Multiple Choice
Which of the following presents the correct picture of the outcome of increased world trade after the 1950s, contrary to Servan-Schreiber's prediction?
A) Third World countries were excluded from this economic growth leading to stark imbalances in wealth.
B) The European Union became the center of world trade, taking the position away from the U.S.
C) The U.S. attained a positive balance of trade scenario in the 1950s and maintained it continuously till the Great Recession.
D) Economic power and potential became more evenly distributed among the countries of the world.
E) SDRs and gold lost their utility as the basic medium of financial exchange and most monetary statistics started relating to the U.S dollar.
Correct Answer:
Verified
Correct Answer:
Verified
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