#1
Which of the following is a characteristic of a globalized economy?
Increased isolationism
Reduced international trade
Decreased flow of capital across borders
Increased interconnectedness
#2
What is one potential benefit of globalization?
Decreased cultural exchange
Reduced economic competition
Increased access to goods and services
Greater income inequality
#3
What is the primary goal of a free trade agreement?
To increase tariffs and trade barriers
To restrict the flow of goods and services across borders
To promote trade by reducing tariffs and other barriers
To encourage isolationism
#4
Which term describes the movement of people from rural areas to urban centers?
Urbanization
Gentrification
Suburbanization
Rural flight
#5
What does GDP stand for in economics?
Gross Domestic Product
Gross Distribution Percentage
Government Development Plan
Global Demand Protocol
#6
What is the term used to describe the total value of goods and services produced within a country's borders in a specific period?
Gross National Income (GNI)
Gross Domestic Product (GDP)
Net Exports (NX)
Consumer Price Index (CPI)
#7
Which organization facilitates international cooperation on monetary matters?
World Trade Organization (WTO)
International Monetary Fund (IMF)
United Nations (UN)
World Bank
#8
What is a possible consequence of income inequality in a globalized world?
Decreased social unrest
Increased political stability
Reduced economic growth
Enhanced social mobility
#9
Which factor contributes to the phenomenon of brain drain?
Increased job opportunities in home country
Improved educational infrastructure
Political instability or lack of economic opportunities
Strong government policies
#10
Which international organization focuses on labor rights and standards?
International Labour Organization (ILO)
World Health Organization (WHO)
United Nations Educational, Scientific and Cultural Organization (UNESCO)
Organization for Economic Cooperation and Development (OECD)
#11
What is the main purpose of the World Bank?
Promoting international trade agreements
Providing loans and grants to developing countries for development projects
Regulating global financial markets
Facilitating labor rights and standards
#12
Which of the following is NOT a characteristic of globalization?
Increased interconnectedness
Reduced barriers to trade and investment
Homogenization of cultures
Promotion of isolationism
#13
Which theory suggests that nations should specialize in producing goods and services in which they have a comparative advantage?
Theory of Absolute Advantage
Mercantilism
Comparative Advantage Theory
Dependency Theory
#14
Which economic theory argues that a nation should focus on exporting goods for which it has a comparative advantage and import those for which it has a comparative disadvantage?
Absolute Advantage Theory
Mercantilism
Comparative Advantage Theory
Dependency Theory
#15
Which international organization sets standards for intellectual property protection?
World Intellectual Property Organization (WIPO)
World Trade Organization (WTO)
International Monetary Fund (IMF)
Organization for Economic Cooperation and Development (OECD)