ECO 336 PRACTICE SOLUTION TESTED
QUESTIONS WITH CORRECT DETAILED
ANSWERS ALREADY GRADED A+
◉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 . Answer:
0.5
◉The trade-to-GDP ratio is calculated by . Answer: exports plus imports
divided by GDP.
◉A relative measure of the importance of trade is . Answer: trade as a
percentage of GDP.
◉An important factor that increased international capital flows in the
latter part of the 1800s was . Answer: technological innovations
◉Labor mobility 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
◉Since the end of World War II . Answer: 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 . Answer: 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 . Answer: the presence of
international bodies such as the IMF and World Bank.
◉One of the distinguishing characteristics of capital mobility today is
that . Answer: 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 . Answer: false
QUESTIONS WITH CORRECT DETAILED
ANSWERS ALREADY GRADED A+
◉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 . Answer:
0.5
◉The trade-to-GDP ratio is calculated by . Answer: exports plus imports
divided by GDP.
◉A relative measure of the importance of trade is . Answer: trade as a
percentage of GDP.
◉An important factor that increased international capital flows in the
latter part of the 1800s was . Answer: technological innovations
◉Labor mobility 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
◉Since the end of World War II . Answer: 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 . Answer: 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 . Answer: the presence of
international bodies such as the IMF and World Bank.
◉One of the distinguishing characteristics of capital mobility today is
that . Answer: 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 . Answer: false
