国际经济学作业答案第七章.docx
国际经济学习题答案（国际金融）共18页word资料
国际经济学习题答案（国际金融）共18页word资料国际经济学习题答案国际金融部分1.不同意，至少从一般意义上来讲是如此。
经常项目盈余的含义之一是，国家的商品与服务出口大于进口。
人们可能会认为这是不好的——国家正在为出口而生产商品和提供服务，与此同时，国家却没有得到使其能够进行更多消费和国内投资的进口商品和服务。
从这一角度讲，拥有经常项目赤字却会是一件好事情——更多的进口可以使国家的国内消费和投资量超过其当前生产量。
经常项目盈余的另一个含义是，国家在进行外国金融投资——它正在建立对外国人的债权，这会增加国家的财富。
这听起来很好，但正如前面所指出的，它是以放弃当前国内消费为代价的。
经常项目赤字意味着国家对外国人债权的减少或对外国人债务的增加。
这听起来很不好，但它意味着更高水平的当前国内支出这一福利。
不同的国家在不同的时期，对这些代价和收益会有不同的重视程度。
因此，我们不能简单地认为经常项目盈余是否优于经常项目赤字。
2.交易c会导致经常项目的盈余，因为这是商品出口，该出口得到的支（交易a不会使经常项目账户发生变动，付体现于资本账户的某个项目。
因为它既是出口又是进口。
交易b导致经常项目的赤字，因为它属于进口。
交易d也会导致经常项目的赤字，因为它属于单方转移形式的流出。
交易e不对经常项目账户中的任何项目发生影响。
）3. a.商品贸易余额：330-198=132（美元）商品和服务余额：330-198+196-204=124（美元）经常项目余额：330-198+196-204+3-8=119（美元）官方结算余额：330-198+196-204+3-8+102-202+4=23（美元）b.官方储备资产变化（净值）=-官方结算余额=-23（美元）。
该国在增加其官方储备资产的净持有量。
4. a.国际投资头寸（10亿）：30＋20＋15—40—25=0（美元）。
该国既不是国际债权国，也不是国际债务国。
它持有的国外资产等于它对外国人的负债。
世界经济概论(第三版)第七章习题与答案.docx
第七章习题与答案1.导致布雷顿森林体系瓦解的根本原因是什么？随着时间的推移，布雷顿森林体系的根本缺陷开始凸现：要满足世界经济和全球贸易增长之需，美元的供给必须不断增加，从而美国的国际收支逆差必然不断扩大。
而美国国际收支逆差的不断扩大和美元供给的持续超速增长，一方面将使美元与黄金Z间的固定比价难以维持；另一方面，必将对美元产生贬值压力, 并导致美元与其他国家货币的固定比价也难以长期维持，从而使这种国际货币制度的基础发生动摇。
简言之，美元的双重身份和双挂钩，是布雷顿森林体系的根木缺陷。
2 •为什么说实体经济的发展是导致金融全球化产生和发展的首要原因？金融全球化虽然是一个金融问题，但其产生和发展则根源于实体经济即全球生产、贸易及对外直接投资的发展。
金融是应实休经济发展的需要而产生、为实体经济发展服务、随着实体经济的发展而发展的。
战后，在科技革命的推动下, 世界经济和贸易获得了史无前例的大发展，为国际金融的人发展提供了物质技术基础。
全球制造业和服务业的大发展，为国际贸易大发展奠定了基础。
国际贸易，特别是国际服务贸易的大发展，直接促进了金融金球化的发展。
国际直接投资, 特别是对金融服务业投资的迅速增长，既是金融全球化的更直接的促进因素，也是金融全球化的重要标志。
发达国家服务业生产的迅速发展，不仅导致全球服务贸易迅速增长，而且使发达国家通过服务贸易这一途径进入发展中国家的金融服务业；以跨国公司为主要载体的金球直接投资的迅速增长，不仅推动了金融机构的活动跨越民族国家的疆界，而且为金融的全球化创造了必要的实体经济条件。
从这个意义上说，实体经济的发展是导致金融全球化产生和发展的首要原因。
3.区域货币合作必须具备哪些条件？根据最优货币区理论，区域货币合作的基础是相近的经济发展水平、经济制度和经济结构，以及生产要素的自由流动。
最优货币区理论是与区域货币合作有关的一种理论，这一理论是由美国经济学家罗伯特•蒙代尔在20世纪60年代初提出的，后来许多经济学家从不同的角度修止、补充和进一步阐述了蒙代尔最初提出的这一理论。
国际经济学第九版英文课后答案解析第7单元
CHAPTER 7ECONOMIC GROWTH AND INTERNATIONAL TRADEOUTLINE7.1 Introduction7.2 Growth of Factors of Production7.2a Labor Growth and Capital Accumulation Over Time7.2b The Rybczynski Theorem7.3 Technical Progress7.3a Neutral, Labor-Saving, and Capital-Saving Technical Progress7.3b Technical Progress and the Nation's Production FrontierCase Study 7-1: Changes in Relative Resource Endowments of Various Countries and RegionsCase Study 7-2: Change in Capital-Labor Rations in Selected Countries7.4 Growth and Trade: The Small Country Case7.4a The Effects of Growth on Trade7.4b Illustration of Factor Growth, Trade, and Welfare7.4c Technical Progress, Trade, and WelfareCase Study 7-3: Growth of Output per Worker from Capital Deepening, Technological Change, and Improvements in Efficiency7.5 Growth and Trade: The Large-Country Case7.5a Growth and the Nation's Terms of Trade and Welfare7.5b Immiserizing Growth7.5c Illustration of Beneficial Growth and TradeCase Study 7-4: Growth, Trade, and the Giants of the Future7.6 Growth, Change in Tastes, and Trade in Both Nations7.6a Growth and Trade in Both Nations7.6b Change in Tastes and Trade in Both NationsCase Study 7-5: Change in the Revealed Comparative Advantage of Various Countries or RegionsCase Study 7-6: Growth, Trade, and Welfare in the Leading Industrial NationsAppendix: A7.1 Formal Proof of Rybczynski TheoremA7.2 Growth with Factor ImmobilityA7.3 Graphical Analysis of Hicksian Technical ProgressKey TermsComparative statics Antitrade production and consumptionDynamic analysis Neutral production and consumption Balanced growth Normal goodsRybczynski theorem Inferior goodsLabor-saving technical progress Terms-of-trade effectCapital-saving technical progress Wealth effectProtrade production and consumption Immiserizing growthLecture Guide1.This is not a core chapter and it is one of the most challenging chapters ininternational tradetheory. It is included for more advanced students and for completeness.2.If I were to cover this chapter, I would present two sections in each of threelectures.Time permitting, I would, otherwise cover Sections 1 and 2, paying special attention to theRybczynski theorem.Answer to Problems1. a) See Figure 1.b) See Figure 2c) See Figure 3.2. See Figure 4.3. a) See Figure 5.b) See Figure 6.c) See Figure 7.4. Compare Figure 5 to Figure 1.Compare Figure 6 to Figure 3. Note that the two production frontiers have the same verticalor Y intercept in Figure 6 but a different vertical or Y intercept in Figure 3.Compare Figure 7 to Figure 2. Note that the two production frontiers have the samehorizontal or X intercept in Figure 7 but a different horizontal or X intercept in Figure 2.5. See Figure 8 on page 66.6. See Figure 9.7. See Figure 10.8. See Figure 11.9. See Figure 12.10. See Figure 13 on page 67.11. See Figure 14.12. See Figure 15.13.The United States has become the most competitive economy in the worldsince the early1990’s while the data in Table 7.3 refers to the 1965-1990 period.14.The data in Table 7.4 seem to indicate that China had a comparativeadvantage in capital-intensive commodities and a comparative disadvantage in unskilled-labor intensive commodities in 1973. This was very likely due to the many trade restrictions and subsidies, which distorted the comparative advantage of China. Its truecomparative advantage became evident by 1993 after China had started to liberalize its economy.App. 1a. See Figure 16.1b. For production and consumption to actually occur at the new equilibrium point after the doubling of K in Nation 2, we must assume either than commodity X is inferior or that Nation 2 is too small to affect the relative commodity prices at which it trades.1c. Px/Py must rise (i.e., Py/Px must fall) as a result of growth only.Px/Py will fall even more with trade.1. If the supply of capital increases in Nation 1 in the production of commodity Yonly, the VMPLy curve shifts up, and w rises in both industries. Some labor shiftsto the production of Y, the output of Y rises and the output of X falls, r falls, andPx/Py is likely to rise.2. Capital investments tend to increase real wages because they raise the K/L ratio and the productivity of labor. Technical progress tends to increase K/L and real wages if it is L-saving and to reduce K/L and real wages if it is K-saving.Multiple-Choice Questions1. Dynamic factors in trade theory refer to changes in:a. factor endowmentsb. technologyc. tastes*d. all of the above2. Doubling the amount of L and K under constant returns to scale:a. doubles the output of the L-intensive commodityb. doubles the output of the K-intensive commodityc. leaves the shape of the production frontier unchanged*d. all of the above.3. Doubling only the amount of L available under constant returns to scale:a. less than doubles the output of the L-intensive commodity*b. more than doubles the output of the L-intensive commodityc. doubles the output of the K-intensive commodityd. leaves the output of the K-intensive commodity unchanged4. The Rybczynski theorem postulates that doubling L at constant relative commodity prices:a. doubles the output of the L-intensive commodity*b. reduces the output of the K-intensive commodityc. increases the output of both commoditiesd. any of the above5. Doubling L is likely to:a. increases the relative price of the L-intensive commodityb. reduces the relative price of the K-intensive commodity*c. reduces the relative price of the L-intensive commodityd. any of the above6.Technical progress that increases the productivity of L proportionatelymore than theproductivity of K is called:*a. capital savingb. labor savingc. neutrald. any of the above7. A 50 percent productivity increase in the production of commodity Y:a. increases the output of commodity Y by 50 percentb. does not affect the output of Xc. shifts the production frontier in the Y direction only*d. any of the above8. Doubling L with trade in a small L-abundant nation:*a. reduces the nation's social welfareb. reduces the nation's terms of tradec. reduces the volume of traded. all of the above9. Doubling L with trade in a large L-abundant nation:a. reduces the nation's social welfareb. reduces the nation's terms of tradec. reduces the volume of trade*d. all of the above10.If, at unchanged terms of trade, a nation wants to trade more aftergrowth, then thenation's terms of trade can be expected to:*a. deteriorateb. improvec. remain unchangedd. any of the above11. A proportionately greater increase in the nation's supply of labor than ofcapital is likelyto result in a deterioration in the nation's terms of trade if the nation exports:a. the K-intensive commodity*b. the L-intensive commodityc. either commodityd. both commodities12. Technical progress in the nation's export commodity:*a. may reduce the nation's welfareb. will reduce the nation's welfarec. will increase the nation's welfared. leaves the nation's welfare unchanged13. Doubling K with trade in a large L-abundant nation:a. increases the nation's welfareb. improves the nation's terms of tradec. reduces the volume of trade*d. all of the above14. An increase in tastes for the import commodity in both nations:a. reduces the volume of trade*b. increases the volume of tradec. leaves the volume of trade unchangedd. any of the above15. An increase in tastes of the import commodity of Nation A and export in B:*a. will reduce the terms of trade of Nation Ab. will increase the terms of trade of Nation Ac. will reduce the terms of trade of Nation Bd. any of the aboveADDITIONAL ESSAYS AND PROBLEMS FOR PART ONE1.Assume that both the United States and Germany produce beef andcomputer chips with the following costs:United States Germany(dollars) (marks)Unit cost of beef (B) 2 8Unit cost of computer chips (C) 1 2a) What is the opportunity cost of beef (B) and computer chips (C) in each country?b)In which commodity does the United States have a comparativecost advantage?What about Germany?c)What is the range for mutually beneficial trade between the UnitedStates and Germany for each computer chip traded?d)How much would the United States and Germany gain if 1 unit ofbeef is exchanged for 3 chips?Ans. a) In the United States:the opportunity cost of one unit of beef is 2 chips;the opportunity cost of one chip is 1/2 unit of beef.In Germany:the opportunity cost of one unit of beef is 4 chips;the opportunity cost of one chip is 1/4 unit of beef.b) The United States has a comparative cost advantage in beef with respect to Germany, while Germany has a comparative cost advantage in computer chips.c)The range for mutually beneficial trade between the United Statesand Germany for each unit of beef that the United States exports is2C < 1B < 4Cd) Both the United States and Germany would gain 1 chip for each unit of beef traded.2.Given: (1) two nations (1 and 2) which have the same technology butdifferent factor endowments and tastes, (2) two commodities (X and Y) produced under increasing costs conditions, and (3) no transportation costs, tariffs, or other obstructions to trade. Prove geometrically that mutually advantageous trade between the two nations is possible.Note: Your answer should show the autarky (no-trade) and free-trade points of production and consumption for each nation, the gains from trade of each nation, and express the equilibrium condition that should prevail when trade stops expanding.)Ans.: See Figure 1 on page 74.Nations 1 and 2 have different production possibilities curves and different community indifference maps. With these, they will usually endup with different relative commodity prices in autarky, thus making mutually beneficial trade possible.In the figure, Nation 1 produces and consumes at point A and Px/Py=P A in autarky,while Nation 2 produces and consumes at point A' and Px/Py=P A'. Since P A < P A',Nation 1 has a comparative advantage in X and Nation 2 in Y. Specialization inproduction proceeds until point B in Nation 1 and point B' in Nation 2, at which P B=P B' and the quantity supplied for export of each commodity exactly equals the quantity demanded for import. Thus, Nation 1 starts at point A in production and consumption in autarky, moves to point B in production, and by exchanging BC of X for CE of Y reaches point E in consumption. E > A since it involves more of both X and Y and lies on a higher community indifference curve. Nation 2 starts at A' in production and consumption in autarky, moves to point B' in production, and by exchanging B'C' of Y for C'E' of X reaches point E'in consumption (which exceeds A').At Px/Py=P B=P B', Nation 1 wants to export BC of X for CE of Y, while Nation 2 wants to export B'C' (=CE) of Y for C'E' (=BC) of X. Thus, P B=P B' is the equilibrium relative commodity price because it clears both (the X and Y) markets.3.Draw a figure showing: (1) in Panel A a nation's demand and supplycurve for A traded commodity and the nation's excess supply of the commodity, (2) in Panel C the trade partner's demand and supply curve for the same traded commodity and its excess demand for the commodity, and (3) in Panel B the supply and demand for the quantity traded of the commodity, its equilibrium price, and why aprice above or below the equilibrium price will not persist. At any other price, QD QS, and P will change to P2.Ans. See Figure 2 on page 74.The equilibrium relative commodity price for commodity X (the tradedcommodityexported by Nation 1 and imported by Nation 2) is P2 and theequilibrium quantityof commodity X traded is Q2.4.a) Identify the conditions that may give rise to trade between twonations.b) What are some of the assumptions on which the Heckscher-Ohlin theory is based?c) What does this theory say about the pattern of trade and effect of trade on factor prices?Ans. a) Trade can be based on a difference in factor endowments, technology, or tastes between two nations. A difference either in factor endowments or technology results in a different production possibilities frontier for each nation, which, unless neutralized by a difference in tastes, leads to a difference in relative commodity price and mutually beneficial trade. If two nations face increasing costs and have identical production possibilities frontiers but different tastes, there will also be a difference in relative commodity prices and the basis for mutually beneficial trade between the two nations. The difference in relative commodity prices is then translated into a difference in absolute commodity prices between the two nations, which is the immediate cause of trade.b) The Heckscher-Ohlin theory (sometimes referred to as the modern theory – asopposed to the classical theory - of international trade) assumes that nations have the same tastes, use the same technology, face constant returns to scale (i.e., a given percentage increase in all inputs increases output by the same percentage) but differ widely in factor endowments. It also says that in the face of identical tastes or demand conditions, this difference in factor endowments will result in a difference in relative factor prices between nations, which in turn leads to a difference in relative commodity prices and trade. Thus, in the Heckscher-Ohlin theory, the international difference in supply conditions alone determines the pattern of trade. To be noted is that the two nations need not be identical in other respects in order for international trade to be based primarily on the difference in their factor endowments.c) The Heckscher-Ohlin theorem postulates that each nation will export the commodity intensive in its relatively abundant and cheap factor and import the commodity intensive in its relatively scarce and expensive factor. As an important corollary, it adds that under highly restrictive assumptions, trade will completely eliminate the pretrade relative and absolute differences in the price of homogeneous factors among nations. Under less restrictive and more usual conditions, however, trade will reduce, but not eliminate, the pretrade differences in relative and absolute f actor prices among nations. In any event, the Heckscher-Ohlin theory does say something very useful on how trade affects factor prices and the distribution of income in each nation. Classical economists were practically silent on this point.5. consumers demand more of commodity X (the L-intensive commodity)and less of commodity Y (the K- intensive commodity). Suppose that Nation 1 is India, commodity X is textiles, and commodity Y is food. Starting from the no-trade equilibrium position and using the Heckscher-Ohlin model, trace the effect of this change in tastes on India's(a) relative commodity prices and demand for food and textiles,(b) production of both commodities and factor prices, and(c) comparative advantage and volume of trade.(d) Do you expect international trade to lead to the completeequalization of relative commodity and factor prices between India and the United States? Why?Ans. a. The change in tastes can be visualized by a shift toward the textile axis in India's indifference map in such a way that an indifference curve is tangent to the steeper segment ofIndia's production frontier (because of increasing opportunity costs) after the increase in demand for textiles. This will causethe pretrade relative commodity price of textiles to rise in India.b. The increase in the relative price of textiles will lead domestic producers in India to shift labor and capital from the production of food to the production of textiles. Since textiles are L-intensive in relation to food, the demand for labor and therefore the wage rate will rise in India. At thesame time, as the demand for food falls, the demand for and thus the price of capital will fall. With labor becoming relative more expensive, producers in India will substitute capital for labor in the production of both textiles and food.Even with the rise in relative wages and in the relative price of textiles, India still remains the L-abundant and low-wage nation with respect to a nation such as the United States. However, the pretrade difference in the relative price of textiles between India and the United States is nowsomewhat smaller than before the change in tastes in India. As a result the volume of trade required to equalize relative commodity prices and hence factor prices is smaller than before. That is, India need now export a smaller quantity of textiles and import less food than before for the relative price of textiles in India and the United States to be equalized.Similarly, the gap between real wages and between India and the United States is now smaller and can be more quickly and easily closed (i.e., with a smaller volume of trade).c. Since many of the assumptions required for the completeequalization of relative commodity and factor pricesdo not hold in the real world, great differences can be expected and do in fact remain between real wages inIndia and the United States. Nevertheless, trade would tend to reduce these differences, and the H-O model does identify the forces that must be considered to analyze the effect of trade on the differences in the relative and absolutecommodity and factor prices between India and the United States.5.(a) Explain why the Heckscher-Ohlin trade model needs to beextended.(b) Indicate in what important ways the Heckscher-Ohlin trade modelcan be extended.(c) Explain what is meant by differentiated products and intra-industry trade.Ans. (a) The Heckscher-Ohlin trade model needs to be extended because, while generally correct, it fails to explain a significant portion of international trade, particularly the trade in manufactured products among industrial nations.(b)The international trade left unexplained by the basic Heckscher-Ohlin trade mode can be explained by(1) economies of scale,(2) intra-industry trade, and(3) trade based on imitation gaps and product differentiation.(c)Differentiated products refer to similar, but not identical, products(such as cars,typewriters, cigarettes, soaps, and so on) produced by the same industry or broadproduct group. Intra-industry trade refers to the international trade in differentiatedproducts.。
国际经济学课程学习题集与参考答案
国际经济学习题集及参考答案一、填空、选择、判断题（每题1分）：第一章：1、国际贸易理论以微观经济学原理为基础，讨论世界围的资源配置问题。
2、最常用国际贸易模型的结构形式为两个国家、两种产品（或部门）和两种要素。
3、在完竞争的假设前提下，封闭条件下的相对价格是国际贸易产生的基础。
4、国家间的供给、需求方面的差异是造成相对价格的根源。
5、贸易后，国际均衡价格由两国的供需共同决定，国际均衡价格处于两国封闭下的相对价格之间。
6、国际贸易利益包括两个部分：来自交换的利益和来自专业化的利益。
7、贸易理论主要围绕三个问题展开：国际贸易的格局、国际贸易的条件、国际贸易的收益。
第二章：1、斯密的绝对优势论认为国际贸易的基础是各国之间劳动生产率的绝对差别；嘉图的比较优势论认为国际贸易的基础是各国之间劳动生产率的相对差别。
2、哈伯勒首先用机会成本概念来阐明比较优势论。
3、重商主义者提倡的国家经济政策有：限制进口和鼓励出口，采取奖金、退税、协定和殖民地贸易等措施鼓励出口。
4、嘉图认为在国际贸易中起决定作用的不是绝对成本，而是相对成本。
5、斯密的绝对优势论认为国际贸易的基础是各国之间劳动生产率的绝对差别；劳动生产率的比较优势论认为国际贸易的基础是各国之间劳动生产率的相对差别。
6、在嘉图模型中，生产可能性边界线方程是一个线性方程式，表示A、B两国的PPF曲线是一条直线段。
7、重商主义者提倡的国家经济政策有：限制进口和鼓励出口，采取奖金、退税、协定和殖民地贸易等措施鼓励出口。
8、嘉图认为在国际贸易中起决定作用的不是绝对成本，而是相对成本。
9、机会成本概念表明：彼种选择的机会成本就构成此种选择的机会成本。
选择题：1、首先用机会成本理论来解释比较优势原理的学者是： C、A、嘉图B、罗布津斯基C、哈伯勒D、穆勒第三章：1、要素禀赋理论最初是由赫克歇尔和俄林提出的，后经萨缪尔森等人加工不断完善。
2、要素禀赋理论由H-O定理、要素价格均等化定理和罗伯津斯基定理、斯托伯-萨缪尔森定理等构成3、要素价格均等化理论指出国际贸易通过商品价格的均等化会导致要素价格的均等化，从而在世界围实现资源的最佳配置。
(完整word版)国际经济学第九版英文课后答案 第7单元
CHAPTER 7ECONOMIC GROWTH AND INTERNATIONAL TRADEOUTLINE7.1 Introduction7.2 Growth of Factors of Production7.2a Labor Growth and Capital Accumulation Over Time7.2b The Rybczynski Theorem7.3 Technical Progress7.3a Neutral, Labor-Saving, and Capital-Saving Technical Progress7.3b Technical Progress and the Nation's Production FrontierCase Study 7-1: Changes in Relative Resource Endowments of Various Countries and Regions Case Study 7-2: Change in Capital-Labor Rations in Selected Countries7.4 Growth and Trade: The Small Country Case7.4a The Effects of Growth on Trade7.4b Illustration of Factor Growth, Trade, and Welfare7.4c Technical Progress, Trade, and WelfareCase Study 7-3: Growth of Output per Worker from Capital Deepening, TechnologicalChange, and Improvements in Efficiency7.5 Growth and Trade: The Large-Country Case7.5a Growth and the Nation's Terms of Trade and Welfare7.5b Immiserizing Growth7.5c Illustration of Beneficial Growth and TradeCase Study 7-4: Growth, Trade, and the Giants of the Future7.6 Growth, Change in Tastes, and Trade in Both Nations7.6a Growth and Trade in Both Nations7.6b Change in Tastes and Trade in Both NationsCase Study 7-5: Change in the Revealed Comparative Advantage of Various Countries or RegionsCase Study 7-6: Growth, Trade, and Welfare in the Leading Industrial NationsAppendix: A7.1 Formal Proof of Rybczynski TheoremA7.2 Growth with Factor ImmobilityA7.3 Graphical Analysis of Hicksian Technical ProgressKey TermsComparative statics Antitrade production and consumptionDynamic analysis Neutral production and consumptionBalanced growth Normal goodsRybczynski theorem Inferior goodsLabor-saving technical progress Terms-of-trade effectCapital-saving technical progress Wealth effectProtrade production and consumption Immiserizing growthLecture Guide1.This is not a core chapter and it is one of the most challenging chapters in international tradetheory. It is included for more advanced students and for completeness.2.If I were to cover this chapter, I would present two sections in each of three lectures.Time permitting, I would, otherwise cover Sections 1 and 2, paying special attention to the Rybczynski theorem.Answer to Problems1. a) See Figure 1.b) See Figure 2c) See Figure 3.2. See Figure 4.3. a) See Figure 5.b) See Figure 6.c) See Figure 7.4. Compare Figure 5 to Figure 1.Compare Figure 6 to Figure 3. Note that the two production frontiers have the same vertical or Y intercept in Figure 6 but a different vertical or Y intercept in Figure 3.Compare Figure 7 to Figure 2. Note that the two production frontiers have the samehorizontal or X intercept in Figure 7 but a different horizontal or X intercept in Figure 2.5. See Figure 8 on page 66.6. See Figure 9.7. See Figure 10.8. See Figure 11.9. See Figure 12.10. See Figure 13 on page 67.11. See Figure 14.12. See Figure 15.13.The United States has become the most competitive economy in the world since the early1990’s while the data in Table 7.3 refers to the 1965-1990 period.14.The data in Table 7.4 seem to indicate that China had a comparative advantage incapital-intensive commodities and a comparative disadvantage in unskilled-labor intensive commodities in 1973. This was very likely due to the many trade restrictions and subsidies, which distorted the comparative advantage of China.Its true comparative advantage became evident by 1993 after China had started to liberalize its economy.App. 1a. See Figure 16.1b. For production and consumption to actually occur at the newequilibrium point after the doubling of K in Nation 2, we mustassume either than commodity X is inferior or that Nation 2 is toosmall to affect the relative commodity prices at which it trades.1c. Px/Py must rise (i.e., Py/Px must fall) as a result of growth only.Px/Py will fall even more with trade.1. If the supply of capital increases in Nation 1 in the production of commodity Yonly, the VMPLy curve shifts up, and w rises in both industries. Some labor shifts to the production of Y, the output of Y rises and the output of X falls, r falls, and Px/Py is likely to rise.2. Capital investments tend to increase real wages because they raise the K/L ratioand the productivity of labor. Technical progress tends to increase K/L and realwages if it is L-saving and to reduce K/L and real wages if it is K-saving. Multiple-Choice Questions1. Dynamic factors in trade theory refer to changes in:a. factor endowmentsb. technologyc. tastes*d. all of the above2. Doubling the amount of L and K under constant returns to scale:a. doubles the output of the L-intensive commodityb. doubles the output of the K-intensive commodityc. leaves the shape of the production frontier unchanged*d. all of the above.3. Doubling only the amount of L available under constant returns to scale:a. less than doubles the output of the L-intensive commodity*b. more than doubles the output of the L-intensive commodityc. doubles the output of the K-intensive commodityd. leaves the output of the K-intensive commodity unchanged4. The Rybczynski theorem postulates that doubling L at constant relative commodity prices:a. doubles the output of the L-intensive commodity*b. reduces the output of the K-intensive commodityc. increases the output of both commoditiesd. any of the above5. Doubling L is likely to:a. increases the relative price of the L-intensive commodityb. reduces the relative price of the K-intensive commodity*c. reduces the relative price of the L-intensive commodityd. any of the above6.Technical progress that increases the productivity of L proportionately more than the productivity of K is called:*a. capital savingb. labor savingc. neutrald. any of the above7. A 50 percent productivity increase in the production of commodity Y:a. increases the output of commodity Y by 50 percentb. does not affect the output of Xc. shifts the production frontier in the Y direction only*d. any of the above8. Doubling L with trade in a small L-abundant nation:*a. reduces the nation's social welfareb. reduces the nation's terms of tradec. reduces the volume of traded. all of the above9. Doubling L with trade in a large L-abundant nation:a. reduces the nation's social welfareb. reduces the nation's terms of tradec. reduces the volume of trade*d. all of the above10.If, at unchanged terms of trade, a nation wants to trade more after growth, then the nation's terms of trade can be expected to:*a. deteriorateb. improvec. remain unchangedd. any of the above11. A proportionately greater increase in the nation's supply of labor than of capital is likely to result in a deterioration in the nation's terms of trade if the nation exports:a. the K-intensive commodity*b. the L-intensive commodityc. either commodityd. both commodities12. Technical progress in the nation's export commodity:*a. may reduce the nation's welfareb. will reduce the nation's welfarec. will increase the nation's welfared. leaves the nation's welfare unchanged13. Doubling K with trade in a large L-abundant nation:a. increases the nation's welfareb. improves the nation's terms of tradec. reduces the volume of trade*d. all of the above14. An increase in tastes for the import commodity in both nations:a. reduces the volume of trade*b. increases the volume of tradec. leaves the volume of trade unchangedd. any of the above15. An increase in tastes of the import commodity of Nation A and export in B:*a. will reduce the terms of trade of Nation Ab. will increase the terms of trade of Nation Ac. will reduce the terms of trade of Nation Bd. any of the aboveADDITIONAL ESSAYS AND PROBLEMS FOR PART ONE1.Assume that both the United States and Germany produce beef and computer chipswith the following costs:United States Germany(dollars) (marks)Unit cost of beef (B) 2 8Unit cost of computer chips (C) 1 2a) What is the opportunity cost of beef (B) and computer chips (C) in each country?b)In which commodity does the United States have a comparative cost advantage?What about Germany?c)What is the range for mutually beneficial trade between the United States andGermany for each computer chip traded?d)How much would the United States and Germany gain if 1 unit of beef isexchanged for 3 chips?Ans. a) In the United States:the opportunity cost of one unit of beef is 2 chips;the opportunity cost of one chip is 1/2 unit of beef.In Germany:the opportunity cost of one unit of beef is 4 chips;the opportunity cost of one chip is 1/4 unit of beef.b) The United States has a comparative cost advantage in beef with respect toGermany, while Germany has a comparative cost advantage in computer chips.c)The range for mutually beneficial trade between the United States and Germanyfor each unit of beef that the United States exports is2C < 1B < 4Cd) Both the United States and Germany would gain 1 chip for each unit of beeftraded.2.Given: (1) two nations (1 and 2) which have the same technology but differentfactor endowments and tastes, (2) two commodities (X and Y) produced under increasing costs conditions, and (3) no transportation costs, tariffs, or other obstructions to trade. Prove geometrically that mutually advantageous trade between the two nations is possible.Note: Your answer should show the autarky (no-trade) and free-trade points of production and consumption for each nation, the gains from trade of each nation,and express the equilibrium condition that should prevail when trade stops expanding.)Ans.: See Figure 1 on page 74.Nations 1 and 2 have different production possibilities curves and different community indifference maps. With these, they will usually end up with different relative commodity prices in autarky, thus making mutually beneficial trade possible.In the figure, Nation 1 produces and consumes at point A and Px/Py=P A in autarky, while Nation 2 produces and consumes at point A' and Px/Py=P A'. Since P A < P A',Nation 1 has a comparative advantage in X and Nation 2 in Y. Specialization inproduction proceeds until point B in Nation 1 and point B' in Nation 2, at which P B=P B' and the quantity supplied for export of each commodity exactly equals the quantity demanded for import. Thus, Nation 1 starts at point A in production and consumption in autarky, moves to point B in production, and by exchanging BC of X for CE of Y reaches point E in consumption. E > A since it involves more of both X and Y and lies on a higher community indifference curve. Nation 2 starts at A' in production and consumption in autarky, moves to point B' in production, and by exchanging B'C' of Y for C'E' of X reaches point E'in consumption (which exceeds A').At Px/Py=P B=P B', Nation 1 wants to export BC of X for CE of Y, while Nation 2 wants to export B'C' (=CE) of Y for C'E' (=BC) of X. Thus, P B=P B'is the equilibrium relative commodity price because it clears both (the X and Y) markets.3.Draw a figure showing: (1) in Panel A a nation's demand and supply curve for Atraded commodity and the nation's excess supply of the commodity, (2) in Panel C the trade partner's demand and supply curve for the same traded commodity and its excess demand for the commodity, and (3) in Panel B the supply and demand for the quantity traded of the commodity, its equilibrium price, and why a price above or below the equilibrium price will not persist. At any other price, QD QS, and P will change to P2.Ans. See Figure 2 on page 74.The equilibrium relative commodity price for commodity X (the traded commodityexported by Nation 1 and imported by Nation 2) is P2 and the equilibrium quantityof commodity X traded is Q2.4.a) Identify the conditions that may give rise to trade between two nations.b) What are some of the assumptions on which the Heckscher-Ohlin theory isbased?c) What does this theory say about the pattern of trade and effect of trade on factorprices?Ans. a) Trade can be based on a difference in factor endowments, technology, or tastes between two nations. A difference either in factor endowments or technology results in a different production possibilities frontier for each nation, which, unless neutralized by a difference in tastes, leads to a difference in relative commodity price and mutually beneficial trade. If two nations face increasing costs and have identical production possibilities frontiers but different tastes, there will also be a difference in relative commodity prices and the basis for mutually beneficial trade between the two nations. The difference in relative commodity prices is then translated into a difference in absolute commodity prices between the two nations, which is the immediate cause of trade.b) The Heckscher-Ohlin theory (sometimes referred to as the modern theory – asopposed to the classical theory - of international trade) assumes that nations have the same tastes, use the same technology, face constant returns to scale (i.e., a given percentage increase in all inputs increases output by the same percentage) but differ widely in factor endowments. It also says that in the face of identical tastes or demand conditions, this difference in factor endowments will result in a difference in relative factor prices between nations, which in turn leads to a difference in relative commodity prices and trade. Thus, in the Heckscher-Ohlin theory, the international difference in supply conditions alone determines the pattern of trade. To be noted is that the two nations need not be identical in other respects in order for international trade to be based primarily on the difference in their factor endowments.c) The Heckscher-Ohlin theorem postulates that each nation will export thecommodity intensive in its relatively abundant and cheap factor and import the commodity intensive in its relatively scarce and expensive factor. As an important corollary, it adds that under highly restrictive assumptions, trade will completely eliminate the pretrade relative and absolute differences in the price of homogeneous factors among nations. Under less restrictive and more usual conditions, however, trade will reduce, but not eliminate, the pretrade differences in relative and absolute factor prices among nations. In any event, the Heckscher-Ohlin theory does say something very useful on how trade affects factor prices and the distribution of income in each nation. Classical economists were practically silent on this point.5. consumers demand more of commodity X (the L-intensive commodity) and less ofcommodity Y (the K- intensive commodity). Suppose that Nation 1 is India, commodity X is textiles, and commodity Y is food. Starting from the no-trade equilibrium position and using the Heckscher-Ohlin model, trace the effect of this change in tastes on India's(a) relative commodity prices and demand for food and textiles,(b) production of both commodities and factor prices, and(c) comparative advantage and volume of trade.(d) Do you expect international trade to lead to the complete equalization ofrelative commodity and factor prices between India and the United States?Why?Ans. a. The change in tastes can be visualized by a shift toward the textile axis in India's indifference map in such a way that an indifference curve is tangentto the steeper segment of India's production frontier (because of increasingopportunity costs) after the increase in demand for textiles. This will causethe pretrade relative commodity price of textiles to rise in India.b. The increase in the relative price of textiles will lead domesticproducers in India to shift labor and capital from the production of food tothe production of textiles. Since textiles are L-intensive in relation to food,the demand for labor and therefore the wage rate will rise in India. At thesame time, as the demand for food falls, the demand for and thus the priceof capital will fall. With labor becoming relative more expensive,producers in India will substitute capital for labor in the production of bothtextiles and food.Even with the rise in relative wages and in the relative price of textiles,India still remains the L-abundant and low-wage nation with respect to anation such as the United States. However, the pretrade difference in therelative price of textiles between India and the United States is nowsomewhat smaller than before the change in tastes in India. As a result thevolume of trade required to equalize relative commodity prices and hencefactor prices is smaller than before. That is, India need now export asmaller quantity of textiles and import less food than before for therelative price of textiles in India and the United States to be equalized.Similarly, the gap between real wages and between India and the UnitedStates is now smaller and can be more quickly and easily closed (i.e., witha smaller volume of trade).c. Since many of the assumptions required for the complete equalization ofrelative commodity and factor prices do not hold in the real world, greatdifferences can be expected and do in fact remain between real wages inIndia and the United States. Nevertheless, trade would tend to reduce thesedifferences, and the H-O model does identify the forces that must beconsidered to analyze the effect of trade on the differences in the relative andabsolute commodity and factor prices between India and the United States.5.(a) Explain why the Heckscher-Ohlin trade model needs to be extended.(b) Indicate in what important ways the Heckscher-Ohlin trade model can beextended.(c) Explain what is meant by differentiated products and intra-industry trade.Ans. (a) The Heckscher-Ohlin trade model needs to be extended because, while generally correct, it fails to explain a significant portion of international trade, particularly the trade in manufactured products among industrial nations.(b)The international trade left unexplained by the basic Heckscher-Ohlin trade modecan be explained by(1) economies of scale,(2) intra-industry trade, and(3) trade based on imitation gaps and product differentiation.(c)Differentiated products refer to similar, but not identical, products (such as cars,typewriters, cigarettes, soaps, and so on) produced by the same industry or broad product group. Intra-industry trade refers to the international trade in differentiated products.。
国际经济学课后答案（word版）
国际经济学课后答案（word版）第三章复习题(1)本国共有1200单位的劳动，能⽣产两种产品：苹果和⾹蕉。
苹果的单位产品劳动投⼊是3，⾹蕉的单位劳动产品投⼊时2。
a.画出本国的⽣产可能性边界。
b.⽤⾹蕉衡量的苹果的机会成本是多少？c.贸易前，苹果对⾹蕉的相对价格是多少？为什么？答：a.本国的⽣产可能性边界曲线是⼀条直线，在400（1200/3)处与苹果轴相截，在600（1200/2）处与⾹蕉轴相截，如图2-7所⽰。
b.⽤⾹蕉衡量苹果的机会成本是3/2。
⽣产1单位苹果需要3单位的劳动，⽣产1单位⾹蕉需要2单位的劳动。
如果放弃1单位苹果的⽣产，这将释放出3单位的劳动。
这2单位的劳动可以被⽤来⽣产3/2单位的⾹蕉。
c.劳动的流动性可以使得各个部门的⼯资趋同，竞争可以使得商品的价格等于它们的⽣产成本。
这样，相对价格等于相对成本，⽽相对成本等于⼯资乘以苹果的单位劳动产品投⼊。
因为各个部门⼯资相等，所以价格⽐率等于单位产品劳动投⼊的⽐率，即⽣产苹果所需的3单位劳动与⽣产⾹蕉所需的2单位劳动⽐率。
（2）假设本国的情况和习题1相同。
外国拥有800单位的劳动，外国苹果的单位劳动投⼊是5，⾹蕉的单位产品劳动投⼊是1。
a.画出外国的⽣产可能性边界。
b.画出世界相对供给曲线。
答：a.外国的⽣产可能性边界曲线是⼀条直线，在160（800/5）处与苹果轴相截，在 800(800/1)处与⾹蕉轴相截。
如图2-8所⽰。
b.世界相对供给曲线可以由苹果和⾹蕉的相对价格和相对供给量绘出。
如图2-9。
从图2-9可以看出，苹果对⾹蕉的最低相对价格是3/2，在这个价格上，苹果的世界相对供给曲线是⽔平的。
在3/2的相对价格上，本国对苹果的最⼤供给量是400，外国对⾹蕉的供给量是800，这时，相对供给量为1/2。
只要相对价格保持在3/2和5之间，相对供给量就不变。
如果相对价格成为5，两个国家都会⽣产苹果，⾹蕉的产量为零。
这时，相对供给曲线是⽔平的。
(完整版)国际经济学课后习题答案
思路：中国的生产可能性曲线为2Y=300-X，大米的机会成本为1/2单位的钢铁，根据福利函数知每一条效用曲线上大米对钢铁的边际替代率为
（1）封闭经济中的福利最大化必在大米的边际替代率与机会成本相等处，即 ，或X=Y处，代入生产可能性曲线得X=Y=100，U0=100*1002=106
3.一个小国和一个大国发生贸易，哪一个国家的福利水平提高的幅度更大一些？画图说明。
思路：一般来说，小国福利水平提高的幅度更大一些。以大国向小国进口为例。从下图中可以看出虽然贸易后的价格均为PW,但是大国价格变动幅度小于小国,所以大国福利仅提高ABE，而小国福利提高A’B’E’。大国原来福利水平为OMEN，福利提高幅度为ABE/OMEN，而小国福利原来水平为O’M’E’N’，福利提高幅度为A’B’E’/O’M’E’N’，显然小国的福利水平提高幅度要比大国大。
（3）如果各国按照比较优势生产和出口，加拿大进口小麦出口计算机，中国进口计算机出口小麦。
加拿大进口一单位小麦需要出口1/22单位计算机，折合成劳动时间来算，生产一单位小麦本国要用3小时，但生产1/22单位计算机本国要用60/22小时劳动，所以加拿大进口一单位小麦相当于用60/22小时的劳动换回本国3小时生产的产品，节省了3-60/22=3/11小时的劳动时间。中国进口一单位计算机需要出口22单位小麦，相当于用22*4=88小时的劳动换回本国需用100小时生产的产品，节省了100-88=12小时的劳动时间。
生产者利润减少a=1/2*(1400+1600)*10000=1.5*107
社会福利增加b=(a+b)-a=2*106
6.假设A、B两国生产技术相同且在短期内不变：生产一单位衣服需要的资本为1，需要的劳动为3；生产一单位食品需要的资本为2，需要的劳动为2。A国拥有160单位劳动和100单位资本；B国拥有120单位劳动和80单位资本。则
国际：第七章(第二版)
国际经济学
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三、对外贸易的国家垄断
进口和出口国家垄断， 进口和出口国家垄断，是指在 对外贸易中， 对外贸易中，对某些或全部商品的 出口规定由国家机构直接经营， 进、出口规定由国家机构直接经营， 或者是把某些商品的进口或出口的 专营权给予某些垄断组织。 专营权给予某些垄断组织。
国际经济学
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三、对外贸易的国家垄断
国际经济学
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二、歧视性公共采购
岐视性政府采购政策是指国家 制定法令， 制定法令，规定政府机构在采购时 要优先购买本国产品的做法。 要优先购买本国产品的做法。
国际经济学
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二、歧视性公共采购
美国从1933年开始实行、 美国从1933年开始实行、并于 1933年开始实行 1954年和1962年两次修改的 年和1962年两次修改的《 1954年和1962年两次修改的《购买 美国货法案》就是一例。它规定： 美国货法案》就是一例。它规定： 凡是美国联邦政府所要采购的货物， 凡是美国联邦政府所要采购的货物， 应该是美国制造的， 应该是美国制造的，或是美国原料 制造的。 制造的。
1.技术标准
资本主义国家对于许多制成品 规定了极为严格、繁琐的技术标准。 进口货必须符合这些标准才能进口， 其中有些规定往往是针对某些国家 的。 例如，德国针对菲亚特500型汽 例如 车；法国针对英、美的糖果；英、 日间汽车争端。
国际经济学 14
2.卫生检疫规定
随着资本主义贸易战的加剧， 发达资本主义国家更加广泛地利用 卫生检疫的规定限制商品的进口， 要求卫生检疫的商品越来越多，卫 生检疫规定越来越严。
国际经济学 27
5-5.答案提示
到现在，东亚电子产业的国际分工 体系中，以美国、日本、欧洲为主 的跨国企业支配着核心零部件的研 制、开发、装配以及产品的销售； 韩国、新加坡、中国台湾本地出现 了大量品牌制造商，具有较强的竞 争优势；
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Ch a p t e r 7I n t e r n a t i o n a l F a c t o r Mo v e me n t sMultiple Choice Questions1.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 lendingAnswer: B2.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: D3.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: E4.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 capitalabundant country.(c)workers in the labor abundant country would have no desire to migrate to thecapital abundant country.(d)workers in the capital abundant country would wish to migrate to the laborabundant country.(e)workers in the capital abundant country would migrate to the labor abundant country.Answer: C5.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: C6.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: B7.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: C8. 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: A9. 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 bya foreign company.(d)is a U.S. company whose major markets are outside the United States.(e)None of the above.Answer: C10.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: D11.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 aboveAnswer: C12. The home location of mo st 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: A13.Which of the following best refers to the outright construction or purchase abroad ofproductive 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: A14.Most direct investment in the United States has come from(a)Japan.(b)Canada.(c)Western Europe.(d)South America.(e)Asia.Answer: C15.Most U.S. direct foreign investment occurs in(a)communications.(b)agriculture.(c)petroleum.(d)manufacturing.(e)None of the above.Answer: D16.Most foreign direct investment in the United States occurs in(a)communications.(b)agriculture.(c)petroleum.(d)manufacturing.(e)None of the above.Answer: D17.Multinational corporations may provide benefits to their home countries for thefollowing 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 notenjoy a stable or deep market internationally(d)Shift home country technology overseas via licensing(e)None of the above.Answer: D18.Trade analysis involving multinational corporations differs from our conventional tradeanalysis 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: B19.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: A20.Which of the following could logically explain why foreign direct investment mightbe 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: B21.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: A22.American labor unions have recently maintained that U.S. multinational corporationshave 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: A23.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: D24.___________ refers to highly educated and skilled people who migrate from poordeveloping countries to wealthy industrial countries.(a)Direct investment(b)Portfolio investment(c)Transfer pricing(d)Brain drain(e)None of the above.Answer: D25.International labor mobility(a)leads to wage convergence by raising wages in destination country and lowering in sourcecountry.(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 destinationcountry.(e)is in accordance with scale economy model.Answer: D26.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: C27.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: D28.If one observes that Japan was traditionally a net foreign lender, one could concludethat 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: C29.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: B30.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: C31.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)allAnswer: C32.The shift of labor-intensive assembly operations from the United States toMexican 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: A33.When comparing the United States to the United Kingdom, between 1985 and 1990, therelative 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: C34.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’ s Chrysler corporation is generally35.The purchase by Germany’ s Daimler-Benz of Americaviewed 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 ofChrysler.(c) a major success story of globalization.(d)an example of international vertical integration.(e)None of the above.Answer: E36.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: D37.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: DEssay Questions1.The Heckscher-Ohlin model is famous for being elegant and mathematically sophisticated, yetfailing to describe reality. One manifestation of this fact is Trefler ’ s Case of Missing Explain what exactly is missing. In what sense is it missing? How would you explain why it ismissing? How can a relaxation of the identical production functions explain the case of themissing trade?Answer: Trefler demonstrated that the actual volume of world trade is significantly less thanthat which would be predicted by the Heckscher-Ohlin model. One explanation isthatNorth-South trade is especially less than would be predicted by a factor proportions model. Iftechnologies differ in the poorer countries, then it is possible that the cost ofproducing a product, which uses relatively much of their abundant factor may stillbe 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 landis relatively scarce and expensive. Suppose factor-intensity reversals were common. How wouldthat affect the conclusion that a country in which land is relatively scarce will notbe the country witha 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 factorintensity (at all or any relative wage level). Therefore, the Heckscher-OhlinTheorem is ipso-facto inapplicable.3.Why is it that North-South trade in manufactures seems to be consistent with the results orexpectations 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 thepattern (though not the volume) of trade between these two groups of countries.However, the North North trade partners do not vary significantly in their relativefactor availabilities, so that other forces, such as scale economies play a relativelylarge role in determining trade patterns.4.One of the commonly used assumptions in deriving the Heckscher-Ohlin model is that tastesare homothetic, or that if the per capita incomes were the same in two countries, theproportions of their expenditures allocated to each product would be the same as it is in theother 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 theimported 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 ofrejecting the Heckscher-Ohlin Theorem in actual trade data. The engine driving theH-O model is that a country should be expected to have a relatively low cost ofproducing the good in which it has a comparative advantage. However, the respectivedemand forces would tend to raise the price of this good, so that the expected patternwould not generally be observed. However, if the tastes were biased in favor of theimported good, then the predictions of the Heckscher-Ohlin Theorem would beexpected to be generally observed.5.Why do you suppose that South-South trade does not conform in volume, but does conformin 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 volumehowever is quite lower than what would be expected from the Neoclassical model.There are many possible reasons, such as financial crises necessitating premia in thefinancing of this trade.6.It has been argued that even if intra-European Union labor mobility were to be completelyremoved, one should not expect to observe massive, or even large reallocations of populations with the E.U. DiscussAnswer: Theoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) is associated with factor price equalization; sodoes completely free labor mobility. It therefore follows that if intra E.U. tradeflourishes, as any restraints on trade there are abolished, the economic incentive forlabor mobility will be removed. Since language and cultural differences remain, wewould expect populations to tend to stay where they are.Quantitative/Graphing Problems1.In Home and Foreign there are two factors of production, land and labor, used to produceonly 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 Marginal ProductEmployed of Last Worker13022932842752662572482392210211120Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find theeffect of free movement of labor from the high wage to the low wage country. When sucheconomic 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 theloss 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 immigrationcountry. Landlord incomes will rise in the immigration country and fall in theemigration country.2.Suppose Australia, a land (K)-abundant country and Sri-Lanka, a labor(L)-abundant countryboth 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 countrycreates an incentive for labor migration. From which country to which country will be themigration? 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 establishedin 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 domesticprices are equalized.e the diagram below derived from Figure 4-4 to identify the pre-trade situation for Australiaand 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.ing the figure above from question 3, demonstrate what happens to the composition ofproduction (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 relativeincome 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 aresult of trade. Land Owners in Australia should lobby in favor of trade. They wouldalso lobby for free labor mobility (of workers into Australia), since the marginalproduct of labor is high, the owners of land have much (Ricardian) rents to gainfrom an inflow of workers.5.Imagine that the relative capital abundance of Australia was so much greater than that ofSri-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 relativewages 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 formigration from the latter to the former country.。