What country has seen a relative decline in its share of world output between 1960 and 2018? A) United States B) Brazil C) Thailand D) China E) South Korea
Connor assured his foreign counterpart that the items would be shipped from St. Louis, Missouri, and arrive in about ten days to Lisbon, Portugal because the parts would stay in the same packing crate and be lifted directly from the truck onto the airplane rather than having to be repackaged. What innovation is Connor referring to? A) logistics B) communication C) containerization D) sustainability E) customization
Which statement reflects the changing demographics of the global economy? A) U.S. dominance in export markets has waned as Japan, Germany, and a number of newly industrialized countries have taken a larger share of world exports. B) The change in the position of the United States in terms of the share of world output is the result of the absolute decline in the health of the U.S. economy. C) From 1960 to 2010, countries that experienced a large decrease in their share of world output include Japan, Thailand, Malaysia, Taiwan, and South Korea. D) The United States is the only developed nation to see its relative standing in the share of world output slip. E) Today, roughly half the globe-the centrally planned economies of the communist world-is off-limits to Western international businesses.
The change in the United States' position as a dominant industrial power is characterized as a relative decline because it A) is the direct result of an isolationism policy. B) doesn't account for entrepreneurial activity. C) actually increased compared to some other developed nations. D) accounts for the production of goods and services. E) reflects the faster economic growth of several other economies.