Contemporary Long Test

When was the World Trade Organization (WTO) established?

• 1945

• 1975

• 1995

• 2005

Which trade agreement aimed to create a free trade zone in North America?

• GATT

• NAFTA

• ASEAN

• EU

What term is commonly used to describe corporations that operate across national borders and take advantage of opportunities in different countries for manufacturing, distribution, and sales?

• Local Corporations

• National Corporations

• Multinational Corporations (MNCs)

• Domestic Corporations

What are the two main measurements used to categorize countries based on their economic productivity?

• Gross National Product (GNP) and Gross Domestic Income (GDI)

• Gross Domestic Product (GDP) and Gross National Income (GNI)

• Gross Revenue Index (GRI) and National Output Quotient (NOQ)

Which regions are typically classified as the "Global North" and the "Global South" in the context of global stratification?

• North America and South America

• Western Europe and Eastern Europe

• United States and Latin America

What Nobel Prize-winning concept involved providing small loans to low-income individuals in rural areas, as mentioned in the text?

• Mega-Credit Strategy

• Microfinance Initiative

• Microcredit

What is one of the main arguments presented by those who support economic globalization in terms of its impact on workers in developing economies?

• Decreased competition for labor and lower wages

• Increased competition for labor and higher wages

• Stagnant job opportunities and minimal wage growth

What are some of the implications of the terms "First World" and "Third World" in the context of global stratification?

• Outdated and inaccurate ways of categorizing countries based on economic development

• Precise and effective descriptors of global economic disparities

• Culturally sensitive terms reflecting diverse global perspectives

Which of the following is a primary motivation for multinational corporations (MNCs) or transnational corporations (TNCs) to operate across national borders?

• Political influence

• Cultural homogenization

• Tax breaks and cheap

What are some of the positive effects of globalization?

• Autonomy and self-interested agendas of corporations

• Increased employment globally

• Cultural homogenization