100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
INTB 3080 Exam 2 Questions and Answers | Latest Update 2024/2025 CA$16.52   Add to cart
Quickly navigate to
Preview
  2.  
  3. INTB 3080
  4.  
  5. INTB 3080

Exam (elaborations)

INTB 3080 Exam 2 Questions and Answers | Latest Update 2024/2025
 1 view  0 purchase
  • Course
  • INTB 3080
  • Institution
  • INTB 3080

Mercantilism, as advocated in the 16th and 17th centuries, believed that countries should simultaneously encourage both imports and exports. ~~> False Largely discredited and primitive, mercantilism still influences the trade policies of many countries today. ~~> True Free trade refe...

[Show more]

Preview 3 out of 21  pages

Document information

  • September 20, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • intb 3080 exam 2 questions and answers latest u
  • mercantilism as advocated in the 16th and 17th ce

Written for

  • INTB 3080
  • INTB 3080

Seller

avatar-seller
ExamArsenal

Reviews received

Content preview

1 | P a g e | © copyright 2024/2025 | Grade A+


INTB 3080 Exam 2 Questions and
Answers | Latest Update 2024/2025
Mercantilism, as advocated in the 16th and 17th centuries, believed that

countries should simultaneously encourage both imports and exports.

✓ ~~> False



Largely discredited and primitive, mercantilism still influences the trade

policies of many countries today.

✓ ~~> True



Free trade refers to a situation where a government, through quotas or duties,

attempts to influence what its citizens can buy from another country, or what

they can produce and sell to another country.

✓ ~~> False



David Ricardo's theory of comparative advantage was the first to explain

why unrestricted free trade is beneficial to a country.

✓ ~~> False



Smith, Ricardo, and Heckscher-Ohlin suggest that a country's economy

would gain only if its citizens buy products that are made in that country.

✓ ~~> False




Master01 | September, 2024/2025 | Latest update

, 2 | P a g e | © copyright 2024/2025 | Grade A+

Embracing a free trade regime for an advanced economy often implies that

the country will produce less of some labor-intensive goods and more of

some knowledge-intensive goods.

✓ ~~> True



According to Porter, both advanced factor endowment and basic factor

endowments are equally significant for competitive advantage.

✓ ~~> False



According to Michael Porter, factor endowments can be affected by

subsidies, policies toward capital markets, and policies toward education.

✓ ~~> True



The individual firm should invest substantial financial resources in trying to

build a first-mover advantage, even if that means several years of losses

before a new venture becomes profitable.

✓ ~~> True



The new trade theory suggests that a country may predominate in the export

of a good simply because it was lucky enough to have one or more

pioneering firms to produce that good.

✓ ~~> True




Master01 | September, 2024/2025 | Latest update

, 3 | P a g e | © copyright 2024/2025 | Grade A+

Climate and natural resource endowments explain all of the following

happening, EXCEPT:

✓ ~~> Switzerland exporting watches.



The difference in growth rates between Ghana and South Korea since 1970

can be attributed to

✓ ~~> Both countries' attitudes towards international trade



Ghana's anti trade policy destroyed the Ghanaian economy because

farmers

✓ ~~> Switched to the production of subsistence food stuffs.



Tariffs are the instrument that the GATT and WTO have been most successful

in limiting.

✓ ~~> True



In recent decades, a fall in subsidies, quotas, and voluntary export restraints

has been accompanied by a corresponding fall in nontariff barriers

✓ ~~> False



Ad valorem tariffs reduce the cost of imported products relative to domestic

products.




Master01 | September, 2024/2025 | Latest update

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamArsenal. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$16.52. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81113 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$16.52
  • (0)
  Add to cart