Question

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 flows Please put the following trade theories in order from oldest to youngest: 1. International Product Life Cycle Theory 2.Comparative Advantage Theory 3. Absolute Advantage Theory 4. Mercantilism 5 Factor Proportions Theory 6. National Competitive Advantage 3,6, 1, 4, 2,5 o 5,1,2,6,4,3 O 1,2,3,4,5,6 4,3,2,5, 1,6 O 6,3,5,1,2,4 Which of the following is NOT a political motive for governments to intervene in trade? OA To preserve national security OB. To protect jobs OC To respond to "unfair trade" OD To increase quality of exports OE To gain influence

Answer 1

1. causes hyper inflation
International trade typically does not cause hyperinflation

2.market forces should determine trade flows

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