File: Ch01; Chapter 1: Introduction
Multiple Choice
1. Which of the following products are not produced at all in the United States?
a. Coffee, tea, cocoa
b. steel, copper, aluminum
c. petroleum, coal, natural gas
d. typewriters, computers, airplanes
Ans: a
Level: Easy
Heading: The Globalization of the World Economy
2. International trade is most important to the standard of living of:
a. the United States
b. Switzerland
c. Germany
d. England
,Ans: b
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
3. Over time, the economic interdependence of nations has:
a. grown
b. diminished
c. remained unchanged
d. cannot say
Ans: a
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
4. A rough measure of the degree of economic interdependence of a nation is given by:
a. the size of the nations' population
b. the percentage of its population to its GDP
c. the percentage of a nation's imports and exports to its GDP
d. all of the above
Ans: c
,Level: Easy
Heading: International Trade and a Nation’s Standard of Living
5. Economic interdependence is greater for:
a. small nations
b. large nations
c. developed nations
d. developing nations
Ans: a
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
6. The gravity model of international trade predicts that trade between two nations is
larger
a. the larger the two nations
b. the closer the nations
c. the more open are the two nations
d. all of the above
Ans: d
Level: Medium
Heading: The International Flow of Goods, Services, Labor and Capital
, 7. International economics deals with:
a. the flow of goods, services, and payments among nations
b. policies directed at regulating the flow of goods, services, and payments
c. the effects of policies on the welfare of the nation
d. all of the above
Ans: d
Level: Easy
Heading: International Economic Theories and Policies
8. International trade theory refers to:
a. the microeconomic aspects of international trade
b. the macroeconomic aspects of international trade
c. open economy macroeconomics or international finance
d. all of the above
Ans: a
Level: Easy
Heading: International Economic Theories and Policies
Multiple Choice
1. Which of the following products are not produced at all in the United States?
a. Coffee, tea, cocoa
b. steel, copper, aluminum
c. petroleum, coal, natural gas
d. typewriters, computers, airplanes
Ans: a
Level: Easy
Heading: The Globalization of the World Economy
2. International trade is most important to the standard of living of:
a. the United States
b. Switzerland
c. Germany
d. England
,Ans: b
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
3. Over time, the economic interdependence of nations has:
a. grown
b. diminished
c. remained unchanged
d. cannot say
Ans: a
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
4. A rough measure of the degree of economic interdependence of a nation is given by:
a. the size of the nations' population
b. the percentage of its population to its GDP
c. the percentage of a nation's imports and exports to its GDP
d. all of the above
Ans: c
,Level: Easy
Heading: International Trade and a Nation’s Standard of Living
5. Economic interdependence is greater for:
a. small nations
b. large nations
c. developed nations
d. developing nations
Ans: a
Level: Easy
Heading: International Trade and a Nation’s Standard of Living
6. The gravity model of international trade predicts that trade between two nations is
larger
a. the larger the two nations
b. the closer the nations
c. the more open are the two nations
d. all of the above
Ans: d
Level: Medium
Heading: The International Flow of Goods, Services, Labor and Capital
, 7. International economics deals with:
a. the flow of goods, services, and payments among nations
b. policies directed at regulating the flow of goods, services, and payments
c. the effects of policies on the welfare of the nation
d. all of the above
Ans: d
Level: Easy
Heading: International Economic Theories and Policies
8. International trade theory refers to:
a. the microeconomic aspects of international trade
b. the macroeconomic aspects of international trade
c. open economy macroeconomics or international finance
d. all of the above
Ans: a
Level: Easy
Heading: International Economic Theories and Policies
