Answer the following statements true (T) or false (F)
1.By limiting the amount of foreign sourcing, local content laws are viewed as a means of jobs preservation for domestic workers.
2.Local content laws stipulate the maximum percentage of a product's total value that must be produced domestically for that product to be sold domestically.
3.Local content laws are consistent with the principle of import substitution, in which domestic production replaces the importation of goods from abroad.
4.To the extent that a local content requirement forces firms to locate production in a high-cost nation, product price rises and consumer surplus falls.
5.A subsidy granted to import-competing producers results in a welfare loss to the economy by an amount equal to the protective effect plus the consumption effect.
1.True
2.False
3.True
4.True
5.False
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One of the most versatile methods of problem solving described in the text is
) the analytical approach B) the re?ective approach C) the criteria approach D) the de?nitive approach
A person in the ________ role will encourage all group members to participate.
A. compromiser B. commentator C. harmonizer D. encourager E. gatekeeper
When a parent retires completely and turns the firm over to a son or daughter, the firm ceases to be a family business.
Answer the following statement true (T) or false (F)
Enforcing contracts that cross international borders is
A. nearly impossible, so negotiation is important. B. simply a matter of applying the local law to the contract. C. complicated and governed in most nations by the CISG. D. secondary to who has possession of the goods, regardless of title.