国际经济学英文版第八版章节练习第一章.docx

1、国际经济学英文版第八版章节练习第一章International Economics, 8e (Krugman) Chapter 1 Introduction1.1 What Is International Economics About?1) Historians of economic thought often describe _ written by _ and published in _ as the first real exposition of an economic model. A) ”Of the Balance of Trade,” David Hume, 1776

2、 B) ”Wealth of Nations,” David Hume, 1758 C) ”Wealth of Nations,” Adam Smith, 1758 D) ”Wealth of Nations,” Adam Smith, 1776 E) ”Of the Balance of Trade,” David Hume, 1758 Answer: E2) 2)Ancient theories of international economics from the 18th and 19th Centuries are A) not relevant to current policy

3、analysis. B) are only of moderate relevance in todays modern international economy. C) are highly relevant in todays modern international economy. D) are the only theories that actually relevant to modern international economy. E) are not well understood by modern mathematically oriented theorists.

4、Answer: C3) An important insight of international trade theory is that when countries exchange goods and services one with the other it A) is always beneficial to both countries. B) is usually beneficial to both countries. C) is typically beneficial only to the low wage trade partner country. D) is

5、typically harmful to the technologically lagging country. E) tends to create unemployment in both countries. Answer: B4) If there are large disparities in wage levels between countries, then A) trade is likely to be harmful to both countries. B) trade is likely to be harmful to the country with the

6、high wages. C) trade is likely to be harmful to the country with the low wages. D) trade is likely to be harmful to neither country. E) trade is likely to have no effect on either country. Answer: D5) Who sells what to whom A) has been a major preoccupation of international economics. B) is not a va

7、lid concern of international economics. C) is not considered important for government foreign trade policy since such decisions are made in the private competitive market. D) is determined by political rather than economic factors. E) None of the above Answer: A6) The insight that patterns of trade

8、are primarily determined by international differences in labor productivity was first proposed by A) Adam Smith. B) David Hume. C) David Ricardo. D) Eli Heckscher. E) Lerner and Samuelson. Answer: C7) The euro, a common currency for most of the nations of Western Europe, was introduced A) before 190

9、0. B) before 1990. C) before 2000. D) in order to snub the pride of the U.S. E) None of the above. Answer: C8) For the 50 years preceding 1994, international trade policies have been governed A) by the World Trade Organization. B) by the International Monetary Fund. C) by the World. D) by an interna

10、tional treaty known as the General Agreement on Tariffs and Trade (GATT). E) None of the above. Answer: D9) The international capital market is A) 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

11、 promises to pay in the future. C) the arrangement where banks build up their capital by borrowing from the Central Bank. D) the place where emerging economies accept capital invested by banks. E) None of the above. Answer: B10) Since 1994, trade rules have been enforced by A) the WTO. B) the G10. C

12、) the GATT. D) The U.S. Congress. E) None of the above. Answer: A11) Cost-benefit analysis of international trade A) is basically useless. B) is empirically intractable. C) focuses attention primarily on conflicts of interest within countries. D) focuses attention on conflicts of interests between c

13、ountries. E) None of the above. Answer: C12) 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 we know that a surplus in a balance of payments A) is good. B) is usually good. C) is probably good. D) may be con

14、sidered bad. E) is always bad. Answer: D 13) The GATT was A) an international treaty. B) an international U.N. agency. C) an international IMF agency. D) a U.S. government agency. E) a collection of tariffs. Answer: A 14) International economics can be divided into two broad sub-fields A) macro and

15、micro. B) developed and less developed. C) monetary and barter. D) international trade and international money. E) static and dynamic. Answer: DInternational Economics, 8e (Krugman) Chapter 2 World Trade: An Overview2.1 Who Trades with Whom?1) What percent of all world production of goods and servic

16、es is exported to other countries? A) 10% B) 30% C) 50% D) 100% E) None of the above. Answer: B2) The gravity model offers a logical explanation for the fact that A) trade between Asia and the U.S. has grown faster than NAFTA trade. B) trade in services has grown faster than trade in goods. C) trade

17、 in manufactures has grown faster than in agricultural products. D) Intra-European Union trade exceeds International Trade of the European Union. E) None of the above. Answer: D3) According to the gravity model, a characteristic that tends to affect the probability of trade existing between any two

18、countries is A) their cultural affinity. B) the average weight/value of their traded goods. C) their colonial-historical ties. D) the distance between them. E) the number of varieties produced on the average by their industries. Answer: D 4) Why does the gravity model work? A) Large economies became

19、 large because they were engaged in international trade. B) Large economies have relatively large incomes, and hence spend more on government promotion of trade and investment. C) Large economies have relatively larger areas which raises the probability that a productive activity will take place wit

20、hin the borders of that country. D) Large economies tend to have large incomes and tend to spend more on imports. E) None of the above. Answer: D5) The two neighbors of the United States do a lot more trade with the United States than European economies of equal size. A) This contradicts predictions

21、 from gravity models. B) This is consistent with predictions from gravity models. C) This is relevant to any inferences that may be drawn from gravity models. D) This is because these neighboring countries have exceptionally large GDPs. E) None of the above. Answer: B6) Since World War II (the early

22、 1950s), the proportion of most countries production being used in some other country A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) both A and D above. Answer: B 7) Since World War II, the relative importance of raw materials, including oil, in total

23、world trade A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend E) both A and D above. Answer: C 8) In the current Post-Industrial economy, international trade in services (including banking and financial services) A) dominates world trade. B) does not exist. C

24、) is relatively small. D) is relatively stagnant. E) None of the above. Answer: C 9) In the pre-World War I period, the U.S. exported primarily A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) None of the above. Answer: C 10) In the

25、 pre-World War I period, the United Kingdom exported primarily A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) None of the above. Answer: A 11) In the present, most of the exports from China are in A) manufactured goods. B) service

26、s. C) primary products including agricultural. D) technology intensive products. E) None of the above. Answer: A International Economics, 8e (Krugman) Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model 1) Trade between two countries can benefit both countries if A) each coun

27、try exports that good in which it has a comparative advantage. B) each country enjoys superior terms of trade. C) each country has a more elastic demand for the imported goods. D) each country has a more elastic supply for the exported goods. E) Both C and D. Answer: A 2) In order to know whether a

28、country has a comparative advantage in the production of one particular product we need information on at least _ unit labor requirements A) one B) two C) three D) four E) five Answer: D 3) A country engaging in trade according to the principles of comparative advantage gains from trade because it A

29、) is producing exports indirectly more efficiently than it could alternatively. B) is producing imports indirectly more efficiently than it could domestically. C) is producing exports using fewer labor units. D) is producing imports indirectly using fewer labor units. E) None of the above. Answer: B

30、 4) Given the information in the table above, if it is ascertained that Foreign uses prison-slave labor to produce its exports, then home should A) export cloth. B) export widgets. C) export both and import nothing. D) export and import nothing. E) All of the above. Answer: A 5) Given the information in the table above, if the Home economy suffered a meltdown, and the Unit Labor Requirements doubled to