Question 1

Did a loss of US hegemony cause the breakdown of the Bretton Woods system? Why or why not?

Accepted Answer

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Question 2

"Global sourcing" refers to

Accepted Answer

A)  the core and periphery in the international system. 
B)  the transfer of funds to the third world. 
C)  system-wide exploitation of workers' wages, benefits, and conditions. 
D)  obtaining goods and services across geopolitical boundaries.

Question 3

How have transborder products contributed to globalization?

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Question 4

Is the World Trade Organization an improvement over the GATT?

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Question 5

Which term best describes economic decision making in China?

Accepted Answer

A)  State capitalism 
B)  Iron Law of Wages 
C)  100 Flowers Blooming 
D)  New Economic Plan (NEP)

Question 6

The central demand of the Global South-led New International Economic Order (NIEO) was

Accepted Answer

A)  restructuring of the international order toward greater equity for developing countries. 
B)  an immediate end to colonization. 
C)  free market trade liberalization. 
D)  more robust democracy.

Question 7

Did the campaign for a "New International Economic Order" fail?

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Question 8

In 1995, the GATT became the

Accepted Answer

A)  G8. 
B)  New International Economic Order (NIEO). 
C)  World Trade Organization (WTO). 
D)  International Trade Court.

Question 9

More than _______ of FDI, credit card transactions, stock market capitalization, derivatives trade, and transborder loans flow within the North.

Accepted Answer

A)  three-quarters 
B)  two-thirds 
C)  90% 
D)  40%

Question 10

Investors and transnational corporations seek the _______, which includes cheap labor, fewer rules and regulations, low-cost commodities, and safe and stable areas in which to invest or build their production facilities.

Accepted Answer

A)  lowest common denominator 
B)  gross domestic product 
C)  greatest equal numerator 
D)  lowest marginal gains tax

Question 11

Provide an example of a regional development bank and briefly describe what it does.

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Question 12

Which of the following is one of the four aspects of globalization as outlined in the text?

Accepted Answer

A)  Economic nationalism 
B)  Pursuit of autarchy 
C)  Internalization 
D)  The reassertion of territoriality

Question 13

What can dependency theory tell us about international politics?

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Question 14

When did the Group of Eight (G8, at the time, comprising the United States, Japan, Germany, the United Kingdom, France, Italy, Canada, and Russia) first meet?

Accepted Answer

A)  1976 
B)  1985 
C)  1998 
D)  2008

Question 15

Two examples from the 1880s of globalized goods are

Accepted Answer

A)  Campbell Soup and Heinz. 
B)  IKEA and McDonald's. 
C)  Nescafé and Ford. 
D)  Dole and Heinz.

Question 16

Name the four factors of continuity as outlined in this chapter.

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Exam 8: Global Trade and Finance