Globalization Challenge Notes Questions with Answers PDF Download – Test 11

Globalization leads to the encouragement of technological innovation and

1. interdependence of two countries
2. equity distribution
3. national saving
4. economies of scale

The amount by which the quantity of one input has to be reduced when one extra unit of another input is used, so that output remains constant is known as?

1. marginal rate of transformation
2. marginal rate of technical substitution
3. marginal rate of substitution
4. marginal opportunity costs

The type of dumping adopted under exceptional or unforeseen circumstances when the domestic production of the commodity is more than the target or there are unsold stocks of the commodity even after sales is known as

1. persistent dumping
2. anti-dumping
3. sporadic dumping
4. predatory dumping

The model that relates with the production of two countries, producing two goods, using one factor of production and also quotes the markets will be perfectly competitive is known to be as

1. edge worth model
2. IS-LM model
3. demand and supply model
4. Ricardian model

An economic transactions between residents of two nations over a stipulated period of time, usually a calendar year is known as

1. transfer payments
2. unilateral transfer
3. bilateral transfer
4. balance of payment