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Questions and Answers
What was the main purpose of the General Agreement on Tariffs and Trade (GATT) established in 1947?
What was the main purpose of the General Agreement on Tariffs and Trade (GATT) established in 1947?
- To provide loans to countries facing credit crises
- To establish food safety standards worldwide
- To reduce tariffs and other impediments to free trade (correct)
- To negotiate intellectual property rights agreements
Which economist's belief served as the foundation for what would be known as a system of global Keynesianism?
Which economist's belief served as the foundation for what would be known as a system of global Keynesianism?
- John Maynard Keynes (correct)
- Milton Friedman
- Karl Marx
- Adam Smith
What is the effect of Expansionary Fiscal Policy?
What is the effect of Expansionary Fiscal Policy?
- Decrease tax, increase spending
- Increase tax, increase spending (correct)
- Decrease tax, decrease spending
- Increase tax, decrease spending
What was the role of the International Bank for Reconstruction and Development (IBRD, or World Bank) after World War II?
What was the role of the International Bank for Reconstruction and Development (IBRD, or World Bank) after World War II?
Which international organization was designed primarily for the Marshall Plan post-World War II?
Which international organization was designed primarily for the Marshall Plan post-World War II?
What was the main purpose behind establishing the World Trade Organization (WTO) in 1995?
What was the main purpose behind establishing the World Trade Organization (WTO) in 1995?
Which form of connectivity is most affected when a country's homeland experiences a financial crisis?
Which form of connectivity is most affected when a country's homeland experiences a financial crisis?
Which of the following is not one of the original five member-countries of the Association of Southeast Asian Nations (ASEAN)?
Which of the following is not one of the original five member-countries of the Association of Southeast Asian Nations (ASEAN)?
What is the main purpose of Free Trade Agreements (FTAs) among member-states of regional blocks?
What is the main purpose of Free Trade Agreements (FTAs) among member-states of regional blocks?
Which global economic organization emerged out of the General Agreement on Tariffs and Trade (GATT) in 1995?
Which global economic organization emerged out of the General Agreement on Tariffs and Trade (GATT) in 1995?
Which wave of economic globalization is associated with the Silk Road?
Which wave of economic globalization is associated with the Silk Road?
Which of the following is not a characteristic of economic globalization as described in the passage?
Which of the following is not a characteristic of economic globalization as described in the passage?
What was the key reason for the abandonment of the gold-exchange standard by the United States in 1971?
What was the key reason for the abandonment of the gold-exchange standard by the United States in 1971?
Which of the following best describes the economic strategy of import substitution?
Which of the following best describes the economic strategy of import substitution?
Which of the following is not considered one of the 'Four Asian Tigers'?
Which of the following is not considered one of the 'Four Asian Tigers'?
What is the primary purpose of the conditions attached to loans extended by the IMF to poor countries?
What is the primary purpose of the conditions attached to loans extended by the IMF to poor countries?
Which of the following is a key characteristic of 'crony capitalism'?
Which of the following is a key characteristic of 'crony capitalism'?
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