In Spite of Globalization and a Concern for Human Rights

question 54

True/False

In spite of globalization and a concern for human rights, recent statistics on economic growth show that the rich nations seem to be getting richer while the poor nations are getting poorer.

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Definitions:

Income

The financial gain (earned or unearned) accruing over a given period of time.

Utility Functions

Mathematical expressions used in economics to represent a consumer's preference ranking for various bundles of goods.

Consumption

The utilization of goods and services by households or individuals to satisfy their needs and wants.

Grain

The small, hard seeds of cereal plants like wheat, rice, and corn, used as a primary source of food for humans and animals.