Question

1. How are globalization and specialization related?
a.) Globalization increases as specialization decreases
b.) Globalization only leads to specialization when countries have free-trade agreements
c.) Globalization makes specialization less cost-effective for nations with few people
d.) Globalization makes it possible for areas to specialize in certain goods and trade for other goods

Answer 1

2. Suppose that Country A specializes in making automobiles and Country B specializes in refining gasoline. What is the most likely result of this?
a.) The two countries will establish firm trade restrictions and limitations
b.) The two countries will engage in a great deal of trade
c.) People in Country B will not make enough money to buy cars from Country A
d.) Country A will lose most of its jobs to Country B

3. Which factor most determines the role of the United States in the global economy?
a.) The United States has the largest national gross domestic product in the world
b.) The United States engages in trade with Canada and Mexico
c.) The United States subsidizes farmers and other food producers
d.) The United States imports many consumer goods from goods from world’s second-largest economy

Answer 2

1 is C but im not sure about the others sorry