Unit Three: Economic Issues

Chapter 10: Food and Agricultural Issues

Multiple Choice

1. The single most important advancement in human history was?

a) a trade system
b) creation of currency
C) agriculture
D) the plough

2. Cash crop farmers:

A) produce a variety of products
B) produce a few products
C) sell to local and world markets
D) B and C

3. High-yield crops:
A) grow fast
B) are large in size
C) don’t respond well to fertilizer
D) none of the above

4. The Green Revolution used the Western model of agriculture. This model included
the use of what inputs?
A) tractors
B) irrigation
C) greenhouses
D) corporate farms

5. Hydroponic farming allows…

A) plants to be grown in very wet conditions
B) plants to be grown in different environments
C) plants to be grown faster by hydro stimulation
D) plants to be grown with little to no water

Short Answer

Other than farming, what other form of food production exists?

Other than farming, aquaculture is an important food production. Aquaculture is the
breeding of fish on fish farms. This is due to the compromised of major fisheries
because of over fishing. There is a possibility of enhancing our fish supply through this
method.
 Unit Three: Economic Issues

Chapter 11: Economic Issues

Multiple Choice

1. What is a characteristic of Stage 5 in economic development?

A) per capita gain in wealth
B) tertiary sector expands
C) investment in social programs
D) nation starts to invest wealth into economy

2. What is the mercantile system?

A) organization of trade
B) view by imperial countries that colonizations are a source of raw material
C) view by imperial countries that colonization are a captive and controlled market
D) All of the above
E) B and C

3. A free market consists of:

A) government control
B) free trade
C) supply and demand
D) planned economy

4. Neo liberalists believe what?

A) people have the right to good economic conditions
B) governments should have little to no influence in the economic market
C) a command economy is beneficial
D) A and D

5. Canada has free trade agreements with who?

A) Pacific Rim
B) Mexico
C) The Americas
D) America and Mexico
E) A and C

Short Answer

What are Keynesian economics and when was it used?

Unit Three: Economic Issues

Keynesian economics is a system in which government spending helps to create jobs in

economic hardship. This was seen during the Great Depression when President
Franklin D. Roosevelt instituted the New Deal, which spent money on building a dam
and highway, therefore, creating employment.

Chapter 12: Growth of Economic Globalization

Multiple Choice

1. The top 20 countries from the Global 500 companies are mainly what business type?
A) oil and auto
B) oil and general trading
C) general trading and insurance
D) retail

2.Which is NOT an argument against transnationals?

A) loss of cultural identities
B) benefits for the developed world
C) increase in world economic growth
D) corporations beyond government control

3. The Auto Pact resulted in…

A) increase in auto production
B) auto assembly ended up in America
C) Ontario became a major auto exporter
D) A and C

4. NAFTA stands for…

A) National Agreement for Trade Alliance
B) North America Fair Trade Agreement
C) North America Free Trade Agreement
D) North America Free Trade Alliance

5. FTAA stands for…

A) Fair Trade Agreement of the Americas
B) Free Trade Area of the Americas
C) Fair Trade Alliance of the Americas
D) None of the above

Short Answer
Unit Three: Economic Issues

What has been key to economic globalization?

A key factor in economic globalization has been the introduction of many free trade
agreements. These agreements break down barriers between countries, allows a larger
capitalist, or free market, to exist, and allows investment and technology to move freely
worldwide.

Chapter 13: Economic Disparity in the World

Multiple Choice

1. Dire poverty is defined as a per capita GDP of what?

A) > US $100
B) > US $1.00
C) < US $1.00
D) < US $100

2. Reasons for economic disparity include:

A) colonialism
B) “zone of war”
C) A and B
D) greed

3. The Marshall Plan encouraged what?

A) The Cold War
B) America giving away money freely
C) a strong economy
D) the beginning of foreign aid

4. Reasons for providing foreign aid are:

A) political alliances
B) helps donor countries economically
C) allows religious nations to feel good
D) all of the above
E) none of the above

5. What percentage did Lester Pearson decide should be the set target of richer
countries in giving development assistance?
A) 1 per cent
B) 0.7 per cent
C) 0.4 per cent
Unit Three: Economic Issues

D) 0.5 per cent

Short Answer
What are the seven (7) causes of economic disparity?
The seven causes of economic disparity in the world within developing nations are the
lasting impacts of colonialism, higher rates of population growth, large foreign debt to
First World countries, civil unrest and wars, poor leadership, unfair trade conditions, and
lack of local control in these countries.

Chapter 14: International Debt Crisis

Multiple Choice

1. Three types of lenders for international loans are:

A) International agencies
B) commercial banks
C) bilateral loans
D) multilateral loans
E) all of the above

2. The United Nations HDI is a measurement of…

A) economic growth
B) quality of life
C) international debt
D) health and safety

3. Odious debt is?

A) created by countries dependent on more affluent ones
B) created by high heel shoes
C) created by corrupt leaders greed
D) is forgivable

4. What are hard currencies?

A) Pound
B) Yuan
C) Yen
D) all but B
E) all but C
Unit Three: Economic Issues

5. In which ways are countries in debt socially affected?

A) lack of spending on debt servicing
B) immense poverty and disease
C) lack of spending on education programs
D) poor leadership

Short Answer
What solutions have been offered to help combat the international debt crisis?
Solutions that have been offered is some sort of debt relief, whether it be absolute or
partial for the debtor nation. Initiatives that have been suggested are the Highly Indebted
Poor Countries (HIPC), and the Jubilee+ Campaign. Both were a way to have debts
forgiven, or at least, help debtor countries who legitimately needed financial help.