Globalization and Democracy Quiz
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Questions and Answers

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?

    <p>Political, technological, cultural, religious, ecological</p> Signup and view all the answers

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

    <p>Globalization</p> Signup and view all the answers

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

    <p>Expands and intensifies them across world time and space</p> Signup and view all the answers

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

    <p>Spread of democracy worldwide</p> Signup and view all the answers

    What do globalists consider synonymous?

    <p>Free markets and individual freedom</p> Signup and view all the answers

    Why is the neoliberal explanation of globalization considered ideological?

    <p>It is politically motivated</p> Signup and view all the answers

    What do globalists aim to create through globalism?

    <p>Collective meaning and people's identities</p> Signup and view all the answers

    How do globalists view the opportunities of globalization?

    <p>Unequally distributed with concentration of power and wealth</p> Signup and view all the answers

    What does globalization further in the world?

    <p>Spread of democracy</p> Signup and view all the answers

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

    <p>Solidarity</p> 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?

    <p>Distributive justice</p> Signup and view all the answers

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

    <p>Theology of the Incarnation</p> 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?

    <p>Subsidiary</p> 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?

    <p>Communative justice</p> 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?

    <p>Social justice</p> Signup and view all the answers

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

    <p>To provide stability and growth across the euro area and EU</p> Signup and view all the answers

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

    <p>Independence of monetary and fiscal policies</p> Signup and view all the answers

    What is included in complete economic integration?

    <p>Single currency, shared labor and capital regulations</p> Signup and view all the answers

    What does political integration involve according to the text?

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

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

    <p>Complete Economic Integration</p> Signup and view all the answers

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

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

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

    <p>Guarantee a non-inflationary, stable economic environment</p> Signup and view all the answers

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

    <p>Increased expenditure and inflation caused by the war</p> Signup and view all the answers

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

    <p>Great Depression in 1931</p> Signup and view all the answers

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

    <p>Stabilize the international currency system</p> Signup and view all the answers

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

    <p>Held most of the world's gold</p> Signup and view all the answers

    Why did the Bretton Woods system end in 1971?

    <p>Trade deficit and growing inflation undermining the value of the dollar</p> Signup and view all the answers

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