Purchasing power parity is used to compare the gross domestic product between
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countries.
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How has globalization made countries more interdependent? Check all that apply.
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- Countries now rely on one another for vital resources.
- Countries now rely on each other for new industries.
- Countries now rely on one another for chances to import.
- Countries rely on each other for cheaper products.
- One way to measure economic growth is by using GDP, which stands for Countries now rely on one another for chances to export.
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One way to measure economic growth is by using GDP, which stands for
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Gross Domestic Product
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The business practice of hiring workers in another country is known as
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outsourcing.
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The chart shows a circular flow model describing the movement of goods and services.
How does globalization cause the foreign sector to influence the economy?
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The foreign sector influences how imports and exports move between firms and households.
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Global trade provides consumers with
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more options and lower prices.
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Technologies that allow for instant worldwide communication include
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mobile phones and Internet access.
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How have airplanes changed the way the world does business? Check all that apply.
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- by making long trips less expensive
- by making long trips in less time
- by opening up new trade markets
- by increasing travel options
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What are the most likely reasons a US corporation would open a factory in China? Check all that apply.
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- to take advantage of affordable land prices
- to take advantage of abundant resources
- to take advantage of lower labor costs
- to take advantage of favorable tax laws
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The graph shows China's workforce from 2000 to 2010.
Which best describes the effect of globalization on China's economy?
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China is shifting toward specialization in industry and services and away from agriculture.
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Recent improvements in ___________ have increased the pace of globalization.
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technology
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Gross domestic product tracks economic growth by measuring all goods and services
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produced by an economy.
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Which statement best describes how globalization connects the world?
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Globalization helps create new forms of transportation, communication, and technology.
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The map shows the world's gross domestic product.
Based on the map, which is the best conclusion that can be drawn about the economies of the US and China?
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The US and China are strong because they have a high gross domestic product.
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The images show the cost of the same bike in the United States and Britain.
The concept shown in the images is known as
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purchasing power parity.
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The graph shows households with Internet access from 2003 to 2013.
How has Internet access changed and affected globalization from 2003 to 2013?
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A thirty percent increase in Internet access has sped up globalization.
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