Why does globalization sometimes cause job loss in developed nations?
answer
The movement of jobs to other countries can cause unemployment.
question
Two countries shown in the chart ranked higher in overall development than the United States did. The United States had a higher per capita GDP than these countries. What factors accounted for the higher rankings of these countries?
answer
Both countries had higher life expectancy; Iceland had higher school enrollment.
question
Which of the following is a negative externality of creating a hydroelectric dam on a major river?
answer
environmental impact
question
Comparative advantage is the ability to produce more of a given product using a given amount of resources.
answer
false
question
The country of Lilvania has a low per capita GDP, a low literacy rate, and a high infant mortality rate. What is Lilvania?
answer
a less developed country
question
Writer Thomas Friedman compared the new globalized economy to a race that competitors must run over and over again. What did he mean by this?
answer
To be competitive, companies must continue to be innovative.
question
If the population growth of less developed countries continues at its current rate, the population of these nations is expected to double in 40 years. What will be the mostly likely consequence of this rapid population growth?
answer
Standards of living will fall because the country cannot raise per capita GDP faster than the population rate is growing.
question
What is one result of increased interconnection among financial markets?
answer
Economic problems in one nation spread to other nations
question
Why is a high level of subsistence agriculture a characteristic of less developed countries?
answer
It means that there are fewer workers available to work in industrial jobs
question
Which of the following best summarizes the Russian economy between 1998 and 2007?
answer
Its economy was in crisis until the price of oil began to rise.
question
In 1999, India did not have shopping malls. It now has more than 100 malls. Which of the following explains this rapid development?
answer
The middle class is increasing demand for consumer goods.
question
Which statement describes both Nigeria and Venezuela?
answer
Both countries have rich supplies of a valuable natural resource.
question
Which issue has led to conflict between developing nations and environmentalists?
answer
deforestation
question
To alleviate negative externalities of deforestation and to secure economic growth, environmental scientists propose
answer
sustainable development
question
Why is it sometimes hard for LDCs to use their natural resources efficiently?
answer
LDCs cannot afford to buy technology to develop their resources.
question
Suppose you are the leader of a small country with a developing economy in Latin America. You want your country to have a greater voice in the global economy. What organization should you join?
answer
Group of 20
question
After World War II, the U.S. gave money to countries in Asia to help them rebuild. What is this an example of?
answer
foreign aid
question
Which of the following is not a benefit of foreign trade?
answer
*not* Specialization creates better products
*not* it allows each country to produce the goods for which they have the lowest opportunity cost.
question
After World War II, the U.S. government loaned and granted money to needy countries in Europe in the hopes of promoting democracy. This program was an example of
answer
foreign aid.
question
What is the Group of 20
answer
a group of finance ministers from growing countries, the United States, and the EU
Haven't found what you need?
Search for quizzes and test answers now
Quizzes.studymoose.com uses cookies. By continuing you agree to our cookie policy
