business chapter 3

true or false: Despite the growth rates in many high-population countries being weak, most of these nations remain ahead of the United States in terms of development and prosperity.

false

true or false: In the context of competitive advantage, the value of the first-best choice represents the opportunity cost of producing a second product.

false

true or false: In the context of foreign direct investment, a partnership typically involves a less formal, less encompassing agreement than a strategic alliance.

false

true or false: In the context of global trade, the exchange rate can directly measure global commerce.

false

true or false: A firm that contracts with foreign producers has an obligation to ensure that those factories adhere to ethical standards.

true

true or false: Foreign licensing helps circumvent government restrictions on importing in closed markets.

true

true or false: In the context of international trade, often countries with the highest trade barriers have the least competition.

true

true or false: In the context of the barriers to international trade, the infrastructural differences between two countries fall into the category of economic differences.

true

true or false: the balance of trade plays a central role in determining the balance of payments.

true