The Globalization Gap Is Where Large Multinational Corporations and Industrialized

question 8

Short Answer

The globalization gap is where large multinational corporations and industrialized nations gain ____ from the benefits of globalization.

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Definitions:

Frictional Unemployment

Short-term unemployment occurring when individuals are between jobs or are seeking their first jobs.

Prosperity Phase

A period in the business cycle characterized by economic growth, high employment, and rising incomes.

Three-Phase Cycle

A conceptual model describing the three stages of economic cycles: expansion, peak, and recession.

OPEC

The Organization of the Petroleum Exporting Countries, an intergovernmental organization of oil-exporting countries that coordinates and unifies petroleum policies among Member Countries.