1) The growing interdependence of the world’s economies, cultures, and populations, brought by cross-border trade in goods, services, technology, flows of investment, people, and information. a) Globalism b) Internationalization c) Globalization 2) In what century did global integration took off ? a) 19th century b) 20th century c) 17th century 3) The first “wave” of globalization was propelled by...? a) Steamships, railroads, the telegraph and economic cooperation b) Television, internet and computers c) Radio and emails 4) Globalization encourages each country to specialize in what it produces the least using a big amount of resources a) True b) False 5) What are the benefits of the comparative advantage ? a) It makes production more efficient, promotes economic growth, and lowers prices of goods and services  b) It makes production less efficient, prices of goods and services are higher 6) These are the effects of globalization... a) Reduction of military spending b) Better quality and variety, innovation and job churn c) Freedom for the media 7) What events caused globalization to crash ? a) Pearl Harbor, Korean War and the American Civil War b) Unification of China and the fall of the Roman Empire c) World War I, postwar protectionism, the Great Depression and World War II 8) What country led efforts to revive international trade and investment ? a) Russia b) United States c) France

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