The Pace of Globalism Is Accelerating for All of the Following

question 202

Multiple Choice

The pace of globalism is accelerating for all of the following reasons except

• A) reduced government subsidies.
• B) falling transportation costs.
• C) easier international communication.
• D) falling tariffs.
• E) rising self-sufficiency.

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Definitions:

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for significant differentiation and market power.

Long-Run Equilibrium

A state in which all factors of production and markets adjust fully to any changes, resulting in a stable economic environment without excess supply or demand.

Long-Run Equilibrium

A state in which all inputs and outputs in a market are fully adjusted and there is no tendency for change, often associated with perfect competition markets.