国际经济学模拟试题(英文)含答案

国际经济学模拟习题 国际经济学模拟习题 3 一 True or False 10 1 10 1 Trade is a zero sum activity if one country gains the other must lose 2 A nation maximizes satisfaction by reaching the highest possible indifference curve and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve 3 The factor endowments model predicts that international trade will tend to equalize the prices of trade able goods among nations but to increase the wage gap between capital abundant and labor abundant nations 4 A tax of 10 percent on imports of shoes would be an example of a specific tariff 5 An import quota will not raise the domestic price of the product as would a tariff because it is not a tax on imports 6 In balance of payments account a transaction resulting in receipt of a payment is recorded as a credit whereas a transaction resulting in a payment to other nations is recorded as a debit 7 Because they do not include an exchange of goods or services unilateral transfers do not appear on a nation s balance of payments account 8 David Hume was one of the first economists to provide analytical support for mercantilist trade policies 9 A nation would be most likely to find its trade balance improving after a currency depreciation if that nation s demand for imports and foreign demand for its exports was very inelastic 10 A nation with neither a balance of payments surplus nor a balance of payments deficit is said to be in internal balance 二 choices 15 3 45 1 The law of comparative advantage a was ratified by the World Trade Organization b explains how all countries can benefit when each specializes in producing items in which it has the greatest relative efficiency c explains how only the most efficient nations can benefit from trade d is used to evaluate a country s military strength 2 The theory of absolute advantage was developed by a the Mercantilists b David Hume c Adam Smith d David Ricardo 3 David Ricardo developed the principle of comparative advantage showing that a a nation must be the least cost producer of a good in order to export that item b no nation could have an absolute advantage in all goods c in a two country example only one nation can have a comparative advantage d even a nation that has lower productivity in all goods can benefit by exporting the item in which it is relatively less inefficient 4 An indifference curve a shows that most people really are indifferent about international trade b shows the demand preferences of consumers c reflects the relative costs of production within a nation d indicates how much labor a country has 5 To maximize its satisfaction a nation will ensure that its terms of trade line a is tangent to its production possibilities frontier at one point production point and also to the highest attainable indifference curve at another point consumption point b is tangent to its production possibilities frontier and intersects an indifference curve c intersects its production possibilities frontier and is tangent to an indifference curve d intersects its production possibilities frontier at one point and an indifference curve at another point 6 Factor price equalization predicts that with international trade a the price of a nation s abundant factor will rise and that of its scarce factor will fall b the price of a nation s abundant factor will fall and that of its scarce factor will rise c the prices of a nation s abundant and scarce factors both will rise d the prices of a nation s abundant and scarce factors both will fall 7 The effective rate of protection a distinguishes between tariffs that are effective and those that are ineffective b is the minimum level at which a tariff becomes effective in limiting imports c shows the increase in value added for domestic production that a particular tariff structure makes possible in percentage terms d shows how effective a tariff is in raising revenue 8 The institutional framework developed in 1947 to promote trade liberalization is known as a the GATT b the WTO c the IMF d The World Bank 9 Developing nations a have very limited involvement in international trade b trade mostly with each other c rely heavily on exports of primary products to industrial nations d rely heavily on exports of manufactured products 10 A customs union is unique in that it a has no tariffs on trade among member nations b has no tariffs on trade among member nations and a common set of tariffs on imports from non members c has no tariffs on trade among member nations a common set of tariffs on imports from non members and free mobility of factors of production such as labor and capital among members d allows unrestricted labor immigration from non member nations 11 A nation s balance of payments statement a is a record of that nation s assets abroad and its liabilities to those from other nations b is an accounting adjustment process ensuring that a nation s exports will be equal to its imports c does not include transactions of foreign citizens or companies living or operating within that nation d is a record of the economic transactions between residents of that nation and the rest of the world usually for a period of one year 12 Since balance of payments accounting is a double entry accounting system an export of U S wheat to Mexico paid for by a deposit to the U S exporters account in a Mexican bank would be recorded on the U S balance of payments as a a credit for merchandise exports and a credit to short term financial flows b a credit for merchandise exports and a debit to short term financial flows c a credit for merchandise exports and a debit to unilateral transfers d a credit for merchandise exports and a debit to official settlements 13 The foreign exchange market a is located in New York b is a market in Chicago for the international trading of commodities such as wheat or copper c is a mechanism for individuals and institutions to exchange one national or regional currency or debt instrument for those of other nations or regions d is open from 9 00 a m to 3 00 p m New York time Monday through Friday 14 Market fundamentals that might be expected to influence exchange rate movements include all of the following factors except a differences in real income growth rates between countries b differences in real interest rates between countries c speculative opinion about future exchange rates d changes in perceived profitability of economic investments between two countries 15 If inflation is higher in Mexico than in the United States the law of one price would predict that a trade between Mexico and the United States would decline b the dollar price of autos purchased in Mexico would be higher than the dollar price of comparable autos purchased in the United States c the peso would appreciate relative to the dollar by an amount equal in percentage terms to the difference between the two inflation rates d the peso would depreciate relative to the dollar by an amount equal in percentage terms to the difference between the two inflation rates 三 Questions 45 answer these questions in Chinese 1 Assume that labor is the only factor used in production and that the costs of producing butter and cloth are given by the table below 8 Cost in labor hours to produceHomeForeign 1 unit of butter1 81 1 unit of cloth1 41 2 1 Express the price of butter relative to the price of cloth in terms of labor content for Home and Foreign in the absence of trade 2 What do these relative prices reveal about each country s comparative advantage 3 What do these relative prices suggest about the world price of butter relative to cloth that will exist once these countries trade with each other 4 If the world price stabilizes at 1 with trade what are the gains by the Home country achieved through trade with the Foreign country 2 Explain the immiserizing growth and list the case for immiserizing growth to be occur 8 3 Explain the exchange rate overshooting theory 8 4 Suppose that the nominal interest rate on 3 month Treasury bills is 8 percent in the United States and 6 percent in the United Kingdom and the rate of inflation is 10 percent in the United States and 4 percent in the United Kingdom 9 1 What is the real interest rate in each nation 2 In which direction would international investment flow in response to these real interest rates 3 What impact would these investment flows have on the dollar s exchange value 5 What effects does labor migration have on the country of immigration The country of emigration The world as a whole 12 国际经济学模拟习题 国际经济学模拟习题 3 参考答案 参考答案 一 判断题 每题 1 分 共 10 分 二 选择题 每题 3 分 共 45 分 bcdba acacb dbccd 三 简答题 共 45 分 1 1 封闭条件下 本国可以用一半的生产一单位布的劳动时间 生产一单位黄油 这表示 在封闭条件下 本国黄油与布的相对价 格是 1 2 外国黄油与布的相对价格是 2 2 分 2 根据上面的相对价格 表明本国生产黄油有比较优势 外国的 比较优势是生产布 2 分 3 如果两国发生国际贸易 国际比价应该落在封闭条件下本国和 外国国内相对价格之间 2 分 4 如果世界市场价格为 1 本国通过出口黄油 进口布 用一单 位黄油可以换得 1 单位布 比在本国用两单位黄油换一单位布多获 得一单位黄油的利益 2 分 2 出口偏向型增长对一国的福利产生两种相反的作用 因为生产 的多 该国可获得好处 但由于出口价格下降 也遭受损失 如果 贸易恶化的负向作用超过了产量增加的正向