《国际经济学》选择题汇总版(附答案)

《国际经济学》选择题汇总版（附答案）

Ch1-Ch3

1.The United States is less dependent on trade than most other countries because

A) the United States is a relatively large country with diverse resources.

B) the United States is a “Superpower.”

C)the military power of the United States makes it less dependent on anything.

D) the United States invests in many other countries.

E) many countries invest in the United States.

2. Because the Constitution forbids restraints on interstate trade,

A) the U.S. may not impose tariffs on imports from NAFTA countries.

B) the U.S. may not affect the international value of the $ U.S.

C) the U.S. may not put restraints on foreign investments in California if it involves a financial intermediary in New York State.

D) the U.S. may not impose export duties.

E) the U.S. may not disrupt commerce between Florida and Hawaii.

3. International economics can be divided into two broad sub-fields

A) macro and micro.

B) developed and less developed.

C) monetary and barter.

D) international trade and international money.

E) static and dynamic.

4. International monetary analysis focuses on

A) the real side of the international economy.

B) the international trade side of the international economy.

C) the international investment side of the international economy.

D) the issues of international cooperation between Central Banks.

E) the monetary side of the international economy, such as currency exchange.

5. The gravity model offers a logical explanation for the fact that

A)trade between Asia and the U.S. has grown faster than NAFTA trade.

B) trade in services has grown faster than trade in goods.

C) trade in manufactures has grown faster than in agricultural products.

D) Intra-European Union trade exceeds international trade by the European Union.

E) the U.S. trades more with Western Europe than it does with Canada.

6. The gravity model explains why

A)trade between Sweden and Germany exceeds that between Sweden and Spain.

B)countries with oil reserves tend to export oil.

C)capital rich countries export capital intensive products.

D) intra-industry trade is relatively more important than other forms of trade between neighboring

countries.

E) European countries rely most often on natural resources.

7. Why does the gravity model work?

A) Large economies became large because they were engaged in international trade.

B) Large economies have relatively large incomes, and hence spend more on government promotion of trade and investment.

C) Large economies have relatively larger areas which raises the probability that a productive activity will take place within the borders of that country.

D) Large economies tend to have large incomes and tend to spend more on imports.

E) Large economies tend to avoid trading with small economies.

8. We see that the Netherlands, Belgium, and Ireland trade considerably more with the United States than with many other countries.

A) This is explained by the gravity model, since these are all large countries.

B) This is explained by the gravity model, since these are all small countries.

C) This fails to be consistent with the gravity model, since these are small countries.

D)This fails to be consistent with the gravity model, since these are large countries.

E)This is explained by the gravity model, since they do not share borders.

9. In the present, most of the exports from China are

A) manufactured goods.

B) services.

C)primary products including agricultural.

D) technology intensive products.

E) overpriced by world market standards.

10. A country engaging in trade according to the principles of comparative advantage gains from trade because it

A) is producing exports indirectly more efficiently than it could alternatively.

B) is producing imports indirectly more efficiently than it could domestically.

C) is producing exports using fewer labor units.

D) is producing imports indirectly using fewer labor units.

E) is producing exports while outsourcing services.

11. The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to

A) differences in technology.

B) differences in preferences.

C)differences in labor productivity.

D) differences in resources.

E) gravity relationships among countries.

12. A nation engaging in trade according to the Ricardian model will find its consumption bundle

A) inside its production possibilities frontier.

B)on its production possibilities frontier.

C)outside its production possibilities frontier.

D) inside its trade-partner‘s production possibilities frontier.

E)on its trade-partner‘s production possibilities frontier.

13. Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if

A) U.S. labor productivity equaled 40 units per hour and Japan‘s 15 units per hour.

B) U.S. labor productivity equaled 30 units per hour and Japan‘s 20 units per hour.

C) U.S. labor productivity equaled 20 units per hour and Japan‘s 30 units per hour.

D) U.S. labor productivity equaled 15 units per hour and Japan‘s 25 units per hour.

E) U.S. labor productivity equaled 15 units per hour and Japan‘s 40 units per hour.

14. In a two-country, two-product world, the statement “Germany enjoys a comparative advantage over France in autos relative to ships”is equivalent to

A) France having a comparative advantage over Germany in ships.

B) France having a comparative disadvantage compared to Germany in autos and ships.

C) Germany having a comparative advantage over France in autos and ships.

D) France having no comparative advantage over Germany.

E) France should produce autos.

15. If the United States' production possibility frontier was flatter to the widget axis, whereas Germany's was flatter to the butter axis, we know that

A) the United States has no comparative advantage

B) Germany has a comparative advantage in butter.

C) the U.S. has a comparative advantage in butter.

D) Germany has comparative advantages in both products.

E) the U.S. has a comparative disadvantage in widgets.

Ch4-Ch5

1.The Ricardian model of international trade demonstrates that trade can be mutually beneficial. Why, then, do governments restrict imports of some goods?

A)Trade can have substantial effects on a country‘s distribution of income.

B) The Ricardian model is often incorrect in its prediction that trade can be mutually beneficial.

C) Import restrictions are the result of trade wars between hostile countries.

D) Imports are only restricted when foreign-made goods do not meet domestic standards of quality.

E) Restrictions on imports are intended to benefit domestic consumers.

2. Japan‘s trade policies with regard to rice reflect the fact that

A)japanese rice farmers have significant political power.

B) Japan has a comparative advantage in rice production and therefore exports most of its rice crop.

C) there would be no gains from trade available to Japan if it engaged in free trade in rice.

D) there are gains from trade that Japan captures by engaging in free trade in rice.

E) Japan imports most of the rice consumed in the country.

3. In the specific factors model, which of the following is treated as a specific factor?

A)Labor

B) Land

C) Cloth

D) Food

E) Technology

4. The specific factors model assumes that there are ________ goods and ________ factor(s) of production.

A) two; three

B) two; two

C) two; one

D) three; two

E) four; three

5. The slope of a country‘s production possibility frontier with cloth measured on the horizontal and food measured on the vertical axis in the specific factors model is equal to

________ and it ________ as more cloth is produced.

A) -MPLF/MPLC; becomes steeper

B) -MPLF/MPLC; becomes flatter

C) -MPLF/MPLC; is constant

D) -MPLC/MPLF; becomes steeper

E) -MPLC/MPLF; is constant

6. Under perfect competition, the equilibrium price of labor used to produce cloth will be equal to

A)the slope of the production possibility frontier.

B) the average product of labor in the production of cloth times the price of cloth.

C) the ratio of the marginal product of labor in the production of cloth to the marginal product of labor in the production of food times the ratio of the price of cloth. to the price of food.

D) the marginal product of labor in the production of cloth times the price of cloth.

E) the price of cloth divided by the marginal product of labor in the production of cloth.

7. In the specific factors model, which of the following will increase the quantity of labor used in cloth production?

A)an increase in the price of cloth relative to that of food

B) an increase in the price of food relative to that of cloth

C) a decrease in the price of labor

D) an equal percentage decrease in the price of food and cloth

E) an equal percentage increase in the price of food and cloth

8. A country that does not engage in trade can benefit from trade only if

A)it has an absolute advantage in at least one good.

B) it employs a unique technology.

C) pre-trade and free-trade relative prices are not identical.

D) its wage rate is below the world average.

E) pre-trade and free-trade relative prices are identical.

9. In the specific factors model, the effects of trade on welfare are ________ for mobile factors, ________ for fixed factors used to produce the exported good, and ________ for fixed factors used to produce the imported good.

A)ambiguous; positive; negative

B) ambiguous; negative; positive

C) positive; ambiguous; ambiguous

D) negative; ambiguous; ambiguous

E) positive; positive; positive

10.The effect of trade on specialized employees of import-competing industries will be ________ jobs and ________ pay because they are relatively ________.

A)fewer; lower; mobile

B) fewer; lower; immobile

C) more; lower; immobile

D) more; higher; mobile

E) more; higher; immobile

11. There is a bias in the political process against free trade because

A)there is a high correlation between the volume of imports and the unemployment rate.

B) the gains from free trade cannot be measured.

C) those who gain from free trade can‘t compensate those who lose.

D) foreign governments make large donations to U.S. political campaigns.

E) those who lose from free trade are better organized than those who gain.

12.In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in

A)tastes and preferences.

B) military capabilities.

C) the size of their economies.

D) relative abundance of factors of production.

E) labor productivities.

13. If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to

A)the opportunity cost of good X.

B) the price of good X divided by the price of good Y.

C) the price of good X divided by the price of good Y.

D) the opportunity cost of good Y.

E) the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor.

14. In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners of a country‘s ________ factor and will ________ the good that uses that factor intensively.

A)benefit; abundant; export

B)harm; abundant; import

C) benefit; scarce; export

D) benefit; scarce; import

E) harm; scarce; export

15. The assumption of diminishing returns in the Heckscher-Ohlin model means that, unlike in the Ricardian model, it is likely that

A) countries will consume outside their production possibility frontier.

B) countries will benefit from free international trade.

C) countries will not be fully specialized in one product.

D) comparative advantage will not determine the direction of trade.

E) global production will decrease under trade.

16.If Japan is relatively capital rich and the United States is relatively land rich, and if food is relatively land intensive then trade between these two, formerly autarkic countries will result in

A)an increase in the relative price of food in the U.S.

B) an increase in the relative price of food in Japan.

C) a global increase in the relative price of food.

D) a decrease in the relative price of food in both countries.

E) an increase in the relative price of food in both countries.

17. Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively labor abundant, then once trade begins

A) rent will be unchanged but wages will rise in H.

B) wages and rents should rise in H.

C) wages and rents should fall in H.

D) wages should fall and rents should rise in H.

E) wages should rise and rents should fall in H.

18.The Leontieff Paradox

A) failed to support the validity of the Heckscher-Ohlin model.

B) supported the validity of the Ricardian theory of comparative advantage.

C) supported the validity of the Heckscher-Ohlin model.

D) failed to support the validity of the Ricardian theory.

E) proved that the U.S. economy is different from all others.

19. Which of the following is an assertion of the Heckscher-Ohlin model?

A) Factor price equalization will occur only if there is costless mobility of all factors across borders.

B) An increase in a country‘s labor supply will increase production of both the capital-intensive and the labor-intensive good.

C) In the long-run, labor is mobile and capital is not.

D) The wage-rental ratio determines the capital-labor ratio in a country‘s industries.

E) Factor endowments determine the technology that is available to a country, which determines the good in which the country will have a comparative advantage.

20. Which of the following is an assertion of the Heckscher-Ohlin model?

An increase in a country‘s labor supply will increase production of the A)labor-intensive good and decrease production of the capital-intensive good.

B) An increase in a country‘s labor supply will increase production of both the capital-intensive and the labor-intensive good.

C) In the long-run, labor is mobile and capital is not.

D) Factor price equalization will occur only if there is costless mobility of all factors across borders.

E) Factor endowments determine the technology that is available to a country, which determines the good in which the country will have a comparative advantage.

Ch6-Ch10

1.If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

A) the terms of trade of cloth exporters will improve.

B) all countries would be better off.

C) the terms of trade of food exporters will improve.

D) the terms of trade of all countries will improve.

E) the terms of trade of cloth exporters will worsen.

2.If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

A) world relative quantity of cloth supplied will increase.

B) world relative quantity of cloth supplied and demanded will increase.

C) world relative quantity of cloth supplied and demanded will decrease.

D) world relative quantity of cloth demanded will decrease.

E) world relative quantity of food will increase.

3.If the U.S. (a large country) imposes a tariff on its imported good, this will tend to

A) have no effect on terms of trade.

B) improve the terms of trade of the United States.

C) improve the terms of trade of all countries.

D) because a deterioration of U.S. terms of trade.

E) raise the world price of the good imported by the United States.

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

A) decrease its marginal propensity to consume.

B) have no effect on its terms of trade.

C) improve its terms of trade.

D) harm its terms of trade.

E) harm world terms of trade.

5.Internal economies of scale arise when the cost per unit

A) falls as the average firm grows larger.

B) rises as the industry grows larger.

C) falls as the industry grows larger.

D) rises as the average firm grows larger.

E) remains constant over a broad range of output.

6. External economies of scale will ________ average cost when output is ________ by

________.

A) reduce; increased; the industry

B) reduce; increased; a firm

C) increase; increased; a firm

D) increase; increased; the industry

E) reduce; reduce; the industry

7. If some industries exhibit internal increasing returns to scale in each country, we should not expect to see

A) perfect competition in these industries.

B) intra-industry trade between countries.

C) inter-industry trade between countries.

D) high levels of specialization in both countries.

E) increased productivity in both countries.

8. A learning curve relates ________ to ________ and is a case of ________ returns.

A) unit cost; cumulative production; dynamic decreasing returns

B) output per time period; long-run marginal cost; dynamic increasing returns

C) unit cost; cumulative production; dynamic increasing returns

D) output per time period; long-run marginal cost; dynamic decreasing returns

E) labor productivity; education; increasing marginal returns

9.Patterns of interregional trade are primarily determined by ________ rather than ________ because factors of production are generally ________.

A) external economies; natural resources; mobile

B) internal economies; external economies; mobile

C) external economies; population; immobile

D) internal economies; population; immobile

E) population; external economies; immobile

10. Monopolistic competition is associated with

A) product differentiation.

B) price-taking behavior.

C) explicit consideration at the firm level of the strategic impact of other firms' pricing decisions.

D) high profit margins in the long run.

E) increasing returns to scale.

11. A firm in long-run equilibrium under monopolistic competition will earn

A) positive monopoly profits because each sells a differentiated product.

B) zero economic profits because of free entry

C) positive oligopoly profits because each firm sells a differentiated product.

D) negative economic profits because it has economies of scale.

E) positive economic profit if it engages in international trade.

12. The most common form of price discrimination in international trade is

A) dumping.

B) non-tariff barriers.

C) Voluntary Export Restraints.

D) preferential trade arrangements.

E) product boycotts.

13.Consider the following two cases. In the first, a U.S. firm purchases 18% of a foreign firm. In the second, a U.S. firm builds a new production facility in a foreign country. Both are

________, with the first referred to as ________ and the second as ________.

A) foreign direct investment (FDI) outflows; brownfield; greenfield

B) foreign direct investment (FDI) inflows; greenfield; brownfield

C) foreign direct investment (FDI) outflows; greenfield; brownfield

D) foreign direct investment (FDI) inflows; brownfield; greenfield

E) foreign direct investment (FDI); inflows; outflows

14. Specific tariffs are

A) import taxes stated in specific legal statutes.

B) import taxes calculated as a fixed charge for each unit of imported goods.

C) import taxes calculated as a fraction of the value of the imported goods.

D) the same as import quotas.

E) import taxes calculated based solely on the origin country.

15. A problem encountered when implementing an "infant industry" tariff is that

A) domestic consumers will purchase the foreign good regardless of the tariff.

B) the industry may never "mature."

C) most industries require tariff protection when they are mature.

D) the tariff may hurt the industry's domestic sales.

E) the tariffs fail to protect the domestic producers.

16. In the country levying the tariff, the tariff will

A) increase both consumer and producer surplus.

B) decrease both the consumer and producer surplus.

C) decrease consumer surplus and increase producer surplus.

D) increase consumer surplus and decrease producer surplus.

E) decrease consumer surplus but leave producers surplus unchanged.

17. If the tariff on computers is not changed, but domestic computer producers shift from domestically produced semiconductors to imported components, then the effective rate of protection in the computer industry will

A) increase.

B) decrease

C) remain the same.

D) depend on whether computers are PCs or "Supercomputers."

E) no longer apply.

18. When a government allows raw materials and other intermediate products to enter a country duty free, this generally results in a(an)

A) effective tariff rate less than the nominal tariff rate.

B) nominal tariff rate less than the effective tariff rate.

C) rise in both nominal and effective tariff rates.

D) fall in both nominal and effective tariff rates.

E) rise in only the effective tariff rate.

19. Should the home country be "large" relative to its trade partners, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms of the trade rectangle exceed the sum of the

A) revenue effect plus redistribution effect.

B) protective effect plus revenue effect.

C) consumption effect plus redistribution effect.

D) production distortion effect plus consumption distortion effect.

E) terms of trade gain.

20. The efficiency case made for free trade is that as trade distortions such as tariffs are dismantled and removed,

A) government tariff revenue will decrease, and therefore national economic welfare will decrease.

B) government tariff revenue will decrease, and therefore national economic welfare will increase.

C) deadweight losses for producers and consumers will decrease, hence increasing national economic welfare.

D) deadweight losses for producers and consumers will decrease, hence decreasing national economic welfare.

E) government tariff revenue will increase, hence increasing national economic welfare.

21. Which organization determines procedures for the settlement of international trade disputes?

A) World Bank

B) World Trade Organization

C) International Monetary Organization

D) International Bank for Reconstruction and Development

E) The League of Nations

22. Today U.S. protectionism is concentrated in

A) high-tech industries.

B) labor-intensive industries.

C) industries in which Japan has a comparative advantage.

D) computer intensive industries.

E) capital-intensive industries.

23. The quantitative importance of U.S. protection of the domestic clothing industry is best explained by the fact that

A) this industry is an important employer of highly skilled labor.

B) this industry is an important employer of low skilled labor.

C) most of the exporters of clothing into the U.S. are poor countries.

D) this industry is a politically well organized sector in the U.S.

E) the technology involved is very advanced.

24. The optimum tariff is most likely to apply to

A) a small tariff imposed by a small country.

B) a small tariff imposed by a large country.

C) a large tariff imposed by a small country.

D) a large tariff imposed by a large country.

E) an ad valorem tariff on a small country.

25. The median voter model

A) works well in the area of trade policy.

B) is not intuitively reasonable.

C) tends to result in biased tariff rates.

D) does not work well in the area of trade policy.

E) is not widely practiced in the United States.

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