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.Management Sciences
Category: The International Economy And Globalization
All of the following represent obstacles to LDC development except ?
A. resource scarcity
B. low levels of investment
C. low population
D. poor infrastructure
E. poor human capital
A primary reason why nations conduct international trade is because ?
A. Some nations prefer to produce one thing while others produce another
B. Resources are not equally distributed to all trading nations
C. Trade enhances opportunities to accumulate profits
D. interest rates are not identical in all trading nations
Major trading partners of the United States including all of the following countries except ?
A. Canada
B. Mexico
C. China
D. North Korea
Output fell sharply in the transition economies because ?
A. banks were unable to function
B. there was little corporate control
C. vital infrastructure was missing
D. All of the above
A sudden shift from import tariffs to free trade may induce short-term unemployment in ?
A. Import-competing industries
B. Industries that are only exporters
C. Industries that sell domestically as well as export
D. industries that neither import nor export
Government payments made to domestic firms in order to encourage exports are called ?
A. Side payments
B. Tariffs
C. subsidies
D. export quotas
For the United states, exports plus imports are about _____ of its gross national product?
A. 5 percent
B. 10 percent
C. 25 percent
D. 55 percent
If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?
A. an import subsidy
B. a quota
C. comparative advantage
D. an export subsidy
If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?
A. a quota
B. dumping
C. a tariff
D. an export subsidy
International difference is opportunity costs lead to countries acquiring ?
A. Comparative advantage
B. High exchange rates
C. trade barriers
D. trade quotas
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