AnswersGA-GSE Personal Finance and EconomicsGlobalization

Globalization Answers

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What are the most likely reasons a US corporation would open a factory in China? Choose four answers.to take advantage of affordable land pricesto take advantage of abundant resourcesto take advantage of lower labor coststo take advantage of favorable tax lawsto take advantage of US employment opportunities

A
to take advantage of affordable land prices
B
to take advantage of abundant resources
C
to take advantage of lower labor costs
D
to take advantage of favorable tax laws
E
to take advantage of US employment opportunities
2
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"technology"

Answer:

33190

3

The graph shows gross domestic product in the US private sector from 2009 to 2017.

Question illustration
T
The economy suffered a setback in 2009 before rebounding in 2011.
T
The economy suffered a setback in 2009 before rebounding in 2010.
T
The economy suffered a setback in 2009 and had not recovered by 2011.
T
The economy suffered setbacks in the years 2009, 2010, and 2011.
4

The chart shows a circular flow model describing the movement of goods and services.

Question illustration
T
The foreign sector influences how services move between firms and households.
T
The foreign sector influences how imports and exports move between firms and households.
T
The foreign sector influences how factors of production move between firms and households.
T
The foreign sector influences how goods move between firms and households.
5

four

b
by shipping raw materials to manufacture goods in other countries
b
by shortening travel time
b
by opening up new trade markets worldwide
b
by connecting business partners the fastest
b
by increasing options for travel destinations
6

Which statement best describes how globalization connects the world?

A
Globalization helps create new forms of transportation, communication, and technology.
B
Globalization helps expand old forms of transportation, communication, and technology.
C
Globalization helps mandate new forms of transportation, communication, and technology.
D
Globalization helps share old forms of transportation, communication, and technology.
7

The graph shows China’s workforce from 2000 to 2019.

Question illustration
A
agriculture and away from services.
B
services and away from agriculture.
C
industry and away from services.
D
agriculture, services, and industry.
8

Which technologies have made global communication instant and more effective? Choose three answers.social mediawireless devicessmart phonesautomobilesprinted newspapers

A
social media
B
wireless devices
C
smart phones
D
automobiles
E
printed newspapers
9

best

A
A US shoe company opens a factory in China and hires Chinese workers to make shoes.
A
A US shoe company opens a factory in the US and hires US workers to make shoes.
A
A US shoe company opens a factory in the US and hires Chinese workers to make shoes.
A
A Chinese shoe company opens a factory in China and hires Chinese workers to make shoes.
10

Purchasing power parity is used to compare the gross domestic product between

A
businesses.
B
consumers.
C
stock markets.
D
countries' currencies.

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