AnswersGA-GSE Personal Finance and EconomicsGlobalization

Globalization Answers

0 verified answers1 views
1
Free Preview

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

Question illustration
A
The foreign sector influences how services move between firms and households.
B
The foreign sector influences how imports and exports move between firms and households.
C
The foreign sector influences how factors of production move between firms and households.
D
The foreign sector influences how goods move between firms and households.
2
Free Preview

Gross domestic product tracks economic growth by measuring all goods and services

A
exported by an economy.
B
produced by an economy.
C
imported by an economy.
D
purchased by an economy.
3

Which is the best example of outsourcing?

A
A US shoe company opens a factory in China and hires Chinese workers to make shoes.
B
A US shoe company opens a factory in the US and hires US workers to make shoes.
C
A US shoe company opens a factory in the US and hires Chinese workers to make shoes.
D
A Chinese shoe company opens a factory in China and hires Chinese workers to make shoes.
4

Which technologies have made global communication instant and more effective? Choose three answers.

A
social media
B
wireless devices
C
smart phones
D
automobiles
E
printed newspapers
5

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

A
businesses.
B
consumers.
C
stock markets.
D
countries' currencies.
6

The map shows the world’s gross domestic product.Based on the map, which is the best conclusion that can be drawn about the economies of the US and Western Europe?

Question illustration
A
The US and Western Europe are strong because they have high GDPs.
B
The US and Western Europe are weak because they have low GDPs.
C
The US and Western Europe are strong because they have low GDPs.
D
The US and Western Europe are weak because they have high GDPs.
7

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.
8

Technologies that allow for instant worldwide communication include

A
high-speed trains and naval ships.
B
mobile phones and Internet access.
C
airplanes and container shipping.
D
outsourcing and new trade markets.
9

The business practice of hiring workers in another country is known as

A
globalization.
B
insourcing.
C
subcontracting.
D
outsourcing.
10

How have airplanes changed the way the world does business? Choose four answers.

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

Did you find these answers helpful?

More from this Course

Quiz
20 verified answers

Globalization

Quiz
19 verified answers

Globalization

Quiz
18 verified answers

Trade Barriers