国际经济学-选择题集(含答案)

ContentsChapter3LaborProductivityandComparativeAdvantage:TheRicardianModel2Chapter4SpecificFactorsandIncomeDistribution 13Chapter5ResourcesandTrade:TheHeckscher-OhlinModel 22Chapter6TheStandardTradeModel 31Chapter7EconomiesofScale,imperfectCompetition,andInternationalTrade41Chapter8InternationalFactorMovements 50Chapter9TheInstrumentsofTradePolicy 60

Chapter3:LaborProductivityandComparativeAdvantage-TheRicardianModelMultipleChoiceQuestionsCountriestradewitheachotherbecausetheyare_______andbecauseof______.A. different,costsB. similar,scaleeconomiesC. different,scaleeconomiesD. similar,costsNoneoftheabove.Tradebetweentwocountriescanbenefitbothcountriesifeachcountryexportsthatgoodinwhichithasacomparativeadvantage.eachcountryenjoyssuperiortermsoftrade.eachcountryhasamoreelasticdemandfortheimportedgoods.eachcountryhasamoreelasticsupplyforthesuppliedgoods.BothCandD.TheRicardiantheoryofcomparativeadvantagestatesthatacountryhasacomparativeadvantageinwidgetsifoutputperworkerofwidgetsishigherinthatcountry.thatcountry'sexchangerateislow.wageratesinthatcountryarehigh.theoutputperworkerofwidgetsascomparedtotheoutputofsomeotherproductishigherinthatcountry.BothBandC.Inordertoknowwhetheracountryhasacomparativeadvantageintheproductionofoneparticularproductweneedinformationonatleast____unitlaborrequirementsonetwothreefourfiveAcountryengagingintradeaccordingtotheprinciplesofcomparativeadvantagegainsfromtradebecauseitisproducingexportsindirectlymoreefficientlythanitcouldalternatively.isproducingimportsindirectlymoreefficientlythanitcoulddomestically.isproducingexportsusingfewerlaborunits.isproducingimportsindirectlyusingfewerlaborunits.Noneoftheabove.Giventhefollowinginformation:UnitLaborRequirementsClothWidgetsHome1020Foreign6030Neithercountryhasacomparativeadvantage.Homehasacomparativeadvantageincloth.Foreignhasacomparativeadvantageincloth.Homehasacomparativeadvantageinwidgets.Homehasacomparativeadvantageinbothproducts.IfitisascertainedthatForeignusesprison-slavelabortoproduceitsexports,thenhomeshouldexportcloth.exportwidgets.exportbothandimportnothing.exportandimportnothing.Alloftheabove.IftheHomeeconomysufferedameltdown,andtheUnitLaborRequirementsineachoftheproductsquadrupled(thatis,doubledto30forclothand60forwidgets)thenhomeshouldexportcloth.exportwidgets.exportbothandimportnothing.exportandimportnothing.Alloftheabove.IfwagesweretodoubleinHome,thenHomeshould:exportcloth.exportwidgets.exportbothandimportnothing.exportandimportnothing.Alloftheabove.Iftheworldequilibriumpriceofwidgetswere4Cloths,thenbothcountriescouldbenefitfromtradewitheachother.neithercountrycouldbenefitfromtradewitheachother.eachcountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.neithercountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.bothcountrieswillwanttospecializeincloth.Giventhefollowinginformation:NumberofUnitsProducedbyoneUnitofLaborClothWidgetsHome1020Foreign6030Neithercountryhasacomparativeadvantage.Homehasacomparativeadvantageincloth.Foreignhasacomparativeadvantageincloth.Foreignhasacomparativeadvantageinwidgets.Homehasacomparativeadvantageinbothproducts.TheopportunitycostofclothintermsofwidgetsinForeignisifitisascertainedthatForeignusesprison-slavelabortoproduceitsexports,thenhomeshouldexportcloth.exportwidgets.exportbothandimportnothing.exportandimportnothing.Alloftheabove.IfwagesweretodoubleinHome,thenHomeshouldexportcloth.exportwidgets.exportbothandimportnothing.exportandimportnothing.Alloftheabove.Iftheworldequilibriumpriceofwidgetswere4Cloths,thenbothcountriescouldbenefitfromtradewitheachother.neithercountrycouldbenefitfromtradewitheachother.eachcountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.neithercountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.bothcountrieswillwanttospecializeincloth.Iftheworldequilibriumpriceofwidgetswere40cloths,thenbothcountriescouldbenefitfromtradewitheachother.neithercountrycouldbenefitfromtradewitheachother.eachcountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.neithercountrywillwanttoexportthegoodinwhichitenjoyscomparativeadvantage.bothcountrieswillwanttospecializeincloth.Inatwoproducttwocountryworld,internationaltradecanleadtoincreasesinconsumerwelfareonlyifoutputofbothproductsisincreased.outputofbothproductsandconsumerwelfareinbothcountries.totalproductionofbothproductsbutnotconsumerwelfareinbothcountriesconsumerwelfareinbothcountriesbutnottotalproductionofbothproducts.Noneoftheabove.Asaresultoftrade,specializationintheRicardianmodeltendstobecompletewithconstantcostsandwithincreasingpletewithconstantcostsandincompletewithincreasingcosts.incompletewithconstantcostsandcompletewithincreasingcosts.incompletewithconstantcostsandincompletewithincreasingcosts.Noneoftheabove.AnationengagingintradeaccordingtotheRicardianmodelwillfinditsconsumptionbundleinsideitsproductionpossibilitiesfrontier.onitsproductionpossibilitiesfrontier.outsideitsproductionpossibilitiesfrontier.insideitstrade-partner'sproductionpossibilitiesfrontier.onitstrade-partner'sproductionpossibilitiesfrontier.IntheRicardianmodel,ifacountry'stradeisrestricted,thiswillcauseallexceptwhich?Limitspecializationandthedivisionoflabor.ReducethevolumeoftradeandthegainsfromtradeCausenationstoproduceinsidetheirproductionpossibilitiescurvesMayresultinacountryproducingsomeoftheproductofitscomparativedisadvantageNoneoftheabove.IfaverysmallcountrytradeswithaverylargecountryaccordingtotheRicardianmodel,thenthesmallcountrywillsufferadecreaseineconomicwelfare.thelargecountrywillsufferadecreaseineconomicwelfare.thesmallcountrywillenjoygainsfromtrade.thelargecountrywillenjoygainsfromtrade.Noneoftheabove.IftheworldtermsoftradeforacountryaresomewherebetweenthedomesticcostratioofHandthatofF,thencountryHbutnotcountryFwillgainfromtrade.countryHandcountryFwillbothgainfromtrade.neithercountryHnorFwillgainfromtrade.onlythecountrywhosegovernmentsubsidizesitsexportswillgain.Noneoftheabove.IftheworldtermsoftradeequalthoseofcountryF,thencountryHbutnotcountryFwillgainfromtrade.countryHandcountryFwillbothgainfromtrade.neithercountryHnorFwillgainfromtrade.onlythecountrywhosegovernmentsubsidizesitsexportswillgain.Noneoftheabove.Iftheworldtermsoftradeequalthoseofcountry,FthencountryHbutnotcountryFwillgainfromtrade.countryHandcountryFwillbothgainfromtrade.neithercountryHnorFwillgainfromtrade.onlythecountrywhosegovernmentsubsidizesitsexportswillgain.Noneoftheabove.Ifaproductionpossibilitiesfrontierisbowedout(concavetotheorigin),thenproductionoccursunderconditionsofconstantopportunitycosts.increasingopportunitycosts.decreasingopportunitycosts.infiniteopportunitycosts.Noneoftheabove.Iftwocountrieshaveidenticalproductionpossibilityfrontiers,thentradebetweenthemisnotlikelyiftheirsupplycurvesareidentical.theircostfunctionsareidentical.theirdemandconditionsidentical.theirincomesareidentical.Noneoftheabove.Iftwocountrieshaveidenticalproductionpossibilityfrontiers,thentradebetweenthemisnotlikelyiftheirsupplycurvesareidentical.theircostfunctionsareidentical.theirdemandfunctionsdiffer.theirincomesareidentical.Noneoftheabove.TheearlieststatementoftheprincipleofcomparativeadvantageisassociatedwithDavidHume.DavidRicardo.AdamSmith.EliHeckscher.BertilOhlin.Ifonecountry'swagelevelisveryhighrelativetotheother's(therelativewageexceedingtherelativeproductivityratios),theniftheybothusethesamecurrencyneithercountryhasacomparativeadvantage.onlythelowwagecountryhasacomparativeadvantage.onlythehighwagecountryhasacomparativeadvantage.consumerswillstillfindtradeworthwhilefromtheirperspective.E. Noneoftheabove.Ifonecountry'swagelevelisveryhighrelativetotheother's(therelativewageexceedingtherelativeproductivityratios),thenitisnotpossiblethatproducersineachwillfindexportmarketsprofitable.itisnotpossiblethatconsumersinbothcountrieswillenhancetheirrespectivewelfaresthroughimports.itisnotpossiblethatbothcountrieswillfindgainsfromtrade.itispossiblethatbothwillenjoytheconventionalgainsfromtrade.Noneoftheabove.TheRicardianmodelisbasedonallofthefollowingexceptonlytwonationsandtwoproducts.B. nodiminishingreturns.laboristheonlyfactorofductqualityvariesamongnations.Noneoftheabove.Ricardo'soriginaltheoryofcomparativeadvantageseemedoflimitedreal-worldvaluebecauseitwasfoundedonthelabortheoryofvalue.B. capitaltheoryofvalue.C. landtheoryofvalue.D. entrepreneurtheoryofvalue.Noneoftheabove.AccordingtoRicardo,acountrywillhaveacomparativeadvantageintheproductinwhichitslaborproductivityisrelativelylow.laborproductivityisrelativelyhigh.labormobilityisrelativelylow.labormobilityisrelativelyhigh.Noneoftheabove.Inatwo-country,two-productworld,thestatement"GermanyenjoysacomparativeadvantageoverFranceinautosrelativetoships"isequivalenttoFrancehavingacomparativeadvantageoverGermanyinships.FrancehavingacomparativedisadvantagecomparedtoGermanyinautosandships.GermanyhavingacomparativeadvantageoverFranceinautosandships.FrancehavingnocomparativeadvantageoverGermany.Noneoftheabove.AssumethatlaboristheonlyfactorofproductionandthatwagesintheUnitedStatesequal$20perhourwhilewagesinJapanare$10perhour.ProductioncostswouldbelowerintheUnitedStatesascomparedtoJapanifU.S.laborproductivityequaled40unitsperhourandJapan's15unitsperhour.U.S.productivityequaled30unitsperhourwhereasJapan'swas20.U.S.laborproductivityequaled20andJapan's30.U.S.laborproductivityequaled15andJapan's25unitsperhour.Noneoftheabove.IftheUnitedStates’productionpossibilityfrontierwasflattertothewidgetaxis,whereasGermany'swasflattertothebutteraxis,weknowthattheUnitedStateshasnocomparativeadvantageGermanyhasacomparativeadvantageinbutter.theU.S.hasacomparativeadvantageinbutter.Notenoughinformationisgiven.Noneoftheabove.SupposetheUnitedStates'productionpossibilityfrontierwasflattertothewidgetaxis,whereasGermany'swasflattertothebutteraxis.WenowlearnthattheGermanmarkissharplydepreciatedagainsttheU.S.dollar.WenowknowthattheUnitedStateshasnocomparativeadvantageGermanyhasacomparativeadvantageinbutter.theUnitedStateshasacomparativeadvantageinbutter.Notenoughinformationisgiven.Noneoftheabove.SupposetheUnitedStates'productionpossibilityfrontierwasflattertothewidgetaxis,whereasGermany'swasflattertothebutteraxis.WenowlearnthattheGermanwagedoubles,butU.S.wagesdonotchangeatall.WenowknowthattheUnitedStateshasnocomparativeadvantage.Germanyhasacomparativeadvantageinbutter.theUnitedStateshasacomparativeadvantageinbutter.Notenoughinformationisgiven.Noneoftheabove.EssayQuestionsManycountriesinSub-SaharanAfricahaveverylowlaborproductivitiesinmanysectors,inmanufacturingandagriculture.Theyoftendespairofeventryingtoattempttobuildtheirindustriesunlessitisdoneinanautarkiccontext,behindprotectionistwallsbecausetheydonotbelievetheycancompetewithmoreproductiveindustriesabroad.DiscussthisissueinthecontextoftheRicardianmodelofcomparativeadvantage.In1975,wagelevelsinSouthKoreawereroughly5%ofthoseintheUnitedStates.ItisobviousthatiftheUnitedStateshadallowedKoreangoodstobefreelyimportedintotheUnitedStatesatthattime,thiswouldhavecauseddevastationtothestandardoflivingintheUnitedStates.,becausenoproducerinthiscountrycouldpossiblycompetewithsuchlowwages.DiscussthisassertioninthecontextoftheRicardianmodelofcomparativeadvantage.TheevidencecitedinthechapterusingtheexamplesoftheEastAsiaNewIndustrializingCountriessuggeststhatasinternationalproductivitiesconverge,sodointernationalwagelevels.WhydoyousupposethishappenedfortheEastAsianNICs?Inlightofyouranswer,whatdoyouthinkislikelytohappentotherelativewages(relativetothoseintheUnitedStates)ofChinainthecomingdecade?Explainyourreasoning.Whenweexaminethe2Good2CountryversionoftheRicardianmodelofcomparativeadvantage,wenotethatcomparativeadvantageistotallydeterminedbyphysicalproductivityratios.Changesinwageratesineithercountrycannotaffectthesephysicallydeterminedcomparativeadvantages,andhencecannotaffect,whichproductwillbeexportedbywhichcountry.However,whenmorethan2goodsareaddedtothemodel(stillwith2countries),changesinwageratesinoneortheothercountrycaninfactdeterminewhichgoodorgoodseachofthecountrieswillexport.Howcanyouexplainthisanomaly?AnexaminationoftheRicardianmodelofcomparativeadvantageyieldstheclearresultthattradeis(potentially)beneficialforeachofthetwotradingpartnerssinceitallowsforanexpandedconsumptionchoiceforeach.However,fortheworldasawholetheexpansionofproductionofoneproductmustinvolveadecreaseintheavailabilityoftheother,sothatitisnotclearthattradeisbetterfortheworldasawholeascomparedtoaninitialsituationofnon-trade(butefficientproductionineachcountry).Arethereinfactgainsfromtradefortheworldasawhole?Explain.Quantitative/GraphingProblems1. Giventhefollowinginformation:UnitLaborRequirementsClothWidgetsHome100200Foreign6030 WhatistheopportunitycostofClothintermsofWidgetsinForeign?2. Giventhefollowinginformation:UnitLaborRequirementsClothWidgetsHome100200Foreign6030IfthesetwocountriestradethesetwogoodsinthecontextoftheRicardianmodelofcomparativeadvantage,thenwhatisthelowerlimitoftheworldequilibriumpriceofwidgets?3. Giventhefollowinginformation:UnitLaborRequirementsClothWidgetsHome100200Foreign6030IfthesetwocountriestradethesetwogoodswitheachotherinaccordingtotheRicardianmodelofcomparativeadvantage,whatisthelowerlimitforthepriceofcloth?4. Giventhefollowinginformation:UnitsProducedbyOneWorker/HourClothWidgetsHome100200Foreign6030WhatistheopportunitycostofclothintermsofWwdgetsinForeign?5. Giventhefollowinginformation:UnitsProducedbyOneWorker/HourClothWidgetsHome100200Foreign6030IfthesetwocountriestradethesetwogoodswitheachotherinthefollowingtheRicardianmodelofcomparativeadvantage,thenwhatisthelowerlimitfortheworldequilibriumpriceofcloth?1.Homehas1200unitsoflaboravailable.Itcanproducetwogoods,applesandbananas.Theunitlaborrequirementinappleproductionis3,whileinbananaproductionitis2.a.GraphHome'sproductionpossibilityfrontier.b.Whatistheopportunitycostofapplesintermsofbananas?c.Intheabsenceoftrade,whatwouldthepriceofapplesintermsofbananasbe?Why?2.Homeisasdescribedinproblem1.Thereisnowalsoanothercountry,Foreign,withalaborforceof800.Foreign'sunitlaborrequirementinappleproductionis5,whileinbananaproductionitis1.a.GraphForeign'sproductionpossibilityfrontier.b.Constructtheworldrelativesupplycurve.3.Nowsupposeworldrelativedemandtakesthefollowingform:Demandforapples/demandforbananas=priceofbananas/priceofapplesa.Graphtherelativedemandcurvealongwiththerelativesupplycurve.b.Whatistheequilibriumrelativepriceofapples?c.Describethepatternoftrade.d.ShowthatbothHomeandForeigngainfromtrade.4.Supposethatinsteadof1200workers,Homehad2400.Findtheequilibriumrelativeprice.WhatcanyousayabouttheefficiencyofworldproductionandthedivisionofthegainsfromtradebetweenHomeandForeigninthiscase?5.SupposethatHomehas2400workers,buttheyareonlyhalfasproductiveinbothindustriesaswehavebeenassuming.Constructtheworldrelativesupplycurveanddeterminetheequilibriumrelativeprice.Howdothegainsfromtradecomparewiththoseinthecasedescribedinproblem4?6.“Koreanworkersearnonly$2.50anhour;ifweallowKoreatoexportasmuchasitlikestotheUnitedStates,ourworkerswillbeforceddowntothesamelevel.Youcan’timporta$5shirtwithoutimportingthe$2.50wagethatgoeswithit.〞Discuss.7.请对以下观点加以评价：〔1〕只有当一个国家的生产率到达足以在国际竞争中立足的水平时，它才能从自由贸易中获益；〔2〕如果来自外国的竞争是建立在低工资的根底上，那么这种竞争是不公平的，而且会损害其他参与竞争的国家；〔3〕如果一个国家的工人比其他国家工人的工资低，那么贸易就会使这个国家受到剥削并使福利恶化。用标准的李嘉图假设，分析如下模型：表1单位产品劳动投入奶酪葡萄酒本国aLC=10小时/磅aLW=15小时/加仑外国aLC*=4小时/磅aLW*=10小时/加仑假设本国共拥有3000万工时的劳动量，而外国共有2000万工时的劳动量。哪个国家在葡萄酒的生产上具有绝对优势？哪个国家在奶酪的生产上具有绝对优势？哪个国家在葡萄酒的生产上具有比拟优势？哪个国家在奶酪的生产上具有比拟优势？在开放贸易后，两个国家各出口何种商品？如果均衡国际价格比率是每磅奶酪1/2瓶葡萄酒，各国的生产会发生什么变化？9.实际工资的含义是每小时劳动的报酬所具有的购置力。用每种产品表示，就是指一个工人用他1小时劳动的报酬所能买到的该产品的单位数量。在李嘉图模型中，对于某工人所生产的任何产品来说，他只是根据其劳动生产率得到报酬，这就是他的以这种产品表示的实际工资。请结合以下表格答复以下问题。表2单位产品劳动投入奶酪葡萄酒本国aLC=1小时/磅aLW=2小时/加仑外国aLC*=6小时/磅aLW*=3小时/加仑在无贸易条件下，本国用各种商品表示的劳动的实际工资分别是多少？外国呢？哪个国家劳动的实际工资更高？假定在自由贸易条件下，均衡的价格比率为1，本国用奶酪表示的实际工资是多少？国际贸易后，本国用葡萄酒表示的新的实际工资是多少？这说明本国的贸易收益状况如何？外国用葡萄酒表示的实际工资是多少？国际贸易后，外国用奶酪表示的新的实际工资是多少？这说明外国的贸易收益状况如何？在自由贸易情况下，哪个国家劳动的实际工资比拟高？绝对优势的重要性表达在何处？10.我们重点讨论了只包含两个国家的例子。假定有许多国家能生产两种产品，每个国家都只有一种生产要素：劳动。在这种情况下，贸易模式和生产模式会怎样〔提示：画出世界相对供给曲线〕？11.在李嘉图模型中，如果A国在两种产品上都具有绝对优势，那么贸易后A国的名义工资水平肯定高于B国。这句话对吗？请评论。12.假设某一国家拥有20000万单位的劳动，X、Y产品的单位产出所要求的劳动投入分别为5个单位和4个单位，试确定生产可能性边界方程。如果X的国际相对价格为2，该国的进口数量为2000个单位，试确定该国的出口量，并在图中画出贸易三角形。13.如果两国各在某一商品上具有绝对优势，那么两国在相应的商品上也必然具有比拟优势，这句话对吗？请评论。Chapter5:SpecificFactorsandIncomeDistributionMultipleChoiceQuestionsInternationaltradehasstrongeffectsonincomedistributions.Therefore,internationaltradeisbeneficialtoeveryoneinbothtradingcountries.willtendtohurtonetradingcountry.willtendtohurtsomegroupsineachtradingcountry.willtendtohurteveryoneinbothcountries.willbebeneficialtoallthoseengagedininternationaltrade.Factorstendtobespecifictocertainusesandproductsincountrieslackingcomparativeadvantage.intheshortrun.incapital-intensiveindustries.inlabor-intensiveindustries.incountrieslackingfairlaborlaws.InaneconomydescribedbytheSpecificFactorsModel,theproductionpossibilityfrontierwillbelinear.concavetotheorigin.convextotheorigin.parabolicwithoneroot.collapsedtoapoint.Atthepointofproduction,theproductionpossibilityfrontierwillbetangenttotheorigin.alinewhoseslopeistherelativequalityofthetwogoods.alinewhoseslopeistherelativequantityofthetwogoods.alinewhoseslopeistherelativepriceofthetwogoods.Noneoftheabove.Ifthepriceofthecapitalintensiveproductrisesmorethandoesthepriceofthelandintensiveproduct,thendemandwillshiftawayfromthecapital-intensiveproduct,anditsproductionwilldecrease.B. demandwillshiftawayfromthecapital-intensiveproduct,anditsproductionwilldecreaserelativetothatofthelandintensiveproduct.C. theproductionofthecapital-intensiveproductwillindeeddecrease,butnotforthereasonsmentionedinAorB.thecountriesexportingthecapital-intensivegoodwillloseitscomparativeadvantage.E. Noneoftheabove.Ifthepriceofthecapitalintensiveproductrises,wageswillrisebutbylessthanthepriceofthecapital-intensiveproduct.risebymorethantheriseinthepriceofthecapital-intensiveproduct.remainproportionallyequaltothepriceofthecapital-intensiveproduct.fall,sincehigherpricescauselessdemand.Noneoftheabove.IfAustraliahasrelativelymorelandperworker,andBelgiumhasrelativelymorecapitalperworker,theniftradeweretoopenupbetweenthesetwocountries,therelativepriceofthecapital-intensiveproductwouldriseinAustralia.theworldpriceoftheland-intensiveproductwouldbehigherthanithadbeeninBelgium.theworldpriceofthelandintensiveproductwouldbehigherthanithadbeeninAustralia.therelativepriceofthelandintensiveproductwouldriseinBelgium.Noneoftheabove.IfAustraliahasmorelandperworker,andBelgiumhasmorecapitalperworker,theniftradeweretoopenupbetweenthesetwocountries,A. Australiawouldexporttheland-intensiveproduct.Belgiumwouldimportthecapital-intensiveproduct.Bothcountrieswouldexportsomeofeachproduct.tradewouldnotcontinuesinceBelgiumisasmallercountry.Noneoftheabove.IfAustraliahasmorelandperworker,andBelgiumhasmorecapitalperworker,theniftradeweretoopenupbetweenthesetwocountries,therealincomeofcapitalownersinAustraliawouldrise.therealincomeoflaborinAustraliawouldclearlyrise.therealincomeoflaborinBelgiumwouldclearlyrise.therealincomeoflandownersinBelgiumwouldfall.therealincomesofcapitalownersinbothcountrieswouldrise.Iftradeopensupbetweenthetwoformerlyautarkiccountries,AustraliaandBelgium,thentherealincomeofAustraliaandofBelgiumwillincrease.therealincomeofAustraliabutnotofBelgiumwillincrease.therealincomeofneithercountrywillincrease.therealincomeofbothcountriesmayincrease.therealincomeofbothcountrieswillincrease.Themarginalproductoflaborinmanufacturingslopesdownwardbecauseofdiseconomiestoscale.discontinuitiesintheproductionfunction.diminishingreturns.grosssubstitutionwiththefoodsector.Noneoftheabove.IntheSpecificFactorsmodel,eachofthetwosectorsemploysthesamefactorsusedbytheother.employsdifferentfactorsthanthoseemployedintheother.employsafixedcoefficientproductionfunction.sharesonefactorofproductionwiththeothersector.Noneoftheabove.TheSpecificFactorsmodelassumesimperfectionsinthelabormarket.imperfectionsinthelandmarket.imperfectionsinthecapitalmarket.imperfectionsintheentrepreneurshipmarket.Noneoftheabove.Attheproductionpointtheproductionpossibilityfrontieristangenttoalinewhoseslopeisthepriceofmanufactures.therelativewage.herealwage.therelativepriceofmanufactures.Noneoftheabove.Ifthepriceofmanufacturesandthepriceoffoodincreaseby25%,thentheeconomymovesdownitsaggregatesupplycurve.theeconomymovesbackalongitsaggregatedemandcurve.therelativequantitiesofmanufacturesandfoodremainunchanged.therelativequantitiesofproductschangeby25%.Noneoftheabove.Ifthepriceofmanufacturesrises,thenthepriceoffoodalsorises.thequantityoffoodproducedfalls.thequantityofbothmanufacturesandfoodfalls.thepurchasingpoweroflaborintermsoffoodfalls.Noneoftheabove.Inthemodeldescribedinthischapter,ifthepriceofmanufacturesrises,thentherealincomeofcapitalrises.therealincomeoflandrises.thepurchasingpoweroflandownersrises.theproductionofbothproductsfalls.Noneoftheabove.Ifthepriceoffoodrises,thentheincomeofcapitalownerswillfallbecausecapitalownersconsumeonlyfood.therealwageintermsofmanufacturesrises.theymustpayhigherwagestomaintainsubsistencelevels.foodisanelementoforganiccapitalforcapitalists.Noneoftheabove.IfadditionallandweretobebroughtintocultivationintheSpecificFactormodel,theoutputofmanufactureswouldfallbecauseoflowermarginalproductivityoflaborinthissector.lowermarginalproductivityoflaborinfoodproduction.highermarginalproductivityoflaborinmanufacturesector.lowerlaborinputinmanufacturesector.Noneoftheabove.IfJapanisrelativelycapitalrichandtheUnitedStatesisrelativelylandrich,thentradebetweenthesetwo,formerlyautarkiccountrieswillleadtoperfectspecializationwithJapanaloneproducingmanufactures.createaworldrelativepriceoffoodthatislowerthanthatofth