International trade forces domestic firms to become more competitive in terms of:

Related MCQs

• If a nations terms of trade is ½ its trade partners terms of trade is
• International trade and domestic trade differ because of:
• Suppose the government grants a subsidy to its export firms that permits them to charge lower prices on goods sold abroad. The export revenue of these firms would rise if the foreign demand is:
• international trade refers to trade between
• Most international trade today is classified as trade in
• In a free trade world in which no restrictions exist, international trade will lead to:
• Suppose the government grants a subsidy to domestic producers of an import-competing good. The subsidy tends to result in deadweight losses for the domestic economy in the form of the:
• Tariffs and quotas on imports tend to involve larger sacrifices in national welfare than would occur under domestic subsidies. This is because, unlike domestic subsidies, import tariffs and quotas:
• The balance of international indebtedness is a record of a country’s international:
• Unlike the balance of payments, the balance of international indebtedness indicates the international: