AnswersTX-US History Studies Since 1877 B-Credit Recovery Summer SchoolUnit Test

America and the Global Economy Answers

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1
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International economic organizations try to help the global economy by

A
making it easier to communicate quickly.
B
managing competition between nations.
C
keeping peace between nations.
D
regulating consumer prices.
2
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A multinational corporation is a company that

A
exports products to more than one country.
B
imports resources from more than one country.
C
operates branches in more than one country.
D
has stockholders from more than one country.
3

What happened after bank lending slowed in the United States in the mid-2000s?

A
American housing prices began to drop.
B
US and global stock markets collapsed.
C
Homeowners could not pay mortgages.
D
The American auto industry collapsed.
4

What would most Americans see as a disadvantage of globalization?

A
Consumer goods cost less to buy.
B
Jobs move to cheaper labor markets.
C
Businesses import cheaper materials.
D
Overseas markets remove most tariffs.
5

The main idea of globalization is that

A
the economy of the United States dominates the rest of the world.
B
the economies of other countries dominate the United States.
C
the economies of the nations of the world are independent.
D
the economies of the nations of the world are closely linked.
6

The financial crisis of 2008 was initially caused by problems in the

A
US financial and housing markets.
B
US automotive and insurance markets.
C
global financial and housing markets.
D
global energy and transportation markets.
7

Which statement best summarizes the financial crisis of 2008?

A
Problems in the US economy caused the global economy to slow down, which made it harder for the United States to recover.
B
Problems in the global economy caused the US economy to slow down, which made it harder for the world to recover.
C
Problems in the US economy caused the global economy to slow down, but improvements in other countries helped the United States.
D
Problems in the global economy caused the US economy to slow down, but improvements in the US helped other countries.
8

Which international economic organization is made up of leaders from the world’s largest economies?

A
Group of 20
B
International Monetary Fund
C
World Bank
D
World Trade Organization
9

To receive a loan from the IMF, a country must

A
agree to make economic reforms.
B
join the Group of 20.
C
agree to develop certain industries.
D
join the World Bank.
10

What triggered the financial crisis of 2008 in the United States?

A
Global stock markets collapsed.
B
Global industrial production slowed.
C
American banks stopped making loans.
D
American housing prices dropped.
11

Which two auto companies received help from the US government during the crisis of 2008?

A
Ford and Toyota
B
Chrysler and Ford
C
GM and Chrysler
D
GM and Ford
12

What triggered the financial crisis of 2008 in the United States?

A
Global stock markets collapsed.
B
Global industrial production slowed.
C
American banks stopped making loans.
D
American housing prices dropped.
13

Improvements to transportation have

A
lowered the costs of shipping goods between countries.
B
reduced the number of tariffs on shipped products.
C
raised service fees on shipping goods between countries.
D
resulted in fewer safety regulations governing shipments.
14

Which international economic organization is made up of leaders from the world’s largest economies?

A
Group of 20
B
International Monetary Fund
C
World Bank
D
World Trade Organization
15

Poverty reduction is the main goal of the

A
Group of 20.
B
International Monetary Fund.
C
World Bank.
D
World Trade Organization.
16

A company with technical support staff in another country mostly benefits from changes to

A
regulations.
B
communications.
C
tariffs.
D
transportation.
17

A company with technical support staff in another country mostly benefits from changes to

A
regulations.
B
communications.
C
tariffs.
D
transportation.
18

Which statement best describes the relationship between United States and other countries in the global economy during the financial crisis of 2008?

A
A crisis in the United States spread to other countries because of a global housing industry.
B
A crisis in the United States spread to other countries because of a global financial industry.
C
A crisis in other countries spread to the United States because of a global automotive industry.
D
A crisis in other countries spread to the United States because of a global energy market.
19

The financial crisis of 2008 was initially caused by problems in the

A
US financial and housing markets.
B
US automotive and insurance markets.
C
global financial and housing markets.
D
global energy and transportation markets.
20

A multinational corporation is a company that

A
exports products to more than one country.
B
imports resources from more than one country.
C
operates branches in more than one country.
D
has stockholders from more than one country.

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