Which of the Following Statements About the Growth (Or Lack

question 19

Multiple Choice

Which of the following statements about the growth (or lack of growth) of globalization is accurate?

• A) All international trade only accounts for about 25 percent of global GDP.
• B) Developing countries still constitute less than a quarter of world GDP when measured by purchasing power parity.
• C) Despite predictions to the contrary, global inequality has remained steady or grown slightly over the last three decades.
• D) Globalization has largely ended the need for concentration of tech development in single locations like Silicon Valley.

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Definitions:

Income

The total money received by an individual or household from various sources, including wages, salaries, benefits, and investments.

Convex Preferences

In consumer theory, these are preferences where blends or combinations of two goods are preferred to extreme allocations, reflecting a desire for balance.

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing the combination of two goods that give the same level of satisfaction to the consumer.

Mosquito Bites

These are the itchy and often red swellings caused on the skin due to the reaction to the saliva of mosquitoes when they bite to feed on blood.