国际经济学作业答案第一章Word格式文档下载.docx

国际经济学作业答案第一章Word格式文档下载.docx

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theUnitedStatesisa“Superpower.”

themilitarypoweroftheUnitedStatesmakesitlessdependentonanything.

theUnitedStatesinvestsinmanyothercountries.

manycountriesinvestintheUnitedStates.

A

Ancienttheoriesofinternationaleconomicsfromthe18thand19thCenturiesare:

notrelevanttocurrentpolicyanalysis.

areonlyofmoderaterelevanceintoday’smoderninternationaleconomy.

arehighlyrelevantintoday’smoderninternationaleconomy.

aretheonlytheoriesthatactuallyrelevanttomoderninternationaleconomy.

arenotwellunderstoodbymodernmathematicallyorientedtheorists.

Animportantinsightofinternationaltradetheoryisthatwhencountriesexchangegoodsandservicesonewiththeotherit

isalwaysbeneficialtobothcountries.

isusuallybeneficialtobothcountries.

istypicallybeneficialonlytothelowwagetradepartnercountry.

istypicallyharmfultothetechnologicallylaggingcountry.

tendstocreateunemploymentinbothcountries.

B

Iftherearelargedisparitiesinwagelevelsbetweencountries,then

tradeislikelytobeharmfultobothcountries.

tradeislikelytobeharmfultothecountrywiththehighwages.

tradeislikelytobeharmfultothecountrywiththelowwages.

tradeislikelytobeharmfultoneithercountry.

tradeislikelytohavenoeffectoneithercountry.

D

Benefitsofinternationaltradearelimitedto

tangiblegoods.

intangiblegoods.

allgoodsbutnotservices.

services.

Noneoftheabove.

Attemptstoexplainthepatternofinternationaltrade

havebeenamajorfocusofinternationaleconomists.

haveproventobehopeless.

haveproventobeatrivialexercise.

havebeenthepreoccupationofeconomicdevelopmenttheorists.

Whichofthefollowingdoesnotbelong?

NAFTA

UruguayRound

WorldTradeOrganization

NoneTariffBarriers

Cost-benefitanalysisofinternationaltrade

isbasicallyuseless.

isempiricallyintractable.

focusesattentiononconflictsofinterestwithincountries.

focusesattentiononconflictsofinterestsbetweencountries.

Animprovementinacountry’sbalanceofpaymentsmeansadecreaseinitsbalanceofpaymentsdeficit,oranincreaseinitssurplus.Infactweknowthatasurplusinabalanceofpayments

isgood.

isusuallygood.

isprobablygood.

maybeconsideredbad.

isalwaysbad.

Thestudyofexchangeratedeterminationisrelatively

difficult.

newandmathematical.

old.

obtuse.

TheGATTwas

aninternationaltreaty.

aninternationalU.N.agency.

aninternationalIMFagency.

aU.S.governmentagency.

acollectionoftariffs.

Theinternationaldebtcrisisofearly1982wasprecipitatedwhen_____couldnotpayitsinternationaldebts.

Russia

Mexico

Brazil

Malaysia

China

Internationaleconomicscanbedividedintotwobroadsub-fields:

macroandmicro.

developedandlessdeveloped.

monetaryandbarter.

internationaltradeandinternationalmoney.

staticanddynamic.

Aprimaryreasonwhynationsconductinternationaltradeisbecauseofdifferencesin

historicalperspective.

location.

resourceavailabilities.

tastes.

incomes.

Internationaltradeissometimesusedasasubstituteforallofthefollowingexcept

internationalmovementsofcapital.

internationalmovementsoflabor.

domesticproductionofthesamegoodsorservices.

domesticproductionofdifferentgoodsandservices.

Internationaltradeforcesdomesticfirmstobecomemorecompetitiveintermsof

theintroductionofnewproducts.

productdesignandquality.

productreliability.

productprice.

Alloftheabove.

Themovementtofreeinternationaltradeismostlikelytogenerateshort-termunemploymentinwhichindustries?

Industriesproducingnon-tradablegoods

Import-competingindustries

Exportindustries

Importsectors

Internationaltradeislogicallyassociatedwithwhichassumption?

Resourcesarelessmobileinternationallythandomestically.

Resourcesaremoremobileinternationallythanaregoods.

Importsshouldexceedexports.

Exportsshouldexceedimports.

Argumentsforfreetradearesometimesdisregardedbythepoliticalprocessbecause

economiststendtofavorhighlyprotecteddomesticmarkets.

economistshaveauniversallyaccepteddecisivepoweroverthepoliticaldecisionmechanism.

maximizingconsumerwelfaremaynotbeachiefpriorityforpoliticians.

thegainsoftradeareofparamountconcerntotypicalconsumers.

Increasedforeigncompetitiontendsto

increaseprofitsofdomesticimport-competingindustries.

placeconstraintsonthewagesofdomesticworkers.

inducefallingoutputperworkerfordomesticworkers.

intensityinflationarypressuresathome

____________istheabilityofafirmtodesign,produce,andmarketgoodsandservicesthatarebetterand/orcheaperthanthoseofotherfirms.

Competitiveness

Protectionism

Comparativeadvantage

Interventionism

Foracountrytomaximizeitsproductivityinaglobaleconomy,itrequires

onlyimports.

onlyexports.

bothexportsandimports.

neitherexportsnorimports.

foreigndirectinvestment.

Proponentsoffreetradeclaimallofthefollowingasadvantagesexcept

relativelyhighwagelevelsforalldomesticworkers.

awiderselectionofproductsforconsumers.

increasedcompetitionforworldproducers.

theutilizationofthemostefficientproductionprocesses.

Afirm’s____,relativetothatofotherfirms,isgenerallyregardedasthemostimportantdeterminantofcompetitiveness.

incomelevel

tastes

preferences

productivity

environmentalregulation

Onelikelyeffectofmovingtofreeinternationaltradeisthat

amonopolyinthehomemarketbecomesanoligopolyintheworldmarket.

anoligopolyinthehomemarketbecomesamonopolyintheworldmarket.

apurelycompetitivefirmbecomesanoligopolist.

apurelycompetitivefirmbecomesamonopolist.

Internationaltradeingoodsandservicestendsto

increasealldomesticcostsandprices.

keepalldomesticcostsandpricesatthesamelevel.

lessentheamountofcompetitionfacinghomemanufactures.

increasetheamountofcompetitionfacinghomemanufacturers.

Therealincomeofdomesticproducersandconsumersmaybeincreasedby

technologicalprogress,butnotinternationaltrade.

internationaltrade,butnottechnologicalprogress.

neithertechnologicalprogressnorinternationaltrade.

bothtechnologicalprogressandinternationaltrade.

Asuddenshiftfromimporttariffstofreetrademaycauseshort-termunemploymentin

importcompetingindustries.

exportingindustries.

industriesthatneitherimportnorexport.

serviceindustries

Empiricalstudiesindicatethatproductivityperformanceis

directlyrelatedtoglobalizationofindustries.

inverselyrelatedtoglobalizationofindustries.

notrelatedtoglobalizationofindustries.

Anyoftheabove.

Aclosedeconomyisoneinwhich

importsexactlyequalexports.

domesticfirmsinvestinforeigncountries.

thehomeeconomyisisolatedfromforeigntradeorinvestment.

ThedominanttradingnationintheworldmarketsinceWorldWarIIwas

theUnitedKingdom.

theUnitedStates.

Japan.

Germany.

China.

Empiricalstudiesindicatethat_______________bestenhancesproductivitygrowthforlocalindustries

localcompetition

cut-throatcompetition

destabilizingcompetition

globalcompetition

Highlevelsofopennessaremostlikelyassociatedwithacountry’s

politicalorientation.

size.

resourceavailability.

historicalassociationwithforeignentanglingalliances.

⏹ EssayQuestions

Itisarguedthatsmallcountriestendhavemoreopeneconomiesthanlargeones.Isthisempiricallyverified?

Whatarethelogicalunderpinningsofthisargument?

Yes.Theydonothavesufficientresourcestosatisfyconsumptionneeds;

andalsodonothaveasufficientlylargemarkettoenabletheirindustriestoavailthemselvesofscaleeconomypossibilities.

Anotheranswerwouldrelyonalocationargument.Assumethatthe“natural”marketforanygivenplantisacirclewitharadiusofnmileswiththeplantatitscenter.Assumingthattheproductionplantsarelocatedrandomlythroughoutthecountry,thentheprobabilitythatthetypicalcircularmarketwillencompasssomeforeigncountryisgreaterthesmalleristheco