国际经济学英文题库(最全版附答案).docx

【国际经济学】英文题库ChaPter 1: IntroductionMultiple-Choice QUeStiO ns1. 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, airpla nes2. InternatiOnal trade is most important to the Standard of living of:A. the United StateS*B. SWitZerIandC. Germa nyD. England3. OVer time, the economic interdependence of natiOnS has:*A. grownB. dimi nishedC. rema ined Un Cha ngedD. 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 above5. EConomic interdependence is greater for:*A. small natiOnSnations isB. large natiOnSC. developed n atio nsD. develop ing n ati OnS6. The gravity model of internatiOnal trade PrediCtS that trade between twoIargerA. the Iarger 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 WeIfare of the natiOn*D. all of the above8. InternatiOnal trade theory refers to:*A. the microecOnomic aspects of internatiOnal tradeB. the macroecOnomic aspects of internatiOnal tradeC. open economy macroecOnomics or international financeD. all of the above9. WhiCh of the following is not the SUbjeCt matter of internatiOnal 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 surro UndS an econo mic eve nt*D. all of the above11. WhiCh of the follow ing is not an assumpti On gen erally made in the StUdy of in ter 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 SimiIar to interregiOnal trade in that both must overcome:*A. distance and SPaCeB. trade restrictiOnSC. differe nces in CUrre nciesD. differe nces in mon etary SyStemS14. The opening or expansion Of internatiOnal trade usually affects all members of so ciety:A. POSitiVeIyB. negatively*C. most POSitiVeIy but some negativelyD. most negatively but Some PoSitiVely15. An inCreaSe in the dollar PriCe of a foreign CUrrency usually:A. ben efit U.S. importers*B. ben efits U.S. exportersC. ben efit 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 Con tributors Were not econo mistsD. none of the above思考题:1. 为什么学习国际经济学非常重要？2. 列举体现当前国际经济学问题的一些重要事件，它们为什么重要？3. 当今世界面临的最重要的国家经济问题是什么？全球化的利弊各是什么?ChaPter 2: The LaW of COmParatiVe AdVantageMultiple-Choice QUeStiO ns1. The MerCantilists did not advocate:*A.free tradeB. StimUIating 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 proport ion Of intern ati Onaltrade is based On absolute adva ntage?A. AllB. most*C. someD. none 4. The commodity in WhiCh the natiOn has the smallest absolute disadvantage is the commodity of its:A. absolute disadvantageB. absolute advantageC. COmParatiVe disadva ntage*D. COmParatiVe advantageB. an absolute disadvantageC. a COmParatiVe disadva ntage 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 in put):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 A5. If in a two-natiOn (A and B), two-commodity (X and Y) world, it is established tha t natiOn A has a COmParatiVeadvantage in commodity X, then natiOn B must have: A. an absolute advantage in commodity Yin commodity YB. 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 comb ined dema nd for each commodity by the two n ati OnS is n egatively slope dB. the combined SUPPIy 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 in tersecti On Of the dema nd and SUPPIy of each commodity by the two n ati OnS *D. all of the above13. A difference in relative commodity PriCeS between two natiOnS Can be based upo n a difference in:A. factor endowmentsB. tech no IogyC. 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 inconCIUSiVe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 TradeMUItiPle-ChoiCe QUeStiO ns1. A PrOdUCtiOn frontier that is ConCaVe from the origin indicates that the nation inCUrS inCreaSing opportUnity costs in the PrOdUCtion of:A. commodity X OnlyB. commodity Y OnIy*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. tech no Iogy differs among n atio nsB. factors of PrOdUCtion are not homogeneousC. factors of PrOdUCtion are not USed in the Same fixed proportiOn in the PrOdUCtiOnof all commoditiesD. for the natiOn to PrOdUCe more of a commodity, it must USe resources that are leSS and less SUited in the PrOdUCtion Of the commodity4. Community indifference curves:A. are negatively slopedB. are ConVeX to the OriginC. should not cross*D. all of the above5. The marginal rate of SUbStitUtiOn (MRS) of X for Y in ConSUmPtiOn refers to the:A. amount of X that a n ati On must give UP for One extra Un it of Y and still rema in o n the Same indifference CUrVe*B. amount of Y that a n ati On must give UP for One extra Un it of X and still rema in On the Same indifference CUrVeC. amount of X that a natiOn must give UP for One extra Unit of Y to reach a higher in differe nce CUrVeD. amount of Y that a natiOn must give UP for One extra Unit of X to reach a higher in differe nce 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 above7. 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 aris ing from in tersect ing com munity in differe nce 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 POSSibIe 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/Py9. If the internal Px/Py is lower in natiOn 1 than in natiOnA. nation 1 has a COmParatiVe adva ntage in commodity YB. nation 2 has a COmParatiVe adva ntage in commodity X*C .n atiOn2 hasaCOmParatiVeadvantageir I commodity YD. none of the above2 WithOUt trade:10. NatiOn 1's Share of the gains from trade Will be greater:A. the greater is n ati On 1's dema nd for n atio n 2's exports*B. the closer Px/Py With trade SettIeS to natiOn 2's Pretrade Px/PyC. the Weaker is n ati On 2's dema nd for n atio n 1's exportsD. the closer Px/Py With trade SettIeS to natiOn 1's Pretrade Px/Py11. If Px/Py exceeds the equilibrium relative Px/Py With tradeA. the nation exporting commodity X will Want to export more of X than at ium equilibrB. the nation importing commodity X will Want to import less of X than atUmequilibri C. Px/Py will fall toward the equilibrium Px/Py*D. all of the above12. With free trade Under inCreaSing costs:A. neither nation will SPeCiaIiZe 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 SPeCiaIiZatiOnB. gains from exchange result even WithOUt SPeCiaIiZatiOn*C. gains from SPeCiaIiZatiOn result even WithOUt exchangeD. none of the above14. The gains from exchange With respect to the gains from SPeCiaIiZatiOn are always:A. greaterB. smallerC. equal*D. We Cannot Say WithOUt additiOnal informatiOn15. MUtUaIIy 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 TradeMUItiPIe ChOiCe QUeStiOnS1. WhiCh of the following Statements is correct?A. The dema nd for imports is give n by the excess dema nd for the commodityB. the SUPPIy of exports is given by the excess SUPPIy of the commodityC. the SUPPIy CUrVe of exports is flatter than the total SUPPIy CUrVe of the commodity*D. all of the above2. At a relative commodity PriCe above equilibriumA. the excess dema nd for a commodity exceeds the excess SUPPIy Of the commodityB. the quantity demanded of imports exceeds the quantity SUPPIied of exports*C. the commodity PriCe Will fallD. all of the above3. The offer CUrVe of a natiOn shows:A. the SUPPIy of a nation's importsB. the dema nd for a n ati on's exportsC. the trade Part ner's dema nd for imports and SUPPIy of exports*D. the n ati on's dema nd for imports and SUPPIy of exports4. The offer CUrVe of a nation bulges toward the axis measuring the natiOnSA. import commodity*B. export commodityC. export or import commodityD. non traded 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 PartiaI equilibrium analysis is false?A. It relies On traditi Onal dema nd and SUPPIy 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 PartiaI equilibrium analysis is true?A. The dema nd and SUPPIy CUrVe are derived from the n atio n's PrOdUCt ion fron tier an d in differe nce mapB. It shows the Same basic informatiOn as offer CUrVeSC. It shows the Same equilibrium relative commodity PriCeS as With Offer CUrVeS*D. all of the above8. In What Way does PartiaI equilibrium analysis differ from general equilibrium analyA. The former but not the Iatter Can be USed to determine the equilibrium PriCe WithtradeB. the former but not the Iatter Can be USed to determine the equilibrium quantityWith tradeC. the former but not the Iatter takes in to Con Siderati On the in teractio n 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 trade Partner are:A. 3/4*B. 2/3C. 3/2D. 4/310. If the terms of trade inCreaSe in a two-natiOn world, those of the trade Partner:*A. deteriorateB. improveC. rema in Un Cha ngedD. 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. in tersects the Straight-Ii ne Segme nt of the world's offer CUrVeD. in tersects the positively-sloped porti On Of the world's offer CUrVe12. If the n ati on's tastes for its import commodity in creases:A. the nation's offer CUrVe rotates toward the axis measuring its import commodityB. the Partner's OfferCUrVe rotatestoward the axismeasuring itsimport commodityC. the Partner's OfferCUrVe rotatestoward the axismeasuring itsexport commodity*D. the nation's offerCUrVe r otates toward the axis measuring its export commodity13. If the n ati on's tastes for its import commodity in creases:A. the n ati on's terms of trade rema in Un Cha nged*B. the nation's terms of trade deteriorateC. the Partner's terms of trade deteriorateD. any Of the above14. If the tastes for a n ati On import commodity in creases, trade volume:*A. inCreaSeSB. decli nesC. rema ins Un Cha ngedD. any Of the above15. A deterioratiOn Of a nation's terms of trade CaUSeS the nation's WeIfare to:A. deteriorateB. improveC. rema in Un Cha nged*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-OhIin TheOryMultiple-Choice QUeStiO ns1. The H-O model extends the CIaSSiCaI 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 tech no Iogy in both n ati OnSB. ConStant returns to scale*C. complete SPeCiaIiZatiOnD. equal tastes in both nations3. With equal tech no Iogy n ati OnS will have equal K/L in PrOdUCt ion 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 KZL is USed in the PrOdUCtion Of X than Y5. When WZr falls, LZKA. 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 LZK ratio*D. lower r/w7. A difference in relative commodity PriCeS between natiOnS Can be based On a diffe rence in:A. tech noIogyB. factor endowmentsC. tastes*D. all of the above8. In the H-O model, internatiOnal trade is based mostly On a difference in:A. tech noIogy*B. factor endowmentsC. economies of scaleD. tastes9. ACCOrding to the H-O model, trade reduces internatiOnalA. 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 intern ati Onal differe nces in Per CaPita in comesB. in CreaSeS intern ati Onal differe nces in Per CaPita in comes *C. may inCreaSe or reduce internatiOnal differences in PerD. lead to complete SPeCiaIiZatiOn11. The H-O model is a general equilibrium model becauseA. PrOdUCtion in both natiOnSB. ConSUmPtiOn in both natiOnSC. trade between the two natiOnS*D. all of the above12. The H-O model is a SimPIifiCatiOn Of the a truly generalbecause 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 exportsdiffere nces in:CaPita in comes it deals with:equilibrium modelB. 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 factorsB. the Same K/L ratioC. tech no IogiCally-fixed factor proport ionsD. 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 TMultiple-Choice QUeSti ons:1. Relaxing the assumptions On WhiCh the HeCkSCher-OhIin theory rests:A. leads to reject ion Of the theoryB. IeaVeS the theory Unaffected*C. requires ComPlementary trade theoriesD. any Of the above.WhiCh of the following assumptiOnS of the HeCkSCher-OhIin theory, When relaxed, leav e the theory Unaffected?A. Two nations, two commodities, and two factorsB. both n ati OnS USe the Same tech no IogyC. the Same commodity is L-intenSiVe in both natiOnS*D. all of the aboveWhiCh of the following assumptiOnS of the HeCkSCher-OhIin theory, When relaxed, require new trade theories?*A. EConomies of scaleB. in complete SPeCiaIiZati OnC. SimiIar 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. tech no Iogy*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-OhIin and new trade theories explains most of the trade:A. among in dustrial CoUn triesB. between developed and developing CoUntriesC. in in dustrial goods*D. all of the aboveThe theory that a nation exports those PrOdUCtS for WhiCh a large domesticXiStSWaS advaneed by:*A. LinderB. VernonC. Leon tiefD. 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 PreVaIent form of market organiZatiOnD. all of the aboveIf a natiOn exports twice as muCh of a differentiated PrOdUCt that it imports, indUStry (T) index is eqUal to:A. 1.00B. 0.75*C. 0.50D. 0.2510. Trade based On tech no IogiCal gaps is closely related to:A. the H-O theory market e its intra-*B. the PrOdUCt-CyCIe theoryC. Linder's theoryD. all of the above11. WhiCh of the following Statements is true With regard to the PrOdUCt-CyCIe theor y?A. It depe nds On differe nces in tech no IogiCal Cha nges over time among CoUn triesB. it depe nds On the ope ning and the clos ing of tech no IogiCal gaps among CoUn triesC. it postulates that in dustrial CoUn tries export more adva need PrOdUCtS to less adva n Ced 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 dema nd and SUPPIy 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 dema nd and SUPPIy of the traded commodityB. With the less elastic dema nd and SUPPIy of the traded commodityC. export ing agricUltUral PrOdUCtSD. With the IargeSt 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 TradeMultiple-Choice QUeStiO ns1. Dynamic factors in trade theory refer to Changes in:A. factor endowmentsB. tech no IogyC. 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. IeaVeS 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. IeaVeS 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 CommodityI*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 aboveTeCh ni cal PrOgreSS that in CreaSeS the PrOdUCtiVity of L proport ion ately more tha n the PrOdUCtiVity of K is called:*A. CaPitaI SaVingB. labor SaVingC. n eutralD. 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 WeIfareB. reduces the nation's terms of tradeC. reduces the volume of tradeD. all of the above9. Doubling L With trade in a large L-abUndant nation:A. reduces the nation's social WeIfareB. reduces the nation's terms of tradeC. reduces the volume of trade*D. all of the abovenation's terms of trade Can be expected *A.deteriorateB. improveC. rema in Un Cha ngedD. any Of the aboveA proportiOnately greater inCreaSe in the nation's SUPPIy of labor than Of CaPitaI is likelyto result in a deterioratiOnin the nation's terms of trade if the natiOn exports: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 WeIfareB. will reduce the nation's WeIfareC. will inCreaSe the nation's WeIfareIf, at UnChangedterms of trade, a nation WantS to trade more after growth, then theto:D. IeaVeS the nation's WeIfare UnChanged13. Doubling K With trade in a large L-abUndant nation:A. inCreaSeS the nation's WeIfareB. 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. IeaVeS 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 QUeSti OnS1. WhiCh of the followi ng Stateme nts is in correct?A. An ad valorem tariff is expressed as a PerCentage of the value of the traded com modityB. A SPeCifiC tar肝is expressed as a fixed SUm of the value of the traded commodity.C. EXPOrt tariffs are PrOhibited by the U.S. ConStitUtiOn。

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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.。

克鲁格曼《国际经济学》（国际金融部分）课后习题答案（英文版）第一章

克鲁格曼《国际经济学》（国际金融部分）课后习题答案（英文版）第一章CHAPTER 1INTRODUCTIONChapter OrganizationWhat is International Economics About?The Gains from TradeThe Pattern of TradeProtectionismThe Balance of PaymentsExchange-Rate DeterminationInternational Policy CoordinationThe International Capital MarketInternational Economics: Trade and MoneyCHAPTER OVERVIEWThe intent of this chapter is to provide both an overview of the subject matter of international economics and to provide a guide to the organization of the text. It is relatively easy for an instructor to motivate the study of international trade and finance. The front pages of newspapers, the covers of magazines, and the lead reports of television news broadcasts herald the interdependence of the U.S. economy with the rest of the world. This interdependence may also be recognized by students through their purchases of imports of all sorts of goods, their personal observations of the effects of dislocations due to international competition, and their experience through travel abroad.The study of the theory of international economics generates an understanding of many key events that shape our domesticand international environment. In recent history, these events include the causes and consequences of the large current account deficits of the United States; the dramatic appreciation of the dollar during the first half of the 1980s followed by its rapid depreciation in the second half of the 1980s; the Latin American debt crisis of the 1980s and the Mexico crisis in late 1994; and the increased pressures for industry protection against foreign competition broadly voiced in the late 1980s and more vocally espoused in the first half of the 1990s. Most recently, the financial crisis that began in East Asia in 1997 andspread to many countries around the globe and the Economic and Monetary Union in Europe have highlighted the way in which various national economies are linked and how important it is for us to understand these connections. At the same time, protests at global economic meetings have highlighted opposition to globalization. The text material will enable students to understand the economic context in which such events occur.Chapter 1 of the text presents data demonstrating the growth in trade and increasing importance of international economics. This chapter also highlights and briefly discusses seven themes which arise throughout the book. These themes include: 1) the gains from trade;2) the pattern of trade; 3) protectionism; 4), the balance of payments; 5) exchange rate determination; 6) international policy coordination; and 7) the international capital market. Students will recognize that many of the central policy debates occurring today come under the rubric of one of these themes. Indeed, it is often a fruitful heuristic to use current events to illustrate the force of the key themes and arguments which are presentedthroughout the text.。

国际经济学双语习题1.docx

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

国际经济学第八版下册课后答案英文版-13(word文档良心出品)

Answers to Textbook Problems1. At an exchange rate of $1.50 per euro, the price of a bratwurst in terms of hot dogs is 1.875 (7.5/4)hot dogs per bratwurst. After a dollar appreciation to $1.25 per euro, the relative price of a bratwurst falls to 1.56 (6.25/4) hot dogs per bratwurst. Hot dogs have become more expensive relative tobratwurst.2. The Norwegian krone/Swiss franc cross rate must be 6 Norwegian krone per Swiss franc.58 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth Edition3. When the yen depreciates vs. the dollar, its costs go up. This depresses its profits. On the other hand,if it exports products to the U.S., it can increase the yen price (without changing the dollar price) so there may be some offsetting effects. But, by and large, a firm that has substantial imported input costs does not relish a depreciating home currency.4. The dollar rates of return are as follows:a. ($250,000 - $200,000)/$200,000 = 0.25.b. ($275 - $225)/$225 = 0.22.c. There are two parts to this return. One is the loss involved due to the appreciation of the dollar;the dollar appreciation is ($1.38 - $1.50)/$1.50 =-0.08. The other part of the return is theinterest paid by the London bank on the deposit, 10 percent. (The size of the deposit is immaterial to the calculation of the rate of return.) In terms of dollars, the realized return on the Londondeposit is thus 2 percent per year.5. Note here that the ordering of the returns of the three assets is the same whether we calculate real ornominal returns.a. The real return on the house would be 25% - 10% = 15%. This return could also be calculatedby first finding the portion of the $50,000 nominal increase in the house’s price due to inflation ($20,000), then finding the portion of the nominal increase due to real appreciation ($30,000),and finally finding the appropriate real rate of return ($30,000/$200,000 = 0.15).b. Again, subtracting the inflation rate from the nominal return, we get 20% - 10% = 10%.c. 2% - 10% =-8%.6. The current equilibrium exchange rate must equal its expected future level since, with equality ofnominal interest rates, there can be no expected increase or decrease in the dollar/pound exchange rate in equilibrium. If the expected exchange rate remains at $1.52 per pound and the pound interest rate rises to 10 percent, then interest parity is satisfied only if the current exchange rate changes such that there is an expected appreciation of the dollar equal to 5 percent. This will occur when theexchange rate rises to $1.60 per pound (a depreciation of the dollar against the pound).7. If market traders learn that the dollar interest rate will soon fall, they also revise upward theirexpectation of the dollar’s future depreciation in the foreign-exchange market. Given the current exchange rate and interest rates, there is thus a rise in the expected dollar return on euro deposits.The downward-sloping curve in the diagram below shifts to the right and there is an immediate dollar depreciation, as shown in the figure below where a shift in the interest-parity curve from II to I'I' leads to a depreciation of the dollar from E0 to E1.Figure 13.2Chapter 13 Exchange Rates and the Foreign-Exchange Market: An Asset Approach 59 8. The analysis will be parallel to that in the text. As shown in the accompanying diagrams, a movementdown the vertical axis in the new graph, however, is interpreted as a euro appreciation and dollar depreciation rather than the reverse. Also, the horizontal axis now measures the euro interest rate.Figure 13.3 demonstrates that, given the expected future exchange rate, a rise in the euro interest rate from R0 to R1 will lead to a euro appreciation from E0 to E1.Figure 13.4 shows that, given the euro interest rate of i, the expectation of a stronger euro in thefuture leads to a leftward shift of the downward-sloping curve from II to I'I' and a euro appreciation (dollar depreciation) from E to E'. A rise in the dollar interest rate causes the same curve to shiftrightward, so the euro depreciates against the dollar. This simply reverses the movement inFigure 13.4, with a shift from I'I' to II, and a depreciation of the euro from E' to E. All of theseresults are the same as in the text when using the diagram for the dollar rather than the euro.Figure 13.3 Figure 13.49. a. If the Federal Reserve pushed interest rates down, with an unchanged expected future exchangerate, t he dollar would depreciate (note that the article uses the term “downward pressure” to mean pressure for the dollar to depreciate). In terms of the analysis developed in this chapter, a moveby the Federal Reserve to lower interest rates would be reflected in a movement from R to R' inFigure 13.5, and a depreciation of the exchange rate from E to E*.If there is a “soft landing,” and the Federal Reserve does not lower interest rates, then this dollardepreciation will not occur. Even if the Federal Reserve does lower interest rates a little, say from R to R", this may be a smaller decrease then what people initially believed would occur. In thiscase, the expected future value of the exchange rate will be more appreciated than before,causing the interest-parity curve to shift in from II to I'I' (as shown in Figure 13.6). The shift inthe curve reflects the “optimism sparked by the expectation of a soft landing” and this change inexpectations means that, with a fall in interest rates from R to R", the exchange rate depreciatesfrom E to E", rather than from E to E*, which would occur in the absence of a change inexpectations.Figure 13.5 Figure 13.660 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth Editionb. The “disruptive” effects of a recession make dollar holdings more risky. Risky assets must offersome extra compensation such that people willingly hold them as opposed to other, less riskyassets. This extra compensation may be in the form of a bigger expected appreciation of thecurrency in which the asset is held. Given the expected future value of the exchange rate, a bigger expected appreciation is obtained by a more depreciated exchange rate today. Thus, a recessionthat is disruptive and makes dollar assets more risky will cause a depreciation of the dollar.10. The euro is less risky for you. When the rest of your wealth falls, the euro tends to appreciate, cushioningyour losses by giving you a relatively high payoff in terms of dollars. Losses on your euro assets, on the other hand, tend to occur when they are least painful, that is, when the rest of your wealth is unexpectedly high. Holding the euro therefore reduces the variability of your total wealth.11. The chapter states that most foreign-exchange transactions between banks (which accounts for thevast majority of foreign-exchange transactions) involve exchanges of foreign currencies for U.S. dollars, even when the ultimate transaction involves the sale of one nondollar currency for another nondollar currency. This central role of the dollar makes it a vehicle currency in international transactions. The reason the dollar serves as a vehicle currency is that it is the most liquid of currencies since it is easy to find people willing to trade foreign currencies for dollars. The greater liquidity of the dollar ascompared to, say, the Mexican peso, means that people are more willing to hold the dollar than the peso, and thus, dollar deposits can offer a lower interest rate, for any expected rate of depreciation against a third currency, than peso deposits for the same rate of depreciation against that third currency.As the world capital market becomes increasingly integrated, the liquidity advantages of holdingdollar deposits as opposed to euro deposits will probably diminish. The euro represents an economy as large as the United States, so it is possible that it will assume some of that vehicle role of the dollar, reducing the liquidity advantages to as far as zero. When it was first introduced in 1999, the euro had no history as a currency, though, so some investors may have been leery of holding it until itestablished a track record. As the euro has become more established, though, the liquidity advantage of the dollar should be fading (albeit slowly).12. Greater fluctuations in the dollar interest rate lead directly to greater fluctuations in the exchange rateusing the model described here. The movements in the interest rate can be investigated by shifting the vertical interest rate curve. As shown in Figure 13.7, these movements lead directly to movements in the exchange rate. For example, an increase in the interest rate from i to i' leads to a dollar appreciation from E to E'. A decrease in the interest rate from i to i" leads to a dollar depreciation from E to E".This diagram demonstrates the direct link between interest rate volatility and exchange rate volatility, given that the expected future exchange rate does not change.Figure 13.7Chapter 13 Exchange Rates and the Foreign-Exchange Market: An Asset Approach 61 13. A tax on interest earnings and capital gains leaves the interest parity condition the same, since all itscomponents are multiplied by one less the tax rate to obtain after-tax returns. If capital gains areuntaxed, the expected depreciation term in the interest parity condition must be divided by 1 less the tax rate. The component of the foreign return due to capital gains is now valued more highly than interest payments because it is untaxed.14. The forward premium can be calculated as described in the appendix. In this case, we find theforward premium on euro to be (1.26 - 1.20)/1.20 = 0.05. The interest rate difference betweenone-year dollar deposits and one-year euro deposits will be 5 percent because the interest difference must equal the forward premium on euro against dollars when covered interest parity holds.15. The value should have gone down as there is no more need to engage in intra EU foreign currencytrading. This represents the predicted transaction cost savings stemming from the euro. At thesame time, the importance of the euro as an international currency may have generated more trading in euros as more investors (from central banks to individual investors) choose to hold their funds in euros or denominate transactions in euros. On net, though, we would expect the value of foreign exchange trading in euros to be less than the sum of the previous currencies.16. If the dollar depreciated, all else equal, we would expect outsourcing to diminish. If, as the problemstates, much of the outsourcing is an attempt to move production to locations that are relativelycheaper, then the U.S. becomes relatively cheap when the dollar depreciates. While it may not be as cheap a destination as some other locations, at the margin, labor costs in the U.S. will have become relatively cheaper, making some firms choose to retain production at home. For example, we could say that the labor costs of producing a computer in Malaysia is 220$ and the extra transport cost is 50$, but the U.S. costs were 300$, then we would expect the firm to outsource. On the other hand, if the dollar depreciated 20% against the Malaysian ringitt, the labor costs in Malaysia would now be 264$ (that is, 20% higher in dollar terms, but unchanged in local currency). This, plus the transport costs makes production in Malaysia more expensive than in the U.S., making outsourcing a lessattractive option.。

国际经济学题库英文版

Part I . Fill in the blank with suitable content.I.Seven themes recur throughout the study of international economics. These gains from trade , the pattern of trade , protect ionism the bala nee of payme nts, excha nge rate determi natio n, intern ati onal policy coord in ati on, intern atio nal capital market.2. Coun tries en gage in intern ati onal trade for two basic reas on scomparative adva ntage and econo mics of scale3. A country has a comparative adva ntage in produci ng a good the opport unity costof producing that good in terms of other goods is lower in that country than it is in other countries.4. Labor is the only one factor of product ion. a LC 、a LW a nd a [C 、a [W are the unit labor requireme nt in cheese and wi ne at Home and Foreig n, respectively. If aLC/aLW<aLC*/aLW* , Home has a comparative advantage in cheese.p C / p W is the relative price of cheese, when aLC/aLWv Pc/Pw<aLC*/aLW* Home and Foreig n specialize in produci ng cheese and wi ne , respectively.* *5. Labor is the only one factor of product ion. a LC 、a LW a nd a LC 、a LW are the unit labor requireme nt in cheese and wine at Home and Foreign, respectively. and L* are Home ' s and Foreign ' s labor force. If* *a LC /a LW < p C / p W <a LC /a LW , the world relative supply of cheese equals L/aLC ) /(L*/aLW*). Home ' sgains from in directly produc ing wi ne can be show n as (1/aLC)(Pc/Pw) — 1/aLW6. In specific factors model(Q M =Q (K, L M )； Q F =Q F (T, L F )； L=L M +L F ), if Home produces and trades manu factured goods for food , the overall comparis on of the five cha nge rate of goods price and factorcapitalists in crease, it can be show n as r K P Mr K P M.7. There are two main reas ons why intern atio nal trade has stro ng effects on the distributio n of in come. First, resources car t move immediately or costlessly form one industry to another Secondln dustries differ in the factors of producti on they dema nd.8. In the Heckscher-Ohli n model,Comparative adva ntage is in flue need by the in teracti on betwee n relative abundan cea nd relative inten sity9. Accordi ng to stolper-sammels on effect if the relative price of a good rises, the real in come of the factor which in ten sively used in that good will rise, while the real in come of the other factor will fall.10. Accord ing to 罗布津斯基效应 Rybcz yn ski effect at un cha nged relative goods price, if the supply of a factor of producti on in creases, the output of the good that are in ten sive in that factor will rise, while the output of the other good will fall.11. Accord ing to H-O 模型 H-O propositi on , owners of a country ' s abundant factors gai n from trade, but owners of a country ' s scare factors lose.12. Accordi ng to 要素价格均等化命题 Factor price equalizati on propositi on , i nternatio nal tradeproduces a convergence(收敛) of relative goods prices. This convergenee, in turns, causes theconv erge nee of the relative factor prices. Trade leads to omplete equalization of factor prices. 完整的要素价格均等化)13. Three assumptions(假设) crucial to the prediction of factor price equalization are in reality untrue. These assumptions are (1)两个国家都生产两种产品 both countries produce both goods(2) 两国技术相同 tech no logies are the samg3) 存在贸易壁垒：天然壁垒和人为壁垒 There are barriers to trade: natural barriers and artificial barriers 一14. “ U.S. exports were less capitntensive than U.S. imports ” is 里o 昂惕夫s 悖论 Leontief paradox . 15. The Ricardia n Model , the Specific Factor model and the H-O model may be viewed as special cases (特殊情况) of 标准贸易模型 sta ndard trade models16. The standard trade model derives 派生推导) a world relative supply curve (曲线) from production possibilities and a world relative demand curve from preferences . 17. To export-biased growth, if the decli ne (下降) of the welfare caused by the deteriorati on (恶化) of.That is, the real in come ofpricethe terms of trade swap over（交换）the rise of the welfare caused by growth, the growth isimmiserizi ng growth（贫困化增长）.18. Some econo mists argued tha ixport-biased growth by poor n ati ons would worse n their term of trade so much that they would be worse off than if they had not grown at all. This situation is known as immiserizi ng growth （贫困化增长）.19」mmiserizing growth demands strict conditions, these conditions a cDno mic growth is stro ngly export-biased, the grow ing country is large eno ugh to affect the world price RS and RD must be very steep2O.According to 梅茨勒悖论Metzle paradox ” ,atriffs and export subsidies （补贴）might have perverse （有害的）effects on internal price.21.ln the model of “ Monopo垄断c Competition and Trade ” , firms ind i vidual nation face thetrade-off betwee n econo mies of scalea ndvariety of products .22. Marshall argued that there were three ma in reas ons why a cluster of firms （企业集群）may be more efficie nt tha n an in dividual firm in isolati on: specialized supplies labor market pooli ng , kno wledge spillovers （知识溢出）23. The pattern of intraindustry（产业内）trade itself is unpredicted,history and accident determine the details of the trade patter n.39. When there is external economies（夕卜部经济）,the pattern of international trade is determined by econo mics of scale in teract with comparative adva ntage24. The indexes （指标）of intrainindustry trade of a industry can be calculated by the standard formula:exports imports25. Interindustry trade and intrainindustry （产业内）trade are the sources of gains from trade .When countries are similar in their relative factor supplies、scale economies and product differentiations are important, intrainindustry trade is the dominant source （主要来源）of gains from trade, everyone gains from trade.26. The argume nt of temporary （暂时的）protecti on of in dustries to en able them to ga in experie nee is known as —幼稚产业论the infant industry argument27. If we add together the gains and losses from a tariff, We find the net effect on national welfare can be separated into two parts: terms of trade gain and efficiency loss28. Why do countries adopt trade policies such as tariff or import quota, which produce more costs than benefits? ---- t rade politics29.ln the political economy of trade policy （贸易政策的政治经济学），government are assumed （被假定为）maximize 政治成功political success rather than 国家福利national welfare .3O.Deviati ons from free trade can sometimes in crease n ati onal welfare. These argume nts in cludihe term of trade argument for a tariff and the domestic market failure argument31 .According to Specific rule（对症规则）” ,domestic market failure should be corrected by domestic policies aimed directly at the problem ' s sources.32. Although market failures are probably common, the domestic market failure argument against free trade should not be applied too freely.Firs domestic market failure should be corrected by domestic policies aimed directly at the problemssources ;Second eco no mists cannot diag nose market failure well eno ugh to prescribe policy.33. International trade often produces losers as well as winners. In the actual politics of trade policy,in come distributio n is of crucial importa nee. 集体行动问题The problem of collective action can expla in why policies that not on ly seem to produce more costs tha n ben efits but that also seem to hurt far more voters them they can help can non etheless be adopted.34. The WTO i ncludes four aspects conten tGATT 1994,GATS TRIPS , TRIMS35. “ Nondiscriminatory ” principle歧视性原贝U）include most favored nation principle andnational treatment principle36. For preferential （优惠）trading agreements, such as customs union , countries must cede part of theirsovereignty to supranational entity (必须放弃部分主权的超国家实体)37. Whether a customs union 关税同盟)is desirabl (可取)or undesirable depends on whether it largely leads to trade creati on or trade diversi on .38. Trade policy in developing countries is concerned with two objectives (涉及两个目标)：promoting industrialization and Coping with the problem of the dual economy39. Trade policy in develop ing coun tries is concerned with two objectives: promot ingindustrialization and coping with the problems of the dual economy. Correspondingly, there are two main argume nts for develop ing coun tries to pursue policy of import-substitut ing in dustrializati on. The two argume nts are the infant in dustry argume nt t and market failure justificati on for infant in dustry protectio n.40. Sophisticated proponents of the infant industry argument have identified two market failures as reasons why infant industry protection may be a good ide The imperfect capital markets justificati on and The appropriability argume nt .Part n . True or False (true and false are denoted by “ T ” and “ F ” , respectively) 1. If a LW */a LC *<a LW /a LC , Home ' s reive productivity in cheese is higher. (T )2. According to the Ricardian model, it is precisely because the relative wage is between the relative productivities that each country ends up with a cost advantage in one good.The good for which**a Li /aLi> w / w will be produced in Foreign. ( F )3. It is precisely because the relative wage is betwee n the relative productivities that each country ends up with a cost adva ntage in one good. ( T )4. L ong-run con verge nee 长期收敛)in productivity (生产力) produces long-run conv erge nce in wages.“ (T )5. “ Korean workers earn only $2.50 an hour; if we allow Korea to export as much as it likes to the United States, our workers will be forced down tthe same level. You can ' t import a $5 shirt without importing the $2.50 wage that goes with it. (F ) ”6. The proposition that trade is beneficial is unqualifie 不合格).That is, there is no requirement that a country be “ competitive ” or that the trade be ( T) “fair ” .7. Free trade is ben eficial only if your country is strong eno ugh to sta nd up to foreig n competiti on. ( F ) 8. Foreign competition is unfair and hurts other countries when it is based on low wages. ( F )9. Trade exploits a country and make it worse off if its workers receive much lower wage than workers in other nations. (F )10. The Ricardian Model predicts an extreme degree 预测一个极端的程度)of specialization 专业化). (T )11. The Ricardian Model neglects 忽略)the effects on income distribution.仃)12. The basic predict ion of the Ricardia n model has bee n stron gly con firmed by a nu mber of studies over years. ( T )13. The Ricardian Model predicts that countries tend to export those goods in which their productivity is relative high. ( T )14. We can think of factor specificity as a matter of time. ( T )15. The opportunity cost of manufacture in terms of food is denoted b 表示) MPL M /MPL F . ( F )16. A equal proportional change in price have no real effects on the real wage, real income of capital owner and land owner. ( T )17. Trade ben efits the factor that is specific to the import-competi ng sectors of each country but hurts the factor to the export sectors, with ambiguous effects on mobile factors. ( F ) 18.It is possible in principle for a country' s government to use (补X 贴s )ancredibs (biute(重新分配) in come to give each in dividual more of both goods. ( T )19. Although intern ati onal trade has stro ng effects on in come distributi on, there are still possible in prin ciple to make each in dividual better off. ( T )20. Typically, those who gain from trade in any particular product are a much more concen trated, in formed, and orga ni zed group tha n those who lose. ( F )21. Conflicts of interest(利益冲突)within nations are usually more important in determining trade policythan con flicts of in terest betwee n n ati ons. ( T )22. Gen erally, econo mists do not regard the in come distributio n effects of trade as a good reas on to limit trade. ( T )23. The formulation of trade policy贸易政策的制定)is a kind of political process政治进程).(T )24. “ The world ' s poorest countries can ' t find anything to export. There is no resource that i abundan—certainly not capital or land, and in small poor nations not even labor is abundant( F )25. Wage inequality in U.S. increased between the late 1970s and the early 佃90s, economistsattribute the change to the growing exports of manufactured goods frcMIEs. ( T )26. If the factor-proportion theory was right, a country would always export factors for which the income share exceeded the factor share, import factors for which it was less. ( F )27. The H-O model can predict n ot only the direct ion but the volume of trade贸易量). (T )28. Factor trade in general turns out to be much smaller than the H-O model predicts. ( T )29. Accord ing to an in flue ntial rece nt paper, the H-O model can predict not only the directi on but the volume of trade. Factor trade in general turn out to b*he same a the H-O model predicts. ( F )30. Only by dropp ing the Heckscher-Ohlin assumpti on that tech no logies are the same across the coun tries can the overall pattern of international trade be well predicted by the H-O model. ( T )31」f a country want to maximize its national welfare, the consumption point is where the highest isovalue line is tangent to the highest reachable indifference curve. ( T )32. A rise in the terms of trade in creases a country ' s welfare, while a decli ne in the terms of tra its welfare. ( T )33. Export-biased growth tends to improve the growing country ' s terms of trade at the rest of th world ' s expense. ( F )34.If the two coun tries allocate(分酉己)their cha nge in spe nding in the same proporti ons, there will not be a terms of trade effect. ( T )35. If the country recei ving a tran sfer spe nds a higher proportio n of an in crease in come on its export good tha n the giver, a tran sfer raises world relative dema nd for the recipie nt ' s export good a terms of trade. ( T )36. A tran sfer worse ns the donor ' s terms of trade if the donor has a higher marigi nal prope nsity to sperits export good tha n the recipie nt 受体). (T )37. A tran sfer improves the donor ' s terms of trade, worse ns recipie nt de. ('F s terms of tra38. A transfer of income——say foreign aid -- could conceivably leave the recipient worse offT )39. A tariff improves Home ' s terms of trade and worse ns Foreig n ' s, while a Home export subs Home s terms of trade and improve Foreign ( T') s.40. Where there is economies of scale, there is imperfectly competitive market structure. ( F )41.If in trai ndustry trade is the dominant source of gains from trade, every one gains from trade. ( T )42. Effect on the distribution of income within countries often weight more heavily on policy than terms of trade concerns. ( T )43. The usual market structure in in dustries characterized by in ternal econo mies of scale is mon opolistic competiti on. ( F )44. Today, an tidump ing 反倾销)may be a device of protectio nism. ( T )45. Reciprocal相互)dumping tends to increase the volume of trade in goods that are quite identical(一致).(F )46.It is possible that reciprocal dump ing in crease n ati onal welfare. ( T )47.Stro ng exter nal 外咅E) econo mies tend to “ locked in ” the existi ng patter ns of in teri ndustry trade, eve n ithe patter ns are run coun ter to背道而驰)comparative adva ntage. ( T )48. A trading country can conceivably lose from trade is potentially justify protectionism. ( T )49. Like static exter nal econo mies, dyn amic exter nal econo mies can lock in an in itial adva ntage in an in dustry. ( T )50. The stratigic trade policy is related to the model of comMbenopnljsiiicerentiateproducts and intraindustry trade ” F )51. The model “ Oligopoly, homoge neous products and intrain dustry trade ” is first developed band Helpma n . ( F )52. Trade in factors is very much like trade in goods, it occurs for much the same reasons and produces similar results. ( T )53. Trade in factors is an alter native替代)to trade in goods for the allocati on of resources. ( T )54. When a country borrows, it ' s interPePFpiorlaiased towardQ p ( F )55. The relative price of future con sumpti on goodsQ p is (1 + r). ( T )56. The dyn amic path ofTNC s' en ter foreig n marketFDI f Export f Lice nee. (F )57. Tariffs may have very differe nt effects on differe nt stages of producti on of a good. ( T )58. Nominal(名义)tariff reflects the effective rate of protection(有效保护率). (F)59. The costs and ben efits an alysis of a tariff is correct if only the direct gains to producers and con sumers ina give n market accurately measure the social gains. ( T )60. The costs and ben efits an alysis of a tariff is correcf only a dollar ' s worth of ben efits to each group is the same. ( T )61. A VER is exactly like an import quota which the license are assigned to foreign government. ( T )62. VER S are much more costly than tariffs. ( T )63. Local content laws have bee n widely used by develop ing coun tries trying to shift their manu facturi ng from assembly back into in termediate goods. ( T )64. A political argument for free trade reflects the fact that a political commitment to free trade may be a good idea in practice even though there may be better policies in principle. ( T )65. Deviati ons from free trade can sometimes in crease n ati onal welfare. (T )66. For a sufficiently small tariff the terms of trade gain of small country must outweigh the efficiency loss.(F )67. The domestic market failure argument against free trade is intellectually impeccable but of doubtfulusef uln ess. (F )68. “ U.S. farm exports don ' t justhmieiaic(bmies for farmers—they mea n higher in come forevery one who sell goods and services to the U.S. farm sector ” . This remark iEgarpetetntial validfor export subsidy. ( T )69. Most deviati ons from free trade are adopted not because their ben efit exceed their costs but because the public fails to un dersta nd their true costs. ( T )70」f there is marginal social costs rather than marginal social benefits, domestic market failure reinforce the case for free trade. ( T )71. The electoral competition model believes political competition will drive both parties to propose tariffs close to t M, the tariff preferred by the medium voter. ( T )72. The problem of collective acti on can best be overcome whe n a group is large an d/or well orga ni zed.(F )73. Trade policy that produce more costs tha n ben efits, hurt more con sumers tha n producen an' t be adopted. ( F )74. As a violation of the MFN( “most favored nation ”)principle, the WTO forttradipreferent agreements in general, but allows them if they lead to free trade between the agreeing countries. ( T )75. The infant in dustry argume ntviolates 违背)the prin ciple of comparative adva ntage ( T )76.Import substituting industrialization(进口替代工业化)violates the principle of comparative advantage.“(T )77. “Import quotas on cap-italle nsive in dustrial goods and subsidies for the import of capital equipme nt were meant to create manu facturi ng jobs in many develop ing coun tries. Unfortun ately, they have probably helped create the urba n un employme nt problem. ( T”78. The East Asia n Miracle proved that in dustrializati on and developme nt must be based on import substitutio n. ( F )79.It is impossible for country to make itself worse off by joi ning accustoms union联盟). (F )Part 川.Choose the ONLY one collect answer in each question.1. An importa nt in sight (启示) of intern ati onal trade theory is that whe n coun tries excha nge goods and services one with the other itA. is always ben eficial to both coun tries.B. is usually ben eficial to both coun tries.C. is typically ben eficial on ly to the low wage trade part ner country .D. is typically harmful to the tech no logically lagg ing coun try.E. tends to create un employme nt in both coun tries.2. If there are large disparities （差距）in wage levels betwee n coun tries, the nA. trade is likely to be harmful to both coun tries.B. trade is likely to be harmful to the country with the high wages.C. trade is likely to be harmful to the country with the low wages.D. trade is likely to be harmful to n either coun try.E. trade is likely to have no effect on either coun try.3. Cost-benefit analysis of international trade （成本收益分析）A. is basically useless.B. is empirically in tractable.C. focuses atte nti on on con flicts of in terest with in coun tries.D. focuses atte nti on on con flicts of in terests betwee n coun tries.E. None of the above.4. A primary reas on why n ati ons con duct intern atio nal trade is because of differe nces inA. historical perspective.B. locatio n.C. resource availabilities.D. tastes.E. in comes.5. Argume nts for free trade are sometimes disregarded （忽视）by the political process becauseA. econo mists tend to favor highly protected domestic markets.B. econo mists have a uni versally accepted decisive power over the political decisi on mecha ni sm.C. maximizi ng con sumer welfare may not be a chief priority （优先）for politicians. 扩大消费者福利不是最主要的D. the gains of trade are of param ount concern to typical con sumers.E. None of the above.6. Prop onen ts（支持）of free trade claim all of the followi ng as advantagesexcep __A. relatively high wage levels for all domestic workers.B. a wider select ion of products for con sumersC. in creased competitio n for world producers.D. the utilization of the most efficient production processes.E. None of the above.In order to know whether a country has a comparative adva ntage in the producti on of one particular product we need information on at least ___ un it labor requireme ntsA. oneB. twoC. threeD fourE five7. A country en gag ing in trade accord ing to the prin ciples of comparative adva ntage gains from trade because itD. is produci ng exports in directly more efficie ntly tha n it could alter natively.E. is produci ng imports in directly more efficiently than it could domestically.F. is produci ng exports using fewer labor un its.G. is produci ng imports in directly using fewer labor un its.H. None of the above.8. A n ati on en gagi ng in trade accordi ng to the Ricardian model will find its consumption bundle （消费约束）A. in side its product ion possibilities fron tier.B. on its producti on possibilities fron tier.C. outside its product ion possibilities fron tier （生产可能性边界）.D. in side its trade-part ner's product ion possibilities fron tier.E. on its trade-part ner's producti on possibilities fron tier.9. If a very small country trades with a very large country accord ing to the Ricardia n model, the n A. the small country will suffer a decrease in econo mic welfare.B. the large country will suffer a decrease in econo mic welfare.C. the small country will enjoy gains from trade.D. the large country will enjoy gains from trade.E. None of the above.10. If the world terms of trade for a country are somewhere betwee n the domestic cost ratio of H and that of F, the nA. country H but not country F will gai n from trade.B. country H and country F will both gain from trade.C. n either country H nor F will gain from trade.D. only the country whose gover nment subsidizes its exports will gain.E. None of the above.11. If a product ion possibilities fron tier is bowed out （concave to the origin））上凸，凹面向原点）， then producti on occurs un der con diti ons ofA. con sta nt opport unity costs.B. in creas ing opport un ity costs.C. decreas ing opport un ity costs.D. infin ite opport un ity costs.E. None of the above.12. If two coun tries have ide ntical producti on possibility frontiers, then trade between them is not likely ifA. their supply curves are ide ntical.B. their cost functions are ide ntical.C. their dema nd con diti ons ide ntical.D. their in comes are ide ntical.E. None of the above.13. Assume that labor is the only factor of product ion and that wages in the Un ited States equal $20 per hour while wages in Japa n are $10 per hour. Product ion costs would be lower in the United States as compared to Japan ifA. U.S. labor productivity equaled 40 un its per hour and Japan's 15 units per hour.B. U.S. productivity equaled 30 un its per hour whereas Japa n's was 20.C. U.S. labor productivity equaled 20 and Japa n's 30.D. U.S. labor productivity equaled 15 and Japan's 25 units per hour.E. None of the above.14. Intern atio nal trade has stro ng effects onin come distributio ns. Therefore, intern ati onal tradeA. is ben eficial to every one in both trad ing coun tries.B. will tend to hurt one trad ing coun try.C. will tend to hurt some groups in each trading coun try.D. will tend to hurt every one in both coun tries.E. will be ben eficial to all those en gaged in intern atio nal trade.15. If the price of the capital inten sive product rises, wages willA. rise but by less tha n the price of the capital-intensive product （工资冈寸性，变动较慢）B. rise by more tha n the rise in the price of the capital-inten sive product.C. remai n proporti on ally equal to the price of the capital-inten sive product.D. fall, since higher prices cause less dema nd.E. None of the above.16. If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to ope n up betwee n these two coun tries, A. the real in come of capital owners in Australia would rise.B. the real in come of labor in Australia would clearly rise.C. the real in come of labor in Belgium would clearly rise.D. the real in come of Ian dow ners in Belgium would fall.贸易知识使一国丰富要素部门得利，稀缺要素部门受损）E. the real in comes of capital owners in both coun tries would rise.17. If the price of manufactures and the price of food in crease by 25%, the nA. the economy moves dow n its aggregate supply curve.B. the economy moves back along its aggregate dema nd curve.C. the relative quantities （相对数量）of manu factures and food rema in un cha nged.D. the relative qua ntities of products cha nge by 25%.E. None of the above.18. If the price of manufactures rises, thenA. the price of food also rises.B. the qua ntity of food produced falls.C. the qua ntity of both manu factures and food falls.D. the purchas ing power of labor in terms of food falls.E. None of the above.18. Groups that lose from trade tend to lobby游说）the government to （贸易失利者游说政府）A. shift the direct ion of comparative adva ntage.B. abolish the Specific Factor model from practical applicati on.C. provide public support for the relatively efficie nt sectors.D. provide protecti on for the relatively in efficie nt sectors.E. None of the above.19. The specific factor model argues that if land can be used both for food product ion and for manu facturi ng, the n a quota that protects food producti on willA. clearly help Ian dow ners.B. clearly hurt Ian dow ners.C. clearly help manu facture but hurt food producti on.D. have an ambiguous effect on the welfare of Ian dow ners.E. None of the above.20. If, relative to its trade part ners, Gambi nia has many workers but very little land and even less productive capital, then, following the specific factor model, we know that Gambinia has a comparative adva ntage inA. manu factures.B. food.C. both manu factures andfood.D. n either manu factures nor food.E. None of the above.21. In the 2-factor, 2 good Heckscher-Ohl in model, an influx of workers from across the border would （劳动者越过国境流入）A. move the point of producti on along the product ion possibility curve.B. shift the product ion possibility curve outward, and in crease the producti on of both goods.C. shift the product ion possibility curve outward and decrease the product ion of the labor- inten sive product.D. shift the product ion possibility curve outward and decrease the product ion of the capital-intensive product.（资本密集型产品产量下降，扩展了生产可能性曲线，相当于扩展了消费的总量）E. None of the above.22. The 1987 study by Bowen, Leamer and SveikauskasA. supported the validity of the Leon tieff Paradox.B. supported the validity of the Heckscher-Ohlin model.C. used a two-co untry and two-product framework.D. dem on strated that in fact coun tries tend to use differe nt tech no logies.E. proved that the U.S.'s comparative advantage relied on skilled labor. 23. The Case of the Missing Trade refers toA. the 9 volume of the Hardy Boys' Mystery series.B. the fact that world exports does not equal world imports.C. the fact that factor trade is less tha n predicted by the Heckscher-Ohlin theory.D. the fact that the Heckscher Ohlin theory predicts much less volume of trade tha n actually exists.E. None of the above.24. One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative adva ntage is by assu ming that 技术相同__ is （are）identical in all countries.A. factor of product ion en dowme ntsB. scale econo miesC. factor of product ion inten sitiesD. tech no logyE. opport unity costs25. As opposed to the Ricardian model of comparative adva ntage, the assumpti on of diminishing returns in the Heckscher-Ohlin model means that the probability is greater that with trade A. countries will not be fully specialized （专业化）in one product.B. coun tries will ben efit from freeintern ati onal trade.C. coun tries will con sume outside their production possibility frontier.D. comparative adva ntage is primarily supply related.E. None of the above.26. Suppose that there are two factors, capital and land, and that the United States is relatively land en dowed while the Europea n Un io n is relatively capital-endowed. According to the Heckscher-Ohlin model,A. Europea n Ian dow ners should support US-Europea n free trade.B. Europea n capitalists should support US-Europea n free trade.C. all capitalists in both coun tries should support free trade.D. all la ndow ners should support free trade.E. None of the above.27. According to the Heckscher-Ohlin model, if the United States is richly endowed inhuma n-capital relative to Mexico, the n as NAFTA in creas in gly leads to more bilateral free trade betwee n the two coun tries,A. the Un ited States will find its in dustrial base sucked into Mexico.。

国际经济学试卷试题包括答案.docx

《国际经济学》选择题汇总版（附答案）Ch1-Ch31.The United States is less dependent on trade than most other countries becauseA)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 onA)the real side of the international economy.B)the international trade side of the international economy.C)the international investment side of the international economy.D)the issues of international cooperation between Central Banks.E)the monetary side of the international economy, such as currency exchange.5.The gravity model offers a logical explanation for the fact thatA)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 EuropeanUni on.E) the U.S. trades more with Western Europe than it does with Canada.6.The gravity model explains whyA)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 tradebetween neighboringcountries.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 governm ent promotion of trade and investment.C)Large economies have relatively larger areas which raises the probability that a pro ductive activity will take place within the borders of that country.D)Large economies tend to have large incomes and tend to spend more on impor ts.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 smallcountri es.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 Chinaare 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 itA) 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 o f comparative advantage result toA) 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 itsconsump tion bundleA)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 Sta tes 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 ifA)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“ Germanyenjoys acomparativ e advantage over France in autos relative toships ”is equivalent toA) France having a comparative advantage over Germany in ships.B) France having a comparative disadvantage compared to Germany in autos and ship s.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 thatA)the United States has no comparative advantageB)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-Ch51.The Ricardian model of international trade demonstrates that trade can bemutually 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 bemutually 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 standar ds of qualityE) Restrictions on imports are intended to benefit domestic consumers.2.Japan's trade policies with regard to rice reflect the fact thatA) japanese rice farmers have significant political power.B) Japan has a comparative advantage in rice production and therefore exports most o f its rice crop.C) there would be no gains from trade available to Japan if it engaged in free trade in r ice.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)LaborB)LandC)ClothD)FoodE)Technology4.The specific factors model assumes that there are ________ goods and ________ fa ctor(s) of production.A) two; threeB) two; two C)two; one D)three; two E)four; three5.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 equa l to ________ and it ________ as more cloth is produced.A)-MPLF/MPLC; becomes steeperB)-MPLF/MPLC; becomes flatterC)-MPLF/MPLC; is constantD)-MPLC/MPLF; becomes steeperE)-MPLC/MPLF; is constant6.Under perfect competition, the equilibrium price of labor used to produce clothwill be equal toA)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 clot h.7.In the specific factors model, which of the following will increase the quantity ofla bor used in cloth production?A)an increase in the price of cloth relative to that of foodB) an increase in the price of food relative to that ofcloth C) a decrease in the price of laborD) an equal percentage decrease in the price of food and clothE) an equal percentage increase in the price of food and cloth8.A country that does not engage in trade can benefit from trade only ifA)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 mobil e factors, ________ for fixed factors used to produce the exported good, and ________ for fixed factors used to produce the imported good.A)ambiguous; positive; negativeB) ambiguous; negative; positive C)positive; ambiguous; ambiguous D)negative; ambiguous; ambiguous E)positive; positive; positive10.The effect of trade on specialized employees of import-competing industries willb e ________ jobs and ________ pay because they are relatively ________.A)fewer; lower; mobileB)fewer; lower; immobileC)more; lower; immobileD)more; higher; mobileE)more; higher; immobile11. There is a bias in the political process against free trade becauseA)there is a high correlation between the volume of imports and the unemployment ra te.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 differin 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 (measure d on the horizontal axis), then the absolute value of the slope of its production possibil ity frontier is equal toA)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 goodY. D) the opportunity cost of good Y.E)the cost of capital (assuming that good Y is capital intensive) divided by the costof labor.14.In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners ofa country's ________ factor and will ________ the good that uses that factor intensiv ely.A)benefit; abundant; exportB)harm; abundant; importC)benefit; scarce; exportD)benefit; scarce; importE)harm; scarce; export15.The assumption of diminishing returns in the Heckscher-Ohlin model means that, unlike in the Ricardian model, it is likely thatA) 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 coun tries will result inA)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 Coun try H is relatively labor abundant, then once trade beginsA) 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 ParadoxA)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 a cross 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 industr ies.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?A)An increase in a country's labor supply will increase production of the labor-i ntensive 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 a cross 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-Ch101.If the ratio of price of cloth (PC) divided by the price of food (PF) increases in thei nternational marketplace, thenA)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 thei nternational marketplace, thenA)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 toA)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 sub sidies for its exports, this mustA)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 unitA)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 industryB)reduce; increased; a firmC)increase; increased; a firmD)increase; increased; the industryE)reduce; reduce; the industry7.If some industries exhibit internal increasing returns to scale in each country, we sh ould not expect to seeA) 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 returnsB)output per time period; long-run marginal cost; dynamic increasing returnsC)unit cost; cumulative production; dynamic increasing returnsD)output per time period; long-run marginal cost; dynamic decreasing returnsE)labor productivity; education; increasing marginal returns9.Patterns of interregional trade are primarily determined by ________ rather than __ ______ because factors of production are generally ________.A)external economies; natural resources; mobileB)internal economies; external economies; mobileC)external economies; population; immobileD)internal economies; population; immobileE)population; external economies; immobile10.Monopolistic competition is associatedwith 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 earnA)positive monopoly profits because each sells a differentiated product.B)zero economic profits because of free entryC)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 tradeis 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 forei gn firm. In the second, a U.S. firm builds a new production facility in a foreign countr y. Both are ________, with the first referred to as ________ and the second as ______ __.A)foreign direct investment (FDI) outflows; brownfield; greenfieldB)foreign direct investment (FDI) inflows; greenfield; brownfieldC)foreign direct investment (FDI) outflows; greenfield; brownfieldD)foreign direct investment (FDI) inflows; brownfield; greenfieldE)foreign direct investment (FDI); inflows; outflows14. Specific tariffs areA)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 isthat A) domestic consumers will purchase the foreign good regardless of thetariff. 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 fr om domestically produced semiconductors to imported components, then the effective rate of protection in the computer industry willA) increase.B) decreaseC) 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 rat e.19.Should the home country be "large" relative to its trade partners, its imposition ofa tariff on imports would lead to an increase in domestic welfare if the terms of thetra de rectangle exceed the sum of theA) 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 ar e dismantledand removed,A) government tariff revenue will decrease, and therefore national economic welfare will decreaseB) government tariff revenue will decrease, and therefore national econo mic welfare will increase.C) deadweight losses for producers and consumers will decrease, henceincreasin g national economic welfare.D)deadweight losses for producers and consumers will decrease, hence decreasing na tional economic welfare.E)government tariff revenue will increase, hence increasing national economic welfar e.21.Which organization determines procedures for the settlement of international trade disputes?A)World BankB)World Trade OrganizationC)International Monetary OrganizationD)International Bank for Reconstruction and DevelopmentE)The League of Nations22.Today U.S. protectionism is concentratedin 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 industryis best explained by the fact thatA)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.欢迎下载1124.The optimum tariff is most likely to applyto 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) alarge tariff imposed by a large country. E) anad valorem tariff on a small country.25.The median voter modelA)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.欢迎下载12。

《国际经济学(英文版)》选择题汇总版(附答案)精选全文

精选全文完整版（可编辑修改）《国际经济学》选择题汇总版（附答案）Ch1-Ch31.The United States is less dependent on trade than most other countries becauseA) 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-fieldsA) 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 onA) the real side of the international economy.B) the international trade side of the international economy.C) the international investment side of the international economy.D) the issues of international cooperation between Central Banks.E) the monetary side of the international economy, such as currency exchange.5. The gravity model offers a logical explanation for the fact thatA)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 whyA)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 areA) 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 itA) 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 toA) 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 bundleA) 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 ifA) 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 toA) 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 thatA) the United States has no comparative advantageB) 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-Ch51.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 thatA) 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)LaborB) LandC) ClothD) FoodE) Technology4. The specific factors model assumes that there are ________ goods and ________ factor(s) of production.A) two; threeB) two; twoC) two; oneD) three; twoE) four; three5. 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 steeperB) -MPLF/MPLC; becomes flatterC) -MPLF/MPLC; is constantD) -MPLC/MPLF; becomes steeperE) -MPLC/MPLF; is constant6. Under perfect competition, the equilibrium price of labor used to produce cloth will be equal toA)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 foodB) an increase in the price of food relative to that of clothC) a decrease in the price of laborD) an equal percentage decrease in the price of food and clothE) an equal percentage increase in the price of food and cloth8. A country that does not engage in trade can benefit from trade only ifA)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; negativeB) ambiguous; negative; positiveC) positive; ambiguous; ambiguousD) negative; ambiguous; ambiguousE) positive; positive; positive10.The effect of trade on specialized employees of import-competing industries will be ________ jobs and ________ pay because they are relatively ________.A)fewer; lower; mobileB) fewer; lower; immobileC) more; lower; immobileD) more; higher; mobileE) more; higher; immobile11. There is a bias in the political process against free trade becauseA)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 inA)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 toA)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; exportB)harm; abundant; importC) benefit; scarce; exportD) benefit; scarce; importE) harm; scarce; export15. The assumption of diminishing returns in the Heckscher-Ohlin model means that, unlike in the Ricardian model, it is likely thatA) 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 inA)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 beginsA) 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 ParadoxA) 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?A) An increase in a country's labor supply will increase production of the 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-Ch101.If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, thenA) 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, thenA) 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 toA) 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 mustA) 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 unitA) 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 industryB) reduce; increased; a firmC) increase; increased; a firmD) increase; increased; the industryE) reduce; reduce; the industry7. If some industries exhibit internal increasing returns to scale in each country, we should not expect to seeA) 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 returnsB) output per time period; long-run marginal cost; dynamic increasing returnsC) unit cost; cumulative production; dynamic increasing returnsD) output per time period; long-run marginal cost; dynamic decreasing returnsE) labor productivity; education; increasing marginal returns9.Patterns of interregional trade are primarily determined by ________ rather than ________ because factors of production are generally ________.A) external economies; natural resources; mobileB) internal economies; external economies; mobileC) external economies; population; immobileD) internal economies; population; immobileE) population; external economies; immobile10. Monopolistic competition is associated withA) 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 earnA) positive monopoly profits because each sells a differentiated product.B) zero economic profits because of free entryC) 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 isA) 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; greenfieldB) foreign direct investment (FDI) inflows; greenfield; brownfieldC) foreign direct investment (FDI) outflows; greenfield; brownfieldD) foreign direct investment (FDI) inflows; brownfield; greenfieldE) foreign direct investment (FDI); inflows; outflows14. Specific tariffs areA) 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 thatA) 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 willA) 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 willA) increase.B) decreaseC) 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 theA) 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 BankB) World Trade OrganizationC) International Monetary OrganizationD) International Bank for Reconstruction and DevelopmentE) The League of Nations22. Today U.S. protectionism is concentrated inA) 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 thatA) 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 toA) 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 modelA) 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.By：某某。

(完整word版)英文版国际金融试题和答案

PartⅠ.Decide whether each of the following statements is true or false (10%)每题1分, 答错不扣分1.I.perfec.market.existed.resource.woul.b.mor.mobil.an.coul.therefor.b.transferre.t.thos.countrie.mor.willin.t.pa..hig.pric.fo.them.. .. .2.Th.forwar.contrac.ca.hedg.futur.receivable.o.payable.i.foreig.currencie.t.insulat.th.fir.agains.exchang.rat.risk ... . )3.Th.primar.objectiv.o.th.multinationa.corporatio.i.stil.th.sam.primar.objectiv.o.an.firm.i.e..t.maximiz.sharehol de.wealth.. .. )4..lo.inflatio.rat.tend.t.increas.import.an.decreas.exports.thereb.decreasin.th.curren.accoun.deficit.othe.thing.e qual......5..capita.accoun.defici.reflect..ne.sal.o.th.hom.currenc.i.exchang.fo.othe.currencies.Thi.place.upwar.pressur.o.tha.hom.currency’.value.. .. )parativ.advantag.implie.tha.countrie.shoul.specializ.i.production.thereb.relyin.o.othe.countrie .fo.som.products.. .. .7.Covere.interes.arbitrag.i.plausibl.whe.th.forwar.premiu.reflec.th.interes.rat.differentia.betwee.tw.countrie.sp ecifie.b.th.interes.rat.parit.formula. .. . )8.Th.tota.impac.o.transactio.exposur.i.o.th.overal.valu.o.th.firm.. .. .9. .pu.optio.i.a.optio.t.sell-b.th.buye.o.th.option-.state.numbe.o.unit.o.th.underlyin.instrumen.a..specifie.pric.pe.uni.durin..specifie.period... . )10.Future.mus.b.marked-to-market.Option.ar.not.....)PartⅡ:Cloze (20%)每题2分, 答错不扣分1.I.inflatio.i..foreig.countr.differ.fro.inflatio.i.th.hom.country.th.exchang.rat.wil.adjus.t.maintai.equal.. purchasin.powe... ）2.Speculator.wh.expec..currenc.t..appreciat..... .coul.purchas.currenc.future.contract.fo.tha.currency.3.Covere.interes.arbitrag.involve.th.short-ter.investmen.i..foreig.currenc.tha.i.covere.b.....forwar.contrac...... .t. sel.tha.currenc.whe.th.investmen.matures.4.. Appreciation.Revalu....）petitio.i.increased.5.....PP... .suggest..relationshi.betwee.th.inflatio.differentia.o.tw.countrie.an.th.percentag.chang.i.th.spo.exchang.ra t.ove.time.6.IF.i.base.o.nomina.interes.rat....differential....).whic.ar.influence.b.expecte.inflation.7.Transactio.exposur.i..subse.o.economi.exposure.Economi.exposur.include.an.for.b.whic.th.firm’... valu... .wil.b.affected.modit.a..state.pric.i..... pu..optio..i.exercised9.Ther.ar.thre.type.o.long-ter.internationa.bonds.The.ar.Globa.bond. .. eurobond.....an....foreig.bond...).10.An.goo.secondar.marke.fo.financ.instrument.mus.hav.a.efficien.clearin.system.Mos.Eurobond.ar.cleare.thr oug.eithe...Euroclea... ..o.Cedel.PartⅢ:Questions and Calculations (60%)过程正确结果计算错误扣2分rmation:A BankB BankBid price of Canadian dollar $0.802 $0.796Ask price of Canadian dollar $0.808 $0.800rmation.i.locationa.arbitrag.possible?put.t h.profi.fro.thi.arbitrag.i.yo.ha.$1,000,e.(5%)ANSWER:Yes! One could purchase New Zealand dollars at Y Bank for $.80 and sell them to X Bank for $.802. With $1 million available, 1.25 million New Zealand dollars could be purchased at Y Bank. These New Zealand dollars could then be sold to X Bank for $1,002,500, thereby generating a profit of $2,500.2.Assum.tha.th.spo.exchang.rat.o.th.Britis.poun.i.$1.90..Ho.wil.thi.spo.rat.adjus.i.tw.year.i.th.Unite.Kingdo.experience.a.inflatio.rat.o..percen.pe.yea.whil.th.Unite.State.experience.a.inflatio.rat.o..perc en. pe.year?(10%)ANSWER:According to PPP, forward rate/spot=indexdom/indexforth.exchang.rat.o.th.poun.wil.depreciat.b.4..percent.Therefore.th.spo.rat.woul.adjus.t.$1.9..[..(–.047)..$1.81073.Assum.tha.th.spo.exchang.rat.o.th.Singapor.dolla.i.$0.70..Th.one-yea.interes.rat.i.1.percen.i.th.Unite.State.a n..percen.i.Singapore..Wha.wil.th.spo.rat.b.i.on.yea.accordin.t.th.IFE?.(5%)ANSWER: according to the IFE,St+1/St=(1+Rh)/(1+Rf)$.70 × (1 + .04) = $0.7284.Assum.tha.XY.Co.ha.ne.receivable.o.100,00.Singapor.dollar.i.9.days..Th.spo.rat.o.th.S.i.$0.50.an.th.Singap or.interes.rat.i.2.ove.9.days..Sugges.ho.th.U.S.fir.coul.implemen..mone.marke.hedge..B.precis. .(10%)ANSWER: The firm could borrow the amount of Singapore dollars so that the 100,000 Singapore dollars to be received could be used to pay off the loan. This amounts to (100,000/1.02) = about S$98,039, which could be converted to about $49,020 and invested. The borrowing of Singapore dollars has offset the transaction exposure due to the future receivables in Singapore dollars.pan.ordere..Jagua.sedan.I..month..i.wil.pa.£30,00.fo.th.car.I.worrie.tha.poun.ster1in.migh.ris.sharpl.fro.th.curren.rate($1.90)pan.bough...mont.poun.cal.(suppose.contrac.siz..£35,000.wit..strik.pric.o.$1.9.fo..premiu.o.2..cents/£.(1)Is hedging in the options market better if the £ rose to $1.92 in 6 months?(2)what did the exchange rate have to be for the company to break even?（15%）Solution:(1)I.th..ros.t.$pan.woul. exercis.th.poun.cal.option.Th.su.o.th.strik.pric.an.premiu..i.$1.90 + $0.023 = $1.9230/£Thi.i.bigge.tha.$1.92.So hedging in the options market is not better.(2.whe.w.sa.th. compan.ca.brea.even.w.mea.tha.hedgin.o.no.hedgin.doesn’. matter.An.onl.whe.(strik.pric..premiu.).th.exchang.rat.,hedging or not doesn’t matter.So, the exchange rate =$1.923/£.6.Discus.th.advantage.an.disadvantage.o.fixe.exchang.rat.system.(15%)textbook page50 答案以教材第50 页为准PART Ⅳ: Diagram(10%)Th.strik.pric.fo..cal.i.$1.67/£.Th.premiu.quote.a.th.Exchang.i.$0.022.pe.Britis.pound.Diagram the profit and loss potential, and the break-even price for this call optionSolution:Following diagram shows the profit and loss potential, and the break-even price of this put option:PART Ⅴa) b) Calculate the expected value of the hedge.c) How could you replicate this hedge in the money market?Yo.ar.expectin.revenue.o.Y100,00.i.on.mont.tha.yo.wil.nee.t.cover.t.dollars.Yo.coul.hedg.thi.i.forwar.market.b.takin.lon.position.i.U.dollar.(shor.position.i.Japanes.Yen).B.lockin.i.you.pric.a.$..Y105.you.dolla.revenue.ar.guarantee.t.b.Y100,000/ 105 = $952You could replicate this hedge by using the following:a) Borrow in Japanb) Convert the Yen to dollarsc) Invest the dollars in the USd) Pay back the loan when you receive the Y100,000。

2020年整理国际经济学英文题库(最全版附答案).doc

【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 above5. Economic interdependence is greater for:*A. small nationsB. large nationsC. developed nationsD. developing nations6. The gravity model of international trade predicts that trade between two nations is largerA. the larger the two nationsB. the closer the nationsC. the more open are the two nations*D. all of the above7. International economics deals with:A. the flow of goods, services, and payments among nationsB. policies directed at regulating the flow of goods, services, and paymentsC. the effects of policies on the welfare of the nation*D. all of the above8. International trade theory refers to:*A. the microeconomic aspects of international tradeB. the macroeconomic aspects of international tradeC. open economy macroeconomics or international financeD. all of the above9. Which of the following is not the subject matter of international 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 AdvantageMultiple-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 nationB 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 n a difference in:A. factor endowmentsB. technologyC. tastes*D. all of the above14. In the trade between a small and a large nation:A. the large nation is likely to receive all of the gains from trade*B. the small nation is likely to receive all of the gains from tradeC. the gains from trade are likely to be equally sharedD. we cannot say15. The Ricardian trade model has been empirically*A. verifiedB. rejectedC. not testedD. tested but the results were inconclusive思考题：比较优势原理所带来的贸易所得是从何而来的？贸易利益又是如何分配的？现实世界中比较优势是如何度量的？你认为目前中国具有比较优势的商品有哪些？这意味着什么？比较优势会不会发生变化？什么样的原因可能会导致其变化？经济学家是如何验证比较优势原理的？Chapter 3: The Standard Theory of International TradeMultiple-Choice Questions1. A production frontier that is concave from the origin indicates that the nation incur s 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 above7. 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/Py9. If the internal Px/Py is lower in nation 1 than in nation 2 without trade:A. nation 1 has a comparative advantage in commodity YB. nation 2 has a comparative advantage in commodity X*C. nation 2 has a comparative advantage in commodity YD. none of the above10. Nation 1's share of the gains from trade will be greater:A. the greater is nation 1's demand for nation 2's exports*B. the closer Px/Py with trade settles to nation 2's pretrade Px/PyC. the weaker is nation 2's demand for nation 1's exportsD. the closer Px/Py with trade settles to nation 1's pretrade Px/Py11. If Px/Py exceeds the equilibrium relative Px/Py with tradeA. the nation exporting commodity X will want to export more of X than at equilibr iumB. the nation importing commodity X will want to import less of X than at equilibri 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 TradeMultiple 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 above8. 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 withtradeB. 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 trade partner are:A. 3/4*B. 2/3C. 3/2D. 4/310. If the terms of trade increase in a two-nation world, those of the trade 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 commodit yC. 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 TheoryMultiple-Choice Questions1. The H-O model extends the classical trade model by:A. explaining the basis for comparative advantageB. examining the effect of trade on factor prices*C. both A and BD. neither A nor B2. Which is not an assumption of the H-O model:A. the same technology in both nationsB. constant returns to scale*C. complete specializationD. equal tastes in both nations3. With equal technology nations will have equal K/L in production if:*A. factor prices are the sameB. tastes are the sameC. production functions are the sameD. all of the above4. We say that commodity Y is K-intensive with respect to X when:A. more K is used in the production of Y than XB. less L is used in the production of Y than X*C. a lower L/K ratio is used in the production of Y than XD. a higher K/L is used in the production of X than Y5. When w/r falls, L/KA. falls in the production of both commodities*B. rises in the production of both commoditiesC. can rise or fallD. is not affected6. A nation is said to have a relative abundance of K if it has a:A. greater absolute amount of KB. smaller absolute amount of LC. higher L/K ratio*D. lower r/w7. A difference in relative commodity prices between nations can be based on a diffe rence in:A. technologyB. factor endowmentsC. tastes*D. all of the above8. In the H-O model, international trade is based mostly on a difference in:A. technology*B. factor endowmentsC. economies of scaleD. tastes9. 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 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 factorsB. 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?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?*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:*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-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 advan ced 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 TradeMultiple-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:*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 above9. 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 nation's terms of trade can be expected to:*A. deteriorateB. improveC. remain unchangedD. any of the aboveA proportionately greater increase in the nation's supply of labor than of capital is lik elyto result in a deterioration in the nation's terms of trade if the nation exports: 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 tariff2. 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.。

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