Explain the role of major economic organizations in the modern economy.(1 point)

Question

Responses

Major economic organizations act as connection points for the economy of a specific nation, which is why they can cause tension between governments, as their bias is toward a single nation.
Major economic organizations act as connection points for the economy of a specific nation, which is why they can cause tension between governments, as their bias is toward a single nation.

Major economic organizations act as connection points for the global economy and provide a buffer for the governments of competing nations.
Major economic organizations act as connection points for the global economy and provide a buffer for the governments of competing nations.

Major economic organizations act as connection points for the global economy, but can also cause tension between the governments of competing nations due to economic rivalries.
Major economic organizations act as connection points for the global economy, but can also cause tension between the governments of competing nations due to economic rivalries.

Major economic organizations act as connection points for the economy of a specific nation and provide a buffer for the governments of competing nations.
Major economic organizations act as connection points for the economy of a specific nation and provide a buffer for the governments of competing nations.

Answer 1

The most accurate response is:

Major economic organizations act as connection points for the global economy, but can also cause tension between the governments of competing nations due to economic rivalries.

This statement reflects the dual role of major economic organizations, such as the International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO), in facilitating international trade, investment, and cooperation while also acknowledging the potential for conflict arising from economic competition among nations. These organizations work to promote stability and growth on a global scale, but their policies and decisions can sometimes favor certain countries or economic blocs, leading to tensions between nations with differing economic interests.