Exam+Review+2 - Exam Review 2 True/False Indicate whether...

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Exam Review 2 True/False Indicate whether the sentence or statement is true or false. 1 Economic integration refers to the extent to which different countries’ real sectors, but not their financial sectors, are linked. A True B False 2 Exports minus imports divided by domestic output gives a common measure of a country’s global trade as a share of the total amount of economic activity. A True B False 3 Exports and imports comprise a greater percentage of domestic output in Canada than in the United States. A True B False 4 An increase in the price of a complementary good will normally decrease demand for the related good. A True B False 5 If the quantity of goods supplied changes at every given price level this is called a movement along the supply curve. A True B False 6 The most important factor influencing supply is the cost and the availability of inputs or resources. A True B False Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. 7 The key factor in determining globalization is the A interrelatedness of peoples, societies and economies. B level of exports. C ratio of exports to imports. D number of Internet connections in a country. E volume of trade in goods, services and capital. 8 According to Foreign Policy magazine, the most globalized country was A the United States. B Switzerland. C Hong Kong.
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D Singapore. E Ireland. 9 Ten years ago Country A had exports of $3 billion, imports of $7 billion and total domestic output of $20 billion. Today Country A has exports of $25 billion, imports of $25 billion and total domestic output of $275 billion. Which of the following statements is the most correct? A The importance of global trade appears to have increased for Country A. B Country A’s share of global trade has decreased from 50% to about 18%. C
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This note was uploaded on 10/20/2008 for the course ECON 2100 taught by Professor Smith during the Spring '08 term at Georgia State University, Atlanta.

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Exam+Review+2 - Exam Review 2 True/False Indicate whether...

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