Recent decades have seen an increased share of exports due to globalization. Globalization has occurred for a number of reasons. List three reasons and briefly describe their effect on globalization
Globalization has occurred for a number of reasons. Improvements in shipping and air cargo have driven down transportation costs. Innovations in computing and telecommunications have made it easier and cheaper to manage long-distance economic connections of production and sales. Many valuable products and services in the modern economy can take the form of information. These products and many others can be transported over telephones and computer networks at ever-lower costs. Finally, international agreements and treaties between countries have encouraged greater trade.
You might also like to view...
A tax is imposed on the sale of a product. As long as neither the supply nor the demand is perfectly elastic or inelastic
A) there is no change in the price paid by the consumers. B) the price paid by the consumers increases by the full amount of the tax. C) the price paid by the consumers increases by less than the amount of the tax. D) the price paid by the consumers increases by more than the amount of the tax.
Typically, when someone borrows money from a bank, M2 ________, because ________
A) increases; the money is held for a while in a liquid form B) decreases; the money is held for a while in a liquid form C) does not change; the loan affects only the subcategories within M2 D) decreases; of the decline in the bank's vault cash E) none of the above
If the contribution from capital growth equals 3 percent and the contribution from productivity growth equals 1.6 percent, GDP will grow by ________
A) 1.6 percent B) 4.6 percent C) 4.8 percent D) an unknown value
The United Auto Workers has fought for curbs on imports of foreign-made cars in order to cause
a. a rightward shift in the supply of U.S. cars b. a leftward shift in the supply of U.S. cars c. movement to the left along the supply curve for U.S. cars d. movement to the right along the supply curve for U.S. cars e. a rightward shift of the demand curve for U.S. cars