#1
Which of the following is an example of a global economic institution?
World Health Organization (WHO)
International Monetary Fund (IMF)
United Nations Educational, Scientific and Cultural Organization (UNESCO)
Red Cross
#2
Which country is considered the world's largest economy by nominal GDP?
China
Japan
United States
Germany
#3
What is the term used to describe a situation where a country's imports exceed its exports?
Trade deficit
Trade surplus
Balance of payments
Current account balance
#4
What is the term used to describe 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)
National Income (NI)
#5
What is the term used to describe the process of outsourcing business activities to other countries with lower labor costs?
Offshoring
Onshoring
Nearshoring
Outplacement
#6
What is the term used to describe a situation where a country exports more goods and services than it imports?
Trade deficit
Trade surplus
Balance of payments
Current account surplus
#7
What is the primary function of the World Trade Organization (WTO)?
Regulating global financial markets
Promoting free trade by setting rules and resolving disputes
Providing humanitarian aid in times of crisis
Developing international labor standards
#8
Which agreement aims to facilitate international trade by reducing tariffs and other barriers?
Paris Agreement
Trans-Pacific Partnership (TPP)
Kyoto Protocol
Geneva Conventions
#9
What is the primary goal of foreign direct investment (FDI)?
Maximizing profits for domestic companies
Promoting economic growth and development in foreign countries
Limiting competition in the global market
Protecting domestic industries from international competition
#10
Which international economic organization provides financial assistance and technical expertise to developing countries?
World Bank
World Trade Organization (WTO)
European Central Bank (ECB)
Bank for International Settlements (BIS)
#11
What is the primary purpose of the International Monetary Fund (IMF)?
Facilitating international trade agreements
Providing financial assistance and stabilization to member countries
Promoting global environmental sustainability
Regulating global currency exchange rates
#12
Which of the following is an example of a regional economic integration agreement?
North American Free Trade Agreement (NAFTA)
World Trade Organization (WTO)
United Nations (UN)
International Monetary Fund (IMF)
#13
Which of the following is NOT a characteristic of globalization?
Increased interconnectedness of economies
Reduced barriers to international trade and investment
Homogenization of cultures
Isolationism and protectionism
#14
Who is often referred to as the 'Father of Economics'?
John Maynard Keynes
Adam Smith
Karl Marx
Milton Friedman
#15
Which economic theory advocates for minimal government intervention in the economy?
Keynesian economics
Monetarism
Neoclassical economics
Austrian economics
#16
Which economic theory emphasizes the importance of government intervention to correct market failures and promote economic stability?
Monetarism
Austrian economics
Keynesian economics
Supply-side economics
#17
Which economic theory advocates for the redistribution of wealth to address social inequalities?
Monetarism
Supply-side economics
Socialism
Austrian economics
#18
Which international economic institution is responsible for issuing Special Drawing Rights (SDRs) as a supplementary reserve asset?
International Monetary Fund (IMF)
World Bank
Bank for International Settlements (BIS)
Asian Development Bank (ADB)