International Economics 3rd Edition By Robert C. Feenstra – Test Bank

International Economics 3rd Edition By Robert C. Feenstra – Test Bank

ISBN-10:1429278420. ISBN-13:978-1429278423

1. Suppose that imports and exports in an {{industry}} are $100 million and $200 million, respectively. Will the index of intra-industry commerce for this {{industry}} rise, fall, or keep unchanged if exports fall to $100 million?
A) It ought to rise.
B) It ought to fall.
C) It ought to keep unchanged.
D) There could also be not ample information to learn the way the index will change.
Ans: B Drawback: Easy Half: Introduction Capability Descriptor: Concept-Based Matter: Introduction

2. The ____________ model best explains intra-industry commerce.
A) Ricardian
B) Heckscher-Ohlin
C) monopolistic opponents
D) specific-factors
Ans: C Drawback: Easy Half: Introduction Capability Descriptor: Concept-Based Matter: Introduction

3. To analysis intra-industry commerce, we should always herald imperfect opponents, and we modify our assumptions about our commerce fashions to allow:
A) price-conscious prospects.
B) short-run unemployment.
C) differentiated merchandise.
D) wonderful opponents.
Ans: C Drawback: Easy Half: Introduction Capability Descriptor: Concept-Based Matter: Introduction

4. Merchandise traded between two nations that are very associated and actually shut substitutes, nevertheless that could possibly be of assorted prime quality or prices, are generally known as:
A) differentiated enhances.
B) differentiated substitutes.
C) differentiated merchandise.
D) wonderful substitute merchandise.
Ans: C Drawback: Easy Half: Introduction Capability Descriptor: Definitional Matter: Introduction

5. The cross-trade of very associated merchandise exported and imported by shopping for and promoting companions seems to contradict which of the subsequent model(s)?
A) Ricardian
B) Heckscher-Ohlin
C) specific-factors
D) It contradicts all of these fashions.
Ans: D Drawback: Easy Half: Introduction Capability Descriptor: Concept-Based Matter: Introduction

6. A differentiated product is one which:
A) is barely completely totally different from the competitor’s product, although it is a shut substitute.
B) could possibly be very completely totally different.
C) is traded inside firms and is not available on the market in retail markets.
D) has a shelf lifetime of decrease than a yr.
Ans: A Drawback: Easy Half: Introduction Capability Descriptor: Definitional Matter: Introduction

7. “Differentiated” is one different phrase for:
A) equal.
B) homogeneous.
C) heterogeneous.
D) None of these has the similar meaning.
Ans: C Drawback: Easy Half: Introduction Capability Descriptor: Definitional Matter: Introduction

8. What is going on to happen when a company raises the worth of a differentiated product in an imperfectly aggressive market?
A) It ought to see lower product sales nevertheless isn’t going to lose all its product sales.
B) It ought to lose all its product sales to competitor firms.
C) It ought to actually get new prospects from totally different firms.
D) It ought to see an increase in revenues.
Ans: A Drawback: Easy Half: Introduction Capability Descriptor: Analytical Pondering Matter: Introduction

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