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Chapter 2 - International Trade + Investment

front 1

Overall, an average of nearly 70 percent of annual FDI investments have been going into developed countries in recent years, with a majority of this investment occurring in the form of:

back 1

acquisitions of existing companies

front 2

In addition to the four variables—demand conditions, factor conditions, related and supporting industries, and firm strategy, structure, and rivalry—Porter claimed that competitiveness could also be affected by:

back 2

government

front 3

Which of the following states that foreign direct investment is made by firms in oligopolistic industries possessing technical and other advantages over local firms?

back 3

Monopolistic advantage theory

front 4

The theory of _____ postulates that international trade in manufactured goods will be greater between nations with similar levels of per capita income than between those with dissimilar levels of per capita income.

back 4

overlapping demand

front 5

More than half of the exports from developed countries go to _____ countries.

back 5

developed

front 6

Which of the following is the most widely cited and accepted theory of FDI currently?

back 6

The eclectic theory of international production

front 7

In 2008, the dollar value of total world exports was greater than the gross national product of every nation in the world except:

back 7

the United States

front 8

The ability a nation has when it can produce a larger amount of a good or service for the same amount of inputs as can another country or when it can produce the same amount of a good or service using fewer inputs than could another country is known as the theory of:

back 8

absolute advantage

front 9

How does the theory of overlapping demand differ from the theory of comparative advantage?

back 9

It does not specify in which direction a given good will go.

front 10

The one commonality of nearly all of the leading foreign direct investment theories that is supported by empirical tests is that the major part of direct foreign investment is made by large, research-intensive firms in oligopolistic industries.

back 10

True

front 11

In 2008, the dollar value of total world exports was greater than the gross national product of every nation in the world including the United States.

back 11

False

front 12

A critical factor contributing to high TDI scores is trade liberalization.

back 12

True

front 13

_____ is an economic philosophy based on the belief that (1) a nation's wealth depends on accumulated treasure, and (2) to increase wealth, government policies should promote exports and discourage imports.

back 13

Mercantilism

front 14

Adam Smith argued against mercantilism by claiming that market forces, not government controls, should determine the direction, volume, and composition of international trade.

back 14

True

front 15

Approximately 70 percent of exports from developed economies go to developing countries, not to other industrialized nations.

back 15

False