Busmhr 2000 Exam 1 Questions With Correct Answers

________ justifies some limited government intervention to support the development of certain export-oriented industries. Heckscher-Ohlin theory Mercantilism Theory of comparative advantage New trade theory Theory of absolute advantage {Ans: New Trade Theory}MaryAnne is always late to meetings and she knows she needs to be better about being on time because it is expected by almost everyone living in the United States. This attitude toward time is an example of a Multiple Choice moral. belief. value. folkway. mores. {Ans: folkway.}The merging of national markets that have historically been distinct and separate is the process of globalization. containerization. industrialization. foreign direct investment. international busines {Ans: globalization.}Shayla is from South Africa and believes that the customs and beliefs of her culture are superior to those she has encountered during her trip to America. Shayla's attitude is an example of Multiple Choice ethnocentrism. Confucian dynamism. cultural convergence. collectivism. class consciousness. {Ans: ethnocentrism.}Technology is indicated as having a major impact on the declining share of national income enjoyed by labor. If this is the case, what is a logical solution to this problem? increasing society's investment in education restricting exports of jobs restricting access to technology decreasing the wage rates of