The Modern Global Economy — Quiz

Question 1

Which aspect of international trade allows countries to improve their relationships?

Revolt · Accepted Answer

interdependence

Question 2

Which statement best explains why jobs may be outsourced?

Revolt · Accepted Answer

Labor is often found in other countries at cheaper costs.

Question 3

Which situations are aspects of free trade? Choose three correct answers.

Revolt · Accepted Answer

Few taxes are placed on goods and services.; There are no government barriers to trade.; Goods and services move freely between countries.

Question 4

How are businesses affected by globalization?

Revolt · Accepted Answer

Goods are exchanged across the world at a rapid pace.

Question 5

Which situation represents a business benefiting from global trade?

Revolt · Accepted Answer

A company has new multinational consumers.

Question 6

What are the negative effects of globalization? Choose three correct answers.

Revolt · Accepted Answer

rise in health risks; environmental harm; loss of regional jobs

Question 7

What was the greatest impact of social media on the revolution that followed the Iranian presidential election of 2009?

Revolt · Accepted Answer

It was used by the public to organize political protests.

Question 8

Which statement explains an economic outcome of international trade?

Revolt · Accepted Answer

Countries become dependent on one another for certain goods.

Question 9

How does international trade affect consumers?

Revolt · Accepted Answer

They have more purchasing options.

Question 10

Which situation is a negative effect of international trade?

Revolt · Accepted Answer

job loss due to outsourcing

The Modern Global Economy — Quiz Answers