Question 1

A man from rural El Salvador came to the U.S. in search of work in the construction industry. He is an example of a:

Accepted Answer

A labor immigrant is someone who moves to a foreign country to seek employment opportunities, often in low-skilled or manual labor industries such as construction. This description fits the man from rural El Salvador perfectly.

Question 2

Periphery countries serve primarily as sources of:

Accepted Answer

Periphery countries provide cheap labor and raw materials to core countries, which use these resources to manufacture products that they sell for much higher prices in their own markets and abroad. This exploitation of the periphery's resources contributes to the wealth and development of the core countries.

Question 3

You decide to move to Tokyo, Japan because you were offered the opportunity to make a fantastic salary as an English teacher. This opportunity is an example of a:

Accepted Answer

This opportunity is an example of a pull factor because it is attracting you to move to Tokyo, Japan for the opportunity of making a fantastic salary as an English teacher. The pull factors are the positive attributes of a place that attract people to it.

Question 4

Industrialized agriculture is noted in the text as having yielded dramatic increases in the overall food supply of the planet. Yet, in 2015 nearly 3 million children died of malnutrition. What is the primary reason for this discrepancy?

Accepted Answer

The primary reason for the discrepancy is that food surpluses often go to wealthy industrialized nations, leading to food insecurity and malnutrition in poorer regions. The issue is not solely a matter of production or distribution, but also of political and economic structures that prioritize profit over human welfare.

Question 5

The text suggests that "ecological overshoot" is a likely consequence of our current global economy. What exactly does this mean?

Accepted Answer

"Ecological overshoot" means that we are using more natural resources than the planet can regenerate, and that our current global economy is unsustainable in the long term. This indicates that we have exceeded the ability of the planet to provide for our needs.

Question 6

According to anthropologists of finance, what is the driving force behind the global expansion of capitalism in the twenty-first century?

Accepted Answer

Anthropologists of finance argue that the driving force behind the global expansion of capitalism in the twenty-first century is the circulation of capital, which involves the flow of money and financial instruments across borders and between different sectors of the economy. This process of financialization allows for the accumulation and concentration of wealth, but also leads to increased volatility and inequality in the global economy. While industrial manufacture, labor migration, and mining may contribute to the growth of capitalism in specific regions or sectors, they are not considered the primary driving force behind its global expansion.

Question 7

Your dream is to live in Paris. Unfortunately, you do not speak French or have a work visa, so you can only stay 90 days or until you run out of money, whichever comes first. Your language and immigration status are examples of

Accepted Answer

The language and immigration status are examples of barriers because they are obstacles preventing the individual from staying in Paris for an extended period of time.

Question 8

The position that the free market and free trade rather than the state are the main mechanisms for ensuring economic growth is associated with which theorist?

Accepted Answer

The position that the free market and free trade rather than the state are the main mechanisms for ensuring economic growth is associated with Adam Smith, who is considered the father of modern economics and wrote extensively on the benefits of free markets and limited government intervention in his book "The Wealth of Nations."

Question 9

Are structural adjustment loans as provided by organizations such as the World Bank consistent with the goals of neoliberalism?

Accepted Answer

Structural adjustment loans are consistent with the goals of neoliberalism because they often require countries to implement economic policies that promote free market principles, such as privatization and deregulation, which align with neoliberal ideology. The World Bank, despite being an international financial institution, operates in ways that reflect neoliberal values, making choice C the correct answer. However, the explanation provided in choice C is incorrect; the World Bank is not a nongovernmental organization (NGO), but rather an international financial institution. The correct rationale is that structural adjustment loans are designed to promote neoliberal policies, not the classification of the World Bank as an NGO or government-controlled organization.

Question 10

Bangladesh's coastal flood plain has been repeatedly inundated with monsoons, flooding, and devastating erosion. How does the nation of Bangladesh illustrate the problems of development and how it relates to environmental challenges?

Accepted Answer

Bangladesh is a prime example of a poorer nation that suffers the consequences of climate change, such as flooding and erosion, in ways that developed nations do not. This underscores the challenges of development and how it relates to environmental issues. While governments have a role to play in addressing environmental destruction, past programs designed to help poor nations have not always been successful, and poor nations may struggle to manage economic growth in a sustainable way.

Question 11

Neoliberalism is associated with:

Accepted Answer

Neoliberalism is characterized by a belief in free market capitalism and a reduced role of government in the economy. One way this plays out in practice is through the privatization of public services like water and public transportation, which are seen as potential sources of profit for companies.

Question 12

How does the author describe the Chinese immigrants who enter the United States through New York as restaurant workers?

Accepted Answer

The author describes the Chinese immigrants who enter the United States through New York as restaurant workers as suffering from physical and emotional stress due to being underpaid and working long hours. The other options are not mentioned as characteristics of these immigrants.

Question 13

The surviving members of a family were forced to leave their home country when their city was bombed. They were left homeless and were afraid of being killed. This is an example of a:

Accepted Answer

The situation described represents a push factor, as the family was forced to leave their home country due to a negative circumstance (war and danger) that pushed them out.

Question 14

Currently, the world is consuming natural resources at double the rate required to maintain sustainable levels. What problem does this illustrate about the sustainability of the current global economy?

Accepted Answer

The fact that the world is consuming natural resources at double the rate required to maintain sustainable levels indicates that the human ecological footprint is too large. This means that the current global economy is not sustainable and must be re-evaluated and potentially restructured to prioritize sustainability.

Question 15

The small town of Togotala, Mali, cannot produce enough food for its population through agriculture due to its harsh climate that brings regular drought and three months of torrential downfall that causes soil erosion. What is true of this town?

Accepted Answer

The answer of The small town of Togotala, Mali, cannot...

Question 16

What argument did Keynes advance about how capitalism works best?

Accepted Answer

Keynes argued that capitalism works best when the government intervenes to regulate the excesses of the free market and ensure the basic welfare of all citizens. He believed that unregulated capitalism could lead to economic instability and inequality.

Question 17

Which of these are requirements faced by governments receiving structural adjustment loans under neoliberal economic policies?

Accepted Answer

Neoliberal economic policies require governments receiving structural adjustment loans to privatize state-owned enterprises. The other options, such as maintaining price supports on essential commodities and increasing spending on health and educational services, go against the principles of neoliberalism, which emphasize free-market policies and reduced government intervention. Similarly, implementing regulations on banks and financial institutions may be seen as counterproductive to neoliberal policies that prioritize deregulation and market liberalization.

Question 18

What aspects of Adam Smith's perspective on economic growth do today's neoliberal privatization programs build on?

Accepted Answer

Adam Smith's perspective on economic growth emphasized laissez-faire economics and a free market. This aligns with the neoliberal ideology, which seeks to reduce government intervention in the economy and promote privatization of industries. Therefore, today's neoliberal privatization programs build on Smith's belief in a free market. Choices A, B, and D are incorrect because they misrepresent Smith's views on the role of government in the economy.

Question 19

How does the Tsukiji fish market demonstrate the nature of a global commodity chain?

Accepted Answer

The Tsukiji fish market involves a complex network of actors and activities in the global trade of fish, from fishermen to middlemen to buyers from different countries. This demonstrates the nature of a global commodity chain where products move through different stages of production and distribution, linking disparate locations and people.

Question 20

Which of the following is a success the global economy has achieved in the past sixty years?

Accepted Answer

Infant mortality rates have indeed dropped significantly over the past sixty years, reflecting improvements in healthcare, nutrition, and access to medical services globally.

Quiz 11: The Global Economy