Economics Quiz Lesson 4 Global Economy

What is globalization?

• The process of interdependence among countries

• The process in which countries are increasingly linked to each other through culture and trade

• The process of providing aid to developing nations

• The process of creating trade barriers between nations

What are popular culture traits?

• Culture traits that are well known and widely accepted

• The process of globalization

• Trade barriers that limit free trade between nations

• The process in which countries depend on each other for resources, goods, or services

What are the key improvements that have made global trade faster and easier?

• Quotas, tariffs, and embargoes

• Telecommunication, computers, and the Internet

• The World Bank and the International Monetary Fund

• Multinational corporations and interdependence

Why do many developing nations want multinational corporations to invest in them?

• Because they create jobs

• Because they provide aid to developing nations

• Because they protect domestic goods

• Because they promote popular culture

What are two international organizations that aid developing nations?

• The World Bank and the International Monetary Fund

• The World Trade Organization and the United Nations

• The World Bank and the World Trade Organization

• The International Monetary Fund and the United Nations

What are three types of trade barriers?

• Interdependence, globalization, and popular culture

• The World Bank, the International Monetary Fund, and the World Trade Organization

• Quotas, tariffs, and embargoes

• Telecommunication, computers, and the Internet

True or False: The process in which countries are linked to one another through culture and trade is called popular culture.

• True

• False

True or False: Culture traits such as food, music, movies, and sports are examples of globalization.

• True

• False

True or False: As a result of globalization, there is more interdependence among countries.

• True

• False

True or False: The World Trade Organization works to create trade barriers between nations.

• False

• True