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Science
Economics
Economic Globalization
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Economic Globalization
Zeke Evans
25 July 2022
4.7
(114 reviews)
16 test answers
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(12)
question
Economic interdependence means that every country has an interest in global economic
answer
Growth
question
As economies grow, they demand more
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raw materials.
question
Globalization has affected developed countries by
answer
turning their focus to providing services.
question
What are the purposes of international economic organizations? Select all that apply.
answer
to resolve trade disputes to observe global economics to encourage trade in developing countries
question
Globalization has led groups of nations to join _____organizations.
answer
trade
question
The graph shows US Oil Import Prices from 1995 to 2010. What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?
answer
A global recession
question
NAFTA can be defined as
answer
an agreement between bordering nations.
question
Which group is an example of a commodity organization?
answer
Organization of Petroleum Exporting Countries
question
A multinational organization is defined as a business that
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operates in multiple countries.
question
The graph below shows global trade and percentage of GDP. What conclusion should be drawn from the graph?
answer
Trade increases create higher GDP percentage rates.
question
In countries such as China, globalization has led to
answer
a better standard of living.
question
How can businesses best take advantage of globalization?
answer
by increasing employment and production
question
Which of the following causes the most problems in countries with low economic growth?
answer
higher standard of living
question
The graph shows US trade with Mexico. In what years did US exports to Mexico remain approximately the same?
answer
2000-2005
question
Why do companies choose to outsource work?
answer
to increase profits
question
What is the primary purpose of the European Union?
answer
to allow more trade between countries
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