25 Questions
What is the term used by economists to describe the phenomenon where technology favors skilled workers over unskilled workers?
Skill-based technological change
In modernized economies, jobs are increasingly based on:
Technology
What does the widening gap between the rich and the poor result from in modern economies?
Skill-based technological change
What is an outcome of the movement of manufacturing jobs that require low skills overseas?
Widening gap between high-skilled and low-skilled workers
Why are the terms 'First World' and 'Third World' considered outdated and inaccurate when referring to countries?
Due to their historical context during the Cold War
Which economic event led Western policymakers to conceptualize the world as three distinct blocs?
Cold War
What is the main implication of skill-based technological change on the labor market?
More opportunities for skilled workers
Which region did Muslim traders dominate in trade by the early 9th century?
Mediterranean and Indian Ocean
In the medieval era, what became the main focus of international trade?
Spices
During the Age of Discovery, which European explorers accidentally discovered the Americas?
Portuguese, Spanish, Dutch, English
What era saw the beginning of truly global trade?
Age of Discovery
Which fields contributed to European exploration during the Age of Discovery?
Astronomy, mechanics, physics, shipping
What did the original Belt (sea route) and Road (Silk Road) connect during the Middle Ages?
East and West
What latitude does the Silk Road traditionally follow?
30° North
Which region is not typically included in the Silk Road's path?
Australia
In what way did countries in Asia manage to leapfrog older Internet technology according to the text?
By developing new Internet infrastructure
What theory looks at the historical colonial relations between North and South when explaining development disparities?
Dependency theory
Which continent is mentioned as experiencing soaring Internet use and broadband access compared to others?
Asia
What is one reason cited for the ability of many Asian countries to get more people online?
Booming economies
What was the primary impact of Magellan's circumnavigation?
Opening the door to the Spice islands and bypassing Arab and Italian middlemen
Why do economists hesitate to label the era of exploration as one of true globalization?
The resulting global economy was siloed and lopsided, dominated by European empires
What characterized the European empires' colonial model during the Age of Discovery?
Mercantilist and exploitative, including involvement in the slave trade
In what way did the first wave of globalization differ from the era of exploration?
It saw Great Britain dominating the world both geographically and technologically
Which statement best describes the global economy during the Age of Discovery?
Siloed and lopsided, with European empires setting up global supply chains primarily with their colonies
What key factor contributed to the reduction in spice prices following Magellan's circumnavigation?
Direct access to Spice islands, eliminating Arab and Italian middlemen
Test your knowledge about the latitude that passes through various regions of the world at approximately 30° North, and its relation to the global digital and technological divide. Explore how Internet use and broadband access are distributed across different parts of the world.
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