In What Ways Has Globalization Affected the Economic and Social

question 16

Multiple Choice

In what ways has globalization affected the economic and social condition of developing countries?

• A) Under globalization, there have been no notable changes in the economic, political, or social conditions among low-income countries but diplomatic relations between low- and high-income countries have improved.
• B) Under globalization, political and economic stability prevails and emigration and immigration rates have slightly increased.
• C) Under globalization, economic growth has fallen and global inequality has increased.
• D) Under globalization, low-income countries have experienced an upturn in economic growth and improved diplomatic relations between low- and high-income countries.

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Definitions:

Tariff

A tax imposed by a government on goods and services imported from other countries, often used to protect domestic industries from foreign competition.

International Trade

International Trade involves the exchange of goods and services across international boundaries, driven by the principles of comparative advantage and market demand.

Tariffs

Taxes imposed by a government on imported goods.

Comparative Advantage

The capacity of a nation or company to generate a specific product or service with a smaller opportunity cost compared to its rivals.