Exam 1: The United States in a Global Economy

While the world was fairly integrated at the turn of the last century,most trade was in agricultural and raw materials,whereas today manufactured consumer and producer goods play a much greater role in determining exports and imports.

Countries such as the United States that have large populations tend to have

How is the international economy qualitatively different in the first part of the twenty-first century from what it was like in the first part of the twentieth century?

Capital flows between countries are smaller than in past decades in absolute terms.

What do economists call movements of labor and capital between nations?

Most of what we buy and sell never makes it out of domestic markets.

How has the composition of trade flows changed from the early twentieth century to today? Compared to the past,is anything about trade today new?

Which of the following kinds of agreements between two or more countries would be an example of a deep integration measure?

Labor mobility was

Daily foreign exchange transactions have grow from about $15 billion in 1973 to about $4 trillion today.

Describe at least three ways that global capital markets are different today from what they were like in the late nineteenth century.

Your text mentions several ways that international trade flows are qualitatively different than they were a century ago.Which of the following is NOT one of those ways?

One of the distinguishing characteristics of capital mobility today is that

What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?

Made in the USA or Made in China has less meaning for products that

Which region of the world experienced a decade-long crisis and stagnant or even negative growth rates during the 1980s?

The trade-to-GDP ratio is calculated by

Which of the following kinds of agreements between two or more countries would be an example of a shallow integration measure?

Since the end of World War II,

Which nations does the acronym BRIC stand for?