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International Politics, Chapter 16 Quiz

1. The liberal idea of creating a global economy based on free economic interchange and interdependence dates back to

a. ancient Roman times.

b. Adam Smith.

c. John Maynard Keynes.

d. the Bretton Woods system.

2. Countries in transition refers to states that are

a. in the process of development.

b. being considered for EDC status due to GDP increases.

c. moving from communism to capitalism.

d. moving from authoritarianism to democracy.

3. GATT

a. became obsolete with the formation of the WTO.

b. was formed by the WTO.

c. addresses a range of global economic issues.

d. is the treaty that created the WTO.

4. The IMF was established

a. in 1963.

b. at the end of World War I.

c. at Bretton Woods.

d. as a result of decolonization.

5. The most important organization for monetary cooperation is

a. the Bretton Woods system.

b. GATT.

c. the World Bank.

d. the IMF.

6. The South criticizes the International Monetary Fund for

a. making grants rather than loans.

b. providing development assistance rather than balance-of-payments relief.

c. being controlled by the North and being used by the North to dominate the South.

d. providing loans to less developed countries with an interest rate that is unfairly low.

7. The least integrated type of transnational economic activity is

a. monetary union.

b. economic union.

c. a free trade area.

d. a common market.

8. Economic regionalism

a. is not regulated by GATT.

b. may lead to greater protectionism.

c. will undoubtedly increase global trade.

d. will lessen American economic power.

9. Creating global labor standards is a related area of economic regulation.

a. True

b. False

10. The American business community was united in its support for the Uruguay Round agreement.

a. True

b. False