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CORRECT WELL DETAILED
UPDATE!!!!2025/2026|GUARANTEED
Deadweight Cost - ANSWER Net losses that occurs in an economy as a result of tariffs
Purchasing Power Parity (PPP) - ANSWER A conversion that determines the equivalent amount of goods and services different currencies can purchase. An adjustment to reflect the differences in the cost of living in various countries
Triad - ANSWER North America, Western Europe, and Japan
Resource Based View - ANSWER An organization's resources and capabilities, NOT external conditions, should be the basis for strategic decisions
Institution Based View - ANSWER Success and failure are enabled and contained by institutions
Open Market Operations (OMO) - ANSWER When the central bank buys or sells bonds
Primary Political Views on FDI - ANSWER Free Market and Pragmatic Nationalism
How do firms create value when engaging rivals? - ANSWER 1) Launch products in multiple markets 2) Secure patents on key products 3) Hold a dominant position in key markets
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Globalization can be viewed as: - ANSWER 1) A pendulum that swings from one extreme to another from time to time 2) A new force sweeping through the world in recent times 3) A long run historical evolution since the dawn of human history
Non tariff Trade Barrier (NTB) - ANSWER Subsidies, import quotas, export restraints, local content requirement, administrative policies and antidumping duties
Free Trade - ANSWER The idea that market forces should determine how much to trade with little or no government intervention
Political Arguments for Free Trade - ANSWER 1) National Security 2) Environment and Social Responsibility 3) Consumer Protection
Who advocated for Comparative Advantage? - ANSWER David Ricardo
Mercantilism - ANSWER Views international trade as a zero sum game
Modern Theories of International Trade - ANSWER 1) Product Life Cycle 2) Strategic Trade 3) National Competitive Advantage of Industries
Classical Theories of International Trade - ANSWER 1) Mercantilism 2) Absolute Advantage 3) Comparative Advantage
Modern Theory vs Classical Theory - ANSWER Modern = Dynamic
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