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Globalization — Unit test Answers

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21
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The graph shows US trade with China from 1990 to 2018.

Question illustration
A
The United States has a trade surplus with China.
B
China’s economy is declining, which has harmed trade.
C
The United States has a trade deficit with China.
D
China’s economy is improving, which has helped trade.
22
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Which form of transportation has led to more efficient business in a global market?

A
helicopters
B
high-speed trains
C
tractor trailers
D
cargo ships
23

Globalization is the process of

A
limiting exhange of goods and services.
B
connecting the world over time.
C
requiring or relying on something.
D
focusing on certain goods and services.
24

Which of these statements most accurately describes the use of currencies in different parts of the world?

A
Most countries use the dollar as their currency.
B
Countries in Asia use the euro as their currency.
C
Different countries use different currencies.
D
All countries are required to use the same currency.
25

Which form of transportation has led to more efficient business in a global market?

A
helicopters
B
high-speed trains
C
tractor trailers
D
cargo ships
26

Which best describes the effect negative incentives have on a certain course of action?

A
They make the action impossible.
B
They make the action more profitable.
C
They make the action difficult.
D
They make the action less likely.
27

If the value of the US dollar declines in relation to other currencies, goods imported into the United States will

A
not be allowed to enter the country.
B
become less expensive.
C
remain the same in price.
D
become more expensive.
28

If the value of the US dollar declines in relation to other currencies, goods imported into the United States will

A
not be allowed to enter the country.
B
become less expensive.
C
remain the same in price.
D
become more expensive.
29

A tariff is a type of

A
tax.
B
punishment.
C
subsidy.
D
grant.
30

An exchange rate table makes it easy to compare the

A
different currency denominations used by a single country.
B
cost to produce the currency used by a single country.
C
value of the currencies for two or more countries.
D
unemployment rates for two or more countries.
31

Which process helps countries import things they cannot make while allowing them to specialize in exports?

A
absolute advantage
B
isolation
C
competition
D
international trade
32

National Export InitiativeFTA Tariff ToolEuropean UnionAssociation of Southeast Asian Nations

A
National Export Initiative
B
FTA Tariff Tool
C
European Union
D
Association of Southeast Asian Nations
33

How did NAFTA affect the economies of participating countries?

A
by creating unrestricted trade benefits
B
by raising employment rates and standards of living
C
by creating a balance of exports and imports
D
by increasing the overall volume of production

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