B. Major economic organizations act as connection points for the global economy and provide a buffer for the governments of competing nations.
Major economic organizations such as the World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO) play a crucial role in the modern economy by facilitating trade, providing financial assistance, and promoting economic stability on a global scale. These organizations help to regulate international trade, provide financial resources to countries in need, and create a platform for countries to collaborate and address economic challenges collectively. By serving as connection points for the global economy, these organizations help to prevent economic conflicts and promote cooperation among nations.
Explain the role of major economic organizations in the modern economy.(1 point) Responses
A. Major economic organizations act as connection points for the economy of a specific nation and provide a buffer for the governments of competing nations.
B. Major economic organizations act as connection points for the global economy and provide a buffer for the governments of competing nations.
C. 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.
D. 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.
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