第六章习题.docx

第六章习题.docx

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第六章习题

Chapter6:

TheStandardTradeModel

1.Theconcept“termsoftrade”means

A.theamountofexportssoldbyacountry.

B.thepriceconditionsbargainedforininternationalmarkets.

C.thepriceofacountry'sexportsdividedbythepriceofitsimports.

D.thequantitiesofimportsreceivedinfreetrade.

E.Noneoftheabove.

2.Acountrycannotproduceamixofproductswithahighervaluethanwhere

A.theisovaluelineintersectstheproductionpossibilityfrontier.

B.theisovaluelineistangenttotheproductionpossibilityfrontier.

C.theisovaluelineisabovetheproductionpossibilityfrontier.

D.theisovaluelineisbelowtheproductionpossibilityfrontier.

E.theisovaluelineistangentwiththeindifferencecurve.

3.Tastesofindividualsarerepresentedby

A.theproductionpossibilityfrontier.

B.theisovalueline.

C.theindifferencecurve.

D.theproductionfunction.

E.Noneoftheabove.

4.IfPC/PFweretoincreaseintheinternationalmarketplace,then

A.allcountrieswouldbebetteroff.

B.thetermsoftradeofclothexportersimprove.

C.thetermsoftradeoffoodexportersimprove.

D.thetermsoftradeofallcountriesimprove.

E.Noneoftheabove

5.IfPC/PFweretoincrease,

A.theclothexporterwouldincreasethequantityofclothexports.

B.theclothexporterwouldincreasethequantityofclothproduced.

C.thefoodexporterwouldincreasethequantityoffoodexports.

D.BothAandC.

E.Noneoftheabove.

6.IfPC/PFweretoincrease,

A.worldrelativequantityofclothsuppliedanddemandedincreases.

B.worldrelativequantityofclothsuppliedanddemandeddecreases.

C.worldrelativequantityofclothsuppliedincreases..

D.worldrelativequantityofclothdemandeddecreases.

E.Noneoftheabove.

7.Whentheproductionpossibilityfrontiershiftsoutrelativelymoreinonedirection,wehave

A.biasedgrowth.

B.unbiasedgrowth.

C.immiserizinggrowth.

D.balancedgrowth.

E.imbalancedgrowth.

8.Export-biasedgrowthinCountryHwill

A.improvethetermsoftradeofCountryH.

B.triggeranti-biasregulationsoftheWTO.

C.worsenthetermsoftradeofCountryF（thetradepartner）.

D.improvethetermsoftradeofCountryF.

E.decreaseeconomicwelfareinCountryH.

9.Immiserizinggrowthis

A.likelytooccuriftheexportingcountryispoor.

B.likelytooccuriftheexportingcountryisrich.

C.likelytooccurwhentermsoftradechange.

D.likelytooccurifrelativesuppliesareelastic.

E.Noneoftheabove.

10.IftheU.S.AgencyforInternationalDevelopmenttransfersfundstopoorcountriesinSub-SaharanAfrica,thismust

A.worsentheU.S.termsoftrade.

B.improvetheU.S.termsoftrade.

C.worsenthetermsoftradeoftheAfricanaidrecipients.

D.improvethetermsoftradeoftheAfricanaidrecipients.

E.Noneoftheabove.

11.IfthepoorAIDrecipientcountrieshaveahighermarginalpropensitytoconsumeeachandeveryproductthandoestheUnitedStates,thensuchaidwill

A.worsentheU.S.termsoftrade.

B.improvetheU.S.termsoftrade.

C.leavetheworldtermsoftradeunaffected.

D.worsenthetermsoftradeofbothdonorandrecipientcountries.

E.Noneoftheabove.

12.Ifalargecountryimposesatariffonitsimportedgood,thiswilltendto

A.havenoeffectontermsoftrade.

B.improvethetermsoftradeofallcountries.

C.improvethetermsoftradeoftheUnitedStates.

D.causeadeteriorationofU.S.termsoftrade.

E.raisetheworldpriceofthegoodimportedbytheUnitedStates.

13.Acountrywillbeabletoconsumeabundlewhichisnotattainablesolelyfromdomesticproductiononlyif

A.theworldtermsoftradedifferfromitsdomesticrelativecosts.

B.thecountryspecializesinoneproduct.

C.thecountryavoidsinternationaltrade.

D.theworldtermsoftradeequalthedomesticrelativecosts.

E.Noneoftheabove.

14.Termsoftraderefersto

A.whatgoodsareimported.

B.whatgoodsareexported.

C.thevolumeoftrade.

D.thepricesatwhichtradeoccurs.

E.Noneoftheabove.

15.Ifpointsaandbarebothontheproductionpossibilityfrontierofacountry,then

A.consumersareindifferentbetweenthetwobundles.

B.producersareindifferentbetweenthetwobundles.

C.atanypointintime,thecountrycouldproduceboth.

D.Bothcostthesame.

E.Thecountrycouldproduceeitherofthetwobundles.

16.Iftheeconomyisproducingatpointaonitsproductionpossibilityfrontier,then

A.allofthecountry'sworkersarespecializedinoneproduct.

B.allofthecounty'scapitalisusedforoneproduct.

C.allofthecounty'sworkersareemployed.

D.allofitscapitalisused,butnotefficiently.

E.Noneoftheabove.

17.IfatpointAontheproductionpossibilityfrontier,andthecommunityindifferencecurvecutsthroughpointafromnorthwesttosoutheast,thentheoptimalautarkyproductionbundleis

A.atpointA.

B.totherightofpointA.

C.totheleftofpointA.

D.tothenortheastofpointA.

E.tothesouthwestofpointA.

18.Abundleindicatedbyapointtothenortheastoftheproductionpossibilityfrontieris

A.unattainableatapointintime.

B.unattainableatapointintimewithoutinternationaltrade.

C.unattainableatapointintimewithoutdomestictrade.

D.unattainableasaconsumptionpoint.

E.Noneoftheabove.

19.Iftwocountrieswithdiminishingreturnsanddifferentmarginalratesofsubstitutionbetweentwoproductsweretoengageintrade,then

A.theshapesoftheirrespectiveproductionpossibilityfrontierswouldchange.

B.themarginalratesofsubstitutionofbothwouldbecomeequal.

C.thelargerofthetwocountrieswoulddominatetheirtrade.

D.thecountrywithrelativelyelasticsupplieswouldexportmore.

E.Noneoftheabove.

20.IfacountrybeganexportingproductAandimportingproductB,then,ascomparedtotheautarky（no-trade）situation,themarginalcostofproductAwill

A.increase.

B.decrease.

C.shiftoutward.

D.shiftinward.

E.Noneoftheabove.

21.If,beginningfromafreetradeequilibrium,thetermsoftradeimproveforacountry,thenitwill

A.increaseproductionofitsimportcompetinggood.

B.increaseconsumptionofitsexportgood.

C.increasethequantityofitsimports.

D.experienceanexport-biasedshiftinitsproductionpossibilityfrontier.

E.Noneoftheabove.

22.Anincreaseinacountry'snetcommoditytermsoftradewillalways

A.increasethecountry'seconomicwelfare.

B.increasethecountry'srealincome.

C.increasethecountry'squantityofexports.

D.increasethecountry'sproductionofitsimportcompetinggood.

E.Noneoftheabove.

23.AfterWWI,Germanywasforcedtomakelargereparations-transfersofrealincome-toFrance.Ifthemarginalpropensitytoconsumewasequalinbothcountries,andifFrance'sdemandwasbiasedtowardfood（relativetoGermany'sdemandpattern）thenwewouldexpecttofind

A.theworld'srelativepriceforfoodremainsunchanged.

B.theworld'srelativepriceforfoodincrease.

C.theworld'srelativepriceforfooddecrease.

D.theworldrelativepriceforbothfoodandnon-foodrise.

E.Noneoftheabove.

24.IfweaddtoQuestion23thatFranceexportedmanufactures,whereasGermanyexportedfood,thenthereparationsfromGermanytoFrancewould

A.improveFrance'sinternationaltermsoftrade.

B.causeFrance'termsoftradetodeteriorate.

C.causebothFrance'andGermany'stermsoftradetodeteriorate.

D.causebothFrance'andGermany'stermsoftradetoimprove.

E.Noneoftheabove.

25.Ifacountrylentmoneytoanother,thismust

A.lowerthetermsoftradeoftherecipientcountry.

B.lowerthetermsoftradeofbothcountries.

C.improvethetermsoftradeoftherecipientcountry.

D.improvethetermsoftradeofthedonorcountry

E.Noneoftheabove.

26.Duringthe19thCentury,economicgrowthofthemajortradingcountrieswasbiasedtowardmanufacturesandawayfromfood.Thelessdevelopedcountriesofthattimewerenetexportersoffood.Fromthisinformation,wewouldexpecttohaveobserved

A.fallingtermsoftradeforthelessdevelopedcountries.

B.improving（rising）termsoftradeforthelessdevelopedcountries.

C.nochangeatallinthetermsoftradeofthelessdevelopedcountries.

D.adecreaseintherelativepriceoffood.

E.Noneoftheabove.

27.Immiserizinggrowthcouldoccurto

A.apoorcountryexperiencingexport-biasedeconomicgrowth.

B.apoorcountryexperiencingimport-biasedeconomicgrowth.

C.apoorcountryexperiencinggrowthinitsnon-tradedsector.

D.apoorcountryexperiencingcapital-intensivebiasedgrowth.

E.Noneoftheabove.

28.Alargecountryexperiencingimport-biasedeconomicgrowthwilltendtoexperience

A.positivetermsoftrade.

B.deterioratingtermsoftrade.

C.improvingtermsoftrade.

D.immiserizingtermsoftrade.

E.Noneoftheabove.

29.IntheperiodprecedingtherecentFinancialCrisisinAsia,theSouthEastAsiancountrieswerereceivinglargeinflowsoffinancialcapital.FollowingJohnMaynardKeynes'theory,thisshouldhavecaused

A.aglutintheirbankingassetsituation.

B.animprovementintheirtermsoftrade.

C.deteriorationintheirtermsoftrade.

D.afluctuationupwardandthendownwardintheirtermsoftrade.

E.Noneoftheabove.

30.IfSloveniaisasmallcountryinworldtradeterms,thenifitimposesalargeseriesoftariffsonmanyofitsimports,thiswould

A.havenoeffectonitstermsoftrade.

B.improveitstermsoftrade.

C.deteriorateitstermsoftrade.

D.decreaseitsmarginalpropensitytoconsume.

E.Noneoftheabove.

31.IfSloveniaisalargecountryinworldtrade,thenifitimposesalargesetoftariffsonmany