On Which of the Following Observations Was Raymond Vernon's Product

question 82

Multiple Choice

On which of the following observations was Raymond Vernon's product life-cycle theory based?

• A)The wealth and size of the U.S.market gave U.S.firms a strong incentive to develop new consumer products.
• B)The high cost of U.S.labor gave U.S.firms an incentive to develop cost-saving process innovations.
• C)The United States developed a very large proportion of the world's new products for most of the twentieth century and sold them first in the U.S.market.
• D)The United States exports goods that heavily use skilled labor and imports heavy manufacturing products that use large amounts of capital.
• E)The United States has long been a substantial exporter of agricultural goods,reflecting in part its unusual abundance of arable land.

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