Global Economy

As a result of globalization, there is more interdependence among countries.

• TRUE

• FALSE

Apple, Nike, and Toyota are examples of __________.

• market economies

• trade barriers

• multinational corporations

The __________ provides loans for large projects in countries that need them, but might not otherwise be able to pay for them.

• Salvation Army

• World Health Organization

• World Bank

A tax that must be paid on imported items

• quota

• tariff

• embargo

Why would a country impose a tariff or quota on imported goods?

• to raise the price of imported goods and encourage people to buy local

• to raise the price of imported goods to help other countries make more money

The process in which countries are linked to one another through culture and trade is called globalization.

• TRUE

• FALSE

Sending goods to another country to sell.

• import

• export

Which organization is responsible for regulating international trade?

• World Trade Organization (WTO)

• International Monetary Fund (IMF)

• World Health Organization (WHO)

• United Nations (UN)

What is the primary goal of the International Monetary Fund (IMF)?

• To promote international trade

• To provide financial assistance to countries in need

• To regulate global health issues

• To enforce international law

Which of the following is a characteristic of a developed economy?

• High literacy rates

• Low GDP per capita

• High levels of poverty

• Limited access to technology