The Globalization Debate Was First Manifested in the 1970s in Wealthy

question 61

True/False

The globalization debate was first manifested in the 1970s in wealthy countries as a concern about deindustrialization

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Definitions:

Economic Recession

A period of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in two successive quarters.

Business Cycle

The natural fluctuation of economic activity over time, marked by periods of expansion, peak, contraction, and trough.

Recovery Stage

A phase in the economic cycle or in the lifecycle of a project where performance begins to improve after a period of decline or recession.

Business Spending

The expenditure by businesses on goods and services, including capital goods and labor.