Which of the Following Is NOT True of the U

question 23

Multiple Choice

Which of the following is NOT true of the U.S. economy before World War II?

• A)The U.S. economy was an open economy.
• B)Capital flows between the United States and other economies were restricted by regulation.
• C)The volume of international trade was small relative to the level of domestic economic activity.
• D)Cross-border communication costs were relatively high.

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Definitions:

Atlantic Trade Routes

The sea lanes and passages across the Atlantic Ocean used for the exchange of goods and slaves between the Americas, Europe, and Africa.

Plantation Economy

An economic system heavily based on agricultural production, often on a large scale, specializing in cash crops, and reliant on the labor of enslaved or indentured workers.

Colonization

The action or process of settling among and establishing control over the indigenous people of an area, often leading to the exploitation and cultural assimilation of those people.