The International Product Life Cycle

question 83

Multiple Choice

The international product life cycle

• A) explains how international trade in manufactured goods will be linked to gross national income.
• B) states that a nation will trade goods that can be produced with the production factor that is most abundant.
• C) is concerned with the role of innovation in trade patterns.
• D) explains why mercantilism failed.
• E) requires perfect competition as an assumption underlying successful trade.

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