Question 1

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

Accepted Answer

A) higher trade-to-GDP ratios. 
B) lower trade-to-GDP ratios. 
C) relatively greater capital outflows. 
D) relatively smaller capital outflows. 
A) higher trade-to-GDP ratios. 
B) lower trade-to-GDP ratios. 
C) relatively greater capital outflows. 
D) relatively smaller capital outflows. B

Question 2

Countries that have high rates of savings also have

Accepted Answer

A) high rates of investment. 
B) low rates of investment. 
C) stock market bubbles. 
D) low rates of growth. 
A) high rates of investment. 
B) low rates of investment. 
C) stock market bubbles. 
D) low rates of growth. A

Question 3

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

Accepted Answer

A) True 
 B)False  False

Question 4

Compare and contrast globalization as it existed in the late nineteenth century with globalization today.

Accepted Answer

I would expect my students to address th

Question 5

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

Accepted Answer

Some of the advantages are that buyers r

Question 6

How has the composition of trade flows changed from the early 20th century to today? Compared to the past,is anything about trade today new?

Accepted Answer

Prior to World War I,most trade consiste

Question 7

Open economies grow more slowly than closed economies.

Accepted Answer

A) True 
 B)False

Question 8

The trade-to-GDP ratio is calculated by

Accepted Answer

A) exports divided by GDP. 
B) imports divided by GDP. 
C) exports plus imports divided by GDP. 
D) exports minus imports divided by GDP. 
A) exports divided by GDP. 
B) imports divided by GDP. 
C) exports plus imports divided by GDP. 
D) exports minus imports divided by GDP.

Question 9

Daily foreign exchange transactions have grown from about $15 billion in 1973 to over $5 trillion today.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) Latin America 
B) East Asia 
C) The United States and Canada 
D) The European Union 
A) Latin America 
B) East Asia 
C) The United States and Canada 
D) The European Union

Question 11

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

Accepted Answer

A) An agreement to reduce tariffs and quotas 
B) An agreement to unify customs forms in order to speed up cross-border traffic 
C) An agreement to impose the same limits on cartels and monopolies 
D) An agreement to reduce exports 
A) An agreement to reduce tariffs and quotas 
B) An agreement to unify customs forms in order to speed up cross-border traffic 
C) An agreement to impose the same limits on cartels and monopolies 
D) An agreement to reduce exports

Question 12

Domestic agricultural subsidies intended to support the nation's farmers would not be considered a trade barrier so would not be disputed internationally.

Accepted Answer

A) True 
 B)False

Question 13

The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years

Accepted Answer

A) around 1970. 
B) around World War II. 
C) around World War I. 
D) around 2008. 
A) around 1970. 
B) around World War II. 
C) around World War I. 
D) around 2008.

Question 14

Since the end of World War II,

Accepted Answer

A) world trade has grown more slowly than world GDP in the same time period. 
B) world trade has grown more slowly than during the years leading up to World War II. 
C) the trade-to-GDP ratios of most countries have fallen. 
D) world trade has grown more rapidly than world output. 
A) world trade has grown more slowly than world GDP in the same time period. 
B) world trade has grown more slowly than during the years leading up to World War II. 
C) the trade-to-GDP ratios of most countries have fallen. 
D) world trade has grown more rapidly than world output.

Question 15

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.

Accepted Answer

A) True 
 B)False

Question 16

Most economists support open trade because it increase our choices as consumers,lowers costs for producers,increases competition and innovation,and leads to greater diffusion of technological change.

Accepted Answer

A) True 
 B)False

Question 17

The four criteria for economic integration include trade flows,capital flows,people flows,and the similarity of prices in separate markets.

Accepted Answer

A) True 
 B)False

Question 18

Capital and labor only very recently have been free to move across international borders.

Accepted Answer

A) True 
 B)False

Question 19

One important difference between the international economy of today and the economy of 100 years ago is

Accepted Answer

A) that labor is much more mobile. 
B) for the first time, technological innovations have reduced the barrier of distance. 
C) for the first time, capital is mobile. 
D) the presence of international bodies such as the IMF and World Bank. 
A) that labor is much more mobile. 
B) for the first time, technological innovations have reduced the barrier of distance. 
C) for the first time, capital is mobile. 
D) the presence of international bodies such as the IMF and World Bank.

Question 20

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

Accepted Answer

A) An agreement to accept another nation's certification of architects 
B) An agreement to unify customs forms in order to speed up cross-border traffic 
C) An agreement to use the same environmental standards 
D) An agreement to impose the same limits on cartels and monopolies 
A) An agreement to accept another nation's certification of architects 
B) An agreement to unify customs forms in order to speed up cross-border traffic 
C) An agreement to use the same environmental standards 
D) An agreement to impose the same limits on cartels and monopolies

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

Countries that have high rates of savings also have

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

Compare and contrast globalization as it existed in the late nineteenth century with globalization today.

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

How has the composition of trade flows changed from the early 20th century to today? Compared to the past,is anything about trade today new?

Open economies grow more slowly than closed economies.

The trade-to-GDP ratio is calculated by

Daily foreign exchange transactions have grown from about $15 billion in 1973 to over $5 trillion today.

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

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

Domestic agricultural subsidies intended to support the nation's farmers would not be considered a trade barrier so would not be disputed internationally.

The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years

Since the end of World War II,

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.

Most economists support open trade because it increase our choices as consumers,lowers costs for producers,increases competition and innovation,and leads to greater diffusion of technological change.

The four criteria for economic integration include trade flows,capital flows,people flows,and the similarity of prices in separate markets.

Capital and labor only very recently have been free to move across international borders.

One important difference between the international economy of today and the economy of 100 years ago is

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

International Economic Institutions Since World War II

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

China and India in the World Economy

Filters

Exam 1: The United States in a Global Economy

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

Countries that have high rates of savings also have

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

Compare and contrast globalization as it existed in the late nineteenth century with globalization today.

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

How has the composition of trade flows changed from the early 20th century to today? Compared to the past,is anything about trade today new?

Open economies grow more slowly than closed economies.

The trade-to-GDP ratio is calculated by

Daily foreign exchange transactions have grown from about $15 billion in 1973 to over $5 trillion today.

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

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

Domestic agricultural subsidies intended to support the nation's farmers would not be considered a trade barrier so would not be disputed internationally.

The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years

Since the end of World War II,

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.

Most economists support open trade because it increase our choices as consumers,lowers costs for producers,increases competition and innovation,and leads to greater diffusion of technological change.

The four criteria for economic integration include trade flows,capital flows,people flows,and the similarity of prices in separate markets.

Capital and labor only very recently have been free to move across international borders.

One important difference between the international economy of today and the economy of 100 years ago is

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

International Economic Institutions Since World War II

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

China and India in the World Economy

Filters