Which of the Following Statement Pertaining to Changes in the Global

question 52

Multiple Choice

Which of the following statement pertaining to changes in the global economy of the 21^st century is not true?

• A)Barriers to the free flow of goods,services,and capital have been coming down.
• B)Volume of cross-border trade and investment has been growing more rapidly than global output.
• C)National economies are becoming more independent and moving away from the global economic system.
• D)As economies advance,more nations are joining the ranks of the developed world.

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Definitions:

Public Good

A product or service offered for free to all society members, by either the government or a private entity, without the intent of making a profit.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available for everyone to use and one person's use does not reduce availability to others.

Private Goods

Goods that are both rivalrous and excludable, meaning consumption by one person reduces availability for others and access can be restricted.

Tragedy of the Commons

A situation in which individual users, acting independently according to their own self-interest, deplete or spoil shared resources, even though it is contrary to the group's long-term interests.