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Question 1 The export/GDP ratio has generally worldwide in recent decades. Select the correct answer below: declined O stayed the same O varied O increased
Question 2 Why do businesses typically support globalization? Select the correct answer below: It allows businesses to create monopolies. It allows businesses to have greater control over prices. O It gives businesses more access to more markets. O It allows businesses to have a more centralized management style.
Question 3 Which of the following is not true of models in the study of economics? Select the correct answer below: Models perfectly mirror real-world situations. Models simplify real world interactions for the purposes of illustration. Models are used to test theories. Economic models are often in the form of graphs.
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Answer #1

Q1. D

Worldwide trade-to-GDP ratio rose from 20% in 1995 to about 30% in 2014 as per the reports of WTO.

Q2. C

Globalisation is the interaction among different global economies. It links various economies, buisnesses thus giving more opportunities to the buisnessmen to access global markets.

Q3. A

Models in economics do not perfactly mirror real world situations. This is due to the fact that various accumptions which are rational but are inconsistant considering the way how ecconomies works.

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