Summary

This document includes a quiz with multiple-choice questions related to economic history. The questions cover various topics including the restoration of Europe's stability after World War I, factors contributing to economic decline in specific countries, and the implications of economic policies on different regions. It focuses on economic concepts and events, rather than specific theories.

Full Transcript

Quiz 1. What was mistakenly believed to be instrumental in restoring Europe\'s stability after WWI? Introduction of new currencies, nationalising large businesses, Taking stability loans from the US, Restoration of the gold standard ( correct). 2. Which part of Europe took the longest to re...

Quiz 1. What was mistakenly believed to be instrumental in restoring Europe\'s stability after WWI? Introduction of new currencies, nationalising large businesses, Taking stability loans from the US, Restoration of the gold standard ( correct). 2. Which part of Europe took the longest to recover to 1913 levels of GDP per capita? The USSR and the Baltics (correct), Germany and Austria, Northern France and Belglum, Recovery was similarly quick everywhere 3. Could Germany have managed to meet the WWI reparations bill? Absolutely not- reparations were too large, Possibly, but there was no political will (correct) , Yes, If France was more helpful, Since GDP data is missing, we don\'t know. 4. What proved to be a major threat to the post-WWI economic stability? Spread of mortgage- backed securities, massive war debts(correct), A crisis in military industries, Discoveries of new gold deposits. 5. To finance the First World War, most countries? Abandoned gold standard & printed money(correct), Resorted to fiscal austerity, Allowed relatively free trade, Privatised public enterprises. 6. Which of these was NOT one of the reasons for the decline of Britain in the late 19th century? Lack of tech- oriented education, \"Old pioneer\'s disease, Granting independence for colonies (correct), In)estment into traditional sectors. 7. What was the impact of 1870-1913 free trade system on Europe\'s peripheries? Many integrated and started catching up(correct), 2nd industrial revolution was successful everywhere, Slow catch up progress motivated extremism & renewed protectionism(correct), All peripheral countries fell further behind the West. 8. What is the essence of \"multilateral\" trade? Makes trading with multiple countries efficient(correct), Allows to accumulate gold domestically, Helps creating trade blocs, Allows trading with foreign colonies. 9. Because of the 1st Industrial revolution, in 1870 Britain\... Was the colonial hegemon, Had the highest living standards on earth(correct), Began creating a block of allies for WWI, Suffered an \"old pioneer\'s disease\". (correct) 10. Classical economic thought says: State should not intervene in the economy(correct), Self interest destroys the economy, Active monetary policy promotes growth, Countries should protect vital trade interests. 11. When did Britain turn to free trade? When Napoleonic France was defeated, When pound became the universal currency, When It acquired a colonial empire, When it started lacking raw materials and food (correct). 12. Late 19th century among economists is often called.. The 1^st^ Industrial revolution, The 1^st^ Globalisation(correct), The Age of Discovery, The Dark Ages 13. What other data can we use to estimate living standards of historical periods? Calorie Intake, Real wages, Height dynamics, All of the above (correct), None of the above. 14. Purchasing power parity (PPP)-adjusted GDP is used for\... Constructing ratios to GDP, Comparing sectors, Comparing countries (correct), Converting Soviet National income to GDP. 15. Most rich economies.. Have plentiful natural resources, Use resources efficiently (correct), Have low income inequality, Have always been richer than others. 16. If nominal GDP grows real GDP stagnates, it means\... There is deflation, There is inflation(correct), GDP is bad for this country, Exports to GDP is growing 17. To assess the importance of transport sector in our economy, we look at\... GDP from production/value-added side(correct), GDP from expenditure/ consumption side, Happiness index, GDP from income side 18. If a less productive region becomes part of the country, what happens? GDP per capita increases, GDP increases (correct), GDP per capita drops (correct), GDP drops

Use Quizgecko on...
Browser
Browser