What is a key argument made by proponents of economic globalization?
Understand the Problem
The question asks for a key argument made by proponents of economic globalization, presenting multiple-choice options that provide different perspectives on its effects.
Answer
It leads to more efficient division of labor and higher standards of living.
The final answer is: It leads to more efficient division of labor and higher standards of living.
Answer for screen readers
The final answer is: It leads to more efficient division of labor and higher standards of living.
More Information
Proponents argue that economic globalization facilitates the efficient allocation of resources, promotes specialization, and results in better access to goods and services, thus enhancing living standards.
Tips
A common mistake is confusing the purported benefits with the criticisms of globalization, such as increased inequality.
Sources
- Globalization: A Brief Overview - International Monetary Fund (IMF) - imf.org
- Globalization Benefits and Challenges - velocityglobal.com
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