According to the passage, all of the following are elements of the shifting world economy EXCEPT

an alteration in the role played by governments

No worries! We‘ve got your back. Try BYJU‘S free classes today!

an increase in interaction between national governments and international regulatory institutions

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

an increase in the formation of multinational trading alliances

No worries! We‘ve got your back. Try BYJU‘S free classes today!

an increase in integration in the two richest markets of the world

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B an increase in interaction between national governments and international regulatory institutions
Option B… The passage quotes“As the economic role of multinational, global corporations expands, the international economic environment will be shaped increasingly not by governments or international institutions…” This solution can be taken verbatim from the passage

Suggest Corrections

Similar questions

Q. As the economic role of multinational, global corporations expands, the international economic environment will be shaped increasingly not by governments or international institutions, but by the interaction between governments and global corporations, especially in the United States, Europe, and Japan. A significant factor in this shifting world economy is the trend toward regional trading blocs of nations, which has a potentially large effect on the evolution of the world trading system. Two examples of this trend are the United States-Canada Free Trade Agreement (FTA) and Europe 1992, the move by the European Community (EC) to dismantle impediments to the free flow of goods, services, capital, and labor among member states by the end of 1992. However, although numerous political and economic factors were operative in launching the move to integrate the EC’s markets, concern about protectionism within the EC does not appear to have been a major consideration. This is in sharp contrast to the FTA; the overwhelming reason for that bilateral initiative was fear of increasing United States protectionism. Nonetheless, although markedly different in origin and nature, both regional developments are highly significant in that they will foster integration in the two largest and richest markets of the world, as well as provoke questions about the future direction of the world trading system.
Q. According to the passage, all of the following are elements of the shifting world economy EXCEPT

Read the following passage and answer the question that follows.

As the economic role of multinational, global corporations expands, the international economic environment will be shaped increasingly not by governments or international institutions, but by the interaction between governments and global corporations, especially in the United States, Europe, and Japan. A significant factor in this shifting world economy is the trend toward regional trading blocs of nations, which has a potentially large effect on the evolution of the world trading system. Two examples of this trend are the United States-Canada Free Trade Agreement (FTA) and Europe 1992, the move by the European Community (EC) to dismantle impediments to the free flow of goods, services, capital, and labor among member states by the end of 1992. However, although numerous political and economic factors were operative in launching the move to integrate the EC’s markets, concern about protectionism within the EC does not appear to have been a major consideration. This is in sharp contrast to the FTA; the overwhelming reason for that bilateral initiative was fear of increasing United States protectionism. Nonetheless, although markedly different in origin and nature, both regional developments are highly significant in that they will foster integration in the two largest and richest markets of the world, as well as provoke questions about the future direction of the world trading system.

According to the passage, which of the following is TRUE?

Q. The Human Rights gained importance along with the increase in democratic governments of the world.

Q. Statement 1: Many developing countries are shifting towards globalisation. This involves increasing integration of economies in terms of goods and services, ideas, information, and technology.

Statement 2: The presence of multinational corporations is said to have widened the gap between the rich and the poor in developing nations.

Read the statements carefully and choose the correct option below.

Q. Purchase or sale of government securities by the Central bank from the general public in the bond market, in a bid to increase or decrease the money supply in the economy is referred to as ________.

Join BYJU'S Learning Program