#1
Which of the following is a key feature of globalization?
Increased isolationism
Reduced international trade
Greater interconnectedness
Decreased cultural exchange
#2
What is the primary goal of the World Trade Organization (WTO)?
To promote protectionism
To facilitate free trade
To establish currency standards
To regulate immigration policies
#3
What is the purpose of the G20?
To promote global warming initiatives
To coordinate economic policies among major economies
To advocate for human rights worldwide
To regulate global trade
#4
Which term refers to the total value of all goods and services produced by a country in a given period?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Fiscal deficit
Inflation rate
#5
What is the purpose of the World Bank?
To promote international trade agreements
To provide financial assistance for development projects in developing countries
To regulate global stock markets
To oversee global currency exchange rates
#6
Which term describes the situation where a country's imports exceed its exports?
Trade surplus
Trade deficit
Balance of payments
Current account
#7
Which economic theory suggests that countries should specialize in producing goods and services they are most efficient at?
Mercantilism
Keynesian economics
Comparative advantage
Command economy
#8
What is a 'trade deficit'?
When a country exports more than it imports
When a country imports more than it exports
When a country's currency appreciates
When a country's currency depreciates
#9
What is the Bretton Woods system?
An international agreement to stabilize currencies after World War II
A treaty to limit nuclear proliferation
A trade agreement between Europe and Asia
A framework for environmental protection
#10
What is a 'tariff' in international trade?
A tax imposed on exports
A tax imposed on imports
A subsidy given to domestic producers
A restriction on the quantity of goods traded
#11
What is a 'currency exchange rate'?
The ratio of exports to imports
The price at which one currency can be exchanged for another
The total value of a country's currency in circulation
The interest rate set by central banks
#12
Which economic theory suggests that governments should intervene in markets to stabilize employment and economic output?
Monetarism
Neoliberalism
Supply-side economics
Keynesian economics
#13
Which international organization is responsible for coordinating monetary policy among countries?
International Monetary Fund (IMF)
World Bank
Organization of Petroleum Exporting Countries (OPEC)
United Nations (UN)
#14
Which economic concept suggests that as a country's economy grows, the environmental quality initially worsens, but eventually improves?
Stagflation
Environmental Kuznets Curve
Laffer curve
Phillips curve
#15
What is a 'multinational corporation' (MNC)?
A company that operates in multiple industries
A corporation with subsidiaries in multiple countries
A corporation with monopoly power in one country
A company that engages in unfair trade practices
#16
What is 'economic sanctions'?
Penalties imposed on individuals for financial crimes
Measures imposed by one country against another to influence economic or political behavior
Incentives provided to promote economic growth
Policies aimed at reducing income inequality
#17
What is 'protectionism' in the context of international trade?
The belief in free trade and open markets
The imposition of trade barriers to protect domestic industries from foreign competition
The promotion of international cooperation and economic integration
The regulation of currency exchange rates