1) In the World Bank's Gini index data, higher values indicate what? a) A. Higher income equality b) B. Lower income inequality c) C. Higher income inequality d) D. Balanced family income distribution 2) According to the 2025 UNDP report based on 2023 data, countries with HDI from 1 to 74 are classified as what? a) A. High human development b) B. Very high human development c) C. Medium human development d) D. Low human development 3) The Gini index is defined as a measure of income inequality on a scale from 0 (perfect equality) to 1 (or 100, perfect inequality). According to this definition, what does a Gini coefficient closer to 1 indicate? a) A. Greater income equality b) B. Lower economic growth c) C. Higher income inequality d) D. Balanced wealth distribution 4) Morbidity is defined as the incidence or prevalence of disease or ill health in a population, often measured via metrics like disability-adjusted life years (DALYs). What does high morbidity indicate? a) A. Low disease burden b) B. High prevalence of health issues c) C. Reduced life expectancy d) D. Economic prosperity 5) Morbidity, as defined in health estimates, tracks disability causes. What is a key metric in IHME profiles? a) A. GDP per capita b) B. Causes of disability by location c) C. Population growth d) D. Fertility rates 6) Mortality is defined as the rate of death in a population, often expressed as deaths per 1,000 people. What does a high crude mortality rate signify? a) A. High birth rates b) B. Frequent disease incidence c) C. Elevated death occurrences d) D. Improved health systems 7) Supply is defined as the quantity of goods producers offer at various prices, while demand is the quantity consumers desire. In Mexico's 2025 natural gas market, what drove record U.S. exports? a) A. Supply surplus b) B. Growing electric power demand c) C. Price decreases d) D. Reduced production 8) Macroeconomics is defined as the study of economy-wide phenomena. What are its primary goals? a) A. Individual firm profits b) B. Aggregate growth, stability, and full employment c) C. Disease rates d) D. Tax evasion 9) Inflation is defined as a sustained increase in the general price level of goods and services. What is its common measure? a) A. Consumer Price Index (CPI) b) B. Gini coefficient c) C. Life expectancy d) D. Supply curve 10) Unemployment is defined as the percentage of the labor force that is jobless but actively seeking work. What type is structural unemployment? a) A. Temporary due to transitions b) B. Mismatch between skills and jobs c) C. Seasonal variations d) D. Due to economic downturns 11) Fiscal policy is defined as the use of government revenue collection and expenditure to influence the economy. What tool does it primarily involve? a) A. Interest rates b) B. Taxation and government spending c) C. Money supply control d) D. Trade tariffs only 12) Monetary policy is defined as the process by which a central bank manages the money supply and interest rates. What is its main objective? a) A. To control inflation and stabilize the economy b) B. To distribute income equally c) C. To measure disease prevalence d) D. To set tax rates 13) Business cycles are defined as fluctuations in economic activity over time. What phase follows a peak? a) A. Expansion b) B. Recession c) C. Trough d) D. Recovery 14) Balance of payments is defined as a record of all economic transactions between residents of a country and the rest of the world. What does a surplus indicate? a) A. More outflows than inflows b) B. More inflows than outflows c) C. Equal transactions d) D. High morbidity 15) Market equilibrium, as defined in supply and demand theory, occurs where? a) A. Supply exceeds demand b) B. Demand exceeds supply c) C. Quantity supplied equals quantity demanded d) D. Prices are fixed by government 16) The law of demand, per its definition, states that as price increases, what happens to quantity demanded? a) A. Increases b) B. Decreases c) C. Remains constant d) D. Equals supply 17) Supply is defined as the total amount of a good or service available at various prices, while demand is the willingness and ability to purchase. What law governs supply? a) A. Inverse relationship with price b) B. Direct relationship with price c) C. No relationship with price d) D. Equality with demand 18) Economic growth is defined as an increase in the production of goods and services over time. How is it typically measured? a) A. Percentage change in real GDP b) B. Gini index variation c) C. Mortality rate decline d) D. Tax revenue 19) A shift in the demand curve, according to definitions, is caused by factors other than price, such as what? a) A. Changes in consumer income or preferences b) B. Production costs c) C. Tax rates d) D. Mortality levels 20) Gross Domestic Product (GDP) is defined as the total monetary value of all final goods and services produced within a country's borders in a given period. What does nominal GDP measure? a) A. Adjusted for inflation b) B. At current market prices c) C. Per capita income d) D. Inequality 21) What is the primary purpose of taxes in Mexico's economy? a) A. To fund only military expenses b) B. To generate revenue for public services like education and healthcare c) C. To increase private business profits d) D. To control weather patterns 22) In Mexico, who is responsible for collecting most federal taxes? a) A. State governments b) B. The Servicio de Administración Tributaria (SAT) c) C. Local schools d) D. Private banks 23) What is Impuesto Sobre la Renta (ISR), the main personal income tax in Mexico? a) A. A tax on imported goods b) B. A progressive tax on individuals' earnings from work or investments c) C. A fee for using public roads d) D. A tax on company buildings 24) Mexico's Impuesto al Valor Agregado (IVA), or Value-Added Tax, is applied to what? a) A. Only luxury items b) B. Most goods and services purchased by consumers c) C. Salaries only d) D. Educational materials 25) Which type of tax in Mexico is managed at the state level and applies to property ownership? a) A. IVA b) B. ISR c) C. Impuesto Predial (Property Tax) d) D. Excise Tax 26) What is a common state-level tax in Mexico that employers pay on employee salaries? a) A. IVA b) B. ISR c) C. Impuesto Sobre Nómina (Payroll Tax) d) D. Property Tax 27) How does Mexico's tax system promote fairness through progressive taxation? a) A. Everyone pays the same flat rate b) B. Higher-income individuals pay a higher percentage on additional earnings c) C. Only businesses pay taxes d) D. Taxes are based on age 28) Complementary goods are consumed together. If the price of gasoline increases, what is the likely effect on the demand for automobiles? a) A. Demand for automobiles increases. b) B. Demand for automobiles decreases due to higher operating costs. c) C. Supply of automobiles rises. d) D. No change in demand for automobiles. 29) Substitute goods are products that can replace each other in consumption. If the price of coffee rises, what happens to the demand for tea? a) A. Demand for tea decreases. b) B. Demand for tea remains unchanged. c) C. Demand for tea increases as consumers switch. d) D. Supply of tea decreases. 30) nferior goods are characterized by a decrease in demand as consumer income increases. What economic condition might lead to this? a) A. Rising production efficiency. b) B. Consumers switching to higher-quality alternatives as they become wealthier. c) C. Government subsidies on luxury items. d) D. Fixed supply constraints. 31) Normal goods are defined as those for which demand increases when consumer income rises. Which of the following is most likely a normal good? a) A. Instant noodles during economic downturns. b) B. Organic vegetables in affluent households. c) C. Used clothing in low-income areas. d) D. Public transportation in urban settings. 32) What occurs at the equilibrium point in a supply and demand graph? a) A. Quantity supplied exceeds quantity demanded, creating a surplus. b) B. Quantity demanded exceeds quantity supplied, creating a shortage. c) C. Quantity supplied equals quantity demanded, with no tendency for price to change. d) D. The government intervenes to set prices. 33) In supply and demand analysis, a movement along the demand curve typically results from a change in what factor? a) A. Consumer income levels. b) B. The price of the good itself. c) C. The price of related goods. d) D. Population size

Globalization Exam 2

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