What most accurately describes the US tariff policy between 1850 and 1910?
a. The US was strongly committed to free trade throughout the period.
b. The US became more protectionist during the Civil War and the level of tariffs remained high through 1910.
c. The US had very high tariff barriers at the beginning of this period, but lowered them consistently throughout this period.
b. The US became more protectionist during the Civil War and the level of tariffs remained high into the beginning of the 20th century.
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Which type of integration requires adapting domestic policies to coordinate with those of trading partners?
What will be an ideal response?
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and current international transactions becomes more negative (or less positive). b. The quantity of real loanable funds per time period rises, and current international transactions becomes more positive (or less negative). c. The quantity of real loanable funds per time period rises, and current international transactions remain the same. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The quantity of real loanable funds per time period and current international transactions remain the same.