Globalization and Democracy Quiz

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What is the process of integration of economies across the world through cross-border flow of factors, product, and information?

Localization

Regionalization

Globalization (correct)

Nationalization

According to the International Monetary Fund (IMF), globalization involves the growing economic interdependence of countries worldwide through which of the following?

Increasing volume and variety of cross border transactions (correct)

Strict regulations on international trade

Limitation of technology diffusion

Complete isolation of countries

What does Steger define globalization as?

Isolation of economies

Limited technological advancements

Growing worldwide connectivity (correct)

National economic independence

In addition to economic dimensions, globalization also involves which of the following dimensions?

Political, technological, cultural, religious, ecological Signup and view all the answers

Which term describes the creation of something new and involves multiplication of social connections transcending traditional boundaries?

Globalization Signup and view all the answers

How does globalization impact social relations and consciousness according to the text?

Expands and intensifies them across world time and space Signup and view all the answers

What is a common argument made by globalists regarding the benefits of globalization?

Spread of democracy worldwide Signup and view all the answers

What do globalists consider synonymous?

Free markets and individual freedom Signup and view all the answers

Why is the neoliberal explanation of globalization considered ideological?

It is politically motivated Signup and view all the answers

What do globalists aim to create through globalism?

Collective meaning and people's identities Signup and view all the answers

How do globalists view the opportunities of globalization?

Unequally distributed with concentration of power and wealth Signup and view all the answers

What does globalization further in the world?

Spread of democracy Signup and view all the answers

What principle affirms that all members of the human family are responsible for one another?

Solidarity Signup and view all the answers

Which category of justice ensures basic equity in how both the burden and the goods of society are distributed?

Distributive justice Signup and view all the answers

The principle of preferential option of the poor is based on which theological concept according to the text?

Theology of the Incarnation Signup and view all the answers

Which commitment in the text emphasizes the idea that decisions should be made at the lowest level to achieve the common good?

Subsidiary Signup and view all the answers

Which aspect of justice aims at fulfilling the terms of contracts and other promises on both personal and social levels?

Communative justice Signup and view all the answers

Which category of justice refers to creating conditions where distributive justice can be realized and the common good identified and defended?

Social justice Signup and view all the answers

What is the aim of Economic and Monetary Union (EMU) according to the text?

To provide stability and growth across the euro area and EU Signup and view all the answers

In complete economic integration, what is foregone by member states?

Independence of monetary and fiscal policies Signup and view all the answers

What is included in complete economic integration?

Single currency, shared labor and capital regulations Signup and view all the answers

What does political integration involve according to the text?

Integration of political systems with economic, social, and other human systems Signup and view all the answers

What is the final stage of economic integration as described in the text?

Complete Economic Integration Signup and view all the answers

What is the aim of policy integration as mentioned in the text?

To establish a common policy framework for integrated economy parts Signup and view all the answers

What was the main function of the gold standard in the international monetary system?

Guarantee a non-inflationary, stable economic environment Signup and view all the answers

Why did the use of gold decline after World War I?

Increased expenditure and inflation caused by the war Signup and view all the answers

What was the primary reason for the failure of major economic powers to maintain the gold standard?

Great Depression in 1931 Signup and view all the answers

What was the purpose of the Bretton Woods system created in 1944?

Stabilize the international currency system Signup and view all the answers

What role did the United States play in the Bretton Woods system?

Held most of the world's gold Signup and view all the answers

Why did the Bretton Woods system end in 1971?

Trade deficit and growing inflation undermining the value of the dollar Signup and view all the answers