1.2 // The Global Economy Flashcards
1
Q
What is the global economy?
A
A worldwide economy with a unified market for goods and services.
2
Q
What is America’s ranking as an importer and exporter?
A
Top importer; one of three top exporters
3
Q
How does the global economy affect the job market?
A
Jobs are moving to countries where labor is cheaper.
ex: U.S. jobs and European jobs are moving to China and India.
4
Q
What three things do people move around the world for?
A
New opportunities, safety, and security.
5
Q
What impact does increased migration have on the economy?
A
It affects wage rates and employment.
