Globalization: 1900 to Today
How did the introduction of digital technology during the late 20th century impact global economic relations?
It caused many countries to revert back to traditional forms of economics.
It resulted in an immediate decline in physical currency usage globally.
It led to a decrease in labor force participation worldwide.
It accelerated globalization by facilitating instantaneous communication and transactions across borders.
What could have been a likely outcome if the Bretton Woods Conference never established the World Bank and International Monetary Fund?
Gold Standard would still be in use globally.
European countries wouldn't form the European Union.
Global post-war reconstruction would have been significantly more challenging.
The Great Depression would have lasted longer.
Which major Asian power actively participated in the global silver trade of the 16th to 18th centuries by exporting goods and importing silver as part of its isolative economic policy?
Tokugawa shogunate Japan which implemented the sakoku system while still engaging in substantial trade with selected foreign entities.
The Ottoman Empire which focused on controlling Mediterranean trade transit rather than engaging in Asian bullion markets.
Mughal India which took a stance against external commerce, preferring to maintain traditional barter-based economic systems.
Ming dynasty China which outright rejected foreign trade in favor of fully self-sufficient autarky.
What impact did Adam Smith's 'The Wealth of Nations' have on late-18th-century global economic structures?
It prompted direct government intervention in economies, resulting in widespread welfare state establishments.
It caused an instantaneous shift towards centralized planning within European nations, replacing market systems entirely.
It immediately ended colonial monopolies by convincing empires to adopt laissez-faire policies worldwide.
It provided ideological support for free-market capitalism, challenging mercantilist systems prevalent at that time.
In which region did silver from Spanish colonies primarily end up after being mined due to global trade networks?
East Africa
China
Silk Roads
Ottoman Empire
Which economic theory was a direct response to the conditions of industrial workers during the Industrial Revolution?
Mercantilism
Feudalism
Marxism
Capitalism
Which of these was a common criticism of industrial capitalism during this period?
It discouraged technological innovation
It undermined traditional family structures
It exploited workers for the benefit of a wealthy few
It led to widespread environmental conservation

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How did China's Open Door policy change its participation in the world economy during the late 20th century?
It decreased China's dependence on agriculture.
It led to an immediate political revolution toward democracy.
It increased foreign investment and integration into world markets.
It caused rampant inflation and currency instability within China.
If Japan had not adopted Sakoku (closed country) policy during the Edo period, how might its role in international affairs differ during the late nineteenth century?
Continual threats from Western powers could result in political fragmentation akin to China's warring states period preceding Qing consolidation.
Japan might have become an imperial power sooner through early adoption of Western military technologies and colonial practices.
More extensive Christian conversion efforts would likely lead to religious conflict disrupting Japanese feudal society internally severely.
Increased foreign influence within samurai culture fostering resistance movements against traditional feudal lords (Daimyo).
Which of the following was NOT a communist movement in the 20th century?
Marxism
Collectivization
5-Year Plans
Liberalism