The globalization of world economy

Question 1

Historical process representing the result of human innovation and technological progress. It is characterized by the increasing integration of economies around the world.

Answer 1

International Monetary Fund (IMF)

Question 2

It aims to reduce poverty by lending money to the government of its poorer members so that they can improve their economies and the standard of living of their people.

Answer 2

World bank

Question 3

Oldest known international route. It had the network of routes that connected different parts of the ancient world from china to what is the middle east today and to europe

Answer 3

silk road

Question 4

Galleon trade took place during the age of -

Answer 4

mercantilism

Question 5

In the 1920s and 1930s, a global economic crisis occurred called -

Answer 5

The great depression

Question 6

This economic depression was considered the worst and longest experienced by the west

Answer 6

the great depression

Question 7

Who: an economic historian, the united states began to recover when it abandoned the gold standard.

Answer 7

Barry Eichengreen

Question 8

This was inaugurated with the goal of preventing past catastrophes from happening again and impacting international connections

Answer 8

bretton woods.

Question 9

This active participation of government in managing economic crises became the foundation for the what would be called -

Answer 9

global keynesianism

Question 10

Delegates at Bretton woods agreed to create two financial institutions which are:

Answer 10

1. International Bank of Reconstruction and development / World Bank and International Monetary Fund

Question 11

Became the codified strategy of the US Treasury Dep., world bank, IMF, and WTO

Answer 11

neoliberalism

Question 12

The central tenet of globalization

Answer 12

International Economic Integration