international competitiveness Flashcards
1
Q
measures of international competitiveness
A
relative unit labour costs (average cost of labour per unit of output), relative export prices, the global competitive index
2
Q
international competitiveness
A
a measure of the cost of a country’s goods and services exports relative to those of other countries
3
Q
factor influencing international competitiveness
A
unit labour costs, productivity, exchange rate, labour taxes or subsidies, government laws and regulations, research and development.
4
Q
benefits of being internationally competitive
A
improvement in BofP, reduce unemployment, increase economic growth
5
Q
problems of being internationally uncompetitive
A
deficit on BofP, depreciation in exchange rate, leading to imported inflation
