Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Deep integration

Accepted Answer

A) is easier to achieve than shallow integration. 
B) is less controversial than shallow integration. 
C) does not require changing domestic policies unrelated to tariffs and quotas. 
D) requires cooperation with other national governments or international bodies. 
A) is easier to achieve than shallow integration. 
B) is less controversial than shallow integration. 
C) does not require changing domestic policies unrelated to tariffs and quotas. 
D) requires cooperation with other national governments or international bodies.

Question 3

An example of a foreign direct investment (FDI)would include

Accepted Answer

A) a U.S. couple buying land for their dream retirement home in Costa Rica. 
B) a U.S. mutual fund manager buying shares of stock in a Brazilian oil company. 
C) a U.S. firm expanding its U.S. operations. 
D) a wealthy Mexican buying U.S. Treasury bills. 
A) a U.S. couple buying land for their dream retirement home in Costa Rica. 
B) a U.S. mutual fund manager buying shares of stock in a Brazilian oil company. 
C) a U.S. firm expanding its U.S. operations. 
D) a wealthy Mexican buying U.S. Treasury bills.

Question 4

All of the following are differences in capital flows today from the past,EXCEPT

Accepted Answer

A) the increasing variety of financial instruments. 
B) the larger number of companies listed on world stock exchanges. 
C) the need to protect from sudden changes in currency values. 
D) the problem of volatility in financial capital flows. 
A) the increasing variety of financial instruments. 
B) the larger number of companies listed on world stock exchanges. 
C) the need to protect from sudden changes in currency values. 
D) the problem of volatility in financial capital flows.

Question 5

Financial capital flows could include

Accepted Answer

A) real estate purchases. 
B) construction of factories. 
C) the purchase of the physical assets and operations of a multinational corporation by another. 
D) currency market transactions. 
A) real estate purchases. 
B) construction of factories. 
C) the purchase of the physical assets and operations of a multinational corporation by another. 
D) currency market transactions.

Question 6

Transactions costs in international financial markets are higher today than they were in the past.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true?

Accepted Answer

A) Domestic policies are never barriers to trade. 
B) Tariffs and quotas in industrial nations are significantly higher now than they were in 1950. 
C) Tariffs and quotas are the primary trade barrier in industrialized countries. 
D) Domestic policies intended to protect consumers or the environment may become trade barriers. 
A) Domestic policies are never barriers to trade. 
B) Tariffs and quotas in industrial nations are significantly higher now than they were in 1950. 
C) Tariffs and quotas are the primary trade barrier in industrialized countries. 
D) Domestic policies intended to protect consumers or the environment may become trade barriers.

Question 8

One of the reasons we know that international labor mobility has been higher at other times is because

Accepted Answer

A) the percent of our population that was foreign born was higher. 
B) wages were lower. 
C) labor was important in agriculture. 
D) the population was younger. 
A) the percent of our population that was foreign born was higher. 
B) wages were lower. 
C) labor was important in agriculture. 
D) the population was younger.

Question 9

What are the negative impacts of migration for the nation receiving migrants?

Accepted Answer

More competition for

Question 10

Describe at least three ways that global capital markets are different today from what they were like in the late 19th century.

Accepted Answer

There are more varieties of financial in

Question 11

A major impact of the transatlantic telegraph was

Accepted Answer

A) a reduction in time required to complete a financial transaction between New York and London 
B) an increase in labor flows across the Atlantic. 
C) a decrease in trade barriers between the United States and Europe. 
D) an increase in trade conflicts between the United States and Europe. 
A) a reduction in time required to complete a financial transaction between New York and London 
B) an increase in labor flows across the Atlantic. 
C) a decrease in trade barriers between the United States and Europe. 
D) an increase in trade conflicts between the United States and Europe.

Question 12

Which nations does the acronym BRIC stand for?

Accepted Answer

Brazil,Rus

Question 13

A relative measure of the importance of trade is

Accepted Answer

A) the dollar value of trade. 
B) trade as a percentage of GDP. 
C) the dollar value of trade adjusted for inflation. 
D) trade as a percentage of investment. 
A) the dollar value of trade. 
B) trade as a percentage of GDP. 
C) the dollar value of trade adjusted for inflation. 
D) trade as a percentage of investment.

Question 14

How is the international economy qualitatively different in the first part of the 21st century from what it was like in the first part of the 20th century?

Accepted Answer

Since tariffs and quotas have been reduc

Question 15

One of the distinguishing characteristics of capital mobility today is that

Accepted Answer

A) there are far more kinds of financial instruments than there were 100 years ago. 
B) nations are no longer dependent on their own national savings for their investment funds. 
C) the bulk of foreign capital flows are tied to labor flows. 
D) currency markets play a less significant role than they did in the past. 
A) there are far more kinds of financial instruments than there were 100 years ago. 
B) nations are no longer dependent on their own national savings for their investment funds. 
C) the bulk of foreign capital flows are tied to labor flows. 
D) currency markets play a less significant role than they did in the past.

Question 16

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

Accepted Answer

A) are a commodity such as iron ore. 
B) are an agricultural product such as wheat. 
C) are technological and involve assembling many different types of sometimes sophisticated components. 
D) are produced and consumed domestically. 
A) are a commodity such as iron ore. 
B) are an agricultural product such as wheat. 
C) are technological and involve assembling many different types of sometimes sophisticated components. 
D) are produced and consumed domestically.

Question 17

The trade-to-GDP ratio for a nation that had $600 million in exports,$400 million in imports,and GDP of $2,000 million would be

Accepted Answer

A) 0)1. 
B) 0)2. 
C) 0)5. 
D) -0.1. 
A) 0)1. 
B) 0)2. 
C) 0)5. 
D) -0.1.

Question 18

Why are high domestic savings rates important?

Accepted Answer

High savings rates a

Question 19

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

Accepted Answer

The answer of What do economists call movements of labor...

Question 20

Labor mobility was

Accepted Answer

A) less in 1900 than in 2010. 
B) unimportant to global integration until the 1960s. 
C) greater in 1900 than in 2010. 
D) never controversial. 
A) less in 1900 than in 2010. 
B) unimportant to global integration until the 1960s. 
C) greater in 1900 than in 2010. 
D) never controversial.

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

Deep integration

An example of a foreign direct investment (FDI)would include

All of the following are differences in capital flows today from the past,EXCEPT

Financial capital flows could include

Transactions costs in international financial markets are higher today than they were in the past.

Which of the following is true?

One of the reasons we know that international labor mobility has been higher at other times is because

What are the negative impacts of migration for the nation receiving migrants?

Describe at least three ways that global capital markets are different today from what they were like in the late 19th century.

A major impact of the transatlantic telegraph was

Which nations does the acronym BRIC stand for?

A relative measure of the importance of trade is

How is the international economy qualitatively different in the first part of the 21st century from what it was like in the first part of the 20th century?

One of the distinguishing characteristics of capital mobility today is that

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

The trade-to-GDP ratio for a nation that had $600 million in exports,$400 million in imports,and GDP of $2,000 million would be

Why are high domestic savings rates important?

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

Labor mobility was

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

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

Deep integration

An example of a foreign direct investment (FDI)would include

All of the following are differences in capital flows today from the past,EXCEPT

Financial capital flows could include

Transactions costs in international financial markets are higher today than they were in the past.

Which of the following is true?

One of the reasons we know that international labor mobility has been higher at other times is because

What are the negative impacts of migration for the nation receiving migrants?

Describe at least three ways that global capital markets are different today from what they were like in the late 19th century.

A major impact of the transatlantic telegraph was

Which nations does the acronym BRIC stand for?

A relative measure of the importance of trade is

How is the international economy qualitatively different in the first part of the 21st century from what it was like in the first part of the 20th century?

One of the distinguishing characteristics of capital mobility today is that

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

The trade-to-GDP ratio for a nation that had $600 million in exports,$400 million in imports,and GDP of $2,000 million would be

Why are high domestic savings rates important?

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

Labor mobility was

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