7. Offshoring happens when: (Circle one) A. A company contracts some of their jobs to international firms abroad B. Students study using the internet C. An American loses their job D. A company contracts some of their jobs to other domestic firms
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" Offshoring refers to the practice of a company moving a part of its business operations to another country to reduce costs or access new markets. This can include manufacturing, customer service, or any other business function. Show more…
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Which of the choices is an example of offshore outsourcing? a. The United States sells billions of dollars of goods that are exported to other nations. b. Apple, a California based company, employs thousands of workers in the state of Texas. c. Toyota, a Japanese car manufacturer, employs around 40,000 autoworkers in the United States. d. The United States imports billions of dollars of goods from China each year.
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Multinationals generally have production plants in a number of countries. Consequently, they can move production from expensive locations to cheaper ones in response to various economic developments- a phenomenon called outsourcing when a domestically based firm moves part of its production abroad. If the dollar depreciates, what would you expect to happen to outsourcing by American companies? Explain and provide an example.
The infant industry argument for protectionism is based on which of the following views? a. Foreign buyers will absorb all of the output of domestic producers in a new industry. b. The growth of an industry that is new to a nation will be too rapid unless trade restrictions are imposed. c. Firms in a newly developing domestic industry will have difficulty growing if they face strong competition from established foreign firms. d. It is based on none of the above.
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