Open economies have more:
A. competition
B. firm turnover
C. new firms entering the market
D. all of these
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Studies have shown that there is an inverse relationship between
A. Local competition and regional competition
B. Regional competition and global competition
C. Level of trade barriers and economic growth
D. Level of education and communications infrastructure
Economic interdependence occurs through:
A. trade
B. labor migratin
C. capital flows
D. all of these
Which of the following is a fallacy of international trade?
A. Trade is a zero-sum activity
B. Exports increase employment in exporting industries
C. Import restrictions increase employment in import-competing industries
D. Tariffs and quotas reduce trade volume
The first wave of globalization was brought to an end by ____.
A. The Great Depression
B. The Second World War
C. The First World War
D. The Smoot-Hawley Act
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