The Initial Phase of Globalization Was Triggered by the Introduction

question 52

True/False

The initial phase of globalization was triggered by the introduction of the railroads and ocean transport.

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Definitions:

Bond

A bond is a fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental.

Rule Of 70

The Rule of 70 is a calculation method used to estimate the number of years required for an investment or the economy's GDP to double, based on a constant annual growth rate.

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid to the lender over a set period.

Utility Function

A mathematical representation that shows the relationship between the overall satisfaction or happiness a consumer derives from consuming various goods and services.