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The phase of the globalization process characterized by imports from foreign suppliers and exports to foreign buyers is called the

A. domestic phase.
B. multinational phase.
C. international trade phase.
D. import-export banking phase.

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The theory that suggests specialization by country can increase worldwide production is ________.

A. the theory of comparative advantage
B. the theory of foreign direct investment
C. the international Fisher effect
D. the theory of working capital management

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Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500, consumption equals 7,500 and government purchases equal 2,000. What are private saving, public saving, and national saving?()

A. 1,500, 1,000, and 500, respectively
B. 1,000, 500, and 1,500, respectively
C. 500, 1,500, and 1,000, respectively
D. None of the other three is correct.

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Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?()

A. efficiency wages
B. job search
C. minimum-wage laws
D. unions

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When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a ()

A. shortage of labor and a shortage of jobs.
B. shortage of labor and a surplus of jobs.
C. surplus of labor and a shortage of jobs.
D. surplus of labor and a surplus of jobs.

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The phase of the globalization process characterized by imports from foreign suppliers and exports to foreign buyers is called the

A. domestic phase. B. multinational phase. C. international trade phase. D. import-export banking phase.

The theory that suggests specialization by country can increase worldwide production is ________.

Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500, consumption equals 7,500 and government purchases equal 2,000. What are private saving, public saving, and national saving?()

Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?()

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a ()

A. domestic phase.
B. multinational phase.
C. international trade phase.
D. import-export banking phase.