Globalization of World Economies: GEC 103 Week 2 Quiz

What historical process represents the result of human innovation and technological progress?

Which trading system connected Manila and Acapulco in Mexico?

What economic policy urged countries to compete with one another in order to boost their income?

Which network of pathways spanned from China to the Middle East and Europe in the ancient world?

What characterized the earliest known trading system in history?

Which group of countries accounted for 51% of global exports by 2011?

What is an example of a developed country safeguarding its primary products from imports?

What characterizes the economic relations between rich and poor countries according to the text?

What do governments do to attract Transnational Corporations (TNCs) according to the text?

What is the 'race to the bottom' referenced in the text?

Which region experienced a large growth rate in their economies based on the text?

What was one of the strategies used by countries to defend their products from competitors?

Which international economic system was based on the value of gold and established a fixed exchange rate system?

What is a characteristic of flat currencies?

Which organization serves as a global lender of last resort to prevent credit crises in individual countries?

What was a consequence of the 1970s Oil Embargo imposed by OPEC?

Which collective advocated for reducing government debt, minimal government spending, and privatization of services?

What event can be traced back to the removal of banking and investment restrictions in the US during the 1980s?

What has impacted international trade due to increased global integration according to the text?