I. Multiple Choice: Choose the letter of the best answer and write it on the space provided. [1 pt.

]
_____ 1. Global experiences of every person around the world is a contributor to _______________.
a. Interdependence b. Globalism c. Globalization d. None of the choice
_____ 2. Global experience is something that is really happening, and it is affecting everyone in _____.
a. different ways b. mysterious way c. the same way d. All of the choices
_____ 3. Because of globalization the world is __________.
a. deteriorating b. expanding c. shrinking d. All of the choices
_____ 4. The group of people that resists globalization.
a. Capitalist b. Communist c. Nationalist d. All of the above
_____ 5. Globalization is commonly associated only with ________ due to people’s desire for wealth.
a. culture b. economics c. politics d. technology
_____ 6. According to Manfred Steger globalization is the ____________________ of social relations and
consciousness across world-time and world-space.
I. expansion II. intensification III. synchronization IV. liberation
a. I, II, III, and IV b. I, II, and III c. I and II d. I only
_____ 7. When there is an increase in movement of goods, services, and intellectual property, it is
considered as __________ globalization.
a. cultural b. economic c. political d. technological
_____ 8. Refers to globalization that spread ideas and cultural memes throughout the world, regardless of
political divides.
a. cultural b. economic c. political d. technological
_____ 9. Refers to the formation of international governing bodies.
a. cultural b. economic c. political d. technological
_____ 10. Which statement is true?
a. Globalism only shows disadvantages of globalization.
b. Globalization is beneficial at all times.
c. Globalization is composed of only 1 factor that summarizes all intersecting dimensions.
d. Globalization must be seen at different lenses and perspective to understand its significance.

II. Analogy: The analogies below are word problems that consist of two word pairs. Look at the first pair
and decide how the two words relate to each other. Then provide a word/s so the second pair of words
will have the same relationship. Choose the letter of your answer and write it on the space provided. [2
pts.]
_____ 1. IMF : International Monetary Fund :: GATT: _______________
a. General Agreement on Tourism and Trade c. General Agreement on Tariff and Trade
b. Government Agreement on Trade and Tariff d. Government Agreement on Tourism and Trade
_____ 2. Past : Gold Standard :: Present : _______________
a. Barter b. Fiat Currency c. Galleon Trade d. Tariff
_____ 3. Silk Road : East :: Galleon Trade : _______________
I. East II. North III. South IV. West
a. I and II b. I and III c. I and IV d. I only
_____ 4. Mercantilism : Consumerism :: Neoliberalism : _______________
a. Keynesianism b. Laisez-Faire c. Communism d. Socialism
_____ 5. Gold Standard : Gold :: Fiat Currency : _______________
a. Supply and Demand b. Precious Metals c. Resources d. International Currency
_____ 6. GATT : Global Economic Integration :: Neoliberalism : _______________
a. Communism b. Socialism c. Free Markets d. Command System
_____ 7. Reduce on tariff : _______________ :: Increase on tariff : Mercantilism
a. Neoliberalism b. Galleon trade c. Silk road d. Bretton Woods
_____ 8. World bank : Postwar reconstruction :: IMF : _______________
a. Stability of Monetary System b. Credit Crises c. Government Assistance d. All of the choices
_____ 9. Even Economic Process : Global Economic Growth :: Uneven Economic Process : ___________
a. Government Weaken environmental laws c. More OFWs
b. Race to bottom d. All of the choices
_____ 10. Past : _______________ :: Present : Global Economy
a. Local Economy b. International Economy c. Global Market d. Market Integration
III. Elimination: Choose the letter of word that does not belong to the group by identifying their
relationship according to global economy and globalization. [1 pt.]
_____ 1. a. Social Relations b. World-time c. Globalism d. World-space
_____ 2. a. Technology b. Crops c. Movies d. Tradition
_____ 3. a. Consumerism b. Nationalism c. Capitalism d. Mercantilism
_____ 4. a. World Bank b. IMF c. Keynesianism d. Mercantilism
_____ 5. a. Mercantilism b. Neoliberalism c. GATT d. Laisez-Faire