国经课后习题课件

1、第一章1、International trade forces domestic firms to become more competitive in terms of: a.The introduction of new productsb.Product design and qualityc.Product priced.All of the aboveAnswer: d12、The movement to free international trade is most likely to generate short-term unemployment in which indus

2、tries?a.Industries in which there are neither imports nor exportsb.Import-competing industriesc.Industries that sell to domestic and foreign buyersd.Industries that sell to only foreign buyersAnswer: bMULTIPLE-CHOICE QUESTIONS23 How much physical output a worker producers in an hours work depends on

3、:a.The workers motivation and skillb.The technology, plant, and equipment in usec.How easy the product is to manufactured. All of the aboveAnswer: d34 A firms _, relative to that of other firms, is generally regarded as the most important determinant of competitiveness.a.Income levelb.Tastes and pre

4、ferencesc.Environmental regulationd. ProductivityAnswer: d46For a nation to maximize its productivity in a global economy:a.Only imports are necessaryb.Only exports are necessaryc. Both imports and exports are necessaryd.Neither imports nor exports are necessaryAnswer: c67 International trade in goo

5、ds and services tends to:a.Increase all domestic costs and pricesb.Keep all domestic costs and prices at the same levelc.Lessen the amount of competition facing home manufacturersd. Increase the amount of competition facing home manufacturersAnswer: d73 Although free trade provides benefits for cons

6、umers, it is often argued that import protection should be provided to domestic producers of strategic goods and materials vital to the nations security.True4 In the long run, competitiveness depends on an industrys natural resources, its stock of machinery and equipment, and the skill of its worker

7、s in creating goods that people want to buy.True95 If a nation has an open economy, it means that the nation allows private ownership of capital. False6 Increased foreign competition tends to increase profits of domestic import-competing companies.False10第二章 1.The mercantilists would have objected t

8、o:a.Export promotion policies initiated by the governmentb.The use of tariffs or quotas to restrict importsc.Trade policies designed to accumulate gold and other precious metalsd. International trade based on open marketsAnswer: d112.Unlike the mercantilists, Adam Smith maintained that:a.Trade benef

9、its one nation only at the expense of another nationb.Government control of trade leads to maximum economic welfarec. All nations can gain from free international traded.The worlds output of goods must remain constant over timeAnswer: c123.Unlike Adam Smith, David Ricardos trading principle emphasiz

10、es the:a.Demand side of the marketb.Supply side of the marketc. Role of comparative costsd.Role of absolute costsAnswer: c134.When a nation requires fewer resources than another nation to produce a product, the nation is said to have a (an):a. Absolute advantage in the production of the productb.Com

11、parative advantage in the production of the productc.Lower marginal rate of transformation for the productd.Lower opportunity cost of producing the productAnswer: a146.In a two-product, two-country world, international trade can lead to increases in:a.Consumer welfare only if output of both products

12、 is increasedb. Output of both products and consumer welfare in both countriesc.Total production of both products, but not consumer welfare in both countriesd.Consumer welfare in both countries, but not total production of both productsAnswer: b167.International trade is based on the notion that:a.D

13、ifferent currencies are an obstacle to international tradeb. Goods are more mobile internationally than are resourcesc.Resources are more mobile internationally than are goodsd.A countrys exports should always exceed its importsAnswer: b179.The Ricardian model of comparative advantage is based on al

14、l of the following assumptions except:a.Only two nations and two productsb. Product quality varies among nationsc.Labor is the only factor of productiond.Labor can move freely within a nationAnswer: b19TRUE-FALSE QUESTIONS1.According to the mercantilists, a nations welfare would improve if it mainta

15、ined a surplus of exports over imports True2.The trade theories of Adam Smith and David Ricardo viewed the determination of competitiveness from the demand side of the market.False203.The principle of absolute advantage asserts that mutually beneficial trade can occur even if one nation is absolutel

16、y more efficient in the production of all goods.False4.The principle of comparative advantage contends that a nation should specialize in and export the good in which its absolute advantage is smallest or its absolute disadvantage is greatest.False215.Compared to Ricardian trade theory, modern trade

17、 theory provides a more general view of comparative advantage since it is based on all factors of production rather than just labor.True6.According to the principle of comparative advantage, an open trading system results in resources being channeled from uses of low productivity to those of high pr

18、oductivity.True22第三章1.Which of the following is false concerning indifference curves?a.They illustrate how the nation ranks alternative consumption bundlesb.Higher curves refer to more satisfactionc.They are negatively sloped, being bowed out away from the diagrams origind.They reflect the tastes an

19、d preferences of a consumerAnswer: c232.The amount of one good that is just sufficient to compensate the consumer for the loss of some amount of another good is referred to as:a.Absolute costb.Comparative costc.Marginal rate of transformationd. Marginal rate of substitutionAnswer: d24Trade between t

20、wo nations would not be possible if they have:a.Identical community indifference curves but different production possibilities curvesb.Identical production possibilities curves but different community indifference curvesc.Different production possibilities curves and different community indifference

21、 curvesd. Identical production possibilities curves and identical community indifference curvesAnswer: d26The equilibrium prices and quantities established after trade are fully determinate if we know:a.The location of all countries indifference curvesb.The shape of each countrys production possibil

22、ities curvec.The comparative costs of each trading partnerd. The strength of world supply and demand for each goodAnswer: d27TRUE-FALSE QUESTIONS1.Modern trade theory recognizes that the pattern of world trade is governed by both demand conditions and supply conditions.Answer: True2.Because the Rica

23、rdian theory of comparative advantage was based only on a nations demand conditions, it could not fully explain the distribution of the gains from trade among trading partners.False293.Although J. S. Mill recognized that the region of mutually beneficial trade is bounded by the cost ratios of two co

24、untries, it was not until David Ricardo developed the theory of reciprocal demand that the equilibrium terms of trade could be determined.False4.According to J. S. Mill, if we know the domestic demand expressed by both trading partners for both products, the equilibrium terms of trade can be defined

25、. True305The theory of reciprocal demand best applies when one country has a “large” economy and the other country has a “small” economy.False6.A nation benefits from international trade if it can achieve a higher indifference curve than it can in autarky.True31第四章Which of the following suggests tha

26、t a nation will export the commodity in the production of which a great deal of its relatively abundant and cheap factor is used?a.The Linder theoryb.The product life cycle theoryc.The MacDougall theoryd. The Heckscher-Ohlin theoryAnswer: d32The Leontief paradox questioned the validity of the theory

27、 of:a.Comparative advantageb.Factor endowmentsc.Overlapping demandsd.Absolute advantageAnswer: b33Assume that Country A, in the absence of trade, finds itself relatively abundant in labor and relatively scarce in land. The factor endowment theory reasons that with free trade, the internal distributi

28、on of national income in Country A will change in favor of:a. Laborb.Landc.Both labor and landd.Neither labor nor landAnswer: a34When considering the effects of transportation costs, the conclusions of our trade model must be modified. This is because transportation costs result in:a. Lower trade vo

29、lume, higher import prices, smaller gains from tradeb.Lower trade volume, lower import prices, smaller gains from tradec.Higher trade volume, higher import prices, smaller gains from traded.Higher trade volume, lower import prices, greater gains from tradeAnswer: a35Assume the cost of transporting a

30、utos from Japan to Canada exceeds the pretrade price difference for autos between Japan and Canada. Trade in autos is:a. Impossibleb.Possiblec.Highly profitabled.Moderately profitableAnswer: a36Eli Heckscher and Bertil Ohlin are associated with the theory of comparative advantage that stresses diffe

31、rences in:a.Income levels among countriesb.Tastes and preferences among countriesc. Resource endowments among countriesd.Labor productivities among countriesAnswer: c37Hong Kong is relatively abundant in labor, while Canada is relatively abundant in capital. In both countries the production of shirt

32、s is relatively more labor intensive than the production of computers. According to the factor endowment theory, Hong Kong will have a (an):a.Absolute advantage in the production of shirts and computersb.Absolute advantage in the production of computersc. Comparative advantage in the production of s

33、hirtsd.Comparative advantage in the production of computersAnswer: c38A firm is said to enjoy economies of scale over the range of output for which the long-run average cost is:a.Increasingb.Constantc. Decreasingd.None of the aboveAnswer: c39Which of the following suggests that by widening the marke

34、ts size, international trade can permit longer production runs for manufacturers, which leads to increasing efficiency?a. Economies of scaleb.Diseconomies of scalec.Comparative cost theoryd.Absolute cost theoryAnswer: a40TRUE-FALSE QUESTIONSThe Heckscher-Ohlin theory asserts that relative difference

35、s in labor productivity underlie comparative advantage.FalseThe factor-endowment theory highlights the relative abundance of a nations resources as the key factor underlying comparative advantage.True41According to the factor-endowment theory, a nation will export that good for which a large amount

36、of the relatively scarce resource is used.FalseThe Heckscher-Ohlin theory suggests that land-abundant nations will export land-intensive goods while labor-abundant nations will export labor-intensive goods.True42The Heckscher-Ohlin theory emphasizes the role that demand plays in the creation of comp

37、arative advantage.FalseAccording to the factor-endowment theory, international specialization and trade cause a nations cheap resource to become cheaper and a nations expensive resource to become more expensive False43Because seasons in the Southern Hemisphere are opposite those in the Northern Hemi

38、sphere, one would expect intraindustry trade to occur in agricultural products.True44第五章Suppose that the United States eliminates its tariff on steel imports, permitting foreign-produced steel to enter the U.S. market. Steel prices to U.S. consumers would be expected to:a.Increase, and the foreign d

39、emand for U.S. exports would increaseb. Decrease, and the foreign demand for U.S. exports would increasec.Increase, and the foreign demand for U.S. exports would decreased.Decrease, and the foreign demand for U.S. exports would decreaseAnswer: b45A lower tariff on imported aluminum would most likely

40、 benefit:a.Foreign producers at the expense of domestic consumersb.Domestic manufacturers of aluminumc. Domestic consumers of aluminumd.Workers in the domestic aluminum industryAnswer: c46The redistribution effect of an import tariff is the transfer of income from the domestic: a.Producers to domest

41、ic buyers of the goodb. Buyers to domestic producers of the goodc.Buyers to the domestic governmentd.Government to the domestic buyersAnswer: b47Which of the following is true concerning a specific tariff? a.It is exclusively used by the U.S. in its tariff schedulesb.It refers to a flat percentage d

42、uty applied to a goods market valuec.It is plagued by problems associated with assessing import product valuesd. It affords less protection to home producers during eras of rising pricesAnswer: d48The principal benefit of tariff protection goes to:a.Domestic consumers of the good producedb. Domestic

43、 producers of the good producedc.Foreign producers of the good producedd.Foreign consumers of the good producedAnswer: b49The deadweight loss of a tariff:a. Is a social loss since it promotes inefficient productionb.Is a social loss since it reduces the revenue for the governmentc.Is not a social lo

44、ss because society as a whole doesnt pay for the lossd.Is not a social loss since only business firms suffer revenue lossesAnswer: a50Which of the following is a fixed percentage of the value of an imported product as it enters the country?a.Specific tariffb. Ad valorem tariffc.Nominal tariffd.Effec

45、tive tariffAnswer: b51A tax of 20 cents per unit of imported cheese would be an example of: a.Compound tariffb.Effective tariffc.Ad valorem tariffd. Specific tariffAnswer: d52Free traders point out that: a.There is usually an efficiency gain from having tariffsb. There is usually an efficiency loss

46、from having tariffsc.Producers lose from tariffs at the expense of consumersd.Producers lose from tariffs at the expense of the governmentAnswer: b53A decrease in the import tariff will result in: a. An increase in imports but a decrease in domestic productionb.A decrease in imports but an increase

47、in domestic productionc.An increase in price but a decrease in quantity purchasedd.A decrease in price and a decrease in quantity purchasedAnswer: a54TRUE-FALSE QUESTIONSWith a compound tariff, a domestic importer of an automobile might be required to pay a duty of $200 plus 4 percent of the value o

48、f the automobile.Ture55During a business recession, when cheaper products are purchased, a specific tariff provides domestic producers a greater amount of protection against import-competing goods.TureBonded warehouses and foreign trade zones have the effect of allowing domestic importers to postpon

49、e and prorate over time their import duty obligations.Ture56Producer surplus is the revenue producers receive over and above the minimum necessary for production.TureFor a “small” country, a tariff raises the domestic price of an imported product by the full amount of the duty.Ture57A “large” countr

50、y, that levies a tariff on imports, cannot improve the terms at which it trades with other countries.FalseFor a “large” country, a tariff on an imported product may be partially absorbed by the domestic consumer via a higher purchase price and partially absorbed by the foreign producer via a lower e

51、xport price.Ture58第七章The World Trade Organization was established by the _ of multilateral trade negotiations. a.Kennedy Roundb.Tokyo Roundc. Uruguay Roundd.Clinton RoundAnswer: c59The Export-Import Bank of the United States encourages American firms to sell overseas by providing direct loans and lo

52、an guarantees to foreign purchasers of American goods. To American firms, this represents a (an):a.Specific subsidyb.Ad valorem subsidyc.Domestic subsidyd. Export subsidyAnswer: d60The Smoot-Hawley Tariff Act of 1930 has generally been associated with:a.Falling tariffsb.Increases in the volume of tr

53、adec. Intensifying the worldwide depressiond.Efforts to liberalize nontariff trade barriersAnswer: c61Under U.S. commercial policy, which clause permits the modification of a trade liberalization agreement on a temporary basis if serious injury occurs to domestic producers as a result of the agreeme

54、nt?a.Adjustment assistance clauseb. Escape clausec.Most-favored-nation claused.Reciprocal-trade clauseAnswer: b62The General Agreement on Tariffs and Trade and its successor, the World Trade Organization, have resulted in:a.Termination of export subsidies applied to manufactured goodsb.Termination o

55、f import tariffs applied to manufactured goodsc.Encouragement of beggar-thy-neighbor policiesd. Reductions in trade barriers via multilateral negotiationsAnswer: d63Throughout the post-World War II era, the importance of tariffs as a trade barrier has:a.Increasedb. Decreasedc.Remained the samed.None

56、 of the aboveAnswer: b64During the past four decades:a.Nontariff barriers (NTBs) and tariffs have increased in importanceb.NTBs and tariffs have decreased in importancec. NTBs have increased and tariffs have decreased in importanced.NTBs have decreased and tariffs have increased in importanceAnswer:

57、 c65Industrial policy attempts to fulfill all of the following objectives except:a.Improving the infrastructure for an industryb.Easing transitions for workers in declining industriesc.Supporting troubled industries if the difficulty is temporaryd. Fostering industries which offer long-run comparati

58、ve disadvantageAnswer: d66The World Trade Organization provides for all of the following except:a.The usage of the normal-trade-relation (most-favored-nation) clauseb.Assistance in the settlement of trade disagreementsc.Multilateral tariff reductionsd. Bilateral tariff reductionsAnswer: d67TRUE-FALS

59、E QUESTIONSWith the passage of the Smoot-Hawley Act in 1930, U.S. average tariffs were raised to over 50 percent on protected imports.TrueAccording to the General Agreement on Tariffs and Trade and its successor, the World Trade Organization, only bilateral trade negotiations can take place between

60、a country and its trading partners.False68Members of the General Agreement on Tariffs and Trade and its successor, the World trade through Trade Organization, agree to the principle of nondiscrimination in trade and the reduction of trade barriers by multilateral negotiations.True69Intellectual prop