国际经济学第九版课后答案
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FIGURE 4.1
10. See Figure 4.3. In Figure 4.3, Nation 2 is the small
nation, and we magnified the portion of the offer curve of Nation 1 (the large nation) near the origin (where Nation 1’s offer curve coincides with PA = 1/4, Nation 1’s pretrade-relative commodity price with trade). This means that Nation 2 can import a sufficiently small quantity
some import restrictions. These topics are discussed in detail in Chapter 9.
Chapter 2
2. In case A, the United States has a comparative advantage in wheat and the United Kingdom in cloth. In case B, the United States has a comparative advantage in wheat and the United Kingdom in cloth. In case C, the United States has a comparative advantage in wheat and the United Kingdom in cloth. In case D, the United States and the United Kingdom have a comparative advantage in neither commodity.
Chapter 3
3. a. See Figure 3.1. b. Nation 1 has a comparative advantage in X and Nation 2 in Y.
Answers to Selected Problems
c. If the relative commodity price line has equal slope in both nations.
7. a. A government can reduce a budget deficit by reducing government expenditures and/or increasing taxes.
b. A nation can reduce or eliminate a balance-of-payments deficit by taxing imports and/or subsidizing exports, by borrowing more abroad or lending less to other nations, and by reducing the level of its national income.
7. See Figure 3.3. The small nation will move from A to
B in production and will export X in exchange for Y so as to reach point E > A.
FIGURE 3.1
FIGURE 3.2
10. If DW(US + UK) intersected SW(US + UK) at PW/PC = 2/3 and 120W in the left panel of Figure 2.3, this would mean that the United States would not be specializing completely in the production of wheat. The United Kingdom, on the other hand, would be specializing completely
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Answers to Selected Problems
Chapter 1
6. a. Consumer demand theory predicts that when the price of a commodity rises (cet. par.), the quantity demanded of the commodity decli.
b. Nation 1 gains by the amount by which point E is to the right and above point A and Nation 2 by the excess of E0 over A0. Nation 1 gains more from trade because the relative price with trade differs more from its pretrade price than for Nation 2.
8. See Figure 4.2. From the left panel of Figure 4.4 in the
text, we see that Nation 2 does not export any amount of commodity Y at Px/Py = 4, or Py/Px = 1/4. This gives point A on Nation 2’s supply curve of the exports of commodity Y (S). From the left panel of Figure 4.4 in the text, we also see that at Px/Py = 2 or Py/Px = ½, Nation 2 exports 40Y. This gives point H on S. Other points on S could similarly be derived. Note that S in Figure 4.2 is identical to S in Figure 4.6 in the text, showing Nation 1’s exports of commodity X.
FIGURE 3.3
Chapter 4
6. a. See Figure 4.1. b. The quantity of imports demanded by Nation 1 at PF0 exceeds the quantity of exports of Y supplied by Nation 2. Therefore, Px/Py declines (Py/Px rises) until the quantity demanded of imports of Y by Nation 1 equals the quantity of exports of Y supplied by Nation 2 at PB = PB0. c. The backward-bending (i.e., negatively sloped) segment of Nation 1’s
The equilibrium-relative commodity price of commodity Y is Py/Px = 1. This is determined at the intersection of D and S in Figure 4.2. At Py/Px = 3/2, there is an excess of supply of R0R = 30Y, and Py/Px falls to Py/Px = 1. On the other hand, at Py/Px = ½, there is an excess demand of HH0 = 80Y, and Py/Px rises to Py/Px = 1. Note also that Figure 4.2 is symmetrical with Figure 4.6 in the text.
4. a. The United States gains 1C.
b. The United Kingdom gains 4C.
c. 3C < 4W < 8C.
d. The United States would gain 3C, while the United Kingdom would gain 2C.
Ans-1
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Ans-2
in the production of cloth and exchanging 20C for 30W with the United States. Since the United Kingdom trades at the U.S. pretrade-relative commodity price of PW/PC = 2/3, the United Kingdom receives all of the gains from trade.
b. When the price of imports rises to domestic consumers, the quantity demanded of exports can be expected to decline (if everything else remains constant).
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Answers to Selected Problems
Ans-3
