A. primary products such as tin and bauxite
B. intermediate products
C. labor-intensive agricultural products
D. labor-intensive manufacturing products
Related Mcqs:
- What is called the difference in the value of a nation’s imports over exports or exports over imports ?
A. Trade deficit
B. Trade simples
C. Both a & b
D. Not a nor b - Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
A. international commodity agreements program
B. multilateral contract program
C. generalized system of preferences program
D. export-led growth program - The differences between a country’s merchandise exports and its merchandise imports is the ?
A. balance of payments
B. capital account
C. current account
D. balance of trade - Which trade theory contends that a country that initially develops and exports a new product may eventually become an importer of it and may no longer manufacture the product ?
A. Theory of factor endowments
B. Theory of overlapping demands
C. Economies of scale theory
D. Product life cycle theory - The record of country’s imports and exports of goods and services is called its ?
A. visible trade balance
B. balance of trade
C. balance of payments on current account
D. balance of payments. - The situation when a country imports more than it exports is ?
A. a recession
B. a trade surplus
C. a trade deficit
D. an expansion. - The record of country’s imports and exports of goods is called its ?
A. balance of trade:
B. balance of payments
C. balance of payments on current account
D. visible trade balance - The record of a country’s imports and exports of of goods and services plus net investment incomes and current transfers of money to and from abroad, is called its ?
A. balance of payments on current account
B. visible trade balance
C. balance of trade
D. balance of payments - For the United states, exports plus imports are about _____ of its gross national product?
A. 5 percent
B. 10 percent
C. 25 percent
D. 55 percent
