Multiple Choice
The trade theory that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called ________.
A) absolute advantage
B) mercantilism
C) comparative advantage
D) factor proportions theory
Correct Answer:
Verified
Correct Answer:
Verified
Q28: Which element of national competitive advantage theory
Q29: _ is the condition that results when
Q30: U.S. jobs that are export-dependent typically pay
Q31: During which stage of the international product
Q32: In the context of international trade, isolationism
Q34: China dominates the rest of the world
Q35: According to mercantilism, accumulation of national wealth
Q36: Merchandise trade between low- and middle-income nations
Q37: Both absolute and comparative advantage theories assume
Q71: Nations following the theory of _ believed