The Contemporary World - Review (TOUR3)

The world economy is primarily driven by

• Cultural exchange

• The global military presence

• International trade and financial flows

• Local market isolation

What do liberalists believe is central to maintaining peaceful global interactions?

• Military dominance

• Nationalism

• Negotiation and cooperation

• State sovereignty

Which theory explains globalization as influenced by power shifts among states?

• Realism

• Liberalism

• Idealism

• Constructivism

Which institution plays a major role in economic globalization by facilitating global trade?

• World Health Organization

• World Trade Organization

• International Court of Justice

• NATO

What is a characteristic of a capitalist economy?

• State ownership of production

• Government controls all pricing

• Pricing is set by the free market

• Equal opportunity for all citizens

What is the definition of globalization according to McGrew (2003)?

• A process of reshaping social networks

• The creation and multiplication of social practices

• A social process that creates, multiplies, stretches, and intensifies worldwide social interdependencies and exchanges

• A local process of interaction between different societies

Global governance aims to address which of the following global challenges?

• Overpopulation

• Individual state military dominance

• Financial instability and transnational terrorism

• Decreasing immigration

Which of the following is a major driver of globalization?

• Nationalism

• Economic Protectionism

• Technological Innovation

• Capitalism

A common market allows for:

• Restricted movement of labor and capital

• Tariff-free movement of goods only

• Free movement of labor and capital

• A shared currency

Economic integration refers to:

• Cultural exchanges between countries

• Agreements that allow the flow of capital, labor, goods, and services across borders

• The isolation of countries from global trade

• Restricting labor migration