Question

Which of the following factors has contributed to the expansion of global markets? Group of answer choices

a. stricter labor laws outside the United States
b. onshoring outside the United States
c. multicultural diversity within the United States
d. unification of the European markets

Answer 1

B) Onshoring outside the United States - globalized labor markets allow firms to relocate labor costs to places where wages are lower.

C) Multicultural diversity within the United States - the diverse population of the US, with around 15% of its inhabitants being foreing-born in 2015, means that the demand for imports in the US is high, as well as remittances.

D) Unification of the European Markets - this unification in Europe, either through the customs union, the common economic area, or the Eurozone, has helped globalized the world. For example, Germany does not negotiate trade deals directly with other countries, it does it under the umbrella of the European Union.