Question: (9) What is the difference between standardization and adaptation in the context of globalization? (2 points) (10) The GDP of United States is about $20

(9) What is the difference between standardization and adaptation in the context of globalization? (2 points)

(10) The GDP of United States is about $20 Trillion.

Assuming 330 million citizens, what is the per capita income?

Assuming 20 percent of per capita is available as disposable income, what is the disposable income per person? (4 points)

(11) Define currency devaluation and balance of payments. (3 points)

(12) Indias GDP is $3 trillion, and Chinas $12 trillion. Assuming annual growth rates 8 percent in both the countries, will India catch up with China in GDP size? Explain your answer. (3 points)

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