#1
Which of the following is a characteristic of economic globalization?
Decrease in international trade
Limited flow of capital across borders
Increased interconnectedness of economies
Promotion of isolationism
#2
What is the primary goal of economic development?
To increase income inequality
To decrease access to education
To improve the standard of living
To promote unemployment
#3
What is the term for the total value of goods and services produced within a country's borders in a specific time period?
Gross Domestic Product (GDP)
Gross National Product (GNP)
Net Domestic Product (NDP)
Net National Product (NNP)
#4
Which of the following is NOT a characteristic of economic development?
Increase in per capita income
Improvement in infrastructure
Rise in unemployment rate
Expansion of healthcare services
#5
Which of the following is a measure of income inequality within a population?
Gini coefficient
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Inflation rate
#6
Which international organization is primarily responsible for regulating global trade?
International Monetary Fund (IMF)
World Bank
World Trade Organization (WTO)
United Nations (UN)
#7
What is the term used to describe the process of integrating national economies into the international economy?
Capital control
Fiscal policy
Monetary policy
Globalization
#8
Which economic theory emphasizes the role of government intervention in controlling market forces?
Capitalism
Socialism
Laissez-faire economics
Free market economy
#9
What is the term for the removal or reduction of restrictions or barriers on the free exchange of goods between nations?
Protectionism
Trade liberalization
Tariffs
Embargo
#10
Which of the following is NOT a factor that contributes to economic globalization?
Advancements in technology
Reduction in trade barriers
Increase in protectionist policies
Expansion of multinational corporations
#11
Which factor is often considered a drawback of economic globalization?
Increased competition leading to innovation
Improved access to international markets
Loss of cultural diversity
Enhanced economic stability
#12
Which of the following is an example of a supranational organization that promotes economic cooperation and integration among European countries?
ASEAN (Association of Southeast Asian Nations)
NAFTA (North American Free Trade Agreement)
EU (European Union)
OPEC (Organization of the Petroleum Exporting Countries)
#13
Which of the following is an example of a trade barrier?
Tariff
Foreign direct investment
Trade deficit
Exchange rate
#14
Which of the following is an example of a non-tariff trade barrier?
Quota
Excise duty
VAT (Value-Added Tax)
Income tax
#15
What is the term for the process of shifting from an agrarian-based economy to one dominated by industrial manufacturing?
Deindustrialization
Agrarian revolution
Industrialization
Urbanization