3. According to Heckscher and Ohlin, meant the extent to which a country is prov

Question

3. According to Heckscher and Ohlin, meant the extent to which a country is provided with such resources as land, labor, and capital. A. factors of production B. economic facilitators C. factor endowments D. manufacturing factors 4. According to the product life-cycle theory, the locus of global production initially switches from the U.S. to other advanced nations and then from those nations to developing countries. The consequence of this trend for the pattern of world trade is that over time the U.S. A. becomes the sole producer of the product B. switches from being an exporter of the product to being an importer of the product C, switches from being an importer of the product to being an exporter of the product D. becomes the sole consumer of the product. 5. According to the new trade thcorists, because early entrants are able to gain the early entrants into an industry may get a lock on the world market that discourages subsequent entry A zero-sum advantages B. highly skilled employees C. process expertise D. economies of scale 6. Porter explains the United States' loss of engineering-based industries where manufacturing processes and product design issues are critical as a consequence of A. differing management ideologies. B. differing factor endowments. C. differing demand conditions. D. chance. 7. Agricultural subsidies have been criticized for all of the following reasons except A. they allow inefficient farmers stay in business. B. they discourage countries to overproduce heavily subsidized agricultural products. C. they encourage countries to produce products that could be grown more cheaply elsewhere and imported D. they reduce international trade in agricultural products. 8,.. .-is a direct restriction on the quantity of some good that may be imported into a country. A. Specific tariff B. Import quota C. Subsidy D. Ad valorem tariff 9. A quota on trade imposed by the exporting country, typically at the request of the importing country's government is referred to as a(n): A. voluntary export restraint. B. specific tariff quota.

Explanation / Answer

Can answer only four questions according to chegg policy. Please send other parts as separate question

3 factor endowments

4 B. It ultimately becomes producer of say Japanese cars and radios

5 process expertise

6 A

7B

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