国际贸易英语期末复习题Word格式.docx

国际贸易英语期末复习题Word格式.docx

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a.CosttheU.S.economyanestimated5millionjobsby2005.

b.Mainlyimpactsworkersinbusinessservicessuchasdataentryandsoftwaredevelopment.

c.Isaseriousconcernforworkersinhigh-wagemanufacturingindustries.

d.WillhaveaseriousnegativeimpactonallservicesectorjobsintheUnitedStates.

B

3.Globalization:

a.Istheprocessofintensifyingtheconnectionsbetweennationaleconomiesthroughinternationaltrade,foreigndirectinvestmentsbymultinationalfirms,andinternationalfinancialinvestments.

b.Hasbeenproventoworsenworkingconditionsandincreasepovertyinpoorcountries.

c.Requiresgovernmentstoweakenlaborandenvironmentalregulationsinordertoremaincompetitive.

d.IscoordinatedbytheInternationalLaborOrganizationtoensurerespectforthefourcorelaborstandards.

A

4.Thelong-runsolutiontoeliminatingchildlaboristo:

a.Boycottcompanieswhoseproductsareproducedusingchildlabor.

b.Imposetradesanctionsagainstcountriesthatviolatechildlaborstandards.

c.Stimulateeconomicgrowthandrisingincomesinpoorcountries.

d.Thereisnolong-runsolutionasdemandforcheaplaborwillalwaysexist.

5.Inearly2002,thenationalmoneysof12Europeancountriesdisappeared.Theywerereplacedbyonenewmoney,theeuro.ThebenefitstothosecountriesincludedallofthefollowingEXCEPT:

a.Itisconvenient–thereisnoneedtochangemoneywhencrossingnationalborders.

b.Itislessrisky–thereisnoneedtoworryaboutthechangingvalueofonecountry’smoneyrelativetoanothercountry’smoney.

c.Itiseconomical–travelandtradearemadeeasierduetoadecreaseintransactioncosts.

d.Itstrengthensdomesticpolicy–usinganinternationalmoneygivesacountry’sCentralBankagreaterabilitytoinfluencenationalprices,production,andjobs.

D

6.TheChinesegovernment’sinterventionintheforeignexchangemarket-buyingU.S.dollarsandsellingyuan–hadtheeffectof:

a.WeakeningtheU.SdollarandincreasingtheU.S.tradedeficitwithChina.

b.StrengtheningtheU.SdollarandincreasingtheU.S.tradedeficitwithChina.

c.StrengtheningtheyuanandincreasingtheU.S.tradedeficitwithChina.

d.StrengtheningtheyuananddecreasingtheU.S.tradedeficitwithChina.

7.OnJuly21st,2005,theChinesegovernmentchangedthevalueoftheyuanfrom8.28yuanperU.S.dollarto8.11yuanperU.S.dollar.Thisimpliesa__________dollaranda__________yuan.

a.Weaker;

weaker

b.Weaker;

stronger

c.Stronger;

d.Stronger;

8.Sincetheearly2000s,avarietyofserviceshasbeensubjecttooutsourcingintheUnitedStatesEXCEPTfor:

a.Dataentry.

b.Telephonecallcenters.

c.Softwaredevelopment.

d.Haircuts.

9.Sincethelatenineties,tokeeptheexchangerateoftheyuantotheU.S.dollarfixed,theChinesegovernment:

a.HasbeentryingtoholdpredominantlyeurosandBritishpoundsasforeignassets.

b.HasbeenbuyingdollarsandsellingYuan.

c.Hasbeentryingnottosellitsdomesticcurrency（Yuan）.

d.HasbeenkeepingatradedeficitwithmanycountriesincludingAustralia,Russia,Japan,andBrazil.

10.Theexchangeratepolicyofa“crawlingpeg”adoptedbytheChinesegovernmentsince2005meansthatthegovernment:

a.Allowedsmalldailychangeswhichovertimeresultedinaslow,tightlycontrolledtrend.

b.VehementlydefendedtheyuanbysellingU.S.dollars.

c.Heldabalancedportfolioofassetsincludingavarietyofforeigncurrencies.

d.TriedtounwindthetradesurpluswiththeU.S.

11.Outsourcingistheprocessof:

a.Shiftingbusinessactivitiesabroad.

b.Allowingforeignworkersontemporaryvisas.

c.Eliminatingbusinessactivitiesthatrequireforeignlabor.

d.Payingforeignworkerslowerwagescomparedtodomesticworkers.

12.Inrecentyears,theEuropeanUnion:

a.AttemptedageographicexpansiontoincludeTurkey.

b.Adoptedaformalconstitutioninwhichwasdecidedthatallcountriesshouldpaytheirdebtintheirowncurrencies.

c.Madeprogressontheformationofamonetaryunion,andonanexpansionoftheEuropeanUnion,butcouldnotadoptaformalconstitutionduetothenegativevoteofFrancein2005.

d.Madesignificantprogressontheformationofamonetaryunion,aformalconstitution,andonacceptingsomeeasternEuropeancountriesasmembers.

True/FalseQuestions

13.Childlaborvirtuallyvanishesinadevelopingeconomywhenincomepercapitareachesabout$8,400.

TRUE

14.Ithasbeenestimatedthatworldwideapproximately100millionchildrenundertheageof15workfull-timeandatleastthatnumberworkpart-time.

15.WhileBritain,Denmark,andSwedendonotusetheeuro,theEuropeanCentralBankmakesmonetarypolicyfortheentireEU.

FALSE

16.WhiletherearemanycountriesinterestedinjoiningtheEU,itisunlikelythattheEUwillbeenlargedbecausethereseemslittledesireonthepartofmembercountriestohavealargerunion.

17.TheWorldTradeOrganization,theInternationalMonetaryFund,theUnitedNations,andtheWorldBankcontroltheinternationaleconomybyimposingbindingrulesthatcontrolinternationaltradeandexchangemarkets.

18.ThefourcorelaborstandardsagreeduponintheInternationalLaborOrganizationwerethatallcountriesshould:

respectcollectivebargaining,banforcedlabor,banchildlabor,andbandiscriminationintheworkplace.

19.Labormaybeinternationallymobile,butcapitalandlanddonotmigratefromonecountrytoanother.

20.Politiciansdonoterectbarrierstotradewithothercountriesbecausetheyarealsoconcernedwiththewell-beingofforeigners.

21.Firmsarealwaystryingtolowerthecoststheyincurintheirproductionactivities,andthatisthemainreasonforthemtoshiftjobsabroad.

22.IndiaandChinaareamongthemainprovidersofoutsourcingservices.

23.TurkeyisscheduledtojointheEuropeanUnionin2009.

24.EachcountryhastoabidebythedecisionsoftheInternationalMonetaryFundandtheWorldBankbecausetheyaretheonlyrecognizedinternationalorganizationswhomanagetheglobaleconomy.

EssayQuestions

25.OneofthebasicrequirementsforacountrytojointheEuropeanUnionisthecapacityandwillingnesstoadoptandtoimplementEUrulesandstandards.Whywouldacountryagreetomakechangestoitsnationallawsandregulationstoconformtooutsiderequirements?

POSSIBLERESPONSE:

ItistruethatbeingamemberoftheEuropeanUnioncomesatacost:

everymemberhasinsomerespecttocedenationalsovereigntyandtoabidebythelawsandregulationsoftheEuropeanUnion.However,forthesecountriestherearebenefitstobeingmembersofthisUnionthatsignificantlyexceedthiscost.

First,theserulesandregulationsarenotimposedbyathirdparty,butdesignedbythemembersoftheUnionthemselves.So,eachcountryhastheopportunity,toagreaterorlesserextent,totakepartinthedesignoftheselawsandregulations.

Second,givingupnationalsovereigntymightbepopularincountrieswherenationalpolicieshavebeendisastrous.Thisisparticularlytrueforcountrieswhichdidnothaveawellcontrolledmonetarypolicyandoversuppliedtheirowncurrenciesuntilinflationmadethesenationalcurrenciesnearlyworthless.ThesecountriesmightindeedbegainingbycedingtheirmonetarysovereigntytotheEuropeanCentralBank.

Finally,eventhougheachmemberissubjectedtothesamerulesandregulations,eachcountryisgainingbecauseallothermembersabidebythoselawsandpolicies.Probablymostimportantly,thisensuresafreetradeamongmembers,andfreemovementoffactorsofproduction（laborandcapital）.ThisopennessgivesachanceforagreatereconomicprosperityforallmembersoftheUnion.

26.,,Discusstheeconomicconsequencesofoutsourcingoroffshoringofservices,andexplainwhoisgainingandwhoislosingfromtheprocessofoutsourcing.Whyisoutsourcingsuchadebatableissue?

Outsourcingistheprocessofshiftingeconomicactivitiesabroad.Thisprocessistriggeredbythedesireoffirmstolowerthecostoflaborintheproductionprocess.Overall,itisbelievedthatoutsourcing,similarlytointernationaltrade,promotesglobaleconomicefficiency.Ithelpsfirmslowertheircostofproduction,andallowsthemtobringgoodstothefinalconsumeratlowerprices.Themainfearfromoutsourcingcomesfromworkersinoccupationsthataresubjecttooutsourcing:

callcenters,dataentry,andsoftwaredevelopment.

Chapter3WhyEverybodyTrades:

ComparativeAdvantage

1Basedonmercantilistthinking,governmentsshould:

Subsidizeandencourageimports.

1Subsidizeandencourageexports.

1Allowforfreetradeunencumberedbygovernmentregulationsandrestrictions.

1Both（a）and（b）.

1TheauthoroftheWealthofNationswas:

DavidRicardo.

1PaulSamuelson.

1AdamSmith.

1KarlMarx.

ANSWER:

1WhenAdamSmithpresentedhistheoryofabsoluteadvantage,hethoughtthatallvaluewasmeasuredintermsoftheamountof__________usedintheproductio