Business School 101: G7 and G20

Which countries are part of the G7?

• Canada, France, Germany, Italy, Japan, UK, USA

• China, India, Brazil, Russia, South Africa, Mexico, Argentina

• Australia, South Korea, Indonesia, Saudi Arabia, Turkey, Spain, EU

• Norway, Sweden, Denmark, Finland, Iceland, Netherlands, Belgium

Why was Russia excluded from the G8?

• Because of its low GDP

• For not attending the annual summit

• For its takeover of Crimea

• Due to its economic instability

What was the original purpose of the G7?

• To regulate international financial markets

• To establish a global trade agreement

• To coordinate macroeconomic initiatives

• To create a permanent secretariat

Which organization is invited to participate in the G7 summits?

• The World Bank

• The African Union

• The European Union

• The United Nations

What percentage of the world's GDP is represented by the G20?

• 50%

• 60%

• 80%

• 90%

How is the presidency of the G20 determined?

• By rotation among its members

• By the United Nations

• By the World Bank

• By election among member countries

What was a focus of the G20 under the 2022 Indonesian presidency?

• Global Health architecture

• Cryptocurrency regulation

• Universal healthcare

• Nuclear disarmament

What is a common criticism of the G20?

• It excludes developed countries

• It focuses only on economic issues

• It lacks legitimacy

• It has a permanent secretariat

Which of the following is NOT a member of the G20?

• Spain

• Argentina

• South Africa

• Norway

What is one of the roles of the G20?

• To create binding international laws

• To manage global military conflicts

• To facilitate structural change

• To replace the United Nations