International business and trade quiz 1

Question 1

What is globalization?
A) A process of increasing isolation between countries.
B) The socioeconomic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries.
C) A method of promoting national industries over international ones.
D) A term synonymous with Westernization or Americanization.

Answer 1

B)The socioeconomic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries.

Question 2

Which of the following countries is NOT considered an emerging economy as per the document?
A) Brazil
B) Russia
C) China
D) Japan

Answer 2

D) Japan

Question 3

What does the term “decoupling” refer to?
A) The separation of economic policies between developed and developing nations.
B) A global shift where developing economies grow based on their own economic strengths rather than those of highly developed countries.
C) The process of reducing economic dependency on global trade.
D) The increase of political barriers between nations.

Answer 3

A global shift where developing economies grow based on their own economic strengths rather than those of highly developed countries.

Question 4

Which institution is primarily responsible for promoting international monetary cooperation and financial stability?

Answer 4

The International Monetary Fund (IMF)

Question 5

Which organization is known for providing political risk coverage for private investments in developing countries?

Answer 5

Multilateral Investment Guarantee Agency (MIGA)

Question 6

Globalization is the same as Westernization or Americanization.

Answer 6

False

Question 7

The World Bank was initially created to aid in the reconstruction of Europe after World War II.

Answer 7

True

Question 8

The digital divide refers to the gap in access to information technology between different regions or populations.

Answer 8

True

Question 9

What are the key factors that effective policy measures should focus on to promote globalization?

Answer 9

Good governance, property rights, competitive markets, anticorruption policies.

Question 10

Name three global institutions that play a key role in facilitating globalization.

Answer 10

International Monetary Fund (IMF), World Bank, World Trade Organization (WTO).