Exam 1: Introduction to the Global Economy

_____________ has grown at a faster rate than ______________,indicating an increase in economic interdependence among nations.

The study of the whole economy,such as the total receipts and payments of a nation and the general price index,is considered to be a:

Trade restrictions usually benefit a large majority of the ___________ in the nation at the expense of a silent majority of _________________.

Globalization is inevitable because consumers around the world are demanding different types of commodities.

Structural unemployment in Europe is most likely due to:

Even though trade is important for both large and small countries it is much more important for a smaller country than a larger one.Explain.

Which of the following is most restricted to flow across national boundaries?

International economic relationships are similar enough to interregional economic relations that the same tools of economic analysis can be used for both.

Globalization is the study of the aggregate economy.

Which of the following is not a sign of globalization?

A summary statement of all the international transactions of the residents of a nation with the rest of the world during a particular period of time is called:

Which of the following examines the reasons for and effects of trade restrictions?

The loose organization that blames globalization for many human and environmental problems throughout the world is:

With respect to international trade in the real world:

Rapid technological changes and increased competition from the manufactured exports of emerging market economies are causing _________________ in the United States.

The ratio between a country's imports and exports of goods or services to their gross domestic product (GDP)is a measure of that country's:

The economic interdependence among nations has ___________ in the recent past.

During the last decade,almost _______ of Europe's unemployed were jobless longer than one year.

The framework for the exchange of one national currency for another is:

Why is International Trade Theory and Policy considered as Microeconomic aspect of International Economics and International Finance is considered as the Macroeconomic aspect of International Finance?