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Chapter 8 Quiz
Terms in this set (10)
Why do countries employ protectionism?
To protect the domestic economy
How does infant-industry protection help a country?
It helps in developing the capacity to produce a certain good domestically.
Based on International Monetary Theory, which of these statements is true?
Governments sometimes claim that one or another is manipulating exchange rates to advance their interests at the expense of others.
If I purchase a minority stake in a foreign firm, I am engaging in _______________.
Which of these terms is defined as a firm that has its headquarters in one country and ongoing business operations in one or several other countries?
What is another term to describe countries that have low standards or lax enforcement of their environmental rules and regulations, which may attract foreign companies?
To appease multinational enterprises, various national governments might engage in which practice?
a 'race to the bottom'
Which of these was not created as a result of the Bretton Woods meetings?
Government procurement, anti-dumping duties, and voluntary export restraints are all examples of what?
Comparative advantage argues
Even if countries have an absolute advantage in the production of a good, they can still benefit from trade.
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