Global Economy Quiz #1

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This is the first quiz of four, and will cover Part I of our book, The Travels of a T-shirt in the Global Economy. The chapters included are 1-3. The answers to these questions come directly from the text.

The following 10 questions are multiple choice and true/false. Please select the choice that best answers the questions. You will receive immediate feedback on your scores upon completetion.

Created by: amd263

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  1. Technological innovation in the cotton industry
  2. The severity of the supply bottleneck is difficult to
  3. Dr. Rivoli defines the necessary ingredients for entrepreneurial success as
  4. An explosion in demand required a(n)
  5. What is the alternative system to slavery that emerged out of Landowners' need to bind labor to their land upon demand?
  6. In the 1930s the New Deal's Agricultural Adjustment Act introduced price supports.
  7. On a per acre basis, subsidies paid to cotton farmers are 5 to 10 times as high as those for corn, soybeans, and wheat.
  8. Under what bill did cotton farmers receive a direct payment of 6.66 cents per pound of cotton?
  9. What program is the product of political influence, and enabled cotton farmers to avoid competitive markets?
  10. "It was not the perils of the labor market but the ____ of the labor market that doomed generations of workers."

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