Related questions
Following the Second World War and prior to about 1980 most western economies?
a. Had low income tax rates and flexible labour markets
b. experience several significant economic downturn similar to the depression of the 1930s
c. had a high level of government involvement and economic management
d. how to open borders so that goods, services and people move freely around the world
d. had open borders so that goods, services and people moved freely around the world.
Explanation:
After the end of the Second World War, the majority of western economies adopted open borders, making it possible for people, products, and services to freely circulate throughout the world. This was in contrast to the time before the war, when many countries had closed their borders in an effort to shield their own economies from the consequences of the Great Depression. This occurred during the period of time when the war was being fought.
The years immediately following the end of the war were marked by robust rates of economic expansion and widespread prosperity. This was owing in part to the fact that nations were able to engage in unrestricted commerce with one another and reap the benefits of labor specialization. This time of expansion and prosperity came to an end in the early 1980s, when many western economies began to encounter serious economic issues, which signaled the end of this age of progress and prosperity.
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Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co