Question 1

Whats defention of terms:
-free trade

Accepted Answer

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

Accepted Answer

the process of growing interdependence among countries

Question 3

Whats defention of terms:
-privatization

Accepted Answer

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?

Accepted Answer

The answer of Explain the mechanisms of global trade, investment,...

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.

Accepted Answer

The answer of Explain the mechanisms of global trade, investment,...

Question 6

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

Accepted Answer

The answer of Discuss the positive aspects of globalization.
-How do...

Question 7

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

Accepted Answer

The answer of Discuss the positive aspects of globalization.
-What are...

Question 8

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

Accepted Answer

The answer of Discuss the positive aspects of globalization.
-What enabled...

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.

Accepted Answer

The answer of Discuss the negative aspects of globalization.
-Examine the...

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.

Accepted Answer

The conservative viewpoint typically emphasizes the benefits of free markets and the efficient allocation of resources, suggesting that allowing financial capital to move freely across borders will ensure it is used where it can generate the highest returns, thus being put to the most productive use.

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.

Accepted Answer

The progressive position on the global movement of financial capital is that the rapid movement of financial capital into and out of a country can be destabilizing to the country's economy. This is because it can lead to volatile exchange rates, asset bubbles, and financial crises. Progressives advocate for measures to regulate and control the flow of capital to prevent these negative effects.

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.

Accepted Answer

Globalization has contributed to the increase in the growth rate of the GDP of the global economy by facilitating trade, investment, and economic integration.

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.

Accepted Answer

Progressives often argue that globalization has not benefited everyone equally, pointing out issues such as income inequality. The decrease in the growth rate of GDP per capita since 1970 can be seen as an indicator of this, as it suggests that the average person may not be seeing the benefits of globalization in their income or standard of living.

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

Accepted Answer

According to the Credit Suisse Global Wealth Report 2021, the total global wealth of individuals in all countries is estimated to be $456.2 trillion. Therefore, the closest option is C, $125 trillion.

Question 15

The world's richest 1% of households own ____________of the world's wealth
A) 1%
B) 20%
C) 40%
D) 60%

Accepted Answer

The world's richest 1% of households own approximately 40% of the world's wealth. This significant concentration of wealth highlights the substantial inequality in global wealth distribution.

Question 16

The poorest 50% of the world's population own ____________of the world's wealth
A) 1%
B) 15%
C) 30%
D) 50%

Accepted Answer

The poorest 50% of the world's population own only 1% of the world's wealth.

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

Accepted Answer

Greenhouse gases trap heat in the Earth's atmosphere, contributing to global warming. Carbon dioxide is one of the primary greenhouse gases emitted by human activities. The other choices are not greenhouse gases, nor are they significant contributors to global warming.

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.

Accepted Answer

Outsourcing refers to the practice of turning over part of a production process to an outside supplier, often located in another country. This can include tasks such as manufacturing, customer service, or information technology services.

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.

Accepted Answer

Free trade refers to a system where there are no barriers to international trade, such as tariffs, quotas, or other restrictions. This allows for the free flow of goods and services between countries, promoting economic growth and efficiency.

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.

Accepted Answer

Privatization is the process of selling or giving away public property and enterprises to individuals. This involves transferring ownership of state-owned assets, resources, or functions to private entities, such as corporations or investors. It is often seen as a way to improve economic efficiency, reduce government spending, and stimulate competition in the market.

Quiz 54: Debate on Globalization

Whats defention of terms: -free trade

Whats defention of terms: -globalization

Whats defention of terms: -privatization

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?

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.

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

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

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

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.

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

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

Conservatives point to the positive aspects of globalization including

Progressives point to the negative aspects of globalization including

The wealth of individuals in all countries has been estimated at

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

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

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

The term, "outsourcing" means

Free trade means

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?"