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
New trade theory
Stresses that in some cases countries specialize in the production and export of particular products because the world ...
Free Trade - ANSWER- refers to a situation where a government does not attempt
to influence through quotas or duties what its citizens can buy from another
country
New trade theory - ANSWER- Stresses that in some cases countries specialize in
the production and export of particular products because the world market can
support only a limited number of firms
Mercantilism - ANSWER- supports the idea that countries should export more
than what they import
adam smith - ANSWER- argued that countries should specialize in the production
of goods for which they have an absolute advantage.
a straight line - ANSWER- The production possibility frontier will be ________ if
constant return to specialization is observed
The Heckscher-Ohlin theory predicts that countries will: - ANSWER- export those
goods that make intensive use of factors that are locally abundant.
product life-cycle theory - ANSWER- The ________ argues that a large proportion
of the world's new products had been developed by U.S. firms.
economies of scale - ANSWER- The variety of goods that a country can produce
is limited by the size of the market in industries where ________ are important.
Free Trade - ANSWER- Refers to a situation where a government does not
attempt to influence through quotas or duties what its citizens can buy from
another country?
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