An important factor that increased international capital flows in the latter part of the 1800s was
A) the creation of the International Monetary Fund.
B) the creation of numerous regional trade agreements.
C) the rapid rate of East Asian economic growth.
D) technological innovations.
E) the creation of the World Bank.
D
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In the above figure, Reggie's budget line rotates outward from BL1 to BL2. He initially consumes at point A. If his new consumption bundle is at point C, this implies that his demand curve for kiwi fruit
A) has shifted. B) is a vertical line. C) slopes downward. D) is a horizontal line.
Constant returns to scale refers to when:
A. an increase in the quantity of output decreases average total cost in the long run. B. an increase in the quantity of output increases average total cost in the long run. C. average total cost does not depend on the quantity of output in the long run. D. None of these is true.
Figure 17-13 In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?
a.
4,000
b.
6,000
c.
8,000
d.
10,000
e.
12,000
International trade
A. Reduces the level of income for export industries. B. Benefits the domestic industries that compete with the imported products. C. Redistributes income from import-competing industries to export industries. D. Causes prices of products to rise because of the transportation costs.