The Decline of the U

question 97

Multiple Choice

The decline of the U.S.in its dominance of the global economy can be explained by two factors.These are:

• A)the globalization of the world economy and China's rise to the top rank of economic powers
• B)the fall of communism in Eastern Europe and the republics of the former Soviet Union and Japan's rise to the top rank of economic powers
• C)the globalization of the world economy and Japan's rise to the top rank of economic powers
• D)a decrease in trade barriers worldwide and China's rise in economic power
• E)the growth of democratic institutions in China

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Definitions:

Inflation Rate

How fast prices for goods and services overall go up, causing the value of money to go down.

Real Price

The price of a good or service after adjusting for inflation, reflecting the true purchasing power.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Structural Steel Beams

Steel shapes used in construction that are designed to bear heavy loads and form the skeleton of buildings and bridges.