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Questions and Answers
Which factor is NOT indicative of higher integration, based on the text?
Which factor is NOT indicative of higher integration, based on the text?
- Lower tariffs
- Interest rates of a country converging to those of global capital markets
- Faster shipping times
- A rise in the number of skilled workers (correct)
- Lower insurance costs
According to Adam Smith, how does greater opportunities for trade promote productivity advance?
According to Adam Smith, how does greater opportunities for trade promote productivity advance?
- Specialization (correct)
- By limiting the power of dictators
- Lowering income inequality
- Because fixed exchange rates are not possible when trading
- Greater investment in pirating and privateering
Which was NOT a crucial factor in explaining migration patterns of free workers in Europe before 1914?
Which was NOT a crucial factor in explaining migration patterns of free workers in Europe before 1914?
- Credit constraints
- Information and personal connections
- Government restrictions limiting entry based on nationalities
- Wages in the receiving and sending countries
- Population pressures in the sending country (correct)
Which factor did the LEAST to promote free and open immigration into the United States?
Which factor did the LEAST to promote free and open immigration into the United States?
What happens when nations sign a trade treaty with a Most Favored Nation clause?
What happens when nations sign a trade treaty with a Most Favored Nation clause?
What is the principle cause of hyperinflation in places like Germany between the wars?
What is the 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?
Why was the gold standard weak in the period between the two world wars compared to before World War I?
What does the marginal product of capital diverging suggest?
What does the marginal product of capital diverging suggest?
What happens when nations sign a trade treaty with a Most Favored Nation clause regarding tariffs?
What happens when nations sign a trade treaty with a Most Favored Nation clause regarding tariffs?
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