曼昆经济学 课后答案Key to Ch9ch10.docx

曼昆经济学 课后答案Key to Ch9ch10.docx

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曼昆经济学课后答案KeytoCh9ch10

Ch9

SOLUTIONSTOTEXTPROBLEMS:

QuickQuizzes

1.Sincewoolsuitsarecheaperinneighboringcountries,Autarkawouldimportsuitsifitweretoallowfreetrade.

2.Figure9-1showsthesupplyanddemandforwoolsuitsinAutarka.Withnotrade,thepriceofsuitsis3ouncesofgold,consumersurplusisareaA,producersurplusisareaB+C,andtotalsurplusisareaA+B+C.Whentradeisallowed,thepricefallsto2ouncesofgold,consumersurplusrisestoA+B+D（anincreaseofB+D）,producersurplusfallstoC（adeclineofB）,sototalsurplusrisestoA+B+C+D（anincreaseofD）.Atariffonsuitimportswouldreducetheincreaseinconsumersurplus,reducethedeclineinproducersurplus,andreducethegainintotalsurplus.

Figure9-1

3.Lobbyistsforthetextileindustrymightmakefiveargumentsinfavorofabanontheimportofwoolsuits:

（1）importsofwoolsuitsdestroydomesticjobs;

（2）thewool-suitindustryisvitalfornationalsecurity;（3）thewool-suitindustryisjuststartingandneedsprotectionfromforeigncompetitionuntilitgetsstarted;（4）othercountriesareunfairlysubsidizingtheirwool-suitindustries;and（5）thebanonwoolsuitscanbeusedasabargainingchipininternationalnegotiations.

Indefendingfreetradeinwoolsuits,youcouldarguethat:

（1）freetradecreatesjobsinsomeindustriesevenasitdestroysjobsinthewool-suitindustry,andallowsAutarkatoenjoyahigherstandardofliving;

（2）theroleofwoolsuitsforthemilitaryisprobablyexaggerated;（3）governmentprotectionisn’tneededforanindustrytogrowonitsown;（4）itwouldbegoodforAutarkatobuywoolsuitsatasubsidizedprice;and（5）threatsagainstfreetrademaybackfire,leadingtolowertradeandlowereconomicwelfareforeveryone.

QuestionsforReview

1.Ifthedomesticpricethatprevailswithoutinternationaltradeisabovetheworldprice,thecountrydoesnothaveacomparativeadvantageinproducingthegood.Ifthedomesticpriceisbelowtheworldprice,thecountryhasacomparativeadvantageinproducingthegood.

2.Ifacountryhasacomparativeadvantageinproducingagood,itwillbecomeanexporterwhentradeisallowed.Ifacountrydoesnothaveacomparativeadvantageinproducingagood,itwillbecomeanimporterwhentradeisallowed.

3.Figure9-2illustratessupplyanddemandforanimportingcountry.Beforetradeisallowed,consumersurplusisareaAandproducersurplusisareaB+C.Aftertradeisallowed,consumersurplusisareaA+B+DandproducersurplusisareaC.ThechangeintotalsurplusisanincreasebyareaD.

Figure9-2

4.Atariffisataxongoodsproducedabroadandsolddomestically.Tariffshavenoeffectsifacountryisanexporterofagood.Ifacountryisanimporterofagood,atariffreducesthequantityofimportsandmovesthedomesticmarketclosertoitsequilibriumwithouttrade,increasingthepriceofthegood,reducingconsumersurplusandtotalsurplus,whileraisingproducersurplusandgovernmentrevenue.

5.Animportquotaisalimitonthequantityofagoodthatcanbeproducedabroadandsolddomestically.Itseconomiceffectsaresimilartothoseofatariff,inthatanimportquotareducesthequantityofimportsandmovesthedomesticmarketclosertoitsequilibriumwithouttrade,increasingthepriceofthegood,reducingconsumersurplusandtotalsurplus,whileraisingproducersurplus.However,atariffraisesrevenueforthegovernmentwhileanimportquotacreatessurplusforlicenseholders.

6.Theargumentsgiventosupporttraderestrictionsare:

（1）tradedestroysjobs;

（2）industriesthreatenedwithcompetitionmaybevitalfornationalsecurity;（3）newindustriesneedtraderestrictionstohelpthemgetstarted;（4）somecountriesunfairlysubsidizetheirfirms,socompetitionisn'tfair;and（5）traderestrictionscanbeusefulbargainingchips.Economistsdisagreewiththesearguments:

（1）trademaydestroysomejobs,butitcreatesotherjobs;

（2）argumentsaboutnationalsecuritytendtobeexaggerated;（3）thegovernmentcan'teasilyidentifynewindustriesthatareworthprotecting;（4）ifcountriessubsidizetheirexports,doingsosimplybenefitsconsumers;and（5）bargainingovertradeisariskybusiness,sinceitmaybackfire,makingthecountryworseoffwithouttrade.

7.Aunilateralapproachtoachievingfreetradeoccurswhenacountryremovestraderestrictionsonitsown.Underamultilateralapproach,acountryreducesitstraderestrictionswhileothercountriesdothesame,basedonanagreementreachedthroughbargaining.TheunilateralapproachwastakenbyGreatBritaininthe1800sandbyChileandSouthKoreainrecentyears.ExampleofthemultilateralapproachincludeNAFTAin1993andtheGATTnegotiationssinceWorldWarII.

ProblemsandApplications

1.a.InFigure9-3,withnointernationaltradetheequilibriumpriceisP1andtheequilibriumquantityisQ1.ConsumersurplusisareaAandproducersurplusisareaB+C,sototalsurplusisA+B+C.

Figure9-3

b.WhentheU.S.orangemarketisopenedtotrade,thenewequilibriumpriceisPW,thequantityconsumedisQD,thequantityproduceddomesticallyisQS,andthequantityimportedisQD-QS.ConsumersurplusincreasesfromAtoA+B+D+E.ProducersurplusdecreasesfromB+CtoC.TotalsurpluschangesfromA+B+CtoA+B+C+D+E,anincreaseofD+E.

2.a.Figure9-4illustratestheU.S.marketforwine,wheretheworldpriceofwineisP1.Thefollowingtableillustratestheresultsundertheheading"P1."

P1

P2

CHANGE

ConsumerSurplus

A+B+D+E

A+D

–（B+E）

ProducerSurplus

C

B+C

+B

TotalSurplus

A+B+C+D+E

A+B+C+D

–E

Figure9-4

b.TheshiftintheGulfStreamdestroyssomeofthegrapeharvest,raisingtheworldpriceofwinetoP2.Thetableshowstheeffectsonconsumer,producer,andtotalsurplus,undertheheading"P2"andthechangeinthesurplusmeasuresundertheheading"CHANGE."Consumerslose,producerswin,andtheUnitedStatesasawholeisworseoff.

3.Figure9-5showsthemarketforcottonincountriesAandB.Notethattheworldpriceofcottonisthesameinbothcountries.CountryAimportscottonfromcountryB.Thetablebelowshowsthattotalsurplusishigherinbothcountries.However,incountryA,consumersarebetteroffandproducersareworseoff,whileincountryB,consumersareworseoffandproducersarebetteroff.

Figure9-5

COUNTRYA

BeforeTrade

AfterTrade

CHANGE

ConsumerSurplus

C

C+D+F

+（D+F）

ProducerSurplus

D+E

E

–D

TotalSurplus

C+D+E

C+D+E+F

+F

COUNTRYB

BeforeTrade

AfterTrade

CHANGE

ConsumerSurplus

G+H

G

–H

ProducerSurplus

I

H+I+J

+（H+J）

TotalSurplus

G+H+I

G+H+I+J

+J

4.TheimpactofatariffonimportedautosisshowninFigure9-6.Withoutthetariff,thepriceofanautoisPW,thequantityproducedintheUnitedStatesisQ1S,andthequantitypurchasedintheUnitedStatesisQ1D.TheUnitedStatesimportsautosinthequantityQ1D-Q1S.TheimpositionofthetariffraisesthepriceofautostoPW+t,causinganincreaseinquantitysuppliedbyU.S.producerstoQ2SandadeclineinthequantitydemandedtoQ2D,thusreducingthenumberofimportstoQ2D-Q2S.Thetableshowstheimpactonconsumersurplus,producersurplus,governmentrevenue,andtotalsurplusbothbefore（OLD）andafter（NEW）theimpositionofthetariff,aswellasthechange（CHANGE）.SinceconsumersurplusdeclinesbyC+D+E+FwhileproducersurplusrisesbyCandgovernmentrevenuerisesbyE,deadweightlossisD+F.ThelossofconsumersurplusintheamountC+D+E+Fissplitupasfollows:

Cgoestoproducers,Egoestothegovernment,andD+Fisdeadweightloss.

Figure9-6

BeforeTariff

AfterTariff

CHANGE

ConsumerSurplus

A+B+C+D+E+F

A+B

–（C+D+E+F）

ProducerSurplus

G

C+G

+C

GovernmentRevenue

0

E

+E

TotalSurplus

A+B+C+D+E+F+G

A+B+C+E+G

–（D+F）

5.a.TheworldwheatpricemustbebelowtheU.S.no-tradeprice,becausewheatfarmersopposeNAFTA.Theyopposeitbecausetheyknowthatwhentradeisallowed,theU.S.priceofwheatwilldeclinetotheworldprice,andtheirproducersurpluswillfall.TheworldcornpricemustbeabovetheU.S.no-tradeprice,sincecornfarmerssupportNAFTA.Theyknowthatwhentradeisallowed,theU.S.priceofcornwillrisetotheworldprice,andtheirproducersurpluswillrise.

b.Consideringbothmarketstogether,NAFTAmakeswheatfarmersworseoffandcornfarmersbetteroff,soitisn'tclearwhetherfarmersasawholegainorlose.Similarly,consumersofwheatgain（sincethepriceofwheatwilldecline）andconsumersofcornlose（sincethepriceofcornwillrise）,soconsumersasawholemayeithergainorlose.However,weknowthatthetotalgainsfromtradearepositive,sotheUnitedStatesasawholeisbetteroff.

6.ThetaxonwinefromCaliforniaisjustlikeatariffimposedbyonecountryonimportsfromanother.Asaresult,WashingtonproducerswouldbebetteroffandWashingtonconsumerswouldbeworseoff.ThehigherpriceofwineinWashingtonmeansproducerswouldproducemorewine,sotheywouldhiremoreworkers.TaxrevenuewouldgotothegovernmentofWashington.Sobothclaimsaretrue,butit'sbadpolicybecausethelossestoWashingtonconsumersexceedthegainstoproducers.

7.SenatorHollingsiscorrectthatthepriceofclothingistheworldprice.Butthatpriceislowerthanitwouldbeintheabsenceoftrade,soconsumersurplusishigherthanitwouldbewithouttrade.Thusconsumersdobenefitfromlower-pricedimports.

8.a.Insupportofthepolicythatthegovernmentshouldnotallowimportsifforeignfirmsaresellingbelowtheircostsofproductio