According to the article, with insufficient demand, nations compete furiously fo

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According to the article, with insufficient demand, nations compete furiously for their share of the dimishing global growth pie. All look to borrow growth from somewhere else. Nearly a half century ago, the undisputed champion of global growth was the United States-it held all the cards: an unscathed post-WWII industrial base, an acknowledged Bretton Woods reserve currency and an educated workforce able to out-innovate any and all competitors. No wonder our policies encouraged open markets and free trade policies that would only feed the United States hegemon. At some point in the- however, the rest ofv the world began to catch up. Japan produced better cars than Detroit, the Iron Curtain fell, and the rise of china was soon to rock American/developed economies out of their preumption that te world was their export oyster. Billy Joel's Allentown was transformed from an iron and coke/chromium steel behemoth into an unemployment center, filling out forms-standing in line. According to the article, if, in fact, the solution to how we can reclaim the vision of Ronald's "shining hill" and the Allentown of decades past to "level the playing field, "there are obviously a number of ways to do it. The constructive way is to stop making paper and start making things. Replace subprimes, and yes, Treasury bonds with American cars, steel, iPads, airplanes, corn-whatever the world wants that we can make better and/or cheaper. Learn how to from resource-draining foreign wars. It will be a tough way back, but it can be done with sacrifice and appropriate public policies that encourage-. According to article, politicians and respective electorates focus on taxes or healthcare when the ultimate demon is a lack of global demand and the international competitiveness to thrive. The solution for more jobs is seen as a simple quick step of extending the Bush tax cuts or incenting small businesses to hire additional worksrs, or in the case of Euroland, shoring up government balance sheets with emergency funding. It is not. These policies only temporarily bolster consumption while failing to address the fundamental problem of developed economics:. According to the article, if, in fact, the solution to how we can reclaim the vision of Ronald's "shining hill" and the Allentown of decades past to "level the playing field, "there are obviously a number of ways to do it. The constructive way is to stop making paper and start making things. Replace subprimes, and yes, Treasury bonds with American cars, steel, iPads, airplanes, corn-whatever the world wants that we can make better and/or cheaper. Learn how to from resource-draining foreign wars. It will be a tough way back, but it can be done with sacrifice and appropriate public policies that encourage-. According to article, politicians and respective electorates focus on taxes or healthcare when the ultimate demon is a lack of global demand and the international competitiveness to thrive. The solution for more jobs is seen as a simple quick step of extending the Bush tax cuts or incenting small businesses to hire additional worksrs, or in the case of Euroland, shoring up government balance sheets with emergency funding. It is not. These policies only temporarily bolster consumption while failing to address the fundamental problem of developed economics:.

Explanation / Answer

7)B 8)A 4)C 5)B 6)B 1)A 2)A 3)D

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