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1. What does economic globalization refer to?

A. Encouraging domestic production
B. Increasing interdependence of world economies
C. Systematic government intervention in foreign trade
D. The expansion and intensification of social relations
E. Global production and distribution of goods and services
2. Which dimension is NOT involved in globalization?
A. Environment
B. Technology
C. Ideology
D. Culture
E. Sports
3. What is protectionism in the context of globalization?
A. Systematic government intervention in foreign trade with the objective of encouraging domestic
production
B. Giving preferential treatment to domestic producers
C. Wide and rapid spread of technologies
D. Increasing interdependence of world economies
E. Global production and distribution of goods and services
4. Which of the following is a characteristic of economic globalization?
A. Differential treatment of foreign competitors
B. Government intervention in foreign trade
C. Free trade
D. Protectionism
E. Tariffs
5. is trade liberalization in the context of globalization?
A. The expansion and intensification of social relations
B. Systematic government intervention in foreign trade
C. Refers to the increasing interdependence of world economies as a result of growing scale of
cross-border trade
D. Encouraging domestic production
E. Global production and distribution of goods and services
6. Which policy involves giving preferential treatment to domestic producers?
A. Free trade
B. Tariffs
C. Trade liberalization
D. Quota
E. Protectionism
7. What do tariffs and quotas represent in the context of globalization?
A. Trade liberalization
B. Free trade
C. Forms of protectionism
D. Government intervention in trade
E. Discrimination against domestic producers
8. is the aim of protectionism?
A. Increasing interdependence of world economies
B. Systematic government intervention in foreign trade
C. Global distribution of goods and services
D. Promoting free trade
E. Encouraging domestic production
9. What contributes to the movement of goods and services around the world?
A. Government intervention in foreign trade
B. Global production and distribution
C. Transportation and communication advancements
D. Protectionism policies
E. Increasing trade barriers
10. What do free trade agreements involve?
A. Discrimination against foreign competitors
B. Countries signing agreements to facilitate trade
C. Imposition of trade barriers
D. Encouraging domestic production
E. Promoting protectionism policies
11. What is one of the objectives of trade liberalization?
A. Encouraging domestic production
B. Global distribution of goods and services
C. Systematic government intervention in foreign trade
D. Protectionism policies
E. Increasing scale of cross-border trade
12. What phrase describes the connection between economies under economic globalization?
A. The expansion and intensification of social relations
B. Extraction, production, distribution, consumption, and disposal of goods and services
C. Free trade agreements
D. Government intervention in foreign trade
E. Increasing interdependence of world economies
13. What is NOT a type of economy under economic globalization?
A. Extraction economy
B. Consumption economy
C. Sporting economy
D. Trade liberalization
E. Protectionism
14. Which dimension is involved in economic globalization?
A. Ideology
B. Culture
C. Technology
D. Environment
E. Politics
15. What contributes to the spread of technologies in economic globalization?
A. Encouraging domestic production
B. Free trade
C. Government intervention in foreign trade
D. Wide and rapid spread of technologies
E. Protectionism
16. What are the two main forms of protectionism?
A. Global production and distribution
B. Free trade and discrimination
C. Tariffs and quotas
D. Trade liberalization and government intervention
E. Domestic production and foreign competition
17. In what year Bretton Wood System was established?
A. 1984
B. 1934
C. 1944
D. 1994
18. Bretton Wood System created _________
A. World Bank and OPEC
B. IMF and NAM
C. WTO and World Bank
D. World Bank and IMF
19. The international currency resulted from the BRETTON WOOD Conference.
A. Peso
B. Yuan
C. US Dollar
D. Yen
20. Which country has the highest share in the World Bank and International Monetary Fund?
A. Great Britain
B. USA
C. China
D. Philippines
21. What year Bretton Wood System Collapse?
A. 1980
B. 1960
C. 1970
D. 1940
22. Refers to financial assistance that have been established by more than one country
A. OPEC
B. IFI
C. NATO
D. Treaty of Paris
 23. The War that happens between America the Soviet Union.
A. World War 2
B. World War 1
C. Hot War
D. Cold War
24. The Soviet Union is also known for?
A. Democratic
B. Communist
C. Republican
D. Monarchy
25. What represents the Cold War between America and Soviet Union?
A. A tank to tank Battle which results to casualties
B. A gun to gun battle that results numerous death
C. A race of which to land on the moon first
D. Agreements where America joins communism
26. Refers to the purchase of products and service from other countries.
A. Export
B. Import
C. Transition
D. Translation
27.

2. If GDP increases, what implications will this have on business operations?

Increased GDP has no impact on business operations.

If GDP increases, it may lead to increased demand for goods and services, more business opportunities,
and increased investment in the economy.

If GDP increases, it will lead to decreased demand for goods and services

If GDP increases, it will result in reduced business opportunities

3. What steps can governments take to ensure sustained GDP growth?

Increasing taxes and regulations, decreasing government spending, and banning foreign trade

Investing in infrastructure and education, encouraging entrepreneurship, and providing economic

incentives for businesses

Reducing investment in infrastructure, discouraging entrepreneurship, and implementing strict

regulations on businesses

Focusing solely on government debt reduction and neglecting other areas of the economy

4. Develop a plan for a country to maximize its GDP growth.

Focusing only on reducing government debt and increasing taxes

Discouraging entrepreneurship and increasing barriers for businesses

Investing in infrastructure, encouraging entrepreneurship, providing economic incentives for businesses,

reducing government debt, and improving education and training opportunities

Ignoring infrastructure development and focusing on reducing regulations alone

5. How does economic growth impact wealth distribution among countries?

Countries with higher GDPs tend to have higher levels of wealth

Wealth distribution is unrelated to GDP growth

Economic growth has no impact on wealth distribution

Countries with lower GDPs tend to have higher levels of wealth