contemp arts Quiz 4

What is a primary reason why countries enter free trade agreements?

• To increase economic cooperation and reduce trade barriers

• To eliminate all foreign competition in their domestic markets

• To restrict access to international goods and services

• To enforce tariffs on all imported products

• To reduce economic growth in developing nations

What is an example of cultural globalization?

• The popularity of international fast-food chains like McDonald's

• The restriction of foreign films in national cinemas

• The decline of multinational corporations

• The removal of language diversity in global communication

• The elimination of traditional music in international media

Which region has benefited the most from global outsourcing?

• South and Southeast Asia

• Western Europe

• North America

• The Middle East

• Eastern Europe

How do multinational corporations influence government policies?

• They lobby for favorable trade and investment laws

• They eliminate the need for national economic regulations

• They reduce global trade competition

• They prioritize small business growth over profit

• They exclusively operate within their home countries

Which global institution is responsible for resolving trade disputes between countries?

• World Trade Organization (WTO)

• International Monetary Fund (IMF)

• United Nations Security Council

• World Bank

• Organization of Economic Cooperation

What is a common argument against globalization?

• It leads to economic exploitation of weaker nations

• It reduces income inequality worldwide

• It eliminates the influence of multinational corporations

• It prevents global trade expansion

• It reduces access to foreign goods and services

What is a potential benefit of globalization for consumers?

• Access to a wider variety of goods and services at lower prices

• Increased restrictions on imported products

• Limited access to digital marketplaces

• Elimination of multinational corporations from local economies

• Higher production costs due to international competition

What is one of the primary drivers of global wealth inequality?

• Unequal access to education, capital, and technological advancements

• The complete elimination of international trade barriers

• The decline of multinational corporations in global markets

• The universal enforcement of minimum wage laws worldwide

• The reduced role of financial institutions in global economies

Which factor has significantly influenced the expansion of international trade in recent decades?

• The development of faster and more efficient transportation networks

• The complete removal of economic interdependence among nations

• The restriction of digital communication between trading partners

• The decline of international financial institutions like the WTO and IMF

• The increase in government-imposed tariffs on global imports

How has globalization affected traditional manufacturing industries in developed countries?

• Many manufacturing jobs have been outsourced to countries with lower labor costs

• Domestic manufacturing has expanded due to free trade agreements

• Governments have eliminated all regulations on factory conditions

• The demand for skilled labor in manufacturing has decreased significantly

• Multinational corporations have shifted all production back to developed nations