Untitled Flashcards Set

studied byStudied by 0 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 20

encourage image

There's no tags or description

Looks like no one added any tags here yet for you.

21 Terms

1
Who gains from tariffs?
Government and domestic producers.
New cards
2
Who suffers from tariffs?
Consumers and the world economy.
New cards
3
Subsidies
Government payment to domestic producers.
New cards
4
Economies of scale
Factors that cause a producer's average cost per unit to fall as output rises.
New cards
5
Voluntary Export Restraint (VER)
A quota on trade imposed from the exporting country's side.
New cards
6
Quota rent
Extra profit producers make when supply is artificially limited by an import quota.
New cards
7
Local Content Requirement (LCR)
A requirement that a specific fraction of a good be produced domestically.
New cards
8
Dumping
Selling goods in another country below market prices to drive competition out then raise prices.
New cards
9
Political Arguments for Government Intervention
Protecting jobs and industries; protecting national security.
New cards
10
Krugman's view on strategic trade policies
Policies that establish domestic firms in a dominant position but may provoke retaliation.
New cards
11
FDI Limitations to Exporting
Governments increase the attractiveness of FDI by limiting imports through quotas and tariffs.
New cards
12
Limitations of Licensing
Involves giving away tech knowledge and lack of control over production, marketing, and strategy.
New cards
13
Greenfield Investments
The establishment of a wholly new operation in a foreign country.
New cards
14
Internalization Theory
Firms prefer FDI over licensing to retain control over capabilities.
New cards
15
The Eclectic Paradigm
Combines location-specific assets and firm's unique assets to necessitate FDI.
New cards
16
Pragmatic Nationalism
Supports FDI only when its national benefits outweigh costs.
New cards
17
Host Country Benefits of FDI
Balance of payments effects and surpluses by replacing other imports.
New cards
18
Home Country Benefits of FDI
Inward flow of earnings, employment, and learning from other countries.
New cards
19
Levels of Economic Integration
Political, economic, common, customs, and free trade.
New cards
20
Customs Union
Eliminates trade barriers between member countries and adopts a common external trade policy.
New cards
21
Common Market
A group of countries acting as a single market without trade barriers between them.
New cards

Explore top notes

note Note
studied byStudied by 64 people
213 days ago
4.7(3)
note Note
studied byStudied by 26 people
891 days ago
5.0(1)
note Note
studied byStudied by 25 people
514 days ago
5.0(1)
note Note
studied byStudied by 4 people
688 days ago
5.0(1)
note Note
studied byStudied by 16 people
903 days ago
5.0(1)
note Note
studied byStudied by 10 people
760 days ago
5.0(1)
note Note
studied byStudied by 67 people
701 days ago
5.0(4)
note Note
studied byStudied by 44 people
758 days ago
5.0(3)

Explore top flashcards

flashcards Flashcard (92)
studied byStudied by 11 people
841 days ago
4.0(1)
flashcards Flashcard (116)
studied byStudied by 10 people
800 days ago
5.0(1)
flashcards Flashcard (43)
studied byStudied by 15 people
3 days ago
5.0(1)
flashcards Flashcard (57)
studied byStudied by 17 people
751 days ago
5.0(2)
flashcards Flashcard (40)
studied byStudied by 2 people
177 days ago
5.0(1)
flashcards Flashcard (71)
studied byStudied by 42 people
385 days ago
5.0(4)
flashcards Flashcard (82)
studied byStudied by 41 people
88 days ago
5.0(1)
flashcards Flashcard (222)
studied byStudied by 29 people
646 days ago
5.0(1)
robot