Unit 14 Globalization Quiz

Define "tariff"

• a tax on goods that are imported to a nation

• the prohibition of all trade with a nation

• penalties relating to economic activity used to effect a change in another nation's policies

Define "embargo"

• a tax on goods that are imported to a nation

• the prohibition of all trade with a nation

• penalties relating to economic activity used to effect a change in another nation's policies

Which type of nation is most likely to have an economy dependent on a primary sector good, such as oil or agriculture?

• developing nation

• developed nation

What characterizes a nation that is "developing"?

Which term represents the opposite economic policy of free trade policy?

• embargo

• protectionism

• globalism

In what way are North American Free Trade Agreement (NAFTA) and the European Union (EU) similar?

• Both promote free trade among member nations.

• The United States is a member of both organizations.

• Both use a common currency.

Which of the following has helped to increase, or accelerate of cultural diffusion among nations?

• the growth of megacities

• the implementation of high tariffs on trade

• the advancement of information technologies

What factor has helped motivate multinational corporations to operate in developing nations?

• low cost of labor

• reliable infrastructure

• high number of immigrants

What is one positive and one negative effect of migration and immigration in a global economy. Be sure to answer both parts of the question!