Relatively Rapid U

question 6

Multiple Choice

Relatively rapid U.S. growth between 2002 and 2007 contributed to large U.S. trade deficits by

• A)increasing U.S. national income, which decreased U.S. exports.
• B)reducing real interest rates in the United States.
• C)increasing U.S. tax revenues and reducing the federal budget deficit.
• D)increasing U.S. national income, which increased U.S. imports.

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Definitions:

Globalization

The method of connecting and merging among individuals, corporations, and nations globally, frequently propelled by global commerce and investment and facilitated by information technology.

Cultural Differentialism

The perspective that cultures are distinctly different from one another and should be evaluated on their own terms rather than through the lens of another culture.

Cultural Convergence

The phenomenon where different cultures grow more similar over time due to influences like media, technology, and increased global interactions.

McDonaldization

A concept that describes the process by which the principles of the fast-food industry, such as efficiency and standardization, dominate other sectors of society.