International Trade and Economic Policies

According to the text, what is the main benefit of cross-border trade?

According to the text, what is the difference between free trade and managed trade?

Which trade theory focuses on differences in labor productivity?

According to the text, what is the main reason for limits on imports?

Which trade theory focuses on factors of production?

According to the text, what does Adam Smith's theory of absolute advantage explain?

According to the text, what does Vermon’s product life-cycle theory focus on?

According to the text, what is the main reason why international trade is beneficial?

According to the text, what is the main pattern of international trade difficult to explain?

According to the text, what is the main interest of limits on imports?

According to the text, which trade theory advocates government involvement in promoting exports and limiting imports?

According to the text, which trade theory promotes the idea that a country should specialize in the production of goods for which it has an absolute advantage?

According to the text, which trade theory suggests that a country should specialize in the production of goods it produces most efficiently and buy the goods it produces less efficiently from other countries?

According to the text, which trade theory suggests that trade is a positive-sum game in which all countries that participate realize economic gains?

According to the text, which trade theory assumes a simple world with two countries and two goods, no transportation costs, and constant returns to scale?

According to the text, which trade theory suggests that countries will export goods that make intensive use of factors that are locally abundant and import goods that make intensive use of factors that are locally scarce?

According to the text, which trade theory raises questions about the validity of the Heckscher-Ohlin theory due to the finding that U.S exports were less capital intensive than U.S. imports?

According to the text, which trade theory suggests that most new products are developed and first sold in the U.S.?

According to the text, which trade theory suggests that free trade can result in two types of dynamic gains: increasing a country’s stock of resources and increasing the efficiency with which a country uses its resources?

According to the text, which trade theory suggests that countries that adopt a more open stance toward international trade enjoy higher growth rates than those that close their economies to trade?

According to the text, what is the main competitive weapon once a product becomes standardized?

What is the concept that refers to cost reductions associated with large-scale production?

What does the new trade theory suggest about trade and the variety of goods available to consumers?

What is the term used to describe the economic and strategic advantages accruing to the first to enter a market?

According to Porter's diamond, what are the four broad attributes of a nation that shape the environment in which local firms compete?

What is the term used to describe the investments in advanced factors of production by related and supporting industries to help an industry achieve a strong competitive position internationally?

According to Porter's theory, what are the two additional variables that can influence the national diamond?

What can shape domestic demand and influence firm rivalry according to Porter's theory?

What does Porter suggest that governments should invest in to promote international success in a particular industry?

From a profit perspective, where should firms disperse production according to the text?