A. occurs when countries are granted most favored nation status
B. occurs when one country voluntarily agrees to reduce its exports to another country
C. occurs when two or more nations join to form a free-trade zone
D. Occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets
Related Mcqs:
- Which level of economic integration best applies to the U.S economy ?
A. free trade area
B. customs union
C. common market
D. monetary union - A positive, dynamic effect of economic integration is illustrated by ?
A. trade diversion effect
B. increased monopoly power of firms
C. decrease customs costs
D. economy-of-scale effect - Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?
A. End benefit
B. Trickle down
C. Free market
D. Capitalism - Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?
A. traditional
B. feudal
C. command
D. mercantile - Economic transition involves high inflation because _____ and ______?
A. high monetary growth high wages
B. high budget deficits devaluation
C. high monetary growth devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue - The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors ?
A. international dumping
B. countervailing duties
C. Strategic trade policy
D. export promotion policy - During the 1980s and 1990s a period of economic conservative governments in much of West and Japan, a leading approach among development economists was ?
A. neoclassicism
B. Marxism
C. Rostow’s model
D. classical appraoch - The formula to calculate economic growth from 2001 to 2002 is given by ?
A. [(GDP2002 + GDP2001)/GDP2001]100
B. [(GDP2002 – GDP2001) GDP2001]100
C. [(GDP2002 – GDP2001)/GDP2001]100
D. [(GDP2001 – GDP2002]100 - A monopoly is able to continue to generate economic profits in the long run because ?
A. there is some barrier to entry to that market
B. Potential competitors sometimes don’t notice the the profits.
C. the monopolist is financially powerful.
D. antitrust laws eliminate competitors for a specified number of years.
E. of all of the things described in these answers - Economic rent ?
A. is productive activity to obtain private benefit from public action and resources
B. are the payments above the minimum essential to attract the resources to the market?
C. is the wage used to pay unskilled workers?
D. does not include monopoly profits
