The new trade theory emerged from the thought that the ability of firms to attain economies of scale might have important implications for international trade
Indicate whether the statement is true or false.
TRUE
The new trade theory began to emerge in the 1970s when a number of economists pointed out that the ability of firms to attain economies of scale might have important implications for international trade. Economies of scale are unit cost reductions associated with a large scale of output.
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Which of the following is true regarding the use of LIFO for inventory valuation?
a. If LIFO is used for external financial reporting, then it must also be used for internal reports. b. For purposes of external financial reporting, LIFO may not be used with the lower of cost or market approach. c. If LIFO is used for external financial reporting, then it cannot be used for tax purposes. d. None of these.
A ____ leader has a special ability to generate excitement and revitalize organizations
Fill in the blank(s) with the appropriate word(s).