The Globalization Challenge
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Questions and Answers

Which of the following best describes globalization?

  • The process of national economies and business systems becoming interconnected (correct)
  • The process of protecting national economies from foreign influence
  • The process of promoting national differences in business systems
  • The process of limiting international trade

    • According to Friedrich Hayek and Milton Friedman, what did they attack?

  • The idea of successful democracy
  • The process of globalization
  • The notion that international trade destroys jobs
  • The Marxist notion of history as a teleological process (correct)

    • What are the constraints limiting the pace of globalization?

  • National differences in business systems and consumer behavior (correct)
  • The correlation between economic development and successful democracy
  • The protectionist countertrends
  • The process of international payments

    • What does Francis Fukuyama assert about the correlation between economic development and successful democracy?

    <p>There exists a clear correlation</p> Signup and view all the answers

    What does the term 'international monetary system or regime' refer to?

    <p>The rules, customs, instruments, facilities, and organizations for affecting international payments</p> Signup and view all the answers

    Which of the following is a constraint limiting the pace of globalization?

    <p>All of the above</p> Signup and view all the answers

    According to Amin (1993), what is the impact of the world economy?

    <p>It is such that it hinders economic development</p> Signup and view all the answers

    What did Friedrich Hayek and Milton Friedman attack?

    <p>The notion of history as a teleological process</p> Signup and view all the answers

    What is globalization?

    <p>The process of becoming deeply interlinked with national economies and business systems</p> Signup and view all the answers

    According to Francis Fukuyama, what is the correlation between a country's level of economic development and successful democracy?

    <p>There is a clear correlation</p> Signup and view all the answers

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