Question 1

Sixty years ago,Evelyn and Alvin were married and they purchased a farm that was seven kilometres from Alvin's parents.Now their children are married and living in various locations around the world-British Columbia,Alaska,and Switzerland.To keep in touch with their grandchildren and great-grandchildren,they've purchased a computer with a webcam and Skype or send emails.What have Evelyn and Alvin experienced over their lifetime?

Accepted Answer

Evelyn and Alvin have experienced time-space compression, which refers to the phenomenon where advancements in technology and communication have effectively reduced the distances between people, allowing them to maintain relationships over long distances.

Question 2

According to your text,what percentage of the global population is overweight or obese?

Accepted Answer

Nearly 30 percent of the global population is overweight or obese according to the text.

Question 3

In an effort to encourage investment,the president of Country X reduced tariffs,making the country more attractive to Company Y,which came in and built a large factory.Company Y used local,cheap labour,but made a product these people could not afford to buy.The product was shipped to Country Z,where citizens could purchase and enjoy the new product.What term refers to this set of relationships between countries?

Accepted Answer

This set of relationships between countries is an example of top-down globalization, where decisions made by powerful actors such as governments and multinational corporations shape and affect global markets and economic relationships. The reduction of tariffs by the president of Country X was a top-down decision, which attracted Company Y to invest and build a factory that used local, cheap labor. The product produced by Company Y was then sold in Country Z, where citizens could afford it, thus creating a top-down flow of economic benefits and dependence between these three countries.

Question 4

In a conversation with his friends,Alex went into depth about the "Washington consensus." What was their discussion about?

Accepted Answer

The "Washington consensus" refers to the set of neoliberal policies that were promoted by the International Monetary Fund (IMF) and the World Bank in the 1980s and 1990s, which included privatization, deregulation, and free trade. This policy approach was largely driven by the United States and its allies in Washington, hence the name "Washington consensus."

Question 5

In class Regan asserts that every country should focus on job creation for all adult citizens.Ronald interjects,"Regan,you're being ethnocentric." Why would Ronald say that?

Accepted Answer

Ronald accuses Regan of being ethnocentric because Regan's assertion assumes a universal applicability of job creation in the formal sector, ignoring the significant portion of the world's population that sustains itself through agriculture or non-wage labor, which is common in many non-industrial or developing countries.

Question 6

After watching a documentary featuring the lives of Aboriginal people on reserves in Alberta,Will commented that their living conditions reminded him of Luanda,Angola.Despite the money being made by Angola's oil and diamond exports,citizens of Luanda were further marginalized,receiving little benefit from the wealth.What term denotes this process?

Accepted Answer

Peripheralization refers to the process where certain regions or groups are marginalized and excluded from the benefits of economic development and globalization. This term accurately describes the situations faced by both the Aboriginal people on reserves in Alberta and the citizens of Luanda, Angola.

Question 7

Prior to the mid-1990s,how much income inequality in Canada was offset by its tax-benefit system?

Accepted Answer

Prior to the mid-1990s, Canada's tax-benefit system offset around 70% of income inequality. This means that the system redistributes income from the rich to the poor, resulting in a more equal distribution of income.

Question 8

Which statement best reflects the taxation situation of big corporations?

Accepted Answer

Big corporations often use various tax strategies and loopholes to minimize their tax bills. This could result in them paying significantly less taxes than they used to or even avoiding them altogether. Moreover, many governments offer tax incentives and subsidies to attract big corporations and retaining them in their countries, which further reduces these firms' tax burden.

Question 9

Which of the following is NOT an international financial institution component of "the three sisters"?

Accepted Answer

The Commerce Institution is not a component of "the three sisters" international financial institutions. The correct components are the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank.

Question 10

According to the text,which statement best describes globalization?

Accepted Answer

The text describes globalization as making the world look and feel smaller, indicating a more interconnected world. The other options are not mentioned in the text.

Question 11

According to trade experts and environmental groups,what is the biggest environmental challenge facing humanity?

Accepted Answer

While all of the options listed are valid environmental concerns, the global food system is arguably the biggest challenge facing humanity. The current system is unsustainable and contributes to issues such as deforestation, greenhouse gas emissions, and loss of biodiversity. It also perpetuates inequalities in access to food and exacerbates issues of hunger and malnutrition. Addressing and transforming the global food system is critical to achieving a sustainable future for both people and the planet.

Question 12

What is a global commodity chain?

Accepted Answer

A global commodity chain refers to the entire network of labor and production involved in bringing a finished product to market. This includes multiple stages of production in different countries, transportation, marketing, and sales. The term emphasizes the interconnectedness of global economic activities and the complex process involved in producing and selling a commodity.

Question 13

Carla learned that the T-shirts being sold for $25 at a soccer match were made in a sweatshop by women making $1 per day.She organized some friends to protest the T-shirt sales and the day became a protest against sweatshops.What other label could we give this protest?

Accepted Answer

The protest against sweatshops organized by Carla and her friends is an example of globalization from below, which refers to grassroots movements and activism that challenge and resist the negative impacts of globalization. The protest seeks to raise awareness and initiate change for the treatment of workers in the global economy, which is a key characteristic of globalization from below.

Question 14

What has been a consequence of globalization in Mexico?

Accepted Answer

Globalization in Mexico has often led to stagnating wages due to increased competition and the outsourcing of jobs to countries with cheaper labor costs.

Question 15

What is the Fourth World concept?

Accepted Answer

The Fourth World concept refers to large populations and geographic areas that are irrelevant to the global economy.

Question 16

According to the text,what has happened to manufacturing jobs in North America since the 1980s?

Accepted Answer

The text states that "Since the 1980s, manufacturing jobs in North America have steadily declined."

Question 17

What term is applied to a country such as Western Sahara,Africa,which is a nation characterized by poverty,illiteracy,short life spans,and a weak economy?

Accepted Answer

The term "Fourth World" is used to describe countries or regions that are characterized by poverty, illiteracy, short life spans, and a weak economy. Western Sahara, Africa can be considered a Fourth World nation. The term "global glut" refers to an excess supply of goods or services in the global market. "Poor zones" is not a commonly used term to describe nations. "Global south" is a term used to describe the developing countries located in the southern hemisphere. While Western Sahara is located in the northern hemisphere, it is still considered a Fourth World nation.

Question 18

Pam was explaining bottom-up globalization to her friend Adam.Which situation would Pam offer when Adam asked for an example of bottom-up globalization efforts?

Accepted Answer

Bottom-up globalization refers to efforts initiated by individuals or small groups that aim to effect change on a larger scale. Option C, a group of university students creating a documentary that critiques a company's use of illegal immigrants, would be an example of bottom-up globalization because they are taking initiative to bring attention to an issue and potentially create change on a larger scale. Options A, B, and D are not examples of bottom-up globalization as they involve larger corporations and organizations rather than individuals or small groups.

Question 19

When Victor calls for technical support with his computer,he speaks to someone in India.He gets angry about this situation because his brother is a computer wizard,but can't find work here in Canada.What market phenomenon has created this situation?

Accepted Answer

The situation described is that Victor is speaking to someone in India for technical support, indicating that the company he is contacting has outsourced their customer service to India. This is likely due to the phenomenon of outsourcing, where companies look to reduce costs by shifting their operations to countries with lower labor costs. This has resulted in many jobs moving overseas, as in the case of Victor's brother who is a computer wizard unable to find work in Canada.

Question 20

Kristopher was in charge of inventory and realized that his company was producing more product than the market could consume in a year.This was still true despite opening trade with China and India last year.What is the term for this situation?

Accepted Answer

The answer of Kristopher was in charge of inventory and...

Quiz 20: Globalization