One of the Consequences of Globalization That Is Appreciated by People

question 103

Multiple Choice

One of the consequences of globalization that is appreciated by people from developing countries is that:

• A)a world rich in diversity is receding into history.
• B)their domestic industries are protected from foreign competition.
• C)the interest levels in their country has improved.
• D)their standard of living has increased by the progress.

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Definitions:

Structural Unemployment

Unemployment caused by a mismatch between the skills or location of workers and the requirements of the job market.

Frictional Unemployment

Short-term unemployment that occurs when individuals are between jobs or entering the labor market for the first time.

Consumer Price Index

A gauge that assesses the combined average prices of a variety of consumer products and services, encompassing transportation, food, and medical attention.

Cyclical Unemployment

This type of unemployment is caused by the downturns in the business cycle, where workers lose their jobs due to a lack of demand during economic recessions.