The perspective of ________ holds that as a company gains experience, resources, and confidence, it progressively increases its scope of countries to which it exports.
A) serendipity
B) export management
C) the born-global theory
D) incremental internationalization
D) incremental internationalization
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In the circular flow model of the market system, business firms
A. buy products and resources. B. buy products and sell resources. C. sell products and resources. D. sell products and buy resources.
Bob's Lawn Care Services is a perfectly competitive firm that currently mows 22 lawns a week. Bob's marginal cost exceeds the price he charges. Bob can increase his profit if he
A) charges a higher price. B) charges a lower price. C) mows fewer than 22 lawns a week. D) mows more than 22 lawns a week.
Country A has twice as many workers as Country B. Country A also has twice as much physical capital, twice as much human capital, and access to twice as many natural resources as Country B. Assuming constant-returns to scale, which of the following is higher in Country A?
a. both output per worker and productivity b. output per worker but not productivity c. productivity but not output per worker d. neither productivity nor output per worker
An economist who favors smaller government would recommend:
A. increases in government spending during recession and tax increases during inflation. B. tax increases during recession and tax cuts during inflation. C. tax cuts during recession and reductions in government spending during inflation. D. tax cuts during recession and tax increases during inflation.