midterm answers - Professor Priest INTB 3351 History of...

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P r o f e s s o r P r i e s t A INTB 3351: History of Globalization Mid-term Exam Monday 17527 Spring 2010 NAME ________KEY_________________PS#__________________________ This is a closed-book, closed-note exam. All books and notes must be stowed away and out of sight ! Read all instructions and questions carefully. Place answers to the matching on the exam itself. Fill in multiple choice answers on the Scantron form. Write your short answers in the space provided on the exam. You will have 75 minutes to complete the exam. Turn in the exam and your Scantron form together when you are finished. Make sure your name is on both !! Part I - Matching (1 point each - 10 points total; 10 minutes) Match numbered items in left column with BEST corresponding letter in right column. Place letter in left column blanks. 1. Drawbacks ___ D ___ a. German chemical producer 2. Opium War __ C ____ b. Wealth of Nations 3. Marcus Samuel ___ K ___ c. 1839-1842 4. Friedrich von Hayek __ L ____ d. Standard Oil competitive tactic 5. Portfolio investment ___ G ___ e. U.S. federal reserve chairman, 1930s 6. Depletion Allowance __ I ____ f. U.S. secretary of state, 1930s 7. Battle of Plassey ___ J ___ g. Ownership of stocks and bonds 8. I.G. Farben __ A ____ h. 1901 9. Cordell Hull __ F ____ i. Tax deduction for oil production and sale 10. Adam Smith ___ B ___ j. 1757 k. Shell Transport & Trading Company l . Road to Serfdom Part II - Multiple Choice (1.5 points each - 30 points total; 25 minutes) Fill in on Scantron form the letter corresponding to the BEST answer. 1. The Gold Standard system a. decreased the risks of international trade and investment. b. had negative consequences for nations which specialized in one or two primary commodity exports. c. Both A and B. d. Neither A nor B.
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2 2. The IMF was established in 1944 in order to a. aid industrial recovery in Japan. b. help American exporters find foreign markets. c. provide short-term loans to countries that experienced balance of payments difficulties. d. provide long-term loans to governments for reconstruction and infrastructural development. 3. Which pair were the rival economists whose battle of ideas -- prices vs. state planning in modern economic management – shaped the twentieth century world? a. Adam Smith and David Ricardo. b. Woodrow Wilson and Thomas Malthus. c. Ferdinand de Lesseps and Cyrus Field. d. John Maynard Keynes and Friedrich von Hayek. 4. Trade negotiations under GATT aimed to a. regulate international trade on the basis of rules designed mainly to benefit developed countries. b. lower trade barriers to textiles and agricultural products. c. open developed country markets to products from developing countries. d. erect tariffs on industrial goods.
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This note was uploaded on 08/10/2010 for the course INTB 3351 taught by Professor Priest during the Spring '08 term at University of Houston.

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midterm answers - Professor Priest INTB 3351 History of...

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