Podcast
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?
- Faster shipping times
- Lower tariffs
- Interest rates of a country converge to those of global capital markets
- A rise in the number of skilled workers (correct)
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?
- Because fixed exchange rates are not possible if you want to trade 2
- By limiting the power of dictators
- Greater investment in pirating and privateering
- Lowering income inequality (correct)
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?
- Wages in the receiving and sending countries (correct)
- Credit constraints
- Government restrictions that limited entry to specific nationalities
- Information and personal connections
Which did the least to promote free and open immigration into the United States?
Which did the least to promote free and open immigration into the United States?
What is an indicator that capital markets were internationally integrated between 1850 and 1913?
What is an indicator that capital markets were internationally integrated between 1850 and 1913?
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 led to hyperinflation in places like Germany between the wars?
What led to 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 imply?
What does the marginal product of capital diverging imply?
Which factor is most likely to contribute to hyperinflation?
Which factor is most likely to contribute to hyperinflation?
What does a Most Favored Nation clause in a trade treaty require?
What does a Most Favored Nation clause in a trade treaty require?
