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SSP 3 QUIZ REVIEWER 🧚

SANA MAKAPASA TAYONG LAHAT 🀗

SSP 3 QUIZ REVIEWER 🧚
35問 • 1幎前SANA MAKAPASA TAYONG LAHAT 🀗
  • #100
  • 通報

    問題䞀芧

  • 1

    It involves the broadening and deepening of interdependence among people and states.

    GLOBALIZATION

  • 2

    It is a multidimensional phenomenon comprised of political, economic and cultural features. While state does not remain as the sole unit of analysis, non-sate actors such as international corporations play significant roles in the international economic processes.

    GLOBALIZATION

  • 3

    It is a process making the world economy an "organic system" by extending transnational economic processes and economic relations to more countries and by deepening the economic interdependencies among them.

    ECONOMIC GLOBALIZATION

  • 4

    THE POST-WORLD WAR II ECONOMIC SYSTEM THE BRETTON WOODS CONFERENCE On?

    JULY 1944

  • 5

    Delegates from 44 countries convened in Bretton Woods, New Hampshire, USA and agreed on the creation of two international organizations: ■ International Monetary Fund (IMF) ■World Bank

    THE BRETTON WOODS CONFERENCE (JULY 1944)

  • 6

    3d entity; Served as the primary global trade organization Was created to address the problems that occurred during the interwar period, trade protectionism and exchange controls which led to Great Depression and the World War II.

    General Agreement on Tariffs and Trade (GATT 1947)

  • 7

    Were Keystone International Economic Organizations (KEIOs) due to their central role in trade, development, and monetary relations.

    BRETTON WOODS INSTITUTION

  • 8

    In what year International Monetary Fund (IMF) Created?

    1945

  • 9

    Purpose Of International Monetary Fund

    to promote global monetary cooperation and international financial stability.

  • 10

    It was designed to prevent the trade wars occured during the interwar period due to competitive devaluations of states of their currencies.

    INTERNATIONAL MONETARY FUND

  • 11

    Role of International Monetary Fund

    To provide short-term loans to prevent devaluation and retain the state's fixed exchange rate

  • 12

    The country imports more goods, services & capital than it exports. • It must borrow from other countries to pay for its imports. • In the short-term, this fuels economic growth. • In the long-term, it will have to go into debt to pay for consumption.

    BALANCE OF PAYMENTS DEFICIT

  • 13

    The country exports more than it imports. Country provides enough capital to pay for all domestic production. •A surplus boosts economic growth in the short term. • In the long run, it becomes too dependent on export-driven growth.

    BALANCE OF PAYMENT SURPLUS

  • 14

    Global Financial Crisis (2007-2009) prompted the IMF to reform:

    IMF resource expansion to enhance capacity for financial crisis management, Increase quota and voting power of emerging economies within the institution

  • 15

    2010 reform structure

    Doubling of the IMF quota, Shifting quota shares, Preserved quota and voting shares of poorest member states

  • 16

    Critism of International Monetary Fund

    The status quo of power relations remain intact as the USA remains to vote shares constituting its veto power but not in the case of the BRIC countries as a bloc (Brazil, Russia, India & China), Dominated by the West; criticized for marginalizing the South and failing to include emerging economies in its decision-making.

  • 17

    Occcurs when a country spends more than it takes.

    BALANCE OF PAYMENT DEFICIT

  • 18

    An institution based on quotas which determine the maximum amount of financial resources that a state is obliged to provide to the fund. The quota of states reflects their relative position is the global economy and determines the voting power of states in

    INTERNATIONAL MONETARY FUND

  • 19

    Was created to grant long-term loans of the economic development of less developed countries and the reconstruction of war-torn countries in Europe.

    WORLD BANK

  • 20

    World Bank (2) institutions

    IBRD (International Bank for Reconstruction and Development) - provides lending to middle-income and credit-worthy low-income countries., IDA (International Development Association) - grants credits and loans to lowest-income countries

  • 21

    World Bank renewed role in the modern economy

    To reduce extreme poverty while addressing the imperfections of global capital markets

  • 22

    World Bank Critiques

    Severe macroeconomic distortions suffered by loan recipients and no statistical evidence of per capital growth improving from increased. structural adjustment lending., Programs have been accused of worsening the state of poverty and underdevelopment of recipient countries.

  • 23

    GATT's purpose

    To avoid trade wars by raising protectionist barriers (protectionism - economic policy restricting imports from other countries through methods such as tarrifs on imported goods, import quotas, and other gov'tal regulations)

  • 24

    GATT'S unable to

    address the expansion of trade in services, investment and intellectual property, Incapable of providing a strong and efficient system for dispute settlement

  • 25

    Is defined as a set of general rules, legal norms, instruments and institutions shaping payment conditions in foreign trade

    INTERNATIONAL MONETARY SYSTEM

  • 26

    Gold Standard

    adopted by England in 1816 the first international monetary system, Later joined by European countries and United States, functioned as a fixed exchange rate regime where countries determined the gold content of their national currencies which would define the fixed exchange rates

  • 27

    An adjustable-peg system that is also known as the dollar-gold standard or gold-exchange standard, with US dollar as the only convertible currency that is considered to be good as gold.

    BRETTON WOODS SYSTEM (1944)

  • 28

    Bretton Woods System (1944) only lasted?

    1959-1968

  • 29

    a prominent British economist, have been influential in shaping the economic policies of developed countries

    JOHN MAYNARD KEYNES

  • 30

    JOHN MAYNARD KEYNES

    He argued that market generated equilibrium results in unemployment which causes a decrease in demand., This is related in decrease in investment and production.

  • 31

    Promotes government spending on Infrastructure, unemployment benefits. and education to increase Argues that government spending is necessary to maintain full employment

    KEYNESIAN ECONOMICS

  • 32

    Promotes laser faire policy Argues that government should play a limited role and target companies, not consumers

    CLASSIC ECONOMICS

  • 33

    Grounded in the ideas of FRIEDRICH HAYEK and MILTON FRIEDMAN

    NEOLIBERALISM

  • 34

    Neoliberalism economic paradigm would expand through British later followed by emerging economies of East Asia and Southeast Asia

    Prime Minister Margaret Thatcher and US President Ronald Raegan

  • 35

    "Our inequality materializes our upper class, vulgarizes our middle class, brutalizes our lower class."

    MATTHEW ARNOLD

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    #100

    問題䞀芧

  • 1

    It involves the broadening and deepening of interdependence among people and states.

    GLOBALIZATION

  • 2

    It is a multidimensional phenomenon comprised of political, economic and cultural features. While state does not remain as the sole unit of analysis, non-sate actors such as international corporations play significant roles in the international economic processes.

    GLOBALIZATION

  • 3

    It is a process making the world economy an "organic system" by extending transnational economic processes and economic relations to more countries and by deepening the economic interdependencies among them.

    ECONOMIC GLOBALIZATION

  • 4

    THE POST-WORLD WAR II ECONOMIC SYSTEM THE BRETTON WOODS CONFERENCE On?

    JULY 1944

  • 5

    Delegates from 44 countries convened in Bretton Woods, New Hampshire, USA and agreed on the creation of two international organizations: ■ International Monetary Fund (IMF) ■World Bank

    THE BRETTON WOODS CONFERENCE (JULY 1944)

  • 6

    3d entity; Served as the primary global trade organization Was created to address the problems that occurred during the interwar period, trade protectionism and exchange controls which led to Great Depression and the World War II.

    General Agreement on Tariffs and Trade (GATT 1947)

  • 7

    Were Keystone International Economic Organizations (KEIOs) due to their central role in trade, development, and monetary relations.

    BRETTON WOODS INSTITUTION

  • 8

    In what year International Monetary Fund (IMF) Created?

    1945

  • 9

    Purpose Of International Monetary Fund

    to promote global monetary cooperation and international financial stability.

  • 10

    It was designed to prevent the trade wars occured during the interwar period due to competitive devaluations of states of their currencies.

    INTERNATIONAL MONETARY FUND

  • 11

    Role of International Monetary Fund

    To provide short-term loans to prevent devaluation and retain the state's fixed exchange rate

  • 12

    The country imports more goods, services & capital than it exports. • It must borrow from other countries to pay for its imports. • In the short-term, this fuels economic growth. • In the long-term, it will have to go into debt to pay for consumption.

    BALANCE OF PAYMENTS DEFICIT

  • 13

    The country exports more than it imports. Country provides enough capital to pay for all domestic production. •A surplus boosts economic growth in the short term. • In the long run, it becomes too dependent on export-driven growth.

    BALANCE OF PAYMENT SURPLUS

  • 14

    Global Financial Crisis (2007-2009) prompted the IMF to reform:

    IMF resource expansion to enhance capacity for financial crisis management, Increase quota and voting power of emerging economies within the institution

  • 15

    2010 reform structure

    Doubling of the IMF quota, Shifting quota shares, Preserved quota and voting shares of poorest member states

  • 16

    Critism of International Monetary Fund

    The status quo of power relations remain intact as the USA remains to vote shares constituting its veto power but not in the case of the BRIC countries as a bloc (Brazil, Russia, India & China), Dominated by the West; criticized for marginalizing the South and failing to include emerging economies in its decision-making.

  • 17

    Occcurs when a country spends more than it takes.

    BALANCE OF PAYMENT DEFICIT

  • 18

    An institution based on quotas which determine the maximum amount of financial resources that a state is obliged to provide to the fund. The quota of states reflects their relative position is the global economy and determines the voting power of states in

    INTERNATIONAL MONETARY FUND

  • 19

    Was created to grant long-term loans of the economic development of less developed countries and the reconstruction of war-torn countries in Europe.

    WORLD BANK

  • 20

    World Bank (2) institutions

    IBRD (International Bank for Reconstruction and Development) - provides lending to middle-income and credit-worthy low-income countries., IDA (International Development Association) - grants credits and loans to lowest-income countries

  • 21

    World Bank renewed role in the modern economy

    To reduce extreme poverty while addressing the imperfections of global capital markets

  • 22

    World Bank Critiques

    Severe macroeconomic distortions suffered by loan recipients and no statistical evidence of per capital growth improving from increased. structural adjustment lending., Programs have been accused of worsening the state of poverty and underdevelopment of recipient countries.

  • 23

    GATT's purpose

    To avoid trade wars by raising protectionist barriers (protectionism - economic policy restricting imports from other countries through methods such as tarrifs on imported goods, import quotas, and other gov'tal regulations)

  • 24

    GATT'S unable to

    address the expansion of trade in services, investment and intellectual property, Incapable of providing a strong and efficient system for dispute settlement

  • 25

    Is defined as a set of general rules, legal norms, instruments and institutions shaping payment conditions in foreign trade

    INTERNATIONAL MONETARY SYSTEM

  • 26

    Gold Standard

    adopted by England in 1816 the first international monetary system, Later joined by European countries and United States, functioned as a fixed exchange rate regime where countries determined the gold content of their national currencies which would define the fixed exchange rates

  • 27

    An adjustable-peg system that is also known as the dollar-gold standard or gold-exchange standard, with US dollar as the only convertible currency that is considered to be good as gold.

    BRETTON WOODS SYSTEM (1944)

  • 28

    Bretton Woods System (1944) only lasted?

    1959-1968

  • 29

    a prominent British economist, have been influential in shaping the economic policies of developed countries

    JOHN MAYNARD KEYNES

  • 30

    JOHN MAYNARD KEYNES

    He argued that market generated equilibrium results in unemployment which causes a decrease in demand., This is related in decrease in investment and production.

  • 31

    Promotes government spending on Infrastructure, unemployment benefits. and education to increase Argues that government spending is necessary to maintain full employment

    KEYNESIAN ECONOMICS

  • 32

    Promotes laser faire policy Argues that government should play a limited role and target companies, not consumers

    CLASSIC ECONOMICS

  • 33

    Grounded in the ideas of FRIEDRICH HAYEK and MILTON FRIEDMAN

    NEOLIBERALISM

  • 34

    Neoliberalism economic paradigm would expand through British later followed by emerging economies of East Asia and Southeast Asia

    Prime Minister Margaret Thatcher and US President Ronald Raegan

  • 35

    "Our inequality materializes our upper class, vulgarizes our middle class, brutalizes our lower class."

    MATTHEW ARNOLD