That the division of labor is limited by the size of the market best applies to which explanation of trade:
Factor endowment theory
Product life cycle theory
Economies of scale theory
Overlapping demand theory
A larger variety of products results from international trade especially if:
International trade affords producers monopoly power
National government levy import tariffs and quotas
Producing goods entails increasing costs
Economies of scale exist for producers
According to the Heckscher-Ohlin model, the source of comparative advantage is a country’s:
Technology
Advertising
Factor endowments
Both (1) and (3)
The Heckscher-Ohlin model rules out the classical model’s basis for trade by assuming that _______ is are identical between countries.
Factor endowments
Factor intensities
Technology
Opportunity costs
If tastes are identical between countries then comparative advantage is determined by:
Supply conditions only
Demand conditions only
Supply and demand conditions
Can’t tell without more information
The Heckscher-Ohlin theorem states that a country will have comparative advantage in the good whose production is relatively intensive in the ________ with which the country is relatively abundant.
Tastes
Technology
Factor
Opportunity cost
A country gains from international trade if its post-trade _____ point lies outside its production possibility frontier
Production
Autarky
Consumption
All of the above
______ gains from trade refer to the situation where, over time, international trade leads to an outward shift in a country’s production possibility frontier.
Static
Dynamic
Political
Outward
Ad valorem tariffs are collected as
Fixed amounts of money per unit traded
A percentage of the price of the product
A percentage of the quantity of imports
All of the above
Specific tariffs are collected as
Fixed amounts of money per unit traded
A percentage of the price of the product
A percentage of the quantity of imports
All of the above
Most tariffs have
Only revenue effects
Only protective effects
Both protective and revenue effects
Neither protective nor revenue effects
Under a pegged exchange rate system, which does not explain why a country would have a balance-of-payments deficit?
Very high rates of inflation occur domestically
Foreigners discriminate against domestic production
Technological advance is superior abroad
The domestic currency is undervalued relative to other currencies
Which exchange rate system does not require monetary reserves for official exchange rate intervention?
Floating exchange rates
Pegged exchange rates
Managed floating exchange rates
Dual exchanged rates
Small nations whose trade and financial relationships are mainly with a single partner tend to utilize:
Pegged exchange rates
Freely floating exchange rates
Managed floating exchange rates
Crawling exchange rates
Small nations with more than one major trading partner tend to peg the value of their currencies to:
Gold
Silver
A single currency
A basket of currencies
Which exchange rate system involves a “leaning against the wind” strategy in which short-term fluctuations in exchange rates are reduced without adhering to any particular exchange rate over the long run?
Pegged of fixed exchange rates
Adjustable pegged exchange rates
Managed floating exchange rates
Freely floating exchange rates
The shift toward imperfectly competitive markets in domestic and international trade questions the concept of:
Official exchange rates
Complete currency pass through
Exchange arbitrage
Trade adjustment assistance
Given a two-country world, suppose Japan devalues the yen by 20 percent and West Germany devalues the mark by 15 percent. This result in a (an):
Appreciation in the value of both currencies
Depreciation in the value of both currencies
Appreciation in the value of the yen against the mark
Depreciation in the value of the yen against the mark
The extent to which a change in the exchange rate leads to changes in import and export prices is known as:
The J-Curve
The Marshall-Lerner effect
The absorption effect
Pass-through effect
Suppose that the United Kingdom devalues the pound. If both exports and imports are written in terms of pounds, then the United Kingdom balance of trade _________ during the currency contract period
Improves
Worsens
Is unaffected
False for a while before increasing
Entrepreneurship can be viewed as:
Creative & innovative to the environment
Problem solver
Influenced by money revoids
None of these
Schumpeter has introduced a
Dynamic concept of entrepreneurship
Static concept of
All of these
None of these
McClelland identified how many characteristics of entrepreneurship
1
2
3
None of these
Economic factors that affect entrepreneurship include
Political ideology
Social mobility
Market incentives
All of these
Non-economic factors consist of
Political ideology
Social mobility
Cultural factors
All of these
Entrepreneurship is a
Discontinuous phenomenon
Continuous phenomenon
Both of these
None of these
Difference between mgt and entrepreneurship
Entrepreneurship is a discontinuous phenomenon and mgt. involves continual compnining and ongoing coordination of productive factors
Entrepreneurship is a continuous phenomenon
None of these
Who are likely to become entrepreneurs
People with high need for achievement
People with high need for money
None of these
1 & 2 are correct
Entrepreneurs
Search for change, respond to it and exploit it as an opportunity
Search for opportunity, respond to it and exploit it as an change
Are money aventd
None of these
High need for achievement is more closely related to
Psychological factor
Physiological factor
None of these
______ implies a set of values, nons and traits that are conducive to the growth of entrepreneurship.
Entrepreneurial system
Entrepreneurial culture
Both of these
None of these
______ is the corporate culture which focuses on existing opportunities organizational structures and control procedures
Administrative culture
Management culture
Entrepreneurial culture
None of these
Stauworth and Curran have explained entrepreneurship in terms of
Social marginality
Risk taking
Initiation
None of these
Implies a situation in which these is a discontinuity between the individuals personal attributes and the role or roles which the individual hold in society
Socio-economic farrier
Social marginality
Protectionism monopoly
None of these
Entrepreneurship has been derived from a
Cot in root
Indian rook
French root
None of these
Entrepreneurship can be called as
Money oriented and risk taking
Adventurism and thrill seeking
Both of these
None of these
According to Harbison
Entrepreneurship implies the skill to build and organization
Entrepreneurship is a creative activity
Both are correct
None of these
Managerial skills and leadership are the most important facts of entrepreneurship
Defined by itoselitz
By schumpeter
By ifarbison
None of these
“Routine entrepreneurship” is
Associated with the innovativeness
Associated with managerial function
None of these
Both of these
New entrepreneurship is concerned with
Managerial function of business
Innovativeness
Both of these
None of these
Max Weber has analyzed
Social structure of entrepreneurship
Economic structure of entrepreneurship
Religion and its impact on enterprising culture
None of these
“Spirit of capitalism” is according to
Hagen
Kunkel
Hoselitz
Max Weber
______ is a set of attitudes towards the acquisition of money and the activities involved in it
Adventurous spirit
Spirit of capitalisation
Both of these
None of these
A conceptual model of entrepreneurship includes
Task, organization, environment, person
Cultural factor, social factor, person, economic factor
Social factor, economic factor, task, organization
None of these
The entrepreneur is both a:
Dreama and risk laber
Dreama and a doer
Does and risk laber
None of these
Joseph schumpeter entrepreneur is
Large scale businessman who creates something new
Small scale businessman who invents something new
Both of these
None of these
“An entrepreneur is one who always searches for change responds to it and exploits it as an opportunity” was given by
Schumpeter
Holitz
Peter Drucker
None of these
There are different opinions on the emergence of entrepreneurship
Economist view
Sociologist’s view
Psychologist’s view
All of these
Under a given degree of ambition and ability
External environment rather than personality or ego are the major determinants of becoming an entrepreneur
Personality a ego rather than external environment are the major determinants of becoming an entrepreneur
Both these statements are correct
Both these statements are wrong
The term intrapreneur was coined is_______
America
France
England
India