Preliminary Exam on Economic Globalization

What is the best definition of economic globalization according to Szentes (2003)?

• The spread of technology across borders

• The integration of economies worldwide

• The process of making the world economy an 'organic system'

• Increasing flow of international capital

Which organization was established in 1995 to ease trade among countries?

• United Nations

• World Trade Organization

• International Monetary Fund

• World Bank

Economic globalization involves the following dimensions, EXCEPT:

• Globalization of trade and goods and services

• Globalization of financial and capital markets

• Globalization of technology and communication

• Globalization of political systems

What does FDI stand for in economic globalization?

• Foreign Development Industry

• Foreign Direct Investment

• Financial Development Index

• Financial Direct Investment

Which country is NOT mentioned as one of the Philippines' trading partners?

• China

• United States

• Australia

• Japan

Which of the following is NOT a key actor in economic globalization?

• Nation-states

• Global corporations

• International monetary systems

• Non-government organizations

What is one of the benefits of economic globalization according to the World Bank (2002)?

• It reduces international trade

• It allows the exploitation of natural resources

• It reduces poverty

• It creates economic instability

According to Benczes (2014), what does economic globalization foster?

• Global inequality

• Environmental degradation

• Universal economic growth

• Political unity

Which of the following is a form of financial market liberalization?

• Cross-listing of shares on foreign stock exchanges

• Reduction in tariffs

• Bilateral trade agreements

• Increase in domestic savings

Which of the following countries is an example of one that relies on other nation-states for raw materials, according to the presentation?

• Philippines

• Australia

• China

• United States