WorksheetsPRELIM WEEK 2 QUIZ CW BSRT2-A/BSPT
Total questions: 15
Worksheet time: 8mins
TRUE or FALSE:
One important view is that a global economic system, specifically a global capitalist system, emerged in about 1896 and reached something of a peak throughout the world in 1914.
(a)
TRUE or FALSE:
During the earlier epoch, global progress was spurred by such developments in transportation as the railroad and the steam ship, whereas in more recent years it is the airplane that played a central role in that development.
(a)
TRUE or FALSE:
The development of economic globalization can be seen after WW II in the context of this prior epoch of economic globalization, as well as its collapse as a result of WW I, the Depression, and WW II.
(a)
TRUE or FALSE:
Those concerns were the backdrop for the creation of the Bretton Woods system and its five key elements.
First, each participating state would establish a ‘par value’ for its currency expressed in terms of gold or (equivalently) in terms of the gold value of the US dollar as of July 1944.
(a)
TRUE or FALSE:
Those concerns were the backdrop for the creation of the Bretton Woods system and its five key elements.
Second, the official monetary authority in each country (a central bank or its equivalent) would agree to exchange its own currency for those of other countries at the established exchange rates, plus or minus a one-percent margin.
(a)
TRUE or FALSE:
Those concerns were the backdrop for the creation of the Bretton Woods system and its five key elements.
Finally, the entire system was based on the US dollar (at the end of WW II the US had about three-fourths of the world’s gold supply and accounted for over one-fifth of world exports). The US agreed to make the dollar convertible into other currencies or gold at the fixed par value. The dollar became, in effect, a global currency.
(a)
TRUE or FALSE:
In terms of global investment, a key role was envisioned for the World Bank, but massive US aid through the Marshall Plan, and rapid European post-war recovery, made its work in that period of much less significance than had been anticipated.
(a)
TRUE or FALSE:
The global openness encouraged by Bretton Woods also contributed to the emergence or expansion of social welfare programs, indeed the welfare state, in many countries.
(a)
While it was a creation of Bretton Woods, it never got started.
International Trade Organization (ITO):
GATT (General Agreement on Tariffs and Trade):
Trade-Related Intellectual Property Rights (TRIPS):
Trade-Related Investment Measures (TRIMs):
World Trade Organization (WTO):
It was a system for the liberalization of trade that grew out of Bretton Woods and came into existence in 1947.
International Trade Organization (ITO):
GATT (General Agreement on Tariffs and Trade):
Trade-Related Intellectual Property Rights (TRIPS):
Trade-Related Investment Measures (TRIMs):
World Trade Organization (WTO):
_____ involve intangible ideas, knowledge, and expressions that require their use be approved by their owner.
International Trade Organization (ITO):
GATT (General Agreement on Tariffs and Trade):
Trade-Related Intellectual Property Rights (TRIPS):
Trade-Related Investment Measures (TRIMs):
World Trade Organization (WTO):
WTO agreement on trade measures governments can impose on foreign firms.
International Trade Organization (ITO):
GATT (General Agreement on Tariffs and Trade):
Trade-Related Intellectual Property Rights (TRIPS):
Trade-Related Investment Measures (TRIMs):
World Trade Organization (WTO):
162-member international institution that monitors GATT agreements and mediates international trade disputes, headquartered in Geneva, Switzerland.
International Trade Organization (ITO):
GATT (General Agreement on Tariffs and Trade):
Trade-Related Intellectual Property Rights (TRIPS):
Trade-Related Investment Measures (TRIMs):
World Trade Organization (WTO):
TRUE or FALSE:
President Richard Nixon took the US off the gold standard resulting in a devaluation of the dollar and the end of the standard by which the currencies of other nations operated.
(a)
TRUE or FALSE:
Recent changes in the organizations are traceable to several major forces including globalization (a concept and a process not even dreamt of in 1944), major trade disputes, and the increasing power and ambition of growing economic powers, especially in Asia.
(a)
