The First Phase of Globalization Was Characterized by the ________

question 65

Multiple Choice

The first phase of globalization was characterized by the ________.

• A) rise of steel production
• B) rise of SMEs
• C) dominance of MNEs in the agricultural industry
• D) growth of railroads

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Definitions:

Interest Rate

The proportion of a total amount of money that is levied for borrowing it, commonly stated as a yearly percentage rate.

Loanable Funds

The money available for borrowing, which comes from savings and is demanded by borrowers for investment.

Usury Law

Legal regulations that cap the maximum interest rate that can be charged on loans, intended to protect consumers from excessively high rates.

Maximum Interest Rate

The highest rate of interest that can be charged on loans and credit products, often regulated by law to protect consumers from excessively high rates.