Globalization in the Twenty-First Century Is Characterized By

question 34

Multiple Choice

Globalization in the twenty-first century is characterized by:

• A) the movement of labor across the world quickly and efficiently to those places it is most needed.
• B) the rise of the West,with U.S.and European financial centers dominating global trade.
• C) the emergence of new markets,new means of exchange,new players,and new rules that are intensifying worldwide interdependencies.
• D) fusions of previous economic forms,such as feudalism and bartering.

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Definitions:

Taxable Income

The amount of income used to determine how much tax an individual or a corporation owes to the government.

Federal Income Tax

A charge imposed by the IRS on the yearly income of individuals, corporations, trusts, and various legal bodies.

Book Depreciation

The method of allocating the cost of a physical or tangible asset over its useful life for accounting and tax purposes.

Earnings and Profits

A measure used in corporate tax to assess the ability of a corporation to make distributions to its shareholders that are not considered a return of capital.