COLLEGE DEPARTMENT

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COLLEGE DEPARTMENT
2nd Semester, AY. 2022-2023
Preliminary Exam
Year & Section : BSCRIM1, BTVTED1 & BTLED1
Course Code & Title : The Contemporary World

Learning Outcomes:
 Differentiate the competing concepts of globalizations and identify the underlying philosophies of the varying definitions of
globalization
 Agree on a working definition for the course
 Identify the actors that facilitate economic globalization and articulate a stance on global economic integration
 Explain the role of international financial institutions in the creation of a global economy and identify the attributes of
globalization of global corporations.
 Explain the effects of globalization on governments and differentiate internationalism from globalism.

Direction: Choose the letter of the correct answer.

d. production, corporations trade, business,
1. This contemporary world is a study of ___________. institutions, technology, markets and finance
a. Conflicts of the present day 6. What would happen to the market when group of
b. Current trends about Globalization practices often move proportionally to each other and
c. Temporary changes around the globe when this relation is very clear among different
d. The politics, social, culture, and economy markets?
worldwide a. Market is separated
2. Who defined “Globalization” as the compression of b. Market is independent
the world and the intensification of the consciousness c. Market is integrated
of the world as a whole? d. Market is isolated
7. Who are the owners or shareholders of IFI?
a. Roland Robertson
a. International Institutions
b. Elizabeth King b. Only two countries
c. Anthony Giddens c. Two or more countries
d. Martin Albrow d. National Government
3. Which of the following is NOT a characteristic of 8. It is responsible for designing laws, rules, or
globalization? regulations intended for a global scale.
a. There is an intensification of interactions a. Economic Globalization
b. Market Integration
b. Spread of ideas, knowledge, technology,
c. Global Governance
culture, religion, etc. d. Global Interstate System
c. There is social mobility of movement of 9. Who directed the documentary film “Inside Job” that
people regardless of reason expose the shocking truth behind the economic crisis
d. An open economy spur fast innovation with of 2008?
fresh ideas from abroad a. Audrey Marrs
4. It refers to the international exchange of goods and b. William Ackman
services that is expressed in monetary units of c. Sigridur Benediktsdottir
d. Charles Ferguson
money.
10. Which of the following best describes the concept of
a. Globalization globalization?
b. Global Economy a. It is a phenomenon where developing
c. Market Integration countries are colonized by Western countries
d. Interstate System to be empowered
5. Which of the following is the CORRECT group that b. It is a phenomenon where different nations
concerns the globalization in global economy? across the globe connect with each other
c. It is a phenomenon where different nations
a. production, trade, markets, organizational
in one continent connect with each other
regimes, finance, institutions, corporations d. It is a phenomenon where Western countries
and technology unite to strengthen their influence
b. production, institutions, finance, markets, 11. Social, political, economic, ecological and ideological
organizational regimes, corporations, labor are examples of:
and technology a. Merits of globalization
c. labor, trade, finance, markets, corporations, b. Reasons for globalization
c. Indicators of globalization
institutions and technology production
d. Dimensions of globalization

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12. What organization has made it possible to stimulate 19. Which among the following are the biggest reason as
increased cross-border trade? to why International Financial Institutions are created?
a. United Nation a. To rebuild the damaged global economy
b. Financial Institution brought by war
c. Global Corporation b. To rebuild the trust of different nations and
d. World Trade Organization countries
13. In the historical foundation of the term "Globalization", c. To build diplomatic relationship and alliances
In what year does the globalization use as an d. To rebuild the alliance and trust of nations
economic sense? 20. Which of the following is correct based on the given
a. 1930 statement below?
b. Late 1970’s Statement A – IMF provides loan intended for
c. Early 1981 investment and development
d. 2013 Statement B – MDB’s provides loan intended to ease
14. In 2013, the term globalization was used to define as? the balance of payments
a. Corporate Giants a. Statement A is correct and statement B is
b. Globalize incorrect
c. Interconnectedness b. Statement B is correct and statement A is
d. Borderless Society incorrect
15. Which of the following does NOT belong to the c. Both statements are correct
group? d. Both statements are incorrect
a. Environmental Globalization 21. Which of the following is correct based on the given
b. Cultural Globalization statement below?
c. Political Globalization Statement A – The IMF and MBD’s reinforced
d. Economic Globalization relationship among nations states
16. Which of the following is NOT true about global Statement B – The IMF and MDB’s weakens
economy? relationship among nations
a. The creation of world trade organizations a. Statement A is correct and statement B is
made countries cut down trade barriers and incorrect
open up their current accounts and capital b. Statement B is correct and statement A is
accounts. incorrect
b. It is expanding since the emerge of trans- c. Both statements are correct
national trade and increased exponentially d. Both statements are incorrect
due to the increase rate of communication 22. Which one of the following is the disadvantage of
and technology. Global Free Trade?
c. It is concerned with globalization of a. Free trade discourage self-sufficiency.
production, finance, markets, technology, b. Free trade policy encourages competition
trades, institutions, corporations and labor. from abroad.
d. It also means as the free movement of c. Free trade procures import at cheap rates.
goods, capital, services, technology and d. Free trade widens the size of the market.
information. 23. What division of labor is the manufacturing base of
17. Which among the following is/are NOT one of the the planet where resources funnel in to become the
possible reasons for a corporation to transfer its technology and wealth enjoyed by the Western World
operation in some countries? today?
a. Transferring to other country may bring raw a. Core
materials nearer than the usual b. Semi-periphery
b. Transferring to other country may lessen c. Periphery
capital inputs and brings more profit d. Core & Semi-periphery
c. Transferring to other country may increase 24. Which theory says to focus not on individual states,
capital, inputs and brings more profit but on the relations between their groupings (core,
d. Transferring to other country may increase semi-periphery, and periphery)?
the number of target consumer a. Interstate System Theory
18. Which among the following is/are possible reason for b. World-System Theory
a corporation to transfer its operation in some c. Contradiction Theory
countries? d. Cyclical Theory
a. Transferring to other country may bring raw 25. Which three of the following best characterize
materials nearer than the usual globalization?
b. Transferring to other country may lessen a. Shrinking space, shrinking time,
capital inputs and brings more profit disappearing borders
c. Transferring to other country may increase b. Increasing space, shrinking time,
capital, inputs and brings more profit disappearing borders
d. Transferring to other country may increase
c. Increasing space, shrinking time,
the number of target consumer
strengthened borders

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d. Shrinking space, strengthened borders, 29. Which of the following is correct based on the
shrinking time following statements?
26. Which of the following is a driver of globalization? Statement A – Market Integration exist when products
a. Competition between countries. are found in different locations in the world
b. Economies of scale are being exploited to Statement B – Market Integration exist when certain
the maximum. products are only available in a certain place in the
world
c. Technological advancements.
a. Statement A is correct and statement B is
d. Trade barriers and controls on inflows of
incorrect
foreign direct investment. b. Statement B is correct and statement A is
27. What does it mean if a nation has an open economy? incorrect
a. Nation allows private ownership of capital. c. Both statements are correct
b. Nation conducts trade with other countries. d. Both statements are incorrect
c. Nation has fixed exchange rates. 30. What best represents the structures of an interstate
d. Nation has flexible exchange rates. system?
28. Which among the following is/are likely a negative a. Compensation on allies
impact of economic globalization among developing b. Comparison within allies
countries? c. Competition between allies
a. Developing countries attracts foreign d. Competing and allying states
investment that results lesser actions taken
against corporations who often violates
environmental laws and regulation
b. Developing countries attracts foreign
investment that results greater actions taken
against corporations who often violates
environmental laws and regulation
c. Developing countries attracts foreign
investment that result greater action taken
against corporations who often violates labor
laws
d. Developing countries attracts foreign
investment that results greater action taken
against corporations who often violates
consumer rights

Prepared by: Checked and approved: Noted:

EDROSE A. WYCOCO RUBELYN M. ESPERON, PHD. RUBELYN M. ESPERON, PHD.

Course Facilitator Program Adviser/OIC Chair of Tertiary Studies

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ANSWER KEY
1. B
2. A
3. D
4. B
5. B
6. C
7. D
8. C
9. D
10. B
11. D
12. D
13. C
14. D
15. A
16. C
17. C
18. B
19. A
20. D
21. A
22. A
23. A
24. B
25. B
26. C
27. B
28. A
29. A
30. D

Afan Salvador St., Saint John District, Guimba, Nueva Ecija (044) 958 2553OLSHCO 75: Because Diamonds are Forever