国际经济学英文版第八版章节练习第一章文档格式.docx
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E
2)
2)Ancienttheoriesofinternationaleconomicsfromthe18thand19thCenturiesare
notrelevanttocurrentpolicyanalysis.
areonlyofmoderaterelevanceintoday’smoderninternationaleconomy.
arehighlyrelevantintoday’smoderninternationaleconomy.
aretheonlytheoriesthatactuallyrelevanttomoderninternationaleconomy.
arenotwellunderstoodbymodernmathematicallyorientedtheorists.
C
3)
Animportantinsightofinternationaltradetheoryisthatwhencountriesexchangegoodsandservicesonewiththeotherit
isalwaysbeneficialtobothcountries.
isusuallybeneficialtobothcountries.
istypicallybeneficialonlytothelowwagetradepartnercountry.
istypicallyharmfultothetechnologicallylaggingcountry.
tendstocreateunemploymentinbothcountries.
B
4)
Iftherearelargedisparitiesinwagelevelsbetweencountries,then
tradeislikelytobeharmfultobothcountries.
tradeislikelytobeharmfultothecountrywiththehighwages.
tradeislikelytobeharmfultothecountrywiththelowwages.
tradeislikelytobeharmfultoneithercountry.
tradeislikelytohavenoeffectoneithercountry.
D
5)
Whosellswhattowhom
hasbeenamajorpreoccupationofinternationaleconomics.
isnotavalidconcernofinternationaleconomics.
isnotconsideredimportantforgovernmentforeigntradepolicysincesuchdecisionsaremadeintheprivatecompetitivemarket.
isdeterminedbypoliticalratherthaneconomicfactors.
Noneoftheabove
A
6)
Theinsightthatpatternsoftradeareprimarilydeterminedbyinternationaldifferencesinlaborproductivitywasfirstproposedby
AdamSmith.
DavidHume.
DavidRicardo.
EliHeckscher.
LernerandSamuelson.
C
7)
Theeuro,acommoncurrencyformostofthenationsofWesternEurope,wasintroduced
before1900.
before1990.
before2000.
inordertosnubtheprideoftheU.S.
Noneoftheabove.
8)
Forthe50yearspreceding1994,internationaltradepolicieshavebeengoverned
bytheWorldTradeOrganization.
bytheInternationalMonetaryFund.
bytheWorld.
byaninternationaltreatyknownastheGeneralAgreementonTariffsandTrade(GATT).
D
9)
Theinternationalcapitalmarketis
theplacewhereyoucanrentearthmovingequipmentanywhereintheworld.
B)asetofarrangementsbywhichindividualsandfirmsexchangemoneynowforpromisestopayinthefuture.
thearrangementwherebanksbuilduptheircapitalbyborrowingfromtheCentralBank.
theplacewhereemergingeconomiesacceptcapitalinvestedbybanks.
10)
Since1994,traderuleshavebeenenforcedby
theWTO.
theG10.
theGATT.
TheU.S.Congress.
11)
Cost-benefitanalysisofinternationaltrade
isbasicallyuseless.
isempiricallyintractable.
focusesattentionprimarilyonconflictsofinterestwithincountries.
focusesattentiononconflictsofinterestsbetweencountries.
12)
Animprovementinacountry’sbalanceofpaymentsmeansadecreaseinitsbalanceofpaymentsdeficit,oranincreaseinitssurplus.Infactweknowthatasurplusinabalanceofpayments
isgood.
isusuallygood.
isprobablygood.
maybeconsideredbad.
isalwaysbad.
D
13)
TheGATTwas
aninternationaltreaty.
aninternationalU.N.agency.
aninternationalIMFagency.
aU.S.governmentagency.
acollectionoftariffs.
A
14)
Internationaleconomicscanbedividedintotwobroadsub-fields
macroandmicro.
developedandlessdeveloped.
monetaryandbarter.
internationaltradeandinternationalmoney.
staticanddynamic.
Chapter2
WorldTrade:
AnOverview
2.1
WhoTradeswithWhom?
Whatpercentofallworldproductionofgoodsandservicesisexportedtoothercountries?
10%
30%
50%
100%
Thegravitymodeloffersalogicalexplanationforthefactthat
tradebetweenAsiaandtheU.S.hasgrownfasterthanNAFTAtrade.
tradeinserviceshasgrownfasterthantradeingoods.
tradeinmanufactureshasgrownfasterthaninagriculturalproducts.
Intra-EuropeanUniontradeexceedsInternationalTradeoftheEuropeanUnion.
Accordingtothegravitymodel,acharacteristicthattendstoaffecttheprobabilityoftradeexistingbetweenanytwocountriesis
theirculturalaffinity.
theaverageweight/valueoftheirtradedgoods.
theircolonial-historicalties.
thedistancebetweenthem.
thenumberofvarietiesproducedontheaveragebytheirindustries.
Whydoesthegravitymodelwork?
Largeeconomiesbecamelargebecausetheywereengagedininternationaltrade.
Largeeconomieshaverelativelylargeincomes,andhencespendmoreongovernmentpromotionoftradeandinvestment.
Largeeconomieshaverelativelylargerareaswhichraisestheprobabilitythataproductiveactivitywilltakeplacewithinthebordersofthatcountry.
Largeeconomiestendtohavelargeincomesandtendtospendmoreonimports.
ThetwoneighborsoftheUnitedStatesdoalotmoretradewiththeUnitedStatesthanEuropeaneconomiesofequalsize.
Thiscontradictspredictionsfromgravitymodels.
Thisisconsistentwithpredictionsfromgravitymodels.
Thisisrelevanttoanyinferencesthatmaybedrawnfromgravitymodels.
ThisisbecausetheseneighboringcountrieshaveexceptionallylargeGDPs.
SinceWorldWarII(theearly1950s),theproportionofmostcountries'
productionbeingusedinsomeothercountry
remainedconstant.
increased.
decreased.
fluctuatedwidelywithnocleartrend.
bothAandDabove.
B
SinceWorldWarII,therelativeimportanceofrawmaterials,includingoil,intotalworldtrade
fluctuatedwidelywithnocleartrend
C
InthecurrentPost-Industrialeconomy,internationaltradeinservices(includingbankingandfinancialservices)
dominatesworldtrade.
doesnotexist.
isrelativelysmall.
isrelativelystagnant.
Inthepre-WorldWarIperiod,theU.S.exportedprimarily
manufacturedgoods.
services.
primaryproductsincludingagricultural.
technologyintensiveproducts.
Inthepre-WorldWarIperiod,theUnitedKingdomexportedprimarily
Inthepresent,mostoftheexportsfromChinaarein
Chapter3
LaborProductivityandComparativeAdvantage:
TheRicardianModel
Tradebetweentwocountriescanbenefitbothcountriesif
eachcountryexportsthatgoodinwhichithasacomparativeadvantage.
eachcountryenjoyssuperiortermsoftrade.
eachcountryhasamoreelasticdemandfortheimportedgoods.
eachcountryhasamoreelasticsupplyfortheexportedgoods.
BothCandD.
Inordertoknowwhetheracountryhasacomparativeadvantageintheproductionofoneparticularproductweneedinformationonatleast________unitlaborrequirements
one
two
three
four
five
Acountryengagingintradeaccordingtotheprinciplesofcomparativeadvantagegainsfromtradebecauseit
isproducingexportsindirectlymoreefficientlythanitcouldalternatively.
isproducingimportsindirectlymoreefficientlythanitcoulddomestically.
isproducingexportsusingfewerlaborunits.
isproducingimportsindirectlyusingfewerlaborunits.
B
Giventheinformationinthetableabove,ifitisascertainedthatForeignusesprison-slavelabortoproduceitsexports,thenhomeshould
exportcloth.
exportwidgets.
exportbothandimportnothing.
exportandimportnothing.
Alloftheabove.
Giventheinformationinthetableabove,iftheHomeeconomysufferedameltdown,andtheUnitLaborRequirementsdoubledto