The American Sociologist who described high-income nations as the core of the world economy and low-income countries as the periphery.

Under globalization, the following shaped and influenced the global economy EXCEPT

The exchange of value of gold then depends on the two sides engaged in trade or transaction.

The system made after World War II and became the precursor to the current global economic setup.

In 1944, 44 capitalist countries led by the US met at Bretton Woods, a town in ___________________.

Its primary purpose is to ensure the stability of the system of exchange rates and international payments that enables countries to transact with each other.

The following are critiques against IMF and World Bank EXCEPT

Greece, Spain, and Portugal are the best examples of core regions/countries.

The economies of semi-peripheral regions/countries seemingly grow at the expense of core regions/countries in Immanuel Wallerstein's world-systems theory.

After the creation of the UN Security Council, the US dollar became the global currency.

They are seemingly made permanently dependent on the core regions/countries as they fail to or are hindered from using their natural resources for industrialization.

Modern-day global corporations can trace their lineage to the era of colonialism when colonizers exploited colonies as cheap sources of raw materials, slave labor, or as markets for surplus goods.

It emphasizes its two goals: to end extreme poverty and promote shared prosperity in a sustainable way.

Even workers in the biggest capitalist country in the world are now negatively affected by globalization's policies

Which of the following is NOT included in the benefits of RA 11203 or the Rice Tarification Law?

It happens when a country is buying more goods and services than it is selling.

As of now, how many is the total number of member countries in the United Nations?

It has the power to impose economic sanctions on any UN member nation that violates UN rules and decisions.

__________ and ____________ are necessary for making global governance through the UN bodies possible.

Under the Bretton Woods system, participants in a transaction directly exchange goods or services for other goods or services.

According to Wallerstein's world-systems analysis, to what group does China belong?

Global market integration can be achieved without the growth of global corporations.

The establishment of the United Nations organization further stimulated international trade as the member countries agreed to fix their currencies to the U.S. dollar.

US dominance in the capitalist remained undisputed until China outperformed them in terms of Gross Domestic Product.

A place where member governments try to sort out the trade problems they face with each other.

He acknowledges that globalization has its discontents (has global governance without global government).

He sees the two financial institutions (IMF and World Bank) as the perpetrators of the debt trap.

He criticizes the IMF and World Bank as the two lending firms oblige debtor countries to implement structural adjustments that only cause impoverishment for them.

The current global economy would have been impossible to establish without the financial power of international institutions.

World bank group is composed of eleven entities.

Globalization requires some sort of global, or atleast, international governance.