_______________ occurs when trade shifts to countries in the group at the expense of trade with
countries not in the group, even though the nonmember country might be more efficient in the absence
of trade barriers.

Related MCQs

• _______________ occurs when production shifts to more efficient producers for reasons of comparative advantage, allowing consumers access to more goods at a lower price than would have been possible without integration.
• . Removing barriers or restrictions set by the government is called:
• …………………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
• In the foreign exchange market, the ________ of one country is traded for the ________ of another country.
• In the foreign exchange market, the ________ of one country is traded for the ________ of another country.
• According to Adam Smith, the trade between countries should happen _____.
• International trade forces domestic firms to become more competitive in terms of
• Which of the following was developed with the rationale that the U.S.-Canadian trade was the largest bilateral trade in the world and that the United States is Mexico’s and Canada’s largest trading partner?
• Horizontal integration occurs when
• By definition, currency appreciation occurs when