江西财经大学微观经济学试题库chapter

1、microeconomics 9e (parkin)chapter 7 global markets in action1 how global markets work1) which of the following is correct?a) both imports and exports include goods and services.b) imports includes both goods and services but exports includes only goods.c) imports includes only goods but exports incl

2、udes both goods and services.d) both exports and imports include goods and neither includes services.answer: atopic: international trade todayskill: conceptualaacsb: reflective thinking2) goods and services that we buy from people in other countries are called oura) balance of payments.b) exports.c)

3、 imports.d) terms of trade.answer: ctopic: international trade todayskill: recognitionaacsb: reflective thinking3) the goods and services that a country buys from other countries are called itsa) tariffs.b) quotas.c) exports.d) imports.answer: dtopic: international trade todayskill: recognitionaacsb

4、: reflective thinking4) the goods and services that a country sells to people in other countries are called itsa) tariffs.b) quotas.c) exports.d) imports.answer: ctopic: international trade todayskill: recognitionaacsb: reflective thinking5) international trade arises froma) absolute advantage.b) co

5、mparative advantage.c) importation duties.d) the advantage of execution.answer: btopic: comparative advantageskill: recognitionaacsb: reflective thinking6) the fundamental force that drives international trade isa) absolute advantage.b) importation duties and tariffs.c) export licenses.d) comparativ

6、e advantage.answer: dtopic: comparative advantageskill: recognitionaacsb: reflective thinking7) the fundamental force that generates international trade isa) absolute advantage.b) comparative advantage.c) law of diminishing returns.d) law of increasing costs.answer: btopic: comparative advantageskil

7、l: recognitionaacsb: reflective thinking8) the fundamental force that drives international trade is:a) comparative advantageb) absolute advantagec) countries' desire to increase their trade surplusd) cheap labor in countries like china or indiaanswer: atopic: comparative advantageskill: recognit

8、ionaacsb: reflective thinking9) comparative advantage implies that a country willa) import those goods in which the country has a comparative advantage.b) export those goods in which the country has a comparative advantage.c) find it difficult to conclude free trade agreements with other nations.d)

9、export goods produced by domestic industries with low wages relative to its trading partners.answer: btopic: comparative advantageskill: conceptualaacsb: reflective thinking10) the united states has a comparative advantage in producing airplanes if a) it can produce them at a lower opportunity cost.

10、b) it can produce them at a lower dollar cost.c) it can produce a larger quantity.d) it has a larger quantity of skilled workers.answer: atopic: comparative advantageskill: conceptualaacsb: reflective thinking11) prior to international trade, if country a has a lower price of product x than does cou

11、ntry b, then we know definitely thata) country b has an absolute advantage in the production of product x.b) country b has a comparative advantage in the production of product x.c) country a has an absolute advantage in the production of product x.d) country a has a comparative advantage in the prod

12、uction of product x.answer: dtopic: comparative advantageskill: conceptualaacsb: reflective thinking12) when the principle of comparative advantage is used to guide trade, then a country will specialize by producing onlya) goods with the highest opportunity cost.b) goods with the lowest opportunity

13、costs.c) goods for which production takes fewer worker-hour than another country.d) goods for which production costs are more than average total costs.answer: btopic: comparative advantageskill: conceptualaacsb: reflective thinking13) which of the following statements about u.s. international trade

14、in 2008 is correct?a) the value of u.s. exports exceeded the value of u.s. importsb) the value of u.s. exports was about 33 percent of the value of total u.s. productionc) the united states imported only goods.d) the united states was the worlds largest trader.answer: dtopic: study guide question, i

15、nternational trade todayskill: recognitionaacsb: reflective thinking14) the united states has a comparative advantage in producing cotton if the u.s. price of cotton before international trade is _ the world pricea) less thanb) equal toc) greater thand) not comparable toanswer: atopic: study guide q

16、uestion, comparative advantageskill: conceptualaacsb: reflective thinking15) compared to the situation before international trade, after the united states exports a good production in the united states _ and consumption in the united states _.a) increases; increasesb) increases; decreasesc) decrease

17、s; increasesd) decreases; decreasesanswer: btopic: study guide question, comparative advantageskill: conceptualaacsb: analytical skills16) compared to the situation before international trade, after the united states imports a good production in the united states _ and consumption in the united stat

18、es _.a) increases; increasesb) increases; decreasesc) decreases; increasesd) decreases; decreasesanswer: ctopic: study guide question, comparative advantageskill: conceptualaacsb: analytical skills2 winners, losers and the net gain from trade1) the gains from trade that are possible when two countri

19、es have different opportunity costs for wheat and coffee are realized whena) trade occurs and resources are reallocated within the two countries.b) the two countries continue to produce the same quantities of wheat and coffee.c) each country has an absolute advantage in one of the two commodities.d)

20、 the demand curves in both countries shift inward.answer: atopic: gains from trade, changes in productionskill: conceptualaacsb: communication2) the united states decides to follow its comparative advantage and specialize in the production of airplanes. which of the following will occur?a) more airp

21、lanes will be produced in the united statesb) there will be no change in the price of airplanes in the united statesc) the world price of airplanes will increased) the quantity of airplanes demanded in the united states will increaseanswer: atopic: gains from trade, changes in productionskill: conce

22、ptualaacsb: analytical skills3) a country specializes in the production of goods for which it has a comparative advantage. we find thata) some producers and consumers win, some lose, but overall the gains exceed the lossesb) all producers winc) all consumers wind) producers win, consumers lose, but

23、overall the gains exceed the lossesanswer: atopic: gains from tradeskill: conceptualaacsb: analytical skills4) consider a market that sells some of its goods as exports. who does not benefit?a) domestic consumersb) domestic producersc) workers in the industryd) foreign consumersanswer: atopic: gains

24、 from tradeskill: conceptualaacsb: analytical skills5) who benefits from imports?a) domestic consumersb) domestic producersc) foreign consumersd) domestic workers in the industryanswer: atopic: gains from trade, importsskill: conceptualaacsb: analytical skills6) a country opens up to trade and becom

25、es an importer of some good. consumer surplus will _, producer surplus will _, and total surplus will _.a) increase; decrease; increaseb) increase; decrease; decreasec) decrease; decrease; decreased) decrease ; increase; increaseanswer: atopic: gains from trade, importsskill: conceptualaacsb: analyt

26、ical skills7) consider a market that is initially in equilibrium with quantity demanded equal to quantity supplied at a price of $20. if the world price of the good is $10 and the country opens up to international trade then in this market we would expect a) imports will increase, price will fall, a

27、nd quantity supplied will fallb) exports will increase, price will be unchanged, and quantity supplied will increasec) imports will increase, price will decrease, and the supply curve will shift to the leftd) quantity demanded will decrease, quantity supplied will decrease, and price will decreasean

28、swer: atopic: gains from trade, importsskill: conceptualaacsb: analytical skills8) a country opens up to trade. in an import industry, surplus has been redistributed froma) producers to consumersb) consumers to producersc) government to consumersd) producers to governmentanswer: atopic: gains from t

29、rade, importsskill: conceptualaacsb: analytical skills9) based on the table below, at what world price would the country import?priceqdemandedqsupplied210070495756908088585108090127595a) a price below $8b) at exactly $8c) a price above $8d) it is impossible to sayanswer: atopic: importsskill: analyt

30、icalaacsb: analytical skills10) based on the table below, suppose the world price was $4. the country wouldpriceqdemandedqsupplied210070495756908088585108090127595a) import 20 unitsb) export 20 unitsc) import 10 unitsd) export 10 unitsanswer: atopic: importsskill: analyticalaacsb: analytical skills1

31、1) in a market open to international trade, at the world price the quantity demanded is 150 and quantity supplied is 200. this country willa) export 50 units.b) import 50 units.c) export 200 units.d) import 150 units.answer: atopic: gains from trade, exportsskill: conceptualaacsb: analytical skills1

32、2) a country opens up to trade and becomes an exporter of some good. consumer surplus will _, producer surplus will _, and total surplus will _.a) decrease; increase; increaseb) increase; decrease; increasec) decrease; increase; decreased) remain unchanged; increase; increaseanswer: atopic: gains fr

33、om trade, exportsskill: conceptualaacsb: analytical skills13) a country opens up to trade. in an export industry, surplus has been redistributed froma) consumers to producersb) producers to consumersc) producers to governmentd) government to consumersanswer: atopic: gains from trade, exportsskill: c

34、onceptualaacsb: communication14) based on the table below, at what world price would the country export?priceqdemandedqsupplied210070495756908088585108090127595a) a price above $8b) at only $8c) a price below $8d) it is impossible to sayanswer: atopic: exportsskill: analyticalaacsb: analytical skill

35、sthe figure shows the market for shirts in the united states, where d is the domestic demand curve and s is the domestic supply curve. the world price is $20 per shirt.15) in the figure above, with international trade americans buy _ million shirts per year. a) 48b) 32c) 16d) 24answer: atopic: gains

36、 from tradeskill: analyticalaacsb: analytical skills16) in the figure above, with international trade _ million shirts per year are produced in the united states. a) 48 b) 32c) 16d) 20answer: ctopic: gains from tradeskill: analyticalaacsb: analytical skills17) in the figure above, with international

37、 trade the united states _ million shirts per year. a) imports 32 b) imports 48c) exports 16d) exports 32answer: atopic: importsskill: analyticalaacsb: analytical skills18) in the figure above, international trade _ consumer surplus in the united states by _ . a) increases; $320 millionb) decreases;

38、 $192 millionc) increases; $192 milliond) decreases; $320 millionanswer: atopic: gains from tradeskill: analyticalaacsb: analytical skills19) in the figure above, international trade _ producer surplus in the united states by _ . a) increases; $320 millionb) decreases; $192 millionc) increases; $192

39、 milliond) decreases; $320 millionanswer: btopic: gains from tradeskill: analyticalaacsb: analytical skills20) in the figure above, international trade _ total surplus in the united states by _ . a) increases; $128 millionb) decreases; $192 millionc) increases; $320 milliond) decreases; $256 million

40、answer: atopic: gains from tradeskill: analyticalaacsb: analytical skillsthe figure shows the market for helicopters in the united states, where d is the domestic demand curve and s is the domestic supply curve. the united states trades helicopters with the rest of the world at a price of $36 millio

41、n per helicopter. 21) in the figure above, with international trade u.s. companies buy _ helicopters per year. a) 240 b) 480c) 720d) 360answer: atopic: gains from tradeskill: analyticalaacsb: analytical skills22) in the figure above, with international trade _ helicopters per year are produced in th

42、e united states. a) 360 b) 480c) 720d) 240answer: ctopic: gains from tradeskill: analyticalaacsb: analytical skills23) in the figure above, the united states _ helicopters per year. a) exports 480 b) exports 720c) imports 480d) imports 240answer: atopic: exportsskill: analyticalaacsb: analytical ski

43、lls24) in the figure above, international trade _ consumer surplus in the united states by _ . a) decreases; $2.88 billion b) decreases; $1.92 billionc) increases; $2.88 billiond) increases; $4.8 billionanswer: atopic: gains from tradeskill: analyticalaacsb: analytical skills25) in the figure above,

44、 international trade _ producer surplus in the united states by _ . a) decreases; $2.88 billion b) decreases; $1.92 billionc) increases; $4.8 billiond) increases; $3.6 billionanswer: ctopic: gains from tradeskill: analyticalaacsb: analytical skills26) in the figure above, international trade _ total

45、 surplus in the united states by _ . a) increases; $1.92 billion b) decreases; $2.56 billionc) increases; $4.8 billiond) decreases; $3.6 billionanswer: atopic: gains from tradeskill: analyticalaacsb: analytical skills27) u.s. producer surplus _ when the united states imports a good and u.s. producer

46、 surplus _ when the united states exports a good.a) increases; increasesb) increases; decreasesc) decreases; increasesd) decreases; decreasesanswer: ctopic: study guide question, gains from tradeskill: conceptualaacsb: analytical skills28) when the united states exports a good, u.s. consumer surplus

47、 _ and u.s. total surplus _.a) increases; increasesb) increases; decreasesc) decreases; increasesd) decreases; decreasesanswer: ctopic: study guide question, gains from tradeskill: conceptualaacsb: analytical skills29) when the united states exports a good, the amount of the _ in u.s. consumer surpl

48、us is _ the amount of the _ in u.s. producer surplus.a) increase; smaller than; increaseb) increase; larger than; decreasec) decrease; smaller than; increased) decrease; equal to; decreaseanswer: ctopic: study guide question, gains from tradeskill: analyticalaacsb: analytical skills3 international t

49、rade restrictions1) a tariff is aa) tax on an exported good or service.b) tax on an imported good or service.c) subsidy on an exported good.d) subsidy on an imported good.answer: btopic: trade restrictionsskill: recognitionaacsb: reflective thinking2) a tariff is a tax that is imposed by the _ count

50、ry when an _ good crosses its international boundary.a) exporting; importedb) importing; exportedc) exporting; exportedd) importing; importedanswer: dtopic: trade restrictionsskill: recognitionaacsb: reflective thinking3) a tariffa) is a tax imposed on imported goods.b) is a tax imposed on exported

51、goods.c) encourages worldwide specialization according to the principle of comparative advantage.d) has no effect on prices paid by domestic consumers even though it increases the revenue collected by domestic producers.answer: atopic: trade restrictionsskill: recognitionaacsb: reflective thinking4)

52、 a tariff isa) a licensing regulation that limits imports.b) a quantitative restriction of imports.c) a tax on an imported good.d) an agreement to restrict the volume of exports.answer: ctopic: trade restrictionsskill: recognitionaacsb: reflective thinking5) a tax that is imposed by the importing co

53、untry when an imported good crosses its international boundary is calleda) an import quota.b) dumping.c) a voluntary export restraint.d) a tariff.answer: dtopic: trade restrictionsskill: recognitionaacsb: reflective thinking6) a tax that is imposed by the importing country when an imported good cros

54、ses its international boundary is calleda) an excise tax.b) a quota.c) a tariff.d) a surcharge.answer: ctopic: trade restrictionsskill: recognitionaacsb: reflective thinking7) a major purpose of tariffs is toa) encourage imports.b) encourage exports.c) discourage imports.d) discourage exports.answer: ctopic: trade restrictionsskill: conceptualaacsb: reflective thinking8) tariffs and import quotas differ in thata) one is a form of tr