3 Which of the following choices correctly matches a scholar with the theory

3.Which of the following choicescorrectly matches a scholar with thetheory that he or she proposed?a.Adam Smith/Comparative Advantageb.David Ricardo/New Tradec.Raymond Vernon/Product Life Cycled.Eli Heckscher/Absolute Advantagee.Michael Porter/Factor Endowment

4.Product life-cycle theory was based onthe observation that for most of the20thcentury a very large proportion ofthe world's new products had beendeveloped by U.S. firms and sold first in

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the __________ market.5.Porter argues that a nation's firms gaincompetitive advantage if theirdomestic consumers are:

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6.The __________ theory argues thatdue to the presence of substantialscale economies, world demand willsupport only a few firms in manyindustries.

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7.Which of these statements is trueabout specialization and trade?a.A country should specialize in and export the goodfor which it has absolute advantage.b.A country should specialize in and import the goodfor which it has comparative advantage.c.A country should specialize in and import the goodfor which it has absolute advantage.d.A country should specialize in and export the good

for which they have comparative advantage.e.A country should specialize in and export a good forwhich they have both comparative and absoluteadvantage.Based on your final research paper, the following questions or similar ones may be on your final exam!Identify two things you learned from writing on this subject (number each one)1An important discovery I made while researching this topic is the incredibly rapid pace thatthe sea ice is melting. While I was aware of a thawing artic, my mental image of the arcticwas of an unchanging icy landscape. Given information we uncovered, clearly this image willsoon be a thing of the past.2Another more positive discovery made was the efforts made by the Canadian government tolimit Arctic oil exploration. I wish the same efforts to conduct a rigorous science basedinquiry involving local indigenous populations would be extended to mining efforts.Two things you discovered/realized based on my feedback. (Number each one)1.We considered a section on Chinas interest in the arctic, but ultimately decided against it aswe decided it was too large of a topic to cover properly while staying on topic. Chinas beltand road vision and how it relates to the arctic is a full topic deserving of its own researchpaper!2.Of all comments, I found one particularly interesting. I found it interesting how the Russiangovernment is providing incentives to attract industries to the arctic and generate economicactivity in support of Arctic developmentTwo things you would change based on my feedback, (Number each one)1.In the summary and conclusion section, we should have put more care into includingrecommendations. While we discussed specific topics and the concerns around them wedidn’t proposals any solutions in how they should be addressed.