The Global Economy — Test Answers

25 verified answers1 views
1
Free Preview

Technologies that allow for instant worldwide communication include

A
high-speed trains and naval ships.
B
outsourcing and new trade markets.
C
airplanes and container shipping.
D
mobile phones and Internet access.
3

Which of these is a positive incentive for domestic producers?

A
a tariff on clothes
B
a subsidy on imported cars
C
a tariff on cars
D
a subsidy on domestic oranges
4

An outline for an informative essay should

A
use effective language.
B
include all relevant details.
C
use smooth transitions.
D
state the main topics.
5

What type of economic growth do most developed economies experience?

A
unpredictable growth
B
moderate growth
C
slow growth
D
rapid growth
6

Which statement describes an effective outline for an informative essay?

A
An effective outline cites all reference sources the writer will use for the essay.
B
An effective outline organizes the content into an introduction, body, and conclusion.
C
An effective outline states whether reference sources are credible or biased.
D
An effective outline restates all the evidence for the essay in a concise manner.
7

International trade organizations promote free trade by encouraging countries to

A
develop their products.
B
limit their protectionism policies.
C
establish their trade quotas.
D
maintain their tariffs.
8

What is the most common reason why countries create trade agreements?

A
to decrease trade
B
to establish quotas
C
to create free trade
D
to limit imports
10

Tariffs and subsidies are both types of

A
economic benefits for the international producer.
B
positive and negative incentives.
C
monetary restrictions for the domestic producer.
D
economic benefits for the consumer.
11

Trade agreements are helpful because they allow countries to

A
help create new trade barriers.
B
influence foreign trade.
C
increase trade tax revenue.
D
trade for necessary goods.
12

Why do countries provide financial incentives?

A
Financial incentives set standards.
B
Financial incentives restrict all trade.
C
Financial incentives limit imports.
D
Financial incentives act as trade barriers.
13

Who decides which currency each country in the world uses?

A
the United States
B
each individual country
C
the United Nations
D
the European Union
14

Which statement best describes how globalization connects the world?

A
Globalization helps share old forms of transportation, communication, and technology.
B
Globalization helps expand old forms of transportation, communication, and technology.
C
Globalization helps create new forms of transportation, communication, and technology.
D
Globalization helps mandate new forms of transportation, communication, and technology.
15

Which statement best describes how globalization connects the world?

A
Globalization helps share old 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 create new forms of transportation, communication, and technology.
16

There would be no separation between one country’s economy and another’s if the entire world

A
shared the same currency.
B
eliminated denominations for currency.
C
chose paper currency over coins.
D
agreed to use only two types of currency.
17

The purpose of an outline for an informative essay is to

A
include strong paragraphs.
B
use effective language.
C
explain the essay’s structure.
D
cite research materials.
18

Which statements best explain how globalization offers an advantage to businesses? Choose four correct answers.

A
Businesses can take advantage of new forms of technology to make products cheaply.
B
Businesses can take advantage of favorable laws to make products cheaply.
C
Businesses can take advantage of faster technology to make products faster.
D
Businesses can take advantage of favorable taxes to make products cheaply.
E
Businesses can take advantage of new forms of democracy to make products cheaply.
20

Which of these statements most accurately describes currencies in North America?

A
North American countries have done away with separate currencies.
B
All countries in North America use the euro.
C
All countries in North America use the US dollar.
D
Each country in North America uses its own currency.

Did you find these answers helpful?