Globalization and Global Economy

Question 1

It suggests that following initial investment, countries would then set off on an evolutionary process in which they would progress up 5 stages of the development ladder which will take 60 years to reach modernization.

Answer 1

Walt Rostow’s theory of Modernization

Question 2

This theory argues that liberal trade causes greater impoverishment, not an economic improvement, to less developed countries.

Answer 2

Dependency Theory

Question 3

In this theory, the periphery remains economically dependent on the core in a number of ways; Poor nations tend to have few resources to export to rich countries.

Answer 3

Modern World Systems

Question 4

This theory frames global stratification as a function of technological and cultural differences between nations.

Answer 4

Modernization theory

Question 5

Solidity describes a world in which barriers exist and are erected to prevent the free movement of all sorts of things. All are examples of solidity, except:

Answer 5

All of the above are examples of Solidity

Question 6

A policy of systematic government intervention in foreign trade with the objective of encouraging domestic production is called ________.

Answer 6

Protectionism

Question 7

T or F : Philippines is the 2nd largest exporter of bananas in the world.

Answer 7

True

Question 8

T or F : In sum, under the dependency theory, the problem is that there is lack of global wealth; that is why it is hard to distribute goods.

Answer 8

False

Question 9

This refers to the current happenings in human society.

Answer 9

Contemporary World

Question 10

T or F: It is better to experience the negative impacts of globalization rather than not to experience globalization at all.

Answer 10

True

Question 11

T or F : Microcredit can help low-income households to stabilized their income flows and save for future needs.

Answer 11

True

Question 12

When did the Protectionism started?

Answer 12

Mercantilist era

Question 13

The event that heavily influenced the shifting of dominant economic policy from protectionism to trade liberalization.

Answer 13

World War 2

Question 14

T or F : According to the cyclical perspective, globalization starts when a specific event happens like the COVID-19 pandemic.

Answer 14

False

Question 15

It refers to the Transplanetary process(es) involving increasing liquidity and growing multi - directional flows as well as the structures they encounter and create.

Answer 15

Globalization

Question 16

India practices what type of economy?

Answer 16

Protectionism

Question 17

T or F : Exploitation and oppression of workers can be avoided with the help of economic and trade globalization.

Answer 17

True

Question 18

Did the United Nation successfully eradicate extreme poverty and hunger.

Answer 18

Yes, but not entirely

Question 19

Statement: All goods and services that the business in the country produce for sale can be an indicator of economic growth. Products are sold domestically can not be an indicator of economic growth because it is only consumed in the country, not overseas.

Answer 19

First statement is correct, Second is wrong

Question 20

Statement: Time is of the essence why some “solids” “melt or “liquify”. And once the liquid phenomena “move”, they are difficult to stop.

Answer 20

Both statement is correct

Question 21

T or F : NAFTA stands for North Atlantic Free Trade Association.

Answer 21

False

Question 22

An imaginary linee used by China in their claim to the South China Sea.

Answer 22

Nine-dash-line

Question 23

T or F : United States of America is not a pure capitalist society.

Answer 23

True

Question 24

A metaphor that if one leaves a capitalist economy alone, consumers will regulate things themselves by selecting goods and services that provide the best value.

Answer 24

Invisible hands

Question 25

T or F: Philippines is one of the big exporters of Nitrogen in the world.

Answer 25

False

Question 26

Which is true about North American Neo-Marxist Approach.

Answer 26

All of the Above are true

Question 27

T or F: Ever since Christopher Columbus discovered the Americas, people from America provides technology, education and medicines in Europe.

Answer 27

False

Question 28

T or F: Economic and trade globalization is the result of companies trying to outmaneuver their competitors.

Answer 28

True

Question 29

T or F: Martin Khor’s said that “Globalization is what we in the Third World have for several centuries called colonization”. His definition is a negative view of globalization.

Answer 29

True

Question 30

What happens when a country practices a pure capitalist society?

Answer 30

The consumers will be the one to regulate the goods and services which would lead to monopoly.