Deck 54: Debate on Globalization

Question 1

Whats defention of terms:
-free trade

Answer 1

condition under which all goods and services must be allowed to travel freely in global trade without any barriers

Question 2

Whats defention of terms:
-globalization

Answer 2

the process of growing interdependence among countries

Question 3

Whats defention of terms:
-privatization

Answer 3

giving away or selling public property to private individuals

Question 4

Explain the mechanisms of global trade, investment, and finance by which instability in one country spreads to other countries.
-What is the "process of globalization"? What distinguishes the corporate-led globalization process?

Question 5

Explain the mechanisms of global trade, investment, and finance by which instability in one country spreads to other countries.
-Explain the arguments of free-market economists that procorporate globalization is a predominantly positive trend in the world economy.

Question 6

Discuss the positive aspects of globalization.
-How do progressive economists view corporate-led globalization?

Question 7

Discuss the positive aspects of globalization.
-What are indicators used to measure the positive aspects of globalization?

Question 8

Discuss the positive aspects of globalization.
-What enabled growth in countries due to the process of globalization?

Question 9

Discuss the negative aspects of globalization.
-Examine the major conflicts emerging from globalization, such as those associated with employee-employer interests, insufficient trust, and environmental destruction.

Question 10

The conservative position on the global movement of financial capital is that

A) the rapid movement of financial capital into and out of a country can be destabilizing to the country's economy.
B) the free movement of financial capital from one country to another will ensure that it will be put to the most productive use.
C) the movement of financial capital out of the developed countries and into the developing countries will lead to greater inefficiency and lower productivity.
D) all international movement of financial capital should be regulated by the International Monetary Fund.

Question 11

The progressive position on the global movement of financial capital is that

A) the rapid movement of financial capital into and out of a country can be destabilizing to the country's economy.
B) the free movement of financial capital from one country to another will ensure that it will be put to the most productive use.
C) the movement of financial capital out of the developed countries and into the developing countries will lead to greater inefficiency and lower productivity.
D) all international movement of financial capital should be regulated by the International Monetary Fund.

Question 12

Conservatives point to the positive aspects of globalization including

A) the increase in the growth rate of the GDP of the global economy since 1970.
B) the increase in the growth rate of GDP per capita since 1970.
C) the increase in the profit rate of the 500 largest transnational corporations since 1970
D) the increase in the growth rate of real global investment since 1970.

Question 13

Progressives point to the negative aspects of globalization including

A) the decrease in the growth rate of the GDP of the global economy since 1970.
B) the decrease in the growth rate of GDP per capita since 1970.
C) the increase in global inflation since 1970
D) the decrease in the volume of global trade since 1970.

Question 14

The wealth of individuals in all countries has been estimated at

A) $125 million
B) $125 billion
C) $125 trillion
D) $125 quadrillion

Question 15

The world's richest 1% of households own ____________of the world's wealth

A) 1%
B) 20%
C) 40%
D) 60%

Question 16

The poorest 50% of the world's population own ____________of the world's wealth

A) 1%
B) 15%
C) 30%
D) 50%

Question 17

A key indicator of global warming is the increase in greenhouse gases such as

A) sodium chloride
B) carbon dioxide
C) helium
D) sulfuric acid

Question 18

The term, "outsourcing" means

A) turning over part of a production process to an outside supplier often located in another country.
B) purchasing raw materials from one country to be used in a production process in another country.
C) purchasing finished products from another country.
D) a recreational activity involving locating the source of major rivers.

Question 19

Free trade means

A) all countries are permitted to engage in international trade.
B) There are no goods that are prohibited from entering the country.
C) There is no international trade embargo in place.
D) there are no tariffs, quotas or other barriers to international trade.

Question 20

In 1998 the International Monetary Fund extended a loan to the South Korean government on the condition that it engaged in extensive privatization. What is "privatization?"

A) the process of selling or giving away public property and enterprises to individuals.
B) the process of giving grants or tax breaks to private companies.
C) the process of expropriating private property for use by the government.
D) the process of allowing private citizens to participate in government.

Question 21

What was the Opium War?

A) a political war over the legalization of opium in New York in the 1920s.
B) a war between gangs and the police in San Francisco in the 1970s.
C) a war between England and China over the import of opium into China in the 19^th century.
D) a war between Hong Kong and China over the import of Chinese opium into Canada in the early 20^th century.

Question 22

The use of the internet is often cited as evidence of increased globalization. Approximately how many of the world's 6.6 billion people are internet users (as of 2005)?

A) 3 billion
B) 1.5 billion
C) 500 million
D) 500 thousand

Question 23

What is the International Monetary Fund (IMF)?

A) it is an agency of the US Government.
B) it is an international organization that oversees the global financial system.
C) it is a private foundation funded by contributions from transnational corporations.
D) it is a major international bank located in Switzerland.

Question 24

Over the past 30 years, globalization has led to

A) strong economic growth in almost all countries.
B) weak economic growth in almost all countries.
C) negative economic growth in almost all countries.
D) uneven economic growth with strong growth in some regions and weak growth in others.