#1
Which of the following best defines economic globalization?
The integration of national economies through trade, investment, and capital flows.
ExplanationIntegration of economies through trade, investment, and capital flows.
#2
How does economic globalization affect income inequality?
It tends to increase income inequality.
ExplanationIncreases income inequality.
#3
What is a potential drawback of economic globalization on cultural diversity?
Homogenization and loss of cultural identity.
ExplanationLeads to homogenization and loss of cultural identity.
#4
Which economic sector is often most impacted by economic globalization?
Manufacturing
ExplanationManufacturing is often most impacted.
#5
What is a potential environmental consequence of economic globalization?
Deforestation and habitat destruction
ExplanationLeads to deforestation and habitat destruction.
#6
What is the role of multinational corporations in economic globalization?
They facilitate the integration of national economies.
ExplanationMultinational corporations facilitate economic integration.
#7
Which organization plays a significant role in promoting economic globalization?
International Monetary Fund (IMF)
ExplanationIMF plays a significant role.
#8
In the context of economic globalization, what does FDI stand for?
Foreign Direct Investment
ExplanationFDI stands for Foreign Direct Investment.
#9
Which country is often cited as a major beneficiary of economic globalization in the late 20th century?
China
ExplanationChina is often cited as a major beneficiary.
#10
What is the 'race to the bottom' in the context of economic globalization?
A competition for the lowest wages and labor standards
ExplanationCompetition for lowest wages and labor standards.
#11
Which agreement is associated with the promotion of free trade and economic globalization in North America?
North Atlantic Free Trade Agreement (NAFTA)
ExplanationNAFTA is associated with promotion of free trade.
#12
What is the primary goal of the World Trade Organization (WTO) in the context of economic globalization?
To facilitate global trade and reduce trade barriers
ExplanationFacilitates global trade and reduces barriers.