国际经济与贸易题目英语版.docx

国际经济与贸易题目英语版.docx

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国际经济与贸易题目英语版

CHAPTER1

THEINTERNATIONALECONOMY

MULTIPLE-CHOICEQUESTIONS

1.Aprimaryreasonwhynationsconductinternationaltradeisbecause:

b

a.Somenationsprefertoproduceonethingwhileothersproduceotherthings

b.Resourcesarenotequallydistributedamongalltradingnations

c.Tradeenhancesopportunitiestoaccumulateprofits

d.Interestratesarenotidenticalinalltradingnations

2.Amainadvantageofspecializationresultsfrom:

a

a.Economiesoflarge-scaleproduction

b.Thespecializingcountrybehavingasamonopoly

c.Smallerproductionrunsresultinginlowerunitcosts

d.Highwagespaidtoforeignworkers

3.Internationaltradeingoodsandservicesissometimesusedasasubstituteforallofthefollowingexcept:

d

a.Internationalmovementsofcapital

b.Internationalmovementsoflabor

c.Domesticproductionofthesamegoodsandservices

d.Domesticproductionofdifferentgoodsandservices

4.Ifanationhasanopeneconomy,itmeansthatthenation:

d

a.Allowsprivateownershipofcapital

b.Hasflexibleexchangerates

c.Hasfixedexchangerates

d.Conductstradewithothercountries

5.Internationaltradeforcesdomesticfirmstobecomemorecompetitiveintermsof:

d

a.Theintroductionofnewproducts

b.Productdesignandquality

c.Productprice

d.Alloftheabove

6.Themovementtofreeinternationaltradeismostlikelytogenerateshort-termunemploymentinwhichindustries?

b

a.Industriesinwhichthereareneitherimportsnorexports

b.Import-competingindustries

c.Industriesthatselltodomesticandforeignbuyers

d.Industriesthatselltoonlyforeignbuyers

7.Internationaltradeisbasedontheideathat:

d

a.Exportsshouldexceedimports

b.Importsshouldexceedexports

c.Resourcesaremoremobileinternationallythanaregoods

d.Resourcesarelessmobileinternationallythanaregoods

8.Argumentsforfreetradearesometimesdisregardedbypoliticiansbecause:

b

a.Maximizingdomesticefficiencyisnotconsideredimportant

b.Maximizingconsumerwelfaremaynotbeachiefpriority

c.Thereexistsoundeconomicreasonsforkeepingone’seconomyisolatedfromothereconomies

d.Economiststendtofavorhighlyprotecteddomesticmarkets

9.Howmuchphysicaloutputaworkerproducersinanhour’sworkdependson:

d

a.Theworker’smotivationandskill

b.Thetechnology,plant,andequipmentinuse

c.Howeasytheproductistomanufacture

d.Alloftheabove

10.ThelargestamountoftradewiththeUnitedStatesinrecentyearshasbeenconductedby:

a

a.Canada

b.Germany

c.Mexico

d.UnitedKingdom

11.Increasedforeigncompetitiontendsto:

c

a.Intensifyinflationarypressuresathome

b.Inducefallingoutputperworker-hourfordomesticworkers

c.Placeconstraintsonthewagesofdomesticworkers

d.Increaseprofitsofdomesticimport-competingindustries

12.______a____istheabilityofafirm/industry,underfreeandfairmarketconditions,todesign,produce,andmarketgoodsandservicesthatarebetterand/orcheaperthanthoseofotherfirms/industries.

a.Competitiveness

b.Protectionism

c.Comparativeadvantage

d.Absoluteadvantage

13.Afirm’s______d____,relativetothatofotherfirms,isgenerallyregardedasthemostimportantdeterminantofcompetitiveness.

a.Incomelevel

b.Tastesandpreferences

c.Environmentalregulation

d.Productivity

14.Freetradersmaintainthatanopeneconomyisadvantageousinthatitprovidesallofthefollowingexcept:

d

a.Increasedcompetitionforworldproducers

b.Awiderselectionofproductsforconsumers

c.Theutilizationofthemostefficientproductionmethods

d.Relativelyhighwagelevelsforalldomesticworkers

15.RecentpressuresforprotectionismintheUnitedStateshavebeenmotivatedbyallofthefollowingexcept:

b

a.U.S.firmsshippingcomponentproductionoverseas

b.HighprofitlevelsforAmericancorporations

c.SluggishratesofproductivitygrowthintheUnitedStates

d.HighunemploymentratesamongAmericanworkers

TRUE-FALSEQUESTIONS

F1.ThetwomostimportanttradingpartnersoftheUnitedStatesareCanadaandMexico.

F2.TheUnitedStatesexportsalargerpercentageofitsgrossdomesticproductthanJapan,Germany,andCanada.

T3.Openingtheeconomytointernationaltradetendstolesseninflationarypressuresathome.

T4.Thebenefitsofinternationaltradeaccrueintheformsoflowerdomesticprices,developmentofmoreefficientmethodsandnewproducts,andagreaterrangeofconsumptionchoices.

F5.Inanopentradingsystem,acountrywillimportthosecommoditiesthatitproducesatrelativelylowcostwhileexportingcommoditiesthatcanbeproducedatrelativelyhighcost.

T6.Althoughfreetradeprovidesbenefitsforconsumers,itisoftenarguedthatimportprotectionshouldbeprovidedtodomesticproducersofstrategicgoodsandmaterialsvitaltothenation’ssecurity.

T7.Inthelongrun,competitivenessdependsonanindustry’snaturalresources,itsstockofmachineryandequipment,andtheskillofitsworkersincreatinggoodsthatpeoplewanttobuy.

T8.Ifanationhasanopeneconomy,itmeansthatthenationallowsprivateownershipofcapital.

F9.Increasedforeigncompetitiontendstoincreaseprofitsofdomesticimport-competingcompanies.

F10.RestrictivetradepolicieshaveresultedinU.S.producersofmineralsandmetalssupplyingalloftheU.S.consumers’needs.

ANSWERS

AnswerstoMultiple-ChoiceQuestions

1

.b

2.a

3.d

4.d

5.d

6.b

7.d

8.b

9.d

10.a

11.c

12.a

13.d

14.d

15.b

AnswerstoTrue-FalseQuestions

1.F

2.F

3.T

4.T

5.F

6.T

7.T

8.F

9.F

10.F

CHAPTER2

FOUNDATIONSOFMODERNTRADETHEORY

MULTIPLE-CHOICEQUESTIONS

1.Themercantilistswouldhaveobjectedto:

a.Exportpromotionpoliciesinitiatedbythegovernment

b.Theuseoftariffsorquotastorestrictimports

c.Tradepoliciesdesignedtoaccumulategoldandotherpreciousmetals

d.Internationaltradebasedonopenmarkets

2.Unlikethemercantilists,AdamSmithmaintainedthat:

a.Tradebenefitsonenationonlyattheexpenseofanothernation

b.Governmentcontroloftradeleadstomaximumeconomicwelfare

c.Allnationscangainfromfreeinternationaltrade

d.Theworld’soutputofgoodsmustremainconstantovertime

3.ThetradingprincipleformulatedbyAdamSmithmaintainedthat:

a.Internationalpricesaredeterminedfromthedemandsideofthemarket

b.Differencesinresourceendowmentsdeterminecomparativeadvantage

c.Differencesinincomelevelsgovernworldtradepatterns

d.Absolutecostdifferencesdeterminetheimmediatebasisfortrade

4.UnlikeAdamSmith,DavidRicardo’stradingprincipleemphasizesthe:

a.Demandsideofthemarket

b.Supplysideofthemarket

c.Roleofcomparativecosts

d.Roleofabsolutecosts

5.Whenanationrequiresfewerresourcesthananothernationtoproduceaproduct,thenationissaidtohavea（an）:

a.Absoluteadvantageintheproductionoftheproduct

b.Comparativeadvantageintheproductionoftheproduct

c.Lowermarginalrateoftransformationfortheproduct

d.Loweropportunitycostofproducingtheproduct

6.Accordingtotheprincipleofcomparativeadvantage,specializationandtradeincreaseanation’stotaloutputsince:

a.Resourcesaredirectedtotheirhighestproductivity

b.Theoutputofthenation’stradingpartnerdeclines

c.Thenationcanproduceoutsideofitsproductionpossibilitiescurve

d.Theproblemofunemploymentiseliminated

7.Inatwo-product,two-countryworld,internationaltradecanleadtoincreasesin:

a.Consumerwelfareonlyifoutputofbothproductsisincreased

b.Outputofbothproductsandconsumerwelfareinbothcountries

c.Totalproductionofbothproducts,butnotconsumerwelfareinbothcountries

d.Consumerwelfareinbothcountries,butnottotalproductionofbothproducts

8.Asaresultofinternationaltrade,specializationinproductiontendstobe:

a.Completewithconstantcosts—completewithincreasingcosts

b.Completewithconstantcosts—incompletewithincreasingcosts

c.Incompletewithconstantcosts—completewithincreasingcosts

d.Incompletewithconstantcosts—incompletewithincreasingcosts

9.Anationthatgainsfromtradewillfinditsconsumptionpointbeinglocated:

a.Insideitsproductionpossibilitiescurve

b.Alongitsproductionpossibilitiescurve

c.Outsideitsproductionpossibilitiescurve

d.Noneoftheabove

UsingthedataofTable2.1,answerQuestions10through15.

Table2.1. OutputPossibilitiesfortheU.S.andtheU.K.

OutputperWorkerperDay

CountryTonsofSteelTelevisions

UnitedStates545

UnitedKingdom1020

10.RefertoTable2.1.TheUnitedStateshastheabsoluteadvantageintheproductionof:

a.Steel

b.Televisions

c.Bothsteelandtelevisions

d.Neithersteelnortelevisions

11.RefertoTable2.1.TheUnitedKingdomhasacomparativeadvantageintheproductionof:

a.Steel

b.Televisions

c.Bothsteelandtelevisions

d.Neithersteelnortelevisions

12.RefertoTable2.1.IftradeopensupbetweentheUnitedStatesandtheUnitedKingdom,Americanfirmsshouldspecializeinproducing:

a.Steel

b.Televisions

c.Bothsteelandtelevisions

d.Neithersteelnortelevisions

13.RefertoTable2.1.TheopportunitycostofproducingonetonofsteelintheUnitedStatesis:

a.3televisions

b.10televisions

c.20televisions

d.45televisions

14.RefertoTable2.1.MutuallyadvantageoustradewilloccurbetweentheUnitedStatesandtheUnitedKingdomsolongasonetonofsteeltradesfor:

a.Atleast1television,butnomorethan2televisions

b.Atleast2televisions,butnomorethan3televisions

c.Atleast3te