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Social Studies 10-1

Social Studies 10-1 · Worksheets

Sustainable prosperity

Ten questions of mixed difficulty, covering Prosperity. Print it, or work through it on screen — the answer key starts on its own page.

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Sustainable prosperity

Social Studies 10-1 · maddyhelps.com

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Circle the best answer for each question. Show your work in the space provided.

  1. A tariff is

    1. a) a currency
    2. b) a trade agreement
    3. c) a subsidy to farmers
    4. d) a tax on imported goods

  2. The World Trade Organization exists mainly to

    1. a) lend money to poor countries
    2. b) set rules for international trade and settle disputes
    3. c) set currency exchange rates
    4. d) enforce human rights

  3. Gross Domestic Product measures

    1. a) its literacy rate
    2. b) income equality
    3. c) the total value of goods and services a country produces
    4. d) the health of its people

  4. Structural adjustment programs required borrowing countries to

    1. a) nationalize industry
    2. b) raise tariffs
    3. c) cut spending and open their economies in exchange for loans
    4. d) leave the WTO

  5. The Human Development Index combines

    1. a) population and area
    2. b) income, life expectancy and education
    3. c) income only
    4. d) trade volume and tariffs

  6. The argument that transnational corporations reduce state sovereignty rests on the claim that

    1. a) governments compete to attract investment by weakening their own rules
    2. b) corporations elect governments
    3. c) corporations own land
    4. d) corporations have armies

  7. A criticism of free trade agreements is that they

    1. a) require a single currency
    2. b) always raise prices
    3. c) prevent all trade
    4. d) can let firms move to where labour and environmental standards are weakest

  8. Outsourcing is the practice of

    1. a) raising tariffs
    2. b) opening a new head office
    3. c) selling a company
    4. d) moving work to another company or country, often for lower cost

  9. A transnational corporation is one that

    1. a) has no employees
    2. b) trades only at home
    3. c) operates in more than one country
    4. d) is owned by a government

  10. Free trade means trade

    1. a) with few or no tariffs and restrictions between countries
    2. b) only within a country
    3. c) with no money involved
    4. d) controlled entirely by government

Answer key · Sustainable prosperity

Social Studies 10-1 · maddyhelps.com

  1. d) a tax on imported goods — It raises the price of imports so domestic producers can compete. The cost falls on consumers, which is the standard objection and one worth naming explicitly.
  2. b) set rules for international trade and settle disputes — Lending is the World Bank and the IMF. Critics argue the WTO's rules favour wealthy members; defenders argue rules constrain the powerful more than no rules would.
  3. c) the total value of goods and services a country produces — GDP says nothing about distribution, environmental cost or wellbeing, which is why the Human Development Index adds life expectancy and education. Naming what a measure leaves out is a standard exam move.
  4. c) cut spending and open their economies in exchange for loans — The intended effect was stability; a common criticism is that the required cuts fell on health and education. This is the sharpest example of global institutions shaping domestic policy.
  5. b) income, life expectancy and education — It was designed precisely because GDP per person can be high in a country where most people are poor or short-lived. Using HDI alongside GDP is a good habit in an answer.
  6. a) governments compete to attract investment by weakening their own rules — The mechanism is competition between states, not direct control, and saying that precisely is what separates an analysis from an accusation. The reply is that investment brings jobs and technology a country chose to seek.
  7. d) can let firms move to where labour and environmental standards are weakest — The race-to-the-bottom argument. The reply is that trade raises incomes in poorer countries over time and that standards tend to rise with them, which is an empirical dispute rather than a matter of principle.
  8. d) moving work to another company or country, often for lower cost — It can lower consumer prices and create jobs in the receiving country while removing them from the sending one. Both effects are real, and an essay that names only one is incomplete.
  9. c) operates in more than one country — Some have revenues larger than the economies of the countries they operate in, which is why the course treats their power as a political question and not only an economic one.
  10. a) with few or no tariffs and restrictions between countries — Protectionism is the opposite: tariffs, quotas and subsidies used to shield domestic producers. Nearly every economic argument in this course is a version of the choice between them.