Deck 6: Globalization

Question 1

Manufactured items imported from developing countries equal more than 15 percent of the GDP of the industrially developed countries.

Answer 1

B

Question 2

In 2008, exports accounted for _________of the Gross Domestic Product of the USA

A) Less than 5 percent
B) Nearly 13 percent
C) 24 percent
D) More than 30 percent

Answer 2

B

Question 3

Because it has the world's cheapest labor, sub-Saharan Africa has received the largest share of foreign investment in labor-intensive industries

Answer 3

False

Question 4

The effects of globalization on domestic employment have significant parallels with the effects of

A) 20th century warfare
B) Technological advance
C) Economic recession
D) None of the above True/False Questions

Question 5

A fundamental economic justification for foreign trade is known as

A) Comparative advantage
B) Relative advantage
C) Relative compatibility
D) Marginal advantage

Question 6

Which of the following statements is not true?

A) Despite the advances made in transportation and communication technologies, geographic barriers are still obstacles to globalization.
B) Globalization expands the process of economic and cultural interactions among nations.
C) A fundamental element of globalization is the large-scale integration and interdependence of separate nation-states in the production and distribution of goods and services
D) Globalization has increased the number of available jobs in some foreign countries, but has had a catastrophic impact on American jobs

Question 7

Competition from low-wage countries has virtually wiped out some industries in the United States

Question 8

NAFTA stands for:

A) The New American Foreign Trade Association
B) The North American Federation of Trading Associates
C) The North American Free Trade Agreement
D) The New American Federal Tariff Agreement

Question 9

One reason for setting up overseas subsidiaries is to avoid the consequences of fluctuations in currency exchange rates

Question 10

An example of an NGO is the World Bank.

Question 11

Intermodal transportation allows the transportation of containers on many different types of carriers.

Question 12

Many studies make it abundantly clear that illegal immigrants take more from all levels of government than they pay in taxes.

Question 13

Globalization is synonymous with Westernization.

Question 14

Due to continued high birth rates, the American population is collectively getting younger.

Question 15

Maquiladoras mostly produce manufactured goods that bear the brand names of firms in their country of manufacture.

Question 16

A 19^th-century thinker who formulated some early insights into the dynamics of globalization was

A) Frederick W. Taylor
B) Auguste Comte
C) Abner Doubleday
D) Karl Marx

Question 17

An example of a multi-national corporation is

A) Wal-Mart
B) The United Fruit Company
C) Microsoft
D) The Hard Rock Café
E) All of the above
F) A and C only

Question 18

A key component of globalization is the rapid movement of information through electronic media.

Question 19

. The U.S. used braceros for agricultural labor during the 1960s..

Question 20

The 27 European nations which have joined together for cooperation on a variety of economic fronts are collectively known as

A) The Community of European Nations
B) The European Union
C) The United States of Europe
D) The Federation of European Communities

Question 21

What are some of the key components of globalization? To what extent is it a relatively recent phenomenon?

Question 22

Why should American demographic trends taken into account when discussing immigration policy?

Question 23

Describe the pros and cons of "guest worker programs."

Question 24

Note some of the benefits and drawbacks of investment by multinational companies in poor countries

Question 25

Why has immigration been an essential element of globalization?

Question 26

What are some of the key motivations for American, European, and Japanese firms when they set up oversea subsidiaries?

Question 27

On the whole, has foreign trade helped or hurt American workers? Give some specific examples when formulating your answer.