中南财大国际经济学双语期末试卷

中南财经政法大学——学年第—-学期期末考试试卷

国际经济学（闭卷）卷

学院专业年级班级课堂号姓名

一二三四五六总分

得分评卷人

（单选，共20题，每题2分）

1, Under Ricardian model, If one country's wage level is very high relative to the other's (the relative wage exceeding the relative productivity ratios), then ( )

A.it is not possible that producers in each will find export markets profitable.

B.it is not possible that consumers in both countries will enhance their respective

welfares through imports.

C.it is not possible that both countries will find gains from trade.

D.it is possible that both will enjoy the conventional gains from trade.

2, According to Ricardo, a country will have a comparative advantage in the product in which its ( )

https://www.360docs.net/doc/389731130.html,bor productivity is relatively low.

https://www.360docs.net/doc/389731130.html,bor productivity is relatively high.

https://www.360docs.net/doc/389731130.html,bor mobility is relatively low.

https://www.360docs.net/doc/389731130.html,bor mobility is relatively high.

3, If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries, ( )

A.Australia would export the land-intensive product.

B.Belgium would import the capital-intensive product.

C.Both countries would export some of each product.

D.Trade would not continue since Belgium is a smaller country.

4, Under The Specific Factors model, At the production point the production possibility frontier is tangent to a line whose slope is ( )

A.the price of manufactures.

B.the relative wage.

C.the real wage.

D.the relative price of manufactures.

5, The Heckscher-Ohlin model predicts all of the following except:

A.which country will export which product. ( )

B.which factor of production within each country will gain from trade.

C.the volume of trade.

D.that wages will tend to become equal in both trading countries.

6, If P C / P F were to increase in the international marketplace, then ( )

A.all countries would be better off.

B.the terms of trade of cloth exporters improve.

C.the terms of trade of food exporters improve.

D.the terms of trade of all countries improve.

7, When the production possibility frontier shifts out relatively more in one direction, we have ( )

A.biased growth.

B.unbiased growth.

C.immiserizing growth.

D.balanced growth.

8, If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must ( )

A.cause retaliation on the part of its trade partners.

B.harm Slovenia's real income.

C.improve Slovenia's real income.

D.improve the real income of its trade partners.

9, A lower tariff on imported steel would most likely benefit ( )

A.foreign producers at the expense of domestic consumers.

B.domestic manufacturers of steel.

C.domestic consumers of steel.

D.workers in the steel industry.

10, If the poor AID(aid of international development) recipient countries have a higher marginal propensity to consume each and every product than does the United States, then such aid will ( )

A.worsen the . terms of trade.

B.improve the . terms of trade.

C.leave the world terms of trade unaffected.

D.worsen the terms of trade of both donor and recipient countries.

11, A large country experiencing import-biased economic growth will tend to experience ( )

A.no change in terms of trade.

B.deteriorating terms of trade.

C.improving terms of trade.

D.immiserizing terms of trade.

12, The most common form of price discrimination in international trade is ( )

A.non-tariff barriers.

B.V oluntary Export Restraints.

C.dumping.

D.preferential trade arrangements.

13, An appreciation of a country’s currency ( )

A.decreases the relative price of its exports and lowers the relative price of

its imports.

B.raises the relative price of its exports and raises the relative price of its

imports.

C.lowers the relative price of its exports and raises the relative price of its

imports.

D.raises the relative price of its exports and lowers the relative price of its

imports.

14, Under Purchasing Power Parity, ( )

A.E$/E = P i US/ P i E.

B.E$/E = P i E / P i US.

C.E$/E = P US / P E.

D.E$/E = P E / P US.

15, Under the monetary approach to the exchange rate, ( )

A. a reduction in the money supply will cause immediate currency

depreciation.

B. a rise in the money supply will have no effect on exchange rate.

C. a rise in the money supply will cause immediate currency appreciation.

D. a rise in the money supply will cause a proportional long-run currency

depreciation.

16, When EP*/P rises, ( )

A.IM will rise.

B.IM may rise or fall.

C.IM will fall.

D.IM is not affected.

17, In the short run, a temporary increase in fiscal policy causes ( )

A.a shift of the DD curve to the left, an increase in output, and

currency appreciation.

B. a shift of the DD curve to the right, an increase in output, and

currency appreciation.

C. a shift of the DD curve to the right, an increase in output, and

currency depreciation.

D.a shift of the DD curve to the left, a decrease in output, and

currency depreciation.

18, How does a rise in real income affect aggregate demand? ( )

A.Y ↑→ Yd ↑→Im ↑→CA ↓→AD ↓, but Y ↑→ Yd ↑→ C ↑→ AD ↑ by more.

B.Y ↑→ Yd ↑→Im ↓→CA ↓→AD ↓, but Y ↑→ Yd ↑→ C ↑→ AD ↑ by more.

C.Y ↑→ Yd ↑→Im ↑→CA ↑→AD ↑, and Y ↑→ Yd ↑→ C ↑→ AD ↑.

D.Y ↑→ Yd ↑→Im ↑→CA ↓→AD ↓, but Y ↑→ Yd ↑→ C ↑→ AD ↑ by less. 19, Under fixed rates, which one of the following statements is the most accurate? ( )

A.Monetary policy can affect only output.

B.Monetary policy can affect only employment.

C.Monetary policy can affect only international reserves.

D.Monetary policy can not affect international reserves.

20, Under fixed exchange rate, which one of the following statements is the most accurate? ( )

A.Devaluation causes a rise in output.

B.Devaluation causes a decrease in output.

C.Devaluation has no effect on output.

得分评卷人

共5题，每题6分)

1,An Economy can produce goods A using labor and capital and goods B using labor and land. Calculate the effects of the fall in the relative price of goods B on the income of the specific factors capital and land.

2, suppose that one country subsidizes its exports and the other country imposes a countervailing tariff that offsets its effect, so that in the end relative price in the second country are unchanged. What happens to the terms of trade? What about welfare in the two countries?

3, Describe the pattern of trade under H-O model.

4, International trade leads to complete equalization of factor prices. Discuss.

5,What is the Fisher Effect? Provide an example.

6,Suppose E is fixed at E0 and that the asset markets are in equilibrium.

Suddenly output rises. What monetary measures keep the current exchange rate constant given unchanged expectations about the future rate?

得分评卷人

（共1题，10分）

A small country imports peanuts at the price of $10 per bag. The demand curve is D=400-10P. The supply curve is S=50+5P

Determine the free trade equilibrium. Then calculate and graph the following effects: A: The increase in the domestic price

B: The quota rents

C: The consumption distortion loss

D: The production distortion loss.

得分评卷人

四．Essay Questions（共2题，每题10分）

1,Comparing the interindustry trade and intraindustry trade.

2, Construct a table that will summarize the effects of money market and output market changes on the long-run nominal dollar/ euro exchange rate.

中南财经政法大学---------学年第----学期期末

考试答案和评分标准

课程名称：《国际经济学》（）卷

课程代号：_02013020_

考试形式：闭卷

使用对象：

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 题

号

答

D B A D C B A D C B C C D C D B B A C A 案

1,Because good B uses land, a fall in its relative price will result in a fall in rental rates on land, and an increase in the return to capital.

2,The first country is worse off by subsidy and a foreign tariff while the second one is better off by subsidy in the first one and its own tariff.

3, Countries tend to export goods whose production is intensive in factors with which they are abundantly endowed.

4,This statement is typically "true…but". Under a stri ct and limited set of assumptions, such as the original Heckscher-Ohlin model which excludes country specific technologies; non- homothetic tastes; factor intensity reversals; large country differences in (relative) factor abundances, and more factors than goods, then it may be demonstrated that internal consistency demands that the above stated sentence is "true". However, the minute one relaxes any of the above listed assumptions one may easily identify solutions, which contradict the factor price equalization theorem.

5, All else equal, a rise in a country’s expected inflation rate will eventually cause an equal rise in the interest rate that deposits of its currency offer. Similarly, a fall in the expected inflation rate will eventually cause a fall in the interest rate.

6, ?Since output rises, demand for domestic money rises; this increase in money demand normally pushes the domestic interest rate upwards. To prevent appreciation of home currency (given E0is expected) the central bank buys foreign assets in foreign exchange market.

?This eliminates excess demand for domestic money because the central bank issues money to pay for the foreign assets it buys.

?The bank increases the money supply in this way until asset markets clear with E = E0 and R = R*.

三．计算题

A: D-S=50,P=20（3分）

B: (20-10)*50=500（3分）

C: 100*10*=500（2分）

D:50*10*=250（2分）

四．论述题

1, Interindustry trade reflect comparative advantage while intraindustry trade does

not reflect comparative advantage.（4分）The pattern of intraindustry trade itself is unpredictable while interindustry trade is predictable.（3分）The relative importance of intraindustry and interindustry trade depends on how similar countries are.（3分）change Effect on the long-run nominal

dollar/euro exchange rat

money market

increase in money supply level Proportional increase

increase in European money supply level Proportional decrease

increase in money supply growth rate increase

increase in European money supply

decrease

growth rate

Output market

Increase in demand for output Decrease

Increase in demand for European output increase

Output supply increase in . Ambiguous

Output supply increase in Europe. Ambiguous