Module 1: Globalization Structures and World Economics
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Module 1: Globalization Structures and World Economics

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Questions and Answers

What is economic globalization?

  • The abolition of gold standard
  • The silk road
  • Trade liberalization (correct)
  • The Great depression

    • Which event marked the beginning of the gold standard?

  • The floating currencies
  • The Great depression
  • The age of mercantilism (correct)
  • The silk road

    • What is the Bretton Woods system?

  • What is GATT
  • What is IMF
  • What is world bank (correct)
  • What is Keynesianism

    • The concept of Neoliberalism is most closely associated with:

    <p>Mortgage crisis</p> Signup and view all the answers

    Which organization oversees international trade and trade rules among countries?

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

    What does the term 'Race to the bottom' refer to in the context of globalization?

    <p>Exports competition</p> Signup and view all the answers

    What is the historical process representing the result of human innovation and technological progress as defined by IMF?

    <p>Economic globalization</p> Signup and view all the answers

    What is characterized by the increasing integration of economies around the world through the movement of goods, services, and capital across borders?

    <p>Economic globalization</p> Signup and view all the answers

    Which concept relates to the belief in free-market capitalism, deregulation, and open trade, often associated with Hayek and Friedman?

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

    What was the network of pathways in the ancient international trade route known as?

    <p>International Trading System: Silk Road</p> Signup and view all the answers

    What policy was evident in the belief in neoliberalism?

    <p>Washington Consensus</p> Signup and view all the answers

    What represents the setbacks of neoliberalism?

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

    During which period was the Bretton Woods Monetary System explained in one minute?

    <p>Mid-1940s to early 1970s</p> Signup and view all the answers

    What happened during the 2008-2009 Financial crises?

    <p>$1 trillion stimulus package was introduced</p> Signup and view all the answers

    How is economic globalization defined?

    <p>'A historical process representing human innovation and technological progress'</p> Signup and view all the answers

    'The contemporary world' is a publication by which company?

    <p>'C &amp; E Publishing, Inc.'</p> Signup and view all the answers

    What is the Washington Consensus?

    <p>An outline of economic policy reforms to promote neoliberalism</p> Signup and view all the answers

    What is the significance of the Gold Standard in the history of global economics?

    <p>It linked currencies to a specific amount of gold, affecting international trade and finance</p> Signup and view all the answers

    What is the role of the International Monetary Fund (IMF) in the context of economic globalization?

    <p>To provide financial assistance and promote stability in the global monetary system</p> Signup and view all the answers

    What is the concept of 'race to the bottom' in the context of globalization?

    <p>Competition among countries to lower labor and environmental standards to attract investment</p> Signup and view all the answers

    How did the Great Depression impact global market integration in the 20th century?

    <p>It sparked protectionist policies and hindered international trade and economic integration</p> Signup and view all the answers

    What is the purpose of the World Trade Organization (WTO) in the context of economic globalization?

    <p>To oversee and regulate international trade agreements, resolve disputes, and promote free trade</p> Signup and view all the answers

    What was one of the solutions introduced by Hayek and Friedman?

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

    In which policy is the belief in neoliberalism evident?

    <p>Laissez-faire capitalism</p> Signup and view all the answers

    What are the setbacks of neoliberalism?

    <p>Income equality and wealth redistribution</p> Signup and view all the answers

    What happened during the 2008-2009 Financial crises?

    <p>Global recession and financial instability</p> Signup and view all the answers

    What is economic globalization characterized by?

    <p>Increasing integration of economies through movement of goods, services, and capital</p> Signup and view all the answers

    What represents a historical process resulting from human innovation and technological progress?

    <p>Economic globalization</p> Signup and view all the answers

    'The Contemporary World' is a publication by which company?

    <p>C &amp; E Publishing, Inc.</p> Signup and view all the answers

    Which organization oversees international trade and trade rules among countries?

    <p>World Trade Organization (WTO)</p> Signup and view all the answers

    'The Bretton Woods Monetary System' was explained in one minute by which channel?

    <p>One Minute Economics</p> Signup and view all the answers

    What was the oldest known 'international trade route'?

    <p>The Silk Road</p> Signup and view all the answers

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