国际经济学课后练习题答案(下册)

CHAPTER 14MONEY, INTEREST RATES, AND EXCHANGE RATESANSWERS TO TEXTBOOK PROBLEMS1. A reduction in real money demand has the same effects as an increase in thenominal money supply. In figure 14.1, the reduction in money demand isdepicted as a backward shift in the money demand schedule from L1 to L2. The immediate effect of this is a depreciation of the exchange rate from E1 to E2, if the reduction in money demand is temporary, or a depreciation to E3if thereduction is permanent. The larger impact effect of a permanent reduction in money demand arises because this change also affects the future exchange rate expected in the foreign exchange market. In the long run, the price level rises to bring the real money supply into line with real money demand, leaving all relative prices, output, and the nominal interest rate the same and depreciating the domestic currency in proportion to the fall in real money demand. The long-run level of real balances is (M/P2), a level where the interest rate in thelong-run equals its initial value. The dynamics of adjustment to a permanent reduction in money demand are from the initial point 1 in the diagram, where the exchange rate is E1, immediately to point 2, where the exchange rate is E3and then, as the price level falls over time, to the new long-run position at point 3, with an exchange rate of E4.2. A fall in a country's population would reduce money demand, all else equal,since a smaller population would undertake fewer transactions and thus demand less money. This effect would probably be more pronounced if the fall in the population were due to a fall in the number of households rather than a fall in the average size of a household since a fall in the average size of households implies a population decline due to fewer children who have a relatively small transactions demand for money compared to adults. The effect on the aggregate money demand function depends upon no change in income commensurate with the change in population -- else, the change in incomewould serve as a proxy for the change in population with no effect on the aggregate money demand function.R(M/P E 1E 4E 2E 3E(M/PFigure 14-13. Equation 14-4 is M s /P = L(R,Y). The velocity of money, V = Y/(M/P). Thus,when there is equilibrium in the money market such that money demand equals money supply, V = Y/L(R,Y). When R increases, L(R,Y) falls and thus velocity rises. When Y increases, L(R,Y) rises by a smaller amount (since the elasticity of aggregate money demand with respect to real output is less than one) and the fraction Y/L(R,Y) rises. Thus, velocity rises with either an increase in the interest rate or an increase in income. Since an increase in interest rates as well as an increase in income cause the exchange rate to appreciate, an increase in velocity is associated with an appreciation of the exchange rate.4. An increase in domestic real GNP increases the demand for money at anynominal interest rate. This is reflected in figure 14-2 as an outward shift in the money demand function from L 1 to L 2. The effect of this is to raise domestic interest rates from R 1 to R 2 and to cause an appreciation of the domestic currency from E 1 to E 2.5. Just as money simplifies economic calculations within a country, use of avehicle currency for international transactions reduces calculation costs. More importantly, the more currencies used in trade, the closer the trade becomes to barter, since someone who receives payment in a currency she does not need must then sell it for a currency she needs. This process is much less costly when there is a ready market in which any nonvehicle currency can be traded against the vehicle currency, which then fulfills the role of a generally accepted medium of exchange.REE 1E 2Figure 14-26. Currency reforms are often instituted in conjunction with other policies whichattempt to bring down the rate of inflation. There may be a psychological effect of introducing a new currency at the moment of an economic policy regime change, an effect that allows governments to begin with a "clean slate" and makes people reconsider their expectations concerning inflation. Experience shows, however, that such psychological effects cannot make a stabilization plan succeed if it is not backed up by concrete policies to reduce monetary growth.7. The interest rate at the beginning and at the end of this experiment are equal.The ratio of money to prices (the level of real balances) must be higher when full employment is restored than in the initial state where there isunemployment: the money-market equilibrium condition can be satisfied only with a higher level of real balances if GNP is higher. Thus, the price level rises, but by less than twice its original level. If the interest rate were initially below its long-run level, the final result will be one with higher GNP and higher interest rates. Here, the final level of real balances may be higher or lower than the initial level, and we cannot unambiguously state whether the price level has more than doubled, less than doubled, or exactly doubled.8. The 1984 - 1985 money supply growth rate was 12.4 percent in the UnitedStates (100%*(641.0 - 570.3)/570.3) and 334.8 percent in Brazil (100%*(106.1 - 24.4)/24.4). The inflation rate in the United States during this period was 3.5 percent and in Brazil the inflation rate was 222.6 percent. The change in real money balances in the United States was approximately 12.4% - 3.5% = 8.9%, while the change in real money balances in Brazil was approximately 334.8% - 222.6% = 112.2%. The small change in the U.S. price level relative to the change in its money supply as compared to Brazil may be due to greater short-run price stickiness in the United States; the change in the price level in the United States represents 28 percent of the change in the money supply ((3.5/12.4)*100%) while in Brazil this figure is 66 percent ((222.6/334.8) *100%). There are, however, large differences between the money supply growth and the growth of the price level in both countries, which casts doubt on the hypothesis of money neutrality in the short run for both countries.9. Velocity is defined as real income divided by real balances or, equivalently,nominal income divided by nominal money balances (V=P*Y/M). Velocity in Brazil in 1985 was 13.4 (1418/106.1) while velocity in the United States was6.3 (4010/641). These differences in velocity reflected the different costs ofholding cruzados compared to holding dollars. These different costs were due to the high inflation rate in Brazil which quickly eroded the value of idle cruzados, while the relatively low inflation rate in the United States had a much less deleterious effect on the value of dollars.RE(M 1E 3E 2E 1(M 2E 4Figure 14-310. If an increase in the money supply raises real output in the short run, then thefall in the interest rate will be reduced by an outward shift of the money demand curve caused by the temporarily higher transactions demand for money. In figure 14-3, the increase in the money supply line from (M 1/P) to (M 2/P) is coupled with a shift out in the money demand schedule from L 1 to L 2. The interest rate falls from its initial value of R 1 to R 2, rather than to the lower level R 3, because of the increase in output and the resulting outward shift in the money demand schedule. Because the interest rate does not fall as much when output rises, the exchange rate depreciates by less: from its initial value of E 1 to E 2, rather than to E 3, in the diagram. In both cases we see the exchange rate appreciate back some to E4 in the long run. The difference is the overshoot is much smaller if there is a temporary increase in Y. Note, the fact that the increase in Y is temporary means that we still move to the same IP curve, as LR prices will still shift the same amount when Y returns to normal and we still have the same size M increase in both cases. A permanent increase in Y would involve a smaller expected price increase and a smaller shift in the IP curve.Undershooting occurs if the new short-run exchange rate is initially below its new long-run level. This happens only if the interest rate rises when the money supply rises – that is if GDP goes up so much that R does not fall, but increases. This is unlikely because the reason we tend to think that an increase in M may boost output is because of the effect of lowering interest rates, so we generally don’t think that the Y response can be so great as to increase R.。

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

国际经济学习题与答案2第一章国际贸易理论的微观基础习题（一）选择题1.微观经济学研究的是单个社会的资源配置问题，而国际贸易理论研究的是（）A 一国的资源配置问题B两国范围内的资源配置问题C地区范围内的资源配置问题D世界范围内的资源配置问题2. 一个人在作出选择时，（）A如果边际收益非常大，他或她就不用考虑机会成本B进行最小机会成本的选择C比较该选择活动的边际成本和边际收益D只有当总利益非常大时，他或她才会选择使用其稀缺的资源3.机会成本（）A由自己支付，而与他人无关B对劳务而言是零，因为劳务不会持续太久；对物品而言是正的，因为物品具有长久性C是为了进行某一选择而放弃的评价最高的选择D是为了进行某一选择放弃的所有选择4.如果两个人在商品的生产中具有不同的机会成本，那么他们能够从专业化与交换中（）A都受损B一人受益，一人受损C既不受益，也不受损D都能够受益5. 沿着外凸的生产可能性边界线向下移动时，随着一种物品产量的增加，生产该物品的机会成本将（）A保持不变B增加C减少D无法确定6 .一个国家（），能够在其生产可能性边界线之外的点上进行消费。

A没有任何时候B在充分就业的情况下C同其他国家进行贸易时D所有生产要素全部投入生产的时候7.供给曲线除了表示不同的价格水平所提供的商品数量外，还可以被认为是（）A愿意并有能力支付的曲线B边际收益曲线C供给的最高价格曲线D供给的最低价格曲线8. 在封闭条件下，一国生产技术的改进降低了棉花的生产成本，那么棉花的价格（），棉花的生产数量（）A上升；增加B上升；减少C下降；增加D下降；减少9 .对于两国贸易模型来说，国际均衡价格一定处于两国贸易前的（）A最低相对价格水平之下B最高相对价格水平之上C相对价格水平之间D根据具体情况而定10 .经济学家作出这样的假设：作为一种目标，消费者总是在追求（）A其效用最大化B其收入的最大化C其边际效用的最大化D以上选项均不对（二）简答题1如何理解狭义和广义的国际贸易，国际贸易理论的主要研究对象是什么？2既然国际贸易理论与微观经济学的基本原理存在着一致性，为什么还要区分国际贸易与国内贸易，将国际贸易作为一个独立的问题来研究呢？3用相对价格概念解释经济行为主体是如何摆脱“货币幻觉”的影响的。

第一章练习与思考参考答案1．答：生产可能性曲线相同且为直线。

在自给自足经济下，各国将在生产可能性曲线与其社会无差异曲线的切点，EA 和EB上达到均衡。

需求条件的不同导致了各国在自给自足经济下的生产与消费的不同选择，但这些不同并不会引起两国之间相对价格的差异，两国的国内价格水平是相同的。

因此，不存在着贸易的基础。

2．答：因为，相对价格使得国际贸易成了物物交换的世界，消除了货币幻觉。

3．答：贸易后，国际相对价格将更接近于大国在封闭下的相对价格水平。

小国福利改善程度更明显些。

4．答：（1）在没有国际贸易的情况下，均衡要求国内需求数量与国内供给数量相等。

设两个方程相等，我们可以求出没有贸易情况下的均衡价格。

无贸易情况下的均衡价格为100，均衡数量为300。

（2）当价格为120时，A国的需求数量为290，它的供给数量为400。

在自由贸易条件下，A国将出口110个单位的产品。

（3）A国的消费者剩余将减少。

在无贸易情况下，由需求曲线与数值为100的价格线围成的是一个更大的三角形。

在自由贸易情况下，由需求曲线与数值为120的价格线围成的是一个更小的三角形。

A国的生产者剩余将增加。

在无贸易情况下，由供给曲线与数值为100的价格线围成的是一个更小的小三角形。

在自由贸易情况下，由供给曲线与数值为120的价格线围成的是一个更大的三角形。

整个国家从贸易中获得的净收益为生产者剩余的增加量与消费者剩余的减少量之差。

这一收益的大小等于一个三角形的面积：它的底边是产品贸易数量（110），它的高是价格的变化量（120-100=20）。

因此，总收益为1100。

5．答：他们的损失为，继续在国内销售480亿立方米木材价值的损失，加上少销售的40亿立方米木材价值总量的损失。

两者相加，共损失25亿美元。

6．答：（1）在自由贸易及每桶18美元价格下，国内生产数量QS 为18=+6QS，或QS=29亿桶。

国内消费数量18=42-4QD ，或QD=60亿桶。

国际经济学第八版下册答案【篇一：克鲁格曼《国际经济学》第八版课后答案(英文)-ch10】>trade policy in developing countries? chapter organizationimport-substituting industrializationthe infant industry argumentpromoting manufacturing through protectionismcase study: mexico abandons import-substituting industrializationresults of favoring manufacturing: problems of import-substituting industrializationtrade liberalization since 1985export-oriented industrialization: the east asian miraclethe facts of asian growthtrade policy in the hpaesindustrial policy in the hpaesbox: india’s boomother factors in growthsummary? chapter overviewthe final two chapters on international trade, chapters 10 and 11, discuss trade policy considerations in the context of specific issues. chapter 10 focuses on the use of trade policyin developing countries and chapter 11 focuses on new controversies in trade policy.while there is great diversity among the developing countries, they share some common policy concerns. these include the development of domestic manufacturing industries, the uneven degree of development within the country, and the desire to foster economic growth and improve living standards. this chapter discusses both the successful and unsuccessful trade policy strategies which have been applied by developing countries in attempts to address these concerns.many developing countries pose the creation of a significant manufacturing sector as a key goal of economic development. one commonly voiced argument for protecting manufacturing industries is the infant industry argument, which states thatdeveloping countries have a potential comparative advantage inmanufacturing and can realize that potential through an initial period of protection. this argument assumes market failure in the form of imperfect capital markets or the existence of externalities in production. such a market failure makes the social return to production higher than the private return. this implies that a firm will not be able to recapture rents or profits that are in line with the contribution to welfare made by the product or industry establishment of the firm. without some government support, the argument goes, the amount of investment which will occur in this industry will be less than socially optimal levels.chapter 10 trade policy in developing countries 43given these arguments, many nations have attempted import-substitution-led industrialization. in the 1950s and 1960s the strategy was quite popular and did lead to a dramatic reduction in imports in some countries. the overall result, though, was not a success. the infant industry argument did not always hold, as protection could let young industries survive, but could not make them efficient. by the late 1980s, most countries had shifted away from the strategy, and the chapter includes a case study of mexico’s change from import substitution to a more open strategy.since 1985 many developing countries had abandoned import substitution and pursued (sometimesaggressively) trade liberalization. the chapter notes two sides of the experience. on the one hand, trade has gone up considerably and changed in character. developing countries export far more of the gdpthan prior to liberalization, and more of it is in manufacturing as opposed to agricultural or mining sectors. at the same time, the growth experience of these countries has not been universally good and it is difficult to tell if the success stories are due to trade or due to reforms that came at the same time as liberalization. the east asian “miracle” of the high-performing asian economies (hpaes) provides a striking andcontroversial example of export-oriented industrialization. while these countries encountered difficulties in the late 1990s (see chapter 22), this chapter focuses on their spectaculargrowth from the 1960s to 1990s. it is acknowledged that the growth was extremely impressive; the controversy is over the source of the success in these countries. some observers argue that although these countries do not practice free trade, they have lower rates of protection (and more outward orientation) than other developing countries. other observers argue that the interventionist industrial policies pursued by the hpaes have been the reason for success, and outward orientation is just a by-product of active rather than passive government involvement in industry. still others argue that high rates of domestic savings and rapid improvements in education are behind the stunning growth performance.? answers to textbook problems1. the countries that seem to benefit most from international trade include many of the countries of thepacific rim, south korea, taiwan, singapore, hong kong, malaysia, indonesia, and others. though the experience of each country is somewhat different, most of these countries employed some kind of infant industry protection during the beginning phases of their development, but then withdrew protection relatively quickly after industries became competitive on world markets. concerningwhether their experiences lend support to the infant industry argument or argues against it is still a matter of controversy. however, it appears that it would have been difficult for these countries to engage in export-led growth without some kind of initial government intervention.the japanese example gives pause to those who believe that protectionism is always disastrous.however, the fact of japanese success does not demonstrate that protectionist trade policy wasresponsible for that success. japan was an exceptional society that had emerged into the ranks of advanced nations before world war ii and was recovering from wartime devastation. it is arguable that economic success would have come anyway, so that the apparent success of protection represents a “pseudo-infant-industry” case of the kind discussed in the text.a. the initial high costs of production would justify infant industry protection if the costs to thesociety during the period of protection were less than the future stream of benefits from a mature, low cost industry.b. an individual firm does not have an incentive to bear development costs itself for an entireindustry when these benefits will accrue to other firms. thereis a stronger case for infantindustry protection in this instance because of the existenceof market failure in the form of theappropriability of technology. 2. 3.44 krugman/obstfeld ? international economics: theory and policy, eighth edition4. india ceased being a colony of britain in 1948, thus its dramatic break from all imports in favor ofmexico (as opposed to recently deposed colonial firms in india) may have helped keep mexico open to importing capital goods necessary in the manufacturing process.in some countries the infant industry argument simply did not appear to work well. such protection will not create a competitive manufacturing sector if there are basic reasonswhy a country does not have a competitive advantage in a particular area. this was particularly the case in manufacturing where many low-income countries lack skilled labor, entrepreneurs, and the level of managerialacumen necessary to be competitive in world markets. the argument is that trade policy alone cannot rectify these problems. often manufacturing was also created on such a small-scale that it made the industries noncompetitive, where economies of scale are critical to being a low-cost producer.moreover protectionist policies in less-developed countries have had a negative impact on incentives, which has led to “rent-seeking” or corruption.question 6 involves assessing the impact of dual labor markets. the topic is not covered extensively in the current edition of the book and instructors may not want to assign the question unless they bring additional material into the classroom to augment the text.a. we know that the wages should be equivalent, so, given that80 – la ? wa, we can substitute wm for wa, and recall that wm ? 100 – lm. combined with the information that la ? lm ? 100, we getl*a?40 and the equilibrium wage ? 40.b. since wm ? 50, lm ? 50 and thus la ? 50 and wm ? 30, we have a net loss of (0.5)(10)(20) ? 100 in national income. 5. 6.【篇二：国际经济学(克鲁格曼)课后习题答案1-8章】1．为什么说在决定生产和消费时，相对价格比绝对价格更重要？答案提示：当生产处于生产边界线上，资源则得到了充分利用，这时，要想增加某一产品的生产，必须降低另一产品的生产，也就是说，增加某一产品的生产是有机会机本（或社会成本）的。

国际经济学第三版课后练习题含答案Chapter 1: IntroductionExercises1.1a.What is international economics?b.Define globalization.c.What is the difference between international trade andinternational finance?d.Expln why international trade and international finance arerelated.1.2a.Expln the difference between positive and normativestatements.b.Provide an example of each type of statement as it relatesto international economics.1.3a.Discuss the economic arguments for and agnst free trade.b.Discuss the political arguments for and agnst free trade.1.4a.Expln the theory of comparative advantage.b.Provide an example of comparative advantage.1.5a.Discuss the gns and losses from trade.b.Provide an example of the gns from trade.Answers1.1a.International economics is the study of how countriesinteract economically with each other and the consequences ofthose interactions.b.Globalization is the integration of economies and societiesacross the world through the exchange of goods, services, capital and people.c.International trade is the exchange of goods and servicesbetween countries. International finance refers to the movement of financial capital across borders, including foreign directinvestment, portfolio investment and international borrowing and lending.d.International trade and finance are related because tradenecessarily involves exchange of currencies, which in turn affects the demand and supply of currencies in international markets.1.2a.Positive statements are factual statements that can betested and verified or rejected based on evidence. Normativestatements are statements that express judgments or opinions about what ought to be.b.An example of a positive statement in international economics is。

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.。

克鲁格曼《国际经济学》（第8版）课后习题详解克鲁格曼《国际经济学》(第8版)课后习题详解第1章绪论本章不是考试的重点章节，建议读者对本章内容只作大致了解即可，本章没有相关的课后习题。

第1篇国际贸易理论第2章世界贸易概览一、概念题1>(发展中国家(developing countries)答:发展中国家是与发达国家相对的经济上比较落后的国家，又称“欠发达国家”或“落后国家”。

通常指第三世界国家，包括亚洲、非洲、拉丁美洲及其他地区的130多个国家。

衡量一国是否为发展中国家的具体标准有很多种，如经济学家刘易斯和世界银行均提出过界定发展中国家的标准。

一般而言，凡人均收入低于美国人均收入的五分之一的国家就被定义为发展中国家。

比较贫困和落后是发展中国家的共同特点。

2>(服务外包(service outsourcing)答:服务外包是指企业将其非核心的业务外包出去，利用外部最优秀的专业化团队来承接其业务，从而使其专注于核心业务，达到降低成本、提高效率、增强企业核心竞争力和对环境应变能力的一种管理模式。

20世纪90年代以来，随着信息技术的迅速发展，特别是互联网的普遍存在及广泛应用，服务外包得到蓬勃发展。

从美国到英国，从欧洲到亚洲，无论是中小企业还是跨国公司，都把自己有限的资源集中于公司的核心能力上而将其余业务交给外部专业公司，服务外包成为“发达经济中不断成长的现象”。

3>(引力模型(gravity model)答:丁伯根和波伊赫能的引力模型基本表达式为:其中，是国与国的贸易额，为常量，是国的国内生产总值，是国的国内生产总值，是两国的距离。

、、三个参数是用来拟合实际的经济数据。

引力模型方程式表明:其他条件不变的情况下，两国间的贸易规模与两国的GDP成正比，与两国间的距离成反比。

把整个世界贸易看成整体，可利用引力模型来预测任意两国之间的贸易规模。

另外，引力模型也可以用来明确国际贸易中的异常现象。

4>(第三世界(third world)答:第三世界这个名词原本是指法国大革命中的Third Estate(第三阶级)。

克鲁格曼《国际经济学》（第8版）课后习题详解克鲁格曼《国际经济学》(第8版)课后习题详解第1章绪论本章不是考试的重点章节，建议读者对本章内容只作大致了解即可，本章没有相关的课后习题。

第1篇国际贸易理论第2章世界贸易概览一、概念题1>(发展中国家(developing countries)答:发展中国家是与发达国家相对的经济上比较落后的国家，又称“欠发达国家”或“落后国家”。

通常指第三世界国家，包括亚洲、非洲、拉丁美洲及其他地区的130多个国家。

衡量一国是否为发展中国家的具体标准有很多种，如经济学家刘易斯和世界银行均提出过界定发展中国家的标准。

一般而言，凡人均收入低于美国人均收入的五分之一的国家就被定义为发展中国家。

比较贫困和落后是发展中国家的共同特点。

2>(服务外包(service outsourcing)答:服务外包是指企业将其非核心的业务外包出去，利用外部最优秀的专业化团队来承接其业务，从而使其专注于核心业务，达到降低成本、提高效率、增强企业核心竞争力和对环境应变能力的一种管理模式。

20世纪90年代以来，随着信息技术的迅速发展，特别是互联网的普遍存在及广泛应用，服务外包得到蓬勃发展。

从美国到英国，从欧洲到亚洲，无论是中小企业还是跨国公司，都把自己有限的资源集中于公司的核心能力上而将其余业务交给外部专业公司，服务外包成为“发达经济中不断成长的现象”。

3>(引力模型(gravity model)答:丁伯根和波伊赫能的引力模型基本表达式为:其中，是国与国的贸易额，为常量，是国的国内生产总值，是国的国内生产总值，是两国的距离。

、、三个参数是用来拟合实际的经济数据。

引力模型方程式表明:其他条件不变的情况下，两国间的贸易规模与两国的GDP成正比，与两国间的距离成反比。

把整个世界贸易看成整体，可利用引力模型来预测任意两国之间的贸易规模。

另外，引力模型也可以用来明确国际贸易中的异常现象。

4>(第三世界(third world)答:第三世界这个名词原本是指法国大革命中的Third Estate(第三阶级)。

第一章绪论1、列举出体现当前国际经济学问题的一些重要事件，他们为什么重要？他们都是怎么影响中国与欧、美、日的经济和政治关系的？当前的国际金融危机最能体现国际经济学问题，其深刻地影响了世界各国的金融、实体经济、政治等领域，也影响了各国之间的关系因此显得尤为重要；其对中国与欧、美、日的政治和经济关系的影响为：减少中国对上述国家的出口，影响中国外汇储备，贸易摩擦加剧，经济联系加强，因而也会导致中国与上述国家在政治上的对话与合作。

2、我们如何评价一国与他国之间的相互依赖程度？我们可以通过一国的对外贸易依存度来评价该国与他国之间的相互依赖程度，也可以通过其他方式来评价比如一国政府政策的溢出效应和回震效应以及对外贸易对国民生活水平的影响。

3、国际贸易理论及国际贸易政策研究的内容是什么？为什么说他们是国际经济学的微观方面?国际贸易理论分析贸易的基础和所得，国际贸易政策考察贸易限制和新保护主义的原因和效果。

国际贸易理论和政策是国际经济学的微观方面，因为他们把国家看作基本单位，并研究单个商品的（相对）价格。

4、什么是外汇交易市场及国际收支平衡表？调节国际收支平衡意味着什么？为什么说他们是国际经济学的宏观方面？什么是宏观开放经济学及国际金融？外汇交易市场描述一国货币与他国货币交换的框架，国际收支平衡表测度了一国与外部世界交易的总收入与总支出的情况。

调节国际收支平衡意味着调节一国与外部世界交易出现的不均衡（赤字或盈余）；由于国际收支平衡表涉及总收入和总支出，调节政策影响国家收入水平和价格总指数，因而他们是国际经济学的宏观方面；外汇交易及国际收支平衡调节涉及总收入和总支出，调整政策影响国家收入水平和价格总指数，这些内容被称为宏观开放经济学或国际金融。

5、浏览报刊并做下列题目：（1）找出5条有关国际经济学的新闻（2）每条新闻对中国经济的重要性或影响（3）每条新闻对你个人有何影响A (1) 国际金融危机: 影响中国整体经济,降低出口、增加失业、经济减速等(2) 美国大选：影响中美未来经济政治关系(3) 石油价格持续下跌：影响中国的能源价格及相关产业(4) 可口可乐收购汇源被商务部否决：《反垄断法》的第一次实施，加强经济法治(5) 各国政府经济刺激方案：对中国经济产生外部性效应B 以上5条新闻对个人影响为：影响个人消费水平和就业前景第二章比较优势理论1、重商主义者的贸易观点如何？他们的国家财富概念与现在有何不同？重商主义者主张政府应当竭尽所能孤立出口，不主张甚至限制商品（尤其是奢侈类消费品）。