Other questions in this quiz

2. which one of these is not considered to be a contributing factor to the process of globalization?

  • increased trade barriers
  • better communication
  • improved technology
  • growth of trading blocs

3. Identify the theory that supports the view that in some cases countries export for the reason that the world market can support only a limited number of firms.

  • New trade theory
  • Heckscher-Ohlin theory
  • Smith's theory
  • Ricardo's theory

4. Which of the following explains why economic integration has never been easy to achieve or sustain, despite the strong economic and political arguments in support?

  • Linking neighboring economies and making them increasingly dependent on each other creates little incentives for political cooperation.
  • While a nation as a whole may benefit significantly, certain groups may lose.
  • Countries fear a reduction of their political weight in the world because of economic integration.
  • No country has shown significant improvement because of economic integration.

5. The theory of comparative advantage provides strong rationale for supporting the idea of _____.

  • governmental intervention in trade
  • free trade
  • protectionism
  • business nationalism

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