国际经济学英文版选择题
练习题二： Part A: Multiple Choice
DADCC BACDB DD
1. In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in
A) tastes.
B) military capabilities.
C) size.
D) relative availabilities of factors of production.
E) labor productivities.
2.The slope of a countryʹs PPF reflects
A) the opportunity cost of product S in terms of product T.
B) the opportunity cost of T in terms of money prices.
C) the opportunity cost of S or T in terms of S.
D) Both A and B.
E) Both A and C.
3. According to the Heckscher-Ohlin model, the source of comparative advantage is a countryʹs
A) Technology.
B) advertising.
C) human capital.
D) factor endowments.
E) Both A and B.
4. If Australia has relatively more land per worker, and Belgium has relatively m ore capital per worker, then if trade were to open up between these two countries,
A) the relative price of the capital-intensive product would rise in Australia.
B) the world price of the land-intensive product would be higher than it had been in Belgium.
C) the world price of the land intensive product would be higher than it had been in Australia.
D) the relative price of the land intensive product would rise in Belgium.
E) None of the above.
5. The Heckscher-Ohlin model predicts all of the following except
A) which country will export which product.
B) which factor of production within each country will gain from trade.
C) the volume of trade.
D) that wages will tend to become equal in both trading countries.
E) None of the above.
6. External economies of scale arise when the cost per unit
A) rises as the industry grows larger.
B) falls as the industry grows larger rises as the average firm grows larger.
C) falls as the average firm grows larger.
D) remains constant.
E) None of the above.
7. External economies of scale
A) may be associated with a perfectly competitive industry.
B) cannot be associated with a perfectly competitive industry.
C) tends to result in one huge monopoly.
D) tends to result in large profits for each firm.
E) None of the above.
8. The simultaneous export and import of widgets by the United States is an exa mple of
A) increasing returns to scale.
B)B) imperfect competition.
C) intra-industry trade.
D) inter-industry trade.
E) None of the above.
9. Intra-industry trade can be explained in part by
A) transportation costs within and between countries.
B) problems of data aggregation and categorization.
C) increasing returns to scale.
D) All of the above.
E) None of the above.
10. Intra-industry trade will tend to dominate trade flows when which of the follo wing exists?
A) large differences between relative country factor availabilities
B) small differences between relative country factor availabilities
C) homogeneous products that cannot be differentiated
D) constant cost industries
E) None of the above.
11. The larger the number of firms in a monopolistic competition situation,
A) the larger are that countryʹs exports.
B) the higher is the price charged.
C) the fewer varieties are sold.
D) the lower is the price charged.
E) None of the above.
12. The larger the number of firms in a monopolistic competition situation,
A) the larger are that countryʹs exports.
B) the higher is the price charged.
C) the fewer varieties are sold.
D) the lower is the price charged.
E) None of the above.
Part B： Short Questions
1. ʹThe H.O. model remains useful as a way to predict the income distribution effect s of trade.ʹ Discuss.
Answer: T he Stolper-Samuelson theorem, one of the basic theorems arising from the
Heckscher-Ohlin model yields an elegant demonstration of the fact that changes i n product prices (such as will occur when trade is expanded or curtailed) telescop es its effects onto factor prices, so that not only do relative factor returns mirror product prices, but that actual returns to factors may either rise or fall in real ter ms. Hence, as a policy framework, the disproportionate effect trade may have on real incomes of sectors, such as skilled-labor is quite useful both theoretically and practically (or polemically)
2. International trade leads to complete equalization of factor prices. Discuss. This statement is typically ʹtrue . . . but.ʹ Under a strict and limited set of assumptions, such as the original Heckscher-O hlin model which excludes country specific technologies; non- homothetic tastes; factor intensity reversals; large country differences in (relative) factor abundance s, more factors than goods, and an equilibrium solution within the ʹcone of specializationʹ; then it may be
demonstrated that internal consistency demands that the above stated sentence is
ʹtrue.ʹ However, the minute one relaxes any of the above listed assumptions one may ea sily identify solutions, which contradict the factor price equalization theorem.
3. If a scale economy is the dominant technological factor defining or establishing comparative
advantage, then the underlying facts explaining why a particular country domina tes world markets in some product may be pure chance, or historical accident. E xplain, and compare this with the answer you would give for the Heckscher-Ohli n model of comparative advantage.
T his statement is true, since the reason the seller is a monopolist may be that it happened to have been the first to produce this product in this country. It may ha ve no connection to any supply or demand related factors; nor to any natural or man-made availability. This is all exactly the opposite of the Heckscher-Ohlin Ne o-Classical modelʹs explanation of the determinants of comparative advantage.
练习题三 Part A Multiple Choice
B E D D A D A A A
C C A B
D D
1) International borrowing and lending may be interpreted as one form of
A) intermediate trade.
B) inter-temporal trade.
C) trade in services.
D) unrequited international transfers.
E) None of the above.
2) International free labor mobility will under all circumstances
A) increase total world output.
B) improve the economic welfare of everyone.
C) improve the economic welfare of workers everywhere.
D) improve the economic welfare of landlords (or capital owners) everywhere.
E) None of the above.
3) International labor mobility
A) leads to wage convergence by raising wages in destination country and lowering in source country.
B) is in accordance with the specific factors model.
C) is in accordance with the Heckscher-Ohlin factor proportions model.
D) leads to wage convergence by raising wages in source and lowering them in destin ation country.
E) is in accordance with scale economy model.
4) If initially wages are higher in Home than in Foreign, then a movement of wor kers from Foreign to Home will
A) lower the marginal product of labor in Foreign.
B) raise total product in Foreign.
C) raise the income of land owners in Foreign.
D) raise the income of land owners in Home.
E) None of the above.
5) A country that has a comparative advantage in future production of consumpti on goods
A) will tend to be an international borrower.
B) will tend to have low real interest rates.
C) will tend to be an international investor or lender.
D) will tend to have good work ethics. E) None of the above.
6) Why a good is produced in two different countries is known as the question of
A) internalization.
B) vertical integration.
C) exploitation.
D) location.
E) None of the above.
7) Direct foreign investment may take any of the following forms except
A) investors buying bonds of an existing firm overseas.
B) the creation of a wholly owned business overseas.
C) the takeover of an existing company overseas.
D) the construction of a manufacturing plant overseas.
E) None of the above.
8) Multinational corporations
A) increase the transfer of technology between nations.
B) make it harder for nations to foster activities of comparative advantage.
C) always enjoy political harmony in host countries in which their subsidiaries operat e.
D) require governmental subsidies in order to conduct worldwide operations.
E) None of the above.
9) The shift of labor-intensive assembly operations from the United States to Mex ican maqiladora may be best explained in terms of a theory of
A) location.
B) vertical integration.
C) horizontal integration.
D) internalization.
E) None of the above.
10) A lower tariff on imported steel would most likely benefit
A)foreign producers at the expense of domestic consumers.
B) domestic manufacturers of steel.
C) domestic consumers of steel.
D) workers in the steel industry.
E) None of the above.
11) 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) None of the above.
12) If the tariff on computers is not changed, but domestic computer producers s hift from domestically produced semiconductors to imported components, then t
he effective rate of protection in the computer industry will
A) increase.
B) decrease
C) remain the same.
D)depend on whether computers are PCs or ʺSupercomputers.ʺ
E) None of the above.
13) If a small country imposes a tariff, then
A）the producers must suffer a loss.
B) the consumers must suffer a loss.
C) the government revenue must suffer a loss. D) the demand curve must shift to the l eft.
E) None of the above.
14) The effective rate of protection measures
A)the ʺtrueʺ ad valorum value of a tariff.
B) the quota equivalent value of a tariff.
C) the efficiency with which the tariff is collected at the customhouse.
D) the protection given by the tariff to domestic value added.
E) None of the above.
15) As globalization tends to increase the proportion of imported inputs relative t o domestically supplied components,
A) the nominal tariff automatically increases.
B) the rate of (effective) protection automatically decreases.
C) the nominal tariff automatically decreases.
D) the rate of (effective) protection automatically increases. E) None of the above. PART B Short Question 1.
It has been argued that even if intra-European Union labor mobility were to be c ompletely removed, one should not expect to observe massive, or even large reall ocations of populations with the E.U. Discuss.
T heoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) is associated with factor price equalizatio n; so does completely free labor mobility. It therefore follows that if intra E.U. tra de flourishes, as any restraints on trade there are abolished, the economic incenti ve for labor mobility will be removed. Since language and cultural differences re main, we would expect populations to tend to stay where they are.
2. The two deadweight triangles are the Consumption distortion and Production distortion losses. It is easy to understand why the Consumption distortion constit utes a loss for society. After all it raises the prices of goods to consumers, and eve n causes some consumers to drop out of the market altogether. It seems paradoxi cal that the Production distortion is considered an equivalent burden on society. After all, in this case, profits increase, and additional production (with its associa ted employment) comes on line. This would seem to be an offset rather than an a
ddition to the burden or loss borne by society. Explain why the Production distor tion is indeed a loss to society, and what is wrong with the logic that leads to the a pparent paradox.
T he Production Distortion represents an inefficient shift of societyʺs resources to produce a good, which it could not sell profitably at world prices. S ince (with full employment assumed) these resources were formerly used to prod uce export goods, which could compete profitably, the net result is a loss in real i ncome to the country.
练习题五：A E C A D C D D E D A D 1．Which of the following statements is the most accurate? The law of one price states:
A) in competitive markets free of transportation costs and official barrier to trade, iden tical goods sold in different countries must sell for the same price when their prices ar e expressed in terms of the same currency.
B) in competitive markets free of transportation costs and official barrier to trade, iden tical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency.
C) in competitive markets free of transportation costs and official barrier to trade, iden tical goods sold in different countries must sell for the same price.
D) identical goods sold in different countries must sell for the same price when their p rices are expressed in terms of the same currency.
E) None of the above.
2. In order for the condition E$/HK$ = Pus/PHK to hold, what assumptions does the principle of purchasing power parity make?
A) No transportation costs and restrictions on trade; commodity baskets that are a reli able indication of price level.
B) Markets are perfectly competitive, i.e., P = MC.
C) The factors of production are identical between countries.
D) No arbitrage exists. E) A and B.
3. Under Purchasing Power Parity,
A) E$/E = PiUS/PiE.
B) E$/E = PiE/PiUS.
C) E$/E = PUS/PE.
D) E$/E = PE/PES.
E) None of the above.
4. In the short run,
A) the interest rate can rise when the domestic money supply falls.
B) the interest rate can decrease when the domestic money supply falls.
C) the interest rate stays constant when the domestic money supply falls.
D) the interest rate rises in the same proportion as the domestic money supply falls.
E) None of the above.
5. The PPP theory fails in reality because
A) transport costs and restrictions on trade.
B) monopolistic or oligopolistic practices in goods markets.
C) the inflation data reported in different countries are based on different commodity baskets.
D) A, B, and C.
E) A and B only.
6. The PPP theory fails in reality because
A) transport costs and restrictions on trade.
B) monopolistic or oligopolistic practices in goods markets.
C) the inflation data reported in different countries are based on different commodity baskets.
D) A, B, and C.
E) A and B only.
7. A countryʹs domestic currencyʹs real exchange rate, q, is defined as
A) E.
B) E times P.
C) E times P.
D) (E times P)/P.
E) P/(E times P).
8. In the short-run, any fall in EP/P, regardless of its causes, will cause
A) an upward shift in the aggregate demand function and an expansion of output
B) an upward shift in the aggregate demand function and a reduction in output
C) a downward shift in the aggregate demand function and an expansion of output
D) an downward shift in the aggregate demand function and a reduction in output
E) an upward shift in the aggregate demand function but leaves output intact
9. In the short-run, a temporary increase in money supply
A) shifts the DD curve to the right, increases output and appreciates the currency.
B) shifts the AA curve to the left, increases output and depreciates the currency.
C) shifts the AA curve to the left, decreases output and depreciates the currency.
D) shifts the AA curve to the left, increases output and appreciates the currency.
E) shifts the AA curve to the right, increases output and depreciates the currency.
10. Temporary tax cuts would cause:
A) the AA-curve to shift left.
B) the AA-curve to shift right.
C) the DD-curve to shift left.
D) the DD-curve to shift right.
E) a shift in the AA-curve, although the direction is ambiguous.
11. In the short-run, a temporary increase in the money supply
A) shifts the AA curve to the right, increases output and depreciates the currency.
B) shifts the AA curve to the left, increases output and depreciates the currency.
C) shifts the AA curve to the left, decreases output and depreciates the currency.
D) shifts the AA curve to the left, increases output and appreciates the currency.
E) shifts the AA curve to the right, increases output and appreciates the currency.
12. Assume the asset market is always in equilibrium. Therefore a fall in Y would result in:
A) higher inflation abroad.
B) a decreased demand for domestic products.
C) a contraction of the money supply.
D) a depreciation of the home currency.
E) an appreciation of the home currency.
13. What can explain the failure of relative PPP to hold in reality?
Government measures of the price level differ from country to country. One reason f or these differences is that people living in different countries spend their income in di fferent ways. Because of this inherent difference among countries, certain baskets will be affected more by price changes given their consumptions basket. For example, con sumers in country, X, eats more fish relative to another country. More than likely, the government, upon determining a commodity basket to reflect preference, will have an overwhelming representation of fish in their basket. Any price level change in the fish market will be felt particularly by country X, and their overall price level will reflect t his. Thus, changes in the relative prices of basket components can cause relative PPP t o become distorted.
14. Using a figure show that under full employment, a temporary fiscal expansion wo uld increase output (overemployment) but cannot increase output in the long run.
A temporarily fiscal expansion will move the economy from DD1 to DD2, and outp ut increases. A permanent fiscal expansion will also shift the AA curve to the left and down. The nominal exchange rate appreciates, i.e. E decreases.
15. Using the DD model, explain what happens to out put when Government demands increase. Use a figure to explain when it is taking place.
T he figure below shows the G1 to G2 raises output at every level of the exchange rate . The change shifts the DD to the right. Which in turns increases output to Y2.
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国际经济学题库(英文版)
Part Ⅰ. Fill in the blank with suitable content. 1.Seven themes recur throughout the study of international economics. These are the gains from trade , the pattern of trade ,protectionism the balance of payments, exchange rate determination, international policy coordination, international capital market. 2.Countries engage in international trade for two basic reasons :comparative advantage and economics of scale . 3.A country has a comparative advantage in producing a good if the opportunity cost of producing that good in terms of other goods is lower in that country than it is in other countries. 4. Labor is the only one factor of production. LC a 、LW a and *LC a 、* LW a are the unit labor requirement in cheese and wine at Home and Foreign, respectively. If aLC/aLW 国际经济学英文期末考试模拟试题含答案 一、True or False (10*1’=10’) 1. Trade is a zero-sum activity; if one country gains, the other must lose. 2. A nation maximizes satisfaction by reaching the highest possible indifference curve, and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve. 3. The factor endowments model predicts that international trade will tend to equalize the prices of trade-able goods among nations, but to increase the wage gap between capital-abundant and labor-abundant nations. 4. A tax of 10 percent on imports of shoes would be an example of a specific tariff. 5. An import quota will not raise the domestic price of the product as would a tariff, because it is not a tax on imports. 6. In balance-of-payments account, a transaction resulting in receipt of a payment is recorded as a credit, whereas a transaction resulting in a payment to other nations is recorded as a debit. 7. Because they do not include an exchange of goods or services, unilateral transfers do not appear on a nation's balance of payments account. 8. David Hume was one of the first economists to provide analytical support for mercantilist trade policies. 9. A nation would be most 1Answers to Textbook Problems 1.At an exchange rate of$1.50per euro,the price ofa bratwurst in terms ofhot dogs is1.875(7.5/4) hot dogs per bratwurst.After a dollar appreciation to$1.25per euro,the relative price ofa bratwurst falls to1.56(6.25/4)hot dogs per bratwurst.Hot dogs have become more expensive relative to bratwurst. 2.The Norwegian krone/Swiss franc cross rate must be6Norwegian krone per Swiss franc. 58Krugman/Obstfeld•InternationalEconomics:Theory andPolicy,Eighth Edition 3.When the yen depreciates vs.the dollar,its costs go up.This depresses its profits.On the other hand, ifit 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 ofreturn 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 ofthe dollar; the dollar appreciation is($1.38$1.50)/$1.50=0.08.The other part ofthe return is the interestpaidbythe Londonbank onthe deposit,10percent.(The size ofthe deposit is immaterial to the calculation ofthe rate ofreturn.)In terms ofdollars,the realized return on the London deposit is thus2percent per year. 5.Note here that the ordering ofthe returns ofthe three assets is the same whether we calculate real or nominal returns. a.The real return on the house would be25%10%=15%.This return could also be calculated by first finding the portion ofthe$50,000nominal increase in the house’s price due to inflation ($20,000),then finding the portion ofthe nominal increase due to real appreciation($30,000), and finally finding the appropriate real rate ofreturn($30,000/$200,000=0.15). b.Again,subtracting the inflation rate from the nominal return,we get20%10%=10%. c. 2% 10% = 8%. 6.The current equilibrium exchange rate must equal its expected future level since,with equality of nominal interest rates,there can be no expected increase or decrease in the dollar/pound exchange rate in equilibrium.Ifthe expected exchange rate remains at$1.52per pound and the pound interest rate rises to10percent,then interest parity is satisfied only ifthe current exchange rate changes such that there is an expected appreciation ofthe dollar equal to5percent.This will occur when the exchange rate rises to$1.60per pound(a depreciation ofthe dollar against the pound). 7.Ifmarket traders learn that the dollar interest rate will soon fall,they also revise upward their expectation ofthe 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 II leads to a depreciation ofthe dollar from E 0to E 1 . Figure13.2 International Economics’ Middle Test 1. The mercantilists would have objected to: a. Export promotion policies initiated by the government b. The use of tariffs or quotas to restrict imports c. Trade policies designed to accumulate gold and other precious metals d. International trade based on open markets 2. Unlike Adam Smith, David Ricardo’s trading principle emphasizes the: a. Demand side of the market b. Supply side of the market c. Role of comparative costs d. Role of absolute costs 3. A nation that gains from trade will find its consumption point being located: a. Inside its production possibilities curve b. Along its production possibilities curve c. Outside its production possibilities curve d. None of the above 4. If a production possibilities curve is bowed out (i.e., concave) in appearance, production occurs under conditions of: a. Constant opportunity costs b. Increasing opportunity costs c. Decreasing opportunity costs d. Zero opportunity costs 5. Increasing opportunity costs suggest that: a. Resources are not perfectly shiftable between the production of two goods b. Resources are fully shiftable between the production of two goods c. A country’s production possibilities curve appears as a straight line d. A country’s produ ction possibilities curve is bowed inward (i. e., convex) in appearance 6. The trading-triangle concept is used to indicate a nation’s: a. Exports, marginal rate of transformation, terms of trade b. Imports, terms of trade, marginal rate of transformation c. Marginal rate of transformation, imports, exports d. Terms of trade, exports, imports 7. The earliest statement of the principle of comparative advantage is associated with: a. Adam Smith b. David Ricardo c. Eli Heckscher d. Bertil Ohlin 8. When a nation achieves autarky equilibrium: a. Input price equals final product price b. Labor productivity equals the wage rate c. Imports equal exports d. Production equals consumption 9. The gains from international trade increase as: a. A nation consumes inside of its production possibilities schedule b. A nation consumes along its production possibilities schedule c. The international terms of trade rises above the nation’s autarky price d. The international terms of trad e approaches the nation’s autarky price 10. Under free trade, Canada would not enjoy any gains from trade with Sweden if Canada: a. Trades at the Canadian rate of transformation b. Trades at Sweden’s rate of transformation c. Specializes completely in the production of its export good d. Specializes partially in the production of its export good 11. A rise in the price of imports or a fall in the price of exports will: a. Improve the terms of trade b. W orsen the terms of trade c. Expand the production possibilities curve d. Contract the production possibilities curve 12. A term-of-trade index that equals 90 indicates that compared to the base year: a. It requires a greater output of domestic goods to obtain the same amount of foreign goods b. It requires a lesser amount of domestic goods to obtain the same amount of foreign goods c. The price of exports has fallen from $100 to $90 d. The price of imports has fallen from $100 to $90 13. The use of indifference curves helps us determine the point: a. Along the production possibilities curve a country will choose b. At which a country maximizes its resource productivity c. At which a country ceases to become competitive d. Where the marginal rate of transformation approaches zero 14. The equilibrium prices and quantities established after trade are fully determinate if we know: a. The location of all countries’ indifference curves b. The shape of each country’s production possibilities curve c. The comparative costs of each trading partner d.The strength of world supply and demand for each good 15. In the absence of trade, a nation is in equilibrium where a community indifference curve: CHAPTER 2 *(Core Chapter) THE LAW OF COMPARATIVE ADVANTAGE OUTLINE 2.1 Introduction 2.2 The Mercantilists' Views on Trade Case Study 2-1: Munn's Mercantilistic Views on Trade Case Study 2-2: Mercantilism Is Alive and Well in the Twenty-first Century 2.3 Trade Based on Absolute Advantage: Adam Smith 2.3a Absolute Advantage 2.3b Illustration of Absolute Advantage 2.4 Trade Based on Comparative Advantage: David Ricardo 2.4a The Law of Comparative Advantage 2.4b The Gains from Trade 2.4c Exception to the Law of Comparative Advantage 2.4d Comparative Advantage with Money Case Study 2-3: The Petition of the Candlemaker 2.5 Comparative Advantage with Opportunity Costs 2.5a Comparative Advantage and the Labor Theory of Value 2.5b The Opportunity Cost Theory 2.5c The Production Possibility Frontier Under Constant Costs 2.5d Opportunity Costs and Relative Commodity Prices 2.6 The Basis and the Gains from Trade Under Constant Costs 2.6a Illustration of the Gains from Trade 2.6b Relative Commodity Prices with Trade 2.7 Empirical Tests of the Ricardian Model Case Study 2-4: Relative Unit Labor Costs and Relative Exports –United States and Japan Appendix: A2.1 Comparative Advantage with More than Two Commodities A2.2 Comparative Advantage with More than Two Nations Key Terms 国际经济学答案英文 Chapter 2 1．Home has 1200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. a ．Graph out the production possibilities frontier: b ．What is the opportunity cost of apples in terms of bananas? 5.1 Lb La a a c ．In the absence of trade, what would the price of apples in terms of bananas be? In the absence of trade, since labor is the Home's PPF 200400600800200 400 600 800 Q apple Q banana only factor of production and supply decisions are determined by the attempts of individuals to maximize their earnings in a competitive economy, only when Lb La b a /a a /P P =will both goods be produced. So 1.5 /P P b a = 2．Home is as described in problem 1. There is now also another country, Foreign, with a labor force of 800. Foreign ’s unit labor requirement in apple production is 5, while in banana production it is 1. a ．Graph Foreign ’s production possibilities frontier: Foreign's PPF 0 200400600 8001000 80160240320400 Q*apple Q*banana Chapter 7: Economies of Scale, Imperfect Competition, and International Trade 1. External economies of scale arise when the cost per unit A. rises as the industry grows larger. B. falls as the industry grows larger rises as the average firm grows larger. C. falls as the average firm grows larger. D. remains constant. E. None of the above. 2. Internal economies of scale arise when the cost per unit A. rises as the industry grows larger. B. falls as the industry grows larger. C. rises as the average firm grows larger. D. falls as the average firm grows larger. E. None of the above. 3. External economies of scale A. may be associated with a perfectly competitive industry. B. cannot be associated with a perfectly competitive industry. C. tends to result in one huge monopoly. D. tends to result in large profits for each firm. E. None of the above. 4. Internal economies of scale A. may be associated with a perfectly competitive industry. B. cannot be associated with a perfectly competitive industry. C. are associated only with sophisticated products such as aircraft. D. cannot form the basis for international trade . E. None of the above. 5. A monopolistic firm A. can sell as much as it wants for any price it determines in the market. B. cannot determine the price, which is determined by consumer demand. C. will never sell a product whose demand is inelastic at the quantity sold. D. cannot sell additional quantity unless it raises the price on each unit. E. None of the above. 6. Monopolistic competition is associated with A. cut-throat price competition. B. product differentiation. C. explicit consideration at firm level of the feedback effects of other firms' pricing decisions. D. high profit margins. E. None of the above. 练习题二： Part A: Multiple Choice DADCC BACDB DD 1. In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in A) tastes. B) military capabilities. C) size. D) relative availabilities of factors of production. E) labor productivities. 2.The slope of a countryʹs PPF reflects A) the opportunity cost of product S in terms of product T. B) the opportunity cost of T in terms of money prices. C) the opportunity cost of S or T in terms of S. D) Both A and B. E) Both A and C. 3. According to the Heckscher-Ohlin model, the source of comparative advantage is a countryʹs A) Technology. B) advertising. C) human capital. D) factor endowments. E) Both A and B. 4. If Australia has relatively more land per worker, and Belgium has relatively m ore capital per worker, then if trade were to open up between these two countries, A) the relative price of the capital-intensive product would rise in Australia. B) the world price of the land-intensive product would be higher than it had been in Belgium. C) the world price of the land intensive product would be higher than it had been in Australia. D) the relative price of the land intensive product would rise in Belgium. E) None of the above. 5. The Heckscher-Ohlin model predicts all of the following except A) which country will export which product. B) which factor of production within each country will gain from trade. C) the volume of trade. D) that wages will tend to become equal in both trading countries. E) None of the above. 6. External economies of scale arise when the cost per unit A) rises as the industry grows larger. C h a p t e r13:T h e B a l a n c e o f P a y m e n t s Multiple-choice Questions: 1. Which of the following is false? A. A credit transaction leads to a payment from foreigners B. A debit transaction leads to a payment to foreigners *C. A credit transaction is entered with a negative sign D. Double-entry bookkeeping refers to each transaction entered twice. 2. Which of the following is a debit? A. The export of goods sterling balances in a London Bank, the U.S. debits its current account and credits its: A. official reserve account B. unilateral transfers account C. services in its current account *D. capital account 8. When the U.S. ships food aid to a developing nation, the U.S. debits: *A. unilateral transfers B. services C. capital D. official reserves国际经济学英文期末考试模拟试题含答案
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