Indicators of Higher Integration in Economics

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According to Adam Smith, how does greater opportunities for trade promote productivity advance?

Lowering income inequality

Greater investment in pirating and privateering

By limiting the power of dictators

Specialization (correct)

Which factor was NOT crucial in explaining the migration patterns of free workers in Europe prior to 1914?

Information and personal connections

Population pressures in the sending country

Government restrictions that limited entry to specific nationalities (correct)

Credit constraints

Which of the following did the least to promote free and open immigration into the United States?

Famine and hunger in Europe

Falling shipping costs

Good information on job opportunities in the US from previous migrants

The Chinese Exclusion Act of 1882 (correct)

Which indicator suggests that capital markets were internationally integrated between 1850 and 1913?

Bond yield movements were highly correlated between various country pairs Signup and view all the answers

Which of the following would NOT be indicative of higher integration?

Real interest rates gaps between countries persisted Signup and view all the answers

What does the marginal product of capital refer to?

The increase in capital resulting from a one-unit increase in input Signup and view all the answers

What happened when nations signed a trade treaty with a Most Favored Nation clause?

Both nations now had to extend their lowest tariff on all goods with their treaty partner Signup and view all the answers

What was a principle cause of hyperinflation in places like Germany between the wars?

Reparations payments and government budget deficits Signup and view all the answers

Why was the gold standard weak in the period between the two world wars compared to before World War I?

The loss of British leadership at the international level Signup and view all the answers

What is an effect of nations not being able to commit to play by the rules of the game in the gold standard?

Nations could not borrow gold in times of crisis from other countries Signup and view all the answers

What did signing a trade treaty with a Most Favored Nation clause not lead to?

Increased capital flows between two nations Signup and view all the answers

Which of the following is not indicative of higher integration according to the text?

A rise in the number of skilled workers Signup and view all the answers

According to Adam Smith, how does greater opportunities for trade promote productivity advance?

Specialization Signup and view all the answers

Which factor was crucial in explaining the migration patterns of free workers in Europe prior to 1914?

Government restrictions limiting entry to specific nationalities Signup and view all the answers

Which of the following did the most to promote free and open immigration into the United States?

Good information on job opportunities in the US from previous migrants Signup and view all the answers

What indicates that capital markets were internationally integrated between 1850 and 1913?

Bond yield movements were highly correlated between various country pairs Signup and view all the answers

Which of the following was not a factor promoting free and open immigration into the United States?

Lower insurance costs Signup and view all the answers

What is the likely reason for hyperinflation in places like Germany between the wars?

Reparations payments and government budget deficits Signup and view all the answers

Why was the gold standard during the period between the two world wars weaker compared to before World War I?

The loss of British leadership at the international level Signup and view all the answers

What did signing a trade treaty with a Most Favored Nation clause NOT lead to?

High tariffs for the two countries involved Signup and view all the answers

What impact did signing a trade treaty with a Most Favored Nation clause have?

Extended lowest tariffs to the treaty partner Signup and view all the answers

What is the role of capital flows in the context of a Most Favored Nation trade treaty?

Liberalized capital flows Signup and view all the answers

What is a likely cause of hyperinflation in places like Germany between the wars?

High growth in GDP per capita and 'overheating' of the economy Signup and view all the answers

What was a significant reason for the weakness of the gold standard during the period between the two world wars compared to before World War I?

The loss of British leadership at the international level Signup and view all the answers

When nations signed a trade treaty with a Most Favored Nation clause, what did it entail for tariffs?

Both nations now had to extend their lowest tariff on all goods with their treaty partner Signup and view all the answers

What did the marginal product of capital diverge from?

Exchange rates Signup and view all the answers

Why was the gold standard weaker in the period between the two world wars regarding borrowing gold in times of crisis?

Nations could not commit to play by the rules of the game Signup and view all the answers

What did signing a trade treaty with a Most Favored Nation clause imply for tariffs?

Both nations extended their lowest tariff on all goods with their treaty partner. Signup and view all the answers

What is likely the main reason for hyperinflation in places like Germany between the wars?

Reparations payments and government budget deficits Signup and view all the answers

Why was the gold standard in the period between the two world wars considered weak compared to before World War I?

Nations could not commit to play by the rules of the game Signup and view all the answers

What did the marginal product of capital diverge from?

Nominal rigidities Signup and view all the answers

Why were capital flows liberalized when nations signed a trade treaty with a Most Favored Nation clause?

To promote economic cooperation and investment between nations Signup and view all the answers

Indicators of Higher Integration in Economics

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Questions and Answers

According to Adam Smith, how does greater opportunities for trade promote productivity advance?

Which factor was NOT crucial in explaining the migration patterns of free workers in Europe prior to 1914?

Which of the following did the least to promote free and open immigration into the United States?

Which indicator suggests that capital markets were internationally integrated between 1850 and 1913?

Which of the following would NOT be indicative of higher integration?

What does the marginal product of capital refer to?

What happened when nations signed a trade treaty with a Most Favored Nation clause?

What was a principle cause of hyperinflation in places like Germany between the wars?

Why was the gold standard weak in the period between the two world wars compared to before World War I?

What is an effect of nations not being able to commit to play by the rules of the game in the gold standard?

What did signing a trade treaty with a Most Favored Nation clause not lead to?

Which of the following is not indicative of higher integration according to the text?

According to Adam Smith, how does greater opportunities for trade promote productivity advance?

Which factor was crucial in explaining the migration patterns of free workers in Europe prior to 1914?

Which of the following did the most to promote free and open immigration into the United States?

What indicates that capital markets were internationally integrated between 1850 and 1913?

Which of the following was not a factor promoting free and open immigration into the United States?

What is the likely reason for hyperinflation in places like Germany between the wars?

Why was the gold standard during the period between the two world wars weaker compared to before World War I?

What did signing a trade treaty with a Most Favored Nation clause NOT lead to?

What impact did signing a trade treaty with a Most Favored Nation clause have?

What is the role of capital flows in the context of a Most Favored Nation trade treaty?

What is a likely cause of hyperinflation in places like Germany between the wars?

What was a significant reason for the weakness of the gold standard during the period between the two world wars compared to before World War I?

When nations signed a trade treaty with a Most Favored Nation clause, what did it entail for tariffs?

What did the marginal product of capital diverge from?

Why was the gold standard weaker in the period between the two world wars regarding borrowing gold in times of crisis?

What did signing a trade treaty with a Most Favored Nation clause imply for tariffs?

What is likely the main reason for hyperinflation in places like Germany between the wars?

Why was the gold standard in the period between the two world wars considered weak compared to before World War I?

What did the marginal product of capital diverge from?

Why were capital flows liberalized when nations signed a trade treaty with a Most Favored Nation clause?

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