ECO 336 Midterm Exam 2025 Questions
and Answers
False - ....ANSWER ...-TRUE OR FALSE: Domestic agricultural subsidies
intended to support the nation's farmers would not be considered a trade barrier so
would not be disputed internationally
a reduction in the time required to complete a financial transaction between New York
and London. - ....ANSWER ...-A major impact of the transatlantic cable was
True - ....ANSWER ...-TRUE OR FALSE: More than 80% of the goods and
services we buy are produced in domestic markets.
International trade in raw commodities and agricultural products is more important than
it was in the past. - ....ANSWER ...-Your text mentions several ways that
international trade flows are qualitatively different than they were a century ago. Which
of the following is NOT one of those ways?
the problem of volatility in financial capital flows. - ....ANSWER ...-All of the
following are differences in capital flows today from the past, EXCEPT
False - ....ANSWER ...-TRUE OR FALSE: Capital and labor only very recently
have been free to move across international borders.
currency market transactions. - ....ANSWER ...-Financial capital flows could
include
…FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1
, False - ....ANSWER ...-TRUE OR FALSE: Open economies grow more slowly
than closed economies.
An agreement to use the same environmental standards in production -
....ANSWER ...-Which of the following kinds of agreements between two or more
countries would be an example of a deep integration measure?
True - ....ANSWER ...-TRUE OR FALSE: Most economists support open trade
because it increase our choices as consumers, lowers costs for producers, increases
competition and innovation, and leads to greater diffusion of technological change.
False - ....ANSWER ...-TRUE or FALSE: Capital flows between countries are
smaller than in past decades in absolute terms.
A.
provide consumers with lower prices.
B.
increase competition for workers and firms.
C.
provide consumers with greater variety. - ....ANSWER ...-Free trade in goods is
predicted to
technological innovations. - ....ANSWER ...-An important factor that increased
international capital flows in the second half of the nineteenth century was
Trade as a percentage of GDP - ....ANSWER ...-A relative measure of the
importance of trade is
…FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 2
and Answers
False - ....ANSWER ...-TRUE OR FALSE: Domestic agricultural subsidies
intended to support the nation's farmers would not be considered a trade barrier so
would not be disputed internationally
a reduction in the time required to complete a financial transaction between New York
and London. - ....ANSWER ...-A major impact of the transatlantic cable was
True - ....ANSWER ...-TRUE OR FALSE: More than 80% of the goods and
services we buy are produced in domestic markets.
International trade in raw commodities and agricultural products is more important than
it was in the past. - ....ANSWER ...-Your text mentions several ways that
international trade flows are qualitatively different than they were a century ago. Which
of the following is NOT one of those ways?
the problem of volatility in financial capital flows. - ....ANSWER ...-All of the
following are differences in capital flows today from the past, EXCEPT
False - ....ANSWER ...-TRUE OR FALSE: Capital and labor only very recently
have been free to move across international borders.
currency market transactions. - ....ANSWER ...-Financial capital flows could
include
…FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1
, False - ....ANSWER ...-TRUE OR FALSE: Open economies grow more slowly
than closed economies.
An agreement to use the same environmental standards in production -
....ANSWER ...-Which of the following kinds of agreements between two or more
countries would be an example of a deep integration measure?
True - ....ANSWER ...-TRUE OR FALSE: Most economists support open trade
because it increase our choices as consumers, lowers costs for producers, increases
competition and innovation, and leads to greater diffusion of technological change.
False - ....ANSWER ...-TRUE or FALSE: Capital flows between countries are
smaller than in past decades in absolute terms.
A.
provide consumers with lower prices.
B.
increase competition for workers and firms.
C.
provide consumers with greater variety. - ....ANSWER ...-Free trade in goods is
predicted to
technological innovations. - ....ANSWER ...-An important factor that increased
international capital flows in the second half of the nineteenth century was
Trade as a percentage of GDP - ....ANSWER ...-A relative measure of the
importance of trade is
…FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 2
