Thomas Friedman's Declaration That the World Was Now "Flat" Meant

question 21

Multiple Choice

Thomas Friedman's declaration that the world was now "flat" meant that

• A)the Internet has reduced the economic advantages of developed countries.
• B)globalization is starting to offer less advantage to large corporations.
• C)the global economy is increasingly commanded by fewer and larger corporations.
• D)global capitalism is homogenizing culture and business practices throughout the world.
• E)global shipping rates have reached historic lows.

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Definitions:

Amortized

Refers to the process of gradually reducing debt through regular payments that cover both interest and principal over a set period.

Compounded Monthly

This process involves the reinvestment of interest, so each month's interest earning is based on the principal plus the previously earned interest.

Amortized

The gradual reduction of a loan or debt by regular payments of both interest and principal.

Compounded Monthly

A method of calculating interest where the accrued interest is added to the principal sum each month, so that each subsequent interest calculation is made on a slightly higher amount.