国际经济学英文版第八版章节练习第一章文档格式.docx

1、 E2） 2）Ancient theories of international economics from the 18th and 19th Centuries are not relevant to current policy analysis. are only of moderate relevance in todays modern international economy. are highly relevant in todays modern international economy. are the only theories that actually rele

2、vant to modern international economy. are not well understood by modern mathematically oriented theorists. C3） An important insight of international trade theory is that when countries exchange goods and services one with the other it is always beneficial to both countries. is usually beneficial to

3、both countries. is typically beneficial only to the low wage trade partner country. is typically harmful to the technologically lagging country. tends to create unemployment in both countries. B4） If there are large disparities in wage levels between countries, then trade is likely to be harmful to

4、both countries. trade is likely to be harmful to the country with the high wages. trade is likely to be harmful to the country with the low wages. trade is likely to be harmful to neither country. trade is likely to have no effect on either country. D5） Who sells what to whom has been a major preocc

5、upation of international economics. is not a valid concern of international economics. is not considered important for government foreign trade policy since such decisions are made in the private competitive market. is determined by political rather than economic factors. None of the above A6） The i

6、nsight that patterns of trade are primarily determined by international differences in labor productivity was first proposed by Adam Smith. David Hume. David Ricardo. Eli Heckscher. Lerner and Samuelson. C7） The euro, a common currency for most of the nations of Western Europe, was introduced before

7、 1900. before 1990. before 2000. in order to snub the pride of the U.S. None of the above. 8） For the 50 years preceding 1994, international trade policies have been governed by the World Trade Organization. by the International Monetary Fund. by the World. by an international treaty known as the Ge

8、neral Agreement on Tariffs and Trade （GATT）. D9） The international capital market is the place where you can rent earth moving equipment anywhere in the world. B） a set of arrangements by which individuals and firms exchange money now for promises to pay in the future. the arrangement where banks bu

9、ild up their capital by borrowing from the Central Bank. the place where emerging economies accept capital invested by banks. 10） Since 1994, trade rules have been enforced by the WTO. the G10. the GATT. The U.S. Congress. 11） Cost-benefit analysis of international trade is basically useless. is emp

10、irically intractable. focuses attention primarily on conflicts of interest within countries. focuses attention on conflicts of interests between countries. 12） An improvement in a countrys balance of payments means a decrease in its balance of payments deficit, or an increase in its surplus. In fact

11、 we know that a surplus in a balance of payments is good. is usually good. is probably good. may be considered bad. is always bad. D 13） The GATT was an international treaty. an international U.N. agency. an international IMF agency. a U.S. government agency. a collection of tariffs. A 14） Internati

12、onal economics can be divided into two broad sub-fields macro and micro. developed and less developed. monetary and barter. international trade and international money. static and dynamic. Chapter 2 World Trade: An Overview2.1 Who Trades with Whom?What percent of all world production of goods and se

13、rvices is exported to other countries?10% 30% 50% 100% The gravity model offers a logical explanation for the fact that trade between Asia and the U.S. has grown faster than NAFTA trade. trade in services has grown faster than trade in goods. trade in manufactures has grown faster than in agricultur

14、al products. Intra-European Union trade exceeds International Trade of the European Union. According to the gravity model, a characteristic that tends to affect the probability of trade existing between any two countries is their cultural affinity. the average weight/value of their traded goods. the

15、ir colonial-historical ties. the distance between them. the number of varieties produced on the average by their industries. Why does the gravity model work?Large economies became large because they were engaged in international trade. Large economies have relatively large incomes, and hence spend m

16、ore on government promotion of trade and investment. Large economies have relatively larger areas which raises the probability that a productive activity will take place within the borders of that country. Large economies tend to have large incomes and tend to spend more on imports. The two neighbor

17、s of the United States do a lot more trade with the United States than European economies of equal size. This contradicts predictions from gravity models. This is consistent with predictions from gravity models. This is relevant to any inferences that may be drawn from gravity models. This is becaus

18、e these neighboring countries have exceptionally large GDPs. Since World War II （the early 1950s）, the proportion of most countries production being used in some other country remained constant. increased. decreased. fluctuated widely with no clear trend. both A and D above. B Since World War II, th

19、e relative importance of raw materials, including oil, in total world trade fluctuated widely with no clear trend C In the current Post-Industrial economy, international trade in services （including banking and financial services） dominates world trade. does not exist. is relatively small. is relati

20、vely stagnant. In the pre-World War I period, the U.S. exported primarily manufactured goods. services. primary products including agricultural. technology intensive products. In the pre-World War I period, the United Kingdom exported primarily In the present, most of the exports from China are in C

21、hapter 3 Labor Productivity and Comparative Advantage: The Ricardian ModelTrade between two countries can benefit both countries if each country exports that good in which it has a comparative advantage. each country enjoys superior terms of trade. each country has a more elastic demand for the impo

22、rted goods. each country has a more elastic supply for the exported goods. Both C and D. In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least _ unit labor requirements one two three four five A country engaging in

23、trade according to the principles of comparative advantage gains from trade because it is producing exports indirectly more efficiently than it could alternatively. is producing imports indirectly more efficiently than it could domestically. is producing exports using fewer labor units. is producing

24、 imports indirectly using fewer labor units. B Given the information in the table above, if it is ascertained that Foreign uses prison-slave labor to produce its exports, then home should export cloth. export widgets. export both and import nothing. export and import nothing. All of the above. Given the information in the table above, if the Home economy suffered a meltdown, and the Unit Labor Requirements doubled to