Globalization Quiz

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?

The economy suffered a setback in 2009 before rebounding in 2010.

How have airplanes changed the way the world does business? Check all that apply.

by making long trips less expensive by making long trips in less time by opening up new trade markets by increasing travel options

Which technologies have made global communication instant and more effective? Check all that apply.

cell phones wireless devices smart phones

Globalization leads to more trade between

countries.

Purchasing power parity is used to compare the gross domestic product between

countries.

Technologies that allow for instant worldwide communication include

mobile phones and Internet access.

Global trade provides consumers with

more options and lower prices.

The business practice of hiring workers in another country is known as

outsourcing.

The images show the cost of the same bike in the United States and Britain. The concept shown in the images is known as

purchasing power parity.

The graph shows China's workforce from 2000 to 2019. Based on this graph, globalization has affected China's workforce by creating a shift toward specialization in

services and away from agriculture.

Recent improvements in ______________ have increased the pace of globalization.

technology

What are the most likely reasons a US corporation would open a factory in China? Check all that apply.

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

Which is the best example of outsourcing?

A US shoe company opens a factory in China and hires Chinese workers to make shoes.

How has globalization made countries more interdependent? Check all that apply.

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. Countries now rely on one another for chances to export.

Which statement best describes how globalization connects the world?

Globalization helps create new forms of transportation, communication, and technology.

One way to measure economic growth is by using GDP, which stands for ______________________.

Gross Domestic Product