American Critics of Globalization Contend That It Has

question 75

Multiple Choice

American critics of globalization contend that it has:

• A) increased the price of U.S. goods.
• B) slowed the pace of technological advancement.
• C) led to significant losses in U.S. manufacturing jobs.
• D) flooded the free market with goods that Americans do not want.
• E) forced Americans to pay higher interest rates and businesses to pay higher taxes.

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Definitions:

Mental

Pertaining to the mind or to mental states, processes, and faculties.

Nature

The physical world and everything in it that is not made by human beings, including plants, animals, and landscapes.

Invisible Hand

A term coined by Adam Smith to describe the self-regulating nature of the marketplace, where individuals' pursuit of their own self-interest often leads to beneficial effects for the society as a whole.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his works "The Wealth of Nations," which is considered the foundation of modern economic theory.