Which is NOT true of Globalization
A. it refers to increasing economic and cultural interdependency amongst countries
B. it results in the financial ruin of some countries
C. it potentially increases economic well-being among all countries involved
D. it results in increasing competition, specialization, transmission of ideas.
Ans: B. it results in the financial ruin of some countries
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The development of a new technology can provide a way for an economy to sidestep the diminishing marginal returns of capital deepening
a. True b. False Indicate whether the statement is true or false
If coffee and cream are complements, an increase in the price of coffee will cause
a. the demand for cream to increase. b. the demand for cream to fall. c. the demand for coffee to fall. d. no change in the demand for cream; only quantity demanded would be affected.