What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?
What will be an ideal response?
Some of the advantages are that buyers receive lower prices, more choice, and more access to innovative technology. The major disadvantage is that a crisis is more likely to spread from one part of the world to another.
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When is a balance of payments account out of balance?
a. only when exports are greater than imports b. only when imports are greater than exports c. when exports are either greater or less than imports d. only when exports are greater or less than imports over a sustained period e. never
If American consumers began buying less expensive golf clubs from China rather than buying American-made golf clubs, the U.S. economy would be worse off as a whole.
Answer the following statement true (T) or false (F)