Global Economy and Institutions Quiz

What is another term for the global economy?

• World finance

• World economy

• Global trading system

• International banking

Market integration occurs when:

• Prices in different locations follow the same patterns over time

• Countries close their markets to foreign investments

• Governments intervene heavily in price regulations

• Businesses operate only within national borders

Which of the following best defines market integration?

• A system where countries isolate themselves from the global economy

• When prices of goods and services remain consistent across different markets

• A global organization that regulates trade among countries

• A system where labor markets are restricted by government policies

What is the primary role of the International Monetary Fund (IMF)?

• Resolving international conflicts

• Providing long-term development aid

• Stabilizing global economies and exchange rates

• Regulating private corporations

How did the World Bank contribute to global economic development?

• By funding renewable energy projects in Africa

• By creating international trade laws

• By limiting loans to developing countries

• By restricting financial markets

The World Trade Organization (WTO) is responsible for:

• Regulating global financial markets

• Monitoring international conflicts

• Resolving trade disputes and promoting free trade

• Providing emergency relief funds

Which of the following institutions strengthens banking regulations to prevent risky lending?

• World Trade Organization

• Bank for International Settlements

• International Monetary Fund

• World Bank

Global corporations are characterized by:

• Operating in one country only

• Expanding into multiple foreign markets

• Avoiding international business regulations

• Focusing only on domestic production

What was a key factor in labor market integration in Asia between 1882 and 1936?

• Strict immigration laws

• Mass migration of workers from India and China

• The decline of steamship travel

• Reduced demand for labor in Southeast Asia

How did steamships contribute to labor market integration?

• By reducing migration rates

• By replacing manual labor in Asia

• By making transportation faster and cheaper

• By limiting trade between Asia and Western markets