Homework Answers
Theory of Comparative Advantage
David Ricardo developed this classic theory in 1817 and it implies that comparative advantage rather than absolute advantage is responsible for much of international trade.
Add Answer to:
Which of the following theories identifies specialization as a reason for international business? Theory of comparative...
Explain international business expansion and Globalization using any two of the following theories listed below. In...
Explain international business expansion and Globalization using any two of the following theories listed below. In your answer please, define the selected theories, use graphs if possible, to illustrate each theory, and provide a real example of companies that may support the validity of each selected theory: 1) Comparative advantage 2) "Follow the customer" hypothesis 3) Product-Cycle Theory (Vernon) 4) The Competitor Analysis (Porter) 5) Eclectic Paradigm ("Internationalization of the firm's competitive advantage")
Trade Theories, a Historical Approach Free trade refers to a situation where a government does not...
Trade Theories, a Historical Approach Free trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country. The economic arguments surrounding the benefits and costs of free trade in goods and services are not abstract academic ones. International trade theory has shaped the economic policy of many nations for the past 50 years. The textbook reviews...
Which economic theory best explains current international trade and why? a) Mercantilism b) Absolute Advantage c)...
Which economic theory best explains current international trade and why? a) Mercantilism b) Absolute Advantage c) Comparative advantage d) Factors Proportions Theory e) International Product Life Cycle f) Porter's Theory of National Competitive
3) Which of the following is NOT a reason why there are gains to specialization? (17pts)...
3) Which of the following is NOT a reason why there are gains to specialization? (17pts) It eliminates many of the costs of switching from one task to another. It further improves skills through experience and practice. It allows individuals to concentrate on the activities in which they have a comparative advantage. It increases the amount productive resources in the economy.
Concerning international trade restrictions, which of the following is false? Trade restrictions: O Limit specialization and...
Concerning international trade restrictions, which of the following is false? Trade restrictions: O Limit specialization and the division of labor Reduce the volume of trade and the gains from trade Cause nations to produce inside their production possibilities curves O May result in a country producing some of the product of its comparative disadvantage
Which of the following is true about specialization and trade?
Which of the following is true about specialization and trade? Select one: a. A country should specialize in and export the good for which it has comparative advantage b. A country should specialize in and export the good for which it has absolute advantage c. A country should specialize in and export the good for which it has both comparative and absolute advantage d. A country should specialize in and import the good for which it has absolute advantage e. A country should specialize in and...
Which of the following is NOT one of the possible benefits for a country that participates...
Which of the following is NOT one of the possible benefits for a country that participates in international trading? OA May bring in needed capital OB. Causes hyper-inflation OC. Creates jobs and raises wages OD. May bring in technology and skills Adam Smith believed that OA market forces should determine trade flows OB countries should produce most goods themselves and trade as little as possible O international trade should be restricted by tariffs and quotas OD governments should determine trade...
Of the corporate governance theories, which one of the following is ‘complementary’ to ‘agency theory’? A)...
Of the corporate governance theories, which one of the following is ‘complementary’ to ‘agency theory’? A) Stakeholder theory B) Political theory C) Stewardship theory D) None of the above
4. Specialization and trade When a country has a comparative advantage in the production of a...
4. Specialization and tradeWhen a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods.The following graphs show the production possibilities frontiers (PPFs) for Freedonia and Desonia. Both countries produce grain and sugar, each initially (i.e., before specialization and trade) producing 12 million pounds of...
Which one of the following is a primary assumption of the free-trade theories of specialization? Group...
Which one of the following is a primary assumption of the free-trade theories of specialization? Group of answer choices Domestic resources are unable to move from the production of one good to another. Countries have objectives other than economic efficiency. Specialization triggers unemployment. Resources are immobile internationally.
3) Which of the following is NOT a reason why there are gains to specialization? (17pts) It eliminates many of the costs of switching from one task to another. It further improves skills through experience and practice. It allows individuals to concentrate on the activities in which they have a comparative advantage. It increases the amount productive resources in the economy.
Concerning international trade restrictions, which of the following is false? Trade restrictions: O Limit specialization and the division of labor Reduce the volume of trade and the gains from trade Cause nations to produce inside their production possibilities curves O May result in a country producing some of the product of its comparative disadvantage
Which of the following is NOT one of the possible benefits for a country that participates in international trading? OA May bring in needed capital OB. Causes hyper-inflation OC. Creates jobs and raises wages OD. May bring in technology and skills Adam Smith believed that OA market forces should determine trade flows OB countries should produce most goods themselves and trade as little as possible O international trade should be restricted by tariffs and quotas OD governments should determine trade...
Most questions answered within 3 hours.
-
To test Upper H 0 : sigma =2.3 versus Upper H 1 : sigma greater
than...
asked 13 minutes ago -
explain using physics theory either one
Why should you not put foil in the microwave? or...
asked 30 minutes ago -
You have purchased a $1,000,000 million Face or Par Value 5-year
T-note. This 5-year T-note pays...
asked 28 minutes ago -
Describe what “scope creep” is and how can it be avoided? Who is
typically the person...
asked 19 minutes ago -
Any permanent decrease in autonomous real spending will cause
even larger decreases in real GDP per...
asked 19 minutes ago -
A large distributor has 8 retail outlets. Currently each outlet
manages its ordering independently. Demand at...
asked 31 minutes ago -
Two objects repel/attract each other. What can one say about their
charges?
asked 28 minutes ago -
9 A website that facilitates transactions by bringing together
buyers and sellers from all over the...
asked 32 minutes ago -
Write a command line to view the long listing of all files,
including hidden files, with...
asked 1 hour ago -
What kind of experiment would allow you to test that the
posterior cytoplasm can cause the...
asked 45 minutes ago -
Code in C++ please!
Write a function that takes an array of integers as an input...
asked 46 minutes ago -
Predict the reactions, if any, when the
following hydrogen compounds are added to water, and
explain...
asked 1 hour ago