THE CONTEMPORARY WORLD REVIEWER

Question 1

Refers to the processes by which more people
across large distance become connected in more
different ways.

Answer 1

GLOBALIZATION

Question 2

What is the process through which
the constraints of physical space lose their hold on social relations?

Answer 2

Deterritorialization

Question 3

It is an interaction of people and primarily an
economic process of integration which has social
and cultural aspects as well.

Answer 3

GLOBALIZATION

Question 4

process by which capitalism expands across the
globe as powerful economic actors seek profit in
global markets and impose their rules everywhere

Answer 4

GLOBALIZATION

Question 5

Also known as Neoliberalism

Answer 5

GLOBALIZATION

Question 6

new opportunity to spread the faith and
convert lost souls abroad

Answer 6

Korean Pentecostal missionary

Question 7

growing new roots while staying deeply involved
in the home village

Answer 7

Dominican immigration in the U. S

Question 8

what theory of globalization that is a perspective that globalization is essentially the expansion of the capitalist system around the globe

Answer 8

World-System Theory

Question 9

This theory of Globalization is where a state remains an important component of world society, but primarily attention goes to the global cultural and organization

Answer 9

World Polity Theory

Question 10

This theory of Globalization states that the world culture is indeed new and important, but less homogeneous than world polity.

Answer 10

World Culture Theory

Question 11

Since when does Globalization has been happening for a long time?

Answer 11

16th Century

Question 12

when is the period of intense globalization, when million migrated, trade generally expanded and new norms and organization came
to govern international conduct?

Answer 12

Late 19th century

Question 13

when did the movement of people, goods and finance across national borders was at least as free and significant as it is today?

Answer 13

20th century

Question 14

Period when globalization is significant in its own right

Answer 14

2nd half of 20th century

Question 15

what gave globalization a new impetus?

Answer 15

Word War II

Question 16

It is the process of offering a product or service to a wider section of an existing market or into a new demographic, psychographic or geographic market

Answer 16

Expanding Market

Question 17

What is the economic system operating
along capitalist lines now encompasses most region of the world, and economic motivates always have been important in creating global linkages, globalization takes place in many sphere for many reasons?

Answer 17

Expanding Market

Question 18

It is when certain activities or institutions become
global, they must displace existing local
variable activities and institution

Answer 18

HOMOGENEOUS WORLD

Question 19

What differences have themselves become globally valid

Answer 19

Cultural and Political Differences

Question 20

It is an idea that reflects the concepts of globalization

Answer 20

Market Globalization

Question 21

This seeks to endow globalization with free market norms and neoliberal meanings

Answer 21

Market Globalization

Question 22

TRUE OR FALSE
Globalization is about the liberalization and global integration of
markets

Answer 22

TRUE

Question 23

the more you let market forces rule and the more you open your economy to _______ and ________, the more ______ your economy will be

Answer 23

free trade and competition, efficient

Question 24

This means the spread of free-market capitalism to virtually every country in the world

Answer 24

GLOBALIZATION

Question 25

They are not in charge in the sense of imposing their own political agenda on people. rather, they merely carry out the unalterable imperatives of a transcendental force much larger than narrow partisan interest

Answer 25

Globalist

Question 26

These frequently place existing economic, political, and social realities within a neo-liberal framework; sustaining the claim that globalization benefits everyone through omnipresent affirmative images, websites, banner advertisements, and sound bites

Answer 26

Television, radio and internet

Question 27

It is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do. It is one of the guiding principles of capitalism and a free market economy

Answer 27

Laissez faire

Question 28

a theory of political economic practices that proposes that human well-being can best be advance by liberating individual entrepreneurial freedoms and skills within an institutional framework characterized by a strong private property rights, free markets and free trade

Answer 28

Neoliberalism

Question 29

It is the process of transferring an enterprise or
industry from the public sector to the private
sector.

Answer 29

Privitization

Question 30

It is the process of transferring an enterprise or
industry from the public sector to the private
sector.

Answer 30

Privatization

Question 31

It is the increasing integration of economies
around the world particularly through the movement of goods, services and capital across borders

Answer 31

Economic Globalization

Question 32

It is the movement of people and knowledge
across international borders

Answer 32

Economic Globalization

Question 33

The best-known example of archaic
globalization, which connected Asia, Africa and
Europe.

Answer 33

Silk Road

Question 34

The most central area in international economy

Answer 34

The International Monetary System

Question 35

This indicates that the value of a country’s net foreign assets grew over the period in question, and a current account deficit indicates that it shrank.

Answer 35

Current account surplus

Question 36

This is part of a country’s balance of payments. It measures financial transactions that don’t currently affect a country’s income, production, or savings.

Answer 36

Capital accounts

Question 37

The difference in total value between payments into and out of a country over a period. These transactions consist of imports and exports of goods, services and capital, as well as transfer payments such as foreign aid and remittances.

Answer 37

Balance of payments

Question 38

It is equal to gross domestic product less gross
domestic income. These two measures are, in
principle, the same. The difference reflects less than perfect source data. is the difference between demand and supply in national accounts.

Answer 38

Statistical discrepancy

Question 39

This is the proportion of customers’ deposits a bank is required by the Fed to hold in reserve without loaning out required reserve ratio is sometimes used as a tool in monetary policy, influencing the country’s borrowing and interest rates by changing the amount of funds available for banks to make loans with.

Answer 39

Change in Reserve Requirements

Question 40

This is an institution that manages a state’s currency, money supply, and interest rates

Answer 40

Central Bank

Question 41

What are the Four Monetary Regime

Answer 41

Classical gold standard (1870 – 1914)
Gold exchange standard
Bretton Woods system (1944-1973)
Non-system of floating and fixed exchange rate –1973 to present

Question 42

Effects of Economic Globalization on Developing Countries

Answer 42

Increased Standard of Living
Access to New Markets
Decreased Employment

Question 43

States effectively act and interact with one another on the global or world system

Answer 43

Interstate system

Question 44

A system of centralized rule that succeeded
in subordinating all other institutions and groups,
temporal and spiritual (Heywood 2011).

Answer 44

State

Question 45

Interaction and behavior that occur across boundaries of states

Answer 45

International Relations

Question 46

supreme power or authority

Answer 46

Sovereignty

Question 47

state’s authority within

Answer 47

Internal Sovereignty

Question 48

relationship of states to other states and international actors as it establishes state’s capacity to act as an independent and autonomous entity in world affairs

Answer 48

External Sovereignty