Which of the following correctly describes globalization? (1 point) Which of the following is a concern for national sovereignty that is brought about by globalization trends? (1 point) O Globalization is the process of decreasing per-unit costs with increasing production. The domestic businesses of individual countries O may struggle to compete with large international Globalization is the increase in the value of firms. knowledge and information within an economy. The residents of individual countries may be O impacted by economic events on the other side of Globalization is the process of integration among the world. individuals, businesses, and governments. The domestic consumers of individual countries O Globalization is the increase in income inequality may struggle to afford the high prices of within developed countries. international trade. Which of the following is an example of economies of scale? O The governments of individual countries may face (1 point) restrictions in setting their own trade policies. A business increases its production of widgets, The United States' Gini coefficient increased from 41.0 in 2013 to and the total cost of production decreases. 41.4 in 2016. Which of the following correctly interprets this increase? (1 point) O A business increases its production of widgets, and the cost of producing each widget decreases. O The increase in the Gini coefficient reflects an increase in income for high-income earners. O A business decreases its production of widgets, and the total cost of production decreases. O The increase in the Gini coefficient reflects a decrease in income inequality. O A business decreases its production of widgets, and the cost of producing each widget decreases. O The increase in the Gini coefficient reflects a decrease in income for low-income earners. Which of the following explains why many small businesses O The increase in the Gini coefficient reflects an struggle to compete with larger firms? (1 point) increase in income inequality. Small businesses are unable to sell their goods at the higher prices set by larger firms. Small businesses are unable to offer the same O variety of products that larger firms are able to produce. Small businesses are unable to provide the kinds of products that consumers want. O Small businesses are unable to specialize to the degree that larger firms are able to