Reference no: EM133235931
Question 1.
Which agreement did the United States contest as an "unfair trading practice" at the World Trade Organization (WTO) that resulted in allowing U.S. companies to steal Jamaica's banana market?
The World Trade Agreement
The Atlantic Trade Agreement
The North American Free Trade Agreement
The Lome Agreement
Question 2.
The three things that make up a strong economy are high levels or productivity, having the most advanced technology, and having a specialized economy.
True
False
Question 3.
The three major stages we discussed, in order, of Rostow's stages of economic development are:
Hunter/gatherer à Agriculture à Manufacturing/Industry
Obtain raw materials à Innovation/machinery à Manufacturing/Industry
Agriculture à Manufacturing/Industry à Services
Manufacturing/Industry à Retail/Warehousing à Services
Question 4.
As seen in the PBS documentary Commanding Heights, the U.S. government's quick response in bailing out Thailand during their economic crisis saved the U.S. market from crashing.
True
False
Question 5.
FDR's "New Deal" marked the first time that
U.S. Companies were allowed to hire private "Pinkerton" armies to settle labor disputes
Neoliberal policies were enacted in the U.S.
The U.S. Government got involved in the market
Supranational Organizations got involved in the market
Question 6.
"Fordism" is a concept by Henry Ford that implies that
Companies should pay employees high enough wages that they can purchase company products
Companies should get higher tax breaks
The U.S. should move toward an automobile dependent society
Having to pay employees time and a half for over 40 hours will put employers out of business
Question 7.
The term "Classical liberalism" refers to
Government protecting industries through providing subsides
A time of a completely 100% free market with no government regulation
The original 1776 Democratic Party in the U.S.
A time when companies were completely free from paying taxes
Question 8.
The International Division of Labor refers to when colonial powers forced their colonies to specialize in mainly one good
True
False
Question 9.
Economic Development is only measured as growth monetarily (in money/dollars).
True
False
Question 10.
The New International Division of Labor refers to when colonial powers forced their colonies to specialize in mainly one good.
True
False
Question 11.
According to PBS's Commanding Heights documentary, "Contagion" was
The first economic crisis of globalization
A city built in Thailand that no one ever moved into
A virus in Asian chickens that made its way to global meat markets
The integration of many Asian countries into the global market for the first time
Question 12.
According to PBS's Commanding Heights documentary, the biggest trade in the world is in
Electronics
Software/technology services
Agricultural products
Currencies
Question 13.
According to PBS's Commanding Heights documentary, the capital funds fueling the global market come from
Cheap labor
The U.S. Mint
Pension funds
Venture capitalists
Question 14.
Public Sector money typically comes from taxes while Private Sector money typically comes from profits.
True
False