Economic growth in the DVCs might increase if IACs:
A. reduce their tariffs and import quotas.
B. encourage more immigration of high-skilled DVC workers.
C. outlaw direct private investment abroad by IAC corporations.
D. discourage capital flight to the DVCs.
A. reduce their tariffs and import quotas
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A market structure in which there is only one buyer is
A) a monopoly. B) a monopsony. C) an oligopoly. D) a competitive market.
The only mineral that was available in any significant quantity in colonial America was:
a. Gold. b. Silver. c. Iron. d. Coal.
If the demand for a good increased, what would be the effect on the equilibrium price and quantity?
What will be an ideal response?
Assume the standard trade model with two countries (Alpha and Beta), two goods (food and drink), and two factors of production (land and labor). Further assume that Alpha is relatively labor-abundant and food is relatively land-intensive. According to the Heckscher-Ohlin theory, Beta has a comparative advantage in the production of
A. food. B. drink. C. neither good. D. both goods.