The Process of Countries Becoming More Open to Foreign Trade

question 53

Multiple Choice

The process of countries becoming more open to foreign trade and investment is known as

• A) autarky.
• B) foreign exchange.
• C) globalisation.
• D) protectionism.

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Definitions:

Economic Prosperity

A state of flourishing financial health and growth, marked by a high level of income, low unemployment, and sustainable development.

1920s

A decade marked by significant cultural, economic, and political changes worldwide, known for economic prosperity, the Prohibition era, and the Jazz Age in the United States.

1950s

A decade marked by post-World War II recovery, significant cultural shifts, economic prosperity in the West, and the heightening of the Cold War.

Suburban Middle-Class

A socioeconomic group characterized by moderate income and standard of living, typically residing in suburban areas outside of major urban centers.