国际经济学(外语)习题3
国际经济学作业答案第三章
Home has a comparative advantage in both products.
The opportunity cost of cloth in terms of widgets in Foreign is if it is ascertained that Foreign uses
neither country will want to export the good in which it enjoys comparative advantage.
both countries will want to specialize in cloth.
Given the following information:
both countries could benefit from trade with each other.
neither country could benefit from trade with each other.
each country will want to export the good in which it enjoys comparative advantage.
each country enjoys superior terms of trade.
each country has a more elastic demand for the imported goods.
each country has a more elastic supply for the supplied goods.
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(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。
国际经济学练习题第三次
国际经济学练习题第三次1. 如果A 国可以用一个工时生产3个单位的X 产品或3个单位的Y 产品，B 国可以用一个工时生产2个单位的X 产品或1个单位的Y 产品，而且如果劳动是唯一的投入，那么（ ）。
A. A 国在两种产品的生产上均具有比较优势B. B 国在两种产品的生产上均具有比较优势C. A 国在两种产品的生产上均具有绝对优势D. B 国在两种产品的生产上均具有绝对优势2. 在GATT 的8轮谈判中，首次包括非关税壁垒内容的是（ ）回合。
A.肯尼迪 B. 狄龙 C.东京 D. 乌拉圭3. 各国参与国际贸易的利益包括（ ）。
A. 分工利益B. 价格差利益C. 贸易利益D. 分工利益和贸易利益4. 我国政府向巴基斯坦提供价值1000万美元的小麦，在国际收支平衡帐户上的贷方应记为（ ）。
A. 经常转移1000万美元B. 商品出口1000万美元C. 官方储备1000万美元D. 资本转移1000万美元 5. 出口商以占领市场为目的，以低于本国市场的价格持续地向国外市场销售商品，这种倾销称为（ ）。
A. 掠夺性倾销B. 间歇性倾销C. 持续性倾销D. 进攻性倾销 6．乌拉圭回合谈判中不包括的三新议题是（ ）。
A. 与贸易有关的知识产权B. 与贸易有关的投资措施C. 纺织品贸易D. 服务贸易 7. 在登录国际收支帐户时，借方项目主要包括（ ）。
A. 商品和劳务输出 B. 资本输入C. 单方面转移收入D. 资本输出8. 外汇市场的参与者中，（ ）是外汇市场的主体。
A. 外汇银行 B. 外汇经纪人 C. 中央银行 D. 外汇持有者 一、单项选择题（每小题1分，共20分）在下列每小题的四个备选答案中选出一个正确的答 案，并将其字母标号填入题干的括号内。
9.在布雷顿森林体系下，不属于国际货币基金组织基本职能的是（）。
A.维持固定汇率体制B.通货膨胀问题C.协助建立多边支付体系D.监督成员国的国际收支10.如果人民币与美元的即期汇率为$1=￥，三个月的远期汇率为$1=￥，这表示（）。
国际经济学题库英文版
国际经济学题库(英文版)Part Ⅰ. Fill in the blank with suitable content.1.Seven themes recur throughout the study of international economics. These are the gains from trade , the pattern of trade , protectionism the balance of payments, exchange rate determination, international policy coordination, international capital market.2. Countries engage in international trade for two basic reasons : comparative advantage and economics of scale .3. 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.4. Labor is the only one factor of production. LC a 、LW a and *LC a 、*LW a are the unit labor requirement in cheese and wine at Home and Foreign, respectively. If aLC/aLW<aLC*/aLW* , Home has a comparative advantage in cheese. C p /W p is the relative price of cheese, whenaLC/aLW< Pc/Pw<aLC*/aLW* Home and Foreign specialize in producing cheese and wine , respectively.5. Labor is the only one factor of production. LC a 、LW a and *LC a 、*LW a are the unit labor requirement in cheese and wine at Home and Foreign, respectively. L and L*are Home’s and Foreign’s laborforce. If LC a /LW a <C p /W p <*LC a /*LW a , the world relative supply of cheese equals （L/aLC ）/(L*/aLW*) . Home’s gains from indirectly producing wine can be shown as (1/aLC)(Pc/Pw)－1/aLW6. In specific factors model(Q M =Q M (K, L M ); Q F =Q F (T, L F ); L=L M +L F ), if Home produces and trades manufactured goods for food , the overall comparison of the five change rate of goods price andfactor price MP ˆ、F P ˆ、K r ˆ、T r ˆ、W ˆinside Home is T F M K r P W P r ∧∧∧∧∧〉〉〉〉 . That is, the real income of capitalists increase, it can be shown as ↑M K P r ↑↑M K P r .7. There are two main reasons why international trade has strong effects on the distribution ofincome. First, resources can ’t move immediately or costlessly form one industry to another Second Industries differ in the factors of production they demand.8. In the Heckscher-Ohlin model,Comparative advantage is influenced by the interaction between relative abundance and relative intensity9.According to stolper-sammelson effect if the relative price of a good rises, the real income of the factor which intensively used in that good will rise, while the real income of the other factor will fall.10.According to 罗布津斯基效应 Rybczynski effect , at unchanged relative goods price, if the supply of a factor of production increases, the output of the good that are intensive in that factor will rise, while the output of the other good will fall.11.According to H-O 模型H-O proposition , owners of a country’s abundant factors gain from trade, but owners of a country’s scare factors lose.12.According to 要素价格均等化命题 Factor price equalization proposition , international trade produces a convergence （收敛） of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. Trade leads to complete equalization of factor prices.（完整的要素价格均等化）13. Three assumptions （假设） crucial to the prediction of factor price equalization are in reality untrue. These assumptions are (1) 两个国家都生产两种产品 both countries produce both goods (2) 两国技术相同 technologies are the same (3) 存在贸易壁垒：天然壁垒和人为壁垒There are barriers to trade: natural barriers and artificial barriers .14.“U.S. exports w ere less capital-intensive than U.S. imports” is known as 里昂惕夫悖论 Leontief paradox .15.The Ricardian Model , the Specific Factor model and the H-O model may be viewed as special cases （特殊情况） of 标准贸易模型 standard trade models16.The standard trade model derives （派生 推导） a world relative supply curve （曲线） fromproduction possibilities and a world relative demand curve from preferences . 17.To export-biased growth, if the decline （下降） of the welfare caused by the deterioration （恶化） of the terms of trade swap over （交换） the rise of the welfare caused by growth, the growth is immiserizing growth (贫困化增长).18. Some economists argued that export-biased growth by poor nations would worsen their term of trade so much that they would be worse off than if they had not grown at all. This situation is known as immiserizing growth (贫困化增长).19.Immiserizing growth demands strict conditions, these conditions are economic growth is strongly export-biased , the growing country is large enough to affect the world price , RS and RD must be very steep .20.According to “ 梅茨勒悖论Metzle paradox ”, t ariffs and export subsidies （补贴） might have perverse （有害的） effects on internal price. 21.In the model of “Monopolistic （垄断） Competition and Trade”, firms of an individual nation face the trade-off between economies of scale and variety of products .22. Marshall argued that there were three main reasons why a cluster of firms （企业集群）may be more efficient than an individual firm in isolation: specialized supplies , labor market pooling ,knowledge spillovers (知识溢出)23.The pattern of intraindustry （产业内） trade itself is unpredicted, history and accident determine the details of the trade pattern.39. When there is external economies （外部经济）, the pattern of international trade is determined by economics of scale interact with comparative advantage .24. The indexes （指标）of intrainindustry trade of a industry can be calculated by the standard formula:25. Interindustry trade and intrainindustry （产业内） trade are the sources of gains from trade . When countries are similar in their relative factor supplies 、scale economies and product differentiations are important , intrainindustry trade is the dominant source （主要来源） of gains from trade, everyone gains from trade. 26.The argument of temporary （暂时的） protection of industries to enable them to gain experience is known as 幼稚产业论the infant industry argument27. If we add together the gains and losses from a tariff, We find the net effect on national welfarecan be separated into two parts: terms of trade gain and efficiency loss 28.Why do countries adopt trade policies such as tariff or import quota, which produce more costs than benefits?—— trade politics29.In the political economy of trade policy （贸易政策的政治经济学） , government are assumed to （被假定为）maximize 政治成功political success rather than 国家福利 national welfare . 30.Deviations from free trade can sometimes increase national welfare. These arguments include the term of trade argument for a tariff and the domestic market failure argument31.According to “Specific rule (对症规则)”, domestic market failure should be corrected by domestic policies aimed directly at the problem’s sources.32. Although market failures are probably common, the domestic market failure argument against free trade should not be applied too freely.First domestic market failure should be corrected bydomestic policies aimed directly at the problems ’ sources ;Second economists cannot diagnose market failure well enough to prescribe policy .33. International trade often produces losers as well as winners. In the actual politics of trade policy,exp 1exp orts importsI orts imports -=-+income distribution is of crucial importance. 集体行动问题The problem of collective action can explain why policies that not only seem to produce more costs than benefits but that also seem to hurt far more voters them they can help can nonetheless be adopted.34.The WTO includes four aspects content: GATT 1994, GATS , TRIPS , TRIMS35.“Nondiscriminatory” principles （非歧视性原则）include most favored nation principle and national treatment principle 36.For preferential （优惠） trading agreements, such as customs union , countries must cede part of their sovereignty to supranational entity （必须放弃部分主权的超国家实体）37.Whether a customs union （关税同盟） is desirable （可取） or undesirable depends on whether it largely leads to trade creation or trade diversion .38.Trade policy in developing countries is concerned with two objectives （涉及两个目标）: promoting industrialization and Coping with the problem of the dual economy . industrialization and coping with the problems of the dual economy. Correspondingly, there are two main arguments for developing countries to pursue policy of import-substituting industrialization. The two arguments are the infant industry argument t and market failure justification for infant industry protection .40. Sophisticated proponents of the infant industry argument have identified two market failures as reasons why infant industry protection may be a good idea: The imperfect capital markets justification and The appropriability argument .Part Ⅱ. True or False (true and false are denoted by “T” and “F”, respectively) 1. If a LW */a L C *<a LW /a L C , Home’s relative productivity in cheese is higher. (T )2. According to the Ricardian model, it is precisely because the relative wage is between the relative productivities that each country ends up with a cost advantage in one good.The good for which *Li a /Li a>w /*w will be produced in Foreign. ( F )3. It is precisely because the relative wage is between the relative productivities that each country ends up with a cost advantage in one good. ( T )4.Long-run convergence(长期收敛) in productivity （生产力）produces long-run convergence inwages. ( T )5. “Korean workers earn only $2.50 an hour; if we allow Korea to export as much as it likes to the United States, our workers will be f orced down to the same level. You can’t import a $5 shirt without importing the $2.50 wage that goes with it.” (F )6.The proposition that trade is beneficial is unqualified(不合格). That is, there is no requirement that a country be “competitive” or that the trade be “fair”. ( T)7. Free trade is beneficial only if your country is strong enough to stand up to foreign competition.( F )8. Foreign competition is unfair and hurts other countries when it is based on low wages. （F ） 9. Trade exploits a country and make it worse off if its workers receive much lower wage than workers in other nations. (F )10.The Ricardian Model predicts an extreme degree(预测一个极端的程度) of specialization(专业化). ( T )11.The Ricardian Model neglects(忽略) the effects on income distribution. (T )12. The basic prediction of the Ricardian model has been strongly confirmed by a number of studies over years. ( T )13. The Ricardian Model predicts that countries tend to export those goods in which their productivity is relative high. ( T )14. We can think of factor specificity as a matter of time. ( T )15.The opportunity cost of manufacture in terms of food is denoted by(表示) MPL M /MPL F . ( F ) 16.A equal proportional change in price have no real effects on the real wage, real income of capital owner and land owner. ( T )17. Trade benefits the factor that is specific to the import-competing sectors of each country buthurts the factor to the export sectors, with ambiguous effects on mobile factors. ( F )18.It is possible in principle for a country’s government to use taxes and subsidies(补贴) to redistribute（重新分配）income to give each individual more of both goods. ( T )19. Although international trade has strong effects on income distribution, there are still possible in principle to make each individual better off. ( T )20. Typically, those who gain from trade in any particular product are a much more concentrated, informed, and organized group than those who lose. ( F )21. Conflicts of interest(利益冲突) within nations are usually more important in determining trade policy than conflicts of interest between nations. ( T )22. Generally, economists do not regard the income distribution effects of trade as a good reason to limit trade. ( T )23.The formulation of trade policy(贸易政策的制定) is a kind of political process(政治进程). ( T )24. “The world’s poorest countries can’t find anything to export. There is no r esource that is abundant—certainly not capital or land, and in small poor nations not even labor is abundant.” ( F ) 25. Wage inequality in U.S. increased between the late 1970s and the early 1990s, economists attribute the change to the growing exports of manufactured goods from NIEs. ( T )26. If the factor-proportion theory was right, a country would always export factors for which the income share exceeded the factor share, import factors for which it was less. ( F )27.The H-O model can predict not only the direction but the volume of trade(贸易量). ( T )28.Factor trade in general turns out to be much smaller than the H-O model predicts. ( T )29. According to an influential recent paper, the H-O model can predict not only the direction but the volume of trade. Factor trade in general turn out to be t he same a s the H-O model predicts.( F )30. Only by dropping the Heckscher-Ohlin assumption that technologies are the same across the countries can the overall pattern of international trade be well predicted by the H-O model.( T )31.If a country want to maximize its national welfare, the consumption point is where the highest isovalue line is tangent to the highest reachable indifference curve. ( T )32.A rise in the terms of trade increases a country’s welfare, while a decline in the terms of trade reduces its welfare. ( T )33.Export-biased growth tends to improve the growing country’s terms of trade at the rest of the world’s expense.( F )34.If the two countries allocate(分配) their change in spending in the same proportions, there will not be a terms of trade effect. ( T )35. If the country receiving a transfer spends a higher proportion of an increase income on its export good than the giver, a transfer raises world relative demand for the recipient’s export good and thus improve its terms of trade. ( T )36.A transfer worsens the donor’s terms of trade if the donor has a higher mariginal propensity to spend on its export good than the recipient(受体). ( T )37.A transfer improves the donor’s terms of trade, worsens recipient’s terms of trade. ( F )38.A transfer of income——say foreign aid——could conceivably leave the recipient worse off. ( T )39.A tariff improves Home’s terms of trade and worsens Foreign’s, while a Home export subsidy worsens Home’s terms of trade and improve Foreign’s.( T )40. Where there is economies of scale, there is imperfectly competitive market structure. ( F )41.If intraindustry trade is the dominant source of gains from trade, everyone gains from trade. ( T )42.Effect on the distribution of income within countries often weight more heavily on policy than terms of trade concerns. ( T )43.The usual market structure in industries characterized by internal economies of scale is monopolistic competition. ( F )44.Today, antidumping(反倾销) may be a device of protectionism. ( T )45.Reciprocal(相互) dumping tends to increase the volume of trade in goods that are quite identical（一致）. ( F )46.It is possible that reciprocal dumping increase national welfare. ( T )47.Strong external(外部) economies tend to “locked in” the existing patterns of interindustry trade, even if the patterns are run counter to(背道而驰) comparative advantage. ( T )48.A trading country can conceivably lose from trade is potentially justify protectionism. ( T )49.Like static external economies, dynamic external economies can lock in an initial advantage in an industry. ( T )50.The stratigic trade policy is related to the model of “Monopolistic competition, differentiate products and intraindustry trade”. ( F )51.The model “Oligopoly, homogeneous products and intraindustry trade” is first developed by Krugman and Helpman . ( F )52.Trade in factors is very much like trade in goods, it occurs for much the same reasons and produces similar results. ( T )53.Trade in factors is an alternative(替代) to trade in goods for the allocation of resources. ( T )54.Wh en a country borrows, it’s intertemporal PPF is biased toward Q P.( F )55.The relative price of future consumption goods Q P is (1+r). ( T )56.The dynamic path of TNC s’ enter foreign market：FDI→Export→Licence. (F )57.Tariffs may have very different effects on different stages of production of a good. ( T )58.Nominal(名义)tariff reflects the effective rate of protection(有效保护率). (F)59.The costs and benefits analysis of a tariff is correct if only the direct gains to producers and consumers in a given market accurately measure the social gains. ( T )60.The costs and benefits analysis of a tari ff is correct if only a dollar’s worth of benefits to each group is the same. ( T )61.A VER is exactly like an import quota which the license are assigned to foreign government.( T )62.VER S are much more costly than tariffs. ( T )63.Local content laws have been widely used by developing countries trying to shift their manufacturing from assembly back into intermediate goods. ( T )64. A political argument for free trade reflects the fact that a political commitment to free trade may be a good idea in practice even though there may be better policies in principle. ( T )65.Deviations from free trade can sometimes increase national welfare. (T )66.For a sufficiently small tariff the terms of trade gain of small country must outweigh theefficiency loss.( F )67.The domestic market failure argument against free trade is intellectually impeccable but of doubtful usefulness. (F )68. “U.S. farm exports don’t just mean higher incomes for farmers — they mean higher income for everyone who sell goods and services to the U.S. farm sector”. This remark is a potential valid argument for export subsidy. ( T )69.Most deviations from free trade are adopted not because their benefit exceed their costs but because the public fails to understand their true costs. ( T )70.If there is marginal social costs rather than marginal social benefits, domestic market failure reinforce the case for free trade. ( T )71.The electoral competition model believes political competition will drive both parties to propose tariffs close to t M, the tariff preferred by the medium voter. ( T )72.The problem of collective action can best be overcome when a group is large and/or well organized. （F ）73.Trade policy that produce more costs than benefits, hurt more consumers than producers can’t be adopted.( F )74. As a violation of the MFN(“most favored nation”) principle, the WTO for bids preferential trading agreements in general, but allows them if they lead to free trade between the agreeing countries. ( T )75.The infant industry argument violates (违背)the principle of comparative advantage ( T )76.Import substituting industrialization(进口替代工业化) violates the principle of comparativeadvantage.( T )77. “Import quotas on capital-intensive industrial goods and subsidies for the import of capital equipment were meant to create manufacturing jobs in many developing countries. Unfortunately, they have probably helped create the urban unemployment problem.” ( T )78.The East Asian Miracle proved that industrialization and development must be based on import substitution. ( F )79.It is impossible for country to make itself worse off by joining accustoms union(联盟). ( F ) PartⅢ. Choose the ONLY one collect answer in each question.1. An important insight（启示）of international trade theory is that when countries exchange goods and services one with the other itA.is always beneficial to both countries.B.is usually beneficial to both countries.C.is typically beneficial only to the lowwage trade partner country .D.is typically harmful to thetechnologically lagging country.E.tends to create unemployment in bothcountries.2. If there are large disparities（差距）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.3.Cost-benefit analysis of international trade（成本收益分析）A.is basically useless.B.is empirically intractable.C.focuses attention on conflicts of interestwithin countries.D.focuses attention on conflicts of interestsbetween countries.E.None of the above.4. A primary reason why nations conduct international trade is because of differences inA.historical perspective.B.location.C.resource availabilities.D.tastes.E.incomes. 5. Arguments for free trade are sometimes disregarded（忽视）by the political process becauseA.economists tend to favor highly protecteddomestic markets.B.economists have a universally accepteddecisive power over the political decisionmechanism.C.maximizing consumer welfare may not bea chief priority（优先）for politicians. 扩大消费者福利不是最主要的D.the gains of trade are of paramountconcern to typical consumers.E.None of the above.6.Proponents（支持）of free trade claim allof the following as advantages except＿＿A. relatively high wage levels for all domestic workers.B. a wider selection of products for consumersC. increased competition for world producers.D. the utilization of the most efficient production processes.E. None of the above.In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirementsA.oneB.twoC.threeD fourE five7. A country engaging in trade according tothe principles of comparative advantagegains from trade because itD.is producing exports indirectly moreefficiently than it could alternatively.E.is producing imports indirectly moreefficiently than it could domestically.F.is producing exports using fewer laborunits.G.is producing imports indirectly usingfewer labor units.H.None of the above.8. A nation engaging in trade according tothe Ricardian model will find itsconsumption bundle（消费约束）A.inside its production possibilitiesfrontier.B.on its production possibilities frontier.C.outside its production possibilitiesfrontier（生产可能性边界）.D.inside its trade-partner's productionpossibilities frontier.E.on its trade-partner's productionpossibilities frontier.9.If a very small country trades with a verylarge country according to the Ricardianmodel, thenA.the small country will suffer a decreasein economic welfare.B.the large country will suffer a decreasein economic welfare.C.the small country will enjoy gains fromtrade.D.the large country will enjoy gains fromtrade.E.None of the above.10.If the world terms of trade for a countryare somewhere between the domestic cost ratio of H and that of F, thenA.country H but not country F will gainfrom trade.B.country H and country F will both gainfrom trade.C.neither country H nor F will gain fromtrade.D.only the country whose governmentsubsidizes its exports will gain.E.None of the above.11.If a production possibilities frontier isbowed out (concave to the origin) )(上凸，凹面向原点), then production occursunder conditions ofA.constant opportunity costs.B.increasing opportunity costs.C.decreasing opportunity costs.D.infinite opportunity costs.E.None of the above.12.If two countries have identical productionpossibility frontiers, then trade betweenthem is not likely ifA.their supply curves are identical.B.their cost functions are identical.C.their demand conditions identical.D.their incomes are identical.E.None of the above.13.Assume that labor is the only factor ofproduction and that wages in the UnitedStates equal $20 per hour while wages inJapan are $10 per hour. Production costs would be lower in the United States ascompared to Japan ifA.U.S. labor productivity equaled 40 unitsper hour and Japan's 15 units per hour.B.U.S. productivity equaled 30 units perhour whereas Japan's was 20.C.U.S. labor productivity equaled 20 andJapan's 30.D.U.S. labor productivity equaled 15 andJapan's 25 units per hour.E.None of the above.14.International trade has strong effects onincome distributions. Therefore,international tradeA.is beneficial to everyone in both tradingcountries.B.will tend to hurt one trading country.C.will tend to hurt some groups in eachtrading country.D.will tend to hurt everyone in bothcountries.E.will be beneficial to all those engaged ininternational trade.15.If the price of the capital intensive productrises, wages willA.rise but by less than the price of thecapital-intensive product.（工资刚性，变动较慢）B.rise by more than the rise in the price ofthe capital-intensive product.C.remain proportionally equal to the priceof the capital-intensive product.D.fall, since higher prices cause lessdemand.E.None of the above.16.If Australia has more land per worker, andBelgium has more capital per worker, then if trade were to open up between these two countries,A.the real income of capital owners inAustralia would rise.B.the real income of labor in Australiawould clearly rise.C.the real income of labor in Belgiumwould clearly rise.D.the real income of landowners inBelgium would fall. 贸易知识使一国丰富要素部门得利，稀缺要素部门受损）E.the real incomes of capital owners inboth countries would rise.17.If the price of manufactures and the priceof food increase by 25%, thenA.the economy moves down its aggregatesupply curve.B.the economy moves back along itsaggregate demand curve.C.the relative quantities（相对数量）ofmanufactures and food remainunchanged.D.the relative quantities of productschange by 25%.E.None of the above.18.If the price of manufactures rises, thenA.the price of food also rises.B.the quantity of food produced falls.C.the quantity of both manufactures andfood falls.D.the purchasing power of labor in termsof food falls.E.None of the above.18.Groups that lose from trade tend to lobby(游说)the government to（贸易失利者游说政府）A.shift the direction of comparativeadvantage.B.abolish the Specific Factor model frompractical application.C.provide public support for the relativelyefficient sectors.D.provide protection for the relativelyinefficient sectors.E.None of the above.19.The specific factor model argues that ifland can be used both for food productionand for manufacturing, then a quota thatprotects food production willA.clearly help landowners.B.clearly hurt landowners.C.clearly help manufacture but hurt foodproduction.D.have an ambiguous effect on the welfareof landowners.E.None of the above.20.If, relative to its trade partners, Gambiniahas many workers but very little land andeven less productive capital, then,following the specific factor model, weknow that Gambinia has a comparativeadvantage inA.manufactures.B.food.C.both manufactures and food.D.neither manufactures nor food.E.None of the above.21.In the 2-factor, 2 good Heckscher-Ohlinmodel, an influx of workers from acrossthe border would（劳动者越过国境流入）A.move the point of production along theproduction possibility curve.B.shift the production possibility curveoutward, and increase the production ofboth goods.C.shift the production possibility curveoutward and decrease the production ofthe labor-intensive product.D.shift the production possibility curveoutward and decrease the production ofthe capital-intensive product.（资本密集型产品产量下降，扩展了生产可能性曲线，相当于扩展了消费的总量）E.None of the above.22.The 1987 study by Bowen, Leamer andSveikauskasA.supported the validity of the LeontieffParadox.B.supported the validity of theHeckscher-Ohlin model.ed a two-country and two-productframework.D.demonstrated that in fact countries tendto use different technologies.E.proved that the U.S.'s comparativeadvantage relied on skilled labor.23.The Case of the Missing Trade refers toA.the 9th volume of the Hardy Boys'Mystery series.B.the fact that world exports does notequal world imports.C.the fact that factor trade is less thanpredicted by the Heckscher-Ohlintheory.D.the fact that the Heckscher Ohlin theorypredicts much less volume of trade thanactually exists.E.None of the above.24.One way in which the Heckscher-Ohlinmodel differs from the Ricardo model ofcomparative advantage is by assumingthat _技术相同__ is (are) identical in all。
国际经济学第三章课后习题答案
2.本国共有1200单位的劳动，能生产两种产品：苹果和香蕉。
苹果的单位产品劳动投入是3，香蕉的单位产品劳动投入是 2.a。
画出本国的生产可能性边界。
b.用香蕉衡量的苹果的机会成本是多少？c.贸易前，苹果对香蕉的相对价格是多少？为什么？a．b．c．在贸易前,当劳动是生产的唯一要素，且在竞争日益激烈的经济环境中，供给决策是由个人获得的最大收益决定时，只有当时，这两种货物才能被生产。
所以，教科书问题的答案1. a。
生产可能性曲线是一条直线,截获苹果轴在400(1200/3)和香蕉轴上600(1200/2)。
b。
机会成本的苹果,香蕉是3/2而言。
它需要3个单位的劳动收获一个苹果,但是只有两个单位的劳动收获一根香蕉。
如果一个人foregoes收获一个苹果,这释放3个单位的劳动。
这3个单位的劳动就能够被用来收获1.5香蕉。
c。
劳动力流动,保证了每一个环节上常见的工资和竞争保证了货物的价格等于他们的生产成本。
因此,相对价格的相对成本相等时,它等于倍的工资单位劳动条件为苹果的工资倍除以单位劳动要求香蕉。
由于工资是平等的交叉,价格比率之比相等单位劳动要求,为苹果每2是3个香蕉。
2,3,6,7,11,14]。
生产可能性曲线是线性的,在苹果和拦截800/5相当于160(轴)和拦截踩在香蕉轴等于800(800/1)。
b。
世界相对供给曲线,建立确定供应苹果相对于供应的香蕉在每个相对价格。
最低的相对价格,比如苹果是收获3苹果每2个香蕉。
供给曲线是平的相对这个价钱。
苹果的最大数量的价格提供3/2在家里是400所提供的同时,以这样的价格,外国的丰收,800香蕉和没有苹果给最大相对供应以这个价格的1 / 2。
这种相对供应价格之间3/2适用任何和五日。
的价格是5,两国将在收成苹果。
供给曲线是又相对平坦的5。
因此,相关的供给曲线是一步成型,公寓,租金价格相对而言3/2供应为0到1 / 2,垂直的,从3/2数量相对半上升到5元,然后再从半无限地来讲一个。
international(国际经济学)课后习题及答案
international（国际经济学）课后习题及答案----------------------- Page 1-----------------------Review Questions and Condensed Answers forInternational Trade TheoriesChapter 1 World Trade and the National EconomyReview Questions::::1( What features distinguish international from domestic transactions?2( What can you say about the growth of world trade in both nominal and real terms? Was itfaster than the growth of output?3( Evaluate the statement,” the United States is a closed economy, hence foreign trade is ofno consequence to it.”4( Distinguish between export industries, import-competing industries and nontraded goods.Give examples of each.5( Using the figure in table 1-3, what can you say about the trade structure of the USA andJapan.Condensed Answers to Review Questions::::1. The text discusses ways that international transactions differfrom domestic ones.i. International trade requires that transactions be conductedbetween twocurrencies mediated by an exchange rate. Domestic transactions are conductedin a single currency.ii. Commercial policies that operate to restrict international transactions cannot, ingeneral, be imposed on domestic trade. Such policies include tariffs, quotas,voluntary export restraints, export subsidies, and exchange controls.iii. Countries pursue different domestic macroeconomic policieswhich result indivergent rates of economic growth, inflation, and unemployment.iv. More statistical data exist on the nature, volume, and value of internationaltransactions than exist in domestic trade.v. Factors of production are more mobile domestically than internationally.vi. Countries exhibit different demand patterns, sales techniques,and marketingrequirements. Many of these are due to culture and custom. Someresult fromdifferences in government regulations. Included here are health, safety,environmental, and technical rules.2. The real volume of world exports grew at an annual rate of more than 6 percent between1950 and 2000. Global output grew at an annual rate of 4 percent. Export growth inexcess of output growth reflects the increased openness to trade of many countries.3. The United States is a relatively closed economy since the share of trade in GDP issmaller than that of most other industrial nations. In 2000, U.S. exports of goods andservices were 11 percent of GDP. The U.S. economy is less dependent on the foreignsector than other major economies, but to say that foreign trade is of no consequence is anexaggeration. The U.S. economy has become increasingly open and, therefore, moreimpacted by trade developments over time. This trend is likely to continue. Curtailingimports would, for example, have a big effect on consumers' ability to buy some goods----------------------- Page 2-----------------------(e.g. tropical products) and would raise the prices of others. The absence of certain keycommodities and material inputs would greatly disrupt areas of U.S. industry.4. a. Export industries send a substantial share of their output abroad. Ratios ofexports to GDP are much higher than the average ratio for all industries. Netexporting industries are those for which exports exceed imports. U.S. netexporting industries include farm products, chemicals, certain types of machinery,and aerospace products.b. Import-competing industries are domestic industries that sharethe domesticmarket with a substantial import presence. These activities haveratios ofimports to GDP that are much higher than the average ratio for all industries.U.S. import-competing industries include fuels, automobiles,clothing, footwear,and iron and steel.c. Nontraded goods are those which, because of their nature and characteristics, arenot easily exported or imported. Examples are hair-dressing, movie theaters,meals, construction activity, and health-care.5. Table 1.3 contains figures on the trade structure of the U.S. and Japan. The U.S. is a netexporter of food, certain ores, chemicals, and other machinery and transport equipment,and is a net importer of raw materials, mining products, fuels, nonferrous metals, iron andsteel, semimanufactures, office and telecommunications equipment, automotive products,textiles and clothing, and other consumer goods. Japan is a net exporter of iron and steel,chemicals, semimanufactures, office and telecommunications equipment, automotiveproducts, other machinery and transport equipment, and other consumer goods. Importsexceed exports in food, raw materials, and textiles and clothing.----------------------- Page 3-----------------------Chapter 2 Why Nations TradeReview Questions::::1( a. In what sense are the cost data of footnote 4 related to the figures of scheme 1?b. Based on the figures of footnote 4, determine the:Direction of trade once it develops.Limits to mutually beneficial trade.Limits to a sustainable exchange trade.2. Evaluate the following statements:a. In international trade, domestic cost ratios determine the limits of mutually beneficial trade,whereas demand considerations show where, within these limits, the actual exchange ratio will lie.b. Comparative advantage is a theoretical concept. It cannot be used to explain any real-worldphenomena.c. The opening up of trade raises the price of export goods; hence trade is inflationary.d. The concept of absolute advantage offers explainations for East Germany’s high unemploymentrates in the 1990s.3. a. Use the theory of comparative advantage to explain why it pays for:The USA to export grains and import oil.Russia to export oil and import grains.b. Why does the popular press believe that grain exports are inflnationary? What is wrongwith this porposition?Condensed Answers to Review Questions:1. a. Scheme 1 is based on labor productivity comparisons, while Footnote 4presentsper unit cost data. Production cost ratios are inversely related to productivitymeasures.b. i. Textiles will be exported from the U.K. and wheat from the U.S.ii. The U.S. will trade only if one yard of textiles costs less than3 bushels ofwheat. The U.K. will trade only if 1 yard of textiles can be exchangedfor more than 2 bushels of wheat.iii. The value of the ? must be between $1 and $1.502. a. Consider Figure 2.2. The domestic cost ratios define limits of mutually beneficialtrade. Within the region of mutually beneficial trade the actual exchange rate willbe determined by the relative intensity of each country's demand for the othercountry's product. A full analysis requires an understanding of reciprocal demandcurves, but the following general principle might help heuristically. If the Britishare more eager to buy U.S. wheat than the Americans are eager for British textiles,the exchange ratio falls close to the U.K. domestic cost ratio and the U.S. can beviewed as capturing a greater share of the gains from trade.b. Since the real world does not conform to the convenienttwo-country, two-goodassumptions, the simple theoretical model is not immediately applicable.However, we can generalize the model to many goods and many nations. Thefundamental truth remains. Countries export those goods in which their relativeproduction costs are lower and import those goods for which the relative costs arehigher.----------------------- Page 4-----------------------c. While trade tends to raise the prices of exportables in the domestic economy, theeffect of trade is to lower the average price level of all goods. Trade givesconsumers an opportunity to consume at lower world prices. Many goods will becheaper when purchased from foreign supply sources. Trade also conveysprocompetitive effects, stimulates the adoption of new technologies, and allowsfirms to achieve efficient scale production levels. Thus, trade is anti-inflationary.d. The reunification of the Germany economy in 1990 was undertaken on the basisthat a unit of the deutschmark, the West German currency, should be equal in valueto a unit of the ostmark, the East German currency. At this exchange rate, goodsproduced in East Germany were almost universally more expensive to producethan their counterparts in the West. Labor productivity in East Germanmanufacturing was found to be about 35% of the West German level. Underthese conditions the East German manufacturing sector collapsed. Investors werereluctant to purchase East German factories and large scale closures and dismissalsresulted.3. a. The U.S. enjoys a comparative advantage in grains. It also produces oil, but will gain byspecializing in grain production and using proceeds of exported agriculturalproducts to purchase oil from nations that produce oil relatively more efficiently.Russia is relatively more efficient in the production of oil and will gain bypurchasing grain from the U.S. in exchange for oil.b. The popular press asserts that by exporting grain from the U.S. (say to the former U R)we are lowering the domestic supply of grain and raising the domestic U.S. price of grain. Sincegrain is an important ingredient in many food products, grain exports are believed to increase theprice of those products. However, the price of grain is determined in world markets. U.S.exports alone cannot permanently raise the domestic U.S. price. If the domestic U.S. grainpricerose above the world price, the U.S. would be a net importer of grains and the domestic price wouldfall.----------------------- Page 5-----------------------Chapter 3 The Commodity Composition of TradeReview Questions::::1( Does the factor proportions theory provide a good explanation of intraindustry trade? Ifnot, can you outline an alternative explaination for the growing phenomenon?2( Explain the dynamic nature of comparative advantage using Japan’s experience as anexample.3( Once the United States acquires a comparative advantage in jet aircraft production it canbe sure of a dominant position in the global market forever. Do you agree with thisstatement? Explain.Condensed Answers to Review Questions1. The factor proportions theory is better suited to explain interindustry trade, or the exchangebetween countries of totally different commodities, than intraindustry trade, which is thetwo-way trade of similar commodities. The growth of intraindustry trade is greatest inimperfectly competitive industries characterized by economies of scale. Here, scaleeconomies force firms in each industry to specialize in a narrow range of products withineach industry to achieve efficient scale operations. Intraindustry specialization combinedwith diverse consumer tastes gives rise to two-way trade within the same industryclassification.2. Japan's comparative advantage in the immediate post-war period was in labor intensivegoods. The high level of saving and investment transformed Japan into a relatively capitalabundant country. Its advantage in the labor-intensive industries was lost as wages rose.Moreover, Japan increased its technological capability through high spending on R&D.Now Japan's advantage lies in the production of high-tech, capital intensive goods similar tothe U.S. This in large part explains the increasing trade friction between the twocountries.3. Once the U.S. acquires a comparative advantage in jet aircraft, it is likely to enjoy a dominantposition in the global marketplace for years, but not forever. Jet aircraft production is characterizedby huge economies of scale due largely to research and development costs. High capitalrequirements and scale economies pose large entry barriers. It is extremely difficult for a countryto enter into aircraft production once the U.S. has the lead. The new firm would initially have asmall market share and would be unable to compete on a cost basis. The new market entrant wouldrequire considerable government support and encouragement. This was the case with the EuropeanAirbus.----------------------- Page 6-----------------------Chapter 4 Protection of Domestic Industries: The TariffReview Questions::::1( A tariff on textiles is equivalent to a tax on consumers and a subsidy to the textileproducers and workers.2( Explain the concept of effective rate of protection.a. What does the effective rate on final goods depend upon and how?b. In what way does the effective rate analysis help to illuminate these policy issues:Deepening of production in LDCsEscalation of tariff rates by degree of processing in industrial countries3. A tariff lowers the real income of the country, while at the same time it distributes income fromconsumers to the governments and to the import-competing industry.Condensed Answers to Review Questions:1. The effect of a tariff is comparable to the combined effects of a tax on consumers and a subsidy toproducers. Using Figure 4.3, one can show a tariff results in a transfer of resources from theconsumers (who lose P P fd ) to the producers (who gain P P ec). With a non-prohibitive tariff, the2 3 2 3government will also gain revenue efmn. Whether the two schemes are equivalent depends on theexact nature of the tax and subsidy scheme.2. a. The effective rate of protection measures the percentage increase in domesticvalue added per unit of output made possible by tariffs on the output and onmaterial inputs. Determinants of the effective rate include thetariff on the finalproduct, tariffs on the imported material inputs, and the free trade value added perunit of output which is influenced by intermediate input coefficients. Effectiverates are positively related to the tariff on the final product and negatively related toboth tariffs on imported inputs and the free trade value added. A derivation ofthe formula appears in footnote 10, and footnote 12 interprets that formula.b. "Deepening" of production in LDCs involves import substitution industrializationpolicy. A final assembly plant is given a protective tariff and imported inputs areaccorded duty free treatment. As a second stage, the LDC begins to deepenproduction by manufacturing inputs and according them protection. By imposingtariffs on imported inputs, the LDC is reducing effective protection for the finalgood.Because of relatively high rates of protection on finished goods and low protectionon unfinished goods and raw materials, effective tariff rates in developed countriesmay be as much as double their nominal counterparts. Developing countriesmaintain that such tariff structures fatally harm their efforts to increase exports offinished manufactures.3. Again using Figure4.3, the loss in real income is shown by triangles cen and mfd.Redistribution has been given in 8a.----------------------- Page 7-----------------------Chapter 5 Nontariff Barriers (NTBs) to TradeReview Question::::Suppose the USA steel industry is seeking protection from foreign imports. Compare andcontrast the following measures of restricting steel industries: a tariff, a quota, and voluntaryexport restraints.Condensed Answers to Review Question:There are a variety of ways in which a tariff may be considered to be less harmful than an equivalentquota:i. The revenue effect. Tariffs provide revenue. Quotas do not automatically providerevenue. Under a quota, revenue accrues to holders of import licenses.Depending on the quota scheme, licenses may be held by domestic importers, foreign exporters, foreign governments, or domestic officialswho may use them to encourage bribery. Only through auctioning or selling licenses can the government capture quota rents.ii. Performance under demand and supply changes. Any amount of imports can enterunder a tariff, but with a quota import volumes are fixed. When demandgrows, or there is a shortfall in supply, the quota does not permit a quantityadjustment. The domestic price can depart significantly from the worldprice. Under a tariff, the domestic price cannot rise above the worldprice by more than the tariff rate. Thus, a tariff is less harmful than aquota.iii. Impact on Exporters. When a tariff is levied on an imported good it is usually rebatedwhen the good is exported. The same is not true for a quota. Quotas maytherefore be more harmful to export performance.iv. Curbing monopoly power. Quotas curtail monopoly power less than an equivalent tariff.v. Terms of Trade Effects. Quotas provide no incentive for exporting nations to absorb partof the price increase; tariffs do if the exporting nation wishes to retainmarket share.vi. Quality Upgrading. Quotas give an incentive for the exporting country to engage in qualityupgrading. Ad valorem tariffs do not provide an incentive for this behavior but specific duties do.VERs share all of the undesirable effects of quotas. When the exporter does the restricting, there isno opportunity to sell import licenses. Quota rents accrue toforeign exporters orgovernments under a VER. Therefore, VERs are more costly to society than anequivalent quota with licenses sold or a tariff. Quantitative restrictions like VERsare discriminatory. VERs are also hard to monitor. Since shipments from thirdparty countries are unrestricted, transshipment throughnonrestricted countries is amajor problem. One advantage of VERs is they do not invite retaliation sincethey are profitable to foreign exporters and governments.Tariffs, quotas and VERs may be equivalent in terms of effects on the domestic price and thevolumeof imports. This may be shown using diagram 5-1. However, there are important differencesdiscussed in 1a. above.----------------------- Page 8-----------------------Chapter 6 International and Regional Trade Organizations Among Developed CountriesReview Questions::::1. Explain the following terms:Trade creation of a customs union.Trade diversion of a customs union.2.What are the conflicts between the WTO and the environmental movement?Condensed Answers to Review Questions:1. Trade creation refers to the replacement of high cost production in each member by importsfrom another member. This effect is favorable to world welfare. Tradediversion is the diversion of trade from a nonmember to a higher cost member.This is unfavorable because it reduces worldwide resource allocative efficiency(See Figure 4-8).The basic approach to calculating welfare effects associated with customs union formation is toconstruct hypothetical estimates of what member country trade patterns wouldhave been in the absence of integration, comparing these with actual trade flows,and attributing any difference to integration. Effects ofintegration can be isolatedby using trade flow data pertaining to nonmember "normalizer" countries over thesame period to suggest what trade patterns would have been expected for memberswithout integration. Assume, in the absence of integration, both total (internalplus external) and external member imports would have grown at the same rates asthe corresponding imports in the normalizer. The normalizer's external importsrefer to its imports from third countries (i.e. intra-trade is excluded). Thenormalizer's internal imports are imports of normalizer countries from each other(e.g. intra-trade). The preintegration member country total import level ismultiplied by the corresponding normalizer import growth rate to yield an estimateof hypothetical total imports without integration. When compared with actualtotal imports, an estimate of trade creation is obtained. Trade diversion isestimated by multiplying the member country preintegration external import levelby the normalizer's rate of change of external imports to yield hypothetical membercountry external imports. The excess of hypothetical over actual external importsconstitutes trade diversion. The European Union (EU) is a customs unioncomprised of 15 West European countries.2. WTO rules often conflict with both international environmental agreements and nationalenvironmental laws. For example, a 1991 GATT panel upheld a Mexican challenge to aU.S. law banning importation of tuna caught indolphin-killing purse-seine nets.GATT/WTO provisions are concerned with products and not production methods.----------------------- Page 9-----------------------Chapter 7 International Mobility of Productive FactorsReview Question::::What is the meaning of DFI? List some of the factors that induce companies to invest abroad.Condensed Answers to Review Question:Direct Foreign Investment refers to international capital movement that gives a company controlover a foreign subsidiary. It may be the purchase of an existing company, a substantial part of itsshares, or the establishment of a new enterprise. It should be contrasted with portfolio investmentthat gives, by and large, no control over foreign assets.The motives are diverse and any particular investment may involve one or more of the followingi. investment in extractive industries to secure raw material supplies;ii. investment in manufacturing industry to take advantage of cheaper foreign labor;iii. to locate production close to foreign markets and avoid transportation costs;iv. to take advantage of incentives offered by host countries;v. to circumvent tariff barriers;vi. changes in the exchange values of currencies; andvii. marketing considerations.。
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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.。