D311 EXAM PREP EXAM SCRIPT EXAM
STUDY SHEET 2026 GRADED A+.
◍ A country that imports more than it exports is said to have what?
Answer: Trade deficit
◍ Today, how are differences in trade balances paid off? Answer: By
credit
◍ Which of the following addresses the idea that if a company
perceives a trading partner as gaining to large an advantage, the
company might forgo its own gains to prevent the trading partner
from gaining economic advantage? Answer: The division of gains
◍ The spending on research and development and the perceived
advantage of a product provides a country with which of the
following? Answer: Specialization and acquired advantages
◍ Which phase of the product life cycle is likely to see a shift in
exports markets? Answer: Growth
◍ Which of the following is NOT an important feature for
competitive superiority under the diamond of national competitive
advantage theory? Answer: Sales conditions
, ◍ Which of the following is an effect outward migration on
countries? Answer: Brain drain
◍ Which of the following is an alternative to trade that might or
might not be a more efficient use of resources? Answer: Factor
movement
◍ The protectionism theory that says a government should protect
emerging industry from foreign competition is known as what?
Answer: Infant industry argument
◍ A country that has a high gross domestic product generally has
which of the following? Answer: A large manufacturing base
◍ Which of the following is NOT an assumption made by developing
countries when trying to develop a manufacturing base? Answer:
National activity helps the industry building process.
◍ Which of the following presumes that the unregulated importation
of lower priced products prevents the development of a domestic
industry? Answer: Industrialization argument
◍ Which of the following is considered a noneconomic rationale for
government intervention in trade? Answer: Promoting spheres of
influence abroad
STUDY SHEET 2026 GRADED A+.
◍ A country that imports more than it exports is said to have what?
Answer: Trade deficit
◍ Today, how are differences in trade balances paid off? Answer: By
credit
◍ Which of the following addresses the idea that if a company
perceives a trading partner as gaining to large an advantage, the
company might forgo its own gains to prevent the trading partner
from gaining economic advantage? Answer: The division of gains
◍ The spending on research and development and the perceived
advantage of a product provides a country with which of the
following? Answer: Specialization and acquired advantages
◍ Which phase of the product life cycle is likely to see a shift in
exports markets? Answer: Growth
◍ Which of the following is NOT an important feature for
competitive superiority under the diamond of national competitive
advantage theory? Answer: Sales conditions
, ◍ Which of the following is an effect outward migration on
countries? Answer: Brain drain
◍ Which of the following is an alternative to trade that might or
might not be a more efficient use of resources? Answer: Factor
movement
◍ The protectionism theory that says a government should protect
emerging industry from foreign competition is known as what?
Answer: Infant industry argument
◍ A country that has a high gross domestic product generally has
which of the following? Answer: A large manufacturing base
◍ Which of the following is NOT an assumption made by developing
countries when trying to develop a manufacturing base? Answer:
National activity helps the industry building process.
◍ Which of the following presumes that the unregulated importation
of lower priced products prevents the development of a domestic
industry? Answer: Industrialization argument
◍ Which of the following is considered a noneconomic rationale for
government intervention in trade? Answer: Promoting spheres of
influence abroad
