Which of the Following Has Most Contributed to the Globalization

question 61

Multiple Choice

Which of the following has most contributed to the globalization of the economy?

• A)tariffs and trade barriers
• B)reductions in transportation and communication costs
• C)the decline in the relative importance of manufacturing
• D)the decreased importance of agriculture
• E)the shift toward a market economy in China

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Definitions:

Regressive

Describing taxes or policies that take a larger percentage from low-income earners than from high-income earners.

Progressive Structure

A tax system where the tax rate increases as the taxable base amount increases, often applied to income tax.

Income-tax System

A government system for assessing and collecting taxes on the income of individuals and businesses.

Ability-to-pay Principle

A taxation principle suggesting that taxes should be levied according to an individual's or entity's capacity to pay, typically measured by income or wealth.