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.Management Sciences
Category: The International Economy And Globalization
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
Tariffs ?
A. Decrease the domestic price of a product
B. Increase government earnings from tax
C. Increase the quantity of imports
D. Decrease domestic production
A feasible effect of international trade is that a (an) ?
A. Monopoly in the home market becomes an oligopoly in the world market
B. Oligopoly in the home market becomes a monopoly in the world market
C. Purely competitive firm in the home market becomes an oligopolist
D. purely competitive firm in the home market becomes a monopolist
One of the main advantages of trade economists suggest is ?
A. technological change
B. competitions with foreign suppliers
C. development of tourism
D. lower tariffs
International trade forces domestic firms to become more competitive in terms of ?
A. The introduction of new products
B. Product design and quality
C. Product price
D. All of the above
A country has a comparative advantage in the production of a product if the good’s _____ cost in different from the good’s _____ cost in another country ?
A. resource; resource
B. foreign exchange money
C. opportunity; opportunity
D. money; opportunity
The imposition of a tariff causes consumption to _____ and imports to _________?
A. rise, rise
B. fall, rise
C. fall, fall
D. rise, fall
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