Which of the Following Is One Reason That International Specialization

question 72

Multiple Choice

Which of the following is one reason that international specialization in production would occur?  

• A) because of a high tariff imposed by a national government 
• B) because of a low tariff imposed by a national government 
• C) because of diminishing returns due to a variable factor of production 
• D) because of the different resource endowments throughout the world

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Definitions:

Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholders' equity at a specific point in time.

Ending Inventory

The total value of a company's merchandise or goods that have not been sold at the end of an accounting period.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, prior to any purchases or sales.

Next Period

A future accounting period where transactions will be recorded and reported.