Question

Which of the Following is true of the Great Transformation of the global economy?

A. It is the tremendous shirt in economic weight and engines of growth toward emerging economies
B. It is the linear story of the high speed economic growth of the developed world
C. Emerging economies unsuccessfully compete with developed nations in terms of weight and influence in the global economy
D. It does not take purchasing power parity into account

Answer 1

The Great Transformation of the global economy refers to the shift in economic weight and engines of growth towards emerging economies, challenging the dominance of developed nations. It takes into account purchasing power parity.

Step-by-step explanation:

The Great Transformation of the global economy refers to the significant shift in economic weight and engines of growth toward emerging economies. This means that emerging economies are becoming major players in the global economy, challenging the dominance of developed nations. Examples of this include China's transformation from a poor country to a middle-income country with rapid economic growth. The Great Transformation takes into account purchasing power parity, which measures the relative purchasing power of different currencies.