The world has never been more deeply connected by commerce, communication, and travel than it is today. Consider that back in 1990, the total value of global flows of goods, services, and finance amounted to $5 trillion, or 24 percent of world GDP. There were some 435 million international tourist arrivals, and the public Internet was in its infancy. Fast forward to 2014: some $30 trillion worth of goods, services, and finance, equivalent to 39 percent of GDP, was traded across national boundaries and borders. Still, as we have seen throughout this module, expanding globalization poses fundamental challenges, including all of the following except and . A) The expanding convergence of ideas and ideals across the world lessens the need to call upon cross national coordination to regulate the benefits and costs of globalization. B) Companies can enter new markets, but they are exposed to pricing pressures, aggressive global competitors, and disruptive digital business models C) Students can educate themselves online from anywhere on earth, but their view into other societies can heighten their impatience with bleak job prospects at home. D)Social media creates global communities that promotes increasing cooperation and harmony among fragmenting networks of extremists to connect.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The world has never been more deeply connected by commerce, communication, and travel than it is today.

Consider that back in 1990, the total value of global flows of goods, services, and finance amounted to $5 trillion, or 24 percent of world GDP.

There were some 435 million international tourist arrivals, and the public Internet was in its infancy. Fast forward to 2014: some $30 trillion worth of goods, services, and finance, equivalent to 39 percent of GDP, was traded across national boundaries and borders.

Still, as we have seen throughout this module, expanding globalization poses fundamental challenges, including all of the following except __________ and __________.

A) The expanding convergence of ideas and ideals across the world lessens the need to call upon cross national coordination to regulate the benefits and costs of globalization.

B) Companies can enter new markets, but they are exposed to pricing pressures, aggressive global competitors, and disruptive digital business models

C) Students can educate themselves online from anywhere on earth, but their view into other societies can heighten their impatience with bleak job prospects at home.

D)Social media creates global communities that promotes increasing cooperation and harmony among fragmenting networks of extremists to connect.

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