WE_mock_exam_1008

What is the dominant form of production and consumption around the world?

• Communism

• Fordism

• Capitalism

• Laissez-faire

• Mercantilism

Consequences of the Industrial Revolution:

• all of the above

• Creation of an industrial working class

• Urbanization

• Population effects

• Growth of global markets and international trade

When did the United States displace Britain as the world's leading superpower?

• 1970s; after the global oil shocks

• 1870s; with industrial growth following the Civil War

• 1830s; during an economic recession in Europe

• 1780s; immediately after the American Revolution

• 1940s; after World War II

What are the principal instruments of globalization in the last 30 years?

• GDPs

• MNEs

• GNPs

• UGRs

• NGOs

What are TNCs? (These are sometimes referred to as MNEs.)

• multi-national companies, they are often headquartered in the developed world

• fiber-optic cable networks that link developed countries

• transfers of payments from developed countries to lesser developed countries

• stock markets around the world, especially in the wealthier countries

• media networks that spread cultural ideals from one place to another

Which is TRUE?

• FDI causes poverty in the developed and developing world

• Western Europe is no longer in the core of the world economy

• Import substitution leads to faster economic growth than an export-led approach

• The proportion of FDI that core countries are allocating to periphery countries is declining

• TNCs (MNEs) are often headquartered in the developing world

Which is NOT TRUE regarding globalization?

• Rapid communication fosters this phenomena

• It completely destroys unique local diversity

• Some people are unable to fully participate in globalization

• Much of the world has not benefitted from globalization

• The growth of tourism worldwide is a part of it

What is an obstacle that threatens the possibility of future economic growth in the world?

• diminishing energy supplies

• resource limitations

• environmental degradation

• non of these

• all of the above are obstacles

What was the purpose of IMF conditionality, which was often imposed in the developing world since 1980?

• create aid packages for impoverished countries, particularly former colonies

• reduce the disparity of wealth between the developed and developing world

• restore growth, reduce central government involvement in the economy, and expand exports

• reduce starvation in the developing world through agricultural technology

• eliminate regional variations of standards of living in the developing world

Globalization has increased migration because:

• all answers are incorrect

• it has increased the world's population growth rate

• the low cost of living in developing countries has let to a net migration there from the developed world

• it has increased the need for passports

• It has promoted improved global communication and lower cost transportation