AnswersContemporary IssuesThe Modern Global Economy

The Modern Global Economy Answers

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1
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Which situation represents a business benefiting from global trade?

A
A company creates new regional jobs.
B
A company has new multinational consumers.
C
A company invests in several business ventures.
D
A company becomes more successful and self-reliant.
2
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Which statement explains an economic outcome of international trade?

A
Competition is erased within the global marketplace.
B
Imports and exports move around the world at a slower rate.
C
Countries become dependent on one another for certain goods.
D
Jobs are lost throughout developing nations and third-world countries.
3

Study the graph about trade between the US and Mexico.

Question illustration
A
The US has consistently imported more goods from Mexico than it has exported to it.
B
The US exports much more to Mexico than it imports from Mexico.
C
The US imported less goods from Mexico in 2015 than it did in 2000.
D
The US has consistently exported the same number of goods to Mexico as it imports.
4

Which situation is an example of a trade surplus?

A
Canada exports more than it imports.
B
Germany sends manufacturing jobs overseas.
C
France trades with other countries without many taxes.
D
China creates trillions of dollars’ worth of goods in one year.
5

What are the negative effects of globalization? Select three options.rise in health risksloss of regional jobsenvironmental harmloss of international jobsdecrease in cultural awareness

A
rise in health risks
B
loss of regional jobs
C
environmental harm
D
loss of international jobs
E
decrease in cultural awareness
6

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

A
interdependence
B
outsourcing
C
specialization
D
technology
7

Study the graph showing GDP in the US.

Question illustration
A
It remained level.
B
It declined steadily.
C
It wavered in growth.
D
It rose from a downturn.
8

How does international trade affect consumers?

A
They are denied entry-level jobs.
B
They have more purchasing options.
C
They have access to low-quality goods.
D
They are able to avoid paying sales taxes on imports.
9

Which situation is a negative effect of international trade?

A
competition for best prices
B
job loss due to outsourcing
C
decreased goods and services
D
specialization within countries
10

When calculating purchasing power parity, what is being compared?

A
money needed to buy an item in different currencies
B
the number of imports and exports within one country
C
prices on the market for all goods and services available
D
total goods and services produced between two nations
11

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

A
It was used by the public to organize political protests.
B
It was used as a platform to discuss new political campaigns.
C
It was used by the authorities to identify protesters in the uprising.
D
It was used to create a strong political bias against the elected officials.
12

What is a country measuring when it looks at the total value of goods and services produced within its economy within a given year?

A
trade deficits
B
trade surpluses
C
gross domestic product
D
purchasing power parity
13

How are businesses affected by globalization?

A
Quality employees become hard to find.
B
Companies are founded at a faster rate.
C
Profits decrease due to increased competition.
D
Goods are exchanged across the world at a rapid pace.
14

Which economic terms can be used to measure changes in the global economy? Select four options.

A
outsourcing
B
trade deficits
C
trade surpluses
D
gross domestic product
E
purchasing power parity

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