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Chapter_35 - YourResultsfor"SelfStudyQuiz SiteTitle...

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Your Results for: "Self-Study Quiz" Print this page Site Title: Principles of Economics, Eighth Edition Book Title: Principles of Economics, 8/e Book Author: Case/Fair Location on  Site: Chapter 35 > Self-Study Quiz Date/Time  Submitted: February 9, 2012 at 6:32 AM  (UTC/GMT) Summary of Results 30% Correct  of 40 Scored items: 12 Correct:  30% 28 Incorrect:  70% 5 questions not scored. 40 scored questions. More information about scoring 1. Interdependence among countries  brought about by globalization  occurs in which of the following  arenas? Your Answer: Expanded international financial fl Correct Answer: Correct. Economic globalization is economic interdependence among results in increased international t increased cross-border movemen international financial flows.   Correct. This answer is correct, however, other choices are also correct. 2. Which of the following is possible in  an open economy: Your Answer: A U.S. firm may finance a new fac Germany. Correct Answer: All of the above are possible.   Incorrect. This answer is correct, however, other choices are also correct.
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3. Efficiency in a world economy is  achieved only if: Your Answer: Restrictions are placed on the mo domestic workers from immigrant  Correct Answer: None of the above.   Incorrect. Efficiency in any economy, even the world economy, is achieved if capital and  labor can move freely to where their productivity is the highest, that is, if factors of  production are put to work in their highest and best uses. 4. During which of the following  periods was there a reduction in  trade as a percentage of world  GDP? Your Answer:   Correct. The trade barriers that were imposed after 1914, the world wars, and the Great  Depression all conspired to cut trade as a percentage of world GDP back to around 5  percent. 5. With respect to the international  mobility of labor, the United States  is: Your Answer: Substantially more globalized than twentieth century. Correct Answer: Less globalized than we were at th century.   Incorrect. At that time about 15 percent of the U.S. population was foreign born. The  Census Bureau placed that number at 10.4 percent in 2000 up from 7.9 percent in 1990.
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6. The deep recessions of Indonesia,  Korea, Thailand, and other East  Asian countries in the late 1990s  was the result of: Your Answer:   Correct. International capital flows were blamed for the dramatic events of 1997 in Asia.  Volatile exchange rates caused by a rapid withdrawal of loans and credit to Indonesia,  Korea, Thailand, and other East Asian countries led to dramatic swings in exchange rates  and deep recessions in those countries.
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