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 (C)</p> Signup and view all the answers

Which organization oversees international trade and trade rules among countries?

<p>WTO (D)</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 (D)</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 (B)</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 (A)</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 (D)</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 (D)</p> Signup and view all the answers

What policy was evident in the belief in neoliberalism?

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

What represents the setbacks of neoliberalism?

<p>Financialization (D)</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 (B)</p> Signup and view all the answers

What happened during the 2008-2009 Financial crises?

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

How is economic globalization defined?

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

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

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

What is the Washington Consensus?

<p>An outline of economic policy reforms to promote neoliberalism (B)</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 (D)</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 (C)</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 (D)</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 (D)</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 (B)</p> Signup and view all the answers

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

<p>Monetarism (C)</p> Signup and view all the answers

In which policy is the belief in neoliberalism evident?

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

What are the setbacks of neoliberalism?

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

What happened during the 2008-2009 Financial crises?

<p>Global recession and financial instability (A)</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 (B)</p> Signup and view all the answers

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

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

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

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

Which organization oversees international trade and trade rules among countries?

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

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

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

What was the oldest known 'international trade route'?

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

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