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Which of the following refers to the ability of a nation to produce a good more efficiently than any other nation?  

If Happyland advertises its beaches and attracts tourists, the tourism-related income would be recorded in its ________ account.  

According to the international product life cycle theory, in which stage of a product’s life cycle does a company directly invest in production facilities in countries where demand is great enough to warrant production facilities?  

________ represents the purchase of physical assets or a significant amount of the ownership (stock) of a company in an-other country to gain a measure of management control.  

A country imposes export quotas on its domestic producers if it wishes to maintain adequate supplies of a product in the home market.  

According to the international product life cycle theory, in which of the following stages is a good produced in the home country because of uncertain domestic demand and to keep production close to the research department?  

The purpose of ________ is to force companies from other nations to use local resources in their production processes, particularly labor.  

________ is the value of goods and services that can be purchased with one unit of a country’s currency.  

Nations having the low-quality infrastructures and low personal incomes are called ________.  

The measures of a nation’s well-being other than the financial wealth accumulated through exports are irrelevant according to ________.