Globalization is the process of countries becoming more connected over time.
6 months agoReport content

Answer

Full Solution Locked

Sign in to view the complete step-by-step solution and unlock all study resources.

Step 1
: Define the variables and terms involved in the problem.

Let G represent the level of globalization. Let T represent the number of years a country has been going through the globalization process. Let k and b be constants that describe the specific growth rate and initial level of globalization, respectively.

Step 2
: Set up the function for globalization level based on the given information.

G = be^{kT}
The problem states that the level of globalization is an exponential growth function, which can be represented as: Where e is the base of the natural logarithm (approximately equal to 2.71828).

Final Answer

The level of globalization (G) as a function of time (T) is given by the equation: G = be^{kT} Where e is the base of the natural logarithm, b is the initial level of globalization, k is the growth rate constant, and T is the number of years. The level of globalization increases as the number of years increases, approaching infinity as T approaches infinity.