国际经济学作业答案-第七章

国际经济学作业答案-第七章
国际经济学作业答案-第七章

C h a p t e r7I n t e r n a t i o n a l F a c t o r M o v e m e n t s

?Multiple Choice Questions

1. Which of the following differs in its essential analytical framework

(a) International trade in goods

(b) International conflict resolution

(c) International trade in services

(d) International trade in factors of production

(e) International borrowing and lending

Answer: B

2. The slope of the production function measures

(a) the physical increase in output as country grows.

(b) the dollar-value increase in output as a country grows.

(c) the increase in number of workers as immigration proceeds.

(d) the marginal product of labor.

(e) the marginal product of capital.

Answer: D

3. International free labor mobility will under all circumstances

(a) increase total world output.

(b) improve the economic welfare of everyone.

(c) improve the economic welfare of workers everywhere.

(d) improve the economic welfare of landlords (or capital owners) everywhere.

(e) None of the above.

Answer: E

4. If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then

(a) workers in the labor abundant country would migrate to the capital abundant country.

(b) workers in the labor abundant country would wish to migrate to the capital abundant country.

(c) workers in the labor abundant country would have no desire to migrate to the capital

abundant country.

(d) workers in the capital abundant country would wish to migrate to the labor abundant country.

(e) workers in the capital abundant country would migrate to the labor abundant country.

Answer: C

5. During the mass migration period of late 19th-early 20th centuries,

(a) wages rose in the origin countries and fell in the destination countries.

(b) wages fell in the origin countries and rose in the destination countries.

(c) wages generally rose faster in the origin countries.

(d) wages generally rose faster in the destination countries.

(e) wages generally fell faster in the origin countries.

Answer: C

6. International borrowing and lending may be interpreted as one form of

(a) intermediate trade.

(b) inter-temporal trade.

(c) trade in services.

(d) unrequited international transfers.

(e) None of the above.

Answer: B

7. The relative price of future consumption is

(a) the interest rate.

(b) unknown at any given time.

(c) the real interest rate.

(d) the relative interest rate.

(e) None of the above.

Answer: C

8. A country that has a comparative advantage in future production of consumption goods

(a) will tend to be an international borrower.

(b) will tend to have low real interest rates.

(c) will tend to be an international investor or lender.

(d) will tend to have good work ethics.

(e) None of the above.

Answer: A

9. A U.S. multinational corporation

(a) has a controlling share in a foreign subsidiary and is not itself foreign controlled.

(b) is foreign controlled and has no controlling share in a foreign company.

(c) has a controlling share in a foreign subsidiary and may itself be foreign controlled by a

foreign company.

(d) is a U.S. company whose major markets are outside the United States.

(e) None of the above.

Answer: C

10. Why a good is produced in two different countries is known as the question of

(a) internalization.

(b) vertical integration.

(c) exploitation.

(d) location.

(e) None of the above.

Answer: D

11. Internalization deals with the question

(a) why workers prefer to work indoors

(b) internationalization

(c) why components are produced by one firm rather than by many.

(d) Why a good is produced in two different countries

(e) None of the above

Answer: C

12. The home locatio n of most of the world’s large multinational companies is

(a) North America and Europe.

(b) North America and Asia.

(c) Europe and South America.

(d) Europe and Asia.

(e) None of the above.

Answer: A

13. Which of the following best refers to the outright construction or purchase abroad of productive

facilities by domestic residents

(a) Foreign direct investment

(b) Portfolio Investment

(c) Short-term capital investment.

(d) Long-term capital investment

(e) None of the above.

Answer: A

14. Most direct investment in the United States has come from

(a) Japan.

(b) Canada.

(c) Western Europe.

(d) South America.

(e) Asia.

Answer: C

15. Most U.S. direct foreign investment occurs in

(a) communications.

(b) agriculture.

(c) petroleum.

(d) manufacturing.

(e) None of the above.

Answer: D

16. Most foreign direct investment in the United States occurs in

(a) communications.

(b) agriculture.

(c) petroleum.

(d) manufacturing.

(e) None of the above.

Answer: D

17. Multinational corporations may provide benefits to their home countries for the following reasons

except which one

(a) Secure raw materials for the source country

(b) Allow for exports of products, which involve company-specific trade secrets

(c) Allow domestic firms to secure timely deliveries of commodities or products, which do not

enjoy a stable or deep market internationally

(d) Shift home country technology overseas via licensing

(e) None of the above.

Answer: D

18. Trade analysis involving multinational corporations differs from our conventional trade analysis

because multinational corporation analysis involves

(a) absolute cost differentials rather than comparative cost differentials.

(b) the international movement of factor inputs as well as that of finished goods.

(c) purely competitive markets rather than imperfectly competitive markets.

(d) portfolio investments rather than direct foreign investment.

(e) None of the above.

Answer: B

19. Direct foreign investment may take any of the following forms except

(a) investors buying bonds of an existing firm overseas.

(b) the creation of a wholly owned business overseas.

(c) the takeover of an existing company overseas.

(d) the construction of a manufacturing plant overseas.

(e) None of the above.

Answer: A

20. Which of the following could logically explain why foreign direct investment might be attracted

to the United States

(a) U.S. wage rates exceeding the productivity of U.S. labor

(b) U.S. price ceilings that hold down the price of energy

(c) Especially high price/earning ratios associated with the stock of U.S. firms

(d) Anticipations of future reductions in U.S. non-tariff barriers

(e) None of the above.

Answer: B

21. Multinational corporations

(a) increase the transfer of technology between nations.

(b) make it harder for nations to foster activities of comparative advantage.

(c) always enjoy political harmony in host countries in which their subsidiaries operate.

(d) require governmental subsidies in order to conduct worldwide operations.

(e) None of the above.

Answer: A

22. American labor unions have recently maintained that U.S. multinational corporations have been

(a) exporting American jobs by investing overseas.

(b) exporting American jobs by keeping investment in the United States.

(c) importing cheap foreign labor by shifting U.S. investment overseas.

(d) importing cheap foreign workers by keeping U.S. investment at home.

(e) None of the above.

Answer: A

23. Multinational corporations

(a) always produce primary goods.

(b) always produce manufactured goods.

(c) always produce services.

(d) may produce primary or manufactured goods.

(e) None of the above.

Answer: D

24. ___________ refers to highly educated and skilled people who migrate from poor developing

countries to wealthy industrial countries.

(a) Direct investment

(b) Portfolio investment

(c) Transfer pricing

(d) Brain drain

(e) None of the above.

Answer: D

25. International labor mobility

(a) leads to wage convergence by raising wages in destination country and lowering in source

country.

(b) is in accordance with the specific factors model

(c) is in accordance with the Heckscher-Ohlin factor proportions model.

(d) leads to wage convergence by raising wages in source and lowering them in destination

country.

(e) is in accordance with scale economy model.

Answer: D

26. In theory, labor mobility is

(a) a complete complement to trade flows.

(b) a partial complement to trade flows.

(c) a complete substitute for trade flows.

(d) a partial substitute for trade flows.

(e) None of the above.

Answer: C

27. In practice, international labor mobility is

(a) a complete complement to trade flows.

(b) a partial complement to trade flows.

(c) a complete substitute for trade flows.

(d) a partial substitute for trade flows.

(e) None of the above.

Answer: D

28. If one observes that Japan was traditionally a net foreign lender, one could conclude that relative

to its international trade and financial partners

(a) Japan’s inter-temporal production possibilities are biased toward future consumption.

(b) Japan’s inter-temporal production possibilities are larger than that of the other countries.

(c) Japan’s inter-temporal production possibilities are biased toward present consumption.

(d) Japan’s inter-temporal production possibilities are not biased.

(e) None of the above.

Answer: C

29. Rapidly growing developing countries tend to be borrowers on the international capital markets.

From this information we may surmise that they have a comparative advantage in

(a) capital goods.

(b) future income.

(c) disposable income.

(d) consumer goods.

(e) present income.

Answer: B

30. It may be argued that theoretically, international capital movements

(a) tend to hurt the donor countries.

(b) tend to hurt the recipient countries.

(c) tend to hurt labor in donor countries.

(d) tend to hurt labor in recipient countries.

(e) None of the above.

Answer: C

31. Transactions between branches of the same multinational corporations account for ________ of

U.S. imports.

(a) one quarter

(b) one third

(c) one half

(d) three quarters

(e) all

Answer: C

32. The shift of labor-intensive assembly operations from the United States to Mexican maqiladora

may be best explained in terms of a theory of

(a) location.

(b) vertical integration.

(c) horizontal integration.

(d) internalization.

(e) None of the above.

Answer: A

33. When comparing the United States to the United Kingdom, between 1985 and 1990, the relative

growth of foreign-owned firms in manufacturing

(a) grew faster in the U.K., whose proportion of foreign-owned firms is larger.

(b) grew faster in the U.S., whose proportion of foreign-owned firms is larger.

(c) grew faster in the U.S., whose proportion of foreign-owned firms is smaller.

(d) grew faster in the U.K., whose proportion of foreign-owned firms is smaller.

(e) None of the above.

Answer: C

34. The inflow of foreign direct investment into the United States has always been perceived

(a) with trepidation.

(b) with resentment.

(c) with equanimity.

(d) with satisfaction.

(e) None of the above.

Answer: E

35. The purchase by Germany’s Daimler-Benz of America’s Chrysler corporation is genera lly

viewed as

(a) direct foreign investment typical of trends in the 1980s.

(b) a capital outflow from the United States, since Daimler-Benz “milked” the assets of Chrysler.

(c) a major success story of globalization.

(d) an example of international vertical integration.

(e) None of the above.

Answer: E

36. In a typical short-run production function, as labor increases

(a) the marginal product of capital decreases.

(b) the overall product of labor decreases.

(c) the average product of labor decreases.

(d) the marginal product of labor decreases.

(e) None of the above.

Answer: D

37. American labor unions accuse U.S. multinational corporations of all except which

(a) They enjoy unfair advantages in taxation.

(b) They export jobs by shifting technology overseas.

(c) They export jobs by shifting investment overseas.

(d) They operate at output levels where scale economies occur.

(e) None of the above.

Answer: D

?Essay Questions

1. The Heckscher-Ohlin model is famous for being elegant and mathematically sophisticated, yet

failing to describe reality. One manifestation of this fact is Trefler’s Case of Missing Trade.

Explain what exactly is missing. In what sense is it missing How would you explain why it is

missing How can a relaxation of the identical production functions explain the case of the missing trade

Answer: Trefler demonstrated that the actual volume of world trade is significantly less than that which would be predicted by the Heckscher-Ohlin model. One explanation is that North-South trade is especially less than would be predicted by a factor proportions model. If technologies differ in the poorer countries, then it is possible that the cost of producing

a product, which uses relatively much of their abundant factor may still be higher than

the cost of producing it in the other country.

2.Factor-intensity reversals describe a situation in which the production of a product may be land-

intensive in one country, and relatively labor intensive in another (at given relative wage levels).

For example, cotton may be land intensive in the U.S., and labor intensive in Egypt where land is relatively scarce and expensive. Suppose factor-intensity reversals were common. How would that affect the conclusion that a country in which land is relatively scarce will not be the country with

a comparative advantage in the land-intensive product

Answer: The answer here is straightforward (though it has various interesting implications). In this case we cannot define or identify a product in terms of its relative factor intensity

(at all or any relative wage level). Therefore, the Heckscher-Ohlin Theorem is ipso-

facto inapplicable.

3. Why is it that North-South trade in manufactures seems to be consistent with the results or

expectations generated by the factor-proportions theory of international trade, whereas North-

North trade is not

Answer: There is a clear difference in relative factor availabilities between North and South countries, no matter how we define and measure the factors of production. Hence, the

factor-proportions theory of trade may be sensibly expected to explain the pattern

(though not the volume) of trade between these two groups of countries. However, the

North North trade partners do not vary significantly in their relative factor availabilities,

so that other forces, such as scale economies play a relatively large role in determining

trade patterns.

4. One of the commonly used assumptions in deriving the Heckscher-Ohlin model is that tastes are

homothetic, or that if the per capita incomes were the same in two countries, the proportions of their expenditures allocated to each product would be the same as it is in the other country.

Imagine that this assumption is false, and that in fact, the tastes in each country are strongly

biased in favor of the product in which it has a comparative advantage. How would this affect the relationship between relative factor abundance between the two countries, and the nature (factor-intensity) of the product each exports What if the taste bias favored the imported good

Answer: If in fact national tastes were strongly biased in favor of the product in which the country enjoyed a comparative advantage, then we would expect a bias in favor of

rejecting the Heckscher-Ohlin Theorem in actual trade data. The engine driving the H-

O model is that a country should be expected to have a relatively low cost of producing

the good in which it has a comparative advantage. However, the respective demand

forces would tend to raise the price of this good, so that the expected pattern would not

generally be observed. However, if the tastes were biased in favor of the imported good,

then the predictions of the Heckscher-Ohlin Theorem would be expected to be

generally observed.

5. Why do you suppose that South-South trade does not conform in volume, but does conform in

pattern with expectations generated by the Heckscher-Ohlin model

Answer: The pattern of trade is generally observed to conform to the Heckscher-Ohlin models expectations. That is, the developing countries tend to export labor-intensive goods,

such as textiles, and import capital-intensive goods such as machinery. The volume

however is quite lower than what would be expected from the Neoclassical model.

There are many possible reasons, such as financial crises necessitating premia in the

financing of this trade.

6. It has been argued that even if intra-European Union labor mobility were to be completely

removed, one should not expect to observe massive, or even large reallocations of populations

with the E.U. Discuss

Answer: Theoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) is associated with factor price equalization; so does

completely free labor mobility. It therefore follows that if intra E.U. trade flourishes, as

any restraints on trade there are abolished, the economic incentive for labor mobility

will be removed. Since language and cultural differences remain, we would expect

populations to tend to stay where they are.

?Quantitative/Graphing Problems

1. In Home and Foreign there are two factors of production, land and labor, used to produce only

one good. The land supply in each country and the technology of production are exactly the same.

The marginal product of labor in each country depends on employment as follows:

Number of Workers Employed Marginal Product of Last Worker

1 30

2 29

3 28

4 27

5 26

6 25

7 24

8 23

9 22

10 21

11 20

Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic

migration ceases, what will be the levels of production, real wages and the income of landowners in each country

Answer: The total production in the world will increase, since the addition to production (the marginal product of labor) in the target country is larger for each worker than the loss

of production (also the marginal product of workers) in the emigration country. The

real wages will rise in the emigration country and fall in the immigration country.

Landlord incomes will rise in the immigration country and fall in the emigration

country.

2. Suppose Australia, a land (K)-abundant country and Sri-Lanka, a labor(L)-abundant country both

produce labor and land intensive goods with the same technology. Following the logic of the

Heckscher-Ohlin model from Chapter 4, what will be the incentive for migration once trade is established between these two countries Now, suppose that a tariff by one country creates an

incentive for labor migration. From which country to which country will be the migration Explain how you arrived at your answer.

Answer: Once trade is established, there is no longer any incentive for (economic-based) immigration, since the real wages will be equalized in both. If a tariff is established in

Australia, then the price of the labor intensive good will be higher in Australia, as will

be the marginal product of labor and hence the real wage of workers there. Hence,

workers will immigrate from Sri-Lanka to Australia until the two domestic prices are

equalized.

3. Use the diagram below derived from Figure 4-4 to identify the pre-trade situation for Australia

and Sri-Lanka, as discussed in question 2 above. Where on the K/L axis will you find each of the two countries Which of the two countries has a higher relative wage, w/r Which product is the labor intensive, and which is the land intensive one Show where the relative price of cloth to food will be found once trade opens between these two countries. Show where the relative wages of each will appear.

Answer: You will find Sri-Lanka to the left of Australia on the K/L axis.

Australia has a higher relative wage.

Food is the land intensive product.

The relative price P C/P F is found between the two autarkic prices.

The post trade relative wage is between the two autarkic ones on the vertical axis.

4. Using the figure above from question 3, demonstrate what happens to the composition of

production (that is quantity of cloth per 1 unit of food) in Australia once trade is established

between the two countries. Which country will export cloth What happens to the relative income of workers in Australia as a result of trade Does it increase or decrease Would land owners in Australia lobby for or against free trade Would land owners in Australia lobby for or against free admittance of immigrant workers

Answer: The proportion of food to cloth will increase in the production of Australia Sri Lanka will export cloth. The relative (and real) incomes of workers will fall in Australia as a

result of trade. Land Owners in Australia should lobby in favor of trade. They would

also lobby for free labor mobility (of workers into Australia), since the marginal

product of labor is high, the owners of land have much (Ricardian) rents to gain from

an inflow of workers.

5. Imagine that the relative capital abundance of Australia was so much greater than that of Sri-

Lanka, that we would have to locate Australia far to the right on the K/L axis. If this were so far to the right that there was no area of overlap on the w/r axis, then what product would Australia export Is this answer different from that in question 4 above Will the relative wages as calculated now be the same or different from those calculated in question 4

Answer: Australia would still export food, which is the same as in question 4. As a result of trade, wages will fall in Australia and will rise in Sri-Lanka. However, in this case, the

wages in Australia will remain higher than in Sri-Lanka, creating an incentive for

migration from the latter to the former country.

国际经济学作业复习资料第七章

Chapter 7 International Factor Movements Multiple Choice Questions 1. Which of the following differs in its essential analytical framework? (a) International trade in goods (b) International conflict resolution (c) International trade in services (d) International trade in factors of production (e) International borrowing and lending Answer: B 2. The slope of the production function measures (a) the physical increase in output as country grows. (b) the dollar-value increase in output as a country grows. (c) the increase in number of workers as immigration proceeds. (d) the marginal product of labor. (e) the marginal product of capital. Answer: D 3. International free labor mobility will under all circumstances (a) increase total world output. (b) improve the economic welfare of everyone. (c) improve the economic welfare of workers everywhere. (d) improve the economic welfare of landlords (or capital owners) everywhere. (e) None of the above. Answer: E 4. If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then (a) workers in the labor abundant country would migrate to the capital abundant country. (b) workers in the labor abundant country would wish to migrate to the capital abundant country. (c) workers in the labor abundant country would have no desire to migrate to the capital abundant country. (d) workers in the capital abundant country would wish to migrate to the labor abundant country. (e) workers in the capital abundant country would migrate to the labor abundant country. Answer: C

《国际经济学》篇章精选练习题及答案(DOC)

第1章绪论 重点问题:国际经济学的产生、发展、对象及其其他经济学科的关系 单选 1.国际经济学分析的最基本的出发点是(B) A经济增长 B经济自然增长 C制度创新的经济增长 D经济发展 2.经济发展是(D) A经济结构的变革 B社会和政治体制的变革 C经济自然增长 D制度创新的经济增长 3.国际经济最基本的出发点是(B ) A社会分工 B国际分工 C产业内分工 D产业之间的分工和合作 4.国际经济交往的主要方式是(A) A生产要跨国界流动 B国际分工 C商品跨国界流通 D开放经济 第2章古典国际贸易理论 重点问题:绝对利益说的基本内容及其评价比较利益说的基本内容及其评价 单选 1.在斯密的绝对优势贸易理论中,(C)。 A所有产品均具有绝对优势的国家最终将获得全部黄金和白银 B具有绝对优势的国家将获得大量贸易余额 C如果两个国家分别出口本国劳动成本相对较低的产品,将同时从贸易中获益 D如果一国不用关税壁垒保护本国产业,将丧失绝对优势 2.李嘉图的比较优势理论指出,(B)。 A贸易导致不完全专业化 B即使一个国家不具有绝对成本优势,也可以从出口绝对成本劣势相对较小的产品中获益 C与不具备绝对成本优势的国家相比,具有绝对成本优势的国家可以从贸易中获利更多 D只有具备比较优势的国家才能获得贸易余额 3.如果一个阿根廷工人能生产3蒲式耳小麦或1辆汽车,而一个巴西工人能生产4蒲式耳小麦或2辆汽车,则(D)。 A巴西在小麦和汽车生产上都具有绝对优势,而阿根廷没有比较优势 B阿根廷在小麦和汽车生产上都具有绝对优势,而巴西没有比较优势 C巴西在小麦和汽车生产上都具有绝对优势,而阿根廷在汽车生产上具有比较优势 D巴西在小麦和汽车生产上都具有绝对优势,而阿根廷在小麦生产上具有比较优势 4.根据比较优势原理的政策经验,一国从国际贸易中获益的条件是(B)。 A制造大量出口顺差 B以较低的机会成本进口商品而不是在国内生产 C本国比贸易伙伴强大 D本国相对于贸易伙伴具备绝对效率优势 5.比较利益理论认为国际贸易的驱动力是( A ) A.劳动生产率的差异 B.技术水平的差异 C.产品品质的差异 D.价格的差异 6.在比较利益模型中,两种参与贸易商品的国际比价( C ) A.在两国贸易前的两种商品的国内比价之上 B.在两国贸易前的两种商品的国内比价之下 C.在两国贸易前的两种商品的国内比价之间 D.与贸易前的任何一个国家的国内比价相同 简答: 1.请从国际贸易实际出发评价绝对利益说 P20 斯密的绝对利益学说揭示了在自由市场经济条件下,国际贸易产生的原因在于两国之间劳动生产率的绝对差异,按照绝对利益学说的原则进行国际分工,贸易的参与者与整个世界会因此而获得利益。这一学说在一定程度上反映出了国际贸易中的某些规律,为产业资本的发展提供了相应的理论支撑,具有重要的实践意义和理论意义。 从国际贸易实际出发的评价斯密的绝对利益学说在实践中运用存在着一个必要的假设前提:一国要参加国际贸易,就必然要有至少一种产品与贸易伙伴相比处于劳动生产率绝对高或生产所耗费的劳动绝对低的地位上,以便利用劳动生产率的绝对差异进人国际市场。如果一国在所有的产品生产上,劳动生产率均低于贸易对象国,该国便不具备参加国际分工的条件,或者在国际贸易中没有任何的利益获得。这一点在理论上过于绝对,在实践中也不符合实际情况(发展中国家劳动生产率很可能在所有产品上都不如发达国家,但仍然在进行国际贸易),实际上陷入了理论与实践的两难境地:如果没有超过贸易对手的高劳动生产率部门,该国便被排除在国际贸易的大门之外,或者在贸易中本国的生产部门将被对方的竞争击垮。显然,世界贸易的历史与现实并不完全、普遍地符合斯密这样的假设。

克鲁格曼国际经济学第八版上册课后答案Word版

Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model Chapter Organization The Concept of Comparative Advantage A One-Factor Economy Production Possibilities Relative Prices and Supply Trade in a One-Factor World Box: Comparative Advantage in Practice: The Case of Babe Ruth Determining the Relative Price after Trade The Gains from Trade A Numerical Example Box: The Losses from Non-Trade Relative Wages Misconceptions about Comparative Advantage Productivity and Competitiveness The Pauper Labor Argument Exploitation Box: Do Wages Reflect Productivity? Comparative Advantage with Many Goods Setting Up the Model Relative Wages and Specialization Determining the Relative Wage with a Multigood Model Adding Transport Costs and Non-Traded Goods Empirical Evidence on the Ricardian Model Summary

国际经济学作业答案第一章

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