The Crisis of Traditional Liberal Capitalism Quiz

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Questions and Answers

What were the consequences of World War I on the international economic system?

Reduced distortions in production and trade, decreased workers’ claims, improved international payments system, and reduced protectionism.
Increased government intervention, decreased protectionism, improved international payments system, and increased free movement of factors.
Enhanced international cooperation, reduced government intervention, improved functioning of the international payments system, and increased protectionism.
Distortions in production and trade, workers and soldiers’ claims, poor functioning of the international payments system, and protectionism. (correct)

What characterized the international economic system before World War I?

Political and economic predominance of Asia, poor functioning of the international payments system, restricted movement of factors, and extensive government intervention in the economic life.
Political and economic predominance of Europe, proper functioning of the international payments system, free movement of factors, and limited government intervention in the economic life. (correct)
Political and economic predominance of South America, poor functioning of the international payments system, free movement of factors, and limited government intervention in the economic life.
Political and economic predominance of North America, proper functioning of the international payments system, restricted movement of factors, and extensive government intervention in the economic life.

What were the economic consequences of World War II?

American financial intervention, European and Japanese economic recovery, and distortions in production and trade. (correct)
American financial intervention, European and Japanese economic recovery, and improved international payments system.
European and Japanese economic decline, increased protectionism, and poor functioning of the international payments system.
European and Japanese economic decline, increased government intervention, and improved international payments system.

What changes occurred in the international economic system after World War I?

Distortions in production and trade, workers and soldiers’ claims, poor functioning of the international payments system, and protectionism. (B) Signup and view all the answers

What characterized the international economic system before World War I?

Political and economic predominance of Europe, proper functioning of the international payments system, free movement of factors, and limited government intervention in the economic life. (C) Signup and view all the answers