The product life cycle theory is criticized because _____.
A) it assumes that absolute and comparative advantages stem from different factor endowments
B) it assumes that China is absolutely inefficient than the United States in the production of both wheat and aircrafts
C) it argues that by trying to be self-sufficient and producing a wide range of goods,the wealth of a nation is reduced.
D) it assumes that a stage-by-stage migration of production takes at least several years,if not decades
Correct Answer:
Verified
Q24: Which of the following is true of
Q25: China is able to produce wheat relatively
Q26: _ is defined as the relative advantage
Q27: Strategic trade theory suggests that strategic intervention
Q28: Which of the following statements is true
Q30: The theory of national competitive advantage of
Q31: In the context of the product life
Q32: A(n)_ is a means of discouraging imports
Q33: According to the theory of absolute advantage,which
Q34: The _ theory is also known as
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