Foundations of Economic Globalization

What was the primary goal behind the creation of the International Monetary Fund and The World Bank?

• To allow the victorious nations of World War II to supervise growth and development in war torn nations.

• To reconstruct and stabilize the global economic network in the aftermath of World War II.

• To set a basis for the United States' financial and political domination of the world.

• To function as a non-government faction of the United Nations and unify the world's finances.

Tariffs can be an advantage to nations who wish to

•  increase domestic tourism

• increase trade with other nations

• cease all trade with other countries

• protect their industries from foreign influence

The conflict between Keynes & Hayek would be about

• the causes of war

• the role of the IMF

• the economic role of government

• tariffs and trade

Two very important world organizations were mapped out at the Bretton Woods Conference.  These were:

• the World Bank and the IMF

• the World Bank and the WTO

• the IMF and the WTO

• the IMF and the United Nations

The economic policies of Hayek and Friedman can best be characterized as:

• Less trade with other nations.

• Adoption of the principle of 'convertibility' where paper currencies could be redeemed as gold to stabilize the exchange rates.

• Based on less government intervention and control of the economy.

• Creation of an economic system where the government creates an economic plan and also controls the majority of the resources and capital.

The definition in the image is that of:

• Sustainable prosperity.

• Trade liberalization.

•  Stewardship.

• Anthropocentric environmentalism.

The ever increasing and developing interdependence of trade and economic activities between nations is best identified as economic

• modern colonization

• postmodern constructivism

• contemporary imperialism

• contemporary globalization

The primary goal of the Bretton Woods Conference was to:

• seek solutions to economic problems that lead to war

•  ensure that no single country controlled the world’s oceans

• protect smaller countries from invasion by larger countries

• suppress people who wanted to choose their own government

The situation described is a result of the

• WWI

• Great Depression

• Russian Revolution

• WWII

The Bretton Woods Conference brought long-lasting global economic stability & prosperity.

• True

• False