Globalization: Export Jobs and Wage Concessions Quiz

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What is a potential consequence of not accepting wage concessions in export industries?

Increasing productivity and boosting local economy

Losing competitiveness and exporting jobs abroad (correct)

Attracting more foreign investment and increasing wages

Stabilizing job market and reducing unemployment rates

How does unfettered capital movements impact workers in terms of competitiveness?

Enhances their competitiveness by increasing domestic production

Makes them less competitive by building state-of-the-art factories abroad

Reduces their competitiveness by maintaining low interest rates

Improves their competitiveness by providing access to foreign investment (correct)

Why are service and white-collar jobs increasingly vulnerable to being sent overseas?

To boost productivity in domestic markets

To minimize wage costs in low-wage countries (correct)

To increase job opportunities for local workers

To reduce unemployment rates in developing countries

In what way do jobs in export industries differ from jobs in import-competing industries?

Export jobs pay about 15% more than import jobs Signup and view all the answers

How do state-of-the-art factories in low-wage countries impact global competitiveness?

Make them as productive as those in developed countries Signup and view all the answers

What do globalization skeptics argue about economic activities?

They are still national in origin and scope Signup and view all the answers

According to Wallerstein, what drives global integration mostly?

Economic forces Signup and view all the answers

What do globalization modifiers argue about the idea of globalization?

It is historically vague and imprecise Signup and view all the answers

What is one of the advantages of globalization mentioned in the text?

Faster productivity increases Signup and view all the answers

What is a disadvantage of globalization mentioned in the text?

Fear of job loss among workers Signup and view all the answers

How does an open economy impact innovation according to the text?

Promotes technological development Signup and view all the answers

What is globalization primarily characterized by?

Close connections and interdependence in various aspects Signup and view all the answers

How is globalization perceived by some individuals?

As a form of capitalist expansion integrating local and national economies into a global market Signup and view all the answers

Which of the following best describes globalization?

Interaction and integration among people, companies, and governments worldwide Signup and view all the answers

What does globalization involve in terms of industrial and service activities?

Geographic dispersion and cross-border networking of companies Signup and view all the answers

What aspect of globalization leads to a more interconnected world?

Advances in transportation and communication systems Signup and view all the answers

How is globalization different from isolationism?

Globalization promotes connections and interdependence; isolationism advocates for separation Signup and view all the answers

What does globalization entail according to the text?

Increased integration of product and resource markets across nations Signup and view all the answers

What is a key aspect of globalization?

Greater interdependence among countries and their citizens Signup and view all the answers

How does globalization impact geographic distance according to the text?

Reduces the importance of geographic distance Signup and view all the answers

What does Thomas Friedman's perspective on globalization emphasize?

Enhanced global interaction and connectivity Signup and view all the answers

In the context of globalization, what do networks of relations and dependencies become?

Potentially border-crossing and worldwide Signup and view all the answers

How is globalization described in terms of its impact on individuals, corporations, and nation-states?

Enabling them to reach around the world farther, faster, deeper, and cheaper Signup and view all the answers

What is the main driving force behind the political dimension of globalization?

Neoliberal government's political decisions Signup and view all the answers

Which century saw the First Wave of Globalization come to an end?

19th century AD Signup and view all the answers

What is the main driver of social globalization according to the text?

Cultural flows Signup and view all the answers

In which era did the Age of Exploration take place?

15th-18th century AD Signup and view all the answers

What is the key outcome of the economic dimension of globalization?

Rampant establishment of financial markets Signup and view all the answers

Who are considered to be the main drivers behind intensification and expansion of political interrelations around the world?

Hyper-Globalizers Signup and view all the answers