Options:
A. unsought product
B. shopping product
C. convenience product
D. line extension
E. secondary product
A. unsought product
Options:
| a. capture the entire subsidy in the form of higher profits b. increase their level of production c. reduce wages paid to domestic workers d. consider the subsidy as an increase in production cost |
b. increase their level of production
Options:
| a. help more than they hurt b. hurt more then they help c. are equivalent to an import quota d. are equivalent to an export quota |
a. help more than they hurt
Options:
| a. the within-quota tariff rate exceeds the over-quota tariff rate b. the over-quota tariff rate exceeds the within-quota tariff rate c. the within-quota tariff rate equals the over-quota tariff rate d. the within-quota tariff rate plus over-quota tariff rate equal 100 percent |
b. the over-quota tariff rate exceeds the within-quota tariff rate
Options:
| a. the country is a “small country” rather than a “large country‖ b. its terms of trade improve enough c. the tariff enhances the welfare of its trading partners d. its government’s tax revenue increases because of the tariff |
b. its terms of trade improve enough
Options:
| a. high transportation costs as a proportion of product value b. different growing seasons of the year for agricultural products c. product differentiation for goods such as automobiles d. high per capita incomes in exporting countries |
d. high per capita incomes in exporting countries
Options:
| a. helps explain why some nations use industrial policy to support potentially competitive new firms b. cannot explain strategic competition between firms such as Boeing and Airbus c. is another name for Ricardo’s comparative advantage theory |
a. helps explain why some nations use industrial policy to support potentially competitive new firms
Options:
| a. Theory of factor endowments b. Theory of overlapping demands c. Economies of scale theory d. Product life cycle theory |
d. Product life cycle theory
Options:
| a. Paid for all goods exported by the home country. b. Received for all goods exported by the home country. c. Received for exports and paid for imports. d. Of primary products as opposed to manufactured products. |
c. Received for exports and paid for imports.
Options:
| a. Is the philosophy of free international trade. b. Was a system of export promotion and barriers to imports practiced by governments. c. Was praised by Adam Smith in The Wealth of Nations. d. Both (a) and (c). |
b. Was a system of export promotion and barriers to imports practiced by governments.
Options:
| A. excess of assets over the liabilities. B. excess of liabilities over the assets. C. actual capitalization is higher than the proper capitalization. D. actual capitalization is lower than the proper capitalization. |
D. actual capitalization is lower than the proper capitalization.
Options:
| A. Trading Entrepreneurs B. Imitative Entrepreneurs C. First generation Entrepreneurs D. Innovative Entrepreneurs |
B. Imitative Entrepreneurs