64.Brain drain relates to which of the following statements?a.Scientists moving from DCs to developing countriesb.Emphasis upon hard work as the key to economic successc.High skilled workers tend to immigrate to richer countriesd.Patent protection should be increased72
65.The Boomerang effect corresponds to which of these points?66.What is technology transfer?73
Additional Practice Questions from the textbook test bankChapter 1 Review test questions2.A main advantage of specialization results from:4.If a nation has an open economy, it means that the nation:a.Allows private ownership of capitalb.Has flexible exchange ratesc.Has fixed exchange ratesd.Conducts trade with other countriesANS: DPTS:15.International trade forces domestic firms to become more competitive in terms of:6.The movement to free international trade is most likely to generate short-term unemployment in which industries?10.The largest amount of trade with the United States in recent years has been conducted by:12.____ is the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms/industries.a.Competitivenessb.Protectionismc.Comparative advantaged.Absolute advantageANS: APTS:174
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