1) Is functional integration between internationally dispersed activities which means that it is a qualitative transformation rather than a quantitative change a) Economic Globalization b) Ecomic Integration 2) is the extension of economic activities between internationally dispersed activities a) Internationalization b) Intergovernmentalism 3) is the production of goods or delivery of services that have the capability of entering into the international markets and have the standards that are globally accepted; expanding the business and entering into the market of different countries a) Internationalization b) Marketization 4) world system analysts identify the origin of modernity and globalization through long distance trade in the 16th century (e.g. Silk Road, started in western China, reached the boundaries of theParthian empire, and continued onwards towards Rome also connected Asia, Africa, and Europe) a) 16th century b) 17th-18th century 5) global economy exists only in trade and exchange rather than production as the world export to World GDP did not reach 1 to 2 percent a) 17th and 18th century b) 16th century 6) growth in international exchange of goods accelerated in the second quarter; global economy in the 19th and 20th centuries grew by an average of nearly 4 percent per annum, roughly twice as high as growth in the national incomes of the developed economies since the late 19th century a) 19th century b) 17th century c) 18th century d) 15th century 7) means an act or process of entering into, participating in, or introducing a free market economy (the way businesses operate and the methods used to produce goods and run services is driven by consumer demand rather than a central government (command economies). a) marketization b) Integration 8) (capitalist economies), there is no government control. a) free market b) free trade agreement 9) What does the movement of people and knowledge across international borders refer to? a) International Monetary Fund b) Internalization 10) officially known as the United Nations Monetary and Financial Conference) was a gathering of delegates from 44 nations that met from July 1 to 22, 1944 a) Bretton Woods Conference b) Gatss Agreement 11) is a set of proscribed rules, norms, and procedures that regulate the cross-border exchange of goods, services, and capital. a) International economic order b) International economic growth 12) A system that forms rules and standards to facilitate international trade (WTO) among nations a) International Monetary System b) International Service 13) is a system of backing a country’s currency with is a system of backing a country’s currency with its gold reserves. Such currencies are freely convertible into gold at a fixed price, and the country settles all its international trade transactions in gold. freely convertible into gold at a fixed price, and the country settles all its international trade transactions in gold. freely convertible into gold at a fixed price, and the country settles all its international trade transactions in gold. a) Gold Standard b) Golden Strait Jacket 14) Refers to a 30-year long process that began at the end of the 1960s as a form of monetary cooperation intended to reduce the excessive influence of the US dollar on domestic exchange rates, and led, through various attempts, to the creation of a Monetary Union and a common currency a) European monetary integration b) European Union 15) 1979 arrangement between several European countries which links their currencies in an attempt to  a) European monetary system b) European Integration 16) A permanent fund created by the European Union (EU) to provide emergency assistance to member  a) European financial stability mechanism  b) European Financial System 17) Created by the European Union to provide assistance to member states with unstable economies a) European Financial Stability Facility b) European Financial Stability 18) Exchange of goods, services and capital across national borders. It is a multi-million dollar activity, central to the Gross Domestic Product (GDP) of many countries a) International trade   b) Intergovermentalism 19) Regulations and agreement of foreign countries Regulations and agreement of foreign country  a) Trade policies b) Trade agreement

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