International difference is opportunity costs lead to countries acquiring ?

Related Mcqs:

1. The opportunity cost of acquiring education is ?

   A. course fees
   B. course fees and living expenses
   C. the earnings foregone
   D. Course fees living expenses and textbook

2. The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?

   A. R&D generating welfare improved technology
   B. development of more productive machinery
   C. new work rules promoting workers efficiency
   D. lower wages extracted from workers

3. Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?

   A. current profit maximization
   B. product quality leadership
   C. Market share leadership
   D. Survival

4. If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?

   A. Trade would depend on difference in demand conditions
   B. Trade would depend on economies of large-scale production
   C. Trade would depend on the use of different currencies
   D. There would be no basis for gainful trade

5. Throughout the 1800’s Russia was interested in acquiring Turkey mainly because Russia wanted ?

   A. to main peace in the Middle East
   B. access to the Mediterranean Sea
   C. to reestablish the Byzantine Empire
   D. The rich farmland of the Anatolian Plateau

6. If the international terms of trade settle at a level that is between each country’s opportunity cost ?

   A. There is no basis for gainful trade for either country
   B. Both countries gain from trade
   C. Only one country gains from trade
   D. One country gain and the other country loses from trade

7. Should international transportation costs decrease the effect on international trade would include a (an) ?

   A. increase in the volume of trade
   B. Smaller gain from trade
   C. Decline in the income of home producers
   D. Decrease in the level of specialization in production

8. An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?

   A. relatively small; more difficult
   B. relatively small; easier
   C. relatively large; more difficult
   D. relatively large; easier

9. If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?

   A. 0.4A
   B. 2.5A
   C. 10A
   D. 1B

10. Which of the following countries lead in the production of Nickel ?

    A. Canada
    B. USA
    C. China
    D. Russia