Does globalization promote economic growth, and how does globalization affect the welfare of a given country's citizens?
What will be an ideal response?
More globalized countries generally experience much higher annual growth rates in real GDP per capita than countries that are less open to foreign trade and investment. As countries become more globalized, advances in technology in those countries become more likely, and advances in technology are a key to economic growth. However, foreign influences in some countries are not always viewed as positive, as they can have a greater impact on culture than some would like. In addition, multinational firms that operate in foreign countries may also pay very low wages or fail to uphold the same safety and environmental regulations they are required to follow in their own countries.
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Employment discrimination leads to the _________________ of labor.
Fill in the blank(s) with the appropriate word(s).
What is the expected payoff of an investment that yields $1,000,000 with a probability of 0.001 and $0 with a probability of 0.999?
A. $1,000,000 B. $1,000 C. $10,000 D. $500,000
Assuming that the demand and supply of a good have moved in the same direction, and by the same amount, the new equilibrium would represent: a. an increase in price and an increase in quantity exchanged
b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. no change in price, and an indeterminate change in quantity exchanged.
If a component of aggregate demand increases,
A) GDP in the United States is likely to increase less than that component of spending increased. B) GDP in the United States is likely to increase more than that component of spending increased. C) GDP in the United States is likely to decrease. D) GDP in the United States will not change.