1. Which of the complying with says that a nation will certainly export the commodity in the manufacturing of which a good deal of its relatively numerous and also cheap factor is used?a. The Linder theoryb. The product life cycle theoryc. The MacDougall theoryd. The Heckscher-Ohlin theory

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2. The Leontief paradox doubted the validity of the concept of:a. Comparative advantageb.Factor endowmentsc. Overlapping demandsd. Absolute advantage
3. Which of the adhering to would certainly least most likely apply to the product life cycle theory?a. Calculators and computersb.Coal and crude oilc. Home movie camerasd. Office machinery
4. Classical profession theory emphasized which of the complying with as an underlying explanation of the basis for trade?a. Productivities of labor inputsb. Tastes and also choices among nationsc. Changes in innovations over timed. Quantities of economic resources
5. Worrying the influence that transport prices have on the place of industry, which of the complying with industries has mainly attempted to situate manufacturing infrastructure close to resource supplies?a. Autosb.Steelc. Soft drinksd. Valuable electronics goods
6. Assume that Country A, in the lack of trade, finds itself relatively abundant in labor and fairly scarce in land also. The factor endowment theory reasons that through cost-free trade, the inner circulation of national earnings in Country A will change in favor of:a.Laborb. Landc. Both labor and landd. Neither labor nor land
7. Most economists keep that the major variable underlying wage stagcountry in the USA in the 1990s has actually been:a. Import competitionb. Technological changec. Rising actual value of the minimum waged. Increasing union membership
8. Assume the expense of carrying autos from Japan to Canada exceeds the pretrade price difference for autos in between Japan and Canada. Trade in autos is:a.Impossibleb. Possiblec. Highly profitabled. Moderately profitable
9. Hong Kong is relatively plentiful in labor, while Canada is reasonably plentiful in capital. In both countries the production of shirts is fairly even more labor intensive than the manufacturing of computer systems. According to the factor endowment concept, Hong Kong will have a(n):a. Absolute benefit in the production of shirts and computersb. Absolute advantage in the manufacturing of computersc.Comparative benefit in the manufacturing of shirtsd. Comparative advantage in the manufacturing of computers
10. If Japanese employees get reduced wperiods in the production of autos than perform Amerihave the right to workers:a. Japan will have a comparative advantage in the production of autosb. Japan will have an absolute advantage in the manufacturing of autosc. Production prices will certainly be reduced in Japan than in the U.S.d.Production expenses might be reduced in the U.S. if American labor performance is greater than the Japanese
d.Production expenses might be reduced in the U.S. if Amerihave the right to labor performance is better than the Japanese
11. Which trade concept argues that a freshly produced excellent, when exported, might inevitably become imported as the technology is transferred to lower- cost nations?a. Factor endowment theoryb. Product life cycle theoryc. Overlapping demand also theoryd. Comparative advantage theory
12. Which of the following argues that by widening the market"s size, global profession have the right to permit longer production runs for manufacturers, which leads to enhancing efficiency?a. Economies of scaleb. Diseconomic situations of scalec. Comparative expense theoryd. Absolute cost theory
13. Which profession theory conoften tends that a country that initially establishes and exports a new product may ultimately end up being an importer of it and might no longer manufacture the product?a. Theory of aspect endowmentsb. Theory of overlapping demandsc. Economies of scale theoryd.Product life cycle theory
14. Expanding trade or technological improvementsa. Increases the demand also for experienced workers in the U.S.b. Decreases the demand for unprofessional workers in the U.S.c. Increases the demand also for unexperienced employees in the U.S.d.Both a and also b.
15. Economists agree that wperiods of unexpert workers are being hosted down bya. Internationwide tradeb. Technology improvementsc. Lack of educationd. A combicountry of a, b, and c
16. According to the factor-endowment theory, international specialization and also profession cause a nation"s cheap reresource to become cheaper and a nation"s expensive resource to come to be more expensive. (True/False)
17. The theory of overlapping demands contends that global profession in made commodities is strongest among nations with similar revenue levels. (True/False)
18. The specific-determinants theory analyzes the revenue distribution effects of profession in the short run once resources are immobile among sectors. (True/False)
19. The Leontief Paradox suggested that, in comparison to the predictions of the factor-endowment concept, U.S. exports were less capital-intensive than U.S. import-contending goods. (True/False)


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Online Learning Center to accompany Essentials of Investments8th EditionAlan J. Marcus, Alex Kane, Zvi Bodie
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