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1. 1.According to the UN, economic globalization refers to the increasing interdependence of world economies due to:

A) D. Exploitation of periphery countries
B) B. Growing cross-border trade, flow of capital, and spread of technology
C) C. Protectionism and quotas
D) B. Growing cross-border trade, flow of capital, and spread of technology
E) A. Government intervention only

2. 2. Which of the following is NOT a KeyActor in the Global Economy?

A) A. Nation-states
B) B. Global corporations
C) D. Local sari-sari stores
D) D. Local sari-sari stores
E) C. International financial institutions

3. 3. The Modern World System Theory was developed by:

A) D. JohnKeynes
B) C. Karl Marx
C) A.Adam Smith
D) B. Immanuel Wallerstein
E) B. Immanuel Wallerstein

4. 4. Protectionism uses which tools to limit foreign trade?

A) B. Quotas and Tariffs
B) C. Technology and Communication
C) D. International Capital
D) B. Quotas and Tariffs
E) A. Free Trade Agreements

5. 5. Which country type "exploits periphery for labor and raw materials"?

A) A. Periphery Countries
B) D. Developing Countries
C) A. Periphery Countries
D) C. Core Countries
E) B. Semi-periphery Countries

6. 6. International Trade is the process of goods and services crossing national boundaries
in exchange for:

A) B. Money or goods
B) C. Political support
C) A. Technology only
D) B. Money or goods
E) D. Cultural exchange

7. 7. Which is one of the 5 cons of globalization?
A. Encourages free trade
B. Diseases spread faster

A) C. Develops poor areas
B) B. Diseases spread faster
C) A. Encourages free trade
D) C. Develops poor areas
E) B. Diseases spread faster

8. 8. Which reason for globalization is shown when you attend a Zoom meeting with
someone in Japan instantly?

A) A. To reduce costs
B) D. Domestic markets are not enough
C) C. To get technological know-how
D) B. Rapid shrinking of time and distance
E) B. Rapid shrinking of time and distance

9. 9. Semi-periphery countries are described as the "middle class" of the world economy
that:

A) B. Stabilize the system by connecting core and periphery
B) C. Have weak central governments
C) D. Focus on high-skill production
D) A. Export raw materials
E) B. Stabilize the system by connecting core and periphery

10. 10. One pro of globalization is that it:

A) B. Encourages free trade and lower prices
B) C. Transfers jobs to lower-cost areas
C) A. Widens the gap between rich and poor
D) B. Encourages free trade and lower prices
E) D. Increases pollution

11. 11. Why do companies move production to countries like Bangladesh?

A) B. To pay workers less and reduce cost
B) C. To get technological know-how
C) B. To pay workers less and reduce cost
D) D. To find political stability
E) A. To be close to raw materials

12. 12. "Big multinational companies dominate while small sari-sari stores struggle" is an
example of which con?

A) C. Widens the gap between rich and poor
B) A. Negative impact on environment
C) D. Diseases spread faster
D) B. Gives more influence to the biggest and richest
E) C. Widens the gap between rich and poor

13. 13. Why did BPO companies set up in the Philippines?

A) B. For political and economic stability, skilled workers, and lower costs
B) D. To encourage protectionism
C) A. To reduce transportation costs
D) B. For political and economic stability, skilled workers, and lower costs
E) C. To be close to raw materials

14. 14. Factories in Cavite and Cebu providing jobs from foreign companies show how
globalization:

A) B. Develops poor areas of the world
B) D. Causes environmental damage
C) C. Transfers jobs abroad
D) B. Develops poor areas of the world
E) A. Widens inequality

15. 15. Using email and Google Drive instead of sending documents by sea relates to
globalization's goal to:

A) B. Reduce transportation and communication costs
B) B. Reduce transportation and communication costs
C) D. Expand domestic markets
D) A. Get technological know-how
E) C. Find political stability

16. 16. The goal of Trade Liberalization/Free Trade is:

A) C. Free flow of goods and services
B) B. Discriminate against foreign competitors
C) D. Use quotas and tariffs
D) C. Free flow of goods and services
E) A. Protect domestic production

17. 17. Why has International Trade grown?

A) C. Because of protectionism
B) A. Due to decreasing demand
C) D. Due to fewer technologies
D) B. Increasing demand for goods/services and "globalizing" local products
E) B. Increasing demand for goods/services and "globalizing" local products C. Because of protectionism D. Due to fewer technologies

18. 18. Nike manufacturing in Vietnam/Indonesia and selling in US/Europe is an example
of:

A) A. To get managerial know-how
B) B. To be close to raw materials and markets
C) C. Domestic markets are not enough
D) B. To be close to raw materials and markets
E) D. To reduce environmental impact

19. 19.Acountry exports minerals and imports finished electronics anddepends on foreign investors for factories. This country is most likely:

A) B. Semi-periphery
B) D. Developed
C) A. Core
D) C. PeripheryD
E) C. Periphery

20. 20.If a government increases tariffs to protect local farmers from imported rice, which economic policy is this?

A) D. Free Trade
B) B. Protectionism
C) A. Trade Liberalization
D) B. Protectionism
E) C. Economic Globalization

21. 21.COVID-19 spreading worldwide in months due to travel and trade best illustrates which con of globalization?

A) C. Diseases spread
B) A. Widens gap between rich and poor
C) A. Jobs transferred
D) D. Negative impact on environment
E) C. Diseases spread

22. 22.APhilippine clothing brand cannot grow with only local buyers, so it sells online to the US and Middle East. This shows:

A) A. Trade Liberalization reduce cost
B) B. Domestic markets are no longer enough
C) C. To be close to raw materials
D) D. To get technological know-how
E) B. Domestic markets are no longer enough

23. 23.Big tech companies lobbying to pass laws that hurt smaller businesses demonstrates

A) D. Opens cultural exchange
B) A.Encourages free trade
C) B. Gives more influence to the biggest and richest
D) B. Gives more influence to the biggest and richest
E) C. Develops poor areas

24. 24.Increased shipping and factory production for export leading to ocean pollution and global warming is an example of:

A) D. Pro: Cultural exchange
B) A. Pro: More jobs
C) B. Con: Negative impact on the environment
D) C. Reason: To reduce costs
E) B. Con: Negative impact on the environment

25. 25.Which scenario best shows "Use of excess capacity" as a reason for international trade?

A) B. Expanding market outside national territory because local demand is full
B) D.Adding variety to product line
C) B. Expanding market outside national territory because local demand is full
D) A. Importing cheaper raw materials
E) C. Reducing risk of supply shortage

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