The International Economy And Globalization

A. Import-competing industries
B. Industries that are only exporters
C. Industries that sell domestically as well as export
D. industries that neither import nor export

A. Imported, but not exported
B. Exported, but not imported
C. Imported and exported
D. Neither exported nor imported

A. Increase all domestic costs and prices
B. Keep all domestic costs and prices at the same level
C. Lessen the amount of competition facing home manufacturers
D. Increase the amount of competition facing home manufacturers

A. Monopoly in the home market becomes an oligopoly in the world market
B. Oligopoly in the home market becomes a monopoly in the world market
C. Purely competitive firm in the home market becomes an oligopolist
D. purely competitive firm in the home market becomes a monopolist

A. The less mobile the country’s resources
B. The more mobile the country’s resources
C. The lower the country’s initial living standard
The higher the country’s initial living standard

A. Increased competition for world producers
B. A wider selection of products for consumers
C. The utilization of the most efficient production methods
D. Relatively high wages levels for all domestic workers

A. 5 percent
B. 10 percent
C. 25 percent
D. 55 percent

A. Canada
B. Germany
C. Mexico
D. United Kingdom

A. Maximizing domestic efficiency is not considered imports
B. Maximizing consumer welfare may not be a chief priority
C. There exist sound economic reasons for keeping one’s economy isolated from other economies
D. Economists tend to favor high protected domestic markets

A. Industries in which there are neither imports nor exports
B. Imports competing industries
C. Industries that sell to domestic and foreign buyers
D. Industries that sell to only foreign buyers