AnswersPUSD SS DL0353 WrldHisCuGeo B P 5 Credit Course CRUnit Test

Economic Globalization Answers

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What are the purposes of international economic organizations? Select three answers.to resolve trade disputesto decrease regulation of product supply chainsto promote fair and successful tradeto solve the problems of various countriesto encourage trade in developing countries

A
to resolve trade disputes
B
to decrease regulation of product supply chains
C
to promote fair and successful trade
D
to solve the problems of various countries
E
to encourage trade in developing countries
2
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What is the primary purpose of the European Union?

A
to create a common currency
B
to allow more trade between countries
C
to encourage immigration from one country to another
D
to permit workers to seek employment in international areas
3

Which of the following causes the most problems in countries with low economic growth?

A
poor education
B
low unemployment
C
higher standard of living
D
rapid population increase
4

How did joining NAFTA affect the Mexican economy?

A
It had little effect on the economy.
B
It caused the economy to decline.
C
It stopped all economic downturns.
D
It helped improve the economy.
5

A multinational organization is defined as a business that

A
participates in all trade organizations.
B
operates in multiple countries.
C
is always not for profit.
D
only hires employees through outsourcing.
6

As economies grow, they demand more

A
financial assistance.
B
raw materials.
C
available labor.
D
defense services.
7

In countries such as China, globalization has led to

A
a small middle class.
B
a better standard of living.
C
a large population at the poverty level.
D
a trade agreement with other nations.
8

Trade blocs help countries by

A
limiting competition.
B
increasing barriers to trade.
C
improving product production.
D
allowing the pooling of resources.
9

The graph shows US Oil Import Prices from 1995 to 2010.What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?

Question illustration
A
a global recession
B
scarcity of petroleum
C
a large population growth
D
demand from developing countries
10

How can businesses best take advantage of globalization?

A
by increasing employment and production
B
by communicating with suppliers and buyers
C
by transporting resources from distant locations
D
by streamlining equipment to increase production
11

Globalization has led nations to join trade organizations in order to

A
be able to compete better.
B
regulate the supply of products.
C
respond better to global trends.
D
monitor the global economy.
12

The chart shows the percentage of population growth in different countries.Based on the chart and the information in the lesson, which nation can expect to experience the most social issues of a developing country?

Question illustration
A
Angola
B
Iraq
C
United Kingdom
D
United States
13

Which group is an example of a commodity organization?

A
European Union
B
World Trade Organization
C
North American Free Trade Agreement
D
Organization of Petroleum Exporting Countries
14

Globalization has the largest effect on

A
employment.
B
businesses.
C
economies.
D
transportation.
15

The graph below shows global trade and percentage of GDP.What conclusion should be drawn from the graph?

Question illustration
A
Trade has minimal impact on GDP.
B
Trade increased between 1980 and 1990.
C
Trade between nations declined between 1990 and 2000.
D
Trade increases create higher GDP percentage rates.
16

NAFTA can be defined as

A
a means to acquire convenient resources.
B
a unification treaty that limits trade barriers.
C
an agreement between bordering nations.
D
a way for corporations to more easily outsource labor.
17

The graph shows US trade with Mexico.In what years did US exports to Mexico remain approximately the same?

Question illustration
A
1990–1995
B
1995–2000
C
2000–2005
D
2005–2010
18

How has the Internet improved business communication worldwide? Select three options. It allows for instant communication.It enables people to monitor economic trends.It always provides reliable information.It ensures all messages are secure from hackers.It makes it possible to buy and sell instantly.

A
It allows for instant communication.
B
It enables people to monitor economic trends.
C
It always provides reliable information.
D
It ensures all messages are secure from hackers.
E
It makes it possible to buy and sell instantly.
19

Why do companies choose to outsource work?

A
to increase profits
B
to improve products
C
to cut transportation costs
D
to develop local resources

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