What does the trade to gdp ratio measure (in words and math)? Does a low value indicate that a country is closed to trade with the outside world?
Also, lookup some data on countries’ trade-to-gdp ratios — what patterns do you notice? What seeming exceptions do you notice (anything surprising)? Be sure to accurately cite your source for the data you review.
What is an institution? Give examples of (and explain the differences between) formal and informal institutions. Compare (how are they similar) and contrast (how are they different) them to organizations?
What are the arguments in favor of international organizations (e.g. WTO, IMF, World Bank)? What are the arguments/complaints against them (explain the categories)? Which do you think are stronger?
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