Category: The International Economy And Globalization

A. U.S firms shipping component production overseas
B. High profit levels for American corporations
C. Sluggish rates of productivity growth in the United States
D. High unemployment rates among America workers

A. comparative advantage
B. absolute advantage
C. opportunity cost
D. relative costs

A. Canada
B. Germany
C. Mexico
D. United Kingdom

A. Imported, but not exported
B. Exported, but not imported
C. Imported and exported
D. Neither exported nor imported

A. Increased competition for world producers
B. A wider selection of products for consumers
C. The utilization of the most efficient production methods
D. Relatively high wages levels for all domestic workers

A. occurs when countries are granted most favored nation status
B. occurs when one country voluntarily agrees to reduce its exports to another country
C. occurs when two or more nations join to form a free-trade zone
D. Occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets

A. Increase all domestic costs and prices
B. Keep all domestic costs and prices at the same level
C. Lessen the amount of competition facing home manufacturers
D. Increase the amount of competition facing home manufacturers

A. International movements of capital
B. International movements of labor
C. International movements of technology
D. Domestic production of different goods and services

A. The less mobile the country’s resources
B. The more mobile the country’s resources
C. The lower the country’s initial living standard
The higher the country’s initial living standard

A. relative factor competition
B. relative factor mobility
C. relative factor substitution
D. relative factor endowments