1. Why there is so little formal work in Peña Blanca?

It is a resort town that exists mostly to provide seasonal service to tourists.

The town’s political problems have spilled over to its economy.

Town residents prefer to freelance.

It is a poor, rural town whose economy and infrastructure are not strong enough to support regular jobs.

2. What was the goal of the Bretton Woods conference in 1944?

to finance agricultural projects in Latin America

to draft a defense pact against the Soviet Union

to craft a new environmental treaty

to prevent a future economic collapse through international cooperation

3. Approximately what percentage of the world is impoverished?

50 percent

15 percent

25 percent

75 percent

4. When numbers are adjusted for purchasing power parity it means that which of the following is true?

What you can buy for $10 in the U.S. is equivalent to what citizens of another country can buy for $10 U.S. in their country.

Every country in the world uses U.S. dollars in their economies.

A Big Mac in two different countries will cost exactly the same.

15 units of local currency (such as kwachas) are equal to 15 U.S. dollars.

5. What does the term Global South refer to?

sub-Saharan Africa

the geographic area of the world where most developing countries are located

the poorest areas of the developing world

the Southern Hemisphere