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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 led nations to join trade organizations in order to

A
be able to compete better.
B
regulate the supply of products.
C
respond better to global trends.
D
monitor the global economy.
3

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.
4

Trade blocs help countries by

A
limiting competition.
B
increasing barriers to trade.
C
improving product production.
D
allowing the pooling of resources.
5

Which group is an example of a commodity organization?

A
European Union
B
World Trade Organization
C
North American Free Trade Agreement
D
Organization of Petroleum Exporting Countries
6

As economies grow, they demand more

A
financial assistance.
B
raw materials.
C
available labor.
D
defense services.
7

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
8

The graph shows US trade with Mexico.In what years did US exports to Mexico remain approximately the same?

Question illustration
A
1990–1995
B
1995–2000
C
2000–2005
D
2005–2010
9

The chart shows the percentage of population growth in different countries.Based on the chart and the information in the lesson, which nation can expect to experience the most social issues of a developing country?

Question illustration
A
Angola
B
Iraq
C
United Kingdom
D
United States
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.
11

A multinational organization is defined as a business that

A
participates in all trade organizations.
B
operates in multiple countries.
C
is always not for profit.
D
only hires employees through outsourcing.
12

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.
13

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
14

In countries such as China, globalization has led to

A
a small middle class.
B
a better standard of living.
C
a large population at the poverty level.
D
a trade agreement with other nations.
15

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
16

In countries such as China, globalization has led to

A
a small middle class.
B
a better standard of living.
C
a large population at the poverty level.
D
a trade agreement with other nations.
17

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
18

The graph shows US trade with Mexico.In what years did US exports to Mexico remain approximately the same?

Question illustration
A
1990–1995
B
1995–2000
C
2000–2005
D
2005–2010

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