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Question
David Ricardo s theory of comparative advantage explains global trade in terms of the
A) first-mover advantage that certain countries and firms enjoy.
B) geographical differences between various countries.
C) opportunity cost.
D) late-mover advantage that certain countries and firms possess.
Answer
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Related questions
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Countertrade is
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B) least attractive to small, primarily domestic enterprises.
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_____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant s output as partial payment for the contract.
A) A buyback
B) A barter
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A) bill of lading
B) letter of credit
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In a typical international trade transaction, the
A) exporter should obtain a letter of credit to initiate transactions.
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In an international transaction involving a bank as a third party, the exporter ships the product after
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B) EMCs are export-import banks that manage foreign exchanges.
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⊚ true
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B) insourcing.
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A) ISO 9000
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C) Lean production
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⊚ true
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⊚ true
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B) pricing strategy
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