113_L3 Quiz

What is the primary characteristic of economic globalization?

• Decreased interdependence among countries

• Focus on local markets only

• Isolation of national economies

• Increased integration of economies through trade

The Manila galleon trade is significant because it:

• Connected the American continent to Asian trading routes

• Marked the end of colonialism

• Was the first global trade treaty

• Established the United Nations

According to the Modern World System theory, countries are classified into which categories?

• Developed, undeveloped, and developing

• Core, semi-periphery, and periphery

• Industrialized and non-industrialized

• Rich and poor

The International Monetary Fund (IMF) primarily aims to:

• Promote military cooperation among countries

• Regulate international sports events

• Establish global education standards

• Ensure financial stability and facilitate international trade

Which of the following is NOT a role of the World Trade Organization (WTO)?

• Setting trade rules between nations

• Settling trade disputes

• Providing military support to member nations

• Supporting the needs of developing countries

The European Union (EU) is an example of:

• An economic and political integration

• A military alliance

• A cultural exchange program

• A humanitarian organization

The concept of state sovereignty is challenged by:

• The Treaty of Westphalia

• Globalization and international organizations

• Rise of local governments

• Nationalism

Which of the following best describes the role of multinational corporations (MNCs) in economic globalization?

• They operate solely within their home countries.

• They are primarily focused on local markets.

• They seek to maximize profits through global production networks.

• They have no impact on international trade.

How does globalization affect the economic roles of nation-states?

• It forces them to conform to global market principles.I

• t allows them to act independently of global trends.

• It eliminates the need for trade agreements.

• It isolates them from global markets.

The North American Free Trade Agreement (NAFTA) was replaced by which agreement?

• GATT

• USMCA

• TPP

• EU