国际经济学作业答案第五章汇编.docx

1、国际经济学作业答案第五章汇编1Chapter 5 The Standard Trade Model1Multiple Choice Questions1. The concept “terms of trade” means(a) the amount of exports sold by a country.(b) the price conditions bargained for in international markets.(c) the price of a countrys exports divided by the price of its imports.(d) the

2、quantities of imports received in free trade.(e) None of the above.Answer: C2. A country cannot produce a mix of products with a higher value than where(a) the isovalue line intersects the production possibility frontier.(b) the isovalue line is tangent to the production possibility frontier.(c) the

3、 isovalue line is above the production possibility frontier.(d) the isovalue line is below the production possibility frontier.(e) the isovalue line is tangent with the indifference curve.Answer: B3. Tastes of individuals are represented by(a) the production possibility frontier.(b) the isovalue lin

4、e.(c) the indifference curve.(d) the production function.(e) None of the above.Answer: C4. If PC/PF were to increase in the international marketplace, then(a) all countries would be better off.(b) the terms of trade of cloth exporters improve.(c) the terms of trade of food exporters improve.(d) the

5、terms of trade of all countries improve.(e) None of the aboveAnswer: B5. If PC/PF were to increase,(a) the cloth exporter would increase the quantity of cloth exports.(b) the cloth exporter would increase the quantity of cloth produced.(c) the food exporter would increase the quantity of food export

6、s.(d) Both (a) and (c).(e) None of the above.Answer: B6. If PC/PF were to increase,(a) world relative quantity of cloth supplied and demanded would increase.(b) world relative quantity of cloth supplied and demanded would decrease.(c) world relative quantity of cloth supplied would increases.(d) wor

7、ld relative quantity of cloth demanded would decrease.(e) None of the above.Answer: C7. When the production possibility frontier shifts out relatively more in one direction, we have(a) biased growth.(b) unbiased growth.(c) immiserizing growth.(d) balanced growth.(e) imbalanced growth.Answer: A8. Exp

8、ort-biased growth in Country H will(a) improve the terms of trade of Country H.(b) trigger anti-bias regulations of the WTO.(c) worsen the terms of trade of Country F (the trade partner).(d) improve the terms of trade of Country F.(e) decrease economic welfare in Country H.Answer: D9. Immiserizing g

9、rowth is(a) likely to occur if the exporting country is poor.(b) likely to occur if the exporting country is rich.(c) likely to occur when terms of trade change.(d) likely to occur if relative supplies are elastic.(e) None of the above.Answer: E10. If the U.S. Agency for International Development tr

10、ansfers funds to poor countries in Sub-Saharan Africa, this must(a) worsen the U.S. terms of trade.(b) improve the U.S. terms of trade.(c) worsen the terms of trade of the African aid recipients.(d) improve the terms of trade of the African aid recipients.(e) None of the above.Answer: E11. If the po

11、or USAID recipient countries have a higher marginal propensity to consume each and every product than does the United States, then such aid will(a) worsen the U.S. terms of trade.(b) improve the U.S. terms of trade.(c) leave the world terms of trade unaffected.(d) worsen the terms of trade of both d

12、onor and recipient countries.(e) None of the above.Answer: B12. If the U.S. has a higher marginal propensity to consume (MPC) imports as compared to both its MPC for exportables and nontradables, then such aid will(a) worsen the U.S. terms of trade.(b) improve the U.S. terms of trade.(c) leave the w

13、orld terms of trade unaffected.(d) worsen the terms of trade of both donor and recipient countries.(e) None of the above.Answer: B13. If the U.S. (a large country) imposes a tariff on its imported good, this will tend to(a) have no effect on terms of trade.(b) improve the terms of trade of all count

14、ries.(c) improve the terms of trade of the United States.(d) cause a deterioration of U.S. terms of trade.(e) raise the world price of the good imported by the United States.Answer: C14. If the U.S. (a large country) imposes a tariff on its imported good, this will(a) have no effect on economic welf

15、are.(b) improve the terms of trade of all countries.(c) improve the economic welfare of the United States.(d) harm the economic welfare of U.S. trading partners.(e) None of the aboveAnswer: D15. A country will be able to consume a bundle which is not attainable solely from domestic production only i

16、f(a) the world terms of trade differ from its domestic relative costs.(b) the country specializes in one product.(c) the country avoids international trade.(d) the world terms of trade equal the domestic relative costs.(e) None of the above.Answer: A16. Terms of trade refers to(a) what goods are imp

17、orted.(b) what goods are exported.(c) the volume of trade.(d) the prices at which trade occurs.(e) None of the above.Answer: D17. If a countrys (net-barter) terms of trade increase (“improve”) we know from this that economic welfare in this country(a) increases(b) increases, but only relative to tha

18、t of its trade partners(c) is unchanged(d) decreases(e) None of the aboveAnswer: E18. If points a and b are both on the production possibility frontier of a country, then(a) consumers are indifferent between the two bundles.(b) producers are indifferent between the two bundles.(c) at any point in ti

19、me, the country could produce both.(d) Both cost the same.(e) The country could produce either of the two bundles.Answer: E19. If the economy is producing at point a on its production possibility frontier, then(a) all of the countrys workers are specialized in one product.(b) all of the countys capi

20、tal is used for one product.(c) all of the countys workers are employed.(d) all of its capital is used, but not efficiently.(e) None of the above.Answer: C20. If at point A on the production possibility frontier, and the community indifference curve cuts through point a from northwest to southeast,

21、then the optimal autarky production bundle is(a) at point A.(b) to the right of point A.(c) to the left of point A.(d) to the northeast of point A.(e) to the southwest of point A.Answer: B21. A bundle indicated by a point to the northeast of the production possibility frontier is(a) unattainable at

22、a point in time.(b) unattainable at a point in time without international trade.(c) unattainable at a point in time without domestic trade.(d) unattainable as a consumption point.(e) None of the above.Answer: B22. If two countries with diminishing returns and different marginal rates of substitution

23、 between two products were to engage in trade, then(a) the shapes of their respective production possibility frontiers would change.(b) the marginal rates of substitution of both would become equal.(c) the larger of the two countries would dominate their trade.(d) the country with relatively elastic

24、 supplies would export more.(e) None of the above.Answer: B23. If a country began exporting product A and importing product B, then, as compared to the autarky (no-trade) situation, the marginal cost of product A will(a) increase.(b) decrease.(c) shift outward.(d) shift inward.(e) None of the above.

25、Answer: A24. If, beginning from a free trade equilibrium, the (net barter) terms of trade improve for a country, then it will(a) increase production of its import competing good.(b) increase consumption of its export good.(c) increase the quantity of its imports.(d) experience an export-biased shift

26、 in its production possibility frontier.(e) None of the above.Answer: C25. If a small country were to levy a tariff on its imports then this would(a) have no effect on that countrys economic welfare.(b) increase the countrys economic welfare.(c) decrease the countrys economic welfare.(d) change the

27、terms of trade.(e) None of the above.Answer: C26. An increase in a countrys net commodity terms of trade will always(a) increase the countrys economic welfare.(b) increase the countrys real income.(c) increase the countrys quantity of exports.(d) increase the countrys production of its import compet

28、ing good.(e) None of the above.Answer: E27. After WWI, Germany was forced to make large reparationstransfers of real income- to France. If the marginal propensity to consume was equal in both countries, and if Frances demand was biased toward food (relative to Germanys demand pattern) then we would

29、expect to find(a) the worlds relative price for food remains unchanged.(b) the worlds relative price for food increase.(c) the worlds relative price for food decrease.(d) the world relative price for both food and non-food rise.(e) None of the above.Answer: B28. If we add to Question 27 that France

30、exported manufactures, whereas Germany exported food, then the reparations from Germany to France would(a) improve Frances international terms of trade.(b) cause France terms of trade to deteriorate.(c) cause both France and Germanys terms of trade to deteriorate.(d) cause both France and Germanys t

31、erms of trade to improve.(e) None of the above.Answer: B29. If a country lent money to another, this must(a) lower the terms of trade of the recipient country.(b) lower the terms of trade of both countries.(c) improve the terms of trade of the recipient country.(d) improve the terms of trade of the donor country(e) None of the above.Answer: E30. During the 19th Century, economic growth of the major trading countries was biased toward manufactures and away from food. The less developed countries of that time were net exporters of food. From th