Question 1

China is the world's largest economy based on total output.

Accepted Answer

A) True 
 B)False

Question 2

International economics is a blend of macroeconomics and regional economics.

Accepted Answer

A) True 
 B)False

Question 3

In the 1990s, the economic output of the world has been growing at about a 10% annual rate.

Accepted Answer

A) True 
 B)False

Question 4

The ratio of imports and exports to GDP in the U.S. has been rising since World War II.

Accepted Answer

A) True 
 B)False

Question 5

International trade in services is easier to measure than international trade in goods.

Accepted Answer

A) True 
 B)False

Question 6

Economics can be divided into microeconomics and international economics.

Accepted Answer

A) True 
 B)False

Question 7

The population in which country group is growing the slowest?

Accepted Answer

A)  Low-income 
B)  High-income 
C)  Middle-income 
D)  Asia 
E)  None of the above 
A)  Low-income 
B)  High-income 
C)  Middle-income 
D)  Asia 
E)  None of the above

Question 8

Briefly describe what the term globalization means and what is the best way to analyze this term?

Accepted Answer

Globalization refers to the process of i

Question 9

The GDP of the U.S. is approximately:

Accepted Answer

A)  $12.4 trillion. 
B)  $14.6 trillion. 
C)  $17 trillion. 
D)  $20.5 trillion. 
E)  $32 trillion. 
A)  $12.4 trillion. 
B)  $14.6 trillion. 
C)  $17 trillion. 
D)  $20.5 trillion. 
E)  $32 trillion.

Question 10

Total world imports and exports of merchandise are each a little over:

Accepted Answer

A)  $556 billion. 
B)  $1 trillion. 
C)  $10 trillion. 
D)  $19 trillion. 
E)  $22 trillion. 
A)  $556 billion. 
B)  $1 trillion. 
C)  $10 trillion. 
D)  $19 trillion. 
E)  $22 trillion.

Question 11

Flows of FDI are substantially larger than international trade in merchandise.

Accepted Answer

A) True 
 B)False

Question 12

The discipline of economics can be divided into:

Accepted Answer

A)  microeconomics and macroeconomics. 
B)  stocks and flows. 
C)  merchandise and services. 
D)  unlimited wants and limited resources. 
E)  exports and imports. 
A)  microeconomics and macroeconomics. 
B)  stocks and flows. 
C)  merchandise and services. 
D)  unlimited wants and limited resources. 
E)  exports and imports.

Question 13

Gross State Product refers to the economic output of a state in the U.S.

Accepted Answer

A) True 
 B)False

Question 14

Imports are that part of domestic production sold to foreign countries.

Accepted Answer

A) True 
 B)False

China is the world's largest economy based on total output.

International economics is a blend of macroeconomics and regional economics.

In the 1990s, the economic output of the world has been growing at about a 10% annual rate.

The ratio of imports and exports to GDP in the U.S. has been rising since World War II.

International trade in services is easier to measure than international trade in goods.

Economics can be divided into microeconomics and international economics.

The population in which country group is growing the slowest?

Briefly describe what the term globalization means and what is the best way to analyze this term?

The GDP of the U.S. is approximately:

Total world imports and exports of merchandise are each a little over:

Flows of FDI are substantially larger than international trade in merchandise.

The discipline of economics can be divided into:

Gross State Product refers to the economic output of a state in the U.S.

Imports are that part of domestic production sold to foreign countries.

Why Countries Trade

Comparative Advantage and the Production Possibilities Frontier

Factor Endowments and the Commodity Composition of Trade

Intra-Industry Trade

The Firm in the World Economy

International Factor Movements

Tariffs

Nontariff Distortions to Trade

International Trade Policy

Regional Economic Arrangements

International Trade and Economic Growth

National Income Accounting and the Balance of Payments

Exchange Rates and Their Determination: A Basic Model

Money, Interest Rates, and the Exchange Rate

Open Economy Macroeconomics

Macroeconomic Policy and Floating Exchange Rates

Fixed Exchange Rates and Currency Unions

International Monetary Arrangements

Capital Flows and the Developing Countries

Filters

Exam 1: Introduction: An Overview of the World Economy

China is the world's largest economy based on total output.

International economics is a blend of macroeconomics and regional economics.

In the 1990s, the economic output of the world has been growing at about a 10% annual rate.

The ratio of imports and exports to GDP in the U.S. has been rising since World War II.

International trade in services is easier to measure than international trade in goods.

Economics can be divided into microeconomics and international economics.

The population in which country group is growing the slowest?

Briefly describe what the term globalization means and what is the best way to analyze this term?

The GDP of the U.S. is approximately:

Total world imports and exports of merchandise are each a little over:

Flows of FDI are substantially larger than international trade in merchandise.

The discipline of economics can be divided into:

Gross State Product refers to the economic output of a state in the U.S.

Imports are that part of domestic production sold to foreign countries.

Why Countries Trade

Comparative Advantage and the Production Possibilities Frontier

Factor Endowments and the Commodity Composition of Trade

Intra-Industry Trade

The Firm in the World Economy

International Factor Movements

Tariffs

Nontariff Distortions to Trade

International Trade Policy

Regional Economic Arrangements

International Trade and Economic Growth

National Income Accounting and the Balance of Payments

Exchange Rates and Their Determination: A Basic Model

Money, Interest Rates, and the Exchange Rate

Open Economy Macroeconomics

Macroeconomic Policy and Floating Exchange Rates

Fixed Exchange Rates and Currency Unions

International Monetary Arrangements

Capital Flows and the Developing Countries

Filters