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What are the most likely reason the US corporation would open a factory?
to take advantage of abundant resources. to take advantage of lower labor costs. to take advantage of favorable tax laws. to take advantage of employment opportunities.
How Does globalization cause the foreign sector?
How does globalization cause the foreign sector to influence the economy? The foreign sector influences how imports and exports move between firms and households. more options and lower prices.
How a Corporation Is Like a Person
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How have airplanes change the way the world does business tools for answers?
by making long trips less expensive by making long trips in less time by opening up new trade markets by increasing hiring opportunities by increasing travel options.
What business practice of hiring workers in another country is known as?
The business practice of hiring workers in another country is known as. Outsourcing.
Which is the best conclusion that can be drawn about the economies of the US and Western Europe?
9.1 Based on the map, which is the best conclusion that can be drawn about the economies of the US and Western Europe? The US and Western Europe are strong because they have high GDPs.
Why does the US import oil quizlet?
The United States is said to have an absolute advantage in producing food compared with Japan. … Why does the US import oil? because it does not produce enough oil.
What is the most common reason why countries create trade agreements?
For the United States, the main goal of trade agreements is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance the rule of law in the FTA partner country or countries. Currently, the United States has 14 FTAs with 20 countries.
What is the most common reason why countries create trade agreements quizlet?
What is the most common reason why countries create trade agreements? have fewer economic restrictions. With which statement would President Bill Clinton most likely have agreed? Free trade must be carefully monitored.
When a country chooses to limit the kinds of goods or services?
When a country chooses to limit the kinds of goods or services it produces, it is practicing specialization.
Why is the US economy so strong?
The nation’s economy is fueled by abundant natural resources, a well-developed infrastructure, and high productivity.
Which of the following factors most likely contribute to economic growth?
–An increase in the quantity of labor always leads to economic growth. -Increased education adds to the stock of human capital, not unlike building factories adds to the stock of physical capital. -A decrease in the productivity of labour leads to economic growth. -Third World countries are rich in human capital.
Why is strong economic growth good for a country?
Economic growth increases state capacity and the supply of public goods. When economies grow, states can tax that revenue and gain the capacity and resources needed to provide the public goods and services that their citizens need, like healthcare, education, social protection and basic public services.
The Purpose of the American Corporation
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Which is the best example of outsourcing?
Answer: The right answer to the question “Which is the best example of outsourcing” is – A US shoe company opens a factory in China and hires Chinese workers to make shoes.
What has increased the pace of globalization?
Developments in IT, transport and communications have accelerated the pace of globalisation over the past 40 years. The internet has enabled fast and 24/7 global communication, and the use of containerisation has enabled vast quantities of goods and commodities to be shipped across the world at extremely low cost.
What kind of advantage does a country have if it can make a product more efficiently?
Absolute advantage refers to the ability of a country to produce a good more efficiently than other countries. In other words, a country that has an absolute advantage can produce a good with lower marginal cost (fewer materials, cheaper materials, in less time, with fewer workers, with cheaper workers, etc.).
What conclusion can be drawn about the US economy as a whole between 2006 and 2009?
What conclusion can be drawn about the US economy as a whole between 2006 and 2009? It remained level.
What is the benefit in reaching the absolute advantage in the production of one good?
What is the benefit in reaching the absolute advantage in the production of one good? c. to produce more units of a good while using fewer resources. What kind of advantage does a country have if it can make a product more inexpensively?
Which statement best describes how globalization connects the world?
Which statement best describes how globalization connects to the world? The correct answer is letter B: The world is becoming more globalized and connected. Due to modern means of communication and transportation, the world is unified.
Why does the US import oil because it does not produce any oil?
He told Newsweek that the U.S. uses more barrels of oil per day than it produces, necessitating imports from abroad. “The U.S. imports oil because consumption of oil products—about 20 million barrels per day—is greater than the quantity of crude oil it produces, about 18 million barrels per day,” Kaufmann said.
Which trade organization is responsible for 90% of the world’s trade?
By the time GATT was replaced by the World Trade Organization (WTO) in 1995, 125 nations were signatories to its agreements, which had become a code of conduct governing 90 percent of world trade.
How much oil does the United States import each year?
Crude oil imports of about 6.11 million b/d accounted for about 72% of U.S. total gross petroleum imports in 2021, and non-crude oil petroleum accounted for about 28% of U.S. total gross petroleum imports. In 2021, the United States exported about 8.63 million b/d of petroleum to 176 countries and 4 U.S. territories.
What is the most common reason why countries create trade agreements to limit imports to create free trade to establish quotas?
Countries use quotas in international trade to help regulate the volume of trade between them and other countries. Countries sometimes impose quotas on specific products to reduce imports and increase domestic production. In theory, quotas boost domestic production by restricting foreign competition.
Why Global Supply Chains May Never Be the Same | A WSJ Documentary
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What is one of the major purposes of the World Trade Organization Brainly?
The World Trade Organization — the WTO — is the international organization whose primary purpose is to open trade for the benefit of all.
What is one stated purpose of the World Trade Organization?
In brief, the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
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