By opening up to foreign markets two things countries generally experience are:
A. access to a smaller array of new products and saving money through access to cheaper goods.
B. access to a smaller array of new products and increase in negative trade outcomes with that nation.
C. saving money through access to cheaper goods and finding new customers for their products.
D. increase in negative trade outcomes with that nation and finding customers who generally pay less for their products.
C. saving money through access to cheaper goods and finding new customers for their products.
You might also like to view...
Which of the following is NOT an example of the opportunity cost of investing in human capital?
A) lost wages while in school B) lost wages while in on-the-job training C) tuition payments D) apartment rent while working and going to school part-time
In market capitalism:
A) factors of production are privately owned and decisions are made privately. B) factors of production are owned by the government but decisions are made privately. C) there is no role for government. D) the consumer has few choices to make.
Total expenditures for new final goods equals total output of new final goods in the income and product accounts
A) because no one will produce what cannot be sold. B) because prices will rise or fall to clear the market. C) because unsold goods are assumed to be purchased by the firms that produced them. D) only at equilibrium. E) when all goods are sold in the year they are produced.
The CEO of British Petroleum decided that the company needed to add a goal to its worldwide operations. That goal was
A) to be a good corporate citizen. B) to focus on drilling and not exploration. C) to focus on exploration and not drilling. D) to enter the Chinese market.