国贸理论双语教学英文练习题2003

1、1.Labor may be internationally mobile, but capital and land do not migratefrom one country to another.2.The author of the Wealth of Nations was:a. David Ricardo. b. Paul Samuelson.c. Adam Smith. d. Karl Marx.3.When Adam Smith presented his theory of absolute advantage, he thoughtthat all value was m

2、easured in terms of the amount of _ used inthe production of the good.a. land b. labor c. capital d. money4.Labor productivity is:a. the number of units of output that a worker can produce in onehour.b. the total number of units that all workers in a firm produce in oneday.c. the number of hours it

3、takes a worker to produce one unit of output.d. the total number of hours it takes all the workers in a firm toproduce a days output.5.Which of the following is NOT true about mercantilism?a. Under mercantilism, exports were encouraged and imports werediscouraged.b. Mercantilists believed that one c

4、ountrys gains from trade came atthe expense of another country or countries well being.c. Domestic producers were often hurt by mercantilism.d. Mercantilism focused on the accumulation of gold and silverbullion.6.If Britains labor productivity in the production of umbrellas is greater thanthe rest o

5、f the worlds labor productivity in umbrellas, we would saythat Britain has a(n) _ in the production of umbrellas.a. comparative advantage b. absolute advantagec. opportunity cost d. superiority7.In the two-country, two-good model, which of the following is true?(1)As a result of trade, at least one

6、country is better off and that countrysgain does not reduce the economic welfare of the other country.(2)Both countries can gain from trade by dividing the benefits of theenhanced global production.a. (1) b. (2) c. Both (1) and (2) d. Neither (1) nor (2)Table3.1In the United In the Rest of theKingdo

7、mWorldProductivityUmbrellas per labor hour 1.00Bushels of corn per labor 0.20hour0.500.708.Refer to Table 3.1. The number of labor hours to make 1 umbrella in theUnited Kingdom is:a. 0.5. b. 1. c. 1.43. d. 2.9.Refer to Table 3.1. The number of labor hours to produce 1 bushel of cornin the Rest of th

8、e World is:a. 0.5. b. 1. c. 1.43. d. 2.10.Refer to Table 3.1. Given the productivity information in Table 3.1, therest of the world has an absolute advantage in the production of_ and the United Kingdom has an absolute advantage in theproduction of _.a. umbrellas; corn b. corn; umbrellasc. corn; nei

9、ther good d. neither good; umbrellas11.Refer to Table 3.1. If the United Kingdom shifts 1 hour of labor from theproduction of corn to the production of umbrellas and the rest of the worldshifts 1 hour of labor from the production of umbrellas to the production ofcorn, total world production of corn

10、will _ by _ bushels andtotal world production of umbrellas will _ by _.a. increase; 1; decrease; 1 b. increase; 1.43; increase 1c. increase; 0.5; increase; 0.5 d. decrease; 0.5; increase; 0.712.The theory of comparative advantage was first presented by:a. Adam Smith. b. Karl Marx. c. David Ricardo.

11、d. EliHeckscher.13.If a country exports the good that it can produce at a low opportunity costand imports those goods that it would otherwise produce at a highopportunity cost, we say that such trade is based upon _.a. absolute advantage b. arbitragec. labor productivity differences d. comparative a

12、dvantageTable 3.3In the United In the Rest of theKingdomWorldProductivityUmbrellas per labor hour 6Bushels of corn per labor 413hour14.Refer to Table 3.3. The United Kingdom has an absolute advantage in theproduction of _ and the Rest of the World has an absolute advantagein the production of _.a. b

13、oth goods; neither good b. neither good; both goodsc. umbrellas; corn d. corn; umbrellas15.Refer to Table 3.3. The United Kingdom has a comparative advantage inthe production of _ and the Rest of the World has a comparativeadvantage in the production of _.a. both goods; neither good b. neither good;

14、 both goodsc. umbrellas; corn d. corn; umbrellas16.Refer to Table 3.3. The opportunity cost of producing a bushel of corn inthe United Kingdom is _ umbrellas and the opportunity cost ofproducing a bushel of corn in the Rest of the World is _ umbrellas.a. 2/3; 3 b. 3; 2/3 c. 3/2; 1/3 d. 1/3; 3/227.Re

15、fer to Table 3.3. The opportunity cost of producing an umbrella in theUnited Kingdom is _ bushels of corn and the opportunity cost ofproducing an umbrella in the Rest of the World is _ bushels of corn.a. 2/3; 3 b. 3; 2/3 c. 3/2; 1/3 d. 1/3; 3/218.Refer to Table 3.3. Once trade is opened, we can anti

16、cipate that theinternational price of umbrellas will lie between _ and _.a. 2/3 of a bushel of corn; 3 bushels of cornb. 3/2 bushels of corn; 2/3 of a bushel of cornc. 3/2 of a bushel of corn; 1/3 of a bushel of cornd. 3 bushels of corn; 1/3 of a bushel of corn19. Refer to Table 3.3. Once trade is o

17、pen, we can anticipate that theinternational price of corn will lie between _ and _.a. 2/3 of an umbrella; 3 umbrellas b. 3/2 umbrellas; 2/3 of anumbrellac. 3/2 umbrellas; 1/3 of an umbrella d. 3 umbrellas; 3/2 umbrellas20.Which of the following theories predicts that a country will export thosegood

18、s that use the countrys abundant factor(s) intensively inproduction and import those goods that use the countrys scarcefactor(s) intensively in production?a. Absolute advantage b. Comparative advantagec. Heckscher-Ohlin theory d. the production differentiation model21.If Country A is labor-abundant

19、and capital-scarce, Country B is labor-scarce and capital-abundant, Good X is produced in a labor-intensiveprocess, and Good Y is produced in a capital-intensive process, we wouldexpect that:a. Country A would export Good X. b. Country B would importGood Y.c. Country A would import Good X.d. Country

20、 B would import both Good X and Good Y.22.A product is relatively _ if labor costs are a greater proportion ofthe products value than they are the value of other products.a. capital-abundant b. labor-abundantc. capital-intensive d. labor-intensive23.If Country A has a relatively higher ratio of labo

21、r to the other factors ofproduction than does Country B, then:a. Country A is labor-abundant. b. Country A is labor-scarce.c. Country A is labor-intensive. d. Country B is labor-intensive.24.Given the following relationship:(U.K. land supply) (Rest of the worlds labor supply)one can conclude that:a.

22、 the U.K is labor abundant. b. the U.K. is labor intensive.c. the Rest of the World is labor abundant.d. the Rest of the Worldis land intensive.25. Which of the following economists proposed an international trade modelthat explains international trade patterns using factor proportions?a. Adam Smith

23、 b. David Ricardoc. Eli Heckscher and Bertil Ohlin d. Joseph StiglitzTrue/False Questions26.David Ricardo is the author of the Wealth of Nations.27.Adam Smiths theory of absolute advantage relied on the labor theory ofvalue.28.Mercantilists believed that when one country benefited from international

24、trade it was at the expense of another country or countries.29.If Country X has a higher level of labor productivity than the rest of theworld in the production of a good, it is said that Country X has a comparativeadvantage in the production of the good.30.If a country does not have an absolute adv

25、antage in the production of aleast one good, then trade will not take place.31.If Country A is more productive than Country B in the production of bothGood X and Good Y, then economists expect that Country A will produceeverything and export both Good X and Good Y to Country B.32.In the two-country,

26、 two-good model, both countries can gain from trade aslong as their relative advantages and disadvantages in producing differentgoods are different.33.Heckscher-Ohlin theory relies upon the factor proportions used in theproduction of different goods and differences in the endowments ofdifferent fact

27、ors in different countries to explain international tradepatterns.34.If Country A is relatively land-abundant and Country B is relatively labor-abundant, Heckscher-Ohlin theory predicts that Country A will exporttextiles (a relatively labor-intensive good) and Country B will export corn (arelatively

28、 land-intensive good).35.Heckscher-Ohlin theory predicts that trade occurs because of differencesin:a. the availability of factor inputs to production across countries.b. the proportions of factor inputs used in the production of differentproducts.c. the composition of the work force in a country. d

29、. both a and b.36.The theory that predicts that trade occurs because of differences in theavailability of factor inputs across countries and the differences in theproportions in which the factor inputs are used in producing differentproducts is called:a. the Stolper-Samuelson theory. b. the Hecksche

30、r-Ohlin theory.c. comparative advantage. d. absolute advantage.37.In Country X land is relatively abundant and labor is relatively scarce. Inthe short-run after trade opens, we expect that:a. landlords will charge lower rents and farm workers will earn lowerwages.b. landlords will charge lower rents

31、 and farm workers will earn higherwages.c. landlords will charge higher rents and farm workers will earn lowerwages.d. landlords will charge higher rents and farm workers will earnhigher wages.38.Which of the following predicts that in the long-run following the openingof trade, labor will earn the

32、same wage in the domestic market and inthe foreign market?a. Factor-Price Equalization Theorem b. Specialized-Factor Patternc. Heckscher-Ohlin Theory d. Leontief Paradox39.With free trade, if Country X is relatively land abundant and relativelylabor scarce and Country Y is relatively land scarce and

33、 relatively laborabundant, the factor-price equalization theorem predicts that:a. wages will rise in Country X and fall in Country Y until theyequalize.b. wages will rise in Country Y and fall in Country X until theyequalize.c. wages will rise in Country X and land rents will fall in Country Xuntil

34、they equalize.d. wages will fall in Country X and land rents will rise in Country Xuntil they equalize.40.With free trade, if Country X is relatively labor abundant and relativelyland scarce and Country Y is relatively labor scarce and relatively landabundant, the factor-price equalization theorem p

35、redicts that:a. land rents will rise in Country X and fall in Country Y until theyequalize.b. land rents will fall in Country X and rise in Country Y until theyequalize.c. wages will rise in Country X and fall in Country Y until theyequalize.d. both a and c41.The factor-price equalization theorem pr

36、edicts that even without themigration of factors between countries, free trade will cause:a. workers with the same skill levels to earn the same wage rate inboth countries.b. land of comparable quality will earn the same rent in bothcountries.c. both a and b. d. none of the above.42.Which of the fol

37、lowing was tested by Leontief?a. comparative advantage b. Stolper-Samuelson Theoremc. absolute advantage d. Heckscher-Ohlin Theory43.Factor-price equalization theory predicts that the price of labor and landwithin a country will equalize.44.The United States is a net exporter of skilled labor.45.Leo

38、ntief found evidence that supports Heckscher-Ohlin theory.46.Which of the following is two-way trade in which the country bothexports and imports products that are the same or similar?a. net trade b. product differentiation tradec. intra-industry trade d. internal trade47.Which of the following is t

39、he value of the difference between exports andimports for a product?a. product differentiation b. net tradec. intra-industry trade d. constant returns to trade48.Which of the following is not an example of intra-industry trade?a. Europe exports Airbus airplanes and imports Boeing airplanes.b. Americ

40、ans export Jeeps and import Jaguars.c. Japan exports cars and imports oil.d. America exports films to the rest of the world and imports foreignfilms.49.Which of the following statements about intra-industry trade is accurate?(1) Intra-industry trade occurs primarily between developed countries.(2) I

41、ntra-industry trade is less prevalent where trade barriers are low.(3) Intra-industry trade has become more prominent over the last 50years.a. (1) + (2) b. (2) + (3)c. (1) + (3) d. (1) + (2) + (3)50.Which of the following is the formula for the intra-industry trade (IIT)share?a. 1 (Sum of |X M|) b.

42、1 (Sum of X + M)c. 1 (Sum of |X M|/Sum of X + M) d. X M51.Net trade is the value of the difference between exports and imports for aproduct.52.Intra-industry trade is two-way trade in which the country both exportsand imports products that are the same or similar.53.A _ is a tax on importing a good

43、or service into a country.a. quota b. Tariff c. consumption effect d. one-dollar, one-votemetric54.Which of the following is a tax on imports that is levied as a moneyamount per physical unit of import?a. specific tariff b. ad valorem tariff c. consumption effectd. quota55.Which of the following is

44、a tax on imports that charges a percentage of theestimated market value of a good?a. specific tariff b. ad valorem tariff c. consumption effectd. quota56.Which of the following refers to the percentage by which a nations tradebarriers raises an industrys value added per unit of output?a. one-dollar,

45、 one-vote metric b. effective rate of protectionc. terms-of-trade effect d. monopsony power57.Given the following information about lamp production in Klokionia,what is the effective rate of protection afforded to the Klokionian lampindustry by a 20% tariff on lamps?With free trade:Unit value (price

46、) of a lamp = $175.00Unit cost of lamp inputs = $100.00With 20% tariff on lamps:Unit value (price) of a lamp = $210.00Unit cost of lamp inputs = $100.00a. 20% b. 46.67% c. 100% d. 102.67%58.Which of the following statements about the effective rate of protection isaccurate?(1)The effective rate of t

47、ariff protection will be greater than the nominalrate when the industrys output is protected by a higher duty than thetariff duties on its input.(2)If the tariff rate on the inputs to production are the same as the tariff rate onthe output, then the effective rate of protection will be the same as t

48、henominal rate charged on the output.(3)The effective rate of protection cannot be less than 0.a. (1) b. (1) + (2) c. (1) + (3) d. (2) + (3)59.Klokionia is a small country. Figure 7.2 illustrates the transition fromautarky to free trade in the Klokionian lamp market. Answer thefollowing questions ba

49、sed on Figure 7.2.a. In autarky, Klokionian producers produced _ thousandlamps.b. In autarky, Klokionian consumers consumed _ thousandlamps.c. In autarky, the price of lamps in Klokionia was $_.d. In autarky, consumer surplus in the Klokionian lamp market was$_ thousand.e. In autarky, producer surpl

50、us in the Klokionian lamp market was$_ thousand.f. With free trade, Klokionian producers produced _ thousandlamps.g. With free trade, Klokionian consumers consumed _thousand lamps.h. With free trade, Klokionia imports _ thousand lamps.i. With free trade, domestically produced Klokionian lamps cost$_

51、.j. With free trade, imported Klokionian lamps cost $_.k. With free trade, producer surplus in the Klokionian lamp market is$_ thousand.l. With free trade, consumer surplus in the Klokionian lamp market is$_ thousand.m. With free trade, foreign producers earn revenue of $_thousand in the Klokionian

52、lamp market.60.An ad valorem tariff charges a percentage of the estimated market value ofa good.61.A specific tariff charges a percentage of the estimated market value of agood.62.Which of the following is any policy, other than an import tariff, used bythe government to reduce imports?a. nontariff

53、barrier b. import quotac. fixed favoritism d. voluntary export restraint63.Which of the following is a limit on the total quantity of imports of aproduct allowed into a country in a given period of time?a. import tariff b. import quota c. fixed favoritismd. voluntary export restraint64.Which of the

54、following is nota means by which a nontariff barrier canrestrict imports?a. A nontariff barrier can limit the quantity of imports.b. A nontariff barrier can create uncertainty about the conditionsunder which imports will be permitted.c. A nontariff barrier can charge a set amount of money per unitim

55、ported and thereby reduce the quantity demanded by domesticconsumers.d. A nontariff barrier can increase the cost of getting imports into thedomestic market.65.Which of the following is a means of allocating import licenses byassigning the licenses without competition, applications, ornegotiation?a.

56、 resource-using application procedures b. import-license auctionc. fixed favoritism d. domestic content requirement66.Which of the following involves the allocation of import licenses byselling the licenses on a competitive basis to the highest bidders?a. resource-using application procedures b. imp

57、ort-license auctionc. fixed favoritism d. domestic content requirement67.Which of the following allocates import licenses on a first-come, first-served basis; on the basis of need or worthiness; or on the basis ofnegotiations?a. resource-using application procedures b. import-license auctionc. fixed

58、 favoritism d. domestic content requirement68.Which of the following has overseen the global rules of governmentpolicy toward international trade since 1995?a. World Trade Organization b. General Agreement on Tariffs andTradec. International Monetary Fund d. World Bank69.Which of the following is no

59、ta major principle of the World TradeOrganization?a. Countries should deposit money at the World Bank during periodsof economic expansion and should withdraw money from the Bankduring periods of economic recession.b. Countries should not encourage exports in an unfair way.c. Countries should adhere

60、to the most-favored nation principle.d. Countries should move towards trade liberalization.70.Which of the following is an effect of the Uruguay Round?(1)The Uruguay Round included provisions for future negotiations toliberalize trade in services.(2)The Uruguay Round included agreement requiring mem