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  • Which of the following is an indication of the increased globalization of business since the end of World War II? #561
  • South Korea's emergence as a global competitor by building on imported technologies and targeting technical education to become both a competitive and technical leader is largely due to its adoption of ________ trade policy. #562
  • The trade theory that says a country should export more than it imports is known as ________. #563
  • Under mercantilism, governments sought to influence trade by ________. #564
  • Which of the following undesirable results will most likely occur for a country running a favorable balance of trade? #565
  • Neomercantilism describes the approach of countries that try to run a favorable balance of trade to ________. #566
  • According to Adam Smith's theory of absolute advantage, specialization allows countries to increase their efficiency for each of the following reasons EXCEPT ________. #567
  • Which of the following is most likely a basis for a Taiwan's natural advantage in the production of tea? #568
  • Both absolute and comparative advantage theories assume that ________ is the only resource used in the production process. #569
  • As a leading exporter of luxury automobiles, Germany has built a strong reputation in engineering. Germany's trade most likely relies on a(n) ________. #570
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