Economic Globalization Unit 3 Review Social 10-2

What was the Bretton Woods Agreement?

• An international monetary system established in 1944

• A peace treaty signed after World War II

• A trade agreement between the US and Europe

• A military alliance formed during the Cold War

Which organizations were founded by the Bretton Woods Agreement?

• International Monetary Fund (IMF) and World Bank, to promote international economic cooperation and development

• United Nations and World Health Organization, to promote global peace and health

• NATO and European Union, to ensure military and economic stability

• World Trade Organization and International Labour Organization, to regulate trade and labor standards

What do the World Bank and IMF do?

• They provide financial and technical assistance to developing countries.

• They regulate international trade agreements.

• They manage global environmental policies.

• They oversee international sports events.

How does the IMF influence economic policies in member countries?

• The IMF provides financial assistance with conditions.

• The IMF allows countries to set their own economic policies without interference.

• The IMF focuses solely on humanitarian aid.

• The IMF has no impact on national economic policies.

How do the IMF and the World Bank affect countries?

• They provide financial assistance and policy advice to both developed and developing countries.

• They only focus on providing aid to developing countries.

• They primarily affect developed countries by imposing strict economic policies.

• They have no significant impact on either developed or developing countries.

NAFTA is a:

• Trade agreement between the US, Canada, and Mexico

• Military alliance in North America

• Cultural exchange program

• Environmental treaty

Which of the following is an argument for free trade?

• It leads to job losses in certain industries.

• It promotes economic growth and efficiency.

• It results in trade deficits.

• It causes environmental degradation.

What is the WTO? How does it influence countries?

• The WTO is a global organization that regulates international trade and influences countries by setting trade agreements and resolving disputes.

• The WTO is a financial institution that provides loans to countries and influences them by setting economic policies.

• The WTO is a cultural organization that promotes global heritage and influences countries by preserving historical sites.

• The WTO is a military alliance that influences countries by providing defense support.

What is the G8 (G7 today)?

• A group of eight major industrialized countries

• A military alliance

• An international sports organization

• A global environmental initiative

What are the opinions about the G8?

• Positive

• Negative

• Mixed

• Neutral