IT 304 Exam Study Guide 2026/2027: Verified Questions with Fully
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1. The demographic transition
Which 2 countries accounted for 50-60% of the World Economy in 1500 A.D.? -
Answer✔️India and China
Agrarian society - Answer✔️Society who's economy is based on producing and
maintaining crops (agriculture).
John Mynard Keynes proposed.... - Answer✔️A universal currency and countries
paying into something like the IMF
Industrial revolutions have a tendency to..... - Answer✔️Increase GDP per person
In the preinduistrial world, technologiucal advance produced _______, not wealth. -
Answer✔️people
Income per person _________ between 1310's and 1450's because of the plague. -
Answer✔️doubled
, 2
Despite the large income gap, people with lower incomes are _________ happy than
those with higher incomes. - Answer✔️only moderately less
Of all the voice-calling minutes used in the world in 2011, what percentage was
accounted for by cross-border phone calls? - Answer✔️2%
What percent of the world's population consists of first-generation immigrants? -
Answer✔️3%
Of all the investment that occurs in the world, what percentage is accounted for by
FDI (foreign direct investment)? - Answer✔️10%
By 2030, ____________ of world's population is expected to live in cities: -
Answer✔️2/3rd
Which of these is NOT one of the ten flatteners identified by Friedman: -
Answer✔️Inshoring
, 3
Who has characterized the world as "spiky"? - Answer✔️Richard Florida
In his talk, Khanna calls the confluence of connectivity and geography: -
Answer✔️Connectography
Both these scholars are concerned about urbanization's role in globalization: -
Answer✔️Florida and Khanna
Approximately, what percentage of US federal budget goes to foreign aid? -
Answer✔️1%
In 2015, which country announced the creation of the Asian Infrastructure
Investment Bank? - Answer✔️China
In 1995, the following company, that introduced the first Web browser, went public:
- Answer✔️Netscape
What does Friedman NOT mean by "The World is Flat"? - Answer✔️The earth's
shape has changed over the past century and become flatter