Answered: Globalization can accelerate the spread…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter18: Globalization

Section: Chapter Questions

Problem 11E

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Globalization can accelerate the spread of COVID-19 pandemic. Hence, many countries took emergency measures to stop the propagation of the virus by blocking their national borders. Compare the effect of globalization in the precrisis and post-crisis on economic growth.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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