Bhagwati and Hudec Argue That Globalization Is Good for the World's

question 160

Multiple Choice

Bhagwati and Hudec argue that globalization is good for the world's environment because:

• A) protectionism leads to a "race to the bottom."
• B) multinational corporations have higher environmental and labor standards than developing countries.
• C) poorer countries have a more natural concern about the health of their environment.
• D) multinational corporations are trying to create a world government that will enforce strict environmental controls.

---

Definitions:

Owner's Equity

Owner's equity represents the owner's claim to the assets of a business after all liabilities have been subtracted.

Owner Investments

Owner investments, also known as owner contributions, refer to money or other assets that owners put into their business for its use.

Revenues

The total income generated from normal business operations and other activities before any expenses are subtracted.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.