All of the Following Led to Increasingly Globalized World Trade

question 20

Multiple Choice

All of the following led to increasingly globalized world trade in the nineteenth century EXCEPT the:

• A)use of steamships.
• B)growth of railroads.
• C)creation of new colonies in Africa.
• D)invention of the telegraph.
• E)adoption of the gold standard.

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Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in preparing financial statements.

Currency Exchange Rates

The value of one currency for the purpose of conversion to another, dictating how much one currency is worth in terms of another.

Operating Expense

Expenses incurred through normal business operations, such as rent, utilities, and payroll.

Exchange Rate

The price of one currency in terms of another, determining how much of one currency can be exchanged for another.