GLOBALIZATION AND PROSPERITY



GLOBALIZATION AND PROSPERITY - Soc 10 Quiz

Use the following information to answer the next question.

1. Which of the following statements about the given information is correct?

A. Frederich Hayek would agree, but John Maynard Keynes would not.

B. John Maynard Keynes would agree, but Frederich Hayek would not.

C. Both would agree.

2. Which of the following reasons was a motivation for the decisions made at the Bretton Woods conference that occurred after WWII?

A. Western countries wanted to establish a military alliance to protect themselves from the Communist threat.

B. WWII made countries want to establish isolationist policies in order to prevent such a wide scale threat in the future.

C. Countries began to see the need for economic cooperation in order to stabilize the post-war economies of the world.

3. A central purpose of both the European Union and NAFTA is to

A. remove trade barriers among nations

B. fight human rights abuses in non-democratic nations

C. protect the environment from damage

4. An opponent of expanding economic globalization would most likely argue that a negative effect of globalization is that it causes

A. national governments to have less control over their economic policies

B. the economic and political influence of large corporations to be reduced in most nations

C. economic power shifts from the wealthy, developed nations to the poorer, developing nations.

5. The primary goal of NAFTA is to achieve economic

A. security through nationalization

B. equality through sharing technology

C. cooperation through closer trade links

6. European Nationalists often express fear that the movement to greater unity through membership in the European Union represents a threat to their nations

A. air, army, and naval forces

B. economic and cultural independence

C. changing colors of the national flag

7. By the mid 1900’s, Canada, Mexico, and the United States had formally agreed to

A. form a military alliance

B. establish a free trade zone

C. create a common currency

Interdependence among nations is increasing.

8. Which of the following statements best supports this generalization?

A. There are still many non-democratic nations in the world

B. The United nations continues to operate despite a severe shortage of money

C. Trade in goods and the exchange of technological ideas has expanded globally.

9. Human rights activists have expressed concern that increased globalization has led to

A. the exploitation of workers in developing countries by powerful multi-national corporations

B. increased power being taken by international labor union organizations

C. a sharp drop in the standard of living of people in the developed world

10. Much of the left wing opposition to the World Trade Organization would cease if the organization

A. began to promote economic protectionism

B. stopped providing assistance to developing economies

C. began to enforce fair worldwide labor standards and sound environmental standards

11. Canada, USA, Russia, Germany, France, Japan, UK, and Italy all belong to what organization?

A. Group of Eight (G8)

B. The Commonwealth

C. North Atlantic Treaty Organization (NAFTA)

|Speaker #1: |

|"I feel I have an important role as a steward of the environment. Not only does pollution and habitat destruction not aesthetically pleasing, it has the |

|potential to harm my health, as well as the health of my children and the quality of life they will be able to enjoy as an adult." |

| |

|Speaker #2: |

|"I consider myself an environmentalist and take this role very seriously, not just because the destruction of our natural world has the potential to greatly |

|impact the future of the human race, but because I believe I have an inherent responsibility to look after the earth and all the creatures of the earth. We |

|must remember that as humans, we only one part in a much larger picture of creation." |

| |

|Speaker #3: |

|"I think we really need to think about how we will protect the environment and resources – we risk economic ruin if we do not start using our resources in a |

|more sustainable manner, and consider the impact on the future if we continue to indiscriminately use resources without a good idea of what our needs will be |

|in the future, and how long our resources will last." |

| |

12. Which of the following statements about the four speakers is true?

[pic]A. Speaker #3 would support increased government intervention in the economy and the regulation of industry to meet environmental standards.

[pic]B. Speaker #1, #2 and #3 would all support the Kyoto Accord or similar legislation.

[pic]C. Speaker #2 has a spiritual motivation for environmental stewardship of the earth and its resources.

13. Globalization, through trade liberalization may increase the economic growth of countries and has demonstrated the potential to negatively impact the environment. The mechanism through which this may occur is that increased economic growth may:

[pic]A. result in wealthier governments creating more legislation aimed at environmental issues.

[pic]B. encourage overconsumption of goods, creating higher debt levels for individuals and lowering their commitment to supporting environmental charities or initiatives.

[pic]C. cause increase production creating increased levels of pollution and unsustainable consumption of resources.

Sampling of Major UN Millennium Development Goals

|Economic |Eradication of poverty. |

| |Reduction of national debt. |

| |Trade liberalization with a focus on developing nations. |

| |International partnerships for development. |

|Social |Eradication of hunger. |

| |Universal education |

| |Gender equality. |

| |Improved health outcomes. |

| |Disease reduction. |

| |Improved quality of life for impoverished people of developing nations. |

|Environmental |Combat climate change. |

| |Sustainable resource development. |

| |Maintain biological diversity. |

| |Increase access to safe and sustainable sources of fresh, drinking water. |

14. The information presented in the table above represents:

[pic]A. The economic, social and environmental effects of the global economy in regard to economic growth.

[pic]B. The positive outcomes associated with trade partnerships conducted between developed and developing nations.

[pic]C. Some of the environmental, social and economic factors which will help attain global sustainable prosperity.

15. In 1944, representatives from 44 Allied nations met to discuss the economic order of the globe when World War II finally ended. The result was the signing of an agreement which would see the establishment of a new international monetary system. This event which saw the signing of this agreement was called the

[pic]A. North Atlantic Treaty Organization

[pic]B. The Charlotte Town Accord

[pic]C. Bretton Woods Conference

16. Economic policies of one nation can affect the economic policies of another. This concept is most relevant in

[pic]A. global economics

[pic]B. market economics

[pic]C. mixed economies

17. Which of the following countries are presently members of NAFTA?

A. Peru, Argentina, and Chile

B. Brazil, Venevuala, and Bolivia

C. Canada, Mexico, and the US

 

|These enterprises were described by the United Nations as 'the productive core of the globalizing world economy.' |

18. These enterprises are known as__________and are characterized by__________.

[pic]A. Transnational corporations; operation in more than one country at a time.

[pic]B. Crown Corporations; business or industry given special financial incentives by the government.

[pic]C. Franchises; operation in more than one city or economic region of a nation at one time.

 

|Economist #1: "This process has resulted in increased prosperity for some people." |

|Economist #2: "This process has contributed to global income inequality." |

|Economist #3: "This process has been a source of conflict between individuals and nations." |

19. Which of the following statements regarding the three economists above is most accurate?

[pic]A. None of the economists are supporters of free trade.

[pic]B. All three economists are talking about the impact of economic globalization.

[pic]C. Economist #1 would favor protectionism, while Economist #2 and #3 would not.

20. Which of the following alliances is most concerned with economic security for Canada?

[pic]A. NATO

[pic]B. NORAD

[pic]C. NAFTA

21. Which of the following is necessary for development and progress to be made sustainably?

[pic]A. A democratic referendum by the people who will be affected by the development.

[pic]B. Consideration of environmental impact by economic and political decision-makers.

[pic]C. An international treaty to use less energy and farm more efficiently.

Use the following to answer the next questions:

Sampling of Major UN Millennium Development Goals

Economic

Eradication of poverty.

Reduction of national debt.

Trade liberalization with a focus on developing nations.

International partnerships for development.

Social

Eradication of hunger.

Universal education

Gender equality.

Improved health outcomes.

Disease reduction.

Improved quality of life for impoverished people of developing nations.

Environmental

Combat climate change.

Sustainable resource development.

Maintain biological diversity.

Increase access to safe and sustainable sources of fresh, drinking water.

22. The information presented in the table above represents:

A) The economic, social and environmental effects of the global economy in regard to economic growth.

B) The positive outcomes associated with trade partnerships conducted between developed and developing nations.

C) Some of the environmental, social and economic factors which will help attain global sustainable prosperity.

D) The Millennium Goals to be accomplished by the combined efforts of the World Trade Organization, World Bank and International Monetary Fund

23. What is the best explanation for why many people consider transnational corporations a progressive and positive global force?

A) The contribution of economic power from prosperous nations to less developed nations.

B) Compromised political sovereignty for local governments as a result of transnational influence.

C) Transnational peace-keeping projects to reduce conflict between undeveloped nations.

D) Increased independence and autonomy for the world's nations as a result of transnational works.

24. The simplest form of global integration of the world's economies is represented by the:

A) development of the World Bank

B) sharing of information for the purpose of trading

C) establishment of the International Monetary Fund

D) import and export of goods and services

[pic]

25. Based on the timeline shown above, which of the following statements regarding the time periods marked 'A' and 'B' is not accurate?

A) The style of economy occurring before time point A and after time point B would have been one advocated by British economist F.A. Hayek.

B) 'A' denotes a change in economic strategy which includes more government involvement in the economy in response to the economic turmoil culminating in the Great Depression and World War II

C) American economist Milton Friedman would have approved of the economic system implemented in the time period between point A and point B.

D) The time periods denoted by 'A' and 'B' indicate the start and end of the use of the Bretton Woods System.

26. In 1947, 23 nations signed the General Agreement on Tariffs and Trade (GATT). What was the agreement's primary purpose?

A) Attempt to prevent future wars

B) To establish a principal of non-competition in international trade

C) Attempt to provide fundamental rights and freedoms to all people

D) To develop a process whereby member nations could increase international trade

[pic]

Gross Domestic Product in US$ Billions in Countries and

Transnational Corporations in 2000

27. Based on the information in the chart, what is the most accurate conclusion to be drawn about the role of transnational corporations in the 21st century?

A) Transnational corporations are successfully closing the gap between "have" and "have-not" nations.

B) Only US-based transnational corporations have succeeded in achieving powerful international roles.

C) Transnational corporations have grown large enough to have a significant global cultural and political impact, as well as an economic one.

D) The world's poorer nations are steadily losing ground to the economic expansionism of certain transnational corporations.

Advocates of this process say that it promotes trade through trade liberalization as it lowers taxes because the services are no longer paid for by taxpayers, and that the competition that results increases the quality of the goods and decreases the price.

Opponents of this process say that it makes services more expensive because private companies are profit driven, and that this need to make a profit may increase the costs of goods or services, making some essential services unaffordable to some people.

28. The process being discussed above is:

A) Creation of transnational corporations.

B) Outsourcing/Offshore business.

C) Foreign investment.

D) Privatization.

Globalization and particularly the globalization of trade has been able to expand through two features which assist in the 'supply' of goods and the creation of the 'demand' for them.

29. These two factors and the part of the economic market they assist with are:

A) Transportation = Supply Communication = Demand

B) Communication = Supply Transportation = Demand

C) Media = Supply Industrialization = Demand

D) Media = Supply Communication = Demand

30. What is the best explanation for why many people believe the "global economy" created by transnational corporations is preferable to a world economy based on individual nation states?

A) They believe the nation state system fosters conflict, and the global economy fosters cooperation.

B) They believe the nation state system fosters conflict, and the global economy encourages exploitation.

C) They believe the nation state system is corrupt, and the global economy is grounded in economic interests.

D) They believe the nation state system is obsolete, and the global economy is transnational.

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Government does not have a responsibility to provide economic security for its citizens. Social programs and government bail-outs lead to apathy and an economy that is not as efficient or productive as it could be.

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