AnswersFL-2109310-World History Sem 2 - FlexIndian Independence

Economic Globalization Answers

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1
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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
2
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Globalization has affected developed countries by

A
encouraging new products.
B
providing a solid consumer base.
C
turning their focus to providing services.
D
increasing employment for unskilled workers.
3

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.
4

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
5

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
6

How has the Internet improved business communication worldwide? Select three options.

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.
7

What are the purposes of international economic organizations? Select three answers.

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
8

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
9

Trade blocs help countries by

A
limiting competition.
B
increasing barriers to trade.
C
improving product production.
D
allowing the pooling of resources.
10

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.

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