【国际经济学专题考试试卷九】International Trade

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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 given 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 above 5. 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 nations is larger A. 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 above 8. 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 above 9. Which of the following is not the subject matter of international finance?A. 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 an economic event*D. all of the above11. Which of the following is not an assumption generally made in the study of inter national economics?A. 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 overcome:*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 so ciety: 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 U.S. importers*B. benefits U.S. exportersC. benefit both U.S. importers and U.S. exportersD. harms both U.S. importers and U.S. exporters16. Which of the following statements with regard to international economics is true?A. 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 Advantage Multiple-Choice Questions1. The Mercantilists did not advocate:*A.free 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 on absolute advantage?A. 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 established tha t 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 nation 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 beneficial tra de 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 true?A. The combined demand for each commodity by the two nations is negatively slope dB. the combined supply for each commodity by the two nations is rising stepwiseC. the equilibrium relative commodity price for each commodity with trade is giv en by the intersection of the demand and supply of each commodity by the two nati ons*D. all of the above13. A difference in relative commodity prices between two nations can be based upo difference in:n a difference 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 nation incur s i ncreasing 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 of 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 production of all commoditiesD. for the nation to produce more of a commodity, it must use resources that are le ss 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 remain o n the same indifference curve*B. amount of Y that a nation must give up for one extra unit of X and still remain on the same indifference curveC. amount of X that a nation must give up for one extra unit of Y to reach a higher indifference curveD. amount of Y that a nation must give up for one extra unit of X to reach a higher indifference curve6. Which of the following statements is true with respect to the MRS of X for Y?A. 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 above 7. Which of the following statements about community indifference curves is true?A. 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 over come 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 its production frontierC. 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/Py 9. 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 tradeequilibr A. the nation exporting commodity X will want to export more of X than at e quilibr iumequilibri B. the nation importing commodity X will want to import less of X than at e quilibri umC. 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 false?A.The gains from trade can be broken down into the gains from exchange and the gains 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 alway s: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 Terms of Trade Multiple Choice Questions1. Which of the following statements is correct? A. The demand for imports is given by the excess demand for 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 commodity *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 nation: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 false?A. 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 not the equilibrium quantity with tradeD. none of the above7. Which of the following statements regarding partial equilibrium analysis is true?A. The demand and supply curve are derived from the nation's production frontier an d 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 above 8. In what way does partial equilibrium analysis differ from general equilibrium analy sis?A. 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 quantity with tradeC. the former but not the latter takes into consideration the interaction among all ma rkets in the economy*D. the former gives only an approximation to the answer sought.9. If the terms of trade of a nation are 1.5 in a two-nation world, those of the tradepartner 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 partner:*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 commodityB. the partner's offer curve rotates toward the axis measuring its import commodity C. the partner's offer curve rotates toward the axis measuring its export commodity *D. the nation's offer curve rotates toward the axis measuring its export commodity13. 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 to: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 Theory Multiple-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/w 7. A difference in relative commodity prices between nations can be based on a diffe rence in:A. technologyB. factor endowmentsC. tastes*D. all of the above 8. In the H-O model, international trade is based mostly on a difference in:A. technology*B. factor endowmentsC. economies of scaleD. tastes 9. According to the H-O model, trade reduces international differences in:A. relative but not absolute factor pricesB. absolute but not relative factor prices*C. both relative and absolute factor pricesD. neither relative nor absolute factor prices10. According to the H-O model, international trade will:A. reduce international differences in per capita incomesB. increases international differences in per capita incomes*C. may increase or reduce international differences in per capita incomes D. lead to complete specialization11. The H-O model is a general equilibrium model because it deals with:A. production in both nationsB. consumption in both nationsC. trade between the two nations*D. all of the above12. The H-O model is a simplification of the a truly general equilibrium model b ecause because it deals with:A. two nationsB. two commoditiesC. two factors of production*D. all of the above13. The Leontief paradox refers to the empirical finding that U.S.*A. import substitutes are more K-intensive than exportsB. imports are more K-intensive than exportsC. exports are more L-intensive than importsD. exports are more K-intensive than import substitutes14. From empirical studies, we conclude that the H-O theory:A. must be rejectedB. must be accepted without reservations*C. can be accepted while awaiting further testingD. explains all international trade15. For factor reversal to occur, two commodities must be produced with:*A. sufficiently different elasticity of substitution of factors B. the same K/L ratioC. technologically-fixed factor proportionsD. equal elasticity of substitution of factors思考题：H-O理论有哪些假设？各假设的含义是什么？为什么要做出这些假设？如何检验H-O理论的正确性？H-O-S定理的假设条件又是什么？他与生产要素国际间的流动有何关系？如何检验H-O-S定理在现实中的可靠性？Chapter 6: Economies of Scale, Imperfect Competition, and International T radeMultiple-Choice Questions:1. Relaxing the assumptions on which the Heckscher-Ohlin theory rests:A. leads to rejection of the theoryB. leaves the theory unaffected*C. requires complementary trade theoriesD. any of the above.Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, leav ethe theory unaffected? t he A. Two nations, two commodities, and two factorsB. both nations use the same technologyC. the same commodity is L-intensive in both nations*D. all of the aboveWhich of the following assumptions of the Heckscher-Ohlin theory, when relaxed, require new trade theories? r equire *A. Economies of scaleB. incomplete specializationC. similar tastes in both nationsD. the existence of transportation costsInternational trade can be based on economies of scale even if both nations have ide ntical:A. factor endowmentsB. tastesC. technology*D. all of the above5. A great deal of international trade:A. is intra-industry tradeB. involves differentiated productsC. is based on monopolistic competition*D. all of the above6. The Heckscher-Ohlin and new trade theories explains most of the trade:A. among industrial countriesB. between developed and developing countriesC. in industrial goods*D. all of the aboveThe theory that a nation exports those products for which a large domestic market e xistswas advanced by: w as *A. LinderB. VernonC. LeontiefD. Ohlin8. Intra-industry trade takes place:A. because products are homogeneous*B. in order to take advantage of economies of scaleC. because perfect competition is the prevalent form of market organizationD. all of the aboveIf a nation exports twice as much of a differentiated product that it imports, its intra- i ndustry industry (T) index is equal to:A. 1.00B. 0.75*C. 0.50D. 0.2510. Trade based on technological gaps is closely related to:A. the H-O theory*B. the product-cycle theoryC. Linder's theoryD. all of the above11. Which of the following statements is true with regard to the product-cycle theor y?A. It depends on differences in technological changes over time among countriesB. it depends on the opening and the closing of technological gaps among countriesC. it postulates that industrial countries export more advanced products to less advanced countries*D. all of the above12. Transport costs:A. increase the price in the importing countryB. reduces the price in the exporting country*C. both of the aboveD. neither A nor B.13. Transport costs can be analyzed:A. with demand and supply curvesB. production frontiersC. offer curves*D. all of the above14. The share of transport costs will fall less heavily on the nation:*A. with the more elastic demand and supply of the traded commodityB. with the less elastic demand and supply of the traded commodityC. exporting agricultural productsD. with the largest domestic market15. A footloose industry is one in which the product:A. gains weight in processingB. loses weight in processingC. both of the above*D. neither A nor B.思考题：本章的贸易理论与基于比较优势的贸易理论有哪些不同？这两类贸易理论是互相排斥的吗？H-O理论与心贸易理论之间有什么经验关联？运输成本对H-O定理和H-O-S定理有何影响？不同的环保标准时如何影响产业选址及国际贸易的？2009年底联合国哥本哈根气候大会中的议题与国际贸易有何关系？这对我国经贸发展有何影响？Chapter 7: Economic Growth and International Trade Multiple-Choice Questions1. Dynamic factors in trade theory refer to changes in:A. factor endowmentsB. technologyC. tastes*D. all of the above2. Doubling the amount of L and K under constant returns to scale:A. doubles the output of the L-intensive commodityB. doubles the output of the K-intensive commodityC. leaves the shape of the production frontier unchanged*D. all of the above.3. Doubling only the amount of L available under constant returns to scale:A. less than doubles the output of the L-intensive commodity*B. more than doubles the output of the L-intensive commodityC. doubles the output of the K-intensive commodityD. leaves the output of the K-intensive commodity unchanged4. The Rybczynski theorem postulates that doubling L at constant relative commodity prices:A. doubles the output of the L-intensive commodity*B. reduces the output of the K-intensive commodityC. increases the output of both commoditiesD. any of the above5. Doubling L is likely to:A. increases the relative price of the L-intensive commodityB. reduces the relative price of the K-intensive commodity*C. reduces the relative price of the L-intensive commodityD. any of the aboveTechnical progress that increases the productivity of L proportionately more than the productivity of K is called: p roductivity *A. capital savingB. labor savingC. neutralD. any of the above7. A 50 percent productivity increase in the production of commodity Y:A. increases the output of commodity Y by 50 percentB. does not affect the output of XC. shifts the production frontier in the Y direction only*D. any of the above8. Doubling L with trade in a small L-abundant nation:*A. reduces the nation's social welfareB. reduces the nation's terms of tradeC. reduces the volume of tradeD. all of the above 9. Doubling L with trade in a large L-abundant nation:A. reduces the nation's social welfareB. reduces the nation's terms of tradeC. reduces the volume of trade*D. all of the aboveIf, at unchanged terms of trade, a nation wants to trade more after growth, then the n ation's nation's terms of trade can be expected to:*A. deteriorateB. improveC. remain unchangedD. any of the above A proportionately greater increase in the nation's supply of labor than of capital is lik ely to result in a deterioration in the nation's terms of trade if the nation exports: to A. the K-intensive commodity*B. the L-intensive commodityC. either commodityD. both commodities12. Technical progress in the nation's export commodity:*A. may reduce the nation's welfareB. will reduce the nation's welfareC. will increase the nation's welfareD. leaves the nation's welfare unchanged13. Doubling K with trade in a large L-abundant nation:A. increases the nation's welfareB. improves the nation's terms of tradeC. reduces the volume of trade*D. all of the above14. An increase in tastes for the import commodity in both nations:A. reduces the volume of trade*B. increases the volume of tradeC. leaves the volume of trade unchangedD. any of the above15. An increase in tastes of the import commodity of Nation A and export in B:*A. will reduce the terms of trade of Nation AB. will increase the terms of trade of Nation AC. will reduce the terms of trade of Nation BD. any of the above思考题：要素积累和技术进步如何影响一国的生产可能性曲线的形状和位置？何种类型的经济增长最可恩能够导致国家福利的下降？那种类型的经济增长最可能导致国家福利的改善？Chapter 8: Trade Restrictions: TariffsMultiple-choice Questions1. Which of the following statements is incorrect?A. An ad valorem tariff is expressed as a percentage of the value of the traded com modityB. A specific tariff is expressed as a fixed sum of the value of the traded commodity.C. Export tariffs are prohibited by the U.S. Constitution*D. The U.S. uses exclusively the specific tariff 2. A small nation is one:A. which does not affect world price by its tradingB. which faces an infinitely elastic world supply curve for its import commodityC. whose consumers will pay a price that exceeds the world price by the amount of t he tariff*D. all of the above3. If a small nation increases the tariff on its import commodity, its:A. consumption of the commodity increasesB. production of the commodity decreasesC. imports of the commodity increase*D. none of the aboveThe increase in producer surplus when a small nation imposes a tariff is measured by the area:*A. to the left of the supply curve between the commodity price with and without th e tariffB. under the supply curve between the quantity produced with and without the tariffC. under the demand curve between the commodity price with and without the tariffD. none of the above.。

国际贸易考试题库及答案

国际贸易考试题库及答案一、选择题1.国际贸易是指不同国家之间的商品、服务和生产要素的交换活动。

A.正确B.错误答案：A2.国际贸易的基本形式包括进口贸易、出口贸易和过境贸易。

A.正确B.错误答案：A3.贸易顺差是指一个国家的出口额大于进口额。

A.正确B.错误答案：A4.世界贸易组织（WTO）成立于1995年。

A.正确B.错误答案：A5.关税壁垒是指通过提高进口商品的关税来限制进口。

A.正确B.错误答案：A6.倾销是指一个国家以低于国内市场价格的价格向另一个国家销售商品。

A.正确B.错误答案：A7.货币贬值可以提高一个国家的出口竞争力。

A.正确B.错误答案：A8.跨国公司是指在两个或多个国家开展业务的企业。

A.正确B.错误答案：A9.贸易引力模型是由美国经济学家 gravity model 提出的。

A.正确B.错误答案：A10.区域经济一体化是指在一定区域内，多个国家逐步消除贸易壁垒，实现商品、服务和生产要素的自由流动。

A.正确B.错误答案：A二、简答题1.请简要说明国际贸易的作用。

答案：国际贸易的作用主要包括以下几点：（1）促进资源配置和优化：国际贸易使各国可以根据自己的比较优势进行资源配置，提高资源利用效率，实现经济发展。

（2）推动技术进步和创新：国际贸易可以促进技术跨国转移和交流，加快技术创新步伐。

（3）增加就业和提高收入：国际贸易的发展可以创造更多的就业机会，提高人们的收入水平。

（4）丰富消费品种和提高生活水平：国际贸易使各国可以进口各种商品和服务，满足人们多样化的需求，提高生活水平。

（5）促进国际政治和经济合作：国际贸易的发展有助于各国建立和发展政治和经济关系，促进世界和平与繁荣。

2.请简要介绍世界贸易组织（WTO）的主要职能。

答案：世界贸易组织（WTO）的主要职能包括以下几点：（1）制定和协调国际贸易规则：WTO负责制定和更新国际贸易规则，确保各国贸易政策的一致性和透明度。

（2）解决贸易争端：WTO提供贸易争端解决机制，帮助成员国解决贸易纠纷，维护公平贸易。

国际经济学(外语)习题9.doc

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

【国际经济学专题考试试卷十九】Earnings and Discrimination

Chapter 19Earnings and DiscriminationTRUE/FALSE1. A compensating differential refers to a difference in wages that arises from nonmonetary characteristics. ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional2. A compensating differential is a difference in wages due to higher levels of education or other forms of humancapital.ANS: F DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional3. The fact that doctors are paid more than economics professors is an example of a compensating differential. ANS: T DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional4. A computer is an example of productivity-enhancing human capital.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Human capitalMSC: Definitional5. Higher levels of human capital are correlated with higher earnings because firms are willing to pay more forbetter-educated workers who have higher marginal productivities.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Human capitalMSC: Interpretive6. As a result of an increase in the earnings gap between skilled and unskilled jobs, the incentive to get a collegeeducation has been declining.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive7. The rising gap in wages between unskilled and skilled workers is most likely related to a larger increase indemand for unskilled occupations relative to skilled occupations.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive8. One hypothesis to explain the rising gap in wages between unskilled and skilled workers in the United Statesis that international trade has altered the relative demands for skilled and unskilled workers.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive9. The statement that "the rich get richer, and the poor get poorer" is supported by evidence of an expandingwage gap between high-skill and low-skill workers.ANS: T DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive10. Some economists suggest that international trade has led to an expanding wage gap between high-skill andlow-skill workers in the United States.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive12871288 Chapter 19/Earnings and Discrimination11. It is increasingly clear that technological change, rather than international trade, has been largely responsiblefor an expanding wage gap between high-skill and low-skill workers.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Interpretive12. The United States is losing manufacturing jobs to countries like China and India, where manufacturing jobshave increased 30 percent since 1995.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Applicative13. Since 1995, global manufacturing employment has declined, yet global industrial output has risen.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Applicative14. One explanation for the loss in manufacturing jobs is that new technologies have replaced the need for someworkers.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Applicative15. The demand for workers with excellent problem-solving skills is increasing, as are the wages for thoseworkers.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Increasing value of skillsMSC: Applicative16. One reason why better-looking workers may have higher earnings is that physical attractiveness may enhancea worker’s productivity for certain jobs, especially for those workers who deal with the public.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Beauty premiumMSC: Interpretive17. One reason why better-looking workers may have higher earnings is that physical attractiveness is correlatedwith intelligence.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Beauty premiumMSC: Interpretive18. The signaling theory of education maintains that workers who complete specific levels of education signaltheir high productivity to potential to employers.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: SignalingMSC: Definitional19. The signaling theory of education maintains that workers who complete specific levels of education enhancetheir productivity through education.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: SignalingMSC: Definitional20. If the signaling theory of education is correct, then education is correlated with higher earnings because peoplewith higher levels of education are more productive.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: SignalingMSC: InterpretiveChapter 19/Earnings and Discrimination 1289 21. The human-capital theory of education maintains that workers who complete specific levels of educationenhance their productivity through education.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Human capital | SignalingMSC: Definitional22. Education and on-the-job training are sources of human capital.ANS: T DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Human capitalMSC: Applicative23. The superstar phenomenon explains why professional athletes earn more than amateur athletes.ANS: F DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Superstar phenomenonMSC: Definitional24. Superstars earn high incomes due to their ability to satisfy the demands of millions of people at once.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: SuperstarsMSC: Interpretive25. An effective minimum wage law will increase the quantity of labor demanded.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Applicative26. Labor unions will raise the quantity of labor demanded.ANS: F DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: UnionsMSC: Applicative27. Efficiency wages will raise the quantity of labor supplied to the market.ANS: T DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Efficiency wagesMSC: Applicative28. Efficiency wages decrease employee effort.ANS: F DIF: 1 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Interpretive29. Efficiency wages decrease employee turnover.ANS: T DIF: 1 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Interpretive30. Economic theory of labor markets suggests that wages are governed by labor supply and labor demand. ANS: T DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: WagesMSC: Applicative31. Empirical evidence suggests that ability, effort, and chance are not likely to be significant contributors to wagedifferences.ANS: F DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: WagesMSC: Interpretive32. Discrimination is a reflection of some people's prejudice against certain groups in society.ANS: T DIF: 1 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Definitional1290 Chapter 19/Earnings and Discrimination33. Differences in human capital among groups of workers is possibly a reflection of past discrimination.ANS: T DIF: 1 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive34. Discrimination is an emotionally charged issue that is impossible to study objectively.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive35. When differences in human capital among workers lead to discrimination, the differences are typically a resultof social or political processes rather than economic processes.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive36. When comparing average wages for black and white workers in the United States, wages paid to blackworkers have been about 20 percent less than those paid to white workers.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Applicative37. When comparing average wages for male and female workers in the United States, wages paid to females havebeen about 40 percent less than those paid to male workers.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Applicative38. Politicians often point to average wage differentials as evidence of labor-market discrimination against ethnicminorities and women; however, economists argue against this approach because they don't trust any of the statistics quoted by the politicians.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive39. Politicians often point to wage differentials as evidence of labor-market discrimination against ethnicminorities and women; however, economists argue against this approach because people differ in the kinds of work they are willing and able to do.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive40. Economists would argue that the gender wage gap is narrowing because of efficiency wages.ANS: F DIF: 2 REF: 19-2 | 19-1NAT: Analytic LOC: Labor marketsTOP: Labor-market discrimination | Efficiency wages MSC: Interpretive41. All differences in wages that are not accounted for by differences in human-capital investment are likely to bea result of discrimination.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive42. In a labor market free from discrimination, wages for workers that are employed by the same company willstill differ.ANS: T DIF: 2 REF: 19-2 | 19-1NAT: Analytic LOC: Labor marketsTOP: Labor-market discrimination | Human capital MSC: InterpretiveChapter 19/Earnings and Discrimination 1291 43. Evidence of discrimination is most apparent when one compares wages among broad groups.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive44. When discrimination occurs as a result of prejudice, firms do not maximize profits.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive45. Consumers are often a primary source of discrimination in labor markets.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive46. Discrimination is usually not a profit-maximizing strategy.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive47. One example of labor-market discrimination is that firms may be less likely to interview job-marketcandidates whose names suggest that they are members of a racial minority.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive48. If people with blue eyes earn more than people with brown eyes, we have proof of discrimination againstpeople with brown eyes.ANS: F DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive49. Profit-maximizing, competitive firms will not discriminate in the hiring of workers unless consumers exercisea preference for discrimination in product markets or governments mandate discrimination.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Labor-market discrimination MSC: Interpretive50. Streetcar owners in the early 20th century were against segregation for profit maximizing reasons.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: DiscriminationMSC: Interpretive51. Experimental evidence indicates women choose less competitive environments than men.ANS: T DIF: 2 REF: 19-2NAT: Analytic LOC: Labor markets TOP: Gender differencesMSC: InterpretiveSHORT ANSWER1. After graduating from college, you receive job offers from five different accounting firms. All job offers havea different compensation package. Is it irrational for you to accept an offer that doesn't provide the highestlevel of monetary compensation? Use the concept of compensating differentials to explain your answer. ANS:Compensating differentials refer to differences in job characteristics across different occupations. But compensating differentials can also lead to differences in job characteristics within an occupation. Such considerations may include geographic location and quality-of-life issues associated with a particular job offer. Thus, it is not irrational to consider nonmonetary compensation.DIF: 2 REF: 19-1 NAT: ReflectiveLOC: Labor markets TOP: Compensating differentialsMSC: Analytical1292 Chapter 19/Earnings and Discrimination2. The National Collegiate Athletic Association (NCAA) has long argued that nationally-prominent collegeathletes are compensated with an investment in human capital that far exceeds the monetary reward of playing professional sports. Examine this argument in light of your knowledge of human capital theory and theeconomic theory of labor markets.ANS:Many economists would argue that the NCAA is the most exploitative organization in the United States, considering the value that star student athletes contribute to a university. Most would argue that the education that star student athletes receive is of less value than what the athletes contribute.DIF: 2 REF: 19-1 NAT: ReflectiveLOC: Labor markets TOP: Human capitalMSC: Analytical3. A recent study of the determinants of wages for clerical staff at a state university found that years of schooling,years of experience, age and job characteristics only explained about one-half of the difference in wages.Describe other factors that may be important in explaining wages differences for clerical staff.ANS:Other factors may include gender, job tenure, and job responsibilities, ability and effort.DIF: 2 REF: 19-1 NAT: AnalyticLOC: Labor markets TOP: Wages MSC: Analytical4. Explain the theory that education acts as a signaling device. How does this contrast with the theory ofeducation as an investment in human capital?ANS:The theory of signaling suggests that those who have desirable "productivity" characteristics are more likely to finish educational programs. The human capital theory suggests that productivity characteristics are enhanced by the learning that takes place in formal educational programs.DIF: 2 REF: 19-1 NAT: ReflectiveLOC: Labor markets TOP: Human capital | SignalingMSC: Definitional5. List the productivity factors that may explain the differences in pay between men and women in similaroccupations. Do any of these factors arise as a result of cultural or social traditions? If so, describe howchanges in social relationships will affect the pay gap over time.ANS:Job experience, education, lifetime patterns of work experience, etc. The gap should narrow as the cultural and social barriers to female access to productivity-enhancing experiences are reduced.DIF: 2 REF: 19-2 NAT: ReflectiveLOC: Labor markets TOP: Labor-market discriminationMSC: Analytical6. Explain the role of job experience in explaining the differences between the average wages of men andwomen.ANS:Women, who have primary responsibility for housework and child-rearing duties, typically have less continuity in the labor force. As such, there is a difference in the average years of job experience between men and women. DIF: 2 REF: 19-2 NAT: AnalyticLOC: Labor markets TOP: Labor-market discriminationMSC: AnalyticalChapter 19/Earnings and Discrimination 1293 7. Explain how compensating differentials could contribute to differences between the average wages of men andwomen.ANS:Men and women may, on average, select different career paths. If men tend to be more concentrated in jobs that have less desirable working conditions, then compensating differentials can explain some of the difference in wages between men and women.DIF: 2 REF: 19-2 | 19-1 NAT: AnalyticLOC: Labor marketsTOP: Labor-market discrimination | Compensating differentialsMSC: Applicative8. Evaluate the following statement: "The gender pay gap provides evidence of widespread, severe, ongoingdiscrimination by employers and fellow workers."ANS:There are many explanations of the gender pay gap. Some are associated with discrimination both by consumers and employers. Others are not associated with discrimination. Examples of factors that would explain why men earn more than women, on average, but that are not associated with discrimination include years of labor-market experience, types of jobs, levels of human capital, and on-the-job training.DIF: 2 REF: 19-2 NAT: ReflectiveLOC: Labor markets TOP: Labor-market discriminationMSC: Analytical9. In a recent U.S. presidential campaign, a lobbyist for a prominent national women's organization made theclaim that women in the United States earn $0.60 for every $1.00 earned by a man. A reporter, who wasprepared for this statement, asked the lobbyist why wages paid to the organization's secretarial staff (all of whom were women) were significantly below the national average if they were truly interested in raising the rates of compensation for women. If you were the lobbyist, how would you have answered this question? Do you think your answer is convincing? Explain.ANS:The lobbyist would likely respond by citing factors that explain wage differences on the basis of compensating differentials, education, and job experience. These arguments would be convincing to those who subscribe to the marginal productivity theory of compensation.DIF: 2 REF: 19-2 NAT: ReflectiveLOC: Labor markets TOP: Labor-market discriminationMSC: Analytical10. Explain the role that consumers play in perpetuating discrimination in labor markets.ANS:Consumers are able to exercise their biases when they purchase goods and services. For example, if consumers prefer to have female personal trainers than male personal trainers, then firms may respond to these preferences by paying a higher wage to attract female personal trainers. The higher wage paid to women based solely on their gender (or the lower wage paid to male trainers based solely on their gender) would be an example of discrimination driven by consumer preferences.DIF: 2 REF: 19-2 NAT: AnalyticLOC: Labor markets TOP: Labor-market discriminationMSC: Applicative11. Explain why the following situation is likely to persist: soccer players in Europe are the highest paid athletesand in the US they are among the lowest paid athletes.ANS:Consumers use personal preferences when they make purchases. In this case, US consumers prefer other sports such as baseball, basketball, or football over soccer. Although over time we would expect a movement together in compensations for athletes in different sports, the discriminatory preferences of consumers allow the gap to persist over time.DIF: 2 REF: 19-2 NAT: AnalyticLOC: Labor markets TOP: Labor-market discriminationMSC: Applicative1294 Chapter 19/Earnings and DiscriminationSec 01--Some Determinants of Equilibrium WagesMULTIPLE CHOICE1. Effective minimum-wage laws will most likelya.increase demand for labor.b.create a surplus of labor.c.increase incomes for all unskilled workers.d.decrease incomes for all unskilled workers.ANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Applicative2. Above-equilibrium wages caused by efficiency wages will most likely result ina. a shortage of labor.b.increased unemployment.pensating wage differentials.d.an decrease in the quantity of labor supplied.ANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Applicative3. If we were to observe above-equilibrium wages in a particular labor market, then a possible explanation mightbe thata.the theory of efficiency wages holds true for that market.b.there is a powerful labor union representing workers in that market.c.workers are largely unskilled and/or inexperienced and minimum-wage laws are effectively holdingwages up in that market.d.All of the above are correct.ANS: D DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Applicative4. Which of the following statements is not correct?a.Some firms pay wages that are above the equilibrium wage.b.Workers sometimes form labor unions to push their wages up.c.Wages never deviate from the balance of supply and demand in the market for labor.d.The federal government mandates that employers pay their workers at least as much as theminimum wage.ANS: C DIF: 2 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Wages | Above-equilibrium wages MSC: Interpretive5. Which of the following is not a consequence of above-equilibrium wages in a labor market?a. a surplus of laborb.unemploymentc.more unionized jobsd.All of the above are consequences of above-equilibrium wages.ANS: C DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: AnalyticalChapter 19/Earnings and Discrimination 12956. Which of the following is the most likely outcome of minimum wage laws?a.an increase in both the quantity of labor supplied by workers and the quantity of labor demanded byfirmsb.an increase in the quantity of labor supplied by workers and a decrease in the quantity of labordemanded by firmsc. a decrease in the quantity of labor supplied by workers and an increase in the quantity of labordemanded by firmsd. a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded byfirmsANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: ApplicativeFigure 19-17. Refer to Figure 19-1. Some policymakers have argued that the government should establish a "living wage."A living wage would provide workers a reasonable standard of living in their city or region. If a living wage of$10 per hour is established in the market pictured here, we would expecta.employment will increase to 14 million.b.employment will decrease to 8 million.c.the wage will actually rise to $20 per hour.d.there will be a surplus of 14 million workers.ANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wagesMSC: Analytical8. Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largestlocal employer decided to change its compensation scheme to $10 as shown. Which of the followingcompensation schemes could the graph be illustrating?a.An efficiency wage.b.Discrimination.c. A compensating differential.d.The superstar phenomenon.ANS: A DIF: 2 REF: 19-1NAT: Reflective LOC: Labor markets TOP: Above-equilibrium wagesMSC: Analytical1296 Chapter 19/Earnings and Discrimination9. Refer to Figure 19-1. What is the loss associated with wages moving from $8 to $10?a. 2 million jobs.b. 6 million jobs.c.8 million jobs.d.14 million jobs.ANS: A DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wages MSC: AnalyticalFigure 19-210. Refer to Figure 19-2. This figure depicts labor demand and supply in a nonunionized labor market. Theoriginal equilibrium is at point A. If a labor union subsequently establishes a union shop and negotiates an hourly wage of $20, then there will be an excessa.supply of 3,000 workers.b.demand of 7,000 workers.c.supply of 4,000 workers.d.supply of 7,000 workers.ANS: D DIF: 2 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Above-equilibrium wages | Unions MSC: Analytical11. Refer to Figure 19-2. This figure depicts labor demand and supply in a nonunionized labor market. Theoriginal equilibrium is at point A. If a labor union subsequently establishes a union shop and negotiates an hourly wage of $20, then the employment levela.increases from 6,000 to 10,000.b.increases from 3,000 to 10,000.c.decreases from 10,000 to 3,000.d.decreases from 6,000 to 3,000.ANS: D DIF: 2 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Above-equilibrium wages | Unions MSC: AnalyticalFigure 19-3The manufacturing labor market.12. Refer to Figure 19-3. Suppose the manufacturing labor market, which is non-unionized, is in equilibrium at awage equal to $30. Suppose now that the AFL-CIO (a labor organization) organizes the workers in themanufacturing market and negotiates a wage of $38 per hour. Because of the union,a.10 people who were once employed are now unemployed.b.20 people who were once employed are now unemployed.c.40 people who were once employed are now unemployed.d.20 people who were once unemployed are now employed.ANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Above-equilibrium wages | Unions MSC: Analytical13. Refer to Figure 19-3. Suppose the manufacturing labor market, which is non-unionized, is in equilibrium at awage equal to $30. Suppose now that the AFL-CIO (a labor organization) organizes the workers in themanufacturing market and negotiates a wage of $38 per hour. After the workers become unionized, how many workers do manufacturing firms collectively hire?a.130 workersb.150 workersc.170 workersd.There is not enough information to determine the number of workers.ANS: A DIF: 2 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Above-equilibrium wages | Unions MSC: Analytical14. Which of the following is not an example of efficiency wages?a.More productive workers are paid more to reflect their higher output.b.Higher wages induce higher output from workers.c.Better quality applicants apply for jobs that pay above-equilibrium wages.d.Workers are less likely to leave jobs that pay above-equilibrium wages.ANS: A DIF: 3 REF: 19-1NAT: Analytic LOC: Labor marketsTOP: Efficiency wages | Above-equilibrium wages MSC: Analytical15. Which of the following is true of minimum-wage laws?a.They affect skilled workers’ wages.b.They create above-equilibrium wages for some unskilled workers.c.They create a shortage of unskilled labor.d.They negatively affect the employment of skilled workers.ANS: B DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Above-equilibrium wages MSC: Applicative16. A difference in wages that arises to offset the nonmonetary characteristics of different jobs is known asa. a compensating differential.b.an inefficiency wage.c.the equilibrium difference.d. a union wage.ANS: A DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional17. Working in a slaughterhouse is much riskier and more unpleasant than working in a bookstore. As a result,we'd expect a difference in wages between the two jobs. The difference is known asa.an efficiency wage.b. a compensating differential.c. a wage adjustment.d. a minimum wage.ANS: B DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional18. The term "compensating differential" refers toa.the fact that workers who do similar work should be paid the same wage.b.the fact that some workers live further from their jobs than do other workers.c. a wage difference that is distinguishable on the basis of monetary characteristics.d. a wage difference that arises from nonmonetary characteristics of different jobs.ANS: D DIF: 2 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional19. A difference in wages that reflects differences in the nonpay features of two jobs is calleda. a compensating differential.b. a wage adjustment.c.an efficiency wage.d. a minimum wage.ANS: A DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Definitional20. Many kindergarten teachers have advanced educational degrees, yet they have lower average earnings thatother individuals with similar educational levels. A potential explanation for the differences in earnings is that kindergarten teachersa.have more pleasant working conditions.b.have less pleasant working conditions.c.work longer hours.d.must pass certification tests.ANS: A DIF: 1 REF: 19-1NAT: Analytic LOC: Labor markets TOP: Compensating differentials MSC: Applicative。

国际经济学考试试题

国际经济学考试试题一、单项选择题（每题 2 分，共 30 分）1、从国际经济资源流动的难度看，最容易流动的要素是（）A 商品B 资本C 人员D 技术2、假定闭关自守的状态下，X 商品的价格，在 A 国是 10 美元，在 B 国是 8 美元，C 国是 6 美元，并且 A 国是小国，不能通过贸易影响 B 国和 C 国的价格。

如果 A 国对从 B 国和 C 国进口的 X 商品最初征收非歧视性的 100%的从价税，那么，A 国是（）A 贸易创造国B 贸易转移国C 贸易受损国D 无法确定3、比较优势理论认为国际贸易的驱动力是（）A 劳动生产率的差异B 技术水平的差异C 产品品质的差异D 价格的差异4、以下哪种贸易政策会降低本国的福利水平（）A 出口补贴B 进口关税C 进口配额D 自愿出口限制5、能反映规模经济理论本意的是（）A 规模报酬递减B 规模报酬递增C 规模报酬不变D 以上都不对6、幼稚产业保护论的提出者是（）A 亚当·斯密B 大卫·李嘉图C 汉密尔顿D 李斯特7、当一国政府对某种产品征收进口关税时，若该产品的需求弹性大于供给弹性，生产者与消费者承担关税的程度是（）A 前者大于后者B 后者大于前者C 两者相等D 不确定8、一国货币贬值对其进出口收支产生何种影响（）A 出口增加，进口减少B 出口减少，进口增加C 出口增加，进口增加D 出口减少，进口减少9、在浮动汇率制下，当一国国际收支出现逆差时，该国货币汇率会（）A 上升B 下降C 不变D 不确定10、以下哪项不是国际收支平衡表中的项目（）A 经常项目B 资本项目C 错误与遗漏项目D 国内生产总值项目11、购买力平价理论的基础是（）A 一价定律B 利率平价C 相对购买力平价D 绝对购买力平价12、国际收支调整的弹性分析法的假设前提不包括（）A 不存在国际资本流动B 汇率由货币当局决定C 马歇尔勒纳条件成立D 进出口商品的供给弹性无穷大13、下列属于直接标价法的是（）A 1 美元=68 人民币B 1 人民币=015 美元C 1 英镑=12 欧元D 1 欧元=085 英镑14、蒙代尔弗莱明模型主要分析在资本完全流动的情况下，（）政策的有效性。

国际经济学试题及答案

国际经济学试题及答案一、单项选择题（每题2分，共20分）1. 国际经济学研究的核心问题是：A. 国际贸易B. 国际金融C. 国际投资D. 全球化答案：A2. 比较优势理论是由哪位经济学家提出的？A. 大卫·李嘉图B. 亚当·斯密C. 约翰·梅纳德·凯恩斯D. 阿尔弗雷德·马歇尔答案：A3. 根据赫克歇尔-俄林理论，一个国家会专门生产并出口其：A. 劳动力密集型商品B. 资本密集型商品C. 技术密集型商品D. 资源密集型商品答案：B4. 汇率波动对国际贸易的影响主要体现在：A. 价格竞争力B. 贸易政策C. 贸易壁垒D. 贸易协定答案：A5. 国际货币基金组织（IMF）的主要职能不包括：A. 监督成员国的经济政策B. 提供短期贷款以解决国际收支不平衡C. 促进国际贸易自由化D. 为成员国提供技术援助答案：C6. 世界贸易组织（WTO）的主要目标是：A. 促进全球经济增长B. 减少全球贫困C. 促进国际贸易自由化D. 维护世界和平答案：C7. 根据购买力平价理论，如果一国的货币贬值，那么该国的：A. 出口会增加B. 进口会增加C. 出口和进口都会增加D. 出口和进口都不会增加答案：A8. 国际直接投资（FDI）与国际间接投资的主要区别在于：A. 投资规模B. 投资期限C. 投资方式D. 投资回报答案：C9. 跨国公司在全球范围内进行生产和销售活动，其主要目的是：A. 降低成本B. 增加市场份额C. 规避贸易壁垒D. 所有上述选项答案：D10. 国际经济一体化的主要形式不包括：A. 自由贸易区B. 共同市场C. 关税同盟D. 双边贸易协定答案：D二、多项选择题（每题3分，共15分）1. 以下哪些因素会影响一个国家的贸易模式？A. 资源禀赋B. 技术水平C. 消费者偏好D. 贸易政策答案：ABCD2. 国际收支平衡表主要包括以下哪些部分？A. 经常账户B. 资本和金融账户C. 储备资产D. 政府预算答案：ABC3. 以下哪些是国际经济一体化的积极效应？A. 贸易创造B. 规模经济C. 投资自由化D. 货币贬值答案：ABC4. 国际货币体系的主要功能包括：A. 提供稳定的汇率B. 促进国际贸易和投资C. 维护国际金融稳定D. 促进全球经济增长答案：ABC5. 国际金融市场的主要参与者包括：A. 银行B. 跨国公司C. 政府D. 个人投资者答案：ABCD三、简答题（每题5分，共20分）1. 简述绝对优势理论和比较优势理论的主要区别。

国际贸易英文习题(含答案)

国际经济学模拟习题（3）一、True or F al se （10*1’=10’）1. Trad e i s a zero-su m activi t y; i f one country gain s, the oth er must lose.2. A nation maxi mi zes satisfaction b y reachin g th e highest possibl e indi fference curve, and inthe absence o f t rad e will p roduce where it s productio n possibili ties sch edule is tangent to an indifference curve.3. Th e factor endo wment s mod el predict s th at int ernational trad e will t end to equali ze theprices o f trade-abl e good s amon g nations, but to in crease the wage gap b et weencapit al-abundant and labo r-abundant nations.4. A tax o f 10 percent on i mport s o f sho es would be an exampl e o f a sp eci fi c tari ff.5. An i mport quot a wi ll not rai se the do mesti c pri ce o f the produ ct as would a t ari ff, becau seit is not a t ax on i mport s.6. In bal anc e-o f-payment s account, a t ran saction resultin g in receipt o f a p ayment is recordedas a credit, wh ereas a tran saction resul ting in a p ayment to other n ations is recorded as adebit.7. Becau se they do not in clude an exchan ge o f goods or servi ces, unil at er al transfers do notappear on a n ation's b al ance o f payment s account.8. David Hu me was one of th e fi rst econo mi sts to provide an al yti cal support fo r mercan tili sttrad e polici es.9. A nat ion would be mo st li kel y to find it s trad e balan ce i mp rovin g aft er a curren cydepreci ation i f th at nation’s d emand fo r i mport s and forei gn d emand fo r i ts expo rts was ver y inelasti c.10. A nation with n eith er a bal ance o f p ayment s surplus nor a bal ance o f p ayments defici t i s saidto be in int ernal bal ance.二、choi ces（15*3’=45’）1. The law o f co mp arati ve advant agea). was rati fied b y th e Wo rld Trad e Organizationb). explains ho w all countries can ben efit when each specializes in producin g it ems in wh ich i t hasthe great est relati ve effi ci encyc). explain s ho w onl y the mo st effi ci ent nations can benefi t fro m traded). is used to evalu at e a country’s mi lit ary stren gth2. The theory o f absolut e advant age was developed b ya. the Mercantili stsb. David Hu mec. Ad am S mithd. David Ricardo3. David Ricardo developed the pr inciple o f co mparative advantage sho win g th ata. a nation must b e th e least-cost produ cer o f a good in order to export th at it emb. no nation could have an absolut e ad vantage in all goodsc. in a t wo-country exampl e, onl y one nation can have a co mp arati v e ad vantaged. even a nat ion that has lower producti vit y in all goo ds can ben efi t b y export ing the it em in whichit is rel ati vel y l ess inefficient4. An indi fferen ce curvea. sho ws th at most p eople reall y are indifferent abou t intern ational tradeb. sho ws th e demand preferences o f con su mersc. refl ects th e rel ati ve co sts o f product ion within a n ationd. indicat es ho w mu ch l ab or a country h as5. To maxi mize it s sati sfaction, a nation will ensure that it s t erms-o f-trad e lin ea. is tan gent to its produ ct ion possibiliti es fronti er at one point (production po int) and also to th ehighest att ainabl e indi fference cu rve at another poin t (consu mption point)b. is t angent to it s product ion possibilit ies fronti er and intersects an indi fferen ce curvec. int ersects its p roduction possibili ties frontier and is t angent to an indi fferen ce curved. intersect s it s productio n possibilit ies fronti er at one point and an indi fference curve at anotherpoint6. Facto r-p rice equali zatio n predicts th at with int ern ational trad ea. the price o f a n ation’s abundant factor will rise an d that o f it s scarce factor will fallb. the pri ce o f a n ation’s abundant factor will fall an d that o f it s scarce factor will risec. the prices o f a nation’s abundant and scarce factors both will rised. the pri ces o f a nat ion’s abundant and scarce factors both will fall7. The effecti ve rat e o f p rotect iona. distingui shes bet ween t ari ffs th at are effecti ve an d those th at are ineffecti veb. is the mini mu m level at which a t ari ff b eco mes effecti v e in li mitin g i mportsc. sho ws th e increase in value-added for do mestic production that a parti cular tari ff st ructuremakes po ssibl e, in p ercent age t ermsd. sho ws ho w effecti ve a t ari ff is in rai sin g revenu e8. The institut ional frame wo rk developed in 1947 to pro mote trade lib erali zati on is kno wn asa. the GATTb. the WTOc. the IMFd. The World Ban k9. Developing n ationsa. have very li mited invol vement in int ern ational tradeb. trad e mo stl y with each otherc. rel y heavil y on export s of pri mary pr oducts to ind ustri al nationsd. rel y h eavil y on exports of manu factured product s10. A custo ms union i s uni que in that ita. has no tari ffs on trade among memb er n ationsb. has no t ari ffs on trade among memb er n ations and a co mmon set o f t ari ffs on i mpo rt s fro mnon-membersc. has no tari ffs on trade among memb er n ations, a co mmon set o f tari ffs on i mports fro mnon-members, and free mo bilit y o f factors o f product ion such as labor and capit al amon g membersd. allo ws unrest ricted l abo r i mmi gration fro m non-memb er n ations11. A n ation's b al ance o f p ayments st at ementa. is a record o f th at n atio n's assets abro ad and it s li abiliti es to those fro m oth er nationsb. is an accounting adjust ment pro cess en surin g that a nation's exports will be equal to its i mpor tsc. does not includ e transactions o f forei gn citi zen s o r co mp ani es l iving o r operatin g wi thin thatnation d. i s a record of th e econo mic t ran sactio ns bet ween resid ents o f th at nation and the rest o f th e world, usual l y for a p eriod o f one year.12. Since b alan ce-o f-p ayments accountin g is a doubl e-entry accounting syst em, an export o f U.S.wh eat to M exico p aid for b y a d eposit to the U.S. exporters account in a M exican ban k would b e recorded on the U.S. b al ance o f payment s asa. a credit fo r merch andi se exports and a credit to sh ort-term finan ci al flo wsb. a credit for merch andise export s and a deb it to sh ort-term finan ci al flo ws.c. a credit fo r merch andise exports and a d ebit to uni lat eral transfersd. a credit for merch andise export s and a deb it to o ffi ci al set tlements13. The fo rei gn-exchan ge marketa. is locat ed in New Yorkb. is a market in Chi cago for the int ern ational trading o f co mmoditi es such as wh eat or copper.c. is a mechani sm fo r individual s and insti tutions to exch ange one nation al or regional cu rren cy o rdebt inst ru ment for those of oth er n ations or region s.d. is open fro m 9:00 a.m. t o 3:00 p.m. New Yo rk ti me, Monday throu gh Frid ay.14. Market fund ament als t hat mi ght be exp ected to i nflu ence exchan ge rat e mo vements in clude all o fthe follo wing factors excepta. di fferences in real in co me gro wth rat es b et ween countriesb. differences in real interest rates bet ween countriesc. sp ecul ati ve opinion abo ut futu re exch ange rat esd. chan ges in p ercei ved profit abili t y o f econo mi c in ve st ment s b et ween t wo countries15. If in fl ation is high er i n Mexico th an in the Unit ed States, th e law o f on e price would predict thata. t rad e bet ween M exi co and th e Unit ed States would declin eb. the dollar pri ce o f au tos purchased in Mexi co would be hi gher th an the dollar pri ce ofco mp arable autos purchased in the Unit ed Statesc. the p eso would appreci ate relati ve to th e dollar b y an amount equal in p ercen tage t erms to thedifference bet ween th e t wo infl ation rat esd. the peso would depreci ate rel at ive to the dollar b y an amount equal in percen tage t erms to thedifference bet ween th e t wo infl ation rat es三、Questi ons（45’, answer these questi ons i n Chi nese）1. Assu me that l abor i s th e onl y factor used in production, and that the cost s o f producing b utt er and cloth are gi ven b y the t abl e belo w.(8’)(1) Express the pri ce o f bu tter rel ati ve to th e pri ce o f cloth in t erms o f l abor content for Ho me and Forei gn in the ab sen ce o f t rade.(2) Wh at do these relati ve prices reveal about each country’s co mparati ve advantage?(3) Wh at do these rel ati ve prices su ggest about the wo rld pri ce o f butt er rel at ive to cloth th at wi ll exist on ce these countri es trad e wi th each oth er?(4) If the world price st abilizes at 1 wi th trad e, what are the gain s b y the Ho me country achieved through trade with th e Forei gn country?2. Expl ain th e i mmi seri zi ng gro wth and li st the case for i mmiserizin g gro wth to be occur. (8’)3. Expl ain the ex chan ge rate o vershootin g theory (8’)4. Suppose that the no min al interest rate on 3-month Treasury bill s is 8 percent in the United Stat esand 6 percent in th e Unit ed Kingdo m, and the rat e o f infl ation i s 10 percent in the Unit ed Stat es and 4 percent in th e Unit ed Kingdo m.(9’)(1) Wh at i s the real interest rat e in each nation?(2) In whi ch direction wou ld intern ational invest men t flo w in response to these real int erest rates?(3) Wh at i mpact would these in vest ment flo ws h ave on the dollar’s exch ange value?5. Wh at effects do es labor mi gration have on th e country o f i mmi gration? Th e country o f emi gration?Th e world as a whole?(12’)国际经济学模拟习题（3）参考答案一、判断题（每题1分，共10分）╳√ ╳╳╳√ ╳╳╳╳二、选择题（每题3分，共45分）bcdba acacb dbccd三、简答题（共45分）1、(1) 封闭条件下，本国可以用一半的生产一单位布的劳动时间生产一单位黄油。

国际经济学(1-4单元单项选择题以及答案)

International Economics’ Middle Test1. The mercantilists would have objected to:a. Export promotion policies initiated by the governmentb. The use of tariffs or quotas to restrict importsc. Trade policies designed to accumulate gold and other precious metalsd. International trade based on open markets2. Unlike Adam Smith, David Ricardo’s trading principle emphasizes the:a. Demand side of the marketb. Supply side of the marketc. Role of comparative costsd. Role of absolute costs3. A nation that gains from trade will find its consumption point being located:a. Inside its production possibilities curveb. Along its production possibilities curvec. Outside its production possibilities curved. None of the above4. If a production possibilities curve is bowed out (i.e., concave) in appearance, production occurs under conditions of:a. Constant opportunity costsb. Increasing opportunity costsc. Decreasing opportunity costsd. Zero opportunity costs5. Increasing opportunity costs suggest that:a. Resources are not perfectly shiftable between the production of two goodsb. Resources are fully shiftable between the production of two goodsc. A country’s production possibilities curve appears as a straight lined. A country’s produ ction possibilities curve is bowed inward (i.e., convex) in appearance6. The trading-triangle concept is used to indicate a nation’s:a. Exports, marginal rate of transformation, terms of tradeb. Imports, terms of trade, marginal rate of transformationc. Marginal rate of transformation, imports, exportsd. Terms of trade, exports, imports7. The earliest statement of the principle of comparative advantage is associated with:a. Adam Smithb. David Ricardoc. Eli Heckscherd. Bertil Ohlin8. When a nation achieves autarky equilibrium:a. Input price equals final product priceb. Labor productivity equals the wage ratec. Imports equal exportsd. Production equals consumption9. The gains from international trade increase as:a. A nation consumes inside of its production possibilities scheduleb. A nation consumes along its production possibilities schedulec. The international terms of trade rises above the nation’s autarky priced. The international terms of trad e approaches the nation’s autarky price10. Under free trade, Canada would not enjoy any gains from trade with Sweden if Canada:a. Trades at the Canadian rate of transformationb. Trades at Sweden’s rate of transformationc. Specializes completely in the production of its export goodd. Specializes partially in the production of its export good11. A rise in the price of imports or a fall in the price of exports will:a. Improve the terms of tradeb. W orsen the terms of tradec. Expand the production possibilities curved. Contract the production possibilities curve12. A term-of-trade index that equals 90 indicates that compared to the base year:a. It requires a greater output of domestic goods to obtain the same amount of foreign goodsb. It requires a lesser amount of domestic goods to obtain the same amount of foreign goodsc. The price of exports has fallen from $100 to $90d. The price of imports has fallen from $100 to $9013. The use of indifference curves helps us determine the point:a. Along the production possibilities curve a country will chooseb. At which a country maximizes its resource productivityc. At which a country ceases to become competitived. Where the marginal rate of transformation approaches zero14. The equilibrium prices and quantities established after trade are fully determinate if we know:a. The location of all countries’ indifference curvesb. The shape of each country’s production possibilities curvec. The comparative costs of each trading partnerd.The strength of world supply and demand for each good15. In the absence of trade, a nation is in equilibrium where a community indifference curve:a. Lies above its production possibilities curveb. Is tangent to its production possibilities curvec. Intersects its production possibilities curved. Lies below its production possibilities curve16. Which of the following is false concerning indifference curves?a. They illustrate how the nation ranks alternative consumption bundlesb. Higher curves refer to more satisfactionc.They are negatively sloped, being bowed out away from the diagram’s origind.They reflect the tastes and preferences of a consumer17. The marginal rate of substitution is measured by the absolute value of the slope of a (an):a. Production possibilities curveb. Indifference curvec. Production possibilities curved. Demand curve18. According to Staffan Linder, trade between two countries tends to be most pronounced when the countries:a. Find their tastes and preferences to be quite harmoniousb. Experience economies of large-scale production over large output levelsc. Face dissimilar relative abundances of the factors of productiond. Find their per capita income levels to be approximately the same19. Which of the following is a long-run theory, emphasizing changes in the trading position of a nation over a number of years?a. Theory of factor endowmentsparative advantage theoryc.Theory of the product cycled.Overlapping demand theory20. The Leontief paradox questioned the validity of the theory of:a. Comparative advantageb. Factor endowmentsc. Overlapping demandsd. Absolute advantage21. When considering the effects of transportation costs, the conclusions of our trade model must be modified. This is because transportation costs result in:a. Lower trade volume, higher import prices, smaller gains from tradeb. Lower trade volume, lower import prices, smaller gains from tradec. Higher trade volume, higher import prices, smaller gains from traded. Higher trade volume, lower import prices, greater gains from trade22. Eli Heckscher and Bertil Ohlin are associated with the theory of comparative advantage that stresses differences in:a. Income levels among countriesb. Tastes and preferences among countriesc. Resource endowments among countriesd. Labor productivities among countries23. A firm is said to enjoy economies of scale over the range of output for which the long-run average cost is:a. Increasingb. Constantc. Decreasingd. None of the above24. Which of the following best applies to the theory of overlapping demands?a. Manufactured goodsb. Servicesc. Primary productsd. None of the above25. Which trade theory is tantamount to a short-run version of the factor price equalization theory?a. Specific factors theoryb. Product life cycle theoryc. Economies of scale theoryd. Overlapping demand theory26. Intraindustry trade can be explained in part by:a. Adam Smith’s principle of absolute advantageb. Perfect competition in product marketsc. Diseconomies of large scale productiond. Transportation costs between and within nations27. Which of the following would least likely apply to the product life cycle theory?a. Calculators and computersb. Coal and crude oilc. Home movie camerasd. Office machinery28. According to the factor endowment model, countries heavily endowed with land will:a. Devote excessive amounts of resources to agricultural production c. Export products that are land-intensiveb. Devote insufficient amounts of resources to agricultural production d. Import products that are land-intensive29. Given free trade, small nations tend to benefit the most from trade since they:a. Are more productive than their large trading partnersb. A re less productive than their large trading partnersc. Have demand preferences and income levels lower than their large trading partnersd. Enjoy terms of trade lying near the opportunity costs of their large trading partners30. The terms of trade is given by the prices:a. Paid for all goods imported by the home countryb. Received for all goods exported by the home countryc. Received for exports and paid for importsd. Of primary products as opposed to manufactured productsAnswer:dccba dbdca baadb cbdcb accaa dbcdc。

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Chapter 9Application: International TradeTRUE/FALSE1. Trade decisions are based on the principle of absolute advantage.ANS: F DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage MSC: Interpretive2. The sum of consumer and producer surplus measures the total benefits that buyers and sellers receive fromparticipating in a market.ANS: T DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Total surplus MSC: Interpretive3. According to the principle of comparative advantage, all countries can benefit from trading with one anotherbecause trade allows each country to specialize in doing what it does best.ANS: T DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Interpretive4. The world price of cotton is the highest price of cotton observed anywhere in the world.ANS: F DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: Prices MSC: Definitional5. If the world price of a good is greater than the domestic price in a country that can engage in internationaltrade, then that country becomes an importer of that good.ANS: F DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade | Prices MSC: Interpretive6. Without free trade, the domestic price of a good must be equal to the world price of a good.ANS: F DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices MSC: Interpretive7. The nation of Aviana soon will abandon its no-trade policy and adopt a free-trade policy. If the world priceof goose meat is $3 per pound and the domestic price of goose meat without trade is $2 per pound, then Aviana should export goose meat.ANS: T DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Comparative advantage | Exports MSC: Interpretive8. If Argentina exports oranges to the rest of the world, Argentina's producers of oranges are worse off, andArgentina's consumers of oranges are better off, as a result of trade.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade | Economic welfare MSC: Applicative9. If a country’s domesti c price of a good is lower than the world price, then that country has a comparativeadvantage in producing that good.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage | Prices MSC: Interpretive594Chapter 9 /Application: International Trade 595 10. When a country allows international trade and becomes an importer of a good, domestic producers of the goodare better off, and domestic consumers of the good are worse off.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: Gains from trade MSC: Interpretive11. If the United Kingdom imports tea cups from other countries, then U.K. producers of tea cups are better off,and U.K. consumers of tea cups are worse off, as a result of trade.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade | Economic welfare MSC: Applicative12. If Belgium exports chocolate to the rest of the world, then Belgian chocolate producers benefit from higherproducer surplus, Belgian chocolate consumers are worse off because of lower consumer surplus, and total surplus in Belgium increases because of the exports of chocolate.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade | Economic welfare MSC: Applicative13. In principle, trade can make a nation better off, because the gains to the winners exceed the losses to thelosers.ANS: T DIF: 1 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade | Economic welfare MSC: Interpretive14. Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coastimposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory Coast will increase, but by less than $1.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Prices MSC: Interpretive15. The small-economy assumption is necessary to analyze the gains and losses from international trade.ANS: F DIF: 1 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade | Assumptions MSC: Interpretive16. The greater the elasticities of supply and demand, the smaller are the gains from trade.ANS: F DIF: 3 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade | Price elasticities of demand and supplyMSC: Applicative17. If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of thetariff.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Prices MSC: Interpretive18. When a government imposes a tariff on a product, the domestic price will equal the world price.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Prices MSC: Interpretive19. A tariff increases the quantity of imports and moves the market farther from its equilibrium without trade. ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Imports MSC: Applicative596 Chapter 9 /Application: International Trade20. When a country abandons no-trade policies in favor of free-trade policies and becomes an importer of steel,then the domestic price of steel will increase as a result.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: Imports | Prices MSC: Interpretive21. When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worseoff.ANS: T DIF: 1 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: Tariffs MSC: Interpretive22. When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse offand sellers of shoes in that country become better off.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: Tariffs MSC: Interpretive23. Deadweight loss measures the decrease in total surplus that results from a tariff or quota.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Deadweight losses MSC: Interpretive24. If a small country imposes a tariff on an imported good, domestic sellers will gain producer surplus, thegovernment will gain tariff revenue, and domestic consumers will gain consumer surplus.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Economic welfare MSC: Applicative25. Domestic consumers gain and domestic producers lose when the government imposes a tariff on imports. ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs MSC: Interpretive26. The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity ofwine imported, and increase the quantity of wine produced domestically.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Imports | Tariffs MSC: Interpretive27. Suppose that Australia imposes a tariff on imported beef. If the increase in producer surplus is $100 million,the increase in tariff revenue is $200 million, and the reduction in consumer surplus is $500 million, thedeadweight loss of the tariff is $300 million.ANS: F DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Deadweight losses MSC: Applicative28. Suppose Ecuador imposes a tariff on imported bananas. If the increase in producer surplus is $50 million, thereduction in consumer surplus is $150 million, and the deadweight loss of the tariff is $30 million, then the tariff generates $130 million in revenue for the government.ANS: T DIF: 3 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Deadweight losses MSC: Applicative29. Tariffs cause deadweight loss because they move the price of an imported product closer to the equilibriumwithout trade, thus reducing the gains from trade.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Deadweight losses MSC: InterpretiveChapter 9 /Application: International Trade 597 30. Import quotas and tariffs both cause the quantity of imports to fall.ANS: T DIF: 1 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Import quotas MSC: Interpretive31. Import quotas and tariffs make domestic sellers better off and domestic buyers worse off.ANS: T DIF: 2 REF: 9-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs | Import quotas | Economic welfare MSC: Interpretive32. Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost becauseof foreign competition.ANS: F DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy | Employment MSC: Interpretive33. Free trade causes job losses in industries in which a country does not have a comparative advantage, but it alsocauses job gains in industries in which the country has a comparative advantage.ANS: T DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage | Employment MSC: Interpretive34. Most economists support the infant-industry argument because it is so easy to implement in practice.ANS: F DIF: 1 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: Interpretive35. If Honduras were to subsidize the production of wool blankets and sell them in Sweden at artificially lowprices, the Swedish economy would be worse off.ANS: F DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy | Economic welfare MSC: Interpretive36. Policymakers often consider trade restrictions in order to protect domestic producers from foreign competitors. ANS: T DIF: 1 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: Interpretive37. GATT is an example of a successful unilateral approach to achieving free trade.ANS: F DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: GATT MSC: Interpretive38. NAFTA is an example of a multilateral approach to achieving free trade.ANS: T DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: NAFTA MSC: Interpretive39. The rules established under the General Agreement on Tariffs and Trade (GATT) are enforced by aninternational body called the World Trade Organization (WTO).ANS: T DIF: 1 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization, and tradeTOP: GATT | WTO MSC: Definitional40. A multilateral approach to free trade has greater potential to increase the gains from trade than a unilateralapproach, because the multilateral approach can reduce trade restrictions abroad as well as at home.ANS: T DIF: 2 REF: 9-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: Interpretive598 Chapter 9 /Application: International Trade41. The results of a 2007 Los Angeles Times poll suggest that a significant majority of Americans believe that freeinternational trade helps the American economy.ANS: F DIF: 2 REF: 9-4NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: Interpretive42. The results of a 2007 Los Angeles Times poll suggest that the percentage of Americans who believe trade isharmful to the economy exceeds the percentage of Americans who believe trade is beneficial to the economy. ANS: T DIF: 2 REF: 9-4NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: Interpretive43. Most economists view the United States as an ongoing experiment that raises serious doubts about the virtuesof free trade.ANS: F DIF: 1 REF: 9-4NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade policy MSC: InterpretiveChapter 9 /Application: International Trade 599 SHORT ANSWER1. Use the graph to answer the following questions about CDs.a.What is the equilibrium price of CDs before trade?b.What is the equilibrium quantity of CDs before trade?c.What is the price of CDs after trade is allowed?d.What is the quantity of CDs exported after trade is allowed?e.What is the amount of consumer surplus before trade?f.What is the amount of consumer surplus after trade?g.What is the amount of producer surplus before trade?h.What is the amount of producer surplus after trade?i.What is the amount of total surplus before trade?j.What is the amount of total surplus after trade?k.What is the change in total surplus because of trade?ANS:a.$12b.50c.$15d.30e.$250f.$122.50g.$250h.$422.50i.$500j.$545k.$45DIF: 2 REF: 9-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Exports | Economic welfare MSC: Applicative600 Chapter 9 /Application: International Trade2. Using the graph below, answer the following questions about hammers.a.What is the equilibrium price of hammers before trade?b.What is the equilibrium quantity of hammers before trade?c.What is the price of hammers after trade is allowed?d.What is the quantity of hammers imported after trade is allowed?e.What is the amount of consumer surplus before trade?f.What is the amount of consumer surplus after trade?g.What is the amount of producer surplus before trade?h.What is the amount of producer surplus after trade?i.What is the amount of total surplus before trade?j.What is the amount of total surplus after trade?k.What is the change in total surplus because of trade?ANS:a.$14b.90c.$10d.85e.$360f.$810g.$405h.$125i.$765j.$935k.$170DIF: 2 REF: 9-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Imports | Economic welfare MSC: ApplicativeChapter 9 /Application: International Trade 601 3. Using the graph, assume that the government imposes a $1 tariff on hammers. Answer the following questionsgiven this information.a.What is the domestic price and quantity demanded of hammers after the tariff is imposed?b.What is the quantity of hammers imported before the tariff?c.What is the quantity of hammers imported after the tariff?d.What would be the amount of consumer surplus before the tariff?e.What would be the amount of consumer surplus after the tariff?f.What would be the amount of producer surplus before the tariff?g.What would be the amount of producer surplus after the tariff?h.What would be the amount of government revenue because of the tariff?i.What would be the total amount of deadweight loss due to the tariff?ANS:a.$6, 84b.66c.44d.$384e.$294f.$45g.$80h.$44i.$11DIF: 2 REF: 9-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Tariffs | Economic welfare MSC: Applicative4. How does an import quota differ from an equivalent tariff?ANS:Both the import quota and the tariff raise the domestic price of the good, reduce the welfare of domestic consumers, increase the welfare of domestic producers, and cause deadweight losses. The only difference for the economy is that the tariff raises revenue for the government, while the import quota creates surplus for license holders.DIF: 2 REF: 9-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Tariffs | Import quotasMSC: Interpretive602 Chapter 9 /Application: International Trade5. Characterize the two different approaches a nation can take to achieve free trade. Does one approach have anadvantage over the other?ANS:A unilateral approach is when a country removes its trade restrictions on its own. A multilateral approach is when a country removes its trade restrictions while other countries do the same. A multilateral approach has two advantages. The first is that it has the potential to result in freer trade because it can reduce trade restrictions abroad as well as at home. If international negotiations fail, however, the result could be more restricted trade than under a unilateral approach. Also, the multilateral approach may have a political advantage and can sometimes win political support when a unilateral reduction cannot.DIF: 2 REF: 9-3 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Trade policyMSC: Interpretive6. What are the arguments in favor of trade restrictions, and what are the counterarguments? According to mosteconomists, do any of these arguments really justify trade restrictions? Explain.ANS:Arguments mentioned in the text include the jobs argument, the national security argument, the infant industry argument, the unfair competition argument, and the protection-as-a-bargaining-chip argument. These arguments and counter-arguments are outlined in section 9-3 of the text. Most economists would dismiss the jobs argument, the infant industry argument, and the unfair competition argument on strictly economic grounds. The bargaining-chip argument carries high risks of economic harm if the threat doesn't work. The national-security argument balances economic loss from trade restriction against the benefit of long-term national survival, and is probably the argument that economists would most likely buy if it were clear that the industry being protected was clearly crucial to national security.DIF: 2 REF: 9-3 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Trade policyMSC: InterpretiveSec00 - Application: International TradeMULTIPLE CHOICE1. An important factor in the decline of the U.S. textile industry over the past 100 or so years isa.foreign competitors that can produce quality textile goods at low cost.b.lower prices of goods that are substitutes for clothing.c. a decrease in Americans’ demand for clothing, due to increased incomes and the fact that clothingis an inferior good.d.the fact that the minimum wage in the U.S. has failed to keep pace with the cost of living.ANS: A DIF: 1 REF: 9-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade MSC: Interpretive2. With which of the Ten Principles of Economics is the study of international trade most closely connected?a.People face tradeoffs.b.Trade can make everyone better off.ernments can sometimes improve market outcomes.d.Prices rise when the government prints too much money.ANS: B DIF: 1 REF: 9-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade MSC: Interpretive3. Which of the following tools and concepts is useful in the analysis of international trade?a.total surplusb.domestic supplyc.equilibrium priced.All of the above are correct.ANS: D DIF: 1 REF: 9-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade MSC: InterpretiveChapter 9 /Application: International Trade 6034. A logical starting point from which the study of international trade begins isa.the recognition that not all markets are competitive.b.the recognition that government intervention in markets sometimes enhances the economic welfareof the society.c.the principle of absolute advantage.d.the principle of comparative advantage.ANS: D DIF: 1 REF: 9-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade | Comparative advantage MSC: InterpretiveSec01 - Application: International Trade - The Determinants of TradeMULTIPLE CHOICE1. What is the fundamental basis for trade among nations?a.shortages or surpluses in nations that do not tradeb.misguided economic policiesc.absolute advantageparative advantageANS: D DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade | Comparative advantage MSC: Interpretive2. Patterns of trade among nations are primarily determined bya.cultural considerations.b.political considerations.parative advantage.d.differences in the income elasticity of demand among nations.ANS: C DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: International trade | Comparative advantage MSC: Interpretive3. The nation of Pineland forbids international trade. In Pineland, you can buy 1 pound of fish for 2 pounds ofbeef. In other countries, you can buy 1 pound of fish for 1.5 pounds of beef. These facts indicate thata.Pineland has a comparative advantage, relative to other countries, in producing fish.b.other countries have a comparative advantage, relative to Pineland, in producing beef.c.the price of beef in Pineland exceeds the world price of beef.d.if Pineland were to allow trade, it would import fish.ANS: D DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage | World price MSC: Applicative4. The nation of Waterland forbids international trade. In Waterland, you can obtain a computer by trading 2bicycles. In other countries, you can obtain a computer by trading 3 bicycles. These facts indicate thata.if Waterland were to allow trade, it would export computers.b.Waterland has an absolute advantage, relative to other countries, in producing computers.c.Waterland has a comparative advantage, relative to other countries, in producing bicycles.d.All of the above are correct.ANS: A DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Applicative5. The principle of comparative advantage asserts thata.not all countries can benefit from trade with other countries.b.the world price of a good will prevail in all countries, regardless of whether those countries allowinternational trade in that good.c.countries can become better off by exporting goods, but they cannot become better off by importinggoods.d.countries can become better off by specializing in what they do best.ANS: D DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Interpretive6. A tax on an imported good is called aa.quota.b.tariff.c.supply tax.d.trade tax.ANS: B DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs MSC: Definitional7. A tariff is aa.limit on how much of a good can be exported.b.limit on how much of a good can be imported.c.tax on an exported good.d.tax on an imported good.ANS: D DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Tariffs MSC: Definitional8. The price of a good that prevails in a world market is called thea.absolute price.b.relative price.parative price.d.world price.ANS: D DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Price | International trade MSC: Definitional9. The price of sugar that prevails in international markets is called thea.export price of sugar.b.import price of sugar.parative-advantage price of sugar.d.world price of sugar.ANS: D DIF: 1 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Price | International trade MSC: Definitional10. If a country allows trade and, for a certain good, the domestic price without trade is higher than the worldprice,a.the country will be an exporter of the good.b.the country will be an importer of the good.c.the country will be neither an exporter nor an importer of the good.d.Additional information is needed about demand to determine whether the country will be anexporter of the good, an importer of the good, or neither.ANS: B DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Imports MSC: Interpretive11. If a country allows trade and, for a certain good, the domestic price without trade is lower than the world price,a.the country will be an exporter of the good.b.the country will be an importer of the good.c.the country will be neither an exporter nor an importer of the good.d.Additional information is needed about demand to determine whether the country will be anexporter of the good, an importer of the good, or neither.ANS: A DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Exports MSC: Interpretive12. For any country, if the world price of zinc is higher than the domestic price of zinc without trade, that countryshoulda.export zinc, since that country has a comparative advantage in zinc.b.import zinc, since that country has a comparative advantage in zinc.c.neither export nor import zinc, since that country cannot gain from trade.d.neither export nor import zinc, since that country already produces zinc at a low cost compared toother countries.ANS: A DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Exports | Comparative advantage MSC: Applicative13. If the world price of textiles is higher than Vietnam’s domestic price of textiles without trade, then Vietnama.should import textiles.b.has a comparative advantage in textiles.c.should produce just enough textiles to meet its domestic demand.d.should refrain altogether from producing textiles.ANS: B DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Comparative advantage MSC: Interpretive14. Assume, for Singapore, that the domestic price of soybeans without international trade is higher than the worldprice of soybeans. This suggests that, in the production of soybeans,a.Singapore has a comparative advantage over other countries and Singapore will import soybeans.b.Singapore has a comparative advantage over other countries and Singapore will export soybeans.c.other countries have a comparative advantage over Singapore and Singapore will import soybeans.d.other countries have a comparative advantage over Singapore and Singapore will export soybeans. ANS: C DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Comparative advantage MSC: Applicative15. Assume, for the U.S., that the domestic price of beef without international trade is lower than the world priceof beef. This suggests that, in the production of beef,a.the U.S. has a comparative advantage over other countries and the U.S. will export beef.b.the U.S. has a comparative advantage over other countries and the U.S. will import beef.c.other countries have a comparative advantage over the U.S. and the U.S. will export beef.d.other countries have a comparative advantage over the U.S. and the U.S. will import beef.ANS: A DIF: 2 REF: 9-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Prices | Comparative advantage MSC: Applicative。