国际经济学模拟试题英文含答案

国际经济学模拟习题（3）

一、True or False （10*1’=10’）

1.?Trade is a zero-sum activity; if one country gains, the other must lose.

2.? A nation maximizes satisfaction by reaching the highest possible indifference curve, and

in the absence of trade will produce where its production possibilities schedule is

tangent to an indifference curve.

3.? The factor endo wments model predicts that international trade will tend to equalize the

prices of trade-able goods among nations, but to increase the wage gap between

capital-abundant and labor-abundant nations.

4.? A tax of 10 percent on imports of shoes would be an example of a specific tariff.

5. An import quota will not raise the do mestic price of the product as would a tariff,

because it is not a tax on imports.

6.? In bala nce-of-payme nts account, a transaction resulting in receipt of a payment is

recorded as a credit, whereas a transaction resulting in a payment to other nations is

recorded as a debit.

7.? Because they do not include an exchange of goods or services, unilat eral transfers do not

appear on a nation's balance of payments account.

8. David Hume was one of the first econo mists to provide analytical support for

mercantilist trade policies.

9. A nation would be most likely to find its trade balance improving afte r a currency

depreciation if that nation’s de mand for imports and foreign demand for its exports was very inelastic.

10.? A nation with neither a balance of payments surplus nor a balance of payments deficit is

said to be in internal balance.

二、choices（15*3’=45’）

1.?The la w of comparative advantage

a). was ratified by the World Trade Organization

b). explains ho w all countries can benefit when each specializes in producing ite ms in which it has the greatest relative efficiency

c). explains ho w only the most efficient nations can benefit from trade

d). is used to evaluate a country’s military strength

2.?The theory of absolute advantage was developed by

a. the Mercantilists

b. David Hume

c. Adam Smith

d. David Ricardo

3.?David Ricardo developed the principle of co mparative advantage showing that

a. a nation must be the least-cost producer of a good in order to export that item

b. no nation could have an absolute advantage in all goods

c. in a two-country example, only one nation can have a comparative advantage

d. even a nation that has lower productivity in all goods can benefit by exporting the item in which it is relatively less inefficient

4.?An indifference curve

a. sho ws that most people really are indifferent about international trade

b. sho ws the demand preferences of consumers

c. reflects the relative costs of production within a nation

d. indicates how much labor a country has

5.?To maximize its satisfaction, a nation will ensure that its terms-of-trade line

a. is tangent to its production possibilities frontier at one point (production point) and also to the highest attainable indifference curve at another point (consumption point)

b. is tangent to its production possibilities frontier and intersects an indi fference curve

c. intersects its production possibilities frontier and is tangent to an indifference curve

d. intersects its production possibilities frontier at one point and an indifference curve at another point

6.?Factor-price equalization predicts that with international trade

a. the price of a nation’s abundant factor will rise and that of its scarce factor will fall

b. the price of a nation’s abundant factor will fall and that of its scarce factor will rise

c. the prices of a nation’s abundant a nd scarce factors both will rise

d. the prices of a nation’s abundant and scarce factors both will fall

7.?The effective rate of protection

a. distinguishes between tariffs that are effective and those that are ineffective

b. is the minimum level at whi ch a tariff beco mes effective in limiting imports

c. sho ws the increase in value-added for do mestic production that a particular tariff structure makes possible, in percentage terms

d. sho ws how effective a tariff is in raising revenue

8.?The institutio nal frame work developed in 1947 to promote trade liberalization is known as

a. the GATT

b. the WTO

c. the IMF

d. The World Bank

9.?Developing nations

a. have very limited involvement in international trade

b. trade mostly with each other

c. rely heavily on exports of primary products to industrial nations

d. rely heavily on exports of manufactured products

10.?A customs union is unique in that it

a. has no tariffs on trade among member nations

b. has no tariffs on trade among me mber nations and a c o mmon set of tariffs on imports from non-me mbers

c. has no tariffs on trade among member nations, a common set of tariffs on imports from non-me mbers, and free mobility of factors of production such as labor and capital among

me mbers

d. allows unrestricted labor immigration from non-me mber nations

11.?A nation's balance of payments statement

a. is a record of that nation's assets abroad and its liabilities to those from other nations

b. is an accounting adjustment process ensuring that a nation's expor ts will be equal to its imports

c. does not include transactions of foreign citizens or companies living or operating within that nation

d. is a record of the economic transactions between residents of that nation and the rest of the world, usually f or a period of one year.

12.?Since balance-of-payments accounting is a double-entry accounting system, an export of

U.S. wheat to Mexico paid for by a deposit to the U.S. exporters account in a Mexican bank would be recorded on the U.S. balance of payments as

a. a credit for merchandise exports and a credit to short-term financial flows

b. a credit for merchandise exports and a debit to short-term financial flows.

c. a credit for merchandise exports and a debit to unilateral transfers

d. a credit for mer chandise exports and a debit to official settlements

13.?The foreign-exchange market

a. is located in New York

b. is a market in Chicago for the international trading of co mmodities such as wheat or copper.

c. is a mechanism for individuals and institutions to exchange one national or regional currency or debt instrument for those of other nations or regions.

d. is open fro m 9:00 a.m. to 3:00 p.m. Ne w York time, Monday through Friday.

14.?Market fundamental s that might be expected to influence exchange rate movements include

all of the following factors except

a. differences in real income growth rates betwe en countries

b. differences in real interest rates between countries

c. speculative opinion about fu ture exchange rates

d. changes in perceived profitability of economic investments between two countries

15.?If inflation is higher in Mexico than in the United States, the law of one price would predict that

a. trade between Mexico and the United States would decline

b. the dollar price of autos purchased in Mexico would be higher than the dollar price of

comparable autos purchased in the United States

c. the peso would appreciate relative to the dollar by an amount equal in percentage terms to the

difference between the two inflation rates

d. the peso would depreciate relative to the dollar by an amount equal in percentage terms to the

difference between the two inflation rates

三、Questions（45’, answer these questions in Chinese）

1. Assume that labor is the only factor used in production, and that the costs of producing

(1) Express the price of butter relative to the price of cloth in terms of labor content for Home and Foreign in the absence of trade.

(2) What do these relative prices reveal about each country’s comparative advantage?

(3) What do these relative prices sugge st about the world price of butter relative to cloth that will exist once these countries trade with each other?

(4) If the world price stabilizes at 1 with trade, what are the gains by the Home country achieved through trade with the Foreign country?

2. Explain the immiserizing growth and list the case for immiserizing growth to be occur. (8’)

3. Explain the exchange rate overshooting theory (8’)

4. Suppose that the nominal interest rate on 3-month Treasury bills is 8 percent in the United

States and 6 percent in the United Kingdom, and the rate of inflation is 10 percent in the United States and 4 percent in the United Kingdom.(9’)

(1) What is the real interest rate in each nation?

(2) In which direction would international investment flow in response to these real interest rates?

(3) What impact would these investment flo ws have on the dollar’s exchange value?

5. What effects does labor migration have on the country of immigration? The country of

emigration? The world as a whole?(12’)

国际经济学模拟习题（3）参考答案

一、判断题（每题1分，共10分）╳√ ╳╳╳√ ╳╳╳╳

二、选择题（每题3分，共45分）bcdba acacb dbccd

三、简答题（共45分）

1、(1) 封闭条件下，本国可以用一半的生产一单位布的劳动时间生产一单位黄油。这表示，在封闭条件下，本国黄油与布的相对价格是1/2，外国黄油与布的相对价格是2。（2分）

（2）根据上面的相对价格，表明本国生产黄油有比较优势，外国的比较优势是生产布。（2分）

（3）如果两国发生国际贸易，国际比价应该落在封闭条件下本国和外国国内相对价格之间。（2分）

（4）如果世界市场价格为1，本国通过出口黄油，进口布，用一单位黄油可以换得1单位布，比在本国用两单位黄油换一单位布多获得一单位黄油的利益。（2分）

2、出口偏向型增长对一国的福利产生两种相反的作用，因为生产的多，该国可获得好处，但由于出口价格下降，也遭受损失，如果贸易恶化的负向作用超过了产量增加的正向作用，该国就发生了贫困化增长。（4分）以下情况下最有可能发生贫困化增长：

（1）一国的经济增长偏向于它的出口部门（1分）

（2）该国相对于世界市场而言是个大国（1分）

（3）外国对本国出口产品的需求严重缺乏价格弹性（1分）

（4）本国严重依赖于国际贸易（1分）

3、汇率的粘性价格货币分析法简称为超调模型，它认为商品市场与资产市场的调整速度是不同的（2分），商品市场上的价格水平具有粘性，购买力平价短期内不成立（1分），经济存在由短期平衡向长期平衡调整的过程，而汇率作为一种特殊资产的价格，其变动受人们对未来市场基本因素预期的变化影响很大（1分），当货币供给一次性增加以后，本币汇率的瞬时贬值程度大于其长期贬值程度（2分），我们称这种现象为汇率超调现象，该现象有助于解释为什么汇率每一天的升值或贬值会如此剧烈（2分）。

4、（1）实际利率=名义利率-通货膨胀率（1分）美国实际利率=8%-10%=-2%（1分）

英国实际利率=6%-4%=2%（1分）

（2）国际资本应该从美国流向英国（2分）

（3）国际资本从美国流向英国，对英镑需求增加，英镑升值，所以即期市场上美元相对于英镑贬值（2分）。远期外汇市场上，美元升水率为4%（2分）。

5、（1）对世界来说，由于移民，工人被吸引到他们最有效率的领域，世界产出趋于扩张（2分）劳动力流动增加的世界收入并没有在所有国家和所有生产要素之间平均分配。（2分）

（2）对移入国，由于生产要素增加，总收入增加（2分），但收入由劳动力向资本再分配，其本土工人遭受损失（2分）

（3）对移出国，由于生产要素减少，总收入减少（2分），收入由资本向劳动力再分配，未移民的劳动力收入增加（2分）