Which of the following is true regarding the effects of globalization in the 21st century and global inequality? Although the number of people living in extreme poverty decreased, this did not have a measurable effect on inequality overall. The economic recession of 2008 and the economic recovery in 2013 slowed the growth of incomes of the wealthiest people in the world while the number of people living in extreme poverty decreased. During this period, global inequality increased, the world now has both more billionaires and more people living in extreme poverty than it did before. As global companies moved manufacturing jobs into poorer countries, they contributed to significant improvements in the incomes, working conditions, and overall quality of life for these workers.

Which of the following is true regarding the effects of globalization in the 21st century and global inequality? Although the number of people living in extreme poverty decreased, this did not have a measurable effect on inequality overall. The economic recession of 2008 and the economic recovery in 2013 slowed the growth of incomes of the wealthiest people in the world while the number of people living in extreme poverty decreased. During this period, global inequality increased, the world now has both more billionaires and more people living in extreme poverty than it did before. As global companies moved manufacturing jobs into poorer countries, they contributed to significant improvements in the incomes, working conditions, and overall quality of life for these workers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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