Increased foreign competition tend to ? A. Intensify inflationary pressure at home B. Induce falling output per worker-hour for domestic workersC. Place constraints on the wages of domestic workers D. Increase profits of domestic import competing industries

Which American industry has least been affected by import competition in recent years ? A. Automobiles B. Steel C. Radios and TVsD. Computer software

International trade is based on the idea that ? A. Exports should exceed imports B. imports should exceed exports C. Resources are more mobile internationally than are goodsD. Resources are less mobile internationally than are goods

International trade forces domestic firms to become more competitive in terms of ? A. The introduction of new products B. Product design and quality C. Product priceD. All of the above

International trade in goods and services is sometimes used as a substitute for all of the following except ? A. International movements of capital B. International movements of labor C. International movements of technologyD. Domestic production of different goods and…

A primary reason why nations conduct international trade is because ? A. Some nations prefer to produce one thing while others produce anotherB. Resources are not equally distributed to all trading nations C. Trade enhances opportunities to accumulate profits D.…