Ampliación

What is meant by economic isolation?

• Economic isolation means a country is fully integrated into the global economy.

• Economic isolation is the practice of a country limiting its economic interactions with others.

• Economic isolation refers to a country's open trade policies

• Economic isolation is when a country increases its foreign investments.

What technological advancements contributed to the first wave of globalization?

Answer choices

• Internet and smartphone development

• Artificial intelligence breakthroughs

• Electric car innovations

• Steam engine and telegraph advancements.

In what ways does globalization impact the economy?

• Globalization eliminates job competition and interdependence.

• Globalization leads to isolation of economies.

• Globalization reduces trade and investment opportunities.

• Globalization impacts the economy by increasing trade.

How do international movements of goods and services affect national economies?

• International movements lead to job losses in all sectors.

• 
  

  They have no impact on trade balances.

• They only benefit large corporations and not local businesses.

• 
  
  International movements of goods and services can stimulate economic growth, create jobs, and affect trade balances in national economies.

Which countries were primarily responsible for driving the first wave of globalization?

Answer choices

• Spain, Portugal, the Netherlands, France, and England

• Brazil, Argentina, India, Australia, and Canada

• Italy, Germany, Japan, China, and Russia

• Sweden, Norway, Denmark, Finland, and Iceland

What is the zero-sum fallacy in trade?

• The zero-sum fallacy suggests that all trade is inherently harmful

• The zero-sum fallacy indicates that trade only benefits the wealthier party.

• 
  The zero-sum fallacy means that one party always loses in trade negotiations.

• The zero-sum fallacy in trade is the belief that trade benefits one party at the expense of another.

What criticism do opponents of globalization have regarding U.S. policies?

• 
  
  U.S. policies focus solely on environmental protection and sustainability.

• Globalization has no impact on local job markets in the U.S

• U.S. policies promote equal wealth distribution among all citizens.

• U.S. policies prioritize corporate interests, leading to job losses and increased inequality.

Set of economic practices and principles applied by the great European states between the 15th and 18th centuries:

What principle did David Ricardo develop to improve upon Adam Smith's theory?

Why do developing nations impose export tariffs?

• 
  

  To reduce the cost of imported goods.

• To encourage international competition among exporters.

• 
  
  To protect local industries and generate revenue.

• To increase foreign investment in local markets.