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Questions and Answers
What is the primary objective of tariff imposition by governments?
What is the primary objective of tariff imposition by governments?
- To increase global resource utilization
- To promote global competition
- To encourage export of goods and services
- To protect domestic industry and jobs from foreign competition (correct)
What is a consequence of declining trade barriers for managers?
What is a consequence of declining trade barriers for managers?
- Increased global market opportunities (correct)
- Less dynamic job of managing
- Stagnant global competition
- Reduced global market opportunities
What is the underlying principle of the free-trade doctrine?
What is the underlying principle of the free-trade doctrine?
- Each country should focus on producing high-tech goods
- Each country should specialize in producing goods and services it can produce most efficiently (correct)
- Each country should limit its production to only domestic goods
- Each country should produce all goods and services
What is a characteristic of a world with increasingly interdependent and similar nations?
What is a characteristic of a world with increasingly interdependent and similar nations?
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What is the result of specialization in goods and services production, according to the free-trade doctrine?
What is the result of specialization in goods and services production, according to the free-trade doctrine?
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What is the primary effect of declining barriers to trade and investment?
What is the primary effect of declining barriers to trade and investment?
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What is the role of managers in a globalized economy?
What is the role of managers in a globalized economy?
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What is the consequence of tariff imposition on domestic industries?
What is the consequence of tariff imposition on domestic industries?
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What is the effect of free trade on global resources?
What is the effect of free trade on global resources?
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What is the role of the free-trade doctrine in promoting economic growth?
What is the role of the free-trade doctrine in promoting economic growth?
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