国际经济学习题与答案new

1、国际经济学习题与答案国际经济学习题与答案Chapter 1 Introduction1. Multiple Choice Questions1.1 Attempts to explain the pattern of international tradeA. have been a major focus of international economists.B. have proven to be hopeless.C. have proven to be a trivial exercise.D. have been the preoccupation of economic deve

2、lopment theorists.1.2 International economics can be divided into two broad sub-fields:A. macro and micro.B. developed and less developed.C. monetary and barter. D. international trade and international money.1.3 Proponents of free trade claim all of the following as advantages exceptA. relatively h

3、igh 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 efficient production processes.1.4 Empirical studies indicate that productivity performance isA. directly related to globalization of ind

4、ustries.B. inversely related to globalization of industries.C. not related to globalization of industries.D. Any of the above.1.5 A closed economy is one in whichA. imports exactly equal exports.B. domestic firms invest in foreign countries.C. the home economy is isolated from foreign trade or inves

5、tment.D. All of the above.2. Essay Questions2.1. It is argued that small countries tend have more open economies than large ones. Is this empirically verified? What are the logical underpinnings of this argument?2.2. International Trade theory is one of the oldest areas of applied economic policy an

6、alysis. It is also an area for which data was relatively widely available very early on. Why do you suppose this is the case?Answers1. Multiple Choice Questions1.1. A 1.2. C 1.3. A 1.4. A 1.5. C2. Essay Questions2.1. Answer: Yes. They do not have sufficient resources to satisfy consumption needs; an

7、d also do not have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the natural market for any given plant is a circle with a radius of n miles with the plant at its center. Assumin

8、g that the production plants are located randomly throughout the country, then the probability that the typical circular market will encompass some foreign country is greater the smaller is the country.2.2 Answer: In ancient times, public finance was not well developed. Most of the population was no

9、t producing and consuming within well-developed market economies, so that income and sales taxes were not efficient. One of the most convenient ways for governments to obtain resources was to set up custom posts at borders and tax. Hence international trade was of great policy interest to princes an

10、d kings, as was precise data of their main tax base. CHAPTER 2 LABOR PRODUCTIVITY AND COMPARATIVE ADVANTAGE: THE RICARDIAN MODEL1 Multiple Choice Questions1.1 The Ricardian theory of comparative advantage states that a country has a comparative advantage in widgets ifA. output per worker of widgets

11、is higher in that country.B. that countrys exchange rate is low.C. wage rates in that country are high.D. the output per worker of widgets as compared to the output of some other product is higher in that country1.2 A country engaging in trade according to the principles of comparative advantage gai

12、ns from trade because itA. 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.1.3 Given

13、 the following information: Unit Labor Requirements Cloth Widgets Home 20 40 Foreign 120 60A. Neither country has a comparative advantage.B. Home has a comparative advantage in cloth.C. Foreign has a comparative advantage in cloth.D. Home has a comparative advantage in widgets.1.4 As a result of tra

14、de, specialization in the Ricardian model tends to beA. complete with constant costs and with increasing costs.B. complete with constant costs and incomplete with increasing costs.C. incomplete with constant costs and complete with increasing costs.D. incomplete with constant costs and incomplete wi

15、th increasing costs.1.5 If one countrys wage level is very high relative to the others (the relative wage exceeding the relative productivity ratios), thenA. it is not possible that producers in each will find export markets profitable.B. it is not possible that consumers in both countries will enha

16、nce their respective welfares through imports.C. it is not possible that both countries will find gains from trade.D. it is possible that both will enjoy the conventional gains from trade.2. Explain the key terms2.1 absolute advantage2.1 comparative advantage2.2 opportunity cost2.4 Ricardian model3.

17、 Essay Questions3.1. Many countries in Sub-Saharan Africa have very low labor productivities in many sectors, in manufacturing and agriculture. They often despair of even trying to attempt to build their industries unless it is done in an autarkic context, behind protectionist walls because they do

18、not believe they can compete with more productive industries abroad. Discuss this issue in the context of the Ricardian model of comparative advantage.3.2. When we examine the 2 Good 2 Country version of the Ricardian model of comparative advantage, we note that comparative advantage is totally dete

19、rmined by physical productivity ratios. Changes in wage rates in either country cannot affect these physically determined comparative advantages, and hence cannot affect, which product will be exported by which country. However, when more than 2 goods are added to the model (still with 2 countries),

20、 changes in wage rates in one or the other country can in fact determine which good or goods each of the countries will export. How can you explain this anomaly?3.3. An examination of the Ricardian model of comparative advantage yields the clear result that trade is (potentially) beneficial for each

21、 of the two trading partners since it allows for an expanded consumption choice for each. However, for the world as a whole the expansion of production of one product must involve a decrease in the availability of the other, so that it is not clear that trade is better for the world as a whole as co

22、mpared to an initial situation of non-trade (but efficient production in each country). Are there in fact gains from trade for the world as a whole? Explain.4. Quantitative/Graphing Problems4.1. Given the following information: Unit Labor Requirements Cloth WidgetsHome 100 200Foreign 60 30What is th

23、e opportunity cost of Cloth in terms of Widgets in Foreign?4.2. Given the following information: Unit Labor Requirements Cloth WidgetsHome 100 200Foreign 60 30If these two countries trade these two goods in the context of the Ricardian model of comparative advantage, then what is the lower limit of

24、the world equilibrium price of widgets? 4.3. Given the following information: Unit Labor Requirements Cloth WidgetsHome 100 200Foreign 60 30If these two countries trade these two goods with each other in according to the Ricardian model of comparative advantage, what is the lower limit for the price

25、 of cloth?4.4. Given the following information: Units Produced by One Worker/Hour Cloth WidgetsHome 100 200Foreign 60 30What is the opportunity cost of cloth in terms of widgets in Foreign?4.5. Given the following information: Units Produced by One Worker/Hour Cloth WidgetsHome 100 200Foreign 60 30I

26、f these two countries trade these two goods with each other in the following the Ricardian model of comparative advantage, then what is the lower limit for the world equilibrium price of cloth?Answers1. Multiple Choice Questions 1.1. D 1.2 B 1.3. B 1.4. B 1.5. D 2.Explain the key terms2.1. absolute

27、advantage：when one country can produce a unit of a good with less labor than another country, we say that the first country has an absolute advantage in producing that good. 2.2. Comparative advantage: A country has a comparative advantage in producing a good if the opportunity cost or producing tha

28、t good in terms of other goods is lower in that country than it is in other countries.2.3. Opportunity cost: the opportunity cost of good 1 in terms of good 2 is the number of good 2 that could have been produced with the resources used to produce a given number of good 1.2.44. Ricardian model: inte

29、rnational trade is solely due to international differences in the productivity of labor.3. Essay Questions3.1. Answer: The Ricardian model of comparative advantage argues that every country must have a comparative advantage in some product (assuming there are more products than countries.3.2. Answer

30、: This is not really an anomaly. As long as only two goods exist, then as long as trade takes place, each country must have a comparative advantage in one of them (or none). However, if there are more goods than countries, then the physical productivity definition of comparative advantage becomes am

31、biguous. Changes in relative wage rates will shift the international competitiveness along the chain of comparative advantage.3.3. Answer: If we were to combine the production possibility frontiers of the two countries to create a single world production possibility frontier, then it is true that an

32、y change in production points (from autarky to specialization with trade) would involve a tradeoff of one good for another from the worlds perspective. In other words, the new solution cannot possibly involve the production of more of both goods. However, since we know that each country is better of

33、f at the new solution, it must be true that the original points were not on the trade contract curve between the two countries, and it was in fact possible to make some people better off without making others worse off, so that the new solution does indeed represent a welfare improvement from the wo

34、rlds perspective.4. Quantitative/Graphing Problems4.1. Answer: One half a widget4.2. Answer: Two Cloths.4.3. Answer: One half a widget.4.4. Answer: 2 widgets.4.5. Answer: 2 widgets.Chapter 3 Specific Factors and Income Distribution1. Multiple Choice Questions1.1 In an economy described by the Specif

35、ic Factors Model, the production possibility frontier will beA. linear.B. concave to the origin. C. convex to the origin.D. parabolic with one root.1.2 If the price of the capital intensive product rises more than does the price of the land intensive product, thenA. demand will shift away from the c

36、apital-intensive product, and its production will decrease.B. demand will shift away from the capital-intensive product, and its production will decrease relative to that of the land intensive product.C. the countries exporting the capital-intensive good will lose its comparative advantage.D. None o

37、f the above.1.3 The specific factor model argues that if land can be used both for food production and for manufacturing, then a quota that protects food production willA. clearly help landowners.B. clearly hurt landowners.C. clearly help manufacture but hurt food production.D. have an ambiguous eff

38、ect on the welfare of landowners. 1.4 In the model described in this chapter, if the price of manufactures rises, thenA. the real income of capital rises. B. the real income of land rises.C. the purchasing power of landowners rises.D. the production of both products falls.1.5 Those who stand to gain

39、 from tradeA. do not really care about the issue of income redistribution.B. could not compensate losers since there are so many poor people.C. could compensate losers but would rather not in modern industrial economies.D. compensate losers at least partially through such legislation as unemployment

40、 compensation.2. Explain the key terms2.1. Budget constrain2.2. Marginal product of labor2.3. Mobile factor3. Essay Questions3.1. The Specific Factors model makes a distinction between general-purpose factors that can move between sectors and factors that are specific to particular uses. How do diff

41、erences in the availabilities of the specific factors form the basis for international trade? Identify factors, which are specific, and explain in what sense or context they are specific.3.2. The Specific Factors model clearly illustrates how the expansion of trade can have significant distributiona

42、l effects on the relative incomes of different factors of production. Why do economists object to using trade protectionist policy to mitigate or reverse these effects? If mitigating such effects were considered to be a reasonable goal, would economists then favor do this via the use of trade policy

43、? Why or why not?3.3. One reason international trade has a powerful effect on the distribution of income within countries is that some factors are specific, and therefore cannot move costless from one industry to another. What is another necessary condition for international trade to have such a str

44、ong effect on intra-country income distributions?4. Quantitative/Graphing Problems An Economy can produce good 1 using labor and capital and good 2 using labor and land. The total supply of labor is 100 units. Given the supply of capital, the outputs of the two goods depends on labor input as follow

45、s: Labor Input Output of Labor input Output of to Good 1 Good 1 to Good 2 Good 2 0 0 0 010 27 10 4520 40 20 5830 51 30 6740 60 40 7550 68 50 8260 75 60 8870 81 70 9380 86 80 9790 89 90 100 100 91 100 101 4.1. Calculate the marginal product of labor for each product at 50 workers and 90 workers.4.2.

46、Suppose the relative price of good 1 falls relative to the price of 2. What happens to the wage rate?4.3. Calculate the effects of the fall in the relative price of good 2 on the income of the specific factors capital and land.Answers 1. Multiple Choice Questions1.1.B 1.2. D 1.3. D 1.4. A 1.5. D2. E

47、xplain the key terms2.1. Budget constrain: budget constrain show the amount that the economy can afford to import by the amount it exports.2.2. Marginal product of labor: marginal product of labor is the addition to output generated by adding one more person-hour.2.3. Mobile factor: mobile factor is

48、 the factor that can move between sectors.3. Essay Questions3.1. Answer: This model posits a zero elasticity of technical substitution of a specific factor between the two products. Hence, if the supply of one of these is (relatively) small, then the marginal product of labor in that industry will b

49、e low. Since each country is producing some of each, the wage rate must be equal in both sectors. Hence, the country will not be able to produce and sell the product competitively.3.2. Answer: Economists note that in general such remedies are inefficient. That is, there is almost always an alternati

50、ve policy that can provide the same sectored protection with a lower cost to the rest of the economy. In any case, such policy would also be inefficient in that they would divert scarce resources away from the countrys area of comparative advantage.3.3. Answer: It is necessary that the relative fact

51、or intensities differ from industry to industry.4. Quantitative/Graphing Problems4.1. Answer: At 50 workers, the marginal product for 1 is 0.75 For product 2 it is 0.65At 90 workers, the marginal product for 1 is 0.25 For product 2 it is 0.154.2. Answer: The labor component of the price of 1 is larg

52、er than that of product 2. Hence, a fall in the relative price of 1 will lower the demand for labor and will result in a decrease in the wage rate.4.3. Answer: Because good 2 uses land, a fall in its relative price will result in a fall in rental rates on land, and an increase in the return to capit

53、al. Chapter 4 Resources and Trade: The Heckscher-Ohlin Model1. Multiple Choice Questions1.1 In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ inA. tastes.B. military capabilities.C. size.D. relative availabilities of factors of production. 1.2 In the 2-factor, 2 good Heckscher-

54、 Ohlin model, a change from autarky (no trade) to trade will benefit the owners ofA. capital.B. the relatively abundant factor of production.C. the relatively scarce factor of production.D. the relatively inelastic factor of production 1.3 The Leontief ParadoxA. supported the validity of the Ricardi

55、an theory of comparative advantage.B. supported the validity of the Heckscher-Ohlin model.C. failed to support the validity of the Ricardian theory.D. failed to support the validity of the Heckscher-Ohlin model. 1.4 Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country

56、 H is relatively labor abundant, then once trade beginsA. wages and rents should rise in HB. wages and rents should fall in HC. wages should rise and rents should fall in H. D. wages should fall and rents should rise in H. 1.5 The following are all assumptions that must be accepted in order to apply

57、 the Heckscher-Ohlin Theory, except for one:A. countries differ in their endowments of factors of production.B. countries differ in their technologies. C. there are two factors of production.D. production is subject to constant returns to scale. 2. Explain the key terms2.1 Heckscher-Ohlin theorem2.2

58、. Factor intensive2.3. Factor abundance2.4. factor-price equalization theorem3. Essay Questions3.1. “A good cannot be both land- and labor-intensive.” Discuss.3.2. Why is the H.O. model called the factor-proportion theory?3.3. Why do we observe the Leontief paradox?4. Quantitative/Graphing ProblemsE

59、DWheat ClothPc/PwK/LFBARMPW/R4.1. Two countries exist in this model, P and R. P is relatively labor (L) abundant, as is evident in the bottom right horizontal axis. If Country P were to be completely specialized in the labor-intensive product C, it would be producing at point D. In fact, it produces

60、 both C and P, at point E. The (autarky) relative price of C ( in terms of F) of Country P is at point A; and of Country R at point F .If trade were to open up between these two countries, which would export C and which would export W? Is this consistent with the Heckscher-Ohlin model? Explain.4.2.