What best characterizes the transformation of the American economy that began in the 1970s and continues today?

Question

Quizplus · Accepted Answer

The transformation of the American economy from the 1970s onwards was characterized by increased globalization. This involved the expansion of international trade, foreign investment, and the movement of industries to countries with lower labor costs. Globalization had a significant impact on the American economy, leading to the expansion of multinational corporations, the decline of domestic manufacturing, and an increase in service sector jobs. It also introduced new challenges, such as the outsourcing of jobs and the widening income inequality gap.

What Best Characterizes the Transformation of the American Economy That