midterm

Question 1

Refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of g and service, flow of international capital, and wide and rapid spread of technologies

Answer 1

ECONOMIC GLOBALIZATION

Question 2

Two types of economies associated with economic globalization

Answer 2

PROTECTIONISM
TRADE LIBERALIZATION

Question 3

It refers to the government policies that restrict international trade to help domestic industries.

Answer 3

PROTECTIONISM

Question 4

These are usually implemented with the goal to improve economic activity within a domestic economy but can also be implemented for safety or quality concerns

Answer 4

PROTECTIONIST POLICIES

Question 5

It is the removal or reduction of restrictions or barriers on the free exchange of goods between nations.

Answer 5

TRADE LIBERALIZATION

Question 6

They often view the easing or eradication of these restrictions as steps to promote free trade.

Answer 6

ECONOMISTS

Question 7

It is a tax imposed by one country on the goods and services imported from another country.

Answer 7

TARIFF

Question 8

These are used to restrict imports by increasing the price of goods and services purchased from another country, making them less attractive to domestic consumers.

Answer 8

TARIFF

Question 9

It refers to the growing interdependence of world economies as a result of cross-border trade in goods and services, the flow of international capital, and the wide and quick spread of technologies.

Answer 9

ECONOMIC GLOBALIZATION

Question 10

It is one of the three moin dimensions of globolizotion commonly found in ocodemic literoture, with the
others being political globalization and cultural globalization, as well as the general term of globalization.

Answer 10

ECONOMIC GLOBALIZATION