Multiple Choice
One reason for international specialization in production is
A) a high tariff imposed by a national government
B) a low tariff imposed by a national government
C) diminishing returns to a variable factor of production
D) the different resource endowments throughout the world
E) high fixed costs of production
Correct Answer:
Verified
Correct Answer:
Verified
Q51: Dumping refers to selling a commodity abroad
Q52: Differences in tastes among nations<br>A)make gains from
Q53: The two main categories of U.S.exports are<br>A)transportation
Q54: Japan is generally considered an economy closed
Q55: One reason for international specialization in production
Q57: Exhibit 19-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 19-5
Q58: Comparative advantage is determined by<br>A)the amount of
Q59: An effective import quota<br>A)lowers the price of
Q60: When a country establishes trade restrictions, domestic
Q61: Exhibit 19-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 19-4