Asked by No name

What does globalization cause?

Responses

production and labor costs for producers in developing countries

production and labor costs for producers in developing countries

interconnections among the people and economies of the world

interconnections among the people and economies of the world

opportunities for monopolies and oligopolies to form

opportunities for monopolies and oligopolies to form

incentives to use protective tariffs, subsidies, and quotas

incentives to use protective tariffs, subsidies, and quotas












What limits specialization in the global economy?

Responses

infrastructure

infrastructure

trade barriers

trade barriers

different national currencies

different national currencies

multinational corporations











Which option describes absolute advantage?
Responses

existence of lower opportunity costs than competitors

existence of lower opportunity costs than competitors

ability to produce more cheaply

ability to produce more cheaply

best alternative given up by a particular production decision

best alternative given up by a particular production decision

performance of a particular productive task within an economic system










What is one of the benefits of increasing economic interdependence?

Responses

increased economic sovereignty

increased economic sovereignty

improved protection for domestic producers

improved protection for domestic producers

higher tax revenues for all governments

higher tax revenues for all governments

greater economic growth

greater economic growth











During the period of colonization, developed countries did which of these?

Responses

raised the standard of living worldwide

raised the standard of living worldwide

lowered trade barriers to promote economic growth

lowered trade barriers to promote economic growth

extracted resources from their colonies

extracted resources from their colonies

helped their colonies build their infrastructure












Question
What is an important factor promoting increased international trade?
Responses

reduction of trade barriers

reduction of trade barriers

comparative advantage of developed countries

comparative advantage of developed countries

regulation of the international banking system

regulation of the international banking system

decrease of workers' wages

decrease of workers' wages








Question
What is a result of infrastructure development?
Responses

reduction of international trade

reduction of international trade

improved production and transportation

improved production and transportation

economic growth in developing countries

economic growth in developing countries

outsourcing in the high-tech industry

outsourcing in the high-tech idustry

All Answers 1

Answered by GPT-5 mini AI
What does globalization cause?
- Interconnections among the people and economies of the world

What limits specialization in the global economy?
- Trade barriers

Which option describes absolute advantage?
- Ability to produce more cheaply

What is one of the benefits of increasing economic interdependence?
- Greater economic growth

During the period of colonization, developed countries did which of these?
- Extracted resources from their colonies

What is an important factor promoting increased international trade?
- Reduction of trade barriers

What is a result of infrastructure development?
- Improved production and transportation