1. Patterns of trade among nations are primarily determined by a. cultural considerations. b. political considerations....
1.
Patterns of trade among nations are primarily determined by
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About what percent of total world trade is accounted for by countries that belong to the World Trade Organization?
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Homework Answers
Answer:
1)
Option C: Comparative advantage
Comparative advantage is an economic term that refers to an nation's ability to produce goods and services at a lower opportunity cost than that of trade partners.
2) Option D : 97%
Add Answer to:
1.
Patterns of trade among nations are primarily determined by
a.
cultural considerations.
b.
political considerations....
The law of comparative advantages explains why: A. Less-developed countries only trade among themselves B. Nations...
The law of comparative advantages explains why: A. Less-developed countries only trade among themselves B. Nations erect trade barriers C. Advanced nations will not trade with less-developed countries D. An advanced nation will not trade with other countries E. Nations trade with each other, regardless of their relative levels of economic development
Question 46 (Mandatory) (1 point) Differences in production efficiencies among nations in producing a particular good...
Question 46 (Mandatory) (1 point) Differences in production efficiencies among nations in producing a particular good result from different endowments of fertile soil. different amounts of skilled labor. different levels of technological knowledge. all of these. Question 47 (Mandatory) (1 point) Countries engaged in international trade specialize in production based on relative levels of GDP. comparative advantage. relative exchange rates. relative inflation rates.
QUESTION 15 Regional trading bloc agreements: a. are required by World Trade Organization rules. b. exist...
QUESTION 15 Regional trading bloc agreements: a. are required by World Trade Organization rules. b. exist primarily in Russia, Africa, and South America. c. require all nations in a specified region to trade only with other countries in the same geographic area. d. make special trade deals between countries in that region and discriminate against countries outside the region. e. are not considered trade restrictions.
1) The Heritage Foundation scored which nation of the world among the most repressed in 2018?...
1) The Heritage Foundation scored which nation of the world among the most repressed in 2018? a. Hong Kong. b. Australia. c. North Korea. d. Singapore. 2) The deep anti-Americanism that exists in some parts of the world is thought to be caused by: a. Increased local culture and religious diversity. b. Resentment of cultural penetration from U.S.-based multinational enterprises. c. An upswing in the number of Communist countries in the world. d. Expanded regional health and environmental standards. 3)...
[2] A good or service produced in Country A and sold in Country B is: A)...
[2] A good or service produced in Country A and sold in Country B is: A) an import to Country B. B) an export from Country B. C) a secondary purchase for Country B. D) an unaccounted good or service for Country B. [3] Specialization: A) increases dependence on markets and trade. B) permits greater levels of production than would be attained without it. C) both of the above. D) none of the above. [4] You would expect an increase...
QUESTION 53 cultures emphasize the importance of According to Hofstede's researchh on cultural dimensions, relationships, modesty,...
QUESTION 53 cultures emphasize the importance of According to Hofstede's researchh on cultural dimensions, relationships, modesty, caring for the weak, and quality of life. a. economic-based b. feminine c. masculine d. individualistic e. relationship-oriented QUESTION 54 Triston is a company owned by a single other nations. Triston is an example of a(n) owner with headquarters in Switzerland and manufacturing plants in 9 a. joint venture b. multinational corporation C. polycentric organization d. ethnocentric organization franchise e. QUESTION 55 Stardust Inc....
characteristic that tends to affect the probability of trade existing 6) According to the gravity model, a characteri b...
characteristic that tends to affect the probability of trade existing 6) According to the gravity model, a characteri between any two countries is A) their cultural affinity. B) the average weight/value of their traded goods. C) their colonial-historical ties. D) the distance between them. E) the number of different product varieties produ of different product varieties produced by their industries. 7) Why does the gravity model work? A) Large economies became large because they wer B) Large economies have relatively...
and published in 1) Historians of economic thought often describe written by as the first real...
and published in 1) Historians of economic thought often describe written by as the first real exposition of an economic model. A) "Of the Balance of Trade," David Hume, 1776 B) "Wealth of Nations," David Hume, 1758 C) "Wealth of Nations," Adam Smith, 1758 D) "Wealth of Nations," Adam Smith, 1776 E) "Of the Balance of Trade," David Hume, 1758 2) An important insight of international trade theory is that when two countries engage in voluntary trade A) one country...
1 .Which concept represents the broadest view? Trade Surplus Globalization International Business 2 If you are...
1 .Which concept represents the broadest view? Trade Surplus Globalization International Business 2 If you are able to produce 1 piece of fine furniture or 10 birdhouses using the same resources, and your competitor is able to produce 5 pieces of fine furniture or 10 birdhouses using the same resources, who has the comparative advantage? You Neither Your competitor in fine furniture 3 When conducting business in a market of comparative advantage, trading partners will realize: decreased demand for products....
1. International trade... a. Shifts a country's production possibility frontier outwards b. Shifts a country's production...
1. International trade... a. Shifts a country's production possibility frontier outwards b. Shifts a country's production possibility frontier inwards c. Moves production within a country's production possibility frontier d. Enables a country to consume outside of its production possibility frontier 2. A customs union... a. Allows members to determine their own trade policies with each other b. Allows members to determine their own trade policies with non-member countries c. Has free trade among member countries but common trade policies with...
Question 46 (Mandatory) (1 point) Differences in production efficiencies among nations in producing a particular good result from different endowments of fertile soil. different amounts of skilled labor. different levels of technological knowledge. all of these. Question 47 (Mandatory) (1 point) Countries engaged in international trade specialize in production based on relative levels of GDP. comparative advantage. relative exchange rates. relative inflation rates.
QUESTION 53 cultures emphasize the importance of According to Hofstede's researchh on cultural dimensions, relationships, modesty, caring for the weak, and quality of life. a. economic-based b. feminine c. masculine d. individualistic e. relationship-oriented QUESTION 54 Triston is a company owned by a single other nations. Triston is an example of a(n) owner with headquarters in Switzerland and manufacturing plants in 9 a. joint venture b. multinational corporation C. polycentric organization d. ethnocentric organization franchise e. QUESTION 55 Stardust Inc....
characteristic that tends to affect the probability of trade existing 6) According to the gravity model, a characteri between any two countries is A) their cultural affinity. B) the average weight/value of their traded goods. C) their colonial-historical ties. D) the distance between them. E) the number of different product varieties produ of different product varieties produced by their industries. 7) Why does the gravity model work? A) Large economies became large because they wer B) Large economies have relatively...
and published in 1) Historians of economic thought often describe written by as the first real exposition of an economic model. A) "Of the Balance of Trade," David Hume, 1776 B) "Wealth of Nations," David Hume, 1758 C) "Wealth of Nations," Adam Smith, 1758 D) "Wealth of Nations," Adam Smith, 1776 E) "Of the Balance of Trade," David Hume, 1758 2) An important insight of international trade theory is that when two countries engage in voluntary trade A) one country...
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