BA 1320: Sample questions for Test 2

Globalization is connected to which of the following basic principles?

a. The division of labour

b. the extent of the market

A significant feature of globalization has been

a. An increase in the number of consumers

b. An increase in the number of producers

Which of the following is true?

a. Globalization has only benefits and no costs

b. Globalization has only costs and no benefits

c. Globalization has both benefits and costs 

d. Globalization has neither benefits nor costs

Globalization has made job security 

b. Less secure

Which of the following is true? 

a. The history of global (international) trade may be described in terms of distinct technological developments

b. Prior to the modern period there was international trade between Europe and Asia for silk and spices

c. The volume of global trade is accelerating

Which of the following is associated with globalization during the industrial revolutions, globalization 2.0?

a. Steam power

b. Canals

c. Railroads 

Which of the following is associated with globalization during the digital age G 3.0?

a. The internet

b. Containerization

c. Artificial intelligence

Which category of income earners has gained the least from globalization?

a. The middle class

An import tariff

b. Benefits producers less than consumers lose

Tariffs are not routinely opposed by consumers because

a. Consumers are dispersed and lose a little per person from the tariff

b. Producers are concentrated and gain a lot person from the tariff

Migration is primarily

a. An economic decision

The increase in migration accompanying globalization has been most pronounced for

b. International migration

Theory and data suggest that immigration 

c. Is beneficial for both immigrants and most people in the destination economy

Immigration increases the

a. supply of labor

b. demand for labor

Which of the following is offered as a reason for restricting immigration?

a. immigrants are violent and dangerous

b. immigrants receive welfare payments they do not pay for

c. immigrants reduce wages

IMF conditionality refers to the…

c. Changes a country must make in order to receive IMF financial assistance 

The primary mission of the World Bank today is to

a. Fight extreme poverty 

The primary role of the World Trade Organization (WTO) is to:

b. Regulate and facilitate international trade by ensuring that trade flows as smoothly, predictably, and freely as possible.