GEC8- THE CONTEMPORARY WORLD

CHAPTER TEST

NAME_____________________
COURSE/BLOCK_______________
_______________1. The oldest known international trade route
and a network of pathway that spanned China to Middle East
and Europe.
_______________2.It refers to widespread international
movement of goods, capital, services, technology and
information .
_______________3. Under the____________ , the US dollar was
pegged to gold per ounce and other currencies were pegged to
the US dollar.
_______________4. A new form of economic thinking and
became the codified strategy of US treasury department, World
Bank and IMF
_______________5. A more open trade system that emerged in
1867. And its goal was to create a common system that would
allow for more efficient trade.
_______________6. Caused by the gold standard and was the
worst and longest recession ever experienced by the Western
world.
_______________7. A system of the active role of governments
in managing spending served as the anchor.
_______________8. Currencies whose value is determined by
their cost relative to other currencies.
________________9. British economist who believed that
economic crises occur not when a country does not have enough
money, but when money is not being spent and not moving.
________________10. Phenomenon in which a decline in
economic growth and employment (stagnation) takes place
alongside a sharp increase in prices (inflation).

________________11. A relatively modern phenomenon in

human history, and people did not always organize themselves
as countries.

________________12. It refers to a country and its government.

________________13. Agency in which the will of the people are
established, limited &defined.
________________14.A state’s policies and procedures are
independent of the interventions of other states.
________________15. No one can operate in a given national
territory by ignoring the state.
________________16. It the expansion and intensification of
social relations and consciousness in every countries
________________17. It is characterized by the increasing
integration of economies around the world through the
movement of goods, services, and capital across borders.
________________18. It is an economic system that emphasized
the importance of export rather than import.
________________19. It is considered as the first international
trade in the history.
________________20 He describe globalization as the expansion
and intensification of social relations and consciousness across
world time and world space.
________________21. Anthropologist that define globalization
as an multiple and intersecting dimensions of integration that
he calls “scapes”
________________22 He was the first thinker to reconcile
nationalism with liberal internationalism.

________________23It is a set of agreements signed in 1648 to

end the thirty years wars between the major continental powers
in Europe,
________________24The British philosopher who coined the
word “ Internationalism”.

________________25The Russian revolutionary who founded

the comintern to spread socialist revolution across the world.
________________26. Decline in economic growth and
employment takes place alongside a sharp increase in prices
________________27. A dominant economic policies from 1980-
2000s.
________________28. It is the last resort to prevent individual
countries from spiraling into credit crisis.
__________________29.It is responsible for funding postwar
reconstructions projects.
__________________30. He argues that the recovery of the
United States begin after leaving the gold standard.