It Has Been Argued That, Under Recent Conditions of Globalization

question 44

Multiple Choice

It has been argued that, under recent conditions of globalization, the economies of industrialized nations will need to rely on services and products to be provided by, for example:

• A) Sweatshop labourers
• B) Manufacturers
• C) Consultants, programmers, researchers
• D) Assembly-line workers
• E) Migrant farmers

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Definitions:

Net Capital Outflow

The difference between the purchase of foreign assets by domestic residents and the purchase of domestic assets by foreigners over a certain period.

Net Exports

The net amount obtained by subtracting the total imports from the total exports of a country.

Internationalized

The process of designing products, services, or operations to facilitate operation or distribution in multiple countries.

Budget Deficit

The financial shortfall when a government's expenditures exceed its revenues over a specified period.