Economics Principles and Practices © 2012 Georgia

Chapter 18: Global Economic Challenges

Self-Check Quizzes

1
Firms that do business and have offices and factories in many countries are called _____.
A)multinationals
B)foreign affiliates
C)corporate alliances
D)immigration
2
Another term for "division of labor" is _____.
A)globalization
B)integration
C)nationalization
D)specialization
3
Which of the following is an example of resistance to globalization?
A)France limits the number of American movies that can be shown.
B)Wal-Mart opens stores in China and England.
C)American Spanish-language radio stations play music by Latin American artists.
D)Swiss-owned Nestle sells its products around the world.
4
Which of these is an effect of globalization?
A)wider variety of available products
B)more efficient use of resources
C)increased interdependence
D)all of these
5
How do economic incentives encourage population growth in developing countries?
A)Parents need children to support them in their old age.
B)Children are needed to work on farms.
C)The benefits of having many children outweigh the costs.
D)All of these are correct.
6
How do price incentives impact the market for gasoline?
A)A shortage of oil decreases the demand for solar power.
B)Raising fines for speeding increases the demand for oil.
C)Increasing oil prices increase the interest in alternative fuels.
D)Increasing demand for gasoline decreases the demand for alternative fuels.
7
The future of nuclear energy in the United States is uncertain for all the following reasons EXCEPT _____
A)nuclear reactors are expensive to build and maintain
B)nuclear energy produces highly hazardous byproducts
C)a nuclear accident like the one in Chernobyl may occur
D)energy cannot be distributed efficiently to other locations
8
An economy with limited government involvement is ______.
A)socialism
B)a modified free enterprise economy
C)capitalism
D)a cost-benefit analysis
9
Why does capitalism continue to be successful?
A)Capitalistic nations are more powerful and can impose their will on the rest of the world.
B)It is able to make huge changes in a short period of time.
C)There are very few nations that have refused to adopt laissez-faire capitalism.
D)It is able to adapt and evolve to meet the needs and demands of a changing world.
10
What is the first step in making a decision?
A)Identify the problem.
B)Identify possible alternatives.
C)Identify the goals that the alternatives should achieve.
D)Decide which alternative best satisfies the criteria.
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