国际经济学题目2

国际经济学题目2国际经济学题目2PAGEPAGE95/22CHAPTER3SOURCESOFCOMPARATIVEADVANTAGEMULTIPLE-CHOICEQUESTIONSWhichofthefollowingsuggeststhatanationwillexportthecommodityintheproductionofwhichagreatdealofitsrelativelyabundantandcheapfactorisused?TheLindertheoryTheproductlifecycletheoryTheMacDougalltheoryTheHeckscher-OhlintheoryAccordingtoStaffanLinder,tradebetweentwocountriestendstobemostpronouncedwhenthecountries:FindtheirtastesandpreferencestobeharmoniousExperienceeconomiesoflarge-scaleproductionlargeoutputlevelsFacedissimilarrelativeabundancesofthefactorsproductionFind their per-capita income levels to approximatelythesameWhichofthefollowingisalong-runtheory,emphasizingchangesinthetradingpositionofanationoveranumberofyears?TheoryoffactorendowmentsComparativeadvantagetheoryTheoryoftheproductcycleOverlappingdemandtheoryTheLeontiefparadoxquestionedthevalidityofthetheoryof:ComparativeadvantageFactorendowmentsOverlappingdemandsAbsoluteadvantageWhichofthefollowingwouldleastlikelyapplytoproductlifecycletheory?CalculatorsandcomputersCoalandcrudeoilHomemoviecamerasOfficemachineryClassicaltradetheoryemphasizedwhichofthefollowingasanunderlyingexplanationofthebasisfortrade?ProductivitiesoflaborinputsTastesandpreferencesamongnationsChangesintechnologiesovertimeQuantitiesofeconomicresourcesConcerningtheinfluencethattransportationcostshaveonthelocationofindustry,whichofthefollowingindustrieshasgenerallyattemptedtolocateproductionfacilitiesclosetoresourcesupplies?AutosSteelSoftdrinksValuableelectronicsgoodsAssumethatCountryA,intheabsenceoftrade,findsitselfrelativelyabundantinlaborandrelativelyscarceinland.Thefactorendowmenttheoryreasonsthatwithfreetrade,theinternaldistributionofnationalinCountryAwillchangeinfavorof:LaborLandBothlaborandlandNeitherlabornorlandWhenconsideringtheeffectsoftransportationcosts,theconclusionsofourtrademodelmustbemodified.Thisbecausetransportationcostsresultin:Lowertradevolume,higherimportprices,smallergainsfromtradeLowertradevolume,lowerimportprices,smallerfromtradeHighertradevolume,higherimportprices,gainsfromtradeHighertradevolume,lowerimportprices,greatergainsfromtradeMosteconomistsmaintainthatthemajorfactorunderlyingwagestagnationintheUnitedStatesinthe1990shasImportcompetitionTechnologicalchangeRisingrealvalueoftheminimumwageIncreasingunionmembershipAssumethecostoftransportingautosfromJapantoCanadaexceedsthepretradepricedifferenceforautosbetweenJapanandCanada.Tradeinautosis:ImpossiblePossibleHighlyprofitableModeratelyprofitableEliHeckscherandBertilOhlinareassociatedwiththeoryofcomparativeadvantagethatstressesdifferencesin:IncomelevelsamongcountriesTastesandpreferencesamongcountriesResourceendowmentsamongcountriesLaborproductivitiesamongcountriesHongKongisrelativelyabundantinlabor,whileCanadaisrelativelyabundantincapital.Inbothcountriesproductionofshirtsisrelativelymorelaborintensivethantheproductionofcomputers.Accordingtothefactorendowmenttheory,HongKongwillhavea(n):AbsoluteadvantageintheproductionofshirtscomputersAbsoluteadvantageintheproductionofcomputersComparativeadvantageintheproductionofshirtsComparativeadvantageintheproductionofcomputersIfJapaneseworkersreceivelower wagesintheproductionofautosthandoAmericanworkers:JapanwillhaveacomparativeadvantageinproductionofautosJapan will have an absolute advantage in productionofautosProductioncostswillbelowerinJapanthaninU.S.ProductioncostscouldbelowerintheU.S.ifAmericanlaborproductivityishigherthanJapaneseWhichtradetheorysuggeststhatanewlyproducedgood,onceexported,couldultimatelyendupbeingimportedthetechnologyistransferredtolower-costnations?FactorendowmenttheoryProductlifecycletheoryOverlappingdemandtheoryComparativeadvantagetheoryAfirmissaidtoenjoyeconomiesofscaleovertheofoutputforwhichthelong-runaveragecostis:IncreasingConstantDecreasingNoneoftheaboveAproductwillbeinternationallytradedaslongasthepretradepricedifferentialbetweenthetradingpartnersis:GreaterthanthecostoftransportingitbetweenthemEqualtothecostoftransportingitbetweenthemLessthanthecostoftransportingitbetweenthemNoneoftheaboveWhichofthefollowingsuggeststhatbywideningthemarket’ssize,internationaltradecanpermitproductionrunsformanufacturers,whichleadstoincreasingefficiency?EconomiesofscaleDiseconomiesofscaleComparativecosttheoryAbsolutecosttheoryTheLeontiefparadox:WasappliedtotheproductlifecycletheorySuggestedthattheU.S.exportslabor-intensivegoodsFoundthatnationalincomedifferencesunderlietradepatternsImpliedthatdiseconomiesofscaleoccuratlowlevelsWhichofthefollowingbest appliestothetheoryoverlappingdemands?ManufacturedgoodsServicesPrimaryproductsNoneoftheaboveTheHeckscher-Ohlintheoryexplainscomparativeadvantageastheresultofdifferencesincountries’:Economiesoflarge-scaleproductionRelativeabundanceofvariousresourcesRelativecostsoflaborResearchanddevelopmentBoeingaircraftcompanywasabletocoveritsproductioncostsofthefirst“jumbojet”inthe1970sbecauseBoeingcouldmarketittoseveralforeignairlinesinadditiontodomesticairlines.Thisillustrates:HoweconomiesofscalemakepossiblealargervarietyofproductsininternationaltradeAtransferofwealthfromdomesticconsumersdomesticproducersastheresultoftradeHowanaturalmonopolyisforcedtobehavecompetitivelywithinternationaltradeHowanaturalmonopolyisforcedtobehavecompetitivelywithinternationaltradeWhichtradetheorycontendsthatacountrythatinitiallydevelopsandexportsanewproductmayeventuallyanimporterofitandmaynolongermanufacturetheproduct?TheoryoffactorendowmentsTheoryofoverlappingdemandsEconomiesofscaletheoryProductlifecycletheoryThetheoryofoverlappingdemandspredictsthattrademanufacturedgoodsisunimportant forcountrieswithverydifferent:TastesandpreferencesExpectationsoffutureinterestratelevelsPer-capitaincomelevelsLaborproductivitiesThetrademodeloftheSwedisheconomistsHeckscherOhlinmaintainsthat:AbsoluteadvantagedeterminesthedistributionofgainsfromtradeComparativeadvantagedeterminesthedistributionthegainsfromtradeThedivisionoflaborislimitedbythesizeofworldmarketAcountryexportsgoodsforwhichitsresourceendowmentsaremostsuitedAccordingtothefactorendowmentmodel,countriesheavilyendowedwithlandwill:DevoteexcessiveamountsofresourcestoproductionDevote insufficient amounts of resources agriculturalproductionExportproductsthatareland-intensiveImportproductsthatareland-intensiveFortheUnitedStates,empiricalstudiesindicatethatoverthepasttwodecadesthecostoftransportationrelativetothevalueofU.S.importshas:IncreasedDecreasedNotchangedNoneoftheaboveShouldinternationaltransportationcostsdecrease ,effectoninternationaltradewouldincludea(n):IncreaseinthevolumeoftradeSmallergainfromtradeDeclineintheincomeofhomeproducersDecreaseinthelevelofspecializationinproduction.Thatthedivisionoflaborislimitedbythesizeofthemarketbestappliestowhichexplanationoftrade?FactorendowmenttheoryProductlifecycletheoryEconomiesofscaletheoryOverlappingdemandtheoryAlargervarietyofproductsresultsfromtradeespeciallyif:InternationaltradeaffordsproducersmonopolypowerNationalgovernmentslevyimporttariffsandquotasProducinggoodsentailsincreasingcostsEconomiesofscaleexistforproducersWitheconomiesofscaleanddecreasingunitcosts,countryhastheincentiveto:Specialize completely in the product of comparativeadvantageSpecializepartiallyintheproductofitscomparativeadvantageSpecialize completely in the product of comparativedisadvantageSpecializepartiallyintheproductofitscomparativedisadvantageProponentsof

maintainthatgovernmentshouldenactpoliciesthatencouragethedevelopmentofemerging,“sunrise”industries.ProductlifecyclepolicyStaticcomparativeadvantagepolicyIntraindustrytradepolicyIndustrialpolicyLegislationrequiringdomesticmanufacturerstopollutionabatementequipmenttendstopromote:HigherproductioncostsandanincreaseinoutputHigherproductioncostsandadecreaseinoutputLowerproductioncostsandanincreaseinoutputLowerproductioncostsandadecreaseinoutputStringentgovernmentalregulations(e.g.,airqualitystandards)imposedondomesticsteelmanufacturerstendEnhancetheircompetitivenessinthemarketDetract from their competitiveness in internationalmarketIncrease the profitability and productivity domesticmanufacturersReducethemarketshareofforeignfirmssellinginthedomesticmarketAmongthedeterminantsunderlyingacountry’sinternationalcompetitivenessinbusinessservicesconstruction)are:Thepotentialscaleeconomiesaffordedbyamarket’ssizeAbundanceofequipmentincludingdataprocessingfacilitiesandcomputersSkillsandcapabilitiesofemployeesandtheirratesAlloftheaboveThesimultaneousimportandexportofcomputersbyGermanyisanexampleof:IntraindustrytradeInterindustrytradePerfectcompetitionImperfectcompetitionLinder’stheoryofoverlappingdemandprovidesexplanationof:ProductlifecycletheoryFactorendowmentmodelEconomiesoflarge-scaleproductionIntraindustrytradeIntraindustrytradecanbeexplainedinpartby:AdamSmith’sprincipleofabsoluteadvantagePerfectcompetitioninproductmarketsDiseconomiesoflargescaleproductionTransportationcostsbetweenandwithinnationsTheLeontiefparadoxprovided:SupportfortheprincipleofabsoluteadvantageSupportforthefactorendowmentmodelEvidenceagainstthefactorendowmentmodelEvidenceagainsttheprincipleofabsoluteadvantageWhichtradetheorysuggeststhatcomparativeadvantagetendstoshiftfromonenationtoanotherasaproductmatures?InterindustrytradetheoryIntraindustrytradetheoryProductlifecycletheoryOverlappingdemandtheoryWhichtradetheoryistantamounttoashort-runversionthefactorpriceequalizationtheory?SpecificfactorstheoryProductlifecycletheoryEconomiesofscaletheoryOverlappingdemandtheoryAccordingtothespecificfactorstradetheory:Ownersoffactorsspecifictoexportindustriessufferfromtrade,whileownersoffactorsspecificimport-competingindustriesgainOwnersoffactorsspecifictoexportindustriesfromtrade,whileownersoffactorsspecifictoimport-competingindustriessufferBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriesgainfromtradeBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriessufferfromtradeWhichnationhassometimesbeencharacterizedasbeinga“pollutionhaven”duetoitslenientstandardsthatencouragetheproductionofpollution-intensivegoods?JapanCanadaGermanyMexicoBoeing Inc. has criticized The Airbus competitivenessonthegroundsthatAirbusbenefitsfrom:ImporttariffsprotectingAirbusintheEuropeanmarketImportquotasprotectingAirbusintheEuropeanmarketLenient environmental standards of governmentsProductionsubsidiessuppliedbyEuropeangovernmentsTojustifythesubsidiesithasreceivedfromEuropeangovernments,TheAirbusCompanyhasusedalloffollowingargumentsexcept:ItssubsidieshavepreventedU.S.aircraftfirmsholdingaworldwidemonopolyU.S.aircraftfirmshavebenefittedfrommilitary-sponsoredprogramsoftheU.S.governmentAirbus’subsidiesweretotallyrepaidastherealizedprofitsonitsaircraftsalesWithoutsubsidiestoAirbus,EuropewouldbedependentontheUnitedStatesasasupplierofaircraftExpandingtradeortechnologicalimprovements:a.IncreasesthedemandforskilledworkersintheU.S.b.DecreasesthedemandforunskilledworkersintheU.S.IncreasestheBothaandb.demandforunskilledworkersintheU.S.Economistsagreethatwagesofunskilledworkersarehelddownby:InternationaltradeTechnologyimprovementsLackofeducationAcombinationofa,b,andcThefactorendowmenttheorystatesthatcomparativeadvantageisexplained:Exclusively by differences in relative conditionsExclusivelybydifferencesinrelativenationalconditionsBothsupplyanddemandconditionsNoneoftheaboveThefactorendowmenttheoryassumes:SametastesandpreferencesFactorinputsofuniformqualitySametechnologyAlloftheaboveInexplaininginternationaltrade,theproductlifetheoryfocuseson:TastesandpreferencesTheroleoftechnologicalinnovationPer-capitaincomelevelsofnationsBothbandc.TRUE-FALSEQUESTIONST F 1.According to Ricardian theory, advantagedependsonrelativedifferencesinlaborproductivity.TF2.TheHeckscher-Ohlintheoryassertsthatrelativedifferencesinlaborproductivityunderliecomparativeadvantage.TF3.Thefactor-endowmenttheoryhighlightstherelativeabundanceofanation’sresourcesasthefactorunderlyingcomparativeadvantage.TF4.Accordingtothefactor-endowmenttheory,awillexportthatgoodforwhichalargeamountoftherelativelyscarceresourceisused.TF5.Accordingtothefactor-endowmenttheory,awillimportthatgoodforwhichalargeamountoftherelativelyabundantresourceisused.TF6.TheHeckscher-Ohlintheorysuggeststhatland-abundantnationswillexportland-intensivewhilelabor-abundantnationswillexportlabor-intensivegoods.TF7.TheHeckscher-Ohlintheorycontendsthatoverperiodofyearsacountrythatinitiallyisexporterofaproductwillbecomeanimporterofthatproduct.TF8.TheHeckscher-Ohlintheoryemphasizestherolethatdemandplaysinthecreationofcomparativeadvantage.TF9.Thefactor-endowmenttheoryassertsthatwithspecializationandtradetheretendstooccuranequalizationintherelativeresourcepricesoftradingpartners.TF10.Accordingtothefactor-endowmenttheory,internationalspecializationandtradecauseanation’scheapresourcetobecomecheaperandanation’sexpensiveresourcetobecomemoreexpensive.T F11.FearsaboutthedownwardpressurethatforeignworkersplaceonU.S.wageshaveledlaborunionstolobbyforimportrestrictionssuchastariffsandquotas.TF12.Accordingtothefactor-price-equalizationinternationaltraderesultsintherelativedifferencesinresourcepricesbetweennationsbeingeliminated.TF13.EmpiricaltestingbyWassilyLeontiefgavetotheHeckscher-Ohlintheoryoftrade.T F14.TheLeontiefParadoxwasthefirstmajorchallengetotheproduct-life-cycletheoryoftrade.T F15.TheLeontiefParadoxsuggestedthat,incontrasttothepredictionsofthefactor-endowmenttheory,exportswerelesscapital-intensivethanU.S.import-competinggoods.TF16.Thespecific-factorstheoryanalyzestheincomedistributioneffectsoftradeintheshortrunwhenresourcesareimmobileamongindustries.TF17.Ownersofresourcesspecifictoexportindustriestendtolosefrominternationaltrade,whileownersoffactorsspecifictoimport-competingindustriestendtogain.T F18.Thefactor-price-equalizationtheoryisashort-runversionofthespecific-factorstheory.TF19.Witheconomiesofscale,specializationinafewproductsallowsamanufacturertobenefitfromlongerproductionrunswhichleadtodecreasingaveragecost.TF20.Withdecreasingcosts,acountryhasanincentivetopartiallyspecializeintheproductofitscomparativeadvantage.T F21.Bywideningthesizeofthedomesticmarket,internationaltradepermitscompaniestoadvantageoflongerproductionrunsandincreasingefficienciessuchasmassproduction.T F22.Thetheoryofoverlappingdemandsappliesbesttradeinmanufacturedgoods.TF23.Decreasingcostconditionsleadtocompletespecializationintheproductionofthecommodityofcomparativeadvantage.TF24.AccordingtoStaffanLinder,thefactorendowmenttheoryisusefulinexplainingtradepatternsinmanufacturedgoods,butnotprimaryproducts.TF25.Thetheoryofoverlappingdemandsassertsthattradeinmanufacturedgoodsisstrongerthesimilarthedemandstructuresoftwocountries.TF26.Thetheoryofoverlappingdemandscontendsthatinternationaltradeinmanufacturedproductsisstrongestamongnationswithsimilarincomelevels.T F27.Accordingtothetheoryofoverlappingdemands,tradeinmanufacturedgoodswouldbegreateramongtwowealthycountriesthanamongawealthycountryandapoorcountry.TF28.RecentstudiesofU.S.resourceendowmentsindicatethattheUnitedStatesismostabundantinunskilledlabor,followedbysemiskilledlaborskilledlabor.TF29.IntraindustrytradewouldoccurifcomputersmanufacturedintheUnitedStatesbyIBMareexportedtoJapanwhiletheUnitedStatesimportscomputersmanufacturedbyHitachiofJapan.TF30.BecauseseasonsintheSouthernHemisphereareoppositethoseintheNorthernHemisphere,wouldexpectintraindustrytradetooccurinagriculturalproducts.TF31.Intraindustrytradecanbeexplainedbyproductdifferentiation,economiesofscale,seasonsoftheyear,andtransportationcosts.T F32.Accordingtothetheoryofintraindustrytrade,manufacturedgoodsundergoatradecycleinwhichthehomecountryinitiallyisanexporterandeventuallybecomesanimporterofaproduct.T F33.Theproduct-life-cycletheoryappliesbesttoinprimaryproductsintheshortrun.T F34.Accordingtotheproduct-life-cycletheory,firststageofaproduct’stradecycleiswhenitisintroducedtothehomemarket.TF35.Accordingtotheproductlifecycletheory,laststageofaproduct’stradecycleiswhenitbecomesanimport-competinggood.TF36.Ricardo’stheoryofcomparativeadvantageisastatictheorythatdoesnotconsiderchangesinternationalcompetitivenessoverthelongrun.TF37.Dynamiccomparativeadvantagereferstocreationofcomparativeadvantagethroughmobilizationofskilledlabor,technology,capital.T F38.Industrialpolicyseekstodirectresourcesdecliningindustriesinwhichproductivityislow,linkagestotherestoftheeconomyareweak,andfuturecompetitivenessisremote.TF39.Europe’sjumbo-jetmanufacturer,Airbus,hasjustifiedreceivinggovernmentalsubsidiesonthegroundsthatthesubsidiespreventtheUnitedfrombecomingamonopolyinthejumbo-jetmarket.TF40.Theimpositionofpollution-controlregulationsondomesticsteelmanufacturersleadstodecreasesinproductioncostsandanimprovementinthesteelmanufacturers’competitiveness.T F41.EmpiricalstudiesconcludethatU.S.policiesareamoreimportantdeterminantoftradeperformancethancapital,rawmaterials,laborskills,andwages.TF42.Mostdevelopingcountrieshavepollution-controllawsandenforcementpoliciesthataremorestringentthanthoseofthemajorindustrialcountries.TF43.Althoughthetheoryofcomparativeadvantageexplainstradeinmanufacturedgoods,ithasnoexplanatoryvaluefortradeinbusinessservices.T F44.Whentransportationcostsareaddedtoourtrademodel,thelow-costexportingcountryproducesconsumesmore,andexportslessthanthatwhichoccursintheabsenceoftransportationcosts.TF45.Whentransportationcostsareaddedtoourtrademodel,thedegreeofspecializationinproductionbetweentwocountriesincreasesasdothegainsfromtrade.T F46.Intheabsenceoftransportationcosts,freetraderesultsintheequalizationofthepricesoftradedgoods,aswellasresourceprices,inthetradingnations.T F47.Inindustrieswherethefinalproductismuchlessweightyorbulkythanthematerialsfromwhichismade,firmstendtolocateproductionresourcesupplies.TF48.Industrialprocessesthataddweightorbulktocommodityarelikelytobelocatednearresourcemarkettominimizetransportationcosts.TF49.Aproductwillbetradedonlyifthecostoftransportingitbetweennationsislessthanthepretradedifferencebetweentheirrelativeproductprices.TF50.Generallyspeaking,transportationcost