Economy and Transformation

Fill in the blank: Globalisation often leads to the _______ of local industries.

• Growth

• Decline

• Isolation

• Ignorance

What is globalization?

• A) A local trade practice

• B) A process of international integration

• C) A type of economic theory

• D) A protectionist policy.

Fill in the blank: ________ is the strategy of entering foreign markets to increase sales.

• Internationalization

• Globalization

• Transnationalization

• Multinationalization

The term 'global' is associated with which of the following meanings?

• Local

• Worldwide

• National

• Regional

Who is considered one of the fathers of protectionism and emphasized that tariffs and governmental support were essential to foster domestic industries?

• Friedrich List

• Alexander Hamilton

• Donald Trump

• Thomas Jefferson

True or False: Alexander Hamilton was against the use of tariffs to support domestic industries.

• True

• False

Which of the following best describes the economic philosophy of Alexander Hamilton?

• Laissez-faire

• Protectionism

• Communism

• Socialism

Friedrich List's protectionist measures were aimed at enabling what in the long term?

• Isolationism

• Free trade

• Communism

• Capitalism

In 2009, what percentage of tariffs was introduced on tires from China to protect the US tire industry?

• 25%

• 35%

• 45%

• 55%

What is the Baltic dry Index ?

• The Baltic Dry Index is a shipping index that measures the cost of transporting dry bulk goods.
• The Baltic Dry Index is a gauge of passenger shipping rates.
• The Baltic Dry Index tracks the stock market performance.
• The Baltic Dry Index is a measure of oil prices.