While Many Things About the Global Economy Changed During the Latter

question 1

True/False

While many things about the global economy changed during the latter twentieth century,countries that depended on production of raw materials remained poor and vulnerable to economic fluctuations.

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Definitions:

Value of Money

The purchasing power of money, which is the quantity of goods and services that can be purchased with a unit of currency.

Federal Reserve

The central banking system of the United States, responsible for conducting the nation's monetary policy and overseeing its banking system.

Excess Money

The surplus of cash beyond what is needed for immediate expenses or investments.

Price Level

The mean value of current prices for the economy's wide array of goods and services.