BUS847 Tma Solutions
1. The __________________ of comparative advantage became a basic constituent of neoclassical trade theory
classical trade theory
economic theory
New theory
—>> Ricardian theory
2. With globalization of economic activities and liberalization of trade, organizations are conducting their business in the ____________environment.
—>> global
external
internal
intermediate
3. ________________________ type of tariff is levied on a good based on a percentage of that good’s value.
Fixed tariff
Income tariff
foreign tariff
—>> Ad Valorem Tariff
4. ________________________negotiation is also called integrative or win-win negotiation
Winner takes all
—>> Partnership
Open minded
People oriented
5. The _______ is an economic loss which a country suffers on account of an increase in its factor endowment or a natural windfalln
resource based view
—>> Dutch disease
endowment loss
windfall loss
6. ________ is the difference between visible imports and visible exports.
—>> Balance of trade
Trade differential
Trade regulator
Visible difference
7. _______________tries to explain empirical elements of trade that comparative advantage-based models above have difficulty with
—>> New Trade Theory
Old trade theory
Richardo’s theory
John Batise say throry
8. In the_________________________ model the pattern of international trade is determined by differences in factor endowments.
Factor endoments
Michael Portal
Richardo’s
—>> Heckscher-Ohlin
9. The____________ model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries’ economic sizes
economic
trade
—>> gravity
interaction
10. ___________ is a policy by which a government does not discriminate against imports or interfere with exports
Tariff
Government free trade policy
—>> Free trade
Trade allowance policy
JOIN OUR TELEGRAM ON VIP NOUN UPDATES – FOR FREE BUS847 PAST QUESTIONS AND EXAMS SUMMARIES
