One important difference between the international economy of today and the economy of 100 years ago is
A) that labor is much more mobile.
B) for the first time, technological innovations have reduced the barrier of distance.
C) for the first time, capital is mobile.
D) the presence of international bodies such as the IMF and World Bank.
Question 2 - One of the reasons we know that international labor mobility has been higher at other times is because
A) the percent of our population that was foreign born was higher.
B) wages were lower.
C) labor was important in agriculture.
D) the population was younger.
Question 3 - Since the end of World War II,
A) world trade has grown more slowly than world GDP in the same time period.
B) world trade has grown more slowly than during the years leading up to World War II.
C) the trade-to-GDP ratios of most countries have fallen.
D) world trade has grown more rapidly than world output.
Question 4 - Countries that have high rates of savings also have
A) high rates of investment.
B) low rates of investment.
C) stock market bubbles.
D) low rates of growth.
Question 5 - The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years
A) around 1970.
B) around World War II.
C) around World War I.
D) around 2008.
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