Globalization

How has globalization made countries more interdependent? Check all that apply. a. Countries now rely on one another for vital resources. b. Countries now rely on each other for new industries. c. Countries now rely on one another for chances to import. d. Countries now rely on one another for an employment base. e. Countries rely on each other for cheaper products. f. Countries now rely on one another for chances to export.

How have airplanes changed the way the world does business? Check all that apply. a. by making long trips less expensive b. by making long trips in less time c. by opening up new trade markets d. by increasing hiring opportunities e. by increasing travel options

The images show the cost of the same bike in the United States and Britain. The concept shown in the images is known as a. purchasing power parity. b. exchange rates. c. factors of production. d. gross domestic product.

The business practice of hiring workers in another country is known as a. globalization. b. insourcing. c. subcontracting. d. outsourcing.

The graph shows gross domestic product in the US private sector from 2009 to 2017. Based on the graph, what conclusion can be drawn about the US economy? a. The economy suffered a setback in 2009 before rebounding in 2011. b. The economy suffered a setback in 2009 before rebounding in 2010. c. The economy suffered a setback in 2009 and had not recovered by 2011. d. The economy suffered setbacks in the years 2009, 2010, and 2011.

Which is the best example of outsourcing? a. A US shoe company opens a factory in China and hires Chinese workers to make shoes. b. A US shoe company opens a factory in the US and hires US workers to make shoes. c. A US shoe company opens a factory in the US and hires Chinese workers to make shoes. d. A Chinese shoe company opens a factory in China and hires Chinese workers to make shoes.

Purchasing power parity is used to compare the gross domestic product between a. businesses. b. consumers. c. stock markets. d. countries.

Gross domestic product tracks economic growth by measuring all goods and services a. exported by an economy. b. produced by an economy. c. imported by an economy. d. purchased by an economy.

Global trade provides consumers with a. more options and lower prices. b. fewer options and lower prices. c. more options and higher prices. d. fewer options and higher prices.

Globalization leads to more trade between a. consumers. b. businesses. c. factories. d. countries.