The brain drain refers to the effects of Dutch Disease when the infection spreads to other countries.
Indicate whether the statement is true or false
Question 2 - Firms that produce ________ products must be ________ competitive.
A) differentiated; imperfectly
B) differentiated; perfectly
C) standardized; imperfectly
D) standardized; perfectly
E) exported; imperfectly
Question 3 - Each of the 15 members of the European Union that joined before May 2004 use the euro as their currency.
Indicate whether the statement is true or false
Question 4 - The infant industry argument was an important theoretical basis for
A) neo-colonialist theory of international exploitation.
B) import-substituting industrialization.
C) historiography of the industrial revolution in Western Europe.
D) the East-Asian miracle.
E) the reduction of tariffs on Western Europe.
Question 5 - Offshoring became a concern in the 1980s when modern communication and transport technology made it possible for firms to relocate production abroad.
Indicate whether the statement is true or false
Question 6 - Explain the elasticities and absorption approaches to the BOT. What is the most notable shortcoming of these approaches?
What will be an ideal response?
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