B: Businesses can take advantage of favorable laws to make products cheaply.; B: Businesses can take advantage of favorable taxes to make products cheaply.; B: Businesses can take advantage of new forms of technology to make products cheaply.; B: Businesses can take advantage of faster technology to make products faster.

Answers NY-US History and Government Term 2 HillcrestGlobalization

Unit Test Answers

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A factory owner might decide to manufacture shirts in Pakistan instead of the United States because

it is less expensive to make shirts there.

it is worth paying more for foreign labor.

workers in Pakistan are more skilled.

workers in Pakistan work fewer hours.

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A reason that countries trade with each other is

to help their neighbors.

to get products they cannot produce.

to sell goods they do not need.

to share excess resources.

An economic incentive is best described as something that

benefits producers or consumers when taking action.

pushes producers or consumers to act on the government's behalf.

motivates producers or consumers to take action.

forces producers or consumers to act in a certain way.

What are standards designed to do? Check all that apply.protect consumerssupport domestic industrieslimit importsensure safetyoffer domestic industries an advantage

protect consumers

support domestic industries

limit imports

ensure safety

offer domestic industries an advantage

A tariff is a type of

tax.

punishment.

subsidy.

grant.

What is a benefit associated with free trade?

increased government revenue from tariffs

enhanced innovation and technology

limited market access for domestic industries

higher inflation due to import competition

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

The United States has a trade surplus with China.

China’s economy is declining, which has harmed trade.

The United States has a trade deficit with China.

China’s economy is improving, which has helped trade.

How did NAFTA affect the economies of participating countries?

by creating unrestricted trade benefits

by raising employment rates and standards of living

by creating a balance of exports and imports

by increasing the overall volume of production

What are standards designed to do? Check all that apply.protect consumerssupport domestic industrieslimit importsensure safetyoffer domestic industries an advantage

protect consumers

support domestic industries

limit imports

ensure safety

offer domestic industries an advantage

four

Businesses can take advantage of favorable laws to make products cheaply.

Businesses can take advantage of favorable taxes to make products cheaply.

Businesses can take advantage of new forms of technology to make products cheaply.

Businesses can take advantage of new forms of democracy to make products cheaply.

Businesses can take advantage of faster technology to make products faster.

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

The United States has a trade surplus with China.

China’s economy is declining, which has harmed trade.

The United States has a trade deficit with China.

China’s economy is improving, which has helped trade.

best

They make the action impossible.

They make the action more profitable.

They make the action difficult.

They make the action less likely.

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

helicopters

high-speed trains

tractor trailers

cargo ships

Globalization is the process of

limiting exhange of goods and services.

connecting the world over time.

requiring or relying on something.

focusing on certain goods and services.

What is a benefit associated with free trade?

increased government revenue from tariffs

enhanced innovation and technology

limited market access for domestic industries

higher inflation due to import competition

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

Most countries use the dollar as their currency.

Countries in Asia use the euro as their currency.

Different countries use different currencies.

All countries are required to use the same currency.

National Export InitiativeFTA Tariff ToolEuropean UnionAssociation of Southeast Asian Nations

National Export Initiative

FTA Tariff Tool

European Union

Association of Southeast Asian Nations

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

helicopters

high-speed trains

tractor trailers

cargo ships

Which describes the difference between a trade surplus and a trade deficit?

A trade surplus is when a country exports more than it imports, while a trade deficit happens when imports exceed exports.

A trade surplus is when a country imports more than it exports, while a trade deficit happens when exports exceed imports.

A trade surplus is when a country produces more than it consumes, while a trade deficit happens when consumption exceeds production.

A trade deficit is when a country loses money on products it makes, while a trade surplus happens when production leads to profits.

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

They make the action impossible.

They make the action more profitable.

They make the action difficult.

They make the action less likely.

best

benefits producers or consumers when taking action.

pushes producers or consumers to act on the government's behalf.

motivates producers or consumers to take action.

forces producers or consumers to act in a certain way.

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

not be allowed to enter the country.

become less expensive.

remain the same in price.

become more expensive.

The North American Free Trade Agreement created a free trade zone between Canada, the United States, and .

Answer not available

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

not be allowed to enter the country.

become less expensive.

remain the same in price.

become more expensive.

A tariff is a type of

tax.

punishment.

subsidy.

grant.

most

Most countries use the dollar as their currency.

Countries in Asia use the euro as their currency.

Different countries use different currencies.

All countries are required to use the same currency.

An exchange rate table makes it easy to compare the

different currency denominations used by a single country.

cost to produce the currency used by a single country.

value of the currencies for two or more countries.

unemployment rates for two or more countries.

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

absolute advantage

isolation

competition

international trade

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

absolute advantage

isolation

competition

international trade

National Export InitiativeFTA Tariff ToolEuropean UnionAssociation of Southeast Asian Nations

National Export Initiative

FTA Tariff Tool

European Union

Association of Southeast Asian Nations

A reason that countries trade with each other is

to help their neighbors.

to get products they cannot produce.

to sell goods they do not need.

to share excess resources.

How did NAFTA affect the economies of participating countries?

by creating unrestricted trade benefits

by raising employment rates and standards of living

by creating a balance of exports and imports

by increasing the overall volume of production

Globalization is the process of

limiting exhange of goods and services.

connecting the world over time.

requiring or relying on something.

focusing on certain goods and services.

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