Quiz 1. History Of Globalization

Front 1

During the 19th century, most countries inserted themselves into the world economy by

Back 1

Specializing in a few export products or commodoties

Front 2

Early industrial development in England was driven by

Back 2

Domestic market transformations and protection from foreign competition

Front 3

According to the theory of "Comparitive Advantage"

Back 3

All nations potentially benefit from trade

Front 4

Jeffrey Frieden argues that colonialism

Back 4

Impeded colonies economic integration with the rest of the world

Front 5

In the PBS Online Debates, Moises Naim argues that globalization has

Back 5

Empowered criminals, smugglers, and terrorists while weakening governements

Front 6

Which aspect of American Law granted corporations status as a "legal person"

Back 6

Teh 14th Amendment

Front 7

Which of the folowwing in NOT a valid explanation for GB relative decline as an industrial power

Back 7

High rates of protection in that nation stifled competition

Front 8

The innovations in the 19th century oceanic transportation and communication (steamships, technologies, submarine, telegraph, Suez Canal) led to

Back 8

Mass trade in basic commodities

Front 9

In the PBS Online debate between graduate students and Harvard, they reached a consensus that

Back 9

Globalization must be managed in some way

Front 10

What is a metaphor(image)Thomas Friedman uses to describe modern globalization

Back 10

The world is flat

Front 11

Portfolio investment describes

Back 11

The ownership of securities such as stocks and bonds

Front 12

which of the following nations was NOT a major recipient of British foreign investment or capital exports in the late 19th centruy

Back 12

China

Front 13

The Gold Standard system

Back 13

A) Decreased the risks of international trade and investment
B) Had negative consequences for nations which specialized in one or two primary commodity exports

Both A & B

Front 14

Jeffrey Freiden argues that the main factor in holding back economic development in poor societies was

Back 14

Misrule by a nations leaders, wither imperialists or local

Front 15

Which of the following was NOT a factor in the eroision of British hegemony, or supremecy, in the late 19th centruy and early 10th centuries

Back 15

Decolonization

Front 16

Which of the following was NOT a key factor in the shift from mercantilism to free trade

Back 16

Petroleum-fueled industry

Front 17

Almost every nation that moved toward autarky and authoritarianism in the 1930's was

Back 17

An international debtor

Front 18

The Suez Canal, completed in 1869, was excavated in which nation?

Back 18

Egypt

Front 19

The effects of the international telegraph on international commerce included all the following EXCEPT

Back 19

It gave the greatest advantage to American companies, who controlled most telegraph lines

Front 20

Which nation was the key to enforcing the operation of the gold standard in the decades prior to 1914

Back 20

Great Britain

Front 21

Whcih aspect of the Americna law granted corporations status as a "legal person"

Back 21

the 14th Amendment

Front 22

An externality is

Back 22

A cost or benefit from a business tranasction to the third party

Front 23

Perhaps the most dramtic global economic transformation between 1914 and 1919 was

Back 23

The United States transition from being the world's largest debtor to becoming its largest lender

Front 24

What were the two most important sources of income for the English East India Company

Back 24

Taxes and Opium

Front 25

What is the metaphor (image) Thomas Friedman uses to describe the modern globalization

Back 25

The world is flat

Front 26

Which of the following was an essential form of economic adjustment nations on the gold standard often had to make in order to stay on the gold standard

Back 26

Drastic wage reductions for workers

Front 27

The first global economy existed during...

Back 27

1850-1914

Front 28

Inernational trading companies (i.e.English East India Comapny, Dutch East India Comapny, Hudson Bay Company) during the 1600-1800 period owed the overseas success largely to

Back 28

Their government chartered monopoly trading rights

Front 29

During 1873-1896, the price of goods that entered into world trade

Back 29

Declined dramatically

Front 30

In the United states, which groups were the most vocal critics of the gold standard

Back 30

Farming and mining interests

Front 31

Under the gold dollar standard system

Back 31

Nations fixed the value of their currencies in terms of gold

Front 32

European economic recovery after WW1 was threatened most seriously by

Back 32

The burden of war debts and reperations

Front 33

The repeal of the Corn laws took place in which decade

Back 33

1840's

Front 34

Which of the following is NOT and an argument advanced by Bernard Cassin in "To Save Society"

Back 34

The globalization of trade reduces inequalities around the world

Front 35

According to Martin Wolf ("Why is Hatred of the Market", opponents of globalization are motivated by

Back 35

1) Hatred of markets
2) A fear of foreigners
3) Concernd about wages, jobs, and economic activity
4) All of the above

Front 36

Under the MFN principle, if nation A agrees to lower tarrifs on certain goods imported from nation B

Back 36

The reduction applies equally to the same goods imported from all other trading partners of nation A

Front 37

According to Jeffrey Fieden, U.S. policies of menetary deflation and liquidation in the 1930's

Back 37

Only worsened economic decline and did nothing to alleviate unemployment

Front 38

According to Daniel Litvin, all of the following drove the East India Company into greater involovment in Indian politics EXCEPT

Back 38

The French government's colonial takeover of India

Front 39

The populist program in the 1890's United States demanded, first and foremost

Back 39

That the United States go off the gold standard

Front 40

In the years 1896-1912, American trade policy was dominated by

Back 40

Protectionist

Front 41

The beginning of the industrial revolution can be traced to which industry

Back 41

Cotton textiles