1、国际经济学 贸易部分TEST BANK OF INTERNATIONAL ECONOMICSPart. Fill in the blank with suitable content.1.Seven themes recur throughout the study of international economics. These are , , , the balance of payments, exchange rate determination, international policy coordination, international capital market. 2.C
2、ountries engage in international trade for two basic reasons : and . 3.A country has a comparative advantage in producing a good if of producing that good in terms of other goods is lower in that country than it is in other countries. 4. Labor is the only one factor of production.、and、are the unit l
3、abor requirement in cheese and wine at Home and Foreign, respectively. If , Home has a comparative advantage in cheese. /is the relative price of cheese, when Home and Foreign specialize in producing cheese and wine , respectively.5. Labor is the only one factor of production.、and、are the unit labor
4、 requirement in cheese and wine at Home and Foreign, respectively. L and L*are Homes and Foreigns labor force. If /, the world relative supply of cheese equals . Homes gains from indirectly producing wine can be shown as 6. In specific factors model(QM=QM (K, LM); QF=QF (T, LF); L=LM+LF), if Home pr
5、oduces and trades manufactured goods for food , the overall comparison of the five change rate of goods price and factor price、inside Home is . That is, the real income of capitalists increase, it can be shown as .7. There are two main reasons why international trade has strong effects on the distri
6、bution of income. First, Second .8. In the Heckscher-Ohlin model,Comparative advantage is influenced by the interaction between and 9.According to ,if the relative price of a good rises, the real income of the factor which intensively used in that good will rise, while the real income of the other f
7、actor will fall.10.According to , at unchanged relative goods price, if the supply of a factor of production increases, the output of the good that are intensive in that factor will rise, while the output of the other good will fall.11.According to , owners of a countrys abundant factors gain from t
8、rade, but owners of a countrys scare factors lose.12.According to , international trade produces a convergence of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. Trade leads to complete equalization of factor prices.13. Three assumptions cruci
9、al to the prediction of factor price equalization are in reality untrue. These assumptions are (1) (2) (3) .14.“U.S. exports were less capital-intensive than U.S. imports” is known as .15.The Ricardian Model , the Specific Factor model and the H-O model may be viewed as special cases of 16.The stand
10、ard trade model derives a world relative supply curve from and a world relative demand curve from .17.To export-biased growth, if the decline of the welfare caused by the deterioration of the terms of trade swap over the rise of the welfare caused by growth, the growth is .18. Some economists argued
11、 that export-biased growth by poor nations would worsen their term of trade so much that they would be worse off than if they had not grown at all. This situation is known as .19.Immiserizing growth demands strict conditions, these conditions are , , . 20.According to “ ”, tariffs and export subsidi
12、es might have perverse effects on internal price.21.In the model of “Monopolistic Competition and Trade”, firms of an individual nation face the trade-off between and .22. Marshall argued that there were three main reasons why a cluster of firms may be more efficient than an individual firm in isola
13、tion: , , 23.The pattern of intraindustry trade itself is unpredicted, determine the details of the trade pattern.39. When there is external economies, the pattern of international trade is determined by .24. The indexes of intrainindustry trade of a industry can be calculated by the standard formul
14、a: I= .25. Interindustry trade and intrainindustry trade are the sources of gains from trade . When 、 , intrainindustry trade is the dominant source of gains from trade, everyone gains from trade.26.The argument of temporary protection of industries to enable them to gain experience is known as 27.
15、If we add together the gains and losses from a tariff, We find the the net effect on national welfare can be separated into two parts: and 28.Why do countries adopt trade policies such as tariff or import quota, which produce more costs than benefits? 29.In the political economy of trade policy , go
16、vernment are assumed to maximize rather than .30.Deviations from free trade can sometimes increase national welfare. These arguments include and 31.According to “ ”, domestic market failure should be corrected by domestic policies aimed directly at the problems sources.32. Although market failures a
17、re probably common, the domestic market failure argument against free trade should not be applied too freely. First ;Second . 33. International trade often produces losers as well as winners. In the actual politics of trade policy, income distribution is of crucial importance. can explain why polici
18、es that not only seem to produce more costs than benefits but that also seem to hurt far more voters them they can help can nonetheless be adopted.34.The WTO includes four aspects content: GATT 1994, GATS, , 35.“Nondiscriminatory” principles include principle and principle36.For preferential trading
19、 agreements, such as , countries must cede part of their sovereignty to supranational entity. 37.Whether a customs union is desirable or undesirable depends on whether it largely leads to or .38.Trade policy in developing countries is concerned with two objectives: and .39. Trade policy in developin
20、g countries is concerned with two objectives: promoting industrialization and coping with the problems of the dual economy. Correspondingly, there are two main arguments for developing countries to pursue policy of import-substituting industrialization. The two arguments are and .40. Sophisticated p
21、roponents of the infant industry argument have identified two market failures as reasons why infant industry protection may be a good idea: and .Part. Choose the ONLY one collect answer in each question. 1. An important insight of international trade theory is that when countries exchange goods and
22、services one with the other itA. 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 typically harmful to the technologically lagging country.E. tends to create unemployment in both countries.A
23、nswer: B2. If there are large disparities in wage levels between countries, thenA. trade is likely to be harmful to both countries.B. trade is likely to be harmful to the country with the high wages.C. trade is likely to be harmful to the country with the low wages.D. trade is likely to be harmful t
24、o neither country. E. trade is likely to have no effect on either country.Answer: D3. Cost-benefit analysis of international tradeA. is basically useless.B. is empirically intractable.C. focuses attention on conflicts of interest within countries.D. focuses attention on conflicts of interests betwee
25、n countries.E. None of the above.Answer: C4. A primary reason why nations conduct international trade is because of differences inA. historical perspective.B. location.C. resource availabilities.D. tastes.E. incomes.Answer: C5. Arguments for free trade are sometimes disregarded by the political proc
26、ess becauseA. economists tend to favor highly protected domestic markets.B. economists have a universally accepted decisive power over the political decision mechanism.C. maximizing consumer welfare may not be a chief priority for politicians.D. the gains of trade are of paramount concern to typical
27、 consumers.E. None of the above.Answer: C6. Proponents of free trade claim all of the following as advantages exceptA. relatively high wage levels for all domestic workers.B. a wider selection of products for consumersC. increased competition for world producers.D. the utilization of the most effici
28、ent production processes.E. None of the above. Answer: AIn 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 requirementsA. oneB. twoC. threeA. fourB. fiveAnswer: D7. A country engaging in trade accordi
29、ng to the principles of comparative advantage gains from trade because itD. is producing exports indirectly more efficiently than it could alternatively.E. is producing imports indirectly more efficiently than it could domestically. F. is producing exports using fewer labor units.G. is producing imp
30、orts indirectly using fewer labor units.H. None of the above.Answer: B8. A nation engaging in trade according to the Ricardian model will find its consumption bundleA. inside its production possibilities frontier.B. on its production possibilities frontier.C. outside its production possibilities fro
31、ntier.D. inside its trade-partners production possibilities frontier.E. on its trade-partners production possibilities frontier.Answer: C9. If a very small country trades with a very large country according to the Ricardian model, thenA. the small country will suffer a decrease in economic welfare.B
32、. the large country will suffer a decrease in economic welfare.C. the small country will enjoy gains from trade.D. the large country will enjoy gains from trade.E. None of the above.Answer: C10. If the world terms of trade for a country are somewhere between the domestic cost ratio of H and that of F, thenA. country
