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.Management Sciences
Category: The International Economy And Globalization
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
Which American industry has least been affected by import competition in recent years ?
A. Automobiles
B. Steel
C. Radios and TVs
D. Computer software
Economic transition involves high inflation because _____ and ______?
A. high monetary growth high wages
B. high budget deficits devaluation
C. high monetary growth devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue
A main advantage of specialization results from ?
A. Economies of large-scale production
B. The specializing country behaving as a monopoly
C. Smaller production runs resulting in lower unit costs
D. High wages paid to foreign workers
International specialization takes place because of______________?
A. differences in technology
B. differences in factor endowments
C. scale economies
D. All of the above
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