Sample_Qs_(Test2008)

Sample_Qs_(Test2008) - 1913. Indicate (with brief...

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ECN220 : Evolution of the Global Economy Examples of Questions from Previous Midterm Tests Short Questions 1 Several countries which depended on exporting manufactures experienced slow and unstable growth during the 1920s. Indicate (with brief explanations) two of the reasons for this. 2 Briefly describe two effects of protectionism on the international trading and financial system of the 1920s. 3 Briefly describe how the German hyperinflation of 1922/23 was brought to an end. 4 How did German nationalists justify their claim that the hyperinflation of the 1920s was a result of reparations payments? Is their argument plausible? 5 The gold standard of the 1920s could be described as a “gold-foreign exchange system”. What does this mean and how did it give rise to instability in the international financial system? 6 What advantages do quotas have over tariffs from the point of view of the country imposing them? 7 The pattern of trade between 1918 and 1939 differed from that which had existed in
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Unformatted text preview: 1913. Indicate (with brief descriptions) two ways in which this was so. 8 Indicate (with brief descriptions) two real factors which have been proposed as causes of the Depression which began in 1929 in the United States. Long Questions 1 World War I left a legacy of problems for the international economy during the 1920s. Describe and discuss two of these problems. Do you feel that they could have been more effectively dealt with than they were? If so, how? 2 After the First World War the United States replaced the United Kingdom as the principal international investor. Some economists maintain that as a result the international economy was less stable than before. Explain their argument. 3 Discuss the major attempts to attain financial stability through international and regional agreements in the 1930s. How successful were they?...
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