国际经济学练习题(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<aLC*/aLW* , Home has a comparative advantage in cheese. C p /W p is the relative price of cheese, whenaLC/aLW< Pc/Pw<aLC*/aLW* Home and Foreign specialize in producing cheese and wine , respectively.5. 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. L and L*are Home’s and Foreign’s labor force. IfLC a /LW a <C p /W p <*LC a /*LW a , the world relative supply of cheese equals （L/aLC ）/(L*/aLW*) . Home’s gains from indirectly producing wine can be shown as (1/aLC)(Pc/Pw)－1/aLW6. In specific factors model(Q M =Q M (K, L M ); Q F =Q F (T, L F ); L=L M +L F ), if Home produces and trades manufactured goods for food , the overall comparison of the five change rate of goods price and factorprice MP ˆ、F P ˆ、K r ˆ、T r ˆ、W ˆinside Home is T F M K r P W P r ∧∧∧∧∧〉〉〉〉 . That is, the real income ofcapitalists increase, it can be shown as K r .7. There are two main reasons why international trade has strong effects on the distribution of income.First, resources can ’t move immediately or costlessly form one industry to another Second Industries differ in the factors of production they demand.8. In the Heckscher-Ohlin model,Comparative advantage is influenced by the interaction between relative abundance and relative intensity9.According to stolper-sammelson effect if the relative price of a good rises, the real income of the factor which intensively used in that good will rise, while the real income of the other factor will fall. 10.According to 罗布津斯基效应 Rybczynski effect , at unchanged relative goods price, if the supply of a factor of production increases, the output of the good that are intensive in that factor will rise, while the output of the other good will fall.11.According to H-O 模型H-O proposition , owners of a country’s abundant factors gain from trade, but owners of a country’s scare factors lose.12.According to 要素价格均等化命题 Factor price equalization proposition , international trade produces a convergence （收敛） of relative goods prices. This convergence, in turns, causes theconvergence of the relative factor prices. Trade leads to complete 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 technologies are the same (3) 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 .14.“U.S. exports were less capit al-intensive than U.S. imports” is known as 里昂惕夫悖论 Leontief paradox .15.The Ricardian 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 standard 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 decline （下降） of the welfare caused by the deterioration （恶化） ofthe terms of trade swap over （交换） the rise of the welfare caused by growth, the growth is immiserizing growth (贫困化增长).18. Some economists argued that export-biased growth by poor nations would worsen 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 immiserizing growth (贫困化增长) .19.Immiserizing growth demands strict conditions, these conditions are economic growth is strongly export-biased , the growing country is large enough to affect the world price , RS and RD must be very steep .20.According to “ 梅茨勒悖论Metzle paradox ”, t ariffs and export subsidies （补贴） might have perverse （有害的） effects on internal price. 21.In the model of “Monopolistic （垄断） Competition and Trade”, firms of an individual nation face the trade-off between economies of scale and variety of products .22. Marshall argued that there were three main reasons why a cluster of firms （企业集群）may be more efficient than an individual firm in isolation: specialized supplies , labor market pooling , knowledge 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 pattern.39. When there is external economies （外部经济）, the pattern of international trade is determined by economics of scale interact with comparative advantage .24. The indexes （指标）of intrainindustry trade of a industry can be calculated by the standard formula:25. 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 argument of temporary （暂时的） protection of industries to enable them to gain experience 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 welfarecan be separated into two parts: terms of trade gain and efficiency loss 28.Why do countries adopt trade policies such as tariff or import quota, which produce more costs than benefits?—— trade politics29.In the political economy of trade policy （贸易政策的政治经济学） , government are assumed to （被假定为）maximize 政治成功political success rather than 国家福利 national welfare . 30.Deviations from free trade can sometimes increase national welfare. These arguments include the 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.First domestic market failure should be corrected by domestic policies aimed directly at the problems ’ sources ;Second economists cannot diagnose market failure well enough to prescribe policy .33. International trade often produces losers as well as winners. In the actual politics of trade policy,income distribution is of crucial importance. 集体行动问题The problem of collective action can explain why policies that not only seem to produce more costs than benefits but that also seem to hurt far more voters them they can help can nonetheless be adopted.34.The WTO includes four aspects content: GATT 1994, GATS , TRIPS , TRIMS35.“Nondiscriminatory” principles （非歧视性原则）include most favored nation principle and national treatment principle36.For preferential （优惠） trading agreements, such as customs union , countries must cede part ofexp 1exp orts importsI orts imports -=-+their sovereignty 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 desirable （可取） or undesirable depends on whether it largelyindustrialization and coping with the problems of the dual economy. Correspondingly, there are two main arguments for developing countries to pursue policy of import-substituting industrialization. The two arguments are the infant industry argument t and market failure justification for infant industry protection .40. Sophisticated proponents of the infant industry argument have identified two market failures as reasons why infant industry protection may be a good idea: The imperfect capital markets justification and The appropriability argument .Part Ⅱ. True or False (true and false are denoted by “T” and “F”, respectively) 1. If a LW */a L C *<a LW /a L C , Home’s relat ive 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 *Li a /Li a >w /*w will be produced in Foreign. ( F )3. It is precisely because the relative wage is between the relative productivities that each country ends up with a cost advantage in one good. ( T )4.Long-run convergence(长期收敛) in productivity （生产力）produces long-run convergence 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 to the 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 unqualified(不合格). That is, there is no requirement that a country be “competitive” or that the trade be “fair”. ( T)7. Free trade is beneficial only if your country is strong enough to stand up to foreign competition. ( 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. (T )12. The basic prediction of the Ricardian model has been strongly confirmed by a number 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 by(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 benefits the factor that is specific to the import-competing 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 taxes and subsidies (补贴) to redistribute （重新分配） income to give each individual more of both goods. ( T )19. Although international trade has strong effects on income distribution, there are still possible in principle to make each individual better off. ( T )20. Typically, those who gain from trade in any particular product are a much more concentrated, informed, and organized group than those who lose. ( F )21. Conflicts of interest(利益冲突) within nations are usually more important in determining trade policythan conflicts of interest between nations. ( T )22. Generally, economists do not regard the income distribution effects of trade as a good reason 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 s abundant—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 1990s, economists attribute the change to the growing exports of manufactured goods from NIEs. ( 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 not only the direction 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. According to an influential recent paper, the H-O model can predict not only the direction but the volume of trade. Factor trade in general turn out to be t he same a s the H-O model predicts. ( F )30. Only by dropping the Heckscher-Ohlin assumption that technologies are the same across the countries can the overall pattern of international trade be well predicted by the H-O model. ( T )31.If 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 increases a country’s welfare, while a decline in the terms of trade reduces its welfare. ( T )33.Export-biased growth tends to improve the growing country’s terms of trade at the rest of the world’s expense.( F )34.If the two countries allocate(分配) their change in spending in the same proportions, there will not be a terms of trade effect. ( T )35. If the country receiving a transfer spends a higher proportion of an increase income on its export good than the giver, a transfer raises world relative demand for the recipient’s export good and thus improve it s terms of trade. ( T )36.A transfer worsens the donor’s terms of trade if the donor has a higher mariginal propensity to spend on its export good than the recipient(受体). ( T )37.A transfer improves the donor’s terms of trade, worsens recipient’s terms of tra de. ( F )38.A transfer of income——say foreign aid——could conceivably leave the recipient worse off. ( T )39.A tariff improves Home’s terms of trade and worsens Foreign’s, while a Home export subsidy worsens Home’s terms of trade and improve Foreign’s.( T )40. Where there is economies of scale, there is imperfectly competitive market structure. ( F )41.If intraindustry trade is the dominant source of gains from trade, everyone 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 industries characterized by internal economies of scale is monopolistic competition. ( F )44.Today, antidumping(反倾销) may be a device of protectionism. ( 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 dumping increase national welfare. ( T )47.Strong external(外部) economies te nd to “locked in” the existing patterns of interindustry trade, even if the patterns are run counter to(背道而驰) comparative advantage. ( T )48.A trading country can conceivably lose from trade is potentially justify protectionism. ( T )49.Like static external economies, dynamic external economies can lock in an initial advantage in an industry. ( T )50.The stratigic trade policy is related to the model of “Monopolistic competition, differentiate product s and intraindustry trade”. ( F )51.The model “Oligopoly, homogeneous products and intraindustry trade” is first developed by Krugman and Helpman . ( F )52.Trade in factors is very much like trade in goods, it occurs for much the same reasons and producessimilar results. ( T )53.Trade in factors is an alternative(替代) to trade in goods for the allocation of resources. ( T )54.Wh en a country borrows, it’s intertemporal PPF is biased toward Q P.( F )55.The relative price of future consumption goods Q P is (1+r). ( T )56.The dynamic path of TNC s’ enter foreign market：FDI→Export→Licence. (F )57.Tariffs may have very different effects on different stages of production 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 benefits analysis of a tariff is correct if only the direct gains to producers and consumers in a given market accurately measure the social gains. ( T )60.The costs and benefits analysis of a tariff is correct if only a dollar’s worth of benefits 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 been widely used by developing countries trying to shift their manufacturing from assembly back into intermediate 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.Deviations from free trade can sometimes increase national 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 doubtful usefulness. (F )68. “U.S. farm exports don’t just mean hi gher incomes for farmers — they mean higher income for everyone who sell goods and services to the U.S. farm sector”. This remark is a potential valid a rgument for export subsidy. ( T )69.Most deviations from free trade are adopted not because their benefit exceed their costs but because the public fails to understand their true costs. ( T )70.If 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 action can best be overcome when a group is large and/or well organized. （F ）73.Trade policy that produce more costs than benefits, hurt more consumers than producers can’t be adopted.( F )74. As a violation of the MFN(“most favored nation”) principle, the WTO forbids preferent ial trading agreements in general, but allows them if they lead to free trade between the agreeing countries. ( T )75.The infant industry argument violates (违背)the principle of comparative advantage ( T )76.Import substituting industrialization(进口替代工业化) violates the principle of comparative advantage.( T )77. “Import quotas on capital-intensive industrial goods and subsidies for the import of capital equipment were meant to create manufacturing jobs in many developing countries. Unfortunately, they have probably helped create the urban unemployment problem.” ( T )78.The East Asian Miracle proved that industrialization and development must be based on import substitution. ( F )79.It is impossible for country to make itself worse off by joining accustoms union(联盟). ( F )PartⅢ. Choose the ONLY one collect answer in each question.1. An important insight（启示）of international trade theory is that when countries exchange goods and services one with the 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.2. If there are large disparities（差距）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.3.Cost-benefit analysis of international trade（成本收益分析）A.is basically useless.B.is empirically intractable.C.focuses attention on conflicts of interest within countries.D.focuses attention on conflicts of interests between countries.E.None of the above.4. A primary reason why nations conduct international trade is because of differences inA.historical perspective.B.location.C.resource availabilities.D.tastes.E.incomes.5. Arguments for free trade are sometimes disregarded（忽视）by the political process becauseA.economists tend to favor highly protected domestic markets.B.economists have a universally accepted decisive power over the political decision mechanism.C.maximizing consumer 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 paramount concern to typical consumers.E.None of the above.6.Proponents（支持）of free trade claim all of the following as advantages except＿＿A. relatively high wage levels for all domestic workers.B. a wider selection of products for consumersC. increased competition 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 advantage in the production of one particular product we need information on at least ____unit labor requirementsA.oneB.twoC.threeD fourE five7. A country engaging in trade according to the principles of comparative advantage gains from trade because itD.is producing exports indirectly more efficiently than it could alternatively.E.is producing imports indirectly more efficiently than it could domestically.F.is producing exports using fewer labor units.G.is producing imports indirectly using fewer labor units.H.None of the above.8. A nation engaging in trade according to the Ricardian model will find its consumption bundle （消费约束）A.inside its production possibilities frontier.B.on its production possibilities frontier.C.outside its production possibilities frontier （生产可能性边界）.D.inside its trade-partner's production possibilities frontier.E.on its trade-partner's production possibilities frontier.9.If a very small country trades with a very large country according to the Ricardian model, thenA.the small country will suffer a decrease in economic welfare.B.the large country will suffer a decrease in economic 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 between the domestic cost ratio of H and that of F, thenA.country H but not country F will gain from trade.B.country H and country F will both gain from trade.C.neither country H nor F will gain from trade.D.only the country whose government subsidizes its exports will gain.E.None of the above.11.If a production possibilities frontier is bowed out (concave to the origin) )(上凸，凹面向原点), then production occurs under conditions ofA.constant opportunity costs.B.increasing opportunity costs.C.decreasing opportunity costs.D.infinite opportunity costs.E.None of the above.12.If two countries have identical production possibility frontiers, then trade between them is not likely ifA.their supply curves are identical.B.their cost functions are identical.C.their demand conditions identical.D.their incomes are identical.E.None of the above.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. productivity equaled 30 units per hour whereas Japan's was 20.C.U.S. labor productivity equaled 20 and Japan's 30.D.U.S. labor productivity equaled 15 and Japan's 25 units per hour.E.None of the above.14.International trade has strong effects on income distributions. Therefore, international trade A.is beneficial to everyone in both trading countries.B.will tend to hurt one trading country.C.will tend to hurt some groups in each trading country.D.will tend to hurt everyone in both countries.E.will be beneficial to all those engaged in international trade.15.If the price of the capital intensive product rises, wages willA.rise but by less than the price of the capital-intensive product.（工资刚性，变动较慢）B.rise by more than the rise in the price of the capital-intensive product.C.remain proportionally equal to the price of the capital-intensive product.D.fall, since higher prices cause less demand.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 open up between these two countries,A.the real income of capital owners in Australia would rise.B.the real income of labor in Australia would clearly rise.C.the real income of labor in Belgium would clearly rise.D.the real income of landowners 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 incomes of capital owners in both countries would rise.17.If the price of manufactures and the price of food increase by 25%, thenA.the economy moves down its aggregate supply curve.B.the economy moves back along its aggregate demand curve.C.the relative quantities（相对数量）of manufactures and food remain unchanged.D.the relative quantities of products change by 25%.E.None of the above.18.If the price of manufactures rises, thenA.the price of food also rises.B.the quantity of food produced falls.C.the quantity of both manufactures and food falls.D.the purchasing 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 direction of comparative advantage.B.abolish the Specific Factor model from practical application.C.provide public support for the relatively efficient sectors.D.provide protection for the relatively inefficient sectors.E.None of the above.19.The specific factor model argues that if land can be used both for food production and for manufacturing, then a quota that protects food production willA.clearly help landowners.B.clearly hurt landowners.C.clearly help manufacture but hurt food production.D.have an ambiguous effect on the welfare of landowners.E.None of the above.20.If, relative to its trade partners, Gambinia 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 advantage inA.manufactures.B.food.C.both manufactures and food.D.neither manufactures nor food.E.None of the above.21.In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would（劳动者越过国境流入）A.move the point of production along the production possibility curve.B.shift the production possibility curve outward, and increase the production of both goods.C.shift the production possibility curve outward and decrease the production of thelabor-intensive product.D.shift the production possibility curve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 Leontieff Paradox.B.supported the validity of theHeckscher-Ohlin model.ed a two-country and two-product framework.D.demonstrated that in fact countries tend to use different technologies.E.proved that the U.S.'s comparative advantage relied on skilled labor.23.The Case of the Missing Trade refers toA.the 9th 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 than predicted by the Heckscher-Ohlin theory.D.the fact that the Heckscher Ohlin theory predicts much less volume of trade than actually exists.E.None of the above.24.One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that _技术相同__ is (are) identical in all countries.A.factor of production endowmentsB.scale economiesC.factor of production intensitiesD.technologyE.opportunity costs25.As opposed to the Ricardian model of comparative advantage, the assumption 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.countries will benefit from free international trade.C.countries will consume outside their production possibility frontier.parative advantage 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 endowed while the European Union is relatively capital-endowed. According to the Heckscher-Ohlin model,A.European landowners should supportUS-European free trade.B.European capitalists should supportUS-European free trade.C.all capitalists in both countries should support free trade.D.all landowners should support free trade.E.None of the above.27.According to the Heckscher-Ohlin model, if the United State s is richly endowed inhuman-capital relative to Mexico, then as NAFTA increasingly leads to more bilateral free trade between the two countries,A.the United States will find its industrial base sucked into Mexico.B.Mexico will find its relatively highly skilled workers drawn to the United States.C.The wages of highly skilled U.S. workers will be drawn down to Mexican levels.D.The wages of highly skilled Mexican workers will rise to those in the United States.E.The wages of highly skilled Mexican workers will fall to those in the United States. （墨西哥高技术工人工资降低到美国同水平）28.If two countries were very different in their relative factor availabilities（相对要素丰富程度相差很多）, then we would not expect which of the following to be empirically supported?。

Quiz for Chapter 12Ⅰ. Fill the following blanks with the proper word or expression1. Y-( )=CA2、National income equals GNP less ( ),plus ( ),less ( ).3. GNP equals GDP ( ) net receipts of factor income from the rest of the world.4. The national income identity for an open economy is ( ).5. When a country 's exports exceed its imports, we say the country has a current account ( ).6. The current account includes ( )7. Any transaction resulting in a payment to foreigners is entered in the balance of payment account as a ( ).8. In a closed economy, national saving always equals ( ).9.When official reserves increase, this will be recorded in the ( ), with ( )sign.10. When debit is bigger than net decrease of the reserve, the difference will go to the ( ).Ⅱ. True or false1. The balance of payments accounts always balance in practice as they must in theory.( )2. Net unilateral transfers are considered part of the current accounts but not a part of national income .( )3. The GNP a country generates over some time period must equal its national income ,the income earned in that period by its factors of production. ( )4. When you buy a share of Microsoft stock , you are buying neither a good or a service , so your purchase dose not show up in GNP. ( )5. If the government deficit rises and private saving and investment do not change much ,the current account surplus must fall by roughly the same account as the increase in the fiscal deficit. ( )6. We include income on foreign investment in the current account because that income really is compensation for the services provided by foreign investments.( )7. Remember that foreign borrowing may not always be a bad idea :a country that borrows abroad to undertake profitable domestic investment can pay its creditors and still have money left over.( )8. Government agencies including central banks can freely hold foreign reserves and intervene officiallyin exchange market.( )9. When the United States lends abroad, a payment is made to foreigners and the capital account is credited.10. One reason intervention is important is that central banks use it as a way of altering the amount of money in circulation.Ⅲ. Answer the following questions:1.Why account keepers adds the account a statistical discrepancy to the balance of payment?2.The nation of Pecunia had a current account deficit of ＄1 billion and a nonreserve financial account surplusof ＄550 million in 2005.(1)What was the balance of payments of Pecunia in that year? What happened to the country’s net foreignassets?(2)Assume that foreign central banks neither buy nor sell Pecunian assets. How did the Pecunian central bankshad purchased ＄600 million of Pecunian assets in 2005? How would this official intervention show up in the balance of payments accounts?(3)How would your answer to (2) change if you learned that foreign central banks had purchased enter foreignbalance of payments accounts?Ⅳ. Fill the following blanks:China's balance of payment in 2000Quiz for Chapter 13Ⅰ. Fill the following blanks with the proper word or expression1. Changes in exchange rates are described asor .2. Foreign exchange deals sometimes specify a value date farther away than two-days-30 days, 90days, 180 days, or even several years. The exchange rates quoted in such transactions are called3. is the most liquid of assets4. The ease with which the asset can be sold or exchange for goods, we call the character is5. A foreignis a spot sale of a currency combined with a forward repurchase of the currency.6. The foreign exchange market is inwhen deposits of all currencies offer the same expected rate of return.7. The price of one currency in terms of another is called an8. All else equal, ain the expected future exchange rate causes a rise in the current exchange rate.9. is the percentage increase in value, it offers over some time period.10. All else equal, anin the interest paid on deposits of a currency causes that currency to appreciate againstforeign currencies.Ⅱ. True or false1. A rate of appreciation of the dollar against the euro is the rate of depreciation of the euro against dollar.( )2. The exchange rate quoted as the price of foreign currency in terms of domestic currency is called direct quotation. ( )3. all else equal, an appreciation of a country's currency makes its goods cheaper for foreigners. ( )4. The foreign exchange market is in equilibrium when deposits of all currencies offer the same expected rate of return. ( )5. All else equal., When a country's currency depreciated, domestic residents find that imports from abroad are more expensive. ( )6. Central bank is at the center of the foreign exchange market.( )7. A depreciation of the dollar against euro today makes euro deposit less attractive on the condition that expected future dollar/euro rate and interest rates do not change.( )8. all else equal, a decrease of the interest paid on deposit of US dollars causes dollars to appreciate against foreign currency.( )9. New York. is the largest foreign exchange market in the world. ( )10. A fall in the expected future exchange rate causes a fall in the current exchange rate.Ⅲ. Answer the following questions:1. Currently, the spot exchange rate is US$1=SF1.50 and the expected exchange rate for six month is SF1.55. the interest rate is 8% in the US per annum and 10% in the Switzerland per annum. （1）Determine whether interest rate parity is currently holding.（2）If it is not holding, what will happen in the foreign exchange market?.（3）If the expected exchange rate is unchanged, what is the spot rate when foreign exchange rate is inequilibrium?2.Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium ＄/￡exchange rateand its expected future level? Suppose the expected future ＄/￡exchange rate, ＄1.52 per pound, remains constant as Britain’s interest rate rises to 10 percent per year. If the U.S. interest rate also remains constant, what is the new equilibrium ＄/￡exchange rate?Quiz for Chapter 14Ⅰ. Fill the following blanks with the proper word or expression1. M1 includes __________.2. An economy 's money supply is controlled by _________________.3. Three main factors that determine aggregate money demand are4. When money supply equals money demand, we say that the money market is _______________________.5. A rise in the average value of transactions carried out by a household or firm cause its demand for money to.6. is an important phenomenon because it helps explain why exchange rates move so sharply from day to day.7. If the economy is initially at full employment, a permanent increase in the money supply eventually be followed byin the price level.8. Overshooting is a direct consequence of the short-run9. An economy’sis the position it would eventually reach if no new economic shocks occurred during the adjustment to full employment.10. All else equal, a permanent in a country’s money supply causes a proportional long-rundepreciation of its currency against foreign currencies.Ⅱ. True or false1. An increase in real output lowers the interest rate. ( )2. In the short run, a reduction in a country's money supply causes its currency to appreciate in the foreign exchange market. ( )3. All else equal, an increase in a country 's money supply causes a proportional increase in its price level in the long run. ( )3. All else equal, a rise in the interest rate causes the demand for money to fall. ( )4. If there is initially an excess demand of money, the interest rate falls in the short-run. ( )5. A rise in the average value of transactions carried out by a household or firm causes its demand for money to fall. ( )6. Given the price level and out put, an increase in the money supply lowers the interest rate. ( )7. A change in the supply of money has effect on the long-run values of the interest rate or real output. ( )8.The higher the interest rate, the more you sacrifice by holding wealth in the form of money. ( )9. An increase in real output lowers the interest rate, given the price level and the money supply( )10. An economy experiences inflation when its price level is falling. ( )Ⅲ. Answer the following questions:1. What is the short-run effect on the exchange rate when US government increases the money supply? (expectations about future exchange rate are unchanged)2.Please draw a group of pictures to show the time paths of U.S. economic variables after a permanent increase in the U.S. money supply growth rate according to the following:(1)The u.s. decided to increase the money supply growth rate permanently.The vertical axis is money supply and the horizontal axis is time.(2)The interest rate change,. The vertical axis is Dollar interest rate and the horizontal axis is time.(3)The price level change. The vertical axis is U.S price level and the horizontal axis is time.(4)The exchange rate change,. The vertical axis is the Dollar/Euro exchange rate and the horizontal axis is time.Ⅳ. CALCULATIONSuppose that the spot rate is €1 = US$1.2468 －78 and the six-month forward rate is €1 = US$1.2523－33, the interest rate per annum is 4% in the euro zone and 6% in the US. After carrying out interest arbitrage with €5,000,000 borrowed at the above-mentioned rate, please calculate your net interest arbitrage profit ( other costs ignored ).Quiz for Chapter 15Ⅰ. Fill the following blanks with the proper word or expression1. The equation for real interest parity is.2. The long-run relationship between inflation and interest rates is called .3. The equation for absolute PPP is _________________________.4. The equation for relative PPP is _________________________.5. The law of_______________ states that under free competition and in the absence of trade impediments, a good must sell for a single price regardless of where in the world it is sold.6. Equation$/$/()/E US q E P P ∈∈=⨯ shows that at unchanged output prices, nominal depreciation implies real.7. According to Fisher effect, if U.S. inflation were to rise, then U.S. dollar interest rates would_________________.8. _________________is the relative price of two output baskets, while _________________is the relative price of two currencies.9. Transport costs and government trade restrictions make it expensive to move goods between markets located in different countries and therefore weaken the _________________mechanism underlying PPP. 10. refer to those goods and services that can never be traded internationally at a profit.Ⅱ. True or false1. According to monetary approach, a rise in the interest rate on dollar will lead to the depreciation of the dollar in the long run.( )2. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )3. When demand for American products rises, there will be a long-run real depreciation of the dollar. ( )4. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )5. When European output supply increases, there will be an appreciation of the euro. ( )6. Expected real interest rates are the same in different countries when relative PPP is expected to hold. ( )7. Based on the monetary approach, other things equal, a permanent rise in the U.S. money supply causes a proportional long-run appreciation of the dollar against euro. ( )8. At unchanged output prices, nominal depreciation implies real appreciation. ( )9. Departures from PPP may be even greater in the short run than in the long run because many prices in the economy are sticky and take time to adjust fully. ( )10. If all U.S. prices increase by 10% and the dollar depreciates against foreign currencies by 10%, absolute PPP will be satisfied (assuming there are no changes abroad) for any domestic and foreign choices of price level indexes. ( )Ⅲ. Answer the following questions :1. Suppose America’s inflation rate is 6% over one year, but the inflation rate in Italy is 12%. According to relative PPP, what should happen over the year to the dollar ’s exchange rate against the lira?2.How to explain the problems with PPP? Give the reasons.Quiz for Chapter 16Ⅰ. Fill the following blanks with the proper word or expression1. The aggregate demand for an open economy’s output consists of four components:2. The current account balance is determined by two main factors: and3. Equilibrium in the economy as a whole requires equilibrium in theas well as in the4. An temporary increase in the money supply causes aof the domestic currency, of output,and thereforein employment.5. Given a fixed exchange rate, when government demand increases, DD schedule will shift6. A reduction in money demand would shift AA ___________.7. __________ policy works through changes in government spending or taxes.8. If the economy starts at long-run equilibrium, a permanent change in fiscal policy has no net effect on .9. J-curve effects amplify the of exchange rates10. Because a permanent fiscal expansion changes exchange-rate expectations, the effect on output isif the economy stats in long-run equilibrium.Ⅱ. True or false1. If there is a decline in investment demand, the DD schedule will shift to the right. ( )2. The effect of real exchange rate increase on IM is ambiguous. ( )3. A temporary increase in the money supply, which does not alter the long-run expected exchange rate, causes a depreciation of the currency and a rise in output. Temporary fiscal expansion also has the same result. ( )4. Other things equal, a real depreciation of the home currency lowers aggregate demand for home output. ( )5. The DD Schedule shows all exchange rate and output levels at which the outputmarket is in short-run equilibrium. DD Schedule slopes upward. ( )6. A permanent fiscal expansion does not changes exchange-rate expectations. ( )7. Since the effect is the same of that of an increase in G, an increase in T must cause the DD Schedule to shift rightward. ( )8. A rise in R* causes an upward shift of AA. ( )9. Either an increase in the money supply or temporary fiscal ease can be used to maintain full employment. The two polices have no different effects at all. ( )10.If exports and imports adjust gradually to real exchange rate changes, the current account may follow a J-curve pattern after a real currency appreciation, first worsening and then improving. ( )11. The greater the upward shift of the asset market equilibrium schedule, the greater the appreciation of the currency. ( )12. Monetary expansion causes the current account balance to decrease in the short run. ( )13. Expansionary fiscal policy reduces the current account balance. ( )Ⅲ. Answer the following questions:1. A new government is elected and announces that once it is inaugurated, it will increase the money supply. Use the DD-AA model to study the economy’s response to this announcement.2. Please use AA and DD schedules to describe “The adjustment to a permanent increase in the money supply. ” The original point is at full employment.The vertical axis is exchange rate, the horizontal axis is output.3. If an economy does not start out at full employment,is it still true that a permanent change in fiscal policy has no current effect on output? Please use AA and DD schedules to describe it.Quiz for Chapter 17Ⅰ. Fill the following blanks with the proper word or expression1. Any central bank purchase of assets automatically results in an in the domestic money supply.2. The condition of the foreign exchange market equilibrium under a fixed exchange rate is .3. Under a fixed exchange rate, central bankpolicy tools is more effective.4. The expectation of a future devaluation causes ain the home interest rate above the world level.5. The main factor that may lead to imperfect asset substitutability in the foreign exchange market is .6. Between the end of World War II and 1973, was the main reserve currency.7. Under a gold standard, each country fixes the price of its currency in terms of .8. Under a _________, central bank monetary policy tools are powerless to affect the economy’s money supply or its output.9. A system which governments may attempt to moderate exchange rate movements without keeping exchangerates rigidly fixed is____________.10. Half way between the gold standard and a pure reserve currency standard is the __________.Ⅱ. True or false1. Any central bank sale of assets automatically causes the money supply to decline. ( )2. If central banks are not sterilizing and the home country has a balance of payments surplus, any increase in the home central bank’s foreign assets implies an decreased home money supply. ( )3. Under a fixed exchange rate, central bank monetary policy tools are powerful to affect the economy’s money supply. ( )4. The expectation of a future revaluation causes a rise in foreign reserves. ( )5 When domestic and foreign currency bonds are imperfect substitutes, equilibrium in the foreign market requires that the domestic interest rate equal the expected domestic currency return on foreign bonds subtract a risk premium. ( )6. Between the end of World War II and 1973, the exchange rate system was one in which exchange rate between any two currencies were floating. ( )7.Under the reserve currency standard, the center country has to intervene the exchange rate. ( )8. The central bank can negate the money supply effect of intervention through sterilization.( )9. A system of managed floating allows the central bank to retain some ability to control the domestic money supply, but at the cost of greater exchange rate instability.( )10. A world system of fixed exchange rates in which countries peg the prices of their currencies in terms of a reserve currency does not involve a striking asymmetry.()Ⅲ. Answer the following questions:1. Why governments sometimes choose to devalue their currencies?2. How does fiscal expansion affect a country’s output and the central bank’s balance sheet under fixed exchange rate?3. Can you think of reasons why a government might willingly sacrifice some of its ability to use monetary policy so that it can have stable exchange rates?4. Explain why temporary and permanent fiscal expansions do not have different effects under fixed exchange rates, as they do under floating.Quiz for Chapter 18—21Ⅰ. Fill the following blanks with the proper word or expression1. The channels of interdependence depend, in turn, on the monetary and exchange rate arrangements that countries adopt-a set of institutions called the （）.2. In open economies, policymakers are motivated by the goals of internal and external balance. Simply defined, ( )requires the full employment of a country’s resources and domestic price level stability.3. A country is said to be in( ) when the sum of its current and its no reserve capital accounts equals zero, so that the current account balance is financed entirely by international lending without reserve movements.4. The gold standard contains some powerful automatic mechanisms that contribute to the simultaneous achievement of balance of payments equilibrium by all countries .That mechanisms is( ).5. ( ) is one currency that may be freely exchanged for foreign currencies.6、Under the Bretoon Woods system ,( ) or ( )can be used to influence output and thus help the government achieve its internal goal of full employment.7、Fiscal policy is also called ( ),because it alters the level of the economy’s total demand for goods and services.; The accompanying exchange rate adjustment is called ( ), Because it changes the direction of demand ,shifting it between domestic output and imports.8、Bretton Woods system give ( )the leading position in the world economy.9、Bretton Woods system require that other currency should peg with ( )10、Under the fixed rate system, if the exchange rate change, the foreign reserves will ( )11、( ) symmetry and exchange rate as automatic stabilizers are the advantages of floating rate system.12、( ) predict the collapse of the Bretton Woods system.13、The level of ( ) in the European Union is too small to cushion member countries from adverse economic events.14、The ( ) schedule shows the relationship between the monetary efficiency gain and the degree of economic integration.Ⅱ. True or false1. In an open economy, macroeconomic policy has two basic goals, internal balance (full employment with price stability) and external balance (avoiding excessive imbalances in international payments)( )2. The gold standard era starts in 1861 and end in 1914.( )3. The countries with the weak investment opportunities should be net importers of currently available output (and thus have current account surpluses), while countries with the good investment opportunities should be net exporters of current output (and have current account deficits).( )4. Each member of IMF contributed to the Fund an amount of gold equal in value to three-fourth of its quota. The remaining one-fourths of its quota took the form of a contribution of its own national currency. ( )5、Balance of payment crisis became increasingly frequent and violent throughout the 1960 and early 1970s.The events led to the Bretoon Woods system’s collapse.（）6、One interpretation of the Bretoon Woods system’s collapse is that the foreign countries were forced to import US. Inflation through the mechanism to stabilize their price levels and regain internal balance, they had toabandon fixed exchange rates and allow their currency to float.（）7、Speculation on changes in exchange rats could lead to instability in foreign exchange markets . （）8.Under the fixed rate system, the government is required to use foreign reserve to stabilize exchange rate.（）9.The U.S. Federal Reserve played the leading role in determining their owns domestic money supply.（）10.Advocates of floating argued that floating rates would allow each country to choose its own desired long-run inflation rate rather than passively importing the inflation rate established abroad. （）11.The eight original participant in the EMS’s exchange rate mechanism------France, German, Italy, Belgium, Denmark, Ireland, Luxembourg, and the Netherlands. ( )。

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.。

SINGLE CHOICE QUESTIONS（）1. A primary reason why nations conduct international trade is because:a. Some nations prefer to produce one thing while others produce other thingsb. Resources（资源）are not equally distributed（分配）among all trading nations（贸易国）c. Trade enhances opportunities to accumulate（积累）profitsd. Interest rates（利率）are not identical in all trading nations（）2. A main advantage of specialization（专业化）results from:a. Economies of large-scale productionb. The specializing country behaving as a monopoly（垄断者）c. Smaller production runs（运作）resulting in lower unit costsd. High wages paid to foreign workers（）3. International trade forces domestic firms to become more competitive in terms of:a. The introduction of new productsb. Product design and qualityc. Product priced. All of the above（）4.The movement to free international trade is most likely to generate short-term unemployment（失业）in which industries?a. Industries in which there are neither imports（进口）nor exports（出口）b. Import-competing industries（进口竞争行业）c. Industries that sell to domestic and foreign buyersd. Industries that sell to only foreign buyers（）5.How much physical output（实物产出） a worker produces in an hour’s work depends on:a. The worker’s motivation（动力）and skillb. The technology, plant, and equipment in usec. How easy the product is to manufactured. All of the above（）6.Increased foreign competition tends to:a. Intensify（加剧）inflationary pressures（通胀压力）at homeb. Induce（导致）falling output per worker-hour for domestic workersc. Place constraints（限制）on the wages of domestic workersd. Increase profits of domestic import-competing industries（进口竞争部门）（）7.A firm’s __________, relative to that of other firms, is generally regarded as the most important determinant（决定因素）of competitiveness（竞争力）.a. Income levelb. Tastes and preferences（偏好）c. Environmental regulation（环境管制）d. Productivity（生产效率）（）8.Free traders maintain（主张）that an open economy（开放经济）is advantageous in that it provides all of the following except:a. Increased competition for world producersb. A wider selection of products for consumersc. The utilization（利用）of the most efficient production methodsd. Relatively high wage levels for all domestic workers（）9.International trade in goods and services tends to:a. Increase all domestic costs and pricesb. Keep all domestic costs and prices at the same levelc. Lessen（减少）the amount of competition facing home manufacturers（国内生产商）d. Increase the amount of competition facing home manufacturers（）10.A sudden shift（转变）from import tariffs（进口税）to free trade may induce（引起）short-term unemployment in:a. Import-competing industries（进口竞争行业）b. Industries that are only exportersc. Industries that sell domestically as well as exportd. Industries that neither import norexport（）11. A closed economy（封闭经济）is one in which:a. Imports exactly equal exports, so that trade is balanced（贸易平衡）b. Domestic firms invest（投资）in industries overseasc. The home economy is isolated（使分离）from foreign traded. Saving（储蓄）exactly equals investment（投资）at full employment（充分就业）（）12. Relative to countries with low ratios of exports to gross domestic product （国内生产总值，GDP）, countries having high export to gross domestic product ratios are______ vulnerable（易受影响的）to changes in the world market.a. Lessb. Morec. Equallyd. Any of the above（）13.Recent pressures for protectionism（保护主义）in the United States have been motivated（促动，激发）by all of the following except:a. U.S. firms shipping component（零件）production overseasb. High profit levels for American corporationsc. Sluggish（迟缓的，不活跃的）rates of productivity growth in the United Statesd. High unemployment rates among American workersTRUE-FALSE QUESTIONS（）1.Opening the economy to international trade tends to lessen inflationary pressures at home.（）2.The benefits of international trade accrue（增加）in the forms of lower domestic prices, development of less efficient methods and new products, and a greater range of consumptionchoices.（）3. In an open trading system, a country will import those commodities that it produces at relatively low cost while exporting commodities that can be produced at relatively high cost.（）4.Although free trade provides benefits for consumers, it is often argued that import protection should be provided to domestic producers of strategic goods（战略物资）and materials vital（至关重要的）to the nation’s security（安全）.（）5.In the long run, competitiveness depends on an industry’s natural resources（自然资源）, its stock of machinery and equipment, and the skill of its workers in creating goods that people want to buy.（）6.Increased foreign competition tends to increase profits of domestic import-competing companies （进口竞争行业）.。

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》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。

Chapter 1 An Introduction to International TradeMultiple-Choice Questions1) C ountries of the world differ in terms of theirA) g eographic size.B) p opulation size.C) s tandards of living.D) A ll of the above.2) T he difference between a country's Gross National Product (GNP) and its Gross Domesticproduct (GDP) is thatA) G NP refers to production within the nation while GDP refers to production by domesticfactors no matter where they are located.B) G NP is always bigger than GDP.C) G DP refers to production within the nation while GNP refers to production by domesticfactors no matter where they are located.D) T wo of the above are true.3) P er capita GNP is defined as a country's GNP divided by itsA) p opulation.B) l abor force.C) c apitalists.D) N one of the above.4) W hich of the following statements is false?A) R icher countries tend to be found in North America, Western Europe, and Japan.B) C ountries with large populations tend to be rich.C) G rowth of per capita GNP tends to be quite stable about 1.5-3 percent per year inindustrialized countries.D) O ver the past several decades, growth of per capita GNP tends to be higher on averagein industrialized countries than in low or middle-income countries.5) T he ratio of a country's exports to its total output (GNP or GDP)A) i s known as the index of openness.B) p rovides a rough measure of the importance of international trade to that economy.C) i f calculated for the United States would be quite low.D) A ll of the above.6) W hich of the following statements is false?A) B etween 1980 and 2000, the index of openness has risen for most countries.B) S ince 1950, international trade has been growing faster than the growth of world output.C) A country cannot be a leading world exporter without a high index of openness.D) T wo of the above are true.7) B arriers to tradeA) i nclude government policies such as tariffs and quotas.B) h ave been falling with technological improvements in transportation andcommunication.C) h ave risen since World War II as many countries have imposed higher tariffs.D) T wo of the above are true.8) W hich of the following is true?A) M uch of the trade of the European Union (EU) countries is with EU countries.B) I ndustrialized countries tend to trade relatively little and largely with developingcountries.C) D eveloping countries in Africa and South America tend to trade the most and largelywith themselves.D) A ll of the above are true.9) T he leading trading partner of the United States isA) C anada.B) J apan.C) G ermany.D) M exico.10) W hich of the following statements is true?A) C ountries tend to trade extensively with their neighbors.B) T he United States is an important trading partner for many countries.C) T he largest amount of international trade occurs between industrialized countries.D) A ll of the above are true.11) T he most commonly traded product (by value) in recent years has beenA) a utomobiles.B) w heat.C) t elevisions, stereos, and VCRs.D) s teel.12) T he United States tends to exportA) o nly a narrow range of products such as wheat.B) a wide set of products, primarily manufactured goods.C) v ery little.D) N one of the above.13) J apanese exports are heavily concentrated inA) a gricultural products such as rice.B) n atural resource products such as coal.C) m anufactured products including motor vehicles.D) B oth A and C.14) T he types of goods Japan exports and imports appear to be well explained byA) J apanese endowments of factors of production (e.g. land, labor, capital, naturalresources).B) h igh and rising Japanese tariffs.C) a dvertising and other sales promotion efforts.D) A ll of the above.15) I nternational tradeA) a ccounts for more than 90 percent of world economic activity.B) i s a relatively small (about 30 percent of world output) but growing part of worldeconomic activity.C) h as been growing at about the same rate as the world economy.D) B oth A and C.True or False Questions1) A country's GNP is always larger than its GDP.2) A country's index of openness can never exceed 100 in value.3) G rowth in per capita GNP in developing countries has tended to be much more variable inrecent years than per capita GNP growth rates in industrialized countries.4) I f a country is industrialized then prolonged periods of negative growth in GNP per capitashould not be a cause for concern.5) B etween 1980 and 2000, virtually all countries have become more open.6) L arge countries tend to be more open than small countries.7) A s measured by the index of openness, the United States is relatively closed, and yet, it wasthe world's largest exporter in 2000.8) T ravel services include purchases of items by residents of one country when they travel toanother country.9) C ountries have trade surpluses when they export more than they import.10) M ost of world trade is in the form of manufactured consumer goods such as TVs, stereos,VCRs, and running shoes.。

international（国际经济学）课后习题及答案----------------------- Page 1-----------------------Review Questions and Condensed Answers forInternational Trade TheoriesChapter 1 World Trade and the National EconomyReview Questions::::1( What features distinguish international from domestic transactions?2( What can you say about the growth of world trade in both nominal and real terms? Was itfaster than the growth of output?3( Evaluate the statement,” the United States is a closed economy, hence foreign trade is ofno consequence to it.”4( Distinguish between export industries, import-competing industries and nontraded goods.Give examples of each.5( Using the figure in table 1-3, what can you say about the trade structure of the USA andJapan.Condensed Answers to Review Questions::::1. The text discusses ways that international transactions differfrom domestic ones.i. International trade requires that transactions be conductedbetween twocurrencies mediated by an exchange rate. Domestic transactions are conductedin a single currency.ii. Commercial policies that operate to restrict international transactions cannot, ingeneral, be imposed on domestic trade. Such policies include tariffs, quotas,voluntary export restraints, export subsidies, and exchange controls.iii. Countries pursue different domestic macroeconomic policieswhich result indivergent rates of economic growth, inflation, and unemployment.iv. More statistical data exist on the nature, volume, and value of internationaltransactions than exist in domestic trade.v. Factors of production are more mobile domestically than internationally.vi. Countries exhibit different demand patterns, sales techniques,and marketingrequirements. Many of these are due to culture and custom. Someresult fromdifferences in government regulations. Included here are health, safety,environmental, and technical rules.2. The real volume of world exports grew at an annual rate of more than 6 percent between1950 and 2000. Global output grew at an annual rate of 4 percent. Export growth inexcess of output growth reflects the increased openness to trade of many countries.3. The United States is a relatively closed economy since the share of trade in GDP issmaller than that of most other industrial nations. In 2000, U.S. exports of goods andservices were 11 percent of GDP. The U.S. economy is less dependent on the foreignsector than other major economies, but to say that foreign trade is of no consequence is anexaggeration. The U.S. economy has become increasingly open and, therefore, moreimpacted by trade developments over time. This trend is likely to continue. Curtailingimports would, for example, have a big effect on consumers' ability to buy some goods----------------------- Page 2-----------------------(e.g. tropical products) and would raise the prices of others. The absence of certain keycommodities and material inputs would greatly disrupt areas of U.S. industry.4. a. Export industries send a substantial share of their output abroad. Ratios ofexports to GDP are much higher than the average ratio for all industries. Netexporting industries are those for which exports exceed imports. U.S. netexporting industries include farm products, chemicals, certain types of machinery,and aerospace products.b. Import-competing industries are domestic industries that sharethe domesticmarket with a substantial import presence. These activities haveratios ofimports to GDP that are much higher than the average ratio for all industries.U.S. import-competing industries include fuels, automobiles,clothing, footwear,and iron and steel.c. Nontraded goods are those which, because of their nature and characteristics, arenot easily exported or imported. Examples are hair-dressing, movie theaters,meals, construction activity, and health-care.5. Table 1.3 contains figures on the trade structure of the U.S. and Japan. The U.S. is a netexporter of food, certain ores, chemicals, and other machinery and transport equipment,and is a net importer of raw materials, mining products, fuels, nonferrous metals, iron andsteel, semimanufactures, office and telecommunications equipment, automotive products,textiles and clothing, and other consumer goods. Japan is a net exporter of iron and steel,chemicals, semimanufactures, office and telecommunications equipment, automotiveproducts, other machinery and transport equipment, and other consumer goods. Importsexceed exports in food, raw materials, and textiles and clothing.----------------------- Page 3-----------------------Chapter 2 Why Nations TradeReview Questions::::1( a. In what sense are the cost data of footnote 4 related to the figures of scheme 1?b. Based on the figures of footnote 4, determine the:Direction of trade once it develops.Limits to mutually beneficial trade.Limits to a sustainable exchange trade.2. Evaluate the following statements:a. In international trade, domestic cost ratios determine the limits of mutually beneficial trade,whereas demand considerations show where, within these limits, the actual exchange ratio will lie.b. Comparative advantage is a theoretical concept. It cannot be used to explain any real-worldphenomena.c. The opening up of trade raises the price of export goods; hence trade is inflationary.d. The concept of absolute advantage offers explainations for East Germany’s high unemploymentrates in the 1990s.3. a. Use the theory of comparative advantage to explain why it pays for:The USA to export grains and import oil.Russia to export oil and import grains.b. Why does the popular press believe that grain exports are inflnationary? What is wrongwith this porposition?Condensed Answers to Review Questions:1. a. Scheme 1 is based on labor productivity comparisons, while Footnote 4presentsper unit cost data. Production cost ratios are inversely related to productivitymeasures.b. i. Textiles will be exported from the U.K. and wheat from the U.S.ii. The U.S. will trade only if one yard of textiles costs less than3 bushels ofwheat. The U.K. will trade only if 1 yard of textiles can be exchangedfor more than 2 bushels of wheat.iii. The value of the ? must be between $1 and $1.502. a. Consider Figure 2.2. The domestic cost ratios define limits of mutually beneficialtrade. Within the region of mutually beneficial trade the actual exchange rate willbe determined by the relative intensity of each country's demand for the othercountry's product. A full analysis requires an understanding of reciprocal demandcurves, but the following general principle might help heuristically. If the Britishare more eager to buy U.S. wheat than the Americans are eager for British textiles,the exchange ratio falls close to the U.K. domestic cost ratio and the U.S. can beviewed as capturing a greater share of the gains from trade.b. Since the real world does not conform to the convenienttwo-country, two-goodassumptions, the simple theoretical model is not immediately applicable.However, we can generalize the model to many goods and many nations. Thefundamental truth remains. Countries export those goods in which their relativeproduction costs are lower and import those goods for which the relative costs arehigher.----------------------- Page 4-----------------------c. While trade tends to raise the prices of exportables in the domestic economy, theeffect of trade is to lower the average price level of all goods. Trade givesconsumers an opportunity to consume at lower world prices. Many goods will becheaper when purchased from foreign supply sources. Trade also conveysprocompetitive effects, stimulates the adoption of new technologies, and allowsfirms to achieve efficient scale production levels. Thus, trade is anti-inflationary.d. The reunification of the Germany economy in 1990 was undertaken on the basisthat a unit of the deutschmark, the West German currency, should be equal in valueto a unit of the ostmark, the East German currency. At this exchange rate, goodsproduced in East Germany were almost universally more expensive to producethan their counterparts in the West. Labor productivity in East Germanmanufacturing was found to be about 35% of the West German level. Underthese conditions the East German manufacturing sector collapsed. Investors werereluctant to purchase East German factories and large scale closures and dismissalsresulted.3. a. The U.S. enjoys a comparative advantage in grains. It also produces oil, but will gain byspecializing in grain production and using proceeds of exported agriculturalproducts to purchase oil from nations that produce oil relatively more efficiently.Russia is relatively more efficient in the production of oil and will gain bypurchasing grain from the U.S. in exchange for oil.b. The popular press asserts that by exporting grain from the U.S. (say to the former U R)we are lowering the domestic supply of grain and raising the domestic U.S. price of grain. Sincegrain is an important ingredient in many food products, grain exports are believed to increase theprice of those products. However, the price of grain is determined in world markets. U.S.exports alone cannot permanently raise the domestic U.S. price. If the domestic U.S. grainpricerose above the world price, the U.S. would be a net importer of grains and the domestic price wouldfall.----------------------- Page 5-----------------------Chapter 3 The Commodity Composition of TradeReview Questions::::1( Does the factor proportions theory provide a good explanation of intraindustry trade? Ifnot, can you outline an alternative explaination for the growing phenomenon?2( Explain the dynamic nature of comparative advantage using Japan’s experience as anexample.3( Once the United States acquires a comparative advantage in jet aircraft production it canbe sure of a dominant position in the global market forever. Do you agree with thisstatement? Explain.Condensed Answers to Review Questions1. The factor proportions theory is better suited to explain interindustry trade, or the exchangebetween countries of totally different commodities, than intraindustry trade, which is thetwo-way trade of similar commodities. The growth of intraindustry trade is greatest inimperfectly competitive industries characterized by economies of scale. Here, scaleeconomies force firms in each industry to specialize in a narrow range of products withineach industry to achieve efficient scale operations. Intraindustry specialization combinedwith diverse consumer tastes gives rise to two-way trade within the same industryclassification.2. Japan's comparative advantage in the immediate post-war period was in labor intensivegoods. The high level of saving and investment transformed Japan into a relatively capitalabundant country. Its advantage in the labor-intensive industries was lost as wages rose.Moreover, Japan increased its technological capability through high spending on R&D.Now Japan's advantage lies in the production of high-tech, capital intensive goods similar tothe U.S. This in large part explains the increasing trade friction between the twocountries.3. Once the U.S. acquires a comparative advantage in jet aircraft, it is likely to enjoy a dominantposition in the global marketplace for years, but not forever. Jet aircraft production is characterizedby huge economies of scale due largely to research and development costs. High capitalrequirements and scale economies pose large entry barriers. It is extremely difficult for a countryto enter into aircraft production once the U.S. has the lead. The new firm would initially have asmall market share and would be unable to compete on a cost basis. The new market entrant wouldrequire considerable government support and encouragement. This was the case with the EuropeanAirbus.----------------------- Page 6-----------------------Chapter 4 Protection of Domestic Industries: The TariffReview Questions::::1( A tariff on textiles is equivalent to a tax on consumers and a subsidy to the textileproducers and workers.2( Explain the concept of effective rate of protection.a. What does the effective rate on final goods depend upon and how?b. In what way does the effective rate analysis help to illuminate these policy issues:Deepening of production in LDCsEscalation of tariff rates by degree of processing in industrial countries3. A tariff lowers the real income of the country, while at the same time it distributes income fromconsumers to the governments and to the import-competing industry.Condensed Answers to Review Questions:1. The effect of a tariff is comparable to the combined effects of a tax on consumers and a subsidy toproducers. Using Figure 4.3, one can show a tariff results in a transfer of resources from theconsumers (who lose P P fd ) to the producers (who gain P P ec). With a non-prohibitive tariff, the2 3 2 3government will also gain revenue efmn. Whether the two schemes are equivalent depends on theexact nature of the tax and subsidy scheme.2. a. The effective rate of protection measures the percentage increase in domesticvalue added per unit of output made possible by tariffs on the output and onmaterial inputs. Determinants of the effective rate include thetariff on the finalproduct, tariffs on the imported material inputs, and the free trade value added perunit of output which is influenced by intermediate input coefficients. Effectiverates are positively related to the tariff on the final product and negatively related toboth tariffs on imported inputs and the free trade value added. A derivation ofthe formula appears in footnote 10, and footnote 12 interprets that formula.b. "Deepening" of production in LDCs involves import substitution industrializationpolicy. A final assembly plant is given a protective tariff and imported inputs areaccorded duty free treatment. As a second stage, the LDC begins to deepenproduction by manufacturing inputs and according them protection. By imposingtariffs on imported inputs, the LDC is reducing effective protection for the finalgood.Because of relatively high rates of protection on finished goods and low protectionon unfinished goods and raw materials, effective tariff rates in developed countriesmay be as much as double their nominal counterparts. Developing countriesmaintain that such tariff structures fatally harm their efforts to increase exports offinished manufactures.3. Again using Figure4.3, the loss in real income is shown by triangles cen and mfd.Redistribution has been given in 8a.----------------------- Page 7-----------------------Chapter 5 Nontariff Barriers (NTBs) to TradeReview Question::::Suppose the USA steel industry is seeking protection from foreign imports. Compare andcontrast the following measures of restricting steel industries: a tariff, a quota, and voluntaryexport restraints.Condensed Answers to Review Question:There are a variety of ways in which a tariff may be considered to be less harmful than an equivalentquota:i. The revenue effect. Tariffs provide revenue. Quotas do not automatically providerevenue. Under a quota, revenue accrues to holders of import licenses.Depending on the quota scheme, licenses may be held by domestic importers, foreign exporters, foreign governments, or domestic officialswho may use them to encourage bribery. Only through auctioning or selling licenses can the government capture quota rents.ii. Performance under demand and supply changes. Any amount of imports can enterunder a tariff, but with a quota import volumes are fixed. When demandgrows, or there is a shortfall in supply, the quota does not permit a quantityadjustment. The domestic price can depart significantly from the worldprice. Under a tariff, the domestic price cannot rise above the worldprice by more than the tariff rate. Thus, a tariff is less harmful than aquota.iii. Impact on Exporters. When a tariff is levied on an imported good it is usually rebatedwhen the good is exported. The same is not true for a quota. Quotas maytherefore be more harmful to export performance.iv. Curbing monopoly power. Quotas curtail monopoly power less than an equivalent tariff.v. Terms of Trade Effects. Quotas provide no incentive for exporting nations to absorb partof the price increase; tariffs do if the exporting nation wishes to retainmarket share.vi. Quality Upgrading. Quotas give an incentive for the exporting country to engage in qualityupgrading. Ad valorem tariffs do not provide an incentive for this behavior but specific duties do.VERs share all of the undesirable effects of quotas. When the exporter does the restricting, there isno opportunity to sell import licenses. Quota rents accrue toforeign exporters orgovernments under a VER. Therefore, VERs are more costly to society than anequivalent quota with licenses sold or a tariff. Quantitative restrictions like VERsare discriminatory. VERs are also hard to monitor. Since shipments from thirdparty countries are unrestricted, transshipment throughnonrestricted countries is amajor problem. One advantage of VERs is they do not invite retaliation sincethey are profitable to foreign exporters and governments.Tariffs, quotas and VERs may be equivalent in terms of effects on the domestic price and thevolumeof imports. This may be shown using diagram 5-1. However, there are important differencesdiscussed in 1a. above.----------------------- Page 8-----------------------Chapter 6 International and Regional Trade Organizations Among Developed CountriesReview Questions::::1. Explain the following terms:Trade creation of a customs union.Trade diversion of a customs union.2.What are the conflicts between the WTO and the environmental movement?Condensed Answers to Review Questions:1. Trade creation refers to the replacement of high cost production in each member by importsfrom another member. This effect is favorable to world welfare. Tradediversion is the diversion of trade from a nonmember to a higher cost member.This is unfavorable because it reduces worldwide resource allocative efficiency(See Figure 4-8).The basic approach to calculating welfare effects associated with customs union formation is toconstruct hypothetical estimates of what member country trade patterns wouldhave been in the absence of integration, comparing these with actual trade flows,and attributing any difference to integration. Effects ofintegration can be isolatedby using trade flow data pertaining to nonmember "normalizer" countries over thesame period to suggest what trade patterns would have been expected for memberswithout integration. Assume, in the absence of integration, both total (internalplus external) and external member imports would have grown at the same rates asthe corresponding imports in the normalizer. The normalizer's external importsrefer to its imports from third countries (i.e. intra-trade is excluded). Thenormalizer's internal imports are imports of normalizer countries from each other(e.g. intra-trade). The preintegration member country total import level ismultiplied by the corresponding normalizer import growth rate to yield an estimateof hypothetical total imports without integration. When compared with actualtotal imports, an estimate of trade creation is obtained. Trade diversion isestimated by multiplying the member country preintegration external import levelby the normalizer's rate of change of external imports to yield hypothetical membercountry external imports. The excess of hypothetical over actual external importsconstitutes trade diversion. The European Union (EU) is a customs unioncomprised of 15 West European countries.2. WTO rules often conflict with both international environmental agreements and nationalenvironmental laws. For example, a 1991 GATT panel upheld a Mexican challenge to aU.S. law banning importation of tuna caught indolphin-killing purse-seine nets.GATT/WTO provisions are concerned with products and not production methods.----------------------- Page 9-----------------------Chapter 7 International Mobility of Productive FactorsReview Question::::What is the meaning of DFI? List some of the factors that induce companies to invest abroad.Condensed Answers to Review Question:Direct Foreign Investment refers to international capital movement that gives a company controlover a foreign subsidiary. It may be the purchase of an existing company, a substantial part of itsshares, or the establishment of a new enterprise. It should be contrasted with portfolio investmentthat gives, by and large, no control over foreign assets.The motives are diverse and any particular investment may involve one or more of the followingi. investment in extractive industries to secure raw material supplies;ii. investment in manufacturing industry to take advantage of cheaper foreign labor;iii. to locate production close to foreign markets and avoid transportation costs;iv. to take advantage of incentives offered by host countries;v. to circumvent tariff barriers;vi. changes in the exchange values of currencies; andvii. marketing considerations.。

Multiple-Choice Questions Ch.2（已学，可参考）1.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. mostc. somed. none4.The commodity in which the nation has the smallest absolute disadvantage isthe commodityof its:a. absolute disadvantageb. absolute advantagec. comparative disadvantaged. comparative advantage5.If in a two-nation (A and B), two-commodity (X and Y) world, it isestablished that nationA has a comparative advantage in commodity X, then nationB must have:a. an absolute advantage in commodity Yb. an absolute disadvantage in commodity Yc. a comparative disadvantage in commodity Yd. a comparative advantage in commodity Y6.If with one hour of labor time nation A can produce either 3X or 3Y whilenation B canproduce 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 Yc. 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 Bd. all of the above8. With reference to the statement in Question 6, if 3X is exchanged for 3Y:a. nation A gains 2Xb. nation B gains 6Yc. nation A gains 3Yd. nation B gains 3Y9.With reference to the statement of Question 6, the range of mutuallybeneficial tradebetween nation A and B is:a. 3Y < 3X < 5Yb. 5Y < 3X < 9Yc. 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 nationsd. 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 slopedb. the combined supply for each commodity by the two nations is rising stepwisec.the equilibrium relative commodity price for each commodity with tradeis given by theintersection of the demand and supply of each commodity by the two nationsd. all of the above13. A difference in relative commodity prices between two nations can be based upon adifference in:a. factor endowmentsb. technologyc. tastesd. 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 tradeb. 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 empiricallya. verifiedb. rejectedc. not testedd. tested but the results were inconclusiveMultiple-Choice Questions ch.5（已学，可参考）1. The H-O model extends the classical trade model by:a. explaining the basis for comparative advantageb. examining the effect of trade on factor pricesc. both a and bd. neither a nor b2. Which is not an assumption of the H-O modela. the same technology in both nationsb. constant returns to scalec. 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 Xc. 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 commoditiesb. 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 ratiod. lower r/w7. A difference in relative commodity prices between nations can be based ona difference in:a. technologyb. factor endowmentsc. tastesd. all of the above8. In the H-O model, international trade is based mostly on a difference in:a. technologyb. factor endowmentsc. economies of scaled. tastes9. According to the H-O-S model, trade reduces international differences in:a. relative but not absolute factor pricesb. absolute but not relative factor pricesc. both relative and absolute factor pricesd. neither relative nor absolute factor prices10. According to the H-O-S model, international trade will:a. reduce international differences in per capita incomesb. increases international differences in per capita incomesc. may increase or reduce international differences in per capita incomesd. 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 nationsd. all of the above12. The H-O model is a simplification of the a truly general equilibrium modelbecause it deals with:a. two nationsb. two commoditiesc. two factors of productiond. 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 reservationsc. 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 factorsMultiple-Choice Questions Ch. 6: （已学，可参考）1. Relaxing the assumptions on which the Heckscher-Ohlin theory rests:a. leads to rejection of the theoryb. leaves the theory unaffectedc. requires complementary trade theoriesd. any of the above.1.Which of the following assumptions of the Heckscher-Ohlin theory, whenrelaxed, leavethe theory unaffected?a. Two nations, two commodities, and two factorsb. both nations use the same technologyc. the same commodity is L-intensive in both nationsd. all of the above2.Which of the following assumptions of the Heckscher-Ohlin theory, whenrelaxed,require new trade theories?a. Economies of scaleb. incomplete specializationc. similar tastes in both nationsd. the existence of transportation costs3.International trade can be based on economies of scale even if both nationshave identical:a. factor endowmentsc. technologyd. all of the above5. A great deal of international trade:a. is intra-industry tradeb. involves differentiated productsc. is based on monopolistic competitiond. 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 goodsd. all of the above4.The theory that a nation exports those products for which a large domesticmarket existswas advanced by:a. Linderb. Vernonc. Leontiefd. Ohlin8. Intra-industry trade takes place:a. because products are homogeneousb. in order to take advantage of economies of scalec. because perfect competition is the prevalent form of market organizationd. all of the above1.If a nation exports twice as much of a differentiated product that it imports,its intra-industry (T) index is equal to:a. 1.00b. 0.75d. 0.2510. Trade based on technological gaps is closely related to:a. the H-O theoryb. the product-cycle theoryc. Linder's theoryd. all of the above11. Which of the following statements is true with regard to the product-cycle theory?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 lessadvanced countriesd. all of the above12. Transport costs:a. increase the price in the importing countryb. reduces the price in the exporting countryc. both of the aboved. neither a nor b.13. Transport costs can be analyzed:a. with demand and supply curvesb. production frontiersc. offer curvesd. 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 aboved. neither a nor b.Multiple-Choice Questions Ch. 7（已学，可参考）1. Dynamic factors in trade theory refer to changes in:a. factor endowmentsb. technologyc. tastesd. 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 unchangedd. 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 commodityb. 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 commodityb. 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 commodityc. reduces the relative price of the L-intensive commodityd. any of the above6. Technical progress that increases the productivity of L proportionately more than theproductivity 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 onlyd. 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. increases the volume of traded. all of the above10. If, at unchanged terms of trade, a nation wants to trade more after growth, then thenation's terms of trade can be expected to:a. deteriorateb. improvec. remain unchangedd. any of the above11. A proportionately greater increase in the nation's supply of labor than of capital is likelyto result in a deterioration in the nation's terms of trade if the nation exports:a. the K-intensive commodityb. 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 traded. all of the above14. An increase in tastes for the import commodity in both nations:a. reduces the volume of tradeb. 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:a. will reduce the terms of trade of Nation Ab. will increase the terms of trade of Nation Ad. any of the aboveMultiple-choice Questions Ch.8（已学，可参考）1. Which of the following statements is incorrect?a.An ad valorem tariff is expressed as a percentage of the value of thetradedcommodityb. 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. Constitutiond. 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 commodityb.whose consumers will pay a price that exceeds the world price by theamount of thetariffd. 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 increased. none of the above4.The increase in producer surplus when a small nation imposes a tariff ismeasured by thearea:a. to the left of the supply curve between the commodity price with and without thetariffb. under the supply curve between the quantity produced with andc. under the demand curve between the commodity price with and without the tariffd. none of the above.5. If a small nation increases the tariff on its import commodity:a. the rent of domestic producers of the commodity increasesb. the protection cost of the tariff decreasesc. the deadweight loss decreasesd. all of the above6. Which of the following statements is incorrect with respect to the rate of effectiveprotection?a. for given values of ai and ti, g is larger the greater is tb. for a given value of t and ti, g is larger the greater is a ic. g exceeds, is equal to or is smaller than t, as t i is smaller than, is equalto or islarger than td. when a i t i exceeds t, the rate of effective protection is positive7. With a i=50%, t i=0, and t=20%, g is:a. 40%b. 20%c. 80%d. 08. The imposition of an import tariff by a small nation:a. increases the relative price of the import commodity for domestic producers andconsumersb.reduces the relative price of the import commodity for domesticproducers andconsumersc. increases the relative price of the import commodity for the nation as a wholed. any of the above is possible9. The imposition of an import tariff by a small nation:a. increases the nation's welfareb. reduces the nation's welfarec. leaves the nation's welfare unchangedd. any of the above is possible10. According to the Stolper-Samuelson theorem, the imposition of a tariff by a nation:a. increases the real return of the nation's abundant factorb. increases the real return of the nation's scarce factorc. reduces the real return of the nation's scarce factord. any of the above is possible11. The imposition of an import tariff by a nation results in:a. an increase in relative price of the nation's import commodityb. an increase in the nation's production of its importable commodityc. reduces the real return of the nation's abundant factord. all of the above12. The imposition of an import tariff by a nation can be represented by a rotation of the:a. nation's offer curve away from the axis measuring the commodity of its comparativeadvantageb.the nation's offer curve toward the axis measuring the commodity of itscomparativeadvantagec.the other nation's offer curve toward the axis measuring the commodityof itscomparative advantaged.the other nation's offer curve away from the axis measuring thecommodity of itscomparative advantage13. The imposition of an import tariff by a large nation:a. increases the nation's terms of tradec. may increase or reduce the nation's welfared. all of the above14. The imposition of an optimum tariff by a large nation:a. improves its terms of tradeb. reduces the volume of tradec. increases the nation's welfared. all of the above15. The optimum tariff for a small nation is:a. 100%b. 50%c. 0d. depends on elasticitiesMultiple-choice Questions for Ch. 13（已学，可参考）1. Which of the following is false?a. A credit transaction leads to a payment from foreignersb. A debit transaction leads to a payment to foreignersc. A credit transaction is entered with a negative signd. Double-entry bookkeeping refers to each transaction entered twice.2. Which of the following is a debit?a. The export of goodsb. The export of servicesc. Unilateral transfers given to foreignersd. Capital inflows3. Capital inflows:a. refer to an increase in foreign assets in the nationb. refer to a reduction in the nation's assets abroadc. lead to a payment from foreignersd. all of the above4. When a U.S. firm imports goods to be paid in three months the U.S. credits:a. the current accountb. unilateral transfersc. capitald. official reserves5.The receipt of an interest payment on a loan made by a U.S. commercialbank to a foreignresident is entered in the U.S. balance of payments as a:a. credit in the capital accountb. credit in the current accountc. credit in official reservesd. debit in unilateral transfers6. The payment of a dividend by an American company to a foreign stockholder represents:a. a debit in the U.S. capital accountb. a credit in the U.S. capital accountc. a credit in the U.S. official reserve accountd. a debit in the U.S. current account7 .When a U.S. firm imports a good from England a pays for it by drawing on its poundsterling balances in a London Bank, the U.S. debits its current account and credits its:a. official reserve accountb. unilateral transfers accountc. services in its current accountd. capital account8. When the U.S. ships food aid to a developing nation, the U.S. debits:a. unilateral transfersb. servicesc. capitald. official reserves9. When the resident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds ina U.S. bank, the U.S.:a. credits capital for (1) and debits capital for (2)b. credits the current account and debits capitalc. debits capital and credits official reservesd. debits capital for (1) and credits capital for (2)-126-1.When a U.S. resident (1) purchases a foreign treasury bill and pays by (2)drawing down hisbank balances abroad:a. debits short-term capital and credits official reservesb. debits capital for (1) and credits capital for (2)c. debits official reserves and credits capitald. credits short-term capital and debits official reserves11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New Yorkbank represents a:a. capital inflowb. capital outflowc. outflow of official reservesd. debit in the current account11. Which is not an official reserve asset of the U.S.?a. U.S. holdings of Special Drawing Rightsb. The U.S. reserve position in the International Monetary Fundc. Foreign official holdings of U.S. dollarsd. Official holdings of foreign currencies by U.S. monetary authorities13. The capital account of the U.S. includes:a. the change in U.S. assets abroad and foreign assets in the U.S.b. the change in U.S. assets abroad and foreign assets in the U.S., other than officialreserve assetsc. all financial assetsd. all but current account transactions14. Accommodating items are:b. the items below the linec. needed to balance international transactionsd. all of the above15. Which of the following is false?a. a net debit balance in the current and capital accounts measures the surplus in thenation's balance of paymentsb. a balance of payments deficit must be settled by a net credit in the official reserveaccountb.a deficit in the balance of payments can be measured by the excess ofcredits overdebits in the official reserve accountd. a net debit balance in the official reserve account refers to a surplus。

国际经济学英文版上册第八版章节练习第五章International Economics, 8e (Krugman)Chapter 5 The Standard Trade Model1) The concept "terms of trade" meansA) the amount of exports sold by a country、B) the price conditions bargained for in international markets、C) the price of a country's exports divided by the price of its imports、D) the quantities of imports received in free trade、E) None of the above、Answer: C2) A country cannot produce a mix of products with a higher value than whereA) the isovalue line intersects the production possibility frontier、B) the isovalue line is tangent to the production possibility frontier、C) the isovalue line is above the production possibility frontier、D) the isovalue line is below the production possibility frontier、E) the isovalue line is tangent with the indifference curve、Answer: B3) Tastes of individuals are represented byA) the production possibility frontier、B) the isovalue line、C) the indifference curve、D) the production function、E) None of the above、Answer: C4) If P C/P F were to increase in the international marketplace, thenA) all countries would be better off、B) the terms of trade of cloth exporters improve、C) the terms of trade of food exporters improve、D) the terms of trade of all countries improve、E) None of the above、Answer: B5) If P C/P F were to increase,A) the cloth exporter would increase the quantity of cloth exports、B) the cloth exporter would increase the quantity of cloth produced、C) the food exporter would increase the quantity of food exports、D) Both A and C、E) None of the above、Answer: B6) If a small country were to levy a tariff on its imports then this wouldA) have no effect on that country's economic welfare、B) increase the country's economic welfare、C) decrease the country's economic welfare、D) change the terms of trade、E) None of the above、Answer: C7) Suppose now that Home experiences growth strongly biased toward its export, cloth,A) this will tend to worsen Home's terms of trade、B) this will tend to improve Home's terms of trade、C) this will tend to worsen Foreign's terms of trade、D) this will have no effect on Foreign's terms of trade、E) None of the above、Answer: A8) Suppose that Home is a "small country," and it experiences growth strongly biased toward its export, clothA) this will tend to worsen Home's terms of tradeB) this will tend to improve Home's terms of tradeC) this will tend to worsen Foreign's terms of tradeD) this will have no effect on Foreign's terms of tradeE) None of the aboveAnswer: D9) When the production possibility frontier shifts out relatively more in one direction, we haveA) biased growth、B) unbiased growth、C) immiserizing growth、D) balanced growth、E) imbalanced growth、Answer: D10) Export-biased growth in Country H willA) improve the terms of trade of Country H、B) trigger anti-bias regulations of the WTO、C) worsen the terms of trade of Country F (the trade partner)、D) improve the terms of trade of Country F、E) decrease economic welfare in Country H、Answer: D11) If the poor USAID recipient countries have a higher marginal propensity to consume each and every productthan does the United States, then such aid willA) worsen the U.S. terms of trade、B) improve the U.S. terms of trade、C) leave the world terms of trade unaffected、D) worsen the terms of trade of both donor and recipient countries、E) None of the above、Answer: B12) If, beginning from a free trade equilibrium, the (net barter) terms of trade improve for a country, then it willA) increase production of its import competing good、B) increase consumption of its export good、C) increase the quantity of its imports、D) experience an export-biased shift in its production possibility frontier、E) None of the above、Answer: C13) After WWI, Germany was forced to make large reparations-transfers of real income- to France、If the marginal propensity to consume was equal in both countries, and if France's demand was biased toward food (relative to Germany's demand pattern) then we would expect to findA) the world's relative price for food remains unchanged、B) the world's relative price for food increase、C) the world's relative price for food decrease、D) the world relative price for both food and non-food rise、E) None of the above、Answer: B14) During the 19th Century, economic growth of the major trading countries was biased toward manufacturesand away from food、The less developed countries of that time were net exporters of food、From this information, we would expect to have observedA) falling terms of trade for the less developed countries、B) improving (rising) terms of trade for the less developed countries、C) no change at all in the terms of trade of the less developed countries、D) a decrease in the relative price of food、E) None of the above、Answer: B15) Immiserizing growth could occur toA) a poor country experiencing export-biased economic growth、B) a poor country experiencing import-biased economic growth、C) a poor country experiencing growth in its non-traded sector、D) a poor country experiencing capital-intensive biased growth、E) None of the above、Answer: A。