1. What are the principal instruments of globalization in the last 30 years?
• GDPs
• GNPs
• NGOs
√ TNCs
• UGRs
2. When did the United States displace Britain as the world's leading superpower?
• 1780s; immediately after the American Revolution
• 1830s; during an economic recession in Europe
• 1870s; with industrial growth following the Civil War
√ 1940s; after World War II
• 1970s; after the global oil shocks
3. In capitalism, what are oligopolists?
• bankers who establish lines of credit
√ major producers who can shape the market price for their goods
• traders who often manipulate the supply of goods in order to maximize profits
• merchants who choose to sell as much as possible at low prices
• forts and supply stations along trade routes
4. Which is NOT TRUE regarding the Silk Road?
• It passed through the Arab World.
• The Chinese established customs posts to minimize smuggling and tax goods.
• Religious ideas also passed along this route.
√ The flow of goods was essentially one-way, from Asia to Europe.
• It lasted for around 2000 years.
5. Consequences of the Industrial Revolution: (bu cavab dəqiq deyil, kitabdan oxumaq istəyənlər
Rəmzinin atdığı kitabdan 55-ci səhifədən oxuyar)
The Industrial Revolution permanently changed the social and spatial fabric of the world, particularly in
the societies that now form the economically developed world. No part of their social systems,
economy, technology, culture, or everyday life was left untouched. Within a century of its inception,
industrialization changed a series of rural, poverty-stricken societies into relatively prosperous,
urbanized, and cosmopolitan ones. Some of the major changes included those described next.
CREATION OF AN INDUSTRIAL WORKING CLASS
URBANIZATION
POPULATION EFFECTS
GROWTH OF GLOBAL MARKETS AND INTERNATIONAL TRADE
6. Vernon's product life-cycle theory seems to provide an accurate explanation of international patterns
during a period of American global dominance, but it has become less effective because:
• the WTO has affected product life cycles in key industries
√ new products have originated in places other than the United States
• capital has replaced labor as the less volatile element of international trade.
• All answers are correct
• Samuelson's critique undermined the key assumptions
7. Porter's theory of national competitive advantage (Nərminin atdığı fayldan)
• Hecksher-Ohlin’s theory of factor endowments
√ Smith’s theory of absolute advantage
• Ricardo’s theory of comparative advantage
√ Smith’s theory of absolute advantage
8. In Wallerstein's capitalist world economy model, what countries make up the periphery of the world
economy?
• all answers are incorrect
• prospering Asian nations such as South Korea
√ low-income countries only
• middle-income nations only
• rich countries only.
9. Major technologies of the second Kondratiev Wave: (Kitab)
Railways, iron & steel
10. Major technologies of the first Kondratiev Wave: (Kitab)
Steam power, cotton textiles, iron
11. Related to Long-Distance Trade:
• Let to development of absolute advantage
√ Prior to capitalism, trade confined primarily to luxury commodities
• Long-distance trade doesn’t link producers and consumers in capitalism
• all of above
• Let to development of comparative advantage
12. Related to Territorial and Geographic Changes:
• Capitalism and colonialism are closely linked
√ Capitalism creates uneven spatial development
• Unique to profit-maximizing societies
• Created a system with Europe at the center and the colonies in the periphery
• all of the above
13. Related to Finance:
• Accounting became important profession
√ all of the above
• Organization and control of money became an industry in its own right
• Money became standardized
• Cash replaced barter system
14. Which is related to class relations:
•Labor itself do not became a commodity, gave some power to workers
√ As merchants and burghers gained wealth, they also gained political power
• Fall of the middle-class or bourgeoisie-capitalist class
• Capitalist class system does not based on money and earned status
• non of these
15. Markets:
• Competition provides strong incentive to produce goods and services cheaply and efficiently to please
consumers
√ all of the above
•Profit is incentive for selling goods and services
• Consist of buyers and sellers of commodities
• Didn’t begin with capitalism, but are unique in importance to capitalism
16. Today, what region of Europe is relatively more prosperous than other regions of Europe?
• northeastern Europe
√ northwestern Europe
• southeastern Europe
• southwestern Europe
• All of the above are equally prosperous
17. Under capitalism, what is the most important institution of allocation of resources?
• the autocrats
• the elites
• the government
√ the market
• the state
18. Originally, where did modern capitalism mostly come into being?
• Central Asia
• Eastern South America
• Pacific Rim
• Southern Africa
√ Western Europe
19. On what is the capitalist class system based?
• religious rank
• tradition, family status
• military rank
√ money and earned status
• education
20. What is the dominant form of production and consumption around the world?
√ Capitalism
• Command
• Fordism
• Laissez-faire
• Mercantilism
21. Global Economy faced _________ during COVID-19
Əmin deyilik, amma nəsə mənfi, neqativ cavab olacaq.
22. What are the main components of modern World Economy?
the state;
International organizations;
National enterprises;
TNC + TNB;
Individuals.
Əmin deyilik. Bu yazdıqlarımız komponentlərdir, test variantları deyil.
23. What important modern development in economic geography is fostered by cultural, technological,
political, and cultural change?
• Communism
√ Globalization
• Capitalism
• the Demographic Transition
• Socialism
24. Which of the following are characteristics of the "world economy"?
• It is a multistate economic system.
• It was created in the late 15th and early 16th centuries.
• It includes a core of dominant countries.
• It is based on capitalism.
√ all of the above
25. What was the purpose of IMF conditionality, which was often imposed in the developing world since
1980?
• create aid packages for impoverished countries, particularly former colonies
• eliminate regional variations of standards of living in the developing world
√ restore growth, reduce central government involvement in the economy, and expand exports
• reduce the disparity of wealth between the developed and developing world
• reduce starvation in the developing world through agricultural technology
26. What is an obstacle that threatens the possibility of future economic growth in the world?
• diminishing energy supplies
• resource limitations
• environmental degradation
√ all of the above are obstacles
• none of the above are obstacles
27. Which is NOT TRUE regarding globalization?
√ It completely destroys unique local diversity.
• Rapid communication fosters this phenomena.
• Some people are unable to fully participate in globalization.
• Much of the world has not benefitted from globalization.
• The growth of tourism worldwide is a part of it.
28. What generates one-third of the foreign revenues (earnings) of the United States?
• agricultural exports
• auto exports
• heavy equipment
√ services
• tourism
29. What were the original factors of production in global development?
• water and ports
• government and economy
• banks and services
• housing and welfare
√ population and resources
30. Which is TRUE?
• FDI causes poverty in the developed and developing world.
• Western Europe is no longer in the core of the world economy.
• Import substitution leads to faster economic growth than an export-led approach.
√ The proportion of FDI that core countries are allocating to periphery countries is declining.
• TNCs are often headquartered in the developing world.
31. What is FDI?
• the work force of a TNC in the developing world
• shipments of goods between countries at reduced costs
√ investment by foreigners in factories that are operated by the foreign owners of a TNC
• balance of trade deficits that often result in profits being leaked back to the developed world
• investments in technology that speed up communications in the world economy, like satellites
and fiber optics
32. Which is NOT TRUE regarding TNCs (MNEs) ?
• Most maintain their headquarters in North America, Western Europe, and Japan.
√ Their total number has decreased since 1970 with mergers and consolidations.
• TNCs have the advantages of economies of scale.
• TNCs are the primary agents of international trade.
• They account for a large portion of the goods produced in the world.
33. What are TNCs? (These are sometimes referred to as MNEs.)
• fiber-optic cable networks that link developed countries
• transfers of payments from developed countries to lesser developed countries
• stock markets around the world, especially in the wealthier countries
√ multi-national companies, they are often headquartered in the developed world
• media networks that spread cultural ideals from one place to another
34. Which of the following is NOT TRUE regarding globalization and telecommunications?
√ Virtually all of the people on Earth have access to the Internet.
• Uneven distribution of wealth means some people lack access to telecommunications.
• The global digital communications network greatly enhances the globalization of culture.
• Some people resent globalization as they see it as American cultural imperialism.
• Some societies have enthusiastically adopted Western culture.
35. Globalization
• is inherently negative.
• is mostly negative.
√ is a mixture of both negative and beneficial effects.
• is mostly beneficial.
• is always beneficial.
36. In what decade did the Soviet bloc collapse and disappear?
• 1950s
• 1960s
• 1970s
√ 1990s
• 2000s
37. When did the relative power of the United States begin to decline with intense competition from
Japan and Germany?
• 1820s
• 1850s
• 1870s
• 1950s
√ 1970s
38. What is the Fourth World?
• countries that are often targeted for investment from the First World
• economically vital countries that have only one major export
• small countries, such as those in the Pacific Ocean
√ the poorest countries of the Third World
• women and children
39. What was the Second World?
• countries dependent on exports of raw materials
• information-based sectors of the world economy
• rapidly developing countries
√ the Soviet Union and Eastern Europe
• the lesser-developed areas of wealthy countries
40. What system involves free markets with minimal government intervention?
• bordeaux
• coup d'etat
√ laissez faire
• placido
• torreon
41. The U.S. has the largest economy in the world, and Japan has the third largest. Which country has
the second-largest economy in the world?
• Great Britain
• Brazil
√ China
• Russia
• India
42. Gross national product is a measure of
√ economic development.
• educational achievement.
• overall health.
• environmental damage.
• democratization.
43. The guiding imperative in capitalist economies is
• the means of production.
• means of transportation.
√ profit.
• resource allocation.
• service efficiency.
44. Where and when did capitalism originate?
• Indian Subcontinent (South Asia) in the late nineteenth century
• Middle East in the eighth and ninth centuries
• North Africa in the early seventeenth century
• North America and South America in the thirteenth century
√ Western Europe in the late fifteen and sixteenth centuries
45. The Lisbon Treaty
• is the first major attempt at a European Constitution and will soon face popular referendums in every
European Country
• was the proposed European Constitution that was voted down by France and the Netherlands.
√ is the second major attempt at a European Constitution, after the first was voted down.
• is the approved European Constitution, passed in 2007
• is a proposed European Constitution that will not face a popular referendum in any European country
46. The system of "floating" exchange rates that emerged after the collapse of Bretton Woods refers to
a system in which
√ world exchange rates were set by private currency markets rather than being pegged to the American
dollar.
• national exchange rates were set by private currency markets rather than being pegged to the Yen.
• continental exchange rates were set by private currency markets rather than being pegged to the U.S.
dollar.
• national exchange rates were set by private currency markets rather than being pegged to the U.S.
dollar.
• world exchange rates were set by private currency markets rather than being pegged to the euro.
https://wps.pearsoned.ca/ca_ph_brodie_critical_4/98/25293/6475186.cw/content/index.html#:~:text=
The%20system%20of%20%22floating%22%20exchange,to%20a%20system%20in%20which&text=the%2
0U.S.%20dollar.,world%20exchange%20rates%20were%20set%20by%20private%20currency%20markets%20rather,peg
ged%20to%20the%20U.S.%20dollar.
47. What was the ultimate goal of the Bretton Woods Agreement?
• The creation of a global alliance of States
• The creation of an economic trade block
√ The creation of a new world economic order
• The creation of a military alliance
https://www.open.edu/openlearncreate/mod/oucontent/view.php?id=16867&section=1.2.2
48. Which of the following is not an international capital flow?
• An American depositing money in a bank account in Zurich, Switzerland.
• A German buying a U.S. Treasury bill.
√ A Canadian purchase of a Japanese-made automobile.
• A Brazilian firm borrows from an Argentine bank.
• A Korean car company buys a factory in California.
http://www-personal.umich.edu/~alandear/courses/340/studyquestions/S01a-Overview.pdf
49. Globalisation affects IR by
• Increasing the importance of borders between countries
√ Reducing the importance of borders between countries
• Increasing migration between countries
• Reducing migration between countries
https://study.sagepub.com/worldpolitics2e/student-resources/chapter-1/multiple-choice-quiz
50. International governmental organisations are
√ Key players in global governance
• Irrelevant to global governance
• Important in bringing about improved justice and equality
• Irrelevant in a world dominated by states
https://study.sagepub.com/worldpolitics2e/student-resources/chapter-1/multiple-choice-quiz
51. The core assumption of globalists is that
• Globalisation does not exist
• Globalisation is bad for everyone
• Globalisation favours the rich
√ Globalisation theoretically increases choice of consumer goods for all
https://study.sagepub.com/worldpolitics2e/student-resources/chapter-1/multiple-choice-quiz
52. Which of these government international economic policies could not be described as Mercantilist?
• Raising tariffs on imports
√ Signing a free trade agreement with another state
• Devaluing their currency to boost exports and inward investments
• Conquering another state in order to secure greater natural resources
https://study.sagepub.com/worldpolitics2e/student-resources/chapter-18/multiple-choice-quiz
53. Which of these global economic organisations was created at the 1944 Bretton Woods Conference?
√ The International Monetary Fund (IMF)
• The World Trade Organization (WTO)
• The International Trade Organization (ITO)
• The Organization for Economic Cooperation and Development (OECD)
https://study.sagepub.com/worldpolitics2e/student-resources/chapter-18/multiple-choice-quiz
54. On this stage countries within a geographical region agree to reduce or eliminate tariff barriers on
selected goods imported from other members of the area:
• Customs union
• Free trade area
• Common market
• Political union
√ Preferential Trade Areas
55. Marshall Plan" has been associated with:
• economic assistance to the UK
• creation of the European Atomic Energy Community
√ U.S. economic assistance to Western European countries
• transfer of management of coal mining in France and Germany to a supranational body
• International control over key sectors of the defense industry of the EU
56. The European Union...
• all answers are incorrect
• has already developed all of the key features of a centralized, unitary state.
√ requires member states to 'pool' sovereignty in a number of policy areas.
• is under the complete control of unelected bureaucrats.
• can do nothing unless all of its member states agree.
57. According to the Maastrict Treaty, which of the following is NOT a criterion for an EU member to join
the Economic and Monetary Union?
• The exchange rate must be stable
• The inflation rate must be no more than 1.5% higher than the average inflation rate of the three EU
countries with the lowest inflation rate
√ The unemployment rate must be no more than 7%.
• Public debt must be less than or approaching 60% of gross domestic product.
• Government deficits must generally be no higher than 3% of gross domestic product
58. Which of the following is considered part of the economic case for regional integration?
• International trade theories suggest that the dominant partner in regional economic integration will
gain, resembling a zero-sum game
• Economic and monetary union
• Increasing the political sovereignty of member countries
• An attempt to achieve additional gains from the free flow of trade and investment between countries
√ Creating greater independence of the member states through increased economic strength
OR
• Increasing the political sovereignty of member countries
√ An attempt to achieve additional gains from the free flow of trade and investment between countries
• International trade theories suggest that the dominant partner in regional economic integration will
gain, resembling a zero-sum game.
• all answers are incorrect
• Creating greater independence of the member states through increased economic strength
59. This stage is the first significant step towards full economic integration, and occurs when member
countries trade freely in all economic resources – not just tangible goods, all barriers to trade in goods,
services, capital, and labour are removed.:
• Political union
• Customs union
• Economic and monetary union
√ Common market
• Free trade area
60. Which of the following forms of economic integration describes the most integration among
countries?
• all answers are incorrect
• common union.
• common market.
√ economic union.
• free trade area
61. A "common market" means that in addition to being a customs union,
• member states must maintain a maximum level of inflation and deficit spending
• member states pay subsidies to domestic industries and agriculture equally across the market
• member states raise a common external tariff.
√ member states allow labor and capital (as well as goods) to flow freely across borders.
• member states adopt a single currency
62. Which of the following is not a Convergence Criteria?:
• Long-term interest rates should not exceed by more than 2% of the mean value of the corresponding
rates in the countries with the lowest inflation
• Public debt: no more than 60% of GDP
• Budget deficit is not more than 3% of GDP;
√ Balance of payments must be positive
• The inflation rate should not exceed more than 1.5% of the average values of the three EU member
states with the most stable prices;
63. Free Trade Area (FTA) assumes:
• Volatile exchange rate
• the creation of a unified central bank;
• all answers are incorrect
• elimination or reducing all trade restrictions for member countries and also adopting common
external tariffs on products imported from outside the area;
√ elimination of tariffs among countries, but each country imposes its own external tariffs to the third
country;
64. EEC was transformed into the European Union in accordance with;
√ the Maastricht Treaty
• Benelux agreement
• the Lisbon Treaty
• the agreement on the establishment of the Customs Union;
• Andean agreement;
65. Globalization involves:
• A stretching of social, political, and economic activities across political frontiers.
√ all answers are correct
• An accelerating pace of global interactions and processes associated with a deepening enmeshment of
the local and the global.
• all answers are incorrect
• A growing magnitude of interconnectedness in almost every sphere of social existence.
66. The most direct impact of NAFTA on Canada-US trade is in which of the following areas?
• Mexico's inclusion in 1995.
√ reduction of tariffs.
• increase in tariffs.
• reduced unemployment rate.
https://tools.mheducation.ca/college/partridge/student/olc/1mcp_mc_14.html
67. Which of the following describes an agreement between two businesses in which they share
technology, market connections, or some other advantage that one has the other lacks?
• direct ownership.
• venture capital.
√ strategic alliance.
• economic union.
https://tools.mheducation.ca/college/partridge/student/olc/1mcp_mc_14.html
68. Which of the following organizations has helped stabilize currency exchange rates?
• UN
• World Trade Organization (WTO).
• Bank for International Settlements.
√ International Monetary Fund.
• World Bank.
69. Which of the following forms of economic integration describes the most integration among
countries?
• all answers are incorrect
• common union.
• common market.
√ economic union.
• free trade area
70. Which of the following describes payments to a government to bring products into a country?
• taxes.
√ tariffs.
• non-tariff barriers.
• quotas.
https://tools.mheducation.ca/college/partridge/student/olc/1mcp_mc_14.html