
Week 5 MGM 5966
Authored by Simran Kaur
Business
University
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The theory of mercantilism viewed international trade as a zero-sum game.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The Heckscher-Ohlin theory proposed that nations will develop comparative advantage based on locally abundant factors.
True
False
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is true of the absolute advantage theory of international trade?
It emphasizes relative advantage in one economic activity that one nation enjoys in comparison with other nations.
It divides the countries of the world into three categories based on innovation.
It advocates extensive government intervention in international trade.
It was the first theory that advocated free trade.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trying to be self-sufficient & producing a wide range of goods, what policy eventually reduces the wealth of a nation?
absolute advantage
Laissez faire
Free Trade
Mercantilist
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following ideas is closely linked to the theory of absolute advantage?
All international trade must be closely regulated by governments.
Free market forces determine how much to trade with minimal intervention.
Nations need to engage in activities that they have comparative advantage
Government should protect domestic industries from imports & promote export
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which of the following ways is the theory of comparative advantage linked to the Heckscher-Ohlin theory?
Sustainability of wealth in the short run
Dependency on a nation’s locally available abundant factors
Dynamic changes in the patterns of trade over time
Extent to which government influences international trade
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Government intervention in international trade was proposed by the factor endowment theory.
True
False
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