Though its influence began to decline in the first decade of the twenty-first century,"globalization" of the economy had been the driving force in the great prosperity of the 1950s and 1960s.

Question

Quizplus · Accepted Answer

The statement is false. The term "globalization" was not in use during the 1950s and 1960s, and the great prosperity of that era was largely due to factors such as post-war rebuilding, technological advances, and government spending. The term "globalization" became more commonly used in the 1980s and 1990s to describe the increasing interconnectedness of the world economy through trade, investment, and technology.

Though Its Influence Began to Decline in the First Decade