FINALS

Question 1

In 1944, how many countries countersigned at the Bretton Woods Conference?

Answer 1

44

Question 2

What are the two international economic organizations that resulted from the Bretton Woods Conference?

Answer 2

International Monetary Fund and International Bank for Reconstruction and Development

Question 3

What became the primary global trade in 1947?

Answer 3

General Agreement on Tariffs and Trade (GATT)

Question 4

Bretton Woods Institutions are known to be _______ because of their central role in trade, development, and monetary relations.

Answer 4

(KIEO) Keystone International Economic Organization

Question 5

What is the old name of the World Bank?

Answer 5

International Bank for Reconstruction and Development

Question 6

What was the World Bank’s initial goal?

Answer 6

WW2 rebuilding in Europe

Question 7

The first loan from the World Bank was in 1947, what country was it?

Answer 7

France

Question 8

What was the major focus of the World Bank during the 1970s?

Answer 8

Agriculture

Question 9

What is the mission of the World Bank?

Answer 9

To end extreme poverty and promote shared prosperity

Question 10

What are the 5 organizations of the World Bank?

Answer 10

• IBRD
• IFC
• ISCID
• MIGA
• IDA

Question 11

Who are the top 5 biggest debtors?

Answer 11

• India
• Pakistan
• Bangladesh
• Indonesia
• China

Question 12

Philippines is 7th in the world’s biggest debtor? True or False

Answer 12

True

Question 13

What is an organization of 189 countries working to foster global monetary cooperation?

Answer 13

International Monetary Fund

Question 14

What is the IMF’s primary source of funds?

Answer 14

Quotas from member countries

Question 15

To promote global monetary cooperation and international financial stability is the IMF’s primary _______.

Answer 15

purpose

Question 16

What are the core functions of the IMF?

Answer 16

• Surveillance
• Lending
• Capacity Development

Question 17

What does the IMF do in terms of surveillance?

Answer 17

Oversee and monitor the economic condition of its member countries, including their monetary system and economic and financial policies

Question 18

What does the IMF do in terms of lending?

Answer 18

Provide financial support to nurture the economies of member countries with balance of payments problems

Question 19

What does the IMF do in terms of capacity development?

Answer 19

Give technical assistance and training to help countries build effective economic institutions for the implementation of the right policies

Question 20

What is the mission of the World Trade Organization?

Answer 20

To manage rules of international trade and ensure fairness through negotiation and trade dispute settlement

Question 21

What are the principles of trading under the WTO?

Answer 21

• Trading should be without discrimination
• MFN
• National treatment

Question 22

Fill in the blank: The principle of trading under WTO includes being more _______.

Answer 22

Competitive

Question 23

Any enterprise that undertakes foreign direct investment, owns or controls income-gathering assets in more than one country, produces goods or services outside its country of origin, or engages in international production is called a _______.

Answer 23

Transnational Corporation

Question 24

Transnational Corporations must be dispersed in at least _______ countries.

Answer 24

Two

Question 25

What are the basic characteristics of a Transnational Corporation?

Answer 25

* Engages in manufacturing, selling, buying, R&D outside from its origin * Management decisions based on regional or global alternatives

Question 26

What are the reasons for Transnational Corporations? (APA)

Answer 26

* Access to lower cost * Proximity to international market * Avoidance of tariffs

Question 27

What is the practice of obtaining goods and services from foreign suppliers?

Answer 27

Outsourcing

Question 28

What are the steps taken to transform raw materials into a finished product?

Answer 28

* Supplier * Procurement * Inventory * Manufacturing * Distribution * Customer

Question 29

What is a system wherein people live in a country with a firm border and government?

Answer 29

Nation or State

Question 30

What is a state?

Answer 30

Govern a territory with a boundary, having its own government and claim of sovereignty

Question 31

What defines a nation?

Answer 31

People with a common bond, such as language, culture, and historical identity

Question 32

Who coined the term 'imagined community' in relation to nations?

Answer 32

Benedict Anderson

Question 33

What connects states with one another in an environment?

Answer 33

Interstate system

Question 34

What was a milestone of the interstate system?

Answer 34

Peace of Westphalia – peace between Catholic and Protestant

Question 35

What are the two major shifts in balances of power mentioned?

Answer 35

* Strong states controlled Europe * Smaller states joined forces

Question 36

What emerged as a strong force leading to the unification of Germany and Italy?

Answer 36

Nationalism

Question 37

What describes the power centered between two countries?

Answer 37

Bipolar

Question 38

What describes the power centered in one super country?

Answer 38

Unipolar

Question 39

What describes the increased power in Asian and European states?

Answer 39

Multipolar

Question 40

What serves as the midwife of globalization?

Answer 40

State

Question 41

What do governments do in relation to globalization?

Answer 41

Do not conceive globalization but facilitate it

Question 42

What does the term 'internalization' mean in Latin?

Answer 42

Between nations

Question 43

What is the increasing importance of international trade related to?

Answer 43

Internalization

Question 44

True or False: A nation is the basic unit of international relations.

Answer 44

True

Question 45

What is globalization?

Answer 45

Global economic integration of many formerly national economies into one global economy, mainly by free trade and free capital mobility

Question 46

What is the difference between internalization and globalization?

Answer 46

* Internalization: views the world as a collection of nation-states * Globalization: views the world as a single planet where boundaries are insignificant

Question 47

What are the formal and informal arrangements that produce a degree of order and collective action above the state?

Answer 47

Global governance

Question 48

What are International Governmental Organizations?

Answer 48

Formed by states as they come together to establish a structure based on formal agreement

Question 49

What are International Non-Governmental Organizations (INGOs)?

Answer 49

Generally private, voluntary organizations formed by individuals or groups of people

Question 50

What is said to be the primary venue and formal agreement for global governance?

Answer 50

The United Nations

Question 51

When was the United Nations founded?

Answer 51

1945

Question 52

How many member states does the United Nations consist of?

Answer 52

194

Question 53

What was the purpose of the United Nations in relation to wars like WW2?

Answer 53

To avoid what wars like WW2