INTERNATIONAL ECONOMICS - Chapter 1

International economics studies the economic interactions between countries, including trade, investment, and financial transactions.

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International trade only refers to the exchange in goods between countries.

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• False

Globalization is the economic integration of the world through increased trade, investment, and monetary transactions across international borders.

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The world has experienced four significant periods of globalization

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The global financial crisis of 2008-2009 temporarily slowed down globalization's progress.

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People worldwide increasingly share similar preferences.

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Goods often come from abroad or contain imported parts.

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Small companies face only local ones in competition.

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Many workers have moved across borders, and jobs have shifted to emerging markets

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International transactions require conversions between currencies.

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