国际经济学克鲁德曼翻译及课后题答案Word文件下载.docx
- 文档编号:8038639
- 上传时间:2023-05-09
- 格式:DOCX
- 页数:14
- 大小:54.84KB
国际经济学克鲁德曼翻译及课后题答案Word文件下载.docx
《国际经济学克鲁德曼翻译及课后题答案Word文件下载.docx》由会员分享,可在线阅读,更多相关《国际经济学克鲁德曼翻译及课后题答案Word文件下载.docx(14页珍藏版)》请在冰点文库上搜索。
ThePatternofTrade
Protectionism
TheBalanceofPayments
Exchange-RateDetermination
InternationalPolicyCoordination
TheInternationalCapitalMarket
InternationalEconomics:
TradeandMoney
ChapterOverview
Theintentofthischapteristoprovidebothanoverviewofthesubjectmatterofinternationaleconomicsandtoprovideaguidetotheorganizationofthetext.Itisrelativelyeasyforaninstructortomotivatethestudyofinternationaltradeandfinance.Thefrontpagesofnewspapers,thecoversofmagazines,andtheleadreportsoftelevisionnewsbroadcastsheraldtheinterdependenceoftheU.S.economywiththerestoftheworld.Thisinterdependencemayalsoberecognizedbystudentsthroughtheirpurchasesofimportsofallsortsofgoods,theirpersonalobservationsoftheeffectsofdislocationsduetointernationalcompetition,andtheirexperiencethroughtravelabroad.
Thestudyofthetheoryofinternationaleconomicsgeneratesanunderstandingofmanykeyeventsthatshapeourdomesticandinternationalenvironment.Inrecenthistory,theseeventsincludethecausesandconsequencesofthelargecurrentaccountdeficitsoftheUnitedStates;
thedramaticappreciationofthedollarduringthefirsthalfofthe1980sfollowedbyitsrapiddepreciationinthesecondhalfofthe1980s;
theLatinAmericandebtcrisisofthe1980sandtheMexicocrisisinlate1994;
andtheincreasedpressuresforindustryprotectionagainstforeigncompetitionbroadlyvoicedinthelate1980sandmorevocallyespousedinthefirsthalfofthe1990s.Mostrecently,thefinancialcrisisthatbeganinEastAsiain1997andspreadtomanycountriesaroundtheglobeandtheEconomicandMonetaryUnioninEuropehavehighlightedthewayinwhichvariousnationaleconomiesarelinkedandhowimportantitisforustounderstandtheseconnections.Atthesametime,protestsatglobaleconomicmeetingshavehighlightedoppositiontoglobalization.Thetextmaterialwillenablestudentstounderstandtheeconomiccontextinwhichsucheventsoccur.
Chapter1ofthetextpresentsdatademonstratingthegrowthintradeandincreasingimportanceofinternationaleconomics.Thischapteralsohighlightsandbrieflydiscussesseventhemeswhicharisethroughoutthebook.Thesethemesinclude:
1)thegainsfromtrade;
2)thepatternoftrade;
3)protectionism;
4),thebalanceofpayments;
5)exchangeratedetermination;
6)internationalpolicycoordination;
and7)theinternationalcapitalmarket.Studentswillrecognizethatmanyofthecentralpolicydebatesoccurringtodaycomeundertherubricofoneofthesethemes.Indeed,itisoftenafruitfulheuristictousecurrenteventstoillustratetheforceofthekeythemesandargumentswhicharepresentedthroughoutthetext.
CHAPTER2
LaborProductivityandComparativeAdvantage:
TheRicardianModel
TheConceptofComparativeAdvantage
AOne-FactorEconomy
ProductionPossibilities
RelativePricesandSupply
TradeinaOne-FactorWorld
Box:
ComparativeAdvantageinPractice:
TheCaseofBabeRuth
DeterminingtheRelativePriceAfterTrade
ANumericalExample
TheLossesfromNon-Trade
RelativeWages
MisconceptionsAboutComparativeAdvantage
ProductivityandCompetitiveness
ThePauperLaborArgument
Exploitation
DoWagesReflectProductivity?
ComparativeAdvantagewithManyGoods
SettingUptheModel
RelativeWagesandSpecialization
DeterminingtheRelativeWagewithaMultigoodModel
AddingTransportCostsandNon-TradedGoods
EmpiricalEvidenceontheRicardianModel
Summary
TheRicardianmodelprovidesanintroductiontointernationaltradetheory.Thismostbasicmodeloftradeinvolvestwocountries,twogoods,andonefactorofproduction,labor.Differencesinrelativelaborproductivityacrosscountriesgiverisetointernationaltrade.ThisRicardianmodel,simpleasitis,generatesimportantinsightsconcerningcomparativeadvantageandthegainsfromtrade.Theseinsightsarenecessaryfoundationsforthemorecomplexmodelspresentedinlaterchapters.
Thetextexpositionbeginswiththeexaminationoftheproductionpossibilityfrontierandtherelativepricesofgoodsforonecountry.Theproductionpossibilityfrontierislinearbecauseoftheassumptionofconstantreturnstoscaleforlabor,thesolefactorofproduction.Theopportunitycostofonegoodintermsoftheotherequalsthepriceratiosincepricesequalcosts,costsequalunitlaborrequirementstimeswages,andwagesareequalineachindustry.
Afterdefiningtheseconceptsforasinglecountry,asecondcountryisintroducedwhichhasdifferentrelativeunitlaborrequirements.Generalequilibriumrelativesupplyanddemandcurvesaredeveloped.Thisanalysisdemonstratesthatatleastonecountrywillspecializeinproduction.Thegainsfromtradearethendemonstratedwithagraphandanumericalexample.Theintuitionofindirectproduction,thatis"
producing"
agoodbyproducingthegoodforwhichacountryenjoysacomparativeadvantageandthentradingfortheothergood,isanappealingconcepttoemphasizewhenpresentingthegainsfromtradeargument.StudentsareabletoapplytheRicardiantheoryofcomparativeadvantagetoanalyzethreemisconceptionsabouttheadvantagesoffreetrade.Eachofthethree"
myths"
representsacommonargumentagainstfreetradeandtheflawsofeachcanbedemonstratedinthecontextofexamplesalreadydevelopedinthechapter.
Whiletheinitialintuitionsaredevelopedinthecontextofatwogoodmodel,itisstraightforwardtoextendthemodeltodescribetradepatternswhenthereareNgoods.Thisanalysiscanbeusedtoexplainwhyasmallcountryspecializesintheproductionofafewgoodswhilealargecountryspecializesintheproductionofmanygoods.Thechapterendsbydiscussingtherolethattransportcostsplayinmakingsomegoodsnon-traded.
TheappendixpresentsaRicardianmodelwithacontinuumofgoods.Theeffectofproductivitygrowthinaforeigncountryonhomecountrywelfarecanbeinvestigatedwiththismodel.Thecommonargumentthatforeignproductivityadvancesworsenthewelfareofthedomesticeconomyisshowntobefallaciousinthecontextofthismodel.
AnswerstoTextbookProblems
1.a.Theproductionpossibilitycurveisastraightlinethatinterceptstheappleaxisat400(1200/3)andthebananaaxisat600(1200/2).
b.Theopportunitycostofapplesintermsofbananasis3/2.Ittakesthreeunitsoflabortoharvestanapplebutonlytwounitsoflabortoharvestabanana.Ifoneforegoesharvestinganapple,thisfreesupthreeunitsoflabor.These3unitsoflaborcouldthenbeusedtoharvest1.5bananas.
c.Labormobilityensuresacommonwageineachsectorandcompetitionensuresthepriceofgoodsequalstheircostofproduction.Thus,therelativepriceequalstherelativecosts,whichequalsthewagetimestheunitlaborrequirementforapplesdividedbythewagetimestheunitlaborrequirementforbananas.Sincewagesareequalacrosssectors,thepriceratioequalstheratiooftheunitlaborrequirement,whichis3applesper2bananas.
2.a.Theproductionpossibilitycurveislinear,withtheinterceptontheappleaxisequalto160(800/5)andtheinterceptonthebananaaxisequalto800(800/1).
b.Theworldrelativesupplycurveisconstructedbydeterminingthesupplyofapplesrelativetothesupplyofbananasateachrelativeprice.Thelowestrelativepriceatwhichapplesareharvestedis3applesper2bananas.Therelativesupplycurveisflatatthisprice.Themaximumnumberofapplessuppliedatthepriceof3/2is400suppliedbyHomewhile,atthisprice,Foreignharvests800bananasandnoapples,givingamaximumrelativesupplyatthispriceof1/2.Thisrelativesupplyholdsforanypricebetween3/2and5.Atthepriceof5,bothcountrieswouldharvestapples.Therelativesupplycurveisagainflatat5.Thus,therelativesupplycurveisstepshaped,flatattheprice3/2fromtherelativesupplyof0to1/2,verticalattherelativequantity1/2risingfrom3/2to5,andthenflatagainfrom1/2toinfinity.
3.a.Therelativedemandcurveincludesthepoints(1/5,5),(1/2,2),(1,1),(2,1/2).
b.Theequilibriumrelativepriceofapplesisfoundattheintersectionoftherelativedemandandrelativesupplycurves.Thisisthepoint(1/2,2),wheretherelativedemandcurveintersectstheverticalsectionoftherelativesupplycurve.Thustheequilibriumrelativepriceis2.
c.Homeproducesonlyapples,Foreignproducesonlybananas,andeachcountrytradessomeofitsproductfortheproductoftheothercountry.
d.Intheabsenceoftrade,Homecouldgainthreebananasbyforegoingtwoapples,andForeigncouldgainbyoneappleforegoingfivebananas.Tradeallowseachcountrytotradetwobananasforoneapple.HomecouldthengainfourbananasbyforegoingtwoappleswhileForeigncouldgainoneapplebyforegoingonlytwobananas.Eachcountryisbetteroffwithtrade.
4.TheincreaseinthenumberofworkersatHomeshiftsouttherelativesupplyschedulesuchthatthecornerpointsareat(1,3/2)and(1,5)insteadof(1/2,3/2)and(1/2,5).Theintersectionoftherelativedemandandrelativesupplycurvesisnowinthelowerhorizontalsection,atthepoint(2/3,3/2).Inthiscase,ForeignstillgainsfromtradebuttheopportunitycostofbananasintermsofapplesforHomeisthesamewhetherornotthereistrade,soHomeneithergainsnorlosesfromtrade.
5.Thisanswerisidenticaltothatin3.Theamountof"
effectivelabor"
hasnotchangedsincethedoublingof
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 国际 经济学 克鲁 翻译 课后 答案