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Economics

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Lilliana Rogahn

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Cards in this guide (17)
A sentence for inflammatory

The candidate made an inflammatory speech that incensed all those who heard it.

Why does globalization lead to a reduction in wages in developed countries

Increased mobility allows producers to move jobs to lower-cost labor markets.

What does the World Bank hope will result from the loans it makes to developing countries

An improved climate for foreign investment

Why does reducing trade barriers promote increased international trade

Free trade leads to lower prices and greater sales.

What makes a credit card more convenient than a debit card

It can be used to buy things without immediate payment.

Why does globalization give countries an incentive to reduce wages for their workers

Lower production costs help lure foreign investment.

A boycott would not be successful under what circumstance

If most consumers didn't stay away from the company that was being protested against, a boycott would not be successful.

Rationing is an attempt to limit shortages that naturally result from what

Price ceiling

Under a fractional reserve banking system the amount of money loaned out can only increase if what happens

The required reserve ratio is lowered.

Which is not a policy tool used by the Fed

Making tax cuts

Economics is about the production of goods and services which requires the allocation of what

Resources

What is a socialist country in which the government owns health care and communications

The Socialist Republic of Vietnam.

Which of these describes the costs and benefits to taking a college loan

College loans help increase future earning power but result in a long-term commitment to monthly payments.

Does globalization cause poverty

Globalization does not cause poverty, on the other hand, globalization lifted many people out of poverty and created a solid middle class in many developing countries. India and China are example. Globalization may have caused financial hardship for many westerners since many jobs were shipped overseas because of cheap labor.

Why don't developing countries usally benefit from free trade policies

Many developing countries do not benefit from free trade policies, because their industries are to weak to compete in the international market.

What have been negative effects of globalization

Higher prices for consumers

Why do central banks play an important role in a global economy

they control the foreign currency reserves that are used for international trade

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