1.Which of the following is NOT a technological development impact? a. nature and structure of employment b. Small and large companies compete side by side. c. knowledgebased economy d. shifting the industrial structure towards a more high-tech 2. The theory of ___________ argues against restrictive trade policies and for nations to instead open their doors to trade so that their people would obtain more goods cheaper in order to raise their living standards. a. comparative advantage b. absolute advantage c. mercantilist d. international product life cycle 3. When assessing the risks of investment, one should consider the following risk of doing business in both Korea and China except a. political b. economic c. legal d. social 4. The benefit of Foreign Direct Investment for the home country excluded a. The effect on the capital account of the home country's balance of payments from the inward flow of foreign earnings. b. Adverse effects on the balance of payments. c. The employment effects that arise from outward FDI. d. The gains from learning valuable skills from foreign markets that can subsequently be transferred back to the home country. 5. Which of the following facilitate international transactions by providing a large and cheap supply of goods based on efficient mass production? a. the innovation of plastics. b. just-in-time strategy. c. expanded global production in food. d. All of the above