Contemp arts Quiz 2

What has been one impact of globalization on indigenous communities?

• Greater protection of ancestral lands and cultural heritage

• Forced displacement due to economic development projects

• Economic self-sufficiency and increased wealth

• Decreased influence of multinational corporations

• Strengthened local economies through traditional trade practices

Which concept describes how globalization has allowed for the worldwide spread of ideas, products, and cultural trends?

• Economic nationalism

• Protectionism

• Cultural diffusion

• Mercantilism

• Domestic isolationism

Which region has benefited the most from China's Belt and Road Initiative?

• North America

• Western Europe

• Africa and Southeast Asia

• South America

• The Middle East

The term "brain drain" refers to:

• The migration of skilled professionals from developing to developed nations

• The outsourcing of unskilled labor to foreign markets

• The increase in technological automation replacing human jobs

• The decline in global literacy rates

• The loss of trade due to economic protectionism

Which of the following has played a role in the decline of labor unions?

• The increased power of multinational corporations

• The rise of state-controlled economies

• The elimination of outsourcing and offshoring

• The expansion of government-led job programs

• The banning of free trade agreements

What is a major drawback of foreign direct investment (FDI) in developing nations?

• It can increase dependence on foreign corporations and reduce domestic economic control

• It always leads to significant increases in local wages and improved working conditions

• It guarantees that all profits remain within the host country

• It discourages multinational corporations from engaging in local labor markets

• It prevents economic growth by restricting capital flow into developing nations

What is a defining feature of the modern globalized economy?

• Nations focus exclusively on self-sufficiency rather than trade

• Governments play a minimal role in shaping economic policies

• There is a high level of economic interdependence between countries

• Protectionist policies have eliminated most international trade agreements

• Trade barriers have significantly increased across major economies

The European Union is an example of which form of economic integration?

• Preferential trade area

• Free trade area

• Economic and monetary union

• Customs union

• Bilateral trade agreement

The term "McDonaldization" refers to:

• The rapid expansion of fast-food chains into developing economies

• A decline in consumer interest in multinational corporations

• The replacement of fast-food chains with local businesses

• The collapse of global supply chains in food industries

• The reduction of foreign investment in retail markets

Which economic policy aims to shield domestic industries from foreign competition?

• Free-market capitalism

• Economic liberalization

• Protectionism

• Global integration

• Neoliberal deregulation