GEC04 - Midterm Quiz II

Political is the process of making the world economy an ‘organic system’.

• TRUE

• FALSE

American government authorities failed to regulate bad investments occurring the US housing market.

• TRUE

• FALSE

Russia’s case was just one example of how the “shock therapy” neoliberalism did not lead to the ideal outcomes predicted by economists in perfectly free markets.

• TRUE

• FALSE

Globalization has, in a way, reshaped the role and functions of nation-states as governing bodies in their particular territories.

• TRUE

• FALSE

The third effect of globalization is the establishment of international laws and principles.

• TRUE

• FALSE

Liberalism is commonly associated with Laissez-faire.

• TRUE

• FALSE

United Nations is seen to impose a forced choice upon nation-states

• TRUE

• FALSE

Cross hedge is an investment strategy that involves taking a position on a commodity followed by an equal but opposite futures position on a different commodity with similar price movements.

• TRUE

• FALSE

20^th-century transport revolution is considered the “golden age of globalization” because it promoted relative peace, free trade, and financial and economic stability.

• TRUE

• FALSE

State is a group of people bound together by certain characteristics such as common social origin, language, customs, and traditions.

• TRUE

• FALSE