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| According to the Exporter Data Base, small and medium-sized enterprises accounted for ___________ of all U.S. exporters. |
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Definition
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| Regarding the volume of international trade, exports of goods and services ___________ in 2010. |
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Definition
| were nearly $19.0 trillion |
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| One measure of the magnitude of international trade and how it has grown is that _____________ of everything grown or made in the world is now exported. |
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Definition
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| The level of merchandise exports in 2010, worldwide, was: |
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Definition
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| The level of services exports in 2010, worldwide, was: |
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Definition
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| Between 1980 and 2010, the level of merchandise exports from Africa: |
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Definition
| increased by 250 percent. |
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| The proportion of world commercial services exports accounted for by ___________ has evidenced an overall decline since 1980. |
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Definition
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| The rapid expansion of world exports since 1980 demonstrates that |
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Definition
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| In examining the volume of international trade: |
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Definition
| A. the proportion of manufacturing value added generated by South and East Asia has quadrupled since 1980. |
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Term
| More than one-half of the exports from developing countries go to __________ countries, and this proportion has been _____________ over the past 35 years. |
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Definition
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| More than half of the exports from developing nations go to developed nations, and: |
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Definition
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Term
| When considering where to export, advantages to managers of focusing on a nation that is already a sizable purchaser of goods coming from the home country include: |
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Definition
export and import regulations are not insurmountable.
satisfactory transportation facilities have already been established. |
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| The three largest markets for American exports of goods in 2010 were: |
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Definition
| Canada, Mexico, and China. |
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| The three nations that exported the largest amount of goods to the United States in 2010 were: |
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Definition
| Canada, Mexico, and China. |
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Term
| 17. Many of the Asian countries that are major exporters to the United States are also significant importers of American goods because: |
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Definition
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Term
| Supporters of mercantilism: |
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Definition
| viewed accumulation of precious metals as an activity essential to a nation's welfare. |
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Term
| Mercantilists believed that: |
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Definition
| a nation should have an export surplus in order to accumulate precious metals. |
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Term
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Definition
| market forces, not government controls, should determine direction, volume, and the composition of international trade. |
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Term
| The capability of one nation to produce more of a good with the same amount of input than another country is: |
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Definition
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Term
| If Ecuador has an absolute advantage in coffee and Argentina in wheat, then, according to trade theory: |
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Definition
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Term
| A nation having absolute disadvantages in the production of two goods with respect to another nation has ___________ in the production of the good in which its absolute disadvantage is less. |
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Definition
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Term
| According to the theory of comparative advantage: |
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Definition
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Term
| Locating activities in another nation is: |
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Definition
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Term
| Offshoring is an application of: |
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Definition
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Term
| According to trade theory: |
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Definition
| traders need to know the exchange rate between their own currency and that of the nation they are considering trading with before they can decide whether it is advantageous to import, export, or buy locally. |
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| Theory based on ____________________ states that international and interregional differences in production costs occur because of differences in the supply of production factors. |
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Definition
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Term
| Theory based on ____________________ states that international and interregional differences in production costs occur because of differences in the supply of production factors. |
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Definition
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Term
| The theory of resource endowment: |
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Definition
| states that a nation will trade goods that can be produced with the production factor that is most abundant. |
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| The theory of overlapping demand: |
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Definition
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| The international product life cycle: |
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Definition
| is concerned with the role of innovation in trade patterns. |
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| Economies of scale and the experience curve: |
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Definition
| explain why many companies will engage in international trade. |
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Term
| Which of the following elements are included in Porter's Diamond Model of national advantage? |
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Definition
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| Porter's Diamond Model of national advantage: |
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Definition
| claims that the ability of local firms in a country to utilize the country's resources to gain a competitive advantage is based on demand conditions, factor conditions, substitute products, and firm strategy, structure, and rivalry. |
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Term
| _______________ occurs primarily because of relative price differentials among nations. |
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Definition
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| To sum up international trade theory, we can say that the primary reason for trade is: |
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Definition
| the existence of price differentials among nations. |
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| Which of the following is explained by international trade theory? |
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Definition
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| Regarding foreign investment: |
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Definition
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Term
| Firms from __________ had the largest total outstanding stock of direct overseas investment at the beginning of 2010. |
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Definition
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Term
| At the beginning of 2010, the value of the outstanding stock of foreign direct investment of all nations totaled more than: |
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Definition
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Term
| Regarding the annual outflows of foreign direct investment: |
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Definition
| much of the recent increase has been associated with mergers, acquisitions, and other international investments made by companies in industries facing increased competition and global consolidation. |
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| Regarding annual inflows of FDI: |
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Definition
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Term
| Regarding foreign direct investment and trade |
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Definition
| fewer government barriers to trade, increased competition from globalizing firms, and new production and communications technology are causing many international firms to disperse the activities of their production systems to locations close to available resources. |
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Term
| Regarding economic and social development: |
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Definition
| for the Trade and Development Index, the best regional performance among developing countries was that of the countries of the East Asia and Pacific region. |
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Term
| The monopolistic advantage theory suggests that firms in oligopolistic industries are likely to _______________ foreign direct investment when they have technical and other advantages over indigenous firms. |
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Definition
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