Economic Restructuring That Takes Place as a Result of Opening

question 29

Multiple Choice

Economic restructuring that takes place as a result of opening to trade with other countries

• A)contradicts the idea of gains from trade.
• B)causes some trading activity to be zero sum.
• C)worsens the nation's allocation of resources.
• D)improves the nation's allocation of resources.
• E)is a highly unlikely event.

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Definitions:

Anti-globalization Movement

A social movement critical of economic globalization, arguing it leads to exploitation, environmental degradation, and a loss of national sovereignty.

Occupy Movement

A global protest movement against economic inequality and the influence of corporate money in politics, which started in 2011.

European Union

A political and economic union of 27 European countries that are located primarily in Europe, aiming to promote integration and economic cooperation among its members.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment, poverty, and deflation, affecting many countries globally.