Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 24, Problem 1VQP
To determine
The three driving forces of globalization.
Expert Solution & Answer
Explanation of Solution
The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.
- a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
- b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
- c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.
Economics Concept Introduction
Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.
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Chapter 24 Solutions
Macroeconomics (Book Only)
Ch. 24.4 - Prob. 1STCh. 24.4 - Prob. 2STCh. 24.4 - Prob. 3STCh. 24.7 - Prob. 1STCh. 24.7 - Prob. 2STCh. 24.8 - Prob. 1STCh. 24.8 - Prob. 2STCh. 24.10 - Prob. 1STCh. 24.10 - Prob. 2STCh. 24.11 - Prob. 1ST
Ch. 24.11 - Prob. 2STCh. 24 - Prob. 1VQPCh. 24 - Prob. 2VQPCh. 24 - Prob. 3VQPCh. 24 - Prob. 4VQPCh. 24 - Prob. 1QPCh. 24 - Prob. 2QPCh. 24 - Prob. 3QPCh. 24 - Prob. 4QPCh. 24 - Prob. 5QPCh. 24 - Prob. 6QPCh. 24 - Prob. 7QPCh. 24 - Prob. 8QPCh. 24 - Prob. 9QPCh. 24 - Prob. 10QPCh. 24 - Prob. 11QPCh. 24 - Prob. 12QPCh. 24 - Prob. 13QPCh. 24 - Prob. 14QPCh. 24 - Prob. 15QPCh. 24 - Prob. 16QPCh. 24 - Prob. 17QPCh. 24 - Prob. 18QPCh. 24 - Prob. 19QPCh. 24 - Prob. 1WNGCh. 24 - Prob. 2WNGCh. 24 - Prob. 3WNG
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