Find a word in the text above that matches each definition below. The words appear in order.

Date: 2015-10-07; view: 813.

Exercises

Effects of globalization

Exchange rates

Currencies fluctuate against each other: the euro against the dollar the yen against the yuan. This is due to many complex factors such as the underlying strength of the economy, interest rate differentials and speculation. Having a strong currency makes imports cheap for domestic consumers, but hurts exporters (whose product become more expensive overseas).

-Arguments in favour of globalization

· General prosperity: lower prices, more employment, higher standards of living.

· Increased opportunity and social /personal mobility.

· Improvements for poor countries: life expectancy, infant mortality, literacy,

participation of women in society.

-Arguments against f globalization

· Inequality of wealth within nations - not much 'trickle down effect' (when financial benefits are passed down from big business to consumers and ordinary people)

· Human costs: injustice due to increased power of local elites, erosion of traditional cultures.

· Environmental damage.

1 makes something work; provides the power for something

2 removing the rules and laws that control business activity

3 money that the government pays to support industries or reduce the costs of products

4 official limits on the amount of something

5 taxes on goods coming into the country

6 limited, restricted

7 the amount of money in circulation

8 periods of time when people pay more than the real value of something; balls of air in a liquid

9 with an important effect, but one that isn't easy to notice

10 (formal), the degree of difference between things

11 when people have money and everything they need for a good life

12 the ability t o read and write