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True or false?
"In France gainers of war were in agriculture and the losers in the industry."
False
In France there were gainers and losers in both the agriculture and the industry
True or false?
"The blockade during the Napoleonic Wars hit northern France harder, resulting in relative economic disadvantages in the long run."
False
The blockade during the Napoleonic Wars hit northern France harder, resulting in relative economic disadvantages in the short run
True or false?
"Because of cotton production, the U.S. South had an interest in protective trade policies."
False
The U.S. South had an interest in trade, while the U.S. North had an interest in protective trade policies
True or false?
"Many industries that did not face much competition due to the war lobbied for protection after the war"
True
True or false?
"Transport costs are truly exogenous to trade"
False
Transport costs are endogenous to trade
True or false?
"Empirical evidence suggests that reduced transport costs were not the main driving force for the increased trade volumes."
True
True or false?
"The introduction of the steamship caused an asymmetric change in trade distances among countries."
True
True or false?
"Determining transport costs' causal effect on trade volumes is challenging because of reverse causality."
True
True or false?
"The emigrants in the 19th century were diminishing in terms of human capital with progressing time."
True
True or false?
"The transport cost revolution made emigration more difficult."
False
The transport cost revolution made emigration easier/cheaper
True or false?
"Emigration was mainly driven by low wages at home in relative terms."
True
True or false?
"Initially, increasing home wages increased migration."
True
True or false?
"The labour market integration led to a divergence in living standards."
False
The labour market integration led to a convergence in living standards
True or false?
"Emigration reduced poverty in Ireland."
True
True or false?
"US immigrants rather entered skilled jobs and thus reduced skilled wage rates in the US."
False
US immigrants rather entered unskilled jobs and thus reduced unskilled wage rates in the US
True or false?
"Empirical evidence suggests that a brain drain occurred in Ireland in the first half of the 19th century."
False
There is no empirical evidence for a brain drain
True or false?
"Overseas demand had no impact on the direction of the capital flows."
True
True or false?
"When they took place, capital flows led to convergence."
False
True or false?
"According to Higgins (1993), different technologies across countries might explain the Lucas Paradox."
True
True or false?
"The factory production of cotton textiles is an example of the less efficient use of labour in poor economies."
True
True or false?
"According to the Stolper-Samuelson Theorem, trade increases the price of a country’s scarce and expensive factor and reduces the price of its abundant and cheap factor."
False
According to the Stolper-Samuelson Theorem, trade increases the price of a nation’s abundant and cheap factor, and reduces the price of its scarce and expensive factor
True or false?
"According to the model, workers benefit from (free) trade in a labour-abundant country."
True
True or false?
"According to the Heckscher-Ohlin model, a comparative advantage is independent of relative factor intensity."
False
According to the Heckscher-Ohlin model, a comparative advantage is influenced by the relative factor intensity (and relative factor abundance)
True or false?
"According to the Rybczynski Theorem, an increase of workers increases the supply of food for given commodity prices."
False
According to the Rybczynski Theorem, an increase of land increases the supply of food for given commodity prices
True or false? (Malthusian Model)
"Technological progress improves real wages in the short run."
True
True or false? (Malthusian Model)
"In the long-run the population expands faster than the food supply"
True
True or false? (Malthusian Model)
"Wages and population numbers are negatively correlated."
True
True or false?
"The breakdown of Bretton Woods reduced consumer demand."
False
True or false?
"Due to the monetary policy of France and the USA, other countries were forced to restrict their money supply."
True
True or false?
"Bank runs could have prevented the Great Depression."
False
True or false?
"The Wall Street Crash had severe impacts on the stock market but has hardly affected the labor market."
False
True or false?
"Empirical evidence concerning the “tariff elections” in Germany in 1878 showed that theoretical trade models cannot explain the observed voting behaviour at all."
False
True or false?
"In the New world, democratization was negatively related to a rise in protection."
False
In the New world, democratization was positively related to a rise in protection
True or false?
"In the so-called “tariff elections” in Germany in 1878, largely voters that were harmed by globalization voted for protection."
True
True or false?
"Empirical evidence shows that protectionism in principle leads to economic growth."
False
True or false?
"The Golden Age was a worldwide phenomenon."
False
True or false?
"The high growth rates are only driven by recovery from the war."
False
True or false?
"Initially richer countries grew slower than poor ones."
True
True or false?
"The observed "catch up" process describes countries returning to their original long-run growth path in the postwar years."
False