ECO 336 EXAM 1 QUESTIONS AND CORRECT ANSWERS
Economies with large populations such as the United States will have -
ANSWER lower trade-to-GDP ratios.
For an economy that had $600 million in exports, $400 million in imports, and a
GDP of $2,000 million, the trade-to-GDP ratio would be - ANSWER 0.5
The trade-to-GDP ratio is calculated by - ANSWER exports plus imports
divided by GDP.
Relative measure of trade significance is -
ANSWER percentage of GDP trade.
One quite important factor which led to the increase in international capital
flows during the latter half of the 1800s was -
ANSWER technological progress
The immobility of labor was -
ANSWER greater in 1900 than in 2010
A major impact of the transatlantic telegraph was - ANSWER 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 - ANSWER around World War II
Countries that have high rates of savings also have - ANSWER high rates of
investment
Economies with large populations such as the United States will have -
ANSWER lower trade-to-GDP ratios.
For an economy that had $600 million in exports, $400 million in imports, and a
GDP of $2,000 million, the trade-to-GDP ratio would be - ANSWER 0.5
The trade-to-GDP ratio is calculated by - ANSWER exports plus imports
divided by GDP.
Relative measure of trade significance is -
ANSWER percentage of GDP trade.
One quite important factor which led to the increase in international capital
flows during the latter half of the 1800s was -
ANSWER technological progress
The immobility of labor was -
ANSWER greater in 1900 than in 2010
A major impact of the transatlantic telegraph was - ANSWER 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 - ANSWER around World War II
Countries that have high rates of savings also have - ANSWER high rates of
investment
