International Economics, 9e (Krugman et al.)
Chapter 1 Introduction

1.1 What Is International Economics About?

1) Historians of economic thought often describe ________ written by ________ and published in ________ as the first real exposition of an economic model.
A) "Of the Balance of Trade," David Hume, 1776
B) "Wealth of Nations," David Hume, 1758
C) "Wealth of Nations," Adam Smith, 1758
D) "Wealth of Nations," Adam Smith, 1776
E) "Of the Balance of Trade," David Hume, 1758
Answer: E
Page Ref: 1
Difficulty: Easy
Question Status: New

2) From 1960 to 2009,
A) the U.S. economy roughly tripled in size.
B) U.S. imports roughly tripled in size.
C) the share of US Trade in the economy roughly tripled in size.
D) U.S. Imports roughly tripled as compared to U.S. exports.
E) U.S. exports roughly tripled in size.
Answer: C
Page Ref: 1
Difficulty: Easy
Question Status: New
AACSB Codes: Dynamics of the Global Economy

3) The United States is less dependent on trade than most other countries because
A) the United States is a relatively large country with diverse resources.
B) the United States is a "Superpower."
C) the military power of the United States makes it less dependent on anything.
D) the United States invests in many other countries.
E) many countries invest in the United States.
Answer: A
Page Ref: 2
Difficulty: Easy
Question Status: New
AACSB Codes: Dynamics of the Global Economy

4) Ancient theories of international economics from the 18th and 19th Centuries are
A) not relevant to current policy analysis.
B) are only of moderate relevance in today's modern international economy.
C) are highly relevant in today's modern international economy.
D) are the only theories that actually relevant to modern international economy.
E) are not well understood by modern mathematically oriented theorists.
Answer: