Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Question
Chapter 2, Problem 1DQ
To determine
The reason for the U.S to remain as the biggest national economy of the world.
Expert Solution & Answer
Explanation of Solution
United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.
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Chapter 2 Solutions
Economics: Principles & Policy
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Similar questions
- Globalization has also led to the growth of __________, which are large multinational corporations that operate in multiple countries around the world. These corporations have significant economic power and influence and are key players in the global economy, affecting trade, investment, and employment patterns.**- A) conglomerates- B) startups- C) state-owned enterprises- D) transnational corporations.arrow_forwardWhy is a country better off not isolating itself from all other countries?arrow_forwardexplain globalization as a process, a condition, and an ideology. in simple words.arrow_forward
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