Globalization and Economic Impact Quiz

What does the “elephant graph” show?

• The effect of globalization on GDP growth of different countries.

• The effect of globalization on international trade.

• The effect of globalization on total global economic output.

• The effect of globalization on income growth for people of various incomes.

What has happened to the 1.1 billion people on the “back” and “head” of the elephant graph?

• They have become more impoverished.

• They have seen little change in their livelihood.

• They have been lifted out of extreme poverty.

• They have gained incomes equivalent to wealthy 1st world countries.

Nation's that are at the tail end of the elephant graph typically have what type of economic system? Explain your answer.

What is the primary reason people in the top of the “trunk” of the elephant have seen the most benefits under globalization?

• They have access to the best education.

• They work for the best companies.

• They live in the wealthiest countries.

• They can take advantage of global markets.

Why have the working and middle class in rich countries seen little to no growth?

• Outsourcing & Automation.

• Immigration & International Conflict.

• Automation & Immigration.

The United States number one export is

America's top three export destinations are Canada, _____________________________, and China.

What is the primary reason for little to no improvement in the lives of individuals at the trunk of the elephant in developed nations?

• corporate greed

• outsourcing jobs

• technology

• inflation

What nations have a comparative advantage over the United States in oil production

• China

• Brazil

• Saudi Arabia

• Russia

• None of the above

The United States has a comparative advantage in ________ production.