AnswersPHS Government CRThe Contemporary Global Economy

The Contemporary Global Economy Answers

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This table shows select US trading partners for 2015. According to the chart, with which countries did the US have a trade surplus in 2015? Check all that apply.JapanAustraliaBrazil GermanyRussia

Question illustration
A
Japan
B
Australia
C
Brazil
D
Germany
E
Russia
2
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Which US president signed NAFTA into law?

A
Ronald Reagan
B
Bill Clinton
C
George W. Bush
D
Barack Obama
3

Which are negative aspects of globalization? Check all that apply. a loss of regional jobsa loss of individual culturesa loss of social awarenessan increase in environmental problemsa rise in health risks

A
a loss of regional jobs
B
a loss of individual cultures
C
a loss of social awareness
D
an increase in environmental problems
E
a rise in health risks
4

Which method of transit has had the biggest impact on world trade in the twenty-first century?

A
railroads
B
canals
C
steam boats
D
container ships
5

How does international trade lead to specialization?

A
Countries become more dependent on each other for buying and selling manufactured goods.
B
Labor can be outsourced cheaply to other countries, which brings down production costs.
C
Countries can make the best use of resources by buying what they don’t have from other nations
D
Industries begin to compete to offer the best prices and increase demand.
6

How do consumers ALL benefit from international trade?

A
They profit from global outsourcing.
B
They can use social media to spread information.
C
They gain purchasing power parity.
D
They have access to greater purchasing options.
7

Which is the best definition of the term outsource?

A
an economic activity without major restrictions
B
the use of foreign resources instead of domestic resources
C
a hiring process by a company that does business in two or more nations
D
the trend toward a world that is more interconnected by technology, trade, and travel
8

This graph shows the US-Ghana trade relationship. Which statement best describes the trade relationship between the US and Ghana?

Question illustration
A
The US has a trade surplus with Ghana.
B
The US has a trade deficit with Ghana.
C
The US has greater purchasing power parity (PPP) than Ghana.
D
Ghana has greater purchasing power parity (PPP) than the US.

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