12 Questions
What does a slowdown in American spending imply?
Decrease in purchasing power
What does it mean when it is stated that more than 40% of Africans now live in urban areas?
Rural-urban migration
What does 'Emerging world' refer to in this context?
Growing economies
In the context of the article, what does 'KFC Looks to Conquer Africa with Fried Chicken' mean?
To open hundreds of restaurants in a dozen countries
What was President Trump's stance on international trade agreements during the 2016 presidential campaign?
Trade will be at the center of Trump's administration if elected
Which of the following is not an example of an international trade agreement?
United Nations World Tourism Organization
What was the main reason for the withdrawal from the Trans-Pacific Partnership?
Decline in economic and political influence in America
What is the main factor contributing to an increase in the U.S.’ Gross Domestic Product?
Increase in productivity
Which problem is NOT brought about by a retreat from a multilateral rules-based system of trade?
Trade surplus
What was the main intention behind the Depression-era Smoot-Hawley Tariff?
Protect local industries
Why do the imports of many staples from overseas increase the purchasing power of domestic households?
Lower cost of imported food products
Which factor did NOT contribute to the globalization that swept through Asia in the late nineteenth century?
The mass migration of Indian and Chinese workers
Study Notes
Trade and Economy
- A slowdown in American spending means a decrease in total income.
- More than 40% of Africans now live in urban areas, indicating a growing African middle class.
- Emerging world refers to growing economies.
- KFC's strategy to expand in Africa involves opening hundreds of restaurants in a dozen countries.
International Trade Agreements
- President Trump intended to renegotiate or withdraw from most of the United States' international trade agreements.
- Examples of international trade agreements include the Trans-Pacific Partnership, North American Free Trade Agreement, and General Agreement on Tariffs and Trade.
- The United Nation's World Tourism Organization is not an international trade agreement.
Trade and GDP
- An increase in the U.S.' Gross Domestic Products is attributed to an increase in productivity.
- A retreat from a multilateral rules-based system of trade can lead to trade wars, trade sanctions, and trade counter-sanctions.
- Depression-era Smoot-Hawley Tariff, which raised tariffs on hundreds of imports, was intended to protect local industries.
Globalization and Immigration
- Beginning in the late nineteenth century, globalization swept through Asia due to the decline of shipping fares and the replacement of sailing vessels with steamships.
- The mass migration of Indian and Chinese workers were principally from labor-abundant areas such as Bombay, Madras, Kwangtung, and Fukien.
- Immigration to Southeast Asia was largely in response to growing demand for workers and rapidly expanding demand in core industrial countries for Southeast Asian exports.
Markets and Human Rights
- Markets are integrated if adjustment mechanisms operate to correct deviations from a wage differential or "gap".
- The commissioner for human rights suggested that Duterte needs a psychiatric examination due to his war on drugs and human rights abuses.
This quiz includes multiple-choice questions from TCWD 111 Preliminary Examination, Part 1 for Week 1. Questions cover topics such as American spending, urbanization in Africa, and the concept of the emerging world.
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