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The practice of selling a product abroad for less than the cost of production?

Dumping.


What is the description of the Gross National Product?

the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production


Why are clothes made abroad?

production cost is low (mostly b/c of the wages)


What is the best description of the gross national product?

the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production


Which of these is the best description of the Gross Domestic Product?

the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production


What are the Kinds of dumping and its definition?

F Dumping ⇔ international price discrimination » Selling same product at different prices, at home and abroad F GATT/WTO definition » Selling in the foreign market at price < price in home market F US and alternative GATT/WTO definition » Selling in the foreign market at price < "fair market value" which is often taken to mean < "normal average cost


Which of theses is the best description of the gross domestic product?

the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production


What are the three major types of cross-border transactions?

3 major types of cross-border transactions:buying or selling productsbuying or selling servicesproducing or selling products or services abroad by establishing a foreign presence tluough direct investment.


What allows another firm to produce and sell a company's product abroad?

foreign license agreement


Why do some companies make luxury product abroad rather than at home?

It's cheaper


What is the difference between Gross National Product (GNP) and Gross National Income (GNI)?

Gross National Product (GNP) measures the total value of goods and services produced by a country's residents, regardless of where they are located. Gross National Income (GNI) includes the total income earned by a country's residents, both domestically and abroad. The main difference is that GNP focuses on production, while GNI includes income earned from production.


Which of e following is the act of buying and selling money using other types of money?

This is called exchanging currency, and it is usually required when traveling abroad.