monetary Fund (IMF) Signup and view all the answers

What is a key focus of efforts related to economic development?

Promoting sustainable development and poverty reduction Signup and view all the answers

Governments and central banks implement which types of policies to manage economic stability?

Fiscal and monetary policies Signup and view all the answers

What is one of the key features of globalization mentioned in the text?

Complex global supply chains Signup and view all the answers

Which factor enables increased trade flows across national borders according to the text?

Reduction in trade barriers such as tariffs Signup and view all the answers

What does Foreign Direct Investment (FDI) involve as described in the text?

Capital investment by multinational corporations in foreign countries Signup and view all the answers

Which technological advancements are mentioned as contributing to globalization?

Development of telecommunication systems Signup and view all the answers

How does globalization impact cultural exchange based on the provided text?

Promotes cultural homogenization or hybridization Signup and view all the answers

What is the primary purpose of global supply chains in the context of globalization?

To optimize efficiency and reduce costs through production networks spanning multiple countries Signup and view all the answers

Which of the following is NOT a key aspect of world trade policy?

Regulation of domestic labor laws Signup and view all the answers

What is the primary goal of world trade policy?

To foster economic growth, development, and welfare worldwide Signup and view all the answers

Which of the following is an example of a trade barrier that may be imposed by governments?

Import quotas Signup and view all the answers

What is the purpose of trade facilitation measures in world trade policy?

To simplify and streamline customs procedures and documentation Signup and view all the answers

Which of the following is NOT typically covered by intellectual property rights in the context of world trade policy?

Labor union regulations Signup and view all the answers

What is the primary purpose of free trade agreements between countries?

To reduce trade barriers such as tariffs and quotas Signup and view all the answers

GE CW: Globalization

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