1 .		Economic globalization is the process of:     expanded international financial flows.   increasing economic interdependence among countries and their citizens.   increased cross border movements of labor.   all of the above.
2 .		Those that do not like globalization are opposed because:    openness leads to unfair labor standards.   United States citizens can buy foreign goods cheaper.   United States citizens are able to earn a better rate of return on a foreign bond.   United States citizens can earn a better living by seeking a foreign job.
3 .		According to economic historian Jeffrey Williamson, there were two great periods of globalization:     1820-1914 and the period prior to the revolutionary war.   post Civil-War and post-WWII.   1820-1914 and post-WWII.   pre-WWII and pre-WWI.
4 .		Trade barriers have been sharply reduced in the post-WWII period. The North American Free Trade Agreement and the General Agreement on Tariffs and Trade are two good examples.    True   False
5 .		If we buy goods from a country and they refuse to buy our goods, then:     demand for their currency will rise relative to ours.   it will now take more dollars to buy each unit of their currency.   their goods will become more expensive.   all of the above.
6 .		Free trade lowers the demand for labor in the export sector of the country. This should result in lowered incomes.     True   False
7 .		Empirical evidence of the impact of increased trade flows on income has shown:     open countries grew by 2% per year more rapidly than closed economies.   closed countries grew by 2% per year more rapidly than open economies.   the decline in poverty has been the least where growth has been greatest.   that where growth has been most sluggish, poverty has been the least.
8 .		The argument against free immigration says that it will     increase world output.   displace American workers from jobs.   raise wages.   all of the above
9 .		Protecting an industry to save domestic jobs promotes economic efficiency.     True   False
10 .		The adverse effect of a rapid free flows of capital are that:    capital markets undershoot.   capital markets overshoot.   stock markets crash due to the overinvestment.   b and c