2021. Currently, there is government support through a program called Trade Adjustment Services are business activities conducted between countries, such as tourism, finance, insurance, real estate, science exchanges, professional services, business management, education, health care, arts, entertainment, accommodation, and food services. Trade in intermediate goods is now nearly twice as large as trade in final goods and is especially important in advanced manufacturing, like autos. B) the South and northern US Cities. China bought none of the extra $200 billion of US exports in Trump's trade deal. A payment of money or goods from the family of a bride to the grooms father is Washington: Peterson Institute for International Economics. Hendrix, Cullen S. 2016. C) practices. D) New England. D) The Gulf Coast. Since ancient times, humans have sought distant places to settle, produce, and exchange goods enabled by improvements in technology and transportation. The Role of Trade in Ending Poverty. tax credits, better unemployment benefits, and subsidies for health insurance for all displaced workers regardless Korea was hit in 200809 even though the epicenter of the crisis was in the United States and Europe. A) art. Bergsten, C. Fred. Blinder, Alan. The History of an Idea. Transcribed image text: . 2018. 12%,$110,000 note. Which of the following is not an ethnic concentration in North America? RealTime Economic Issues Watch (April 11). Total US liabilities to foreigners were $34 trillion in Chicago: University of Chicago Press. Associated Press/Abe Fox Any interactives on this page can only be played while you are visiting our website. Globalization is the movement and integration of goods and people among different countries. B) influence of a culture decreases the further one travels from the core. Increased Trade: A Key to Improving Productivity. Americans, Like Many in Other Advanced Economies, Not Convinced of Trades Benefits. B. D. Globalization contributes to global political, economic, and military dominance of some countries over others. to higher education and health care, but Americans remain conflicted about the governments role in these social D) It is better than analysis in decision-making. 2016. A countrys trade balance, either a surplus or deficit, is not affected by tariffs or trade agreements but by larger economic factors, like government spending and monetary policy. 2017. Duringtimes of peace, it is beneficial in a global economy,to see othernationssucceed. Supporters of globalization say that factory workers in poor countries are making much better wages than they would at other jobs available to them. Globalization is the connection of different parts of the world. because consumers are spending a smaller percent of their incomes on manufactured goods and more on services, which include housing, health care, dining out, travel, and legal services. Today, news and information zips instantly around the world on theinternet. from both cultures. One in five American manufacturing workers is now employed by a foreign-owned company operating in the United States. Studying religions is important to understanding a culture because Sustainability Policy| 2 See answers Advertisement E) all of the above. 2020SAGE Publications SAGE Publications India Pvt. D) cultural exclaves. What Is Globalization? Globalization Explained - SearchCIO A culture keeps its own cultural ideas from other cultures. opened up to trade. Payosova, Tetyana, Gary Clyde Hufbauer, and Jeffrey J. Schott. C) The spread of AIDS from Africa to Europe. If you have questions about how to cite anything on our website in your project or classroom presentation, please contact your teacher. b. PIIE Working Paper 17-10. North American Free Trade Agreement (NAFTA), Yale University: Yale Center for the Study of Globalization. B) Acculturation. Wages have also stagnated, though economists are still debating the exact causes. Peterson Institute for International Economics. Why do many recent college graduates prefer to move into city neighborhoods Youth Culture and Globalization - 2689 Words | Term Paper Example improve their competitiveness, Leads to higher tariffs on US exports, which would dampen sales and hurt US businesses and workers, Jeopardizes role of the United States as a world leader in international cooperation, making it more difficult to devising communication strategies to accomplish communicative goals, constructing messages consistent with communicative strategies. As people, ideas, knowledge, and goods move more easily around the globe, the experiences of people around the world become more similar.Globalization in HistoryGlobalization has a long history, for example, Ancient Greek culture was spread across much of southwestern Asia, northern Africa, and southern Europe. A) The spread of English language to British colonies. A) cultural environment. B) cultural homeland. E) all of the above. The example of quinoa in this chapter was used to illustrate an aspect of the globalization paradox. Washington: Peterson Institute for International Economics. D) Asian-Americans. Trade and Globalization. 2017. Others point out that people tend to adopt some aspects of other cultures without giving up their own. nonfarm, nongovernment employment. 2011. Schott, Jeffrey J., and Melina Kolb. Which of the following is an example of relocation diffusion? The greatest areas of job growth now in the United States are in professional and business services, health care and social assistance, and educational services. Many multinational companies with famous brands are now controlled by global enterprises. B) Step migration. E) ethnic agglomeration. Bigger factors than trade that drive job displacements are labor-saving technologies, like automated machines and artificial intelligence. E) none of the above, AP Human Geography Chapter 4 Multiple Choice, Information Technology Project Management: Providing Measurable Organizational Value, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, The Cultural Landscape: An Introduction to Human Geography, AP Edition. A) Latin America. Expanding on the concept of Davos culture, sociologist Peter L. Berger observed that the globalization of Euro-American academic agendas and lifestyles has created a worldwide faculty cluban international network of people who share similar values, attitudes, and research goals. Globalization is growing less important as time passes. Millions of people take vacations to foreign countries. Washington: Peterson Institute for International Economics. A) Culture is the traditions and beliefs of a group of people. D) an area around the boundary between two culture regions that exhibits traits Which of the following statements best describes cultural hybridization? While most Americans only began paying attention to globalization with the North American Free Trade Agreement (NAFTA) debates in 1993. Many are most comfortable with goods and services that resemble what they have at home. The economy of the country of Saudi Arabia is almost entirely dependent onoilexports.To increase trade, many countries have created free trade agreements with other countries. All Institute research is held to strict standards of replicability and academic integrity. Prepare the entries to record (a) issuance of the note and (b) payment of the note at maturity. Washington: Peterson Institute for International Economics. 2003-2023 Chegg Inc. All rights reserved. 2016. This concept makes production more efficient, promotes economic growth, and lowers prices of goods and services, making them more affordable especially for lower-income households. Globalization is the word used to describe the growing interdependence of the worlds economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. 2. 2018. How do folk cultures perceive their environment? Which statement best describes trends in globalization of markets? E) the belief that ones own culture is superior to all others. Contact Us. Although market borders are blurring, it is still easy to determine the nationality of companies. Cultural Globalization (Examples, Pros, Cons) - AP Human Geo Washington: Peterson Institute for International Economics. 2017. They can also find resources at the school library or a local library. A trade deficit occurs when spending on imports exceeds what is earned from selling exports. Washington: Urban Institute. Globalization has brought changes to Gogol's family that they are learning to like . The Institute discloses all sources of funding, which comes through donations and grants from corporations, individuals, private foundations, and public institutions, as well as income on the Institutes capital fund and from publishing revenues. Hufbauer, Gary Clyde, and Zhiyao (Lucy) Lu. Newport, Frank. B) influence of a culture decreases the further one travels from the core. C) rural areas of the South and Midwest. Special thanks to C. Fred Bergsten, Chad P. Bown, Cullen S. Hendrix, Gonzalo Huertas, Gary Clyde Hufbauer, Douglas A. Irwin, Fredrick Toohey, Jeffrey J. Schott, and Eitan Urkowitz for their contributions. In seconds, people are able to respond tonatural disasters that happen thousands of miles away.Many people access information through improved and new technology, such as cell phones. Divide the class into two groups: students who focused on pros and students who focused on cons. Imports are goods or services purchased from outside the country. UNCTAD (United Nations Conference on Trade and Development). Wandner, Stephen A. Trade and Investment Policy Watch (December 2). But the term gained popularity after the Cold War in the . For more updates from the Peterson Institute, subscribe to the newsletter. Challenges to national sovereignty and identity, Anti-globalism movements and the Internet, Borrowing and translating popular culture, https://www.britannica.com/science/cultural-globalization, Social Science LibreTexts - Globalization. C) Cultural integration. Which of the following statements best describes the primary effect of globalization? When businesses want to manufacture their products at a cheaper rate, they employ the services from developing countries which is possible in countries such as China and Cambodia, where manufacturing costs and . E) any market area for a retail business. Aid agencies can respond more quickly to a natural disaster. C) do not earn the same pay as a man does. Anthropologist Arjun Appadurai described and studied five dimensions of global cultural flow. They also say that outsourcing has causedwealthycountries to lose too many jobs. Dueto globalization and other factors, it isimpossible for large industrialized nations toexit the global economy without devastating effects. There are abuses within the system and rules need to be updated. A) interstate highways. An agent for a residential real estate company in a suburb located outside of Washington, DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. (October 27). A) marriage tax. of the cause. Which of the following is an example of stimulus diffusion? C) influence of a culture stays the same the further one travels from the core. from expanded trade are at least 10 times greater than what is needed to meaningfully assist workers who lose Geography, Human Geography, Social Studies, World History. Pew Research Center (December 14). Globalization reduces unique features of local culture and contributes to global cultural homogenization B. Many buildings were damaged. 2016. 8. D) foods. 2017. 2016. The government may enact taxes on imports (called tariffs), limits on the quantity of imports (called quotas), subsidies to domestic industries, or other regulations.