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International Trade Integration and Productivity Quizzes

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International Trade Integration and Productivity Quizzes

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Questions and Answers

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?

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?

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?

Famine and hunger in Europe Signup and view all the answers

What is an indicator 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

What happens when nations sign 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 led to 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 does the marginal product of capital diverging imply?

Increase in capital inefficiency Signup and view all the answers

Which factor is most likely to contribute to hyperinflation?

Expectations of lower growth Signup and view all the answers

What does a Most Favored Nation clause in a trade treaty require?

Extended lowest tariffs to all trade partners Signup and view all the answers