国际经济学双语习题

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《国际经济学》(双语)试卷1参考答案

《国际经济学》（双语）试卷1参考答案Ⅰ. Explain the following terms (30 points, 3 points/term)parative advantage:A country has a comparative advantage in producing a good if the opportunity cost of producing that good in terms of other goods is lower in that country than it is in other countries(3 points).2.Specific factors model: It assumes an economy that produces two goods and the labor is a mobile factor that can move between sectors, other factors are assumed to be specific, that is, they can be used only in the production of particular goods(3 points).3．Heckscher-Ohlin theory: it is also referred to as the factor-proportions theory, the theory emphasizes the interplay between the proportions in which different factors of production are available in different countries and the proportions in which they are used in producing different goods(3 points).4.Leontief paradox: the United States would be an exporter of capital-intensive goods and an importer of labor-intensive goods. Surprisingly, however, this was not the case, the economist Leontief found that U.S. exports were less capital-intensive than U.S. imports. This result is known as the Leontief paradox. It is the single biggest piece of evidence against the factor-proportions theory(3 points).5.Official international reserves: Official international reserves are foreign assets held by central banks as a cushion against national economic misfortune. At one time official reserves consisted largely of gold, but today central banks' reserves include substantial foreign financial assets, particularly U.S. dollar assets such as Treasury bills(3 points).6.The official settlements balance: the official settlements balance or the balance of payments. This balance is the sum of the current account balance, the capital account balance, the nonreserve portion of the financial account balance, and the statistical discrepancy, and it indicates the payments gap that official reserve transactions need to cover(3 points).7.Foreign exchange option: A foreign exchange option gives its owner the right to buy or sell a specified amount of foreign currency at a specified price at any time up to a specified expiration date. The other party to the deal, the option's seller, is required to sell or buy the foreign currency at the discretion of the option's owner, who is under no obligation to exercise his right(3 points).8.Interest parity condition: The condition that the expected returns on deposits of any twocurrencies are equal when measured in the same currency is called the interestparity condition. It implies that potential holders of foreign currency deposits view them all as equally desirable assets.9.Fisher effect: This long-run relationship between inflation and interest rates is called the Fisher effect. Fisher effect tells us that all else equal, a rise in a country's expected inflation rate will eventually cause an equal rise in the interest rate that deposits of its currency offer. Similarly, a fall in the expected inflation rate will eventually cause a fall in the interest rate(3 points).10.Long run analysis: The long run analysis of an economic event allows for the complete adjustment of the price level (which may take a long time) and for full employment of all factors of production(3 points).II. Single-Choice Questions（15 points, 1.5points/Question）1. b2. d3. c4. a5. b6. a7. d8. a9. c 10. aⅢ.Questions and problems（40 points, 8 points/Question）1.What are the three types of international transaction recorded in the balance of payments(8 points)?Answer: the three types of international transactions are current account, financial account and capital account(3 points). Transactions that involve the export or import of goods or services and therefore enter directly into the current account. Transactions that involve the purchase or sale of financial assets. An asset is any one of the forms in which wealth can be held, such as money, stocks, factories, or government debt. The financial account of the balance of payments records all international purchases or sales of financial assets. Certain other activities resulting in transfers of wealth between countries are recorded in the capital account(5 points).2. In the United States where land is cheap, the ratio of land to labor used in cattle rising is higher than that of land used in wheat growing. But in more crowded countries, where land is expensive and labor is cheap, it is common to raise cows by using less land and more labor than Americans use to grow wheat. Can we still say that raising cattle is land intensive compared with farming wheat? Why or why not(8 points)?Answer: The definition of cattle growing as land intensive depends on the ratio of land to labor used in production, not on the ratio of land or labor to output(3 points). The ratio of land to labor in cattle exceeds the ratio in wheat in the United States, implying cattle is land intensive in the United States. Cattle is land intensive in other countries too if the ratio of land to labor in cattle production exceeds the ratio in wheat production in that country. The comparison between another country and the United States is less relevant for answering the question(5 points).3. Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium $/£ exchange rate and its expected future level? Suppose the expected future $/£ exchange rate, $1.52 per pound, remains constant as Britain's interest rate rises to 10 percent per year. If the U.S. interest rate also remains constant, what is the new equilibrium$/£ exchange rate(8 points)?Answer: The current equilibrium exchange rate must equal its expected future level since, with equality of nominal interest rates, there can be no expected increase or decrease in the dollar/pound exchange rate in equilibrium(3 points). If the expected exchange rate remains at $1.52 per pound and the pound interest rate rises to 10 percent, then interest parity is satisfied only if the current exchange rate changes such that there is an expected appreciation of the dollar equal to 5 percent. This will occur when the exchange rate rises to $1.60 per pound (a depreciation of the dollar against the pound) (5 points).4. What are the real exchange rate and nominal exchange rate, and their differences(8 points)?Answer: the real exchange rate is the relative price of two output baskets, nominal exchange rate is the relative price of two currencies(3 points).The real exchange rate between two countries' currencies is a broad summary measure of the prices of one country's goods and services relative to the other's. the prediction of PPP is that real exchange rates never change, at least not permanently. Real exchange rates are defined, however, in terms of nominal exchange rates and price levels(5 points).5:Give a example to explain foreign exchange swap(8 points).Answer: foreign exchange swap is a spot sale of a currency combined with a forward repurchase of the currency(3 points). For example, a multinational company has just received $1 million from sales and knows it will have to pay those dollars to a California supplier in three months. The company's asset-management department would meanwhile like to invest the $1 million in Swiss francs. A three-month swap of dollars into Swiss francs may result in lower brokers' fees than the two separate transactions of selling dollars for spot Swiss francs and selling the Swiss francs for dollars on the forward market(5 points).Ⅳ.An economy can produce good 1 using labor and capital and good 2 using labor and land. The total supply of labor is 100 units.The marginal product of labor production are70 0.69 0.49 800.66 0.46 900.63 0.43 1000.60 0.40Questions: a. Suppose that the price of good 2 relative to that of good 1 is 2. Determine graphically the wage rate and the allocation of labor between the two sectors (5 points).b. Suppose that the relative price of good 2 falls to 1. Determine the wage rate and the allocation of labor between the two sectors (5 points).c. Calculate the effects of the price change on the income of the specific factors in sectors 1 and 2(5 points).Answer: a. With the assumption that labor is freely mobile between sectors, it will move from the low-wage sector to the high-wage sector until wages are equalized. So in equilibrium, the wage rate is equal to the value of labor ’s marginal product.2/122211=⨯=⨯P P P MPL P MPLThe abscissa of point of intersection illustrated above should be at L1=30. The labor allocation between the sectors is L1=30 and L2=70. The wage rate is 0.98(5 points). b. The relative decline in the price of good 2 caused labor to be reallocated: labor is drawn out of production of good 2 and enters production of good 1 (Ｌ1=60, L2=40). And the wage rate is equal to 0.74(5 points).c. With the relative price change from P2/P1=2 to P2/P1=1, the price of good 2 has fallen by 50 percent, while the price of good 1 has stayed the same. Wages have fallen too, but by less than the fall in P2 (wages fell approximately 25 percent). Thus, the real wage relative to P2 actually rises while real wage relative to P1 falls. Hence, to determine the welfare consequence for workers, the information about their consumption shares of good 1 and good 2 is needed(5 points).。

国际经济学(外语)习题9.doc

Chapter 9 - International Mobility of Productive FactorsObjective Questions1.Incoming direct foreign investment in a new plant in the U.S. is likely to(a)hurt the U.S. balance of payments on the capital account.(b)lower the earnings of American workers.(c)increase the rate of return to capital employed in the U.S.(d)none of the above.2.Which of the following affects the relative investment climate between two countries?(a)the general level of economic activity.(b)tax and tariff policies.(c)general institutional arrangements.(d)all of the above.3.Current U.S. tax law(a)credits in full taxes paid to foreign governments to the maximum rate of U.S. corporatetaxation.(b)allows firms to deduct foreign taxes as costs.(c)does not allow firms either cost deductions or tax credits.(d)allows firms to credit half of the foreign taxes paid.4.The international movement of investment capital is likely to(a)decrease world welfare by lowering exports.(b)increase world welfare by assisting in a more efficient distribution of factors.(c)reduce world welfare by causing bankruptcies in host countries.(d)reduce world welfare by circumventing tariff barriers.5.Total U.S. overseas foreign investment in 1994 was book valued at about(a) $450 million.(b) $600 billion.(c) $4.5 trillion.(d) $450 trillion.6.From the point of view of the national interest foreign investment will be beneficial only if(a)net-of-tax returns abroad exceed net-of-tax returns at home.(b)gross returns abroad exceed net-of-tax returns at home.(c)net-of-tax returns abroad exceed gross returns at home.(d)gross returns abroad exceed gross returns at home.7.From the point of view of the private firm foreign investment will be profitable only if(a)net-of-tax returns abroad exceed net-of-tax returns at home.(b)gross returns abroad exceed net-of-tax returns at home.(c)net-of-tax returns abroad exceed gross returns at home.(d)gross returns abroad exceed gross returns at home.8.From the point of view of the world as a whole foreign investment will increase welfare only if(a)net-of-tax returns abroad exceed net-of^tax returns at home.(b)gross returns abroad exceed net-of-tax returns at home.(c)net-of-tax returns abroad exceed gross returns at home.(d)gross returns abroad exceed gross returns at home.9.The phenomenon of transfer pricing occurs when(a)there are bilateral trade flows.(b)there is extensive use of bartering.(c)goods are sold between subsidiaries of MNCs.(d) a nation uses multiple exchange rate schemes.10.In general the impact of incoming direct investment on the host country's welfare will be(a)negative because the return to labor will be lowered.(b)positive because it results in cheaper labor.(c)positive because it raises labor productivity.(d)negative because it raises the return to capital.11.Japanese direct foreign investment in the U.S. in 1991 was(a)the largest of any nation.(b)greater than that of all other nations combined.(c)exceeded only by that of the U.K.(d)actually less than that of ten other nations.12.Which of the following statements is most justified?(a)The international movement of capital is beneficial to world welfare; labor movementnever is.(b)International labor mobility is always beneficial to world welfare; capital mobility never is.(c)Neither capital nor labor movements ever contribute to raising world welfare.(d)Labor mobility generally raises world welfare; an exception may be when labor movementleads to the loss of substantial externalities.13.The effect of outgoing direct foreign investment on the welfare of the source country is likely to be(a)positive since total investment is raised.(b)positive since it raises the income of domestic labor.(c)negative because it lowers domestic investment and harms labor productivity.(d)positive since it increases tax flows to the government.14.The largest investor in the U.S. market is(a) France.(b) Japan.(c) Germany.(d) theU.K.15.Industrial nations engage in DFI to reduce production costs by(a)gaining access to raw materials.(b)circumventing protectionist barriers.(c)gaining access to low cost labor.(d)all of the above.16.Over time, a country that opens itself up to the global economy will(a)experience a net loss of jobs.(b)tend to experience higher annual growth rates.(c)attract less direct foreign investments.(d lower its living standards.17.When a balanced view is taken, global outsourcing by U.S. companies(a)results in a net loss of jobs.(b)discourages spending on technology upgrading.(c)reduces competitiveness of firms engaged in outsourcing.(d)creates benefits for the U.S.18.Global outsourcing(a)is a threat to living standards.(b)is an extension of the principle of comparative advantage.(c)entails more costs than benefits.(d)counters the process of globalization.。

国际经济学双语习题3说课材料

国际经济学双语习题3International Economics, 8e (Krugman)Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model3.1The Concept of Comparative Advantage1) Trade between two countries can benefit both countries ifA) each country exports that good in which it has a comparative advantage.B) each country enjoys superior terms of trade.C) each country has a more elastic demand for the imported goods.D) each country has a more elastic supply for the exported goods.E) Both C and D.Answe r:AQuestionPrevious EditionStatus:2) In order to know whether a country has a comparativeadvantage in the production of one particular product we need information on at least ________ unit laborrequirementsoneA)twoB)threeC)fourD)fiveE)AnsweDr:Previous EditionQuestionStatus:3) A country engaging in trade according to the principles ofcomparative advantage gains from trade because it is producing exports indirectly more efficiently than itA)could alternatively.is producing imports indirectly more efficiently than itB)could domestically.is producing exports using fewer labor units.C)is producing imports indirectly using fewer labor units.D)None of the above.E)BAnswer:Previous EditionQuestionStatus:4) Given the information in the table above, if it isascertained that Foreign uses prison-slave labor to produce its exports, then home shouldexport cloth.A)export widgets.B)export both and import nothing.C)export and import nothing.D)E)All of the above.AAnswer:QuestionPrevious EditionStatus:5) Given the information in the table above, if the Homeeconomy suffered a meltdown, and the Unit Labor Requirements doubled to 30 for cloth and 60 for widgets then home shouldA)export cloth.export widgets.B)C)export both and import nothing.export and import nothing.D)All of the above.E)AAnswer:Previous EditionQuestionStatus:6) The earliest statement of the principle of comparativeadvantage is associated withDavid Hume.A)B)David Ricardo.Adam Smith.C)D)Eli Heckscher.Bertil Ohlin.E)BAnswer:QuestionPrevious EditionStatus:7) The Gains from Trade associated with the principle ofComparative Advantage depends onA)the trade partners must differ in technology or tastes.there can be no more goods traded than the number ofB)trade partners.there may be no more trade partners than goods traded.C)D)All of the above.None of the above.E)Answe r:AQuestionPrevious EditionStatus:8) The Ricardian model demonstrates thattrade between two countries will benefit both countries.A)trade between two countries may benefit both regardlessB)of which good each exports.trade between two countries may benefit both if eachC)exports the product in which it has a comparativeadvantage.trade between two countries may benefit one but harm theD)other.None of the above.E)CAnswer:NewQuestionStatus:3.2A One-Factor Economy1) Given the following information:(a) What is the marginal cost of a toy in each country?(b) How might you demonstrate (quantitatively) that acountry with absolute productivity advantage in a productmay find that its production is more costly than in theother (unproductive) country?(c) Demonstrate the fact that trade produces imports(indirectly) cheaper, even in the relatively unproductivecountry.Answer:(a) 3 units of Soy in the U.S., and 1 Soy unit inCroatia.(b) The U.S. have absolute productivity advantage intoys. Nevertheless, toys are three times more costlythan they are in Croatia.(c) In Croatia, one unit of soy will cost one toy.However, if the terms of trade fall between the twoautarkic price ratios (a condition necessary for bothcountries to enjoy gains from trade), say at 2 Soy unitsper toy, then Croatia will gain each Soy unit with lessof a sacrifice of toy production.QuestionStatus:Previous Edition3.3Trade in a One-Factor World1) Given the information in the table aboveneither country has a comparative advantage.A)Home has a comparative advantage in cloth.B)Foreign has a comparative advantage in cloth.C)Home has a comparative advantage in widgets.D)Home has a comparative advantage in both products.E)AnsweBr:Previous EditionQuestionStatus:2) Given the information in the table above, if wages were todouble in Home, then Home shouldA)export cloth.export widgets.B)export both and import nothing.C)export and import nothing.D)All of the above.E)AAnswer:Previous EditionQuestionStatus:3) Given the information in the table aboveneither country has a comparative advantage.A)Home has a comparative advantage in cloth.B)Foreign has a comparative advantage in cloth.C)Foreign has a comparative advantage in widgets.D)Home has a comparative advantage in both products.E)CAnswer:QuestionPrevious EditionStatus:4) Given the information in the table above, the opportunitycost of cloth in terms of widgets in Foreign is if it is ascertained that Foreign uses prison-slave labor to produce its exports, then home shouldexport cloth.A)export widgets.B)export both and import nothing.C)D)export and import nothing.All of the above.E)BAnswer:QuestionPrevious EditionStatus:5) Given the information in the table above, if wages were todouble in Home, then Home shouldexport cloth.A)B)export widgets.export both and import nothing.C)export and import nothing.D)All of the above.E)BAnswer:QuestionPrevious EditionStatus:6) Given the information in the table above, if the worldequilibrium price of widgets were 4 Cloths, thenA)both countries could benefit from trade with each other.neither country could benefit from trade with each other.B)each country will want to export the good in which itC)enjoys comparative advantage.neither country will want to export the good in which itD)enjoys comparative advantage.both countries will want to specialize in cloth.E)AnsweAr:Previous EditionQuestionStatus:7) Given the information in the table above, if the worldequilibrium price of widgets were 40 cloths, thenboth countries could benefit from trade with each other.A)neither country could benefit from trade with each other.B)C)each country will want to export the good in which itenjoys comparative advantage.neither country will want to export the good in which itD)enjoys comparative advantage.both countries will want to specialize in cloth.E)AnsweAr:QuestionPrevious EditionStatus:8) In a two product two country world, international trade canlead to increases inconsumer welfare only if output of both products isA)increased.output of both products and consumer welfare in bothB)countries.total production of both products but not consumerC)welfare in both countries.consumer welfare in both countries but not totalD)production of both products.E)None of the above.BAnswer:Previous EditionQuestionStatus:9) As a result of trade, specialization in the Ricardian modeltends to becomplete with constant costs and with increasing costs.A)complete with constant costs and incomplete withB)increasing costs.incomplete with constant costs and complete withC)increasing costs.incomplete with constant costs and incomplete withD)increasing costs.E)None of the above.BAnswer:Previous EditionQuestionStatus:10) As a result of trade between two countries which are ofcompletely different economic sizes, specialization in the Ricardian 2X2 model tends to beA)incomplete in both countriescomplete in both countriesB)complete in the small country but incomplete in the largeC)countrycomplete in the large country but incomplete in the smallD)countryNone of the above.E)CAnswer:Previous EditionQuestionStatus:11) A nation engaging in trade according to the Ricardian modelwill find its consumption bundleA)inside its production possibilities frontier.on its production possibilities frontier.B)outside its production possibilities frontier.C)inside its trade-partner's production possibilitiesD)frontier.on its trade-partner's production possibilities frontier.E)CAnswer:Previous EditionQuestionStatus:12) In the Ricardian model, if a country's trade is restricted,this will cause all except which?limit specialization and the division of laborA)reduce the volume of trade and the gains from tradeB)cause nations to produce inside their productionC)possibilities curvesmay result in a country producing some of the product ofD)its comparative disadvantageNone of the above.E)AnsweCr:Previous Edition QuestionStatus:13) If a very small country trades with a very large countryaccording to the Ricardian model, thenthe small country will suffer a decrease in economicA)welfare.the large country will suffer a decrease in economicB)welfare.the small country only will enjoy gains from trade.C)the large country will enjoy gains from trade.D)None of the above.E)CAnswer:Previous EditionQuestionStatus:14) If the world terms of trade for a country are somewherebetween the domestic cost ratio of H and that of F, then country H but not country F will gain from trade.A)country H and country F will both gain from trade.B)neither country H nor F will gain from trade.C)only the country whose government subsidizes its exportsD)will gain.None of the above.E)AnsweBr:Previous EditionQuestionStatus:15) If the world terms of trade equal those of country F, thencountry H but not country F will gain from trade.A)country H and country F will both gain from trade.B)neither country H nor F will gain from trade.C)only the country whose government subsidizes its exportsD)will gain.None of the above.E)AnsweAr:Previous EditionQuestionStatus:16) If the world terms of trade equal those of country H, thencountry H but not country F will gain from trade.A)country H and country F will both gain from trade.B)neither country H nor F will gain from trade.C)only the country whose government subsidizes its exportsD)will gain.None of the above.E)EAnswer:Previous EditionQuestionStatus:17) According to Ricardo, a country will have a comparativeadvantage in the product in which itslabor productivity is relatively low.A)labor productivity is relatively high.B)labor mobility is relatively low.C)D)labor mobility is relatively high.None of the above.E)BAnswer:Previous EditionQuestionStatus:18) Assume that labor is the only factor of production and thatwages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan ifU.S. labor productivity equaled 40 units per hour andA)Japan's 15 units per hour.U.S. productivity equaled 30 units per hour whereasB)Japan's was 20.C)U.S. labor productivity equaled 20 and Japan's 30.U.S. labor productivity equaled 15 and Japan's 25 unitsD)per hour.E)None of the above.AAnswer:Previous EditionQuestionStatus:19) If two countries engage in Free Trade following theprinciples of comparative advantage, thenneither relative prices nor relative marginal costsA)(marginal rates of transformation-MRTs) in one countrywill equal those in the other country.B)both relative prices and MRTs will become equal in bothcountries.relative prices but not MRTs will become equal in bothC)countries.MRTs but not relative prices will become equal in bothD)countries.None of the above.E)CAnswer:QuestionPrevious EditionStatus:20) Let us define the real wage as the purchasing power of onehour of labor. In the Ricardian 2X2 model, if two countries under autarky engage in trade thenthe real wage will not be affected since this is aA)financial variable.the real wage will increase only if a country attainsB)full specialization.the real wage will increase in one country only if itC)decreases in the other.D)the real wage will rise in both countries.None of the above.E)DAnswer:QuestionPrevious EditionStatus:21) In a two country and two product Ricardian model, a smallcountry is likely to benefit more than the large countrybecausethe large country will wield greater political power, andA)hence will not yield to market signals.the small country is less likely to trade at price equalB)or close to its autarkic (domestic) relative prices.the small country is more likely to fully specialize.C)the small country is less likely to fully specialize.D)None of the above.E)AnsweBr:QuestionNewStatus:22) In the Ricardian model, comparative advantage is not likelybe due toscale economies.A)home product taste bias.B)greater capital availability per worker.C)All of the above.D)None of the above.E)AnsweDr:QuestionNewStatus:23) An examination of the Ricardian model of comparativeadvantage yields the clear result that trade is (potentially) beneficial for each of the two trading partners since itallows for an expanded consumption choice for each. However, for the world as a whole the expansion of production of one product must involve a decrease in the availability of theother, so that it is not clear that trade is better for the world as a whole as compared to an initial situation of non-trade (but efficient production in each country). Are there in fact gains from trade for the world as a whole? Explain.Answe r: If we were to combine the production possibilityfrontiers of the two countries to create a single world production possibility frontier, then it is true thatany change in production points (from autarky to specialization with trade) would involve a tradeoff of one good for another from the world's perspective. In other words, the new solution cannot possibly involvethe production of more of both goods. However, since we know that each country is better off at the new solution, it must be true that the original points were not on the trade contract curve between the two countries, and it was in fact possible to make some people better off without making others worse off, so that the newsolution does indeed represent a welfare improvementfrom the world's perspective.QuestionStatus:Previous Edition24) It is generally claimed that a movement from autarky to freetrade consistent with Ricardian comparative advantageincreases the economic welfare of each of the trade partners.However, it may be demonstrated that under certaincircumstances, not everyone in each country is made betteroff. Illustrate such a case.Answe r: (a) If inter-generational, or economic growth considerations are taken into account, then a country may end up specializing in a good that has no or few growth linkages with the rest of the economy (e.g. an "enclave" sector).(b) If some of the residents of a country have tastes biased toward their exportable, then they may suffer due to the trade-affected increase in the market price of the exportable good.QuestionStatus:Previous Edition25) It is generally claimed that state trading, or centrallycontrolled trading will tend to reach a lower economicwelfare than would be reached by allowing market forces to determine trade flow directions and terms of trade.Illustrate a counter-example to this proposition.Answe r: In general, if we begin with any suboptimal distortion, the theory of the second best tells us that anadditional "distortion" may move a country in thecorrect direction of a welfare improvement. For example, If a country has an overvalued exchange rate (that is, its currency is overpriced in the foreign exchange markets), it is possible that it will find itself in an autarkic equilibrium (that is, it might "overpriceitself out of the international market"). In such a case it is easy to demonstrate that if the government exports the goods in which the country enjoys comparative advantage, and imports the other (bypassing market prices and mechanisms), the country's economic welfare will improve.Question Status:Previous Edition26) The Ricardian proposition that international trade willbenefit any country ("gains from trade") as long as theworld terms of trade do not equal its autarkic relativeprices is a straightforward and powerful concept.Nevertheless, it is impossible to demonstrate empirically.Why?Answe r: This is because there is no way of knowing exactly what are, or would have been, the autarky MRTs or MRSs. Thisis because there is no single example in the world of a country that is totally unengaged in international trade.QuestionStatus:Previous Edition27) Given the information in the table above. What is theopportunity cost of Cloth in terms of Widgets in Foreign?One half a widget.Answer:Previous EditionQuestionStatus:28) Given the information in the table above. If these twocountries trade these two goods in the context of theRicardian model of comparative advantage, then what is thelower limit of the world equilibrium price of widgets?Answe1/2 Cloths.r:Previous EditionQuestionStatus:29) Given the information in the table above. If these twocountries trade these two goods with each other in contextof the Ricardian model of comparative advantage, what is the lower limit for the price of cloth?AnsweOne half a widget.r:Previous EditionQuestionStatus:30) Given the information in the table above. What is theopportunity cost of cloth in terms of Widgets in Foreign?2 widgets.Answer:Previous EditionQuestionStatus:3.4Mi sconceptions About Comparative Advantage1) If a production possibilities frontier is bowed out (concaveto the origin), then production occurs under conditions of constant opportunity costs.A)increasing opportunity costs.B)decreasing opportunity costs.C)infinite opportunity costs.D)E)None of the above.BAnswer:QuestionPrevious EditionStatus:2) If the production possibilities frontier of one the tradepartners ("Country A") is bowed out (concave to the origin), then increased specialization in production by that country willincrease the economic welfare of both countries.A)increase the economic welfare of only Country A.B)decrease the economic welfare of Country A.C)decrease the economic welfare of Country B.D)E)None of the above.AAnswer:QuestionPrevious EditionStatus:3) If two countries have identical production possibilityfrontiers, then trade between them is not likely if their supply curves are identical.A)their cost functions are identical.B)C)their demand conditions are identical.their incomes are identical.D)None of the above.E)EAnswer:Previous EditionQuestionStatus:4) If two countries have identical production possibilityfrontiers, then trade between them is not likely ifA)their supply curves are identical.their cost functions are identical.B)their demand functions differ.C)their incomes are identical.D)None of the above.E)CAnswer:QuestionPrevious EditionStatus:5) If one country's wage level is very high relative to theother's (the relative wage exceeding the relativeproductivity ratios), then if they both use the samecurrencyneither country has a comparative advantage.A)only the low wage country has a comparative advantage.B)only the high wage country has a comparative advantage.C)consumers will still find trade worth while from theirD)perspective.None of the above.E)AnsweEr:Previous EditionQuestionStatus:6) If one country's wage level is very high relative to theother's (the relative wage exceeding the relativeproductivity ratios), thenit is not possible that producers in each will findA)export markets profitable.it is not possible that consumers in both countries willB)enhance their respective welfares through imports.it is not possible that both countries will find gainsC)from trade.it is possible that both will enjoy the conventionalD)gains from trade.E)None of the above.DAnswer:QuestionPrevious EditionStatus:7) If one country's wage level is very high relative to theother's (the relative wage exceeding the relativeproductivity ratios) then it is probable thatfree trade will improve both countries' welfare.A)free trade will result in no trade taking place.B)free trade will result in each country exporting the goodC)in which it enjoys comparative advantage.free trade will result in each country exporting the goodD)in which it suffers the greatest comparative disadvantage.None of the above.E)BAnswer:QuestionPrevious Edition Status:8) In a two-country, two-product world, the statement "Germanyenjoys a comparative advantage over France in autos relative to ships" is equivalent toFrance having a comparative advantage over Germany inA)ships.France having a comparative disadvantage compared toB)Germany in autos and ships.Germany having a comparative advantage over France inC)autos and ships.France having no comparative advantage over Germany.D)None of the above.E)AAnswer:Previous EditionQuestionStatus:9) If the United States' production possibility frontier wasflatter to the widget axis, whereas Germany's was flatter to the butter axis, we know thatthe United States has no comparative advantageA)Germany has a comparative advantage in butter.B)C)the U.S. has a comparative advantage in butter.Not enough information is given.D)None of the above.E)AnsweBr:Previous EditionQuestionStatus:10) Suppose the United States' production possibility frontierwas flatter to the widget axis, whereas Germany's wasflatter to the butter axis. We now learn that the Germanmark sharply depreciates against the U.S. dollar. We nowknow thatA)the United States has no comparative advantageGermany has a comparative advantage in butter.B)the United States has a comparative advantage in butter.C)D)Not enough information is given.None of the above.E)BAnswer:QuestionPrevious EditionStatus:11) Suppose the United states production possibility frontierwas flatter to the widget axis, whereas Germany's wasflatter to the butter axis. We now learn that the Germanwage doubles, but U.S. wages do not change at all. We now know thatthe United States has no comparative advantage.A)Germany has a comparative advantage in butter.B)the United States has a comparative advantage in butter.C)D)Not enough information is given.None of the above.E)BAnswer:QuestionPrevious EditionStatus:12) Which of the following statements is true?Free trade is beneficial only if your country is strongA)enough to stand up to foreign competition.Free trade is beneficial only if your competitor does notB)pay unreasonably low wages.Free trade is beneficial only if both countries haveC)access to the same technology.All of the above.D)None of the above.E)AnsweEr:Previous Edition QuestionStatus:13) Mahatma Ghandi exhorted his followers in India to promoteeconomic welfare by decreasing imports. This approach makes no sense.A)makes no economic sense.B)is consistent with the the Ricardian model of comparativeC)advantage.is not consistent with the Ricardian model of comparativeD)advantage.E)None of the above.DAnswer:Previous EditionQuestionStatus:14) The Country of Rhozundia is blessed with rich copperdeposits. The cost of Copper produced (relative to the cost of Widgets produced) is therefore very low. From thisinformation we know thatA)Rhozundia has a comparative advantage in CopperRhozundia should export Copper and import WidgetsB)Rhozundia should export Widgets and export CopperC)Both A and B are true.D)None of the above.E)EAnswer:QuestionPrevious EditionStatus:15) We know that in antiquity, China exported silk because no-one in any other country knew how to produce this product.From this information we learn thatA)China enjoyed a comparative advantage in silk.China enjoyed an absolute advantage, but not aB)comparative advantage in silk.no comparative advantage exists because technology wasC)not diffused.China should have exported silk even though it had noD)comparative advantage.E)None of the above.AAnswer:Previous EditionQuestionStatus:16) The pauper labor theory, and the exploitation argumentare theoretical weaknesses that limit the applicabilityA)of the Ricardian concept of comparative advantage.are theoretically irrelevant to the Ricardian model, andB)do not limit its logical cogency.are not relevant because the Ricardian model is based onC)the labor theory of value.are not relevant because the Ricardian model allows forD)different technologies in different countries.E)None of the above.BAnswer:NewQuestionStatus:17) If labor productivities were exactly proportional to wagelevels internationally, this wouldnot negate the logical basis for trade in the RicardianA)model.render the Ricardian model theoretically correct butB)practically useless.negate the logical basis for trade in the Ricardian model.C)negate the applicability of the Ricardian model if theD)number of products were greater than the number of。

国际经济学理论与政策__双语各章练习题

Quiz for Chapter 12Ⅰ. Fill the following blanks with the proper word or expression1. Y-( )=CA2、National income equals GNP less ( ),plus ( ),less ( ).3. GNP equals GDP ( ) net receipts of factor income from the rest of the world.4. The national income identity for an open economy is ( ).5. When a country 's exports exceed its imports, we say the country has a current account ( ).6. The current account includes ( )7. Any transaction resulting in a payment to foreigners is entered in the balance of payment account as a ( ).8. In a closed economy, national saving always equals ( ).9.When official reserves increase, this will be recorded in the ( ), with ( )sign.10. When debit is bigger than net decrease of the reserve, the difference will go to the ( ).Ⅱ. True or false1. The balance of payments accounts always balance in practice as they must in theory.( )2. Net unilateral transfers are considered part of the current accounts but not a part of national income .( )3. The GNP a country generates over some time period must equal its national income ,the income earned in that period by its factors of production. ( )4. When you buy a share of Microsoft stock , you are buying neither a good or a service , so your purchase dose not show up in GNP. ( )5. If the government deficit rises and private saving and investment do not change much ,the current account surplus must fall by roughly the same account as the increase in the fiscal deficit. ( )6. We include income on foreign investment in the current account because that income really is compensation for the services provided by foreign investments.( )7. Remember that foreign borrowing may not always be a bad idea :a country that borrows abroad to undertake profitable domestic investment can pay its creditors and still have money left over.( )8. Government agencies including central banks can freely hold foreign reserves and intervene officiallyin exchange market.( )9. When the United States lends abroad, a payment is made to foreigners and the capital account is credited.10. One reason intervention is important is that central banks use it as a way of altering the amount of money in circulation.Ⅲ. Answer the following questions:1.Why account keepers adds the account a statistical discrepancy to the balance of payment?2.The nation of Pecunia had a current account deficit of ＄1 billion and a nonreserve financial account surplusof ＄550 million in 2005.(1)What was the balance of payments of Pecunia in that year? What happened to the country’s net foreignassets?(2)Assume that foreign central banks neither buy nor sell Pecunian assets. How did the Pecunian central bankshad purchased ＄600 million of Pecunian assets in 2005? How would this official intervention show up in the balance of payments accounts?(3)How would your answer to (2) change if you learned that foreign central banks had purchased enter foreignbalance of payments accounts?Ⅳ. Fill the following blanks:China's balance of payment in 2000Quiz for Chapter 13Ⅰ. Fill the following blanks with the proper word or expression1. Changes in exchange rates are described asor .2. Foreign exchange deals sometimes specify a value date farther away than two-days-30 days, 90days, 180 days, or even several years. The exchange rates quoted in such transactions are called3. is the most liquid of assets4. The ease with which the asset can be sold or exchange for goods, we call the character is5. A foreignis a spot sale of a currency combined with a forward repurchase of the currency.6. The foreign exchange market is inwhen deposits of all currencies offer the same expected rate of return.7. The price of one currency in terms of another is called an8. All else equal, ain the expected future exchange rate causes a rise in the current exchange rate.9. is the percentage increase in value, it offers over some time period.10. All else equal, anin the interest paid on deposits of a currency causes that currency to appreciate againstforeign currencies.Ⅱ. True or false1. A rate of appreciation of the dollar against the euro is the rate of depreciation of the euro against dollar.( )2. The exchange rate quoted as the price of foreign currency in terms of domestic currency is called direct quotation. ( )3. all else equal, an appreciation of a country's currency makes its goods cheaper for foreigners. ( )4. The foreign exchange market is in equilibrium when deposits of all currencies offer the same expected rate of return. ( )5. All else equal., When a country's currency depreciated, domestic residents find that imports from abroad are more expensive. ( )6. Central bank is at the center of the foreign exchange market.( )7. A depreciation of the dollar against euro today makes euro deposit less attractive on the condition that expected future dollar/euro rate and interest rates do not change.( )8. all else equal, a decrease of the interest paid on deposit of US dollars causes dollars to appreciate against foreign currency.( )9. New York. is the largest foreign exchange market in the world. ( )10. A fall in the expected future exchange rate causes a fall in the current exchange rate.Ⅲ. Answer the following questions:1. Currently, the spot exchange rate is US$1=SF1.50 and the expected exchange rate for six month is SF1.55. the interest rate is 8% in the US per annum and 10% in the Switzerland per annum. （1）Determine whether interest rate parity is currently holding.（2）If it is not holding, what will happen in the foreign exchange market?.（3）If the expected exchange rate is unchanged, what is the spot rate when foreign exchange rate is inequilibrium?2.Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium ＄/￡exchange rateand its expected future level? Suppose the expected future ＄/￡exchange rate, ＄1.52 per pound, remains constant as Britain’s interest rate rises to 10 percent per year. If the U.S. interest rate also remains constant, what is the new equilibrium ＄/￡exchange rate?Quiz for Chapter 14Ⅰ. Fill the following blanks with the proper word or expression1. M1 includes __________.2. An economy 's money supply is controlled by _________________.3. Three main factors that determine aggregate money demand are4. When money supply equals money demand, we say that the money market is _______________________.5. A rise in the average value of transactions carried out by a household or firm cause its demand for money to.6. is an important phenomenon because it helps explain why exchange rates move so sharply from day to day.7. If the economy is initially at full employment, a permanent increase in the money supply eventually be followed byin the price level.8. Overshooting is a direct consequence of the short-run9. An economy’sis the position it would eventually reach if no new economic shocks occurred during the adjustment to full employment.10. All else equal, a permanent in a country’s money supply causes a proportional long-rundepreciation of its currency against foreign currencies.Ⅱ. True or false1. An increase in real output lowers the interest rate. ( )2. In the short run, a reduction in a country's money supply causes its currency to appreciate in the foreign exchange market. ( )3. All else equal, an increase in a country 's money supply causes a proportional increase in its price level in the long run. ( )3. All else equal, a rise in the interest rate causes the demand for money to fall. ( )4. If there is initially an excess demand of money, the interest rate falls in the short-run. ( )5. A rise in the average value of transactions carried out by a household or firm causes its demand for money to fall. ( )6. Given the price level and out put, an increase in the money supply lowers the interest rate. ( )7. A change in the supply of money has effect on the long-run values of the interest rate or real output. ( )8.The higher the interest rate, the more you sacrifice by holding wealth in the form of money. ( )9. An increase in real output lowers the interest rate, given the price level and the money supply( )10. An economy experiences inflation when its price level is falling. ( )Ⅲ. Answer the following questions:1. What is the short-run effect on the exchange rate when US government increases the money supply? (expectations about future exchange rate are unchanged)2.Please draw a group of pictures to show the time paths of U.S. economic variables after a permanent increase in the U.S. money supply growth rate according to the following:(1)The u.s. decided to increase the money supply growth rate permanently.The vertical axis is money supply and the horizontal axis is time.(2)The interest rate change,. The vertical axis is Dollar interest rate and the horizontal axis is time.(3)The price level change. The vertical axis is U.S price level and the horizontal axis is time.(4)The exchange rate change,. The vertical axis is the Dollar/Euro exchange rate and the horizontal axis is time.Ⅳ. CALCULATIONSuppose that the spot rate is €1 = US$1.2468 －78 and the six-month forward rate is €1 = US$1.2523－33, the interest rate per annum is 4% in the euro zone and 6% in the US. After carrying out interest arbitrage with €5,000,000 borrowed at the above-mentioned rate, please calculate your net interest arbitrage profit ( other costs ignored ).Quiz for Chapter 15Ⅰ. Fill the following blanks with the proper word or expression1. The equation for real interest parity is.2. The long-run relationship between inflation and interest rates is called .3. The equation for absolute PPP is _________________________.4. The equation for relative PPP is _________________________.5. The law of_______________ states that under free competition and in the absence of trade impediments, a good must sell for a single price regardless of where in the world it is sold.6. Equation$/$/()/E US q E P P ∈∈=⨯ shows that at unchanged output prices, nominal depreciation implies real.7. According to Fisher effect, if U.S. inflation were to rise, then U.S. dollar interest rates would_________________.8. _________________is the relative price of two output baskets, while _________________is the relative price of two currencies.9. Transport costs and government trade restrictions make it expensive to move goods between markets located in different countries and therefore weaken the _________________mechanism underlying PPP. 10. refer to those goods and services that can never be traded internationally at a profit.Ⅱ. True or false1. According to monetary approach, a rise in the interest rate on dollar will lead to the depreciation of the dollar in the long run.( )2. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )3. When demand for American products rises, there will be a long-run real depreciation of the dollar. ( )4. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )5. When European output supply increases, there will be an appreciation of the euro. ( )6. Expected real interest rates are the same in different countries when relative PPP is expected to hold. ( )7. Based on the monetary approach, other things equal, a permanent rise in the U.S. money supply causes a proportional long-run appreciation of the dollar against euro. ( )8. At unchanged output prices, nominal depreciation implies real appreciation. ( )9. Departures from PPP may be even greater in the short run than in the long run because many prices in the economy are sticky and take time to adjust fully. ( )10. If all U.S. prices increase by 10% and the dollar depreciates against foreign currencies by 10%, absolute PPP will be satisfied (assuming there are no changes abroad) for any domestic and foreign choices of price level indexes. ( )Ⅲ. Answer the following questions :1. Suppose America’s inflation rate is 6% over one year, but the inflation rate in Italy is 12%. According to relative PPP, what should happen over the year to the dollar ’s exchange rate against the lira?2.How to explain the problems with PPP? Give the reasons.Quiz for Chapter 16Ⅰ. Fill the following blanks with the proper word or expression1. The aggregate demand for an open economy’s output consists of four components:2. The current account balance is determined by two main factors: and3. Equilibrium in the economy as a whole requires equilibrium in theas well as in the4. An temporary increase in the money supply causes aof the domestic currency, of output,and thereforein employment.5. Given a fixed exchange rate, when government demand increases, DD schedule will shift6. A reduction in money demand would shift AA ___________.7. __________ policy works through changes in government spending or taxes.8. If the economy starts at long-run equilibrium, a permanent change in fiscal policy has no net effect on .9. J-curve effects amplify the of exchange rates10. Because a permanent fiscal expansion changes exchange-rate expectations, the effect on output isif the economy stats in long-run equilibrium.Ⅱ. True or false1. If there is a decline in investment demand, the DD schedule will shift to the right. ( )2. The effect of real exchange rate increase on IM is ambiguous. ( )3. A temporary increase in the money supply, which does not alter the long-run expected exchange rate, causes a depreciation of the currency and a rise in output. Temporary fiscal expansion also has the same result. ( )4. Other things equal, a real depreciation of the home currency lowers aggregate demand for home output. ( )5. The DD Schedule shows all exchange rate and output levels at which the outputmarket is in short-run equilibrium. DD Schedule slopes upward. ( )6. A permanent fiscal expansion does not changes exchange-rate expectations. ( )7. Since the effect is the same of that of an increase in G, an increase in T must cause the DD Schedule to shift rightward. ( )8. A rise in R* causes an upward shift of AA. ( )9. Either an increase in the money supply or temporary fiscal ease can be used to maintain full employment. The two polices have no different effects at all. ( )10.If exports and imports adjust gradually to real exchange rate changes, the current account may follow a J-curve pattern after a real currency appreciation, first worsening and then improving. ( )11. The greater the upward shift of the asset market equilibrium schedule, the greater the appreciation of the currency. ( )12. Monetary expansion causes the current account balance to decrease in the short run. ( )13. Expansionary fiscal policy reduces the current account balance. ( )Ⅲ. Answer the following questions:1. A new government is elected and announces that once it is inaugurated, it will increase the money supply. Use the DD-AA model to study the economy’s response to this announcement.2. Please use AA and DD schedules to describe “The adjustment to a permanent increase in the money supply. ” The original point is at full employment.The vertical axis is exchange rate, the horizontal axis is output.3. If an economy does not start out at full employment,is it still true that a permanent change in fiscal policy has no current effect on output? Please use AA and DD schedules to describe it.Quiz for Chapter 17Ⅰ. Fill the following blanks with the proper word or expression1. Any central bank purchase of assets automatically results in an in the domestic money supply.2. The condition of the foreign exchange market equilibrium under a fixed exchange rate is .3. Under a fixed exchange rate, central bankpolicy tools is more effective.4. The expectation of a future devaluation causes ain the home interest rate above the world level.5. The main factor that may lead to imperfect asset substitutability in the foreign exchange market is .6. Between the end of World War II and 1973, was the main reserve currency.7. Under a gold standard, each country fixes the price of its currency in terms of .8. Under a _________, central bank monetary policy tools are powerless to affect the economy’s money supply or its output.9. A system which governments may attempt to moderate exchange rate movements without keeping exchangerates rigidly fixed is____________.10. Half way between the gold standard and a pure reserve currency standard is the __________.Ⅱ. True or false1. Any central bank sale of assets automatically causes the money supply to decline. ( )2. If central banks are not sterilizing and the home country has a balance of payments surplus, any increase in the home central bank’s foreign assets implies an decreased home money supply. ( )3. Under a fixed exchange rate, central bank monetary policy tools are powerful to affect the economy’s money supply. ( )4. The expectation of a future revaluation causes a rise in foreign reserves. ( )5 When domestic and foreign currency bonds are imperfect substitutes, equilibrium in the foreign market requires that the domestic interest rate equal the expected domestic currency return on foreign bonds subtract a risk premium. ( )6. Between the end of World War II and 1973, the exchange rate system was one in which exchange rate between any two currencies were floating. ( )7.Under the reserve currency standard, the center country has to intervene the exchange rate. ( )8. The central bank can negate the money supply effect of intervention through sterilization.( )9. A system of managed floating allows the central bank to retain some ability to control the domestic money supply, but at the cost of greater exchange rate instability.( )10. A world system of fixed exchange rates in which countries peg the prices of their currencies in terms of a reserve currency does not involve a striking asymmetry.()Ⅲ. Answer the following questions:1. Why governments sometimes choose to devalue their currencies?2. How does fiscal expansion affect a country’s output and the central bank’s balance sheet under fixed exchange rate?3. Can you think of reasons why a government might willingly sacrifice some of its ability to use monetary policy so that it can have stable exchange rates?4. Explain why temporary and permanent fiscal expansions do not have different effects under fixed exchange rates, as they do under floating.Quiz for Chapter 18—21Ⅰ. Fill the following blanks with the proper word or expression1. The channels of interdependence depend, in turn, on the monetary and exchange rate arrangements that countries adopt-a set of institutions called the （）.2. In open economies, policymakers are motivated by the goals of internal and external balance. Simply defined, ( )requires the full employment of a country’s resources and domestic price level stability.3. A country is said to be in( ) when the sum of its current and its no reserve capital accounts equals zero, so that the current account balance is financed entirely by international lending without reserve movements.4. The gold standard contains some powerful automatic mechanisms that contribute to the simultaneous achievement of balance of payments equilibrium by all countries .That mechanisms is( ).5. ( ) is one currency that may be freely exchanged for foreign currencies.6、Under the Bretoon Woods system ,( ) or ( )can be used to influence output and thus help the government achieve its internal goal of full employment.7、Fiscal policy is also called ( ),because it alters the level of the economy’s total demand for goods and services.; The accompanying exchange rate adjustment is called ( ), Because it changes the direction of demand ,shifting it between domestic output and imports.8、Bretton Woods system give ( )the leading position in the world economy.9、Bretton Woods system require that other currency should peg with ( )10、Under the fixed rate system, if the exchange rate change, the foreign reserves will ( )11、( ) symmetry and exchange rate as automatic stabilizers are the advantages of floating rate system.12、( ) predict the collapse of the Bretton Woods system.13、The level of ( ) in the European Union is too small to cushion member countries from adverse economic events.14、The ( ) schedule shows the relationship between the monetary efficiency gain and the degree of economic integration.Ⅱ. True or false1. In an open economy, macroeconomic policy has two basic goals, internal balance (full employment with price stability) and external balance (avoiding excessive imbalances in international payments)( )2. The gold standard era starts in 1861 and end in 1914.( )3. The countries with the weak investment opportunities should be net importers of currently available output (and thus have current account surpluses), while countries with the good investment opportunities should be net exporters of current output (and have current account deficits).( )4. Each member of IMF contributed to the Fund an amount of gold equal in value to three-fourth of its quota. The remaining one-fourths of its quota took the form of a contribution of its own national currency. ( )5、Balance of payment crisis became increasingly frequent and violent throughout the 1960 and early 1970s.The events led to the Bretoon Woods system’s collapse.（）6、One interpretation of the Bretoon Woods system’s collapse is that the foreign countries were forced to import US. Inflation through the mechanism to stabilize their price levels and regain internal balance, they had toabandon fixed exchange rates and allow their currency to float.（）7、Speculation on changes in exchange rats could lead to instability in foreign exchange markets . （）8.Under the fixed rate system, the government is required to use foreign reserve to stabilize exchange rate.（）9.The U.S. Federal Reserve played the leading role in determining their owns domestic money supply.（）10.Advocates of floating argued that floating rates would allow each country to choose its own desired long-run inflation rate rather than passively importing the inflation rate established abroad. （）11.The eight original participant in the EMS’s exchange rate mechanism------France, German, Italy, Belgium, Denmark, Ireland, Luxembourg, and the Netherlands. ( )。

国际经济学(外语)习题3

I. Objective Questions1. Which of the following is not an assumption of factor proportions theory?(a) firms are price takers in both factor and commodity markets.(b) factors are immobile between countries.(c) the price of each factor is the same in the two countries.(d) factors are mobile within each country.2. Automobile manufacturing is capital intensive and rug manufacturing is labor intensive. TheU.S. has 100 million workers and $3,000 billion of capital. Peru has 20 million workers and $400 billion of capital. According to the factor proportions theory this implies that(a) the U.S. will specialize in producing automobiles, and Peru in producing rugs.(b) the U.S. will specialize in producing rugs, and Peru in producing automobiles.(c) neither country will specialize or trade with the other.(d) the U.S. will export both goods.3. If country A is labor abundant and country B is capital abundant, factor proportions theorypredicts free trade will cause(a) wages to fall in country A, and the return to capital to rise in country B.(b) wages to rise in country A, and the return to capital to fall in country B.(c) wages to rise in country A, and the return to capital to rise in country B.(d) wages to fall in country A, and the return to capital to fall in country B.4. Which of the following is not a criticis m of the factor proportions theory?(a) it assumes international factor immobility.(b) it focuses almost entirely on supply conditions and ignores demand.(c) it is limited by the assumption of constant returns to scale.(d) it considers labor as the only factor of production.5. A large home market can lead to a comparative advantage in goods produced under conditionsof(a) increasing returns to scale.(b) decreasing returns to scale.(c) constant returns to scale.(d) none of the above.6. If a country's growth is biased towards imports, as its economy grows its terms of trade will(a) improve.(b) deteriorate.(c) stay the same.(d)either improve or deteriorate, but we cannot say which.7. The main empirical finding that led to the articulation of the Leontief paradox was(a) import-substitutes embodied more capital relative to labor than U.S. exports.(b) the output of the U.S. agricultural sector was greater than that of the U.S.manufacturing sector.(c) U.S. farmers earn more than U.S. factory workers.(d) the capital/labor ratio of U.S. exports was greater than that of U.S. imports.8. The shift of the structure of Japan's exports since World War II is illustrative of(a) the dynamic nature of comparative advantage.(b) the durability of static comparative advantage.(c) the effect of U.S. direct foreign investment in Japan.(d) deindustrializtion.9. The exchange of automobiles between developed countries is an example of(a) intra-industry trade.(b) the factor proportions hypothesis.(c) interindustry trade.(d) the Leontief paradox.10. If a country is well-endowed with labor relative to capital, the factor proportions theory predictsthat it will(a) export labor intensive goods and import capital intensive goods.(b) import labor intensive goods and export capital intensive goods.(c) have a growth pattern biased to capital intensive goods.(d) have low interest rates and high wage rates.11. Which of the following might serve as a partial explanation for the Leontief paradox?(a) U.S. labor is more highly skilled than foreign labor.(b) U.S. exports are more skill intensive than U.S. imports.(c) a large part of U.S. imports are natural-resource-intensive.(d) all of the above.12. The U.S. auto industry can improve its competitive position in the world marketplace by(a) increasing factor productivity and reducing production costs.(b) reducing the size of production facilities.(c) seeking government assi stance in the form of tariffs.(d) delaying the introduction of new technology to save costs.13. The scope for mutually beneficial trade is greater the(a) more similar the demand patterns.(b) more similar the factor endowments.(c) more divergent the two country's cost ratios.(d) more similar the production functions for the two goods.14. Factor proportions theory identifies the comparative advantage source as(a) differences in relative factor endowments between countries.(b) similarities in tastes.(c) identical production functions.(d) similar relative factor endowments.15. Factor proportions theory is most successful in explaining trade between(a) industrial countries.(b) developing countries.(c) industrial and developing countries.(d) centrally planned economies.16. International trade tends to(a) have no effect on factor prices.(b) cause all factor prices to fall.(c) cause the price of the scarce factor to rise and the price of the abundant factor to fall.(d) cause the price of the scarce factor to fall and the price of the abundant factor to rise.17. Which factor stands to gain most from free trade in the long run?(a) factor intensive in the import competing good.(b) factor intensive in the nontraded good.(c) factor intensive in the export sector.(d) relatively scarce factor.18. Which factor stands to gain most from free trade in the short run?(a) factor intensive in the import-competing good.(b) factor specific to the export sector.(c) factor intensive in the export sector.(d) relatively scarce factor.19. Exchange between countries of totally different types of goods i s(a) intra-industry trade.(b) interindustry trade.(c) extraindustry trade.(d) countertrade.20. Intra-industry trade arises from(a) differences in relative factor endowments.(b) monopolistic competition and scale economies.(c) technology differences between countries.(d) homogeneous products.21. Intra-industry trade is a relatively large component of total trade flows between the U.S. and(a) Japan.(b) Mexico.(c) China.(d) Eastern Europe.22. The impact of trade on economic growth is termed(a) static gains.(b) exchange gains.(c) dynamic gains.(d) specialization gains.23. The U.S. relative factor abundance is most pronounced in(a) physical capital.(b) skilled labor.(c) semiskilled labor.(d) unskilled labor.24. The relatively scarce U.S. productive factor is(a) physical capital.(b) skilled labor.(c) semiskilled labor.(d) unskilled labor.25. The relatively abundant productive factor in Mexico is(a) physical capital.(b) skilled labor.(c) semiskilled labor.(d) unskilled labor.26. Which of the following is the most unskilled labor intensive in the U.S.?(a) wheat.(b) machine tools.(c) apparel.(d) oil field machinery.27. A country that is integrated into the world economy will enjoy benefits of(a) technological spillover.(b) foreign investment inflows.(c) lower prices for consumer goods.(d) all of the above.28. Economic growth is usually represented by a nonsymmetrical outward shift of th e productionpossibilities curve because(a) consumer tastes change.(b) growth is either export or import-biased.(c) technology is constant.(d) factor supplies are fixed.。

国际经济学双语习题1.docx

International Economics, 8e (Krugman)Chapter 1 Introduction1.1 What Is International Economics About?1)Historians of economic thought often describe written by and published in asthe first real exposition of an economic model.A)"Of the Balance of Trade/' David Hume, 1776B)"Wealth of Nations," David Hume, 1758C)"Wealth of Nations," Adam Smith, 1758D)"Wealth of Nations," Adam Smith, 1776E)"Of the Balance of Trade/' David Hume, 1758Answer: EQuestion Status: Previous Edition2)From 1959 to 2004,A)the U.S. economy roughly tripled in size.B)U.S. imports roughly tripled in size.C)the share of US Trade in the economy roughly tripled in size.D)U.S. Imports roughly tripled as compared to U.S. exports.E)U.S. exports roughly tripled in size.Answer: CQuestion Status: Previous Edition3)The United States is less dependent on trade than most other countries becauseA)the United States is a relatively large country.B)the United States is a ''Superpower.*'C)the military power of the United States makes it less dependent on anything.D)the United States invests in many other countries.E)many countries invest in the United States.Answer: AQuestion Status: Previous Edition4)Ancient theories of international economics from the 18th and 19th Centuries areA)not relevant to current policy analysis.B)are only of moderate relevance in today*s modern international economy.C)are highly relevant in today*s modern international economy.D)are the only theories that actually relevant to modern international economy.E)are not well understood by modern mathematically oriented theorists.Answer: CQuestion Status: Previous Edition5)An important insight of international trade theory is that when countries exchange goods and services one withthe other itA)is always beneficial to both countries.B)is usually beneficial to both countries.C)is typically beneficial only to the low wage trade partner country.D)is typically harmful to the technologically lagging country.E)tends to create unemployment in both countries.Answer: BQuestion Status: Previous Edition6)If there are large disparities in wage levels between countries, thenA)trade is likely to be harmful to both countries.B)trade is likely to be harmful to the country with the high wages.C)trade is likely to be harmful to the country with the low wages.D)trade is likely to be harmful to neither country.E)trade is likely to have no effect on either country.Answer: DQuestion Status: Previous Edition7)Benefits of international trade are limited toA)tangible goods.B)intangible goods.C)all goods but not services.D)services.E)None of the above.Answer: EQuestion Status: Previous Edition8)Which of the following does not belong?A)NAFTAB)Uruguay RoundC)World Trade OrganizationD)None Tariff BarriersE)None of the above.Answer: DQuestion Status: Previous Edition9)International economics does not use the same fundamental methods of analysis as other branches ofeconomics, becauseA)the level of complexity of international issues is unique.B)the interactions associated with international economic relations is highly mathematical.C)international economics takes a different perspective on economic issues.D)international economic policy requires cooperation with other countries.E)None of the above.Answer: EQuestion Status: New10)Because the Constitution forbids restraints on interstate trade,A)the U.S. may not impose tariffs on imports from NAFTA countries.B)the U.S. may not affect the international value of the $ U.S.C)the U.S. may not put restraints on foreign investments in California if it involves a financial intermediaryin New York State.D)the U.S. may not impose export duties.E)None of the aboveAnswer: EQuestion Status: New11)Which of the following is not a major concern of international economic theory?A)protectionismB)the balance of paymentsC)exchange rate determinationD)Bilateral trade relations with ChinaE)None of the aboveAnswer: DQuestion Status: New12)"Trade is generally harmful if there are large disparities between countries in wages."A)This is generally true.B)This is generally false.C)Trade theory has nothing to say about this issue.D)This is true if the trade partner ignores child labor laws.E)This is true if the trade partner uses prison labor.Answer: BQuestion Status: New13)Who sells what to whomA)has been a major preoccupation of international economics.B)is not a valid concern of international economics.C)is not considered important for government foreign trade policy since such decisions are made in theprivate competitive market.D)is determined by political rather than economic factors.E)None of the aboveAnswer: AQuestion Status: New14)The insight that patterns of trade are primarily determined by international differences in labor productivity wasfirst proposed byA)Adam Smith.B)David Hume.C)David Ricardo.D)Eli Heckscher.E)Lerner and Samuelson.Answer: CQuestion Status: New15)Since the mid 1940s, the United States, has pursued a broad policy ofA)strengthening "Fortress America" protectionism.B)removing barriers to international trade.C)isolating Iran and other axes of evil.D)protecting the U.S. from the economic impact of oil producers.E)None of the above.Answer: BQuestion Status: New16)The balance of payments has become a central issue for the United States becauseA)when the balance of payments is not balanced, society is unbalanced.B)the U.S. economy cannot grow when the balance of payments is in deficit.C)the U.S. has run huge trade deficits in every year since 1982.D)the U.S. never experienced a surplus in its balance of payments.E)None of the above.Answer: CQuestion Status: New17)The euro, a common currency for most of the nations of Western Europe, was introducedA)before 1900.B)before 1990.C)before 2000.D)in order to snub the pride of the U.S.E)None of the above.Answer: CQuestion Status: New18)During the first three years of its existence, the euroA)depreciated against the $U.S.B)maintained a strict parity with the $U.S.C)strengthened against the $U.S.D)proved to be an impossible dream.E)None of the above.Answer: AQuestion Status: New19)The study of exchange rate determination is a relatively new part of international economics, since,A)for much of the past century, exchange rates were fixed by government action.B)the calculations required for this were not possible before modern computers became available.C)economic theory developed by David Hume demonstrated that real exchange rates remain fixed overtime.D)dynamic overshooting asset pricing models are a recent theoretical development.E)None of the aboveAnswer: AQuestion Status: New20) A fundamental problem in international economics is how to produceA) a perfect degree of monetary harmony.B)an acceptable degree of harmony among the international trade policies of different countries.C) a world government that can harmonize trade and monetary policiesD)a counter-cyclical monetary policy so that all countries will not be adversely affected by a financial crisisin one country.E)None of the above.Answer: BQuestion Status: New21)For the 50 years preceding 1994, international trade policies have been governedA)by the World Trade Organization.B)by the International Monetary Fund.by the World.D)by an international treaty known as the General Agreement on Tariffs and Trade (GATT).E)None of the above.Answer: DQuestion Status: New22)The international capital market isA)the place where you can rent earth moving equipment anywhere in the world.B)a set of arrangements by which individuals and firms exchange money now for promises to pay in thefuture.C)the arrangement where banks build up their capital by borrowing from the Central Bank.D)the place where emerging economies accept capital invested by banks.E)None of the above.Answer: BQuestion Status: New23)International capital markets experience a kind of risk not faced in domestic capital markets, namelyA)"economic meltdown" risk.B)Flood and hurricane crisis risk.C)the risk of unexpected downgrading of assets by Standard and Poor.D)exchange rate risk.E)None of the above.Answer: DQuestion Status: New24)Since 1994, trade rules have been enforced byA)the WTO.B)the GIO.C)the GATT.D)The U.S. Congress.E)None of the above.Answer: AQuestion Status: New25)In 1998 an economic and financial crisis in South Korea caused it to experienceA) a surplus in their balance of payments.B) a deficit in their balance of payments.C) a balanced balance of payments.D)an unbalanced balance of payments.E)None of the above.Answer: AQuestion Status: New26)In 1999, demonstrators representing a mix of traditional and new ideologies disrupted a major internationaltrade meeting in Seattle ofA)the OECD.B)NAFTA.C)WTO.D)GATT.E)None of the above.Answer: CQuestion Status: New27)International Economists cannot discuss the effects of international trade or recommend changes in governmentpolicies toward trade with any confidence unless they knowA)their theory is the best available.B)their theory is internally consistent.C)their theory passes the "reasonable person*' legal criteria.D)their theory is good enough to explain the international trade that is actually observed.E)None of the above.Answer: DQuestion Status: New28)Trade theorists have proven that the gains from tradeA)must raise the economic welfare of every country engaged in trade.B)must raise the economic welfare of everyone in every country engaged in trade.C)must harm owners of ''specific" factors of production.D)will always help "winners" by an amount exceeding the losses of "losers."E)None of the above.Answer: EQuestion Status: New1.2 International Economics: Trade and Money1)Cost-benefit analysis of international tradeA)is basically useless.B)is empirically intractable.C)focuses attention primarily on conflicts of interest within countries.D)focuses attention on conflicts of interests between countries.E)None of the above.Answer: CQuestion Status: Previous Edition2)An improvement in a country's balance of payments means a decrease in its balance of payments deficit, or anincrease in its surplus. In fact we know that a surplus in a balance of paymentsA)is good.B)is usually good.C)is probably good.D)may be considered bad.E)is always bad.Answer: DQuestion Status: Previous Edition3)The GATT wasA)an international treaty.B)an international U.N. agency.C)an international IMF agency.D) a U.S. government agency.E) a collection of tariffs.Answer: AQuestion Status: Previous Edition4)The international debt crisis of early 1982 was precipitated when could not pay its internationaldebts.A)RussiaB)MexicoC)BrazilD)MalaysiaE)ChinaAnswer: BQuestion Status: Previous Edition5)International economics can be divided into two broad sub-fieldsA)macro and micro.B)developed and less developed.C)monetary and barter.D)international trade and international money.E)static and dynamic.Answer: DQuestion Status: Previous Edition6)International monetary analysis focuses onA)the real side of the international economy.B)the international trade side of the international economy.C)the international investment side of the international economy.D)the issues of international cooperation between Central Banks.E)None of the above.Answer: EQuestion Status: New7)The distinction between international trade and international money is not useful sinceA)real developments in the trade accounts have monetary implications.B)the balance of payments includes both real and financial implications.C)developments caused by purely monetary changes have real effects.D)trade models focus on real, or barter relationships.E)None of the above.Answer: EQuestion Status: New8)It is argued that small countries tend have more open economies than large ones. Is this empirically verified?What are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the "natural" market for any givenplant is a circle with a radius of n miles with the plant at its center. Assuming that the production plantsare located randomly throughout the country, then the probability that the typical circular market willencompass some foreign country is greater the smaller is the country.Question Status: Previous Edition9)It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poorand low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's. What do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up a discussion, which will lead to the models in the following chapters.Question Status: Previous Edition10)Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively large trade flows from West Africa to France. The relatively sparse trade between countries within South America seems curious.Question Status: Previous Edition11)International trade tends to prove that international trade is beneficial to all trading countries. However, casualobservation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: This question is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.Question Status: Previous Edition12)It is argued that small countries tend have more open economies than large ones. Is this empirically verified?What are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the "natural" market for any givenplant is a circle with a radius of n miles with the plant at its center. Assuming that the production plantsare located randomly throughout the country, then the probability that the typical circular market willencompass some foreign country is greater the smaller is the country.Question Status: Previous Edition13)It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poorand low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's. What do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up a discussion, which will lead to the models in the following chapters.Question Status: Previous Edition14)Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively large trade flows from West Africa to France. The relatively sparse trade between countries within South America seems curious.Question Status: Previous Edition15)International trade tends to prove that international trade is beneficial to all trading countries. However, casualobservation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: This question is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.Question Status: Previous Edition16)International Trade theory is one of the oldest areas of applied economic policy analysis. It is also an area for whichdata was relatively widely available very early on. Why do you suppose this is the case?Answer: In ancient times, public finance was not well developed. Most of the population was not producing and consuming within well-developed market economies, so that income and sales taxes were not efficient. Oneof the most convenient ways for governments to obtain resources was to set up custom posts at borders andtax. Hence international trade was of great policy interest to princes and kings, as was precise data of theirmain tax base.Question Status: Previous Edition(SP-ICUA bsWine Million Liters17)The figure above is the Production Possibility Frontier (PPF) of Baccalia, where only two products are produced,clothing and wine. In fact Baccalia is producing on its PPF at point A. By and large the people of Baccalia are content, as both their external and internal needs for warmth are satisfied in the most economically efficient manner possible, given their available productive resources (and known technology). How much wine is being produced? How much cloth? If a person in this country wanted to purchase a liter of wine, what would be the price he or she would have to pay?Judging from what you learned in the previous paragraph, can you indicate at which point (if at all) the Community Indifference Curve is tangent to the Production Possibility Frontier? Explain your reasoning. Answer: 6 million liters of wine are being produced.3 million square yards of cloth are being produced.The price of 1 liter of wine is one half of a square yard of cloth.The tangency is at point A. We know this because otherwise the country would not be producing at thepoint of maximum economic efficiency.Question Status: Previous Edition18) One day, Baccalia joined the WTO and joined the Global Village. They discovered that in the LWE (London WineExchange), 1 liter of wine is worth 1 square yard of cloth. What is the logical production point they should strive for? (See figure.)Answer: 10 million liters of wine.Question Status: Previous Edition19) Baccalia wishes to enjoy to the fullest from the gains from trade, but is not willing to give up imbibing even one dropof wine from the 6 million liters they consumed in their original autarkic state. If their new consumption point is a point we shall designate as point b, describe where this point would be found. (See figure.)Answer: Vertically above point aQuestion Status: Previous Edition20) Where is the Community Indifference Curve family of curves tangent to their new Consumption Possibility Frontier?Answer: At point b.Question Status: Previous Edition21) How can you prove that Baccalia has in fact gained from the availability of trade, and that their new situation issuperior to the pre-trade situation (with which they were quite content)?Answer: The country was consuming at point a before trade. It is now consuming at point b with trade. Point brepresents a superior welfare combination of goods as compared to point a, since at b the country has moreof each of the goods.Question Status: Previous Edition6 10Wine Million Liters(SP 」EA 另UO=M)。

国际经济学英文题库（最全版附答案）

国际经济学英文题库（最全版附答案）【国际经济学】英文题库Chapter 1: IntroductionMultiple-Choice Questions1. Which of the following products are not produced at all in the United States *A. Coffee, tea, cocoaB. steel, copper, aluminumC. petroleum, coal, natural gasD. typewriters, computers, airplanes2. International trade is most important to the standard of living of:A. the United States*B. SwitzerlandC. GermanyD. England3. Over time, the economic interdependence of nations has:*A. grownB. diminishedC. remained unchangedD. cannot say4. A rough measure of the degree of economic interdependence of a nation is giv en by:A. the size of the nations' populationB. the percentage of its population to its GDP*C. the percentage of a nation's imports and exports to its GDPD. all of the above5. Economic interdependence is greater for:*A. small nationsB. large nationsC. developed nationsD. developing nations6. The gravity model of international trade predicts that trade between two nat ions is largerA. the larger the two nationsB. the closer the nationsC. the more open are the two nations*D. all of the above7. International economics deals with:A. the flow of goods, services, and payments among nationsB. policies directed at regulating the flow of goods, services, and paymentsC. the effects of policies on the welfare of the nation*D. all of the above8. International trade theory refers to:*A. the microeconomic aspects of international tradeB. the macroeconomic aspects of international tradeC. open economy macroeconomics or international financeD. all of the above9. Which of the following is not the subject matter of international financeA. foreign exchange marketsB. the balance of payments*C. the basis and the gains from tradeD. policies to adjust balance of payments disequilibria10. Economic theory:A. seeks to explain economic eventsB. seeks to predict economic eventsC. abstracts from the many detail that surrounds aneconomic event*D. all of the above11. Which of the following is not an assumption generally made in the study of international economicsA. two nationsB. two commodities*C. perfect international mobility of factorsD. two factors of production12. In the study of international economics:A. international trade policies are examined before the bases for tradeB. adjustment policies are discussed before the balance of paymentsC. the case of many nations is discussed before the two-nations case*D. none of the above13. International trade is similar to interregional trade in that both must ove rcome:*A. distance and spaceB. trade restrictionsC. differences in currenciesD. differences in monetary systems14. The opening or expansion of international trade usually affects all members of society:A. positivelyB. negatively*C. most positively but some negativelyD. most negatively but some positively15. An increase in the dollar price of a foreign currency usually:A. benefit . importers*B. benefits . exportersC. benefit both . importers and . exportersD. harms both . importers and . exporters16. Which of the following statements with regard to international economics is trueA. It is a relatively new field*B. it is a relatively old fieldC. most of its contributors were not economistsD. none of the above思考题：1.为什么学习国际经济学非常重要2.列举体现当前国际经济学问题的一些重要事件，它们为什么重要3.当今世界面临的最重要的国家经济问题是什么全球化的利弊各是什么Chapter 2: The Law of Comparative AdvantageMultiple-Choice Questions1. The Mercantilists did not advocate:* tradeB. stimulating the nation's exportsC. restricting the nations' importsD. the accumulation of gold by the nation2. According to Adam Smith, international trade was based on:*A. absolute advantageB. comparative advantageC. both absolute and comparative advantageD. neither absolute nor comparative advantage3. What proportion of international trade is based onabsolute advantageA. AllB. most*C. someD. none4. The commodity in which the nation has the smallest absolute disadvantage is the commodity of its:A. absolute disadvantageB. absolute advantageC. comparative disadvantage*D. comparative advantage5. If in a two-nation (A and B), two-commodity (X and Y) world, it is establish ed that nation A has a comparative advantage in commodity X, then nation B must have:A. an absolute advantage in commodity YB. an absolute disadvantage in commodity YC. a comparative disadvantage in commodity Y*D. a comparative advantage in commodity Y6. If with one hour of labor time nation A can produce either 3X or 3Y while na tion B can produce either 1X or 3Y (and labor is the only input):A. nation A has a comparative disadvantage in commodity XB. nation B has a comparative disadvantage in commodity Y*C. nation A has a comparative advantage in commodity XD. nation A has a comparative advantage in neither commodity7. With reference to the statement in Question 6:A. Px/Py=1 in nation AB. Px/Py=3 in nation BC. Py/Px=1/3 in nation B*D. all of the above8. With reference to the statement in Question 6, if 3X is exchanged for 3Y:A. nation A gains 2X*B. nation B gains 6YC. nation A gains 3YD. nation B gains 3Y9. With reference to the statement of Question 6, the range of mutually benefic ial trade between nation A and B is:A. 3Y < 3X < 5YB. 5Y < 3X < 9Y*C. 3Y < 3X < 9YD. 1Y < 3X < 3Y10. If domestically 3X=3Y in nation A, while 1X=1Y domestically in nation B:A. there will be no trade between the two nationsB. the relative price of X is the same in both nationsC. the relative price of Y is the same in both nations*D. all of the above11. Ricardo explained the law of comparative advantage on the basis of:*A. the labor theory of valueB. the opportunity cost theoryC. the law of diminishing returnsD. all of the above12. Which of the following statements is trueA. The combined demand for each commodity by the two nations is negatively slop edB. the combined supply for each commodity by the two nations is rising stepwiseC. the equilibrium relative commodity price for each commodity with trade isgiven by the intersection of the demand and supply of each commod ity by the two nations*D. all of the above13. A difference in relative commodity prices between two nations can be based upon a difference in:A. factor endowmentsB. technologyC. tastes*D. all of the above14. In the trade between a small and a large nation:A. the large nation is likely to receive all of the gains from trade*B. the small nation is likely to receive all of the gains from tradeC. the gains from trade are likely to be equally sharedD. we cannot say15. The Ricardian trade model has been empirically*A. verifiedB. rejectedC. not testedD. tested but the results were inconclusive思考题：比较优势原理所带来的贸易所得是从何而来的贸易利益又是如何分配的现实世界中比较优势是如何度量的你认为目前中国具有比较优势的商品有哪些这意味着什么比较优势会不会发生变化什么样的原因可能会导致其变化经济学家是如何验证比较优势原理的Chapter 3: The Standard Theory of International TradeMultiple-Choice Questions1. A production frontier that is concave from the origin indicates that the nat ion incurs increasing opportunity costs in the production of:A. commodity X onlyB. commodity Y only*C. both commoditiesD. neither commodity2. The marginal rate of transformation (MRT) of X for Y refers to:A. the amount of Y that a nation must give up to produce each additional unit o f XB. the opportunity cost of XC. the absolute slope of the production frontier at the point of production*D. all of the above3. Which of the following is not a reason for increasing opportunity costs:*A. technology differs among nationsB. factors of production are not homogeneousC. factors of production are not used in the same fixed proportion in the produ ction of all commoditiesD. for the nation to produce more of a commodity, it must use resources that ar e less and less suited in the production of the commodity4. Community indifference curves:A. are negatively slopedB. are convex to the originC. should not cross*D. all of the above5. The marginal rate of substitution (MRS) of X for Y in consumption refers to the:A. amount of X that a nation must give up for one extra unit of Y and still rem ain on the same indifference curve*B. amount of Y that a nation must give up for one extra unit of X and still re main on the same indifference curveC. amount of X that a nation must give up for one extra unit of Y to reach a hi gher indifference curveD. amount of Y that a nation must give up for one extra unit of X to reach a hi gher indifference curve6. Which of the following statements is true with respect to the MRS of X for YA. It is given by the absolute slope of the indifference curveB. declines as the nation moves down an indifference curveC. rises as the nation moves up an indifference curve*D. all of the above7. Which of the following statements about community indifference curves is t rueA. They are entirely unrelated to individuals' community indifference curvesB. they cross, they cannot be used in the analysis*C. the problems arising from intersecting community indifference curves can be overcome by the application of the compensation principleD. all of the above.8. Which of the following is not true for a nation that is in equilibrium in isolation*A. It consumes inside its production frontierB. it reaches the highest indifference curve possible with itsproduction front ierC. the indifference curve is tangent to the nation's production frontierD. MRT of X for Y equals MRS of X for Y, and they are equal to Px/Py9. If the internal Px/Py is lower in nation 1 than in nation 2 without trade:A. nation 1 has a comparative advantage in commodity YB. nation 2 has a comparative advantage in commodity X*C. nation 2 has a comparative advantage in commodity YD. none of the above10. Nation 1's share of the gains from trade will be greater:A. the greater is nation 1's demand for nation 2's exports*B. the closer Px/Py with trade settles to nation 2's pretrade Px/PyC. the weaker is nation 2's demand for nation 1's exportsD. the closer Px/Py with trade settles to nation 1's pretrade Px/Py11. If Px/Py exceeds the equilibrium relative Px/Py with tradeA. the nation exporting commodity X will want to export more of X than at equilibriumB. the nation importing commodity X will want to import less of X than atequilibriumC. Px/Py will fall toward the equilibrium Px/Py*D. all of the above12. With free trade under increasing costs:A. neither nation will specialize completely in productionB. at least one nation will consume above its production frontierC. a small nation will always gain from trade*D. all of the above13. Which of the following statements is falsegains from trade can be broken down into the gains from exchange and the ga ins from specializationB. gains from exchange result even without specialization*C. gains from specialization result even without exchangeD. none of the above14. The gains from exchange with respect to the gains from specialization are a lways:A. greaterB. smallerC. equal*D. we cannot say without additional information15. Mutually beneficial trade cannot occur if production frontiers are:A. equal but tastes are notB. different but tastes are the sameC. different and tastes are also different*D. the same and tastes are also the same.思考题：国际贸易的标准理论与大卫.李嘉图的比较优势原理有何异同两国仅仅由于需求偏好不同可以进行市场分工和狐狸贸易吗两国仅仅由于要素禀赋不同和/或生产技术不同可以进行分工和贸易吗Chapter 4: Demand and Supply, Offer Curves, and the T erms of TradeMultiple Choice Questions1. Which of the following statements is correctA. The demand for imports is given by the excess demandfor the commodityB. the supply of exports is given by the excess supply of the commodityC. the supply curve of exports is flatter than the total supply curve of the co mmodity*D. all of the above2. At a relative commodity price above equilibriumA. the excess demand for a commodity exceeds the excess supply of the commodityB. the quantity demanded of imports exceeds the quantity supplied of exports*C. the commodity price will fallD. all of the above3. The offer curve of a nation shows:A. the supply of a nation's importsB. the demand for a nation's exportsC. the trade partner's demand for imports and supply of exports*D. the nation's demand for imports and supply of exports4. The offer curve of a nation bulges toward the axis measuring the nationsA. import commodity*B. export commodityC. export or import commodityD. nontraded commodity5. Export prices must rise for a nation to increase its exports because the nat ion:A. incurs increasing opportunity costs in export productionB. faces decreasing opportunity costs in producing import substitutesC. faces decreasing marginal rate of substitution in consumption*D. all of the above6. Which of the following statements regarding partial equilibrium analysis is falseA. It relies on traditional demand and supply curvesB. it isolates for study one market*C. it can be used to determine the equilibrium relative commodity price but no t the equilibrium quantity with tradeD. none of the above7. Which of the following statements regarding partial equilibrium analysis is trueA. The demand and supply curve are derived from the nation's production frontie r and indifference mapB. It shows the same basic information as offer curvesC. It shows the same equilibrium relative commodity prices as with offer curves *D. all of the above8. In what way does partial equilibrium analysis differ from general equilibr ium analysisA. The former but not the latter can be used to determine the equilibrium price with tradeB. the former but not the latter can be used to determine the equilibrium quant ity with tradeC. the former but not the latter takes into consideration the interaction among all markets in the economy*D. the former gives only an approximation to the answer sought.9. If the terms of trade of a nation are in a two-nation world, those of the t rade partner are:A. 3/4*B. 2/3C. 3/2D. 4/310. If the terms of trade increase in a two-nation world, those of the trade pa rtner:*A. deteriorateB. improveC. remain unchangedD. any of the above11. If a nation does not affect world prices by its trading, its offer curve:A. is a straight lineB. bulges toward the axis measuring the import commodity*C. intersects the straight-line segment of the world's offer curveD. intersects the positively-sloped portion of the world's offer curve12. If the nation's tastes for its import commodity increases:A. the nation's offer curve rotates toward the axis measuring its import commod ityB. the partner's offer curve rotates toward the axis measuring its import commo dityC. the partner's offer curve rotates toward the axis measuring its export commo dity*D. the nation's offer curve rotates toward the axis measuring its export commo dity13. If the nation's tastes for its import commodity increases:A. the nation's terms of trade remain unchanged*B. the nation's terms of trade deteriorateC. the partner's terms of trade deteriorateD. any of the above14. If the tastes for a nation import commodity increases, trade volume:*A. increasesB. declinesC. remains unchangedD. any of the above15. A deterioration of a nation's terms of trade causes the nation's welfare t o:A. deteriorateB. improveC. remain unchanged*D. any of the above思考题：提供曲线如何推导有何用途两国贸易时的均衡商品价格是如何决定的受哪些因素影响贸易条件的含义是贸易条件的改善意味着什么哪些因素可能导致贸易条件的改善Chapter 5: Factor Endowments and the Heckscher-Ohlin TheoryMultiple-Choice Questions1. The H-O model extends the classical trade model by:A. explaining the basis for comparative advantageB. examining the effect of trade on factor prices*C. both A and BD. neither A nor B2. Which is not an assumption of the H-O model:A. the same technology in both nationsB. constant returns to scale*C. complete specializationD. equal tastes in both nations3. With equal technology nations will have equal K/L in production if: *A. factor prices are the sameB. tastes are the sameC. production functions are the sameD. all of the above4. We say that commodity Y is K-intensive with respect to X when:A. more K is used in the production of Y than XB. less L is used in the production of Y than X*C. a lower L/K ratio is used in the production of Y than XD. a higher K/L is used in the production of X than Y5. When w/r falls, L/KA. falls in the production of both commodities*B. rises in the production of both commoditiesC. can rise or fallD. is not affected6. A nation is said to have a relative abundance of K if it has a:A. greater absolute amount of KB. smaller absolute amount of LC. higher L/K ratio*D. lower r/w7. A difference in relative commodity prices between nations can be based ona difference in:A. technologyB. factor endowmentsC. tastes*D. all of the above。

智慧树答案国际经济学(双语)(山东联盟)知到课后答案章节测试2022年

绪论1.全世界对于经济全球化的看法是一致的。

答案:错2.发达国家在同一阵营，彼此之间没有利益冲突。

答案:错3.经济全球化程度随着科学技术水平的提高而日益加深。

答案:对第一章1.Sovereign nations:答案:Often ignore the interests of foreigners.2.Politicians do not erect barriers to trade with other countries because theyare also concerned with the well-being of foreigners.答案:错bor may be internationally mobile, but capital and land do not migratefrom one country to another.答案:对4.国家的贸易政策是国家利益的体现，而国家利益是一国内部利益集团公共选择的结果。

答案:对5.资源在世界范围内的配置由大国的力量决定，大国可以凌驾于小国之上。

答案:错6.一国的贸易政策是动态变化的，国家与国家间的经济关系也是动态变化的。

答案:对第二章1.An increase in demand will lead to:答案:An increase in price.2.All of the following can lead to an increase in the demand for ice cream, anormal good, EXCEPT:答案:A decrease in income.bor may be internationally mobile, but capital and land do not migratefrom one country to another.答案:错4.生产可能性边界的形状取决于该国的技术水平、资源禀赋以及两种商品之间的边际转换率。

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International Economics, 8e (Krugman)Chapter 1 Introduction1.1 What Is International Economics About?1) Historians of economic thought often describe ________ written by ________ and published in ________ asthe first real exposition of an economic model.A) "Of the Balance of Trade," David Hume, 1776B) "Wealth of Nations," David Hume, 1758C) "Wealth of Nations," Adam Smith, 1758D) "Wealth of Nations," Adam Smith, 1776E) "Of the Balance of Trade," David Hume, 1758Answer: EQuestion Status: Previous Edition2) From 1959 to 2004,A) the U.S. economy roughly tripled in size.B) U.S. imports roughly tripled in size.C) the share of US Trade in the economy roughly tripled in size.D) U.S. Imports roughly tripled as compared to U.S. exports.E) U.S. exports roughly tripled in size.Answer: CQuestion Status: Previous Edition3) The United States is less dependent on trade than most other countries becauseA) the United States is a relatively large country.B) the United States is a "Superpower."C) the military power of the United States makes it less dependent on anything.D) the United States invests in many other countries.E) many countries invest in the United States.Answer: AQuestion Status: Previous Edition4) Ancient theories of international economics from the 18th and 19th Centuries areA) not relevant to current policy analysis.B) are only of moderate relevance in today's modern international economy.C) are highly relevant in today's modern international economy.D) are the only theories that actually relevant to modern international economy.E) are not well understood by modern mathematically oriented theorists.Answer: CQuestion Status: Previous Edition5) An important insight of international trade theory is that when countries exchange goods and services onewith the other itA) is always beneficial to both countries.B) is usually beneficial to both countries.C) is typically beneficial only to the low wage trade partner country.D) is typically harmful to the technologically lagging country.E) tends to create unemployment in both countries.Answer: BQuestion Status: Previous EditionD) trade is likely to be harmful to neither country.E) trade is likely to have no effect on either country.Answer: DQuestion Status: Previous Edition7) Benefits of international trade are limited toA) tangible goods.B) intangible goods.C) all goods but not services.D) services.E) None of the above.Answer: EQuestion Status: Previous Edition8) Which of the following does not belong?A) NAFTAB) Uruguay RoundC) World Trade OrganizationD) None Tariff BarriersE) None of the above.Answer: DQuestion Status: Previous Edition9) International economics does not use the same fundamental methods of analysis as other branches ofeconomics, becauseA) the level of complexity of international issues is unique.B) the interactions associated with international economic relations is highly mathematical.C) international economics takes a different perspective on economic issues.D) international economic policy requires cooperation with other countries.E) None of the above.Answer: EQuestion Status: New10) Because the Constitution forbids restraints on interstate trade,A) the U.S. may not impose tariffs on imports from NAFTA countries.B) the U.S. may not affect the international value of the $ U.S.C) the U.S. may not put restraints on foreign investments in California if it involves a financialintermediary in New York State.D) the U.S. may not impose export duties.E) None of the aboveAnswer: EQuestion Status: NewD) Bilateral trade relations with ChinaE) None of the aboveAnswer: DQuestion Status: New12) "Trade is generally harmful if there are large disparities between countries in wages."A) This is generally true.B) This is generally false.C) Trade theory has nothing to say about this issue.D) This is true if the trade partner ignores child labor laws.E) This is true if the trade partner uses prison labor.Answer: BQuestion Status: New13) Who sells what to whomA) has been a major preoccupation of international economics.B) is not a valid concern of international economics.C) is not considered important for government foreign trade policy since such decisions are made in theprivate competitive market.D) is determined by political rather than economic factors.E) None of the aboveAnswer: AQuestion Status: New14) The insight that patterns of trade are primarily determined by international differences in labor productivitywas first proposed byA) Adam Smith.B) David Hume.C) David Ricardo.D) Eli Heckscher.E) Lerner and Samuelson.Answer: CQuestion Status: New15) Since the mid 1940s, the United States, has pursued a broad policy ofA) strengthening "Fortress America" protectionism.B) removing barriers to international trade.C) isolating Iran and other axes of evil.D) protecting the U.S. from the economic impact of oil producers.E) None of the above.Answer: BQuestion Status: NewD) the U.S. never experienced a surplus in its balance of payments.E) None of the above.Answer: CQuestion Status: New17) The euro, a common currency for most of the nations of Western Europe, was introducedA) before 1900.B) before 1990.C) before 2000.D) in order to snub the pride of the U.S.E) None of the above.Answer: CQuestion Status: New18) During the first three years of its existence, the euroA) depreciated against the $U.S.B) maintained a strict parity with the $U.S.C) strengthened against the $U.S.D) proved to be an impossible dream.E) None of the above.Answer: AQuestion Status: New19) The study of exchange rate determination is a relatively new part of international economics, since,A) for much of the past century, exchange rates were fixed by government action.B) the calculations required for this were not possible before modern computers became available.C) economic theory developed by David Hume demonstrated that real exchange rates remain fixed overtime.D) dynamic overshooting asset pricing models are a recent theoretical development.E) None of the aboveAnswer: AQuestion Status: New20) A fundamental problem in international economics is how to produceA) a perfect degree of monetary harmony.B) an acceptable degree of harmony among the international tradepolicies of different countries.C) a world government that can harmonize trade and monetary policiesD) a counter-cyclical monetary policy so that all countries will not be adversely affected by a financialcrisis in one country.E) None of the above.Answer: BQuestion Status: NewD) by an international treaty known as the General Agreement on Tariffs and Trade (GATT).E) None of the above.Answer: DQuestion Status: New22) The international capital market isA) the place where you can rent earth moving equipment anywhere in the world.B) a set of arrangements by which individuals and firms exchange money now for promises to pay in thefuture.C) the arrangement where banks build up their capital by borrowing from the Central Bank.D) the place where emerging economies accept capital invested by banks.E) None of the above.Answer: BQuestion Status: New23) International capital markets experience a kind of risk not faced in domestic capital markets, namelyA) "economic meltdown" risk.B) Flood and hurricane crisis risk.C) the risk of unexpected downgrading of assets by Standard and Poor.D) exchange rate risk.E) None of the above.Answer: DQuestion Status: New24) Since 1994, trade rules have been enforced byA) the WTO.B) the G10.C) the GATT.D) The U.S. Congress.E) None of the above.Answer: AQuestion Status: New25) In 1998 an economic and financial crisis in South Korea caused it to experienceA) a surplus in their balance of payments.B) a deficit in their balance of payments.C) a balanced balance of payments.D) an unbalanced balance of payments.E) None of the above.Answer: AQuestion Status: Newtrade meeting in Seattle ofA) the OECD.B) NAFTA.C) WTO.D) GATT.E) None of the above.Answer: CQuestion Status: New27) International Economists cannot discuss the effects of international trade or recommend changes ingovernment policies toward trade with any confidence unless they knowA) their theory is the best available.B) their theory is internally consistent.C) their theory passes the "reasonable person" legal criteria.D) their theory is good enough to explain the international trade that is actually observed.E) None of the above.Answer: DQuestion Status: New28) Trade theorists have proven that the gains from tradeA) must raise the economic welfare of every country engaged in trade.B) must raise the economic welfare of everyone in every country engaged in trade.C) must harm owners of "specific" factors of production.D) will always help "winners" by an amount exceeding the losses of "losers."E) None of the above.Answer: EQuestion Status: New1.2 International Economics: Trade and Money1) Cost-benefit analysis of international tradeA) is basically useless.B) is empirically intractable.C) focuses attention primarily on conflicts of interest within countries.D) focuses attention on conflicts of interests between countries.E) None of the above.Answer: CQuestion Status: Previous Edition2) An improvement in a country's balance of payments means a decrease in its balance of payments deficit, oran increase in its surplus. In fact we know that a surplus in a balance of paymentsA) is good.B) is usually good.C) is probably good.D) may be considered bad.E) is always bad.Answer: DQuestion Status: Previous EditionA) an international treaty.B) an international U.N. agency.C) an international IMF agency.D) a U.S. government agency.E) a collection of tariffs.Answer: AQuestion Status: Previous Edition4) The international debt crisis of early 1982 was precipitated when ________ could not pay its internationaldebts.A) RussiaB) MexicoC) BrazilD) MalaysiaE) ChinaAnswer: BQuestion Status: Previous Edition5) International economics can be divided into two broad sub-fieldsA) macro and micro.B) developed and less developed.C) monetary and barter.D) international trade and international money.E) static and dynamic.Answer: DQuestion Status: Previous Edition6) International monetary analysis focuses onA) the real side of the international economy.B) the international trade side of the international economy.C) the international investment side of the international economy.D) the issues of international cooperation between Central Banks.E) None of the above.Answer: EQuestion Status: New7) The distinction between international trade and international money is not useful sinceA) real developments in the trade accounts have monetary implications.B) the balance of payments includes both real and financial implications.C) developments caused by purely monetary changes have real effects.D) trade models focus on real, or barter relationships.E) None of the above.Answer: EQuestion Status: NewWhat are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the "natural" market for any givenplant is a circle with a radius of n miles with the plant at its center. Assuming that the productionplants are located randomly throughout the country, then the probability that the typical circularmarket will encompass some foreign country is greater the smaller is the country.Question Status: Previous Edition9) It is argued that if a rich high wage country such as the United States were to expand trade with a relativelypoor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's. What do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up a discussion, which will lead to the models in the following chapters.Question Status: Previous Edition10) Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively large trade flows from West Africa to France. The relatively sparse trade between countries within South America seems curious.Question Status: Previous Edition11) International trade tends to prove that international trade is beneficial to all trading countries. However,casual observation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: This question is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.Question Status: Previous Edition12) It is argued that small countries tend have more open economies than large ones. Is this empirically verified?What are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the "natural" market for any givenplant is a circle with a radius of n miles with the plant at its center. Assuming that the productionplants are located randomly throughout the country, then the probability that the typical circularmarket will encompass some foreign country is greater the smaller is the country.Question Status: Previous Edition13) It is argued that if a rich high wage country such as the United States were to expand trade with a relativelypoor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's. What do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up a discussion, which will lead to the models in the following chapters.Question Status: Previous Edition14) Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively large trade flows from West Africa to France. The relatively sparse trade between countries within South America seems curious.Question Status: Previous Editioncasual observation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: This question is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.Question Status: Previous Edition16) International Trade theory is one of the oldest areas of applied economic policy analysis. It is also an area forwhich data was relatively widely available very early on. Why do you suppose this is the case?Answer: In ancient times, public finance was not well developed. Most of the population was not producing and consuming within well-developed market economies, so that income and sales taxes were notefficient. One of the most convenient ways for governments to obtain resources was to set up customposts at borders and tax. Hence international trade was of great policy interest to princes and kings, aswas precise data of their main tax base.Question Status: Previous Edition17) The figure above is the Production Possibility Frontier (PPF) of Baccalia, where only two products areproduced, clothing and wine. In fact Baccalia is producing on its PPF at point A. By and large the people of Baccalia are content, as both their external and internal needs for warmth are satisfied in the mosteconomically efficient manner possible, given their available productive resources (and known technology).How much wine is being produced? How much cloth? If a person in this country wanted to purchase a liter of wine, what would be the price he or she would have to pay?Judging from what you learned in the previous paragraph, can you indicate at which point (if at all) the Community Indifference Curve is tangent to the Production Possibility Frontier? Explain your reasoning.Answer: 6 million liters of wine are being produced.3 million square yards of cloth are being produced.The price of 1 liter of wine is one half of a square yard of cloth.The tangency is at point A. We know this because otherwise the country would not be producing atthe point of maximum economic efficiency.Question Status: Previous Edition18) One day, Baccalia joined the WTO and joined the Global Village. They discovered that in the LWE (LondonWine Exchange), 1 liter of wine is worth 1 square yard of cloth. What is the logical production point they should strive for? (See figure.)Answer: 10 million liters of wine.Question Status: Previous Edition19) Baccalia wishes to enjoy to the fullest from the gains from trade, but is not willing to give up imbibing evenone drop of wine from the 6 million liters they consumed in their original autarkic state. If their newconsumption point is a point we shall designate as point b, describe where this point would be found. (See figure.)Answer: Vertically above point aQuestion Status: Previous Edition20) Where is the Community Indifference Curve family of curves tangent to their new Consumption PossibilityFrontier?Answer: At point b.Question Status: Previous Edition21) How can you prove that Baccalia has in fact gained from the availability of trade, and that their newsituation is superior to the pre-trade situation (with which they were quite content)?Answer: The country was consuming at point a before trade. It is now consuming at point b with trade. Point b represents a superior welfare combination of goods as compared to point a, since at b the country hasmore of each of the goods.Question Status: Previous Edition。