Which of the following is NOT a likely result of intraindustry trade based on internal economies of scale?
A) Job creation at domestic firms entering international trade
B) Lower prices for the domestic consumers of the product now being traded
C) Increased sales and lower per unit costs for the firm doing the exporting
D) Higher prices for the exported product
D
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When economists describe the theory of consumer choice, they
a. portray people as simple and methodical with perfectly predictable patterns of behavior. b. assert that consumer's decisions are based on which goods and services give them the greatest utility within their limited incomes. c. point out that consumers rarely consider utility in their purchase decisions; they look at other factors like convenience, peer behavior, and price. d. assert that the retail price is the only variable consumers really consider in making their purchasing decisions. e. admit that consumer behavior is random and there is no credible economic theory to explain the phenomenon.
Most employees ________ pay taxes on the value of health insurance provided by employers, and most people ________ get a tax break when buying individual health insurance policies
A) do; do B) do; do not C) do not; do D) do not; do not