Which of the following is a typical outcome of free trade? A) ...

[charchew]

Which of the following is a typical outcome of free trade?
 
  A) Unrestricted international trade generally increases the overall prosperity of poor countries.
  B) Free trade sustains inflation in developing economies.
  C) Domestically produced products tend to be cheaper than imported products.
  D) Lower-cost imports cause living standards to deteriorate.

Question 2

What is implied by industrialization? How does it bring about economic development?
 
  What will be an ideal response?

Question 3

The more diverse the firm's global supply chain, the lesser the cost of logistics.
 
  Indicate whether the statement is true or false

[jomama]

Answer to Question 1

A

Answer to Question 2

Many emerging markets-rapidly developing economies in Asia, Latin America, and Eastern Europe-have now moved from being low value-adding commodity producers to sophisticated, competitive producers and exporters of premium products. These include such products as electronics, computers, and aircraft. For example, Brazil is now a leading manufacturer of Embraer commercial aircraft. The Czech Republic excels in producing automobiles. India is a leading supplier of software. Economic development results in increased incomes and living standards. Perhaps the most important measure of economic development is gross national income (GNI) per head.

Answer to Question 3

FALSE