The Global Economy

Description: This quiz is designed to test your knowledge about the global economy, including topics such as international trade, economic growth, and global financial markets.
Number of Questions: 15
Created by:
Tags: economics globalization international trade
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Which country is the largest exporter of goods in the world?

  1. China

  2. United States

  3. Germany

  4. Japan


Correct Option: A
Explanation:

China is the largest exporter of goods in the world, accounting for over 14% of global exports in 2020.

What is the term used to describe the interconnectedness of the world's economies?

  1. Globalization

  2. Internationalization

  3. Interdependence

  4. Globalism


Correct Option: A
Explanation:

Globalization is the term used to describe the interconnectedness of the world's economies, as a result of increased trade, investment, and technology.

Which economic theory suggests that countries should specialize in producing goods and services in which they have a comparative advantage?

  1. Mercantilism

  2. Comparative advantage

  3. Absolute advantage

  4. Protectionism


Correct Option: B
Explanation:

The theory of comparative advantage suggests that countries should specialize in producing goods and services in which they have a comparative advantage, even if they have an absolute advantage in producing other goods.

What is the term used to describe the movement of goods and services across national borders?

  1. International trade

  2. Global trade

  3. Foreign trade

  4. Cross-border trade


Correct Option: A
Explanation:

International trade is the term used to describe the movement of goods and services across national borders.

Which international organization is responsible for regulating global trade?

  1. World Trade Organization (WTO)

  2. International Monetary Fund (IMF)

  3. World Bank

  4. United Nations (UN)


Correct Option: A
Explanation:

The World Trade Organization (WTO) is the international organization responsible for regulating global trade.

What is the term used to describe the movement of capital across national borders?

  1. International investment

  2. Foreign investment

  3. Cross-border investment

  4. Global investment


Correct Option: A
Explanation:

International investment is the term used to describe the movement of capital across national borders.

Which international organization is responsible for promoting international monetary cooperation and exchange rate stability?

  1. International Monetary Fund (IMF)

  2. World Bank

  3. World Trade Organization (WTO)

  4. United Nations (UN)


Correct Option: A
Explanation:

The International Monetary Fund (IMF) is the international organization responsible for promoting international monetary cooperation and exchange rate stability.

What is the term used to describe the movement of people across national borders?

  1. International migration

  2. Global migration

  3. Foreign migration

  4. Cross-border migration


Correct Option: A
Explanation:

International migration is the term used to describe the movement of people across national borders.

Which international organization is responsible for promoting international cooperation on labor issues?

  1. International Labour Organization (ILO)

  2. World Bank

  3. World Trade Organization (WTO)

  4. United Nations (UN)


Correct Option: A
Explanation:

The International Labour Organization (ILO) is the international organization responsible for promoting international cooperation on labor issues.

What is the term used to describe the movement of technology across national borders?

  1. International technology transfer

  2. Global technology transfer

  3. Foreign technology transfer

  4. Cross-border technology transfer


Correct Option: A
Explanation:

International technology transfer is the term used to describe the movement of technology across national borders.

Which international organization is responsible for promoting international cooperation on environmental issues?

  1. United Nations Environment Programme (UNEP)

  2. World Bank

  3. World Trade Organization (WTO)

  4. International Monetary Fund (IMF)


Correct Option: A
Explanation:

The United Nations Environment Programme (UNEP) is the international organization responsible for promoting international cooperation on environmental issues.

What is the term used to describe the movement of information across national borders?

  1. International information flow

  2. Global information flow

  3. Foreign information flow

  4. Cross-border information flow


Correct Option: A
Explanation:

International information flow is the term used to describe the movement of information across national borders.

Which international organization is responsible for promoting international cooperation on health issues?

  1. World Health Organization (WHO)

  2. World Bank

  3. World Trade Organization (WTO)

  4. International Monetary Fund (IMF)


Correct Option: A
Explanation:

The World Health Organization (WHO) is the international organization responsible for promoting international cooperation on health issues.

What is the term used to describe the movement of culture across national borders?

  1. International cultural exchange

  2. Global cultural exchange

  3. Foreign cultural exchange

  4. Cross-border cultural exchange


Correct Option: A
Explanation:

International cultural exchange is the term used to describe the movement of culture across national borders.

Which international organization is responsible for promoting international cooperation on education issues?

  1. United Nations Educational, Scientific and Cultural Organization (UNESCO)

  2. World Bank

  3. World Trade Organization (WTO)

  4. International Monetary Fund (IMF)


Correct Option: A
Explanation:

The United Nations Educational, Scientific and Cultural Organization (UNESCO) is the international organization responsible for promoting international cooperation on education issues.

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