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THE CONTEMPORARY WORLD > SUMMATIVE TEST > Flashcards

SUMMATIVE TEST Flashcards

1
Q

Globalization refers to:

A

A more integrated and interdependent world

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2
Q

Which one of the following is a push factor in emigration

A

War

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3
Q

Which of the following do NOT facilitate globalization?

A

Barriers to trade and investment

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4
Q

Which of the following constitutes Foreign Direct Investment? *

A

A UK energy company buying territory abroad where it expects to find oil reserves

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5
Q

. Which of the following could be defined as a multinational company?

A

A firm owning a chain of supermarket outlets outside its country of origin

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6
Q

Which of the following is a driver of globalization? *

A

Technological advance

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7
Q

Globalization is beneficial for firms because: *

A

It opens up new market opportunities

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8
Q

The internet facilitates globalization by: *

A

Cutting the cost for firms of communicating across borders

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9
Q

What might western food MNCs encounter when launching operations in Africa or the Middle East?

A

. Corruption

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10
Q

Globalization can create problems for business because:

A

It can result in more competition

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11
Q

The past two decades of globalization has seen rapid movements in

A

Goods, services and investments between countries

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12
Q

The most common route for investments by MNCs in countries around the world is to: *

A

Buy existing local companies

. Set up new factories

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13
Q

Globalization has led to higher standards of living o

A

Well-off consumers

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14
Q

A company that owns or controls production in more than one nation is called:

A

Multinational corporation

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15
Q

Where do MNCs choose to set up production?

A

Cheap labor resources

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16
Q

. Trade between countries: *

A

Determines prices of products in different countries

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17
Q

Globalization by connecting countries leads to:

A

Greater competition among producers

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18
Q

One major factor that has stimulated the globalization process is:

A

Rapid improvement in technology

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19
Q

If tax is imposed on Chinese toys, what will happen?

A

Indian toy-makers will prosper

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20
Q

Which out of the following is an example of a trade barrier? *

A

Tax on imports

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21
Q

Removing barriers or restrictions set by the government is called:

A

Liberalization

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22
Q

WTO aims at:

A

Liberalizing international trade

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23
Q

Which out of the following industries has a large number of well-off buyers in urban areas? *

A

Automobiles

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24
Q

. Globalization has created new opportunities of:

A 
A. Employment
B. Emerging multinationals
C. Providing services
D. All of the above
(D)
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25
Q

One major government initiative to attract foreign companies to invest in India is: *

A

To build special economic zones

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26
Q

Globalization has posed major challenges for:

A

Small producers

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27
Q

With the growing competition, most employers these days prefer to employ workers: *

A

Flexible

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28
Q

. Globalization opportunities for paid work for women has denied them: *

A

Permanent job

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29
Q

Fair globalization would mean

A 
A. Fair opportunities for all
B. Fair benefits for all
C. More support to small producers
D. All of the above
DDD
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30
Q

. Government can make globalization more ‘fair’ by:

A

Implementing the labor laws

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31
Q

TRUE OR FALSE Globalization refers to the shift toward a more integrated and interdependent world economy *

A

TRUE

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32
Q

TRUE OR FALSE

Tastes and preferences of consumers in different nations are beginning to converge on some global norm. *

A

TRUE

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33
Q

TRUE OR FALSE

. A company has to be a major multinational corporation to facilitate, and benefit from, the globalization of markets. *

A

FALSE

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34
Q

TRUE OR FALSE

. In Germany, 98 percent of small and midsize companies have exposure to international markets. *

A

A. TRUE

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35
Q

TRUE OR FALSE
Currently, the most global of markets are for industrial goods and materials that serve a universal need the world over. *

A

A. TRUE

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36
Q

TRUE OR FALSE

As firms follow each other around the world, greater diversity replaces uniformity *

A

B. FALSE

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37
Q

TRUE OR FALSE
Substantial impediments such as barriers to foreign direct investment make it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe *

A

TRUE

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38
Q

TRUE OR FALSE

GATT stands for the General Agreement on Tariffs and Trade *

A

A. TRUE

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39
Q

TRUE OR FALSE

. As of 2008, 149 nations, which collectively accounted for 90 percent of world trade, were WTO members *

A

B. FALSE

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40
Q

TRUE OR FALSE

The United Nations and the World Bank were both created in 1944 by 44 nations that met at Breton Woods, New Hampshire *

A

B. FALSE

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41
Q

What is the role of the IMF?

A

It observes world exchange rates, balance of payments and multilateral payments

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42
Q

. What is the IMF’s primary objective? *

A

. The overall promotion of world trade

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43
Q

The functions of the International Monetary Fund include all of the following except:

A

To serve as the world central bank

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44
Q

What was the agreement for Bretton Woods System? *

A 
A. Fixed Exchange Rate
B. US Dollar as reserve currency
C. US dollar was pegged to gold at $35 an ounce
D. All of the above
DDD
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45
Q

Which were the two institutions that were instituted during the Bretton Woods System era?

A

International Monetary Fund and World Bank

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46
Q

What international institution was not part of the Bretton Woods system at its creation?

A

The United Nations

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47
Q

In 1995 the GATT became *

A

. The World Trade Organization (WTO)

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48
Q

What can be seen as both a “reaction against” and a “product of” globalization? *

A

A. Nationalism

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49
Q

The process by which a state interacts with the global system of states is called *

A

B. . The foreign policy process

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50
Q

Nationalism has served as an important component of state building and for the formation of __________ within societies. *

A

B. A common identity and consciousness.

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51
Q

The government officials who use mass culture and mass media to send messages are: *

A

D. . “Conducting public diplomacy.”

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52
Q

The World Bank was originally the International Bank of Reconstruction and Development that was initially tasked with which of the following? *

A

A. Facilitating private investment and reconstruction

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53
Q

The WTO replaced which organization *

A

C. GATT

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54
Q

. In 1947 which organization became the forum for negotiations on trade liberalization? *

A

B. GATT

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55
Q

are becoming increasingly important in the development and codification of international legal norms *

A

Nation-States

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56
Q

The International Court of Justice is based in: *

A

B. . The Hague, the Netherlands

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57
Q

The Organization of American States (OAS) and the Association of Southeast Asian Nations (ASEAN) are examples of *

A

B. Regional organizations

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58
Q

International law is an example of a/an: *

A

International organization

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59
Q

At the International Court of Justice *

A

A. States may sue states

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60
Q

The government policy of discouraging imports through the imposition of tariffs and non-tariff barriers is called: *

A

B. Protectionism

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61
Q

TRUE OR FALSE

. Global income inequality is decreasing between rich and poor countries *

A

FALSE

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62
Q

TRUE OR FALSE

World Bank definitions of poverty initially valued social well-being over material standards. *

A

FALSE

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63
Q

TRUE OR FALSE

A “New World Social Contract” is currently being implement by the IMF and World Bank. *

A

FALSE

64
Q

TRUE OR FALSE

Regions are considered open when the member countries are democracies *

A

FALSE

65
Q

TRUE OR FALSE

Globalization has often been accompanied by decreased levels of debt, poverty, and exclusion *

A

FALSE

66
Q

TRUE OR FALSE

International organizations are exclusively for states. *

A

FALSE

67
Q

TRUE OR FALSE

Greenpeace is an intergovernmental organization *

A

FALSE

68
Q

TRUE OR FALSE

. The North American Free Trade Agreement is an example of a regional organization. *

A

FALSE

69
Q

TRUE OR FALSE

The “Clash of Globalizations” is between corporations and social movements. *

A

FALSE

70
Q

TRUE OR FALSE
A positive implication of diversity in the global era is the appropriation of cultural customs, clothes, and jewellery. *

A

FALSE

71
Q

TRUE OR FALSE

. Democracy is a component of a state. *

A

FALSE

72
Q

TRUE OR FALSE

There has been a globalization of culture. *

A

TRUE

73
Q

TRUE OR FALSE

In the era of globalization, many different kinds of cultural flows transcend borders. *

A

TRUE

74
Q

TRUE OR FALSE

Bretton Woods was an explicitly United States-centered system. *

A

TRUE

75
Q

TRUE OR FALSE
Regionalization enhances interdependence, which in turn makes weaker partners more vulnerable to the demands of the stronger partner. *

A

TRUE

76
Q

TRUE OR FALSE

The urbanization of poverty is expected to increase *

A

TRUE

77
Q

TRUE OR FALSE

. The United Nations is the only universal governance system. *

A

FALSE

78
Q

TRUE OR FALSE

The United States never became a member of the League of Nations *

A

TRUE

79
Q

TRUE OR FALSE

The victims of terrorism are not the primary target of the violence. *

A

TRUE

80
Q

TRUE OR FALSE

Peru has accepted the NAFTA model of regionalization. *

A

TRUE

81
Q

A migrant is: *

A

C. Moves to a new country in search of better economic opportunities

82
Q

feel that international exchange is shaped by exploitation of labour and resources; economic interests drive political policies. *

A

A. Socialists

83
Q

In the world system, extraction regions are called the: *

A

A. Periphery

84
Q

In Marxist terminology, workers who must sell their labour power in order to survive are referred to as : *

A

D. The Proletariat

85
Q

The newly independent state of El Salvador was oriented toward the primary export of *

A

A. Coffee

86
Q

. In the world-system, the regions which mostly manufacture goods are referred to as the: *

A

C. Core

87
Q

The class of people in Marxist analysis who usually see the world from the perspective of the rich, but sometimes advocate for the poor is the : *

A

D. Intellectuals

88
Q

. Which international organization has helped women in the global South obtain loans on favourable terms to start up businesses? *

A

D. UNICEF

89
Q

The _____ consists of European Community member state leaders and meets twice a year, whereas the _____ adjudicates disputes that arise under EU law. *

A

D. European Council, Court of Justice

90
Q

. A unified set of tariffs with regard to imports occurs: *

A

A. A Customs Union

91
Q

Which country is a member of the Andean Common Market? *

A

D. Peru

92
Q

. The institution which implements the policies of the EU is the: *

A

A. European Commission

93
Q

The institution which makes the major policy decisions of the EU is the: *

A

B. Council of Ministers

94
Q

The Single European Act called for the creation of a common market in Europe by the end of *

A

C. 1992

95
Q

The European Free Trade Association: *

A

C. Includes EU members and four non-EU members

96
Q

The integration of similar facts and ideas on an international basis that is being facilitated by the telecommunications revolution is leading to the phenomenon of a: *

A

A. Global culture

97
Q

. It is the process of political integration following economic integration for practical purposes. *

A

B. Spillover

98
Q

The all-news satellite TV network, Al Jazeera, is based in which Middle Eastern state? *

A

A. Qatar

99
Q

Which of the following is not a member of the G-7 states? *

A

D. The Netherlands

100
Q

. The state in which an MNC has its headquarters is called the: *

A

A. Home country

101
Q

The Exchange Rate Mechanism is: *

A

C. An attempt by the European Union to approximate fixed exchange rates

102
Q

Between World War II and the 1970s, what type of exchange rates existed in the international economic system? *

A

A. Fixed

103
Q

________policy is government decisions about spending and taxation. *

A

C. Fiscal

104
Q

. Currency speculators sold off the currency of ______ and other countries that created the 1997 Asian financial crisis. *

A

A. Indonesia

105
Q

. A ______ is responsible for maintaining the value of a state’s currency to the extent that it can by limiting the amount of money printed and avoiding inflation. *

A

C. Central bank

106
Q

What type of currency can be readily converted to leading world currencies? *

A

B. Hard currency

107
Q

What institution coordinates international currency exchange, the balance of international payments, and serves as a lender of last resort? *

A

C. International Monetary Fund

108
Q

When governments spend more than they take in to stimulate economic growth, it is called: *

A

A. Deficit spending

109
Q

A unilateral move to reduce the value of one’s own currency by changing a fixed or official exchange rate is known as: *

A

C. Devaluation

110
Q

. Which country is a member of the Group of 20 (G-20)? *

A

A. South Africa

111
Q

TRUE OR FALSE

Global income inequality is decreasing between rich and poor countries *

A

B. FALSE

112
Q

TRUE OR FALSE

World Bank definitions of poverty initially valued social well-being over material standards. *

A

B. FALSE

113
Q

TRUE OR FALSE

A “New World Social Contract” is currently being implement by the IMF and World Bank. *

A

B. FALSE

114
Q

TRUE OR FALSE

Regions are considered open when the member countries are democracies *

A

B. FALSE

115
Q

TRUE OR FALSE

EPAs are Environmental Protection Agencies of the NAFTA countries *

A

B. FALSE

116
Q

TRUE OR FALSE

Globalization has often been accompanied by decreased levels of debt, poverty, and exclusion. *

A

B. FALSE

117
Q

TRUE OR FALSE

International organizations are exclusively for states. *

A

B. FALSE

118
Q

TRUE OR FALSE

. Greenpeace is an intergovernmental organization *

A

B. FALSE

119
Q

TRUE OR FALSE

The North American Free Trade Agreement is an example of a regional organization. *

A

B. FALSE

120
Q

Economic liberalism claims the key actors in the economy are: *

A

C. Individual households and firms

121
Q

All of the following except one represents an increasing integration in globalization: *

A

D. Morals

122
Q

Globalization could not exist without *

A

B. A common religion

123
Q

The growth in global communication has: *

A

B. Meant people now rely on different sources for the news

124
Q

. Economic interchange and interdependence is *

A

B. A phenomenon that affects individuals in everyday life

125
Q

It is the process of expanding globalism and refers to the increasing integration of economics, communications and culture across national bounderies. *

A

B. Globalization

126
Q

Advances in what have rapidly expanded the speed with which merchandise, money, people, information and ideas move over long distances? *

A

B. Technology

127
Q

The Bretton Woods Institutions include: *

A

B. The World Bank

128
Q

All of the following are examples of the benefits of globalization EXCEPT *

A

C. Globalization is the latest stage of Western Imperialism

129
Q

Resistance to the adoption of a common culture is : *

A

B. Widespread.

130
Q

Transnationalism results from all of the following except *

A

C. increased state sovereignty

131
Q

. Which of the following concepts is used to describe individuals who adopt a political identification that does not focus on the nation-state? *

A

C.Transnationalism

132
Q

Organizations that operate across national boundaries and whose membership is composed of individuals is known as : *

A

B. NGO

133
Q

Which of the following perspectives of globalization is most likely to reflect the views of economists? *

A

C. The growth of international trade and the increase in international trade flows

134
Q

Used to describe the increasing geographical relocation of production processes on a global scale by multinationals *

A

C. Deep integration

135
Q

., Which of the following admit that there is considerable uncertainty as to what the outcomes of globalization might be in recognizing that globalization is a powerful force. *

A

C. Transformationalists

136
Q

They see globalization as inevitably resulting in global capitalism, global governance and global civilization *

A

D. Hyperglobalists

137
Q

Identify of what is being defined. Answers should be in CAPITALIZED LETTERS: 21. A process in which consumers, organizations, and governments are increasingly interconnected across national borders *

A

GLOBALIZATION

138
Q

Responsible for ‘policing’ and negotiating the world trading system *

A

WORLD TRADE ORGANIZATION

139
Q

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

A

TRADE LIBERALIZATION

140
Q

A change to private ownership of state-owned companies and industries *

A

PRIVATIZATION

141
Q

An investment made by a firm or individual in one country into business interests located in another country *

A

FOREIGN DIRECT INVESTMENT

142
Q

The process of greater interdependence among countries and their citizens political, technological, and cultural, as well as economic *

A

GLOBALIZATION

143
Q

The process of greater interdependence among countries and their citizens (political, technological, economically, culturally) *

A

GLOBALIZATION

144
Q

The ability to produce a good at a lower opportunity cost than another producer. *

A

COMPARATIVE ADVANTAGE

145
Q

The ability of country to produce a given product more efficiently than another country. *

A

ABSOLUTE ADVANTAGE

146
Q

TRUE/FALSE : 41. Globalization refers to the shift toward a more integrated and interdependent world economy *

A

TRUE

147
Q

TRUE/FALSE :

. Tastes and preferences of consumers in different nations are beginning to converge on some global norm. *

A

TRUE

148
Q

TRUE/FALSE :

A company has to be a major multinational corporation to facilitate, and benefit from, the globalization of markets. *

A

FALSE

149
Q

TRUE/FALSE :
Currently, the most global of markets are for industrial goods and materials that serve a universal need the world over *

A

TRUE

150
Q

TRUE/FALSE :

As firms follow each other around the world, greater diversity replaces uniformity *

A

FALSE

151
Q

TRUE/FALSE :
Substantial impediments such as barriers to foreign direct investment make it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe. *

A

TRUE

152
Q

TRUE/FALSE :

7. As of 2008, 149 nations, which collectively accounted for 90 percent of world trade, were WTO members *

A

FALSE

153
Q

TRUE/FALSE :

The United Nations and the World Bank were both created in 1944 by 44 nations that met at Breton Woods, New Hampshire. *

A

FALSE

154
Q

TRUE/FALSE :
After World War I, the advanced nations of the West committed themselves to removing barriers to the free flow of goods, services, and capital between nations *

A

FALSE

155
Q

TRUE/FALSE :

The media has had an insignificant role in promoting a common culture. *

A

FALSE

THE CONTEMPORARY WORLD (1 decks)

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