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

Question

Responses

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 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 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 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 would be:

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

This response captures the dual role of major economic organizations, such as the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank. They facilitate international trade, investment, and economic cooperation, helping to connect economies around the world. Additionally, by promoting dialogue and providing platforms for negotiation, these organizations can help mitigate tensions between nations, offering a structured means to address economic disputes and fostering collaboration that can ease rivalries.