The International Economy And Globalization

A. Allows private ownership of capital
B. Has flexible exchange rates
C. Has fixed exchange rates
D. conducts trade with other countries

A. Economies of large-scale production
B. The specializing country behaving as a monopoly
C. Smaller production runs resulting in lower unit costs
D. High wages paid to foreign workers

A. reschedule debt
B. get a loan from an international organization
C. default on the loan
D. any of the above

A. exports, subsidies
B. exports, patents
C. imports, high tariffs or import quotas
D. imports, subsidies

A. The upward trend in commodity prices the stability of primary products real prices
B. The upward trend in commodity prices, the volatility of primary products real prices
C. The downward trend in commodity prices the stability of primary products real prices
D. The downward trend in commodity prices the volatility of primary products real prices

A. resource scarcity
B. low levels of investment
C. low population
D. poor infrastructure
E. poor human capital

A. high monetary growth high wages
B. high budget deficits devaluation
C. high monetary growth devaluation
D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue

A. imports, exports
B. the balance of trade, zero
C. The demand for currency the supply of currency
D. social marginal cost, social marginal benefit

A. rise, rise
B. fall, rise
C. fall, fall
D. rise, fall

A. relative factor competition
B. relative factor mobility
C. relative factor substitution
D. relative factor endowments