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ECO 336 Exam 1 Questions with Detailed
Verified Answers
Countries such as the United States that have large populations tend to have
Ans: lower trade-to-GDP ratios.
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
Ans: 0.5
The trade-to-GDP ratio is calculated by
Ans: exports plus imports divided by GDP.
A relative measure of the importance of trade is
Ans: trade as a percentage of GDP.
An important factor that increased international capital flows in the latter part of the
1800s was
Ans: technological innovations
Labor mobility was
Ans: greater in 1900 than in 2010
A major impact of the transatlantic telegraph was
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Ans: a reduction in time required to complete a financial transaction between New
York and London
The trade-to-GDP ratio for the United States reached its lowest point of the last 100
years
Ans: around World War II
Countries that have high rates of savings also have
Ans: high rates of investment
Since the end of World War II
Ans: world trade has grown more rapidly than world output
One of the reasons we know that international labor mobility has been higher at
other times is because
Ans: the percent of our population that was foreign born was higher.
One important difference between the international economy of today and the
economy of 100 years ago is
Ans: the presence of international bodies such as the IMF and World Bank.
One of the distinguishing characteristics of capital mobility today is that
Ans: there are far more kinds of financial instruments than there were 100 years ago.
true/false: The last two decades are the first time in history that a nation has
borrowed more than 10 percent of its GDP
© Get it right 2025 Getaway - Stuvia US All rights reserved
ECO 336 Exam 1 Questions with Detailed
Verified Answers
Countries such as the United States that have large populations tend to have
Ans: lower trade-to-GDP ratios.
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
Ans: 0.5
The trade-to-GDP ratio is calculated by
Ans: exports plus imports divided by GDP.
A relative measure of the importance of trade is
Ans: trade as a percentage of GDP.
An important factor that increased international capital flows in the latter part of the
1800s was
Ans: technological innovations
Labor mobility was
Ans: greater in 1900 than in 2010
A major impact of the transatlantic telegraph was
© Get it right 2025 Getaway - Stuvia US All rights reserved
, Click here for more: Scholars nexus
Ans: a reduction in time required to complete a financial transaction between New
York and London
The trade-to-GDP ratio for the United States reached its lowest point of the last 100
years
Ans: around World War II
Countries that have high rates of savings also have
Ans: high rates of investment
Since the end of World War II
Ans: world trade has grown more rapidly than world output
One of the reasons we know that international labor mobility has been higher at
other times is because
Ans: the percent of our population that was foreign born was higher.
One important difference between the international economy of today and the
economy of 100 years ago is
Ans: the presence of international bodies such as the IMF and World Bank.
One of the distinguishing characteristics of capital mobility today is that
Ans: there are far more kinds of financial instruments than there were 100 years ago.
true/false: The last two decades are the first time in history that a nation has
borrowed more than 10 percent of its GDP
© Get it right 2025 Getaway - Stuvia US All rights reserved
