国际经济学英文版选择题

/练习题二：

Part

A:

Multiple

Choice

DADCC

BACDB

DD

In

the

2-factor,

2

good

Heckscher-Ohlin

model,

the

two

countries

differ

in

A)

tastes.

B)

military

capabilities.

C)

size.

D)

relative

availabilities

of

factors

of

production.

E)

labor

productivities.

2.The

slope

of

a

countryʹs

PPF

reflects

A)

the

opportunity

cost

of

product

S

in

terms

of

product

T.

B)

the

opportunity

cost

of

T

in

terms

of

money

prices.

C)

the

opportunity

cost

of

S

or

T

in

terms

of

S.

D)

Both

A

and

B.

E)

Both

A

and

C.

According

to

the

Heckscher-Ohlin

model,

the

source

of

comparative

advantage

is

a

countryʹs

Technology.

B)

advertising.C)

human

capital.

D)

factor

endowments.

E)

Both

A

and

B.

4.

If

Australia

has

relatively

more

land

per

worker,

and

Belgium

has

relatively

more

capital

per

worker,

then

if

trade

were

to

open

up

between

these

two

countries,

A)

the

relative

price

of

the

capital-intensive

product

would

rise

in

Australia.

B)

the

world

price

of

the

land-intensive

product

would

be

higher

than

it

had

been

in

Belgium.

C)

the

world

price

of

the

land

intensive

product

would

be

higher

than

it

had

been

in

Australia.

D)

the

relative

price

of

the

land

intensive

product

would

rise

in

Belgium.

E)

None

of

the

above.

The

Heckscher-Ohlin

model

predicts

all

of

the

following

except

A)

which

country

will

export

which

product.

B)

which

factor

of

production

within

each

country

will

gain

from

trade.

C)

the

volume

of

trade.

D)

that

wages

will

tend

to

become

equal

in

both

trading

countries.

E)

None

of

the

above.

External

economies

of

scale

arise

when

the

cost

per

unit

A)

rises

as

the

industry

grows

larger.

B)

falls

as

the

industry

grows

larger

rises

as

the

average

firm

grows

larger.

C)

falls

as

the

average

firm

grows

larger.

D)

remains

constant.

E)

None

of

the

above.

7.

External

economies

of

scale

A)

may

be

associated

with

a

perfectly

competitive

industry.

B)

cannot

be

associated

with

a

perfectly

competitive

industry.

C)

tends

to

result

in

one

huge

monopoly.

D)

tends

to

result

in

large

profits

for

each

firm.

E)

None

of

the

above.

The

simultaneous

export

and

import

of

widgets

by

the

United

States

is

an

example

of

increasing

returns

to

scale.

B)

imperfect

competition.

C)

intra-industry

trade.

D)

inter-industry

trade.

E)

None

of

the

above.

Intra-industry

trade

can

be

explained

in

part

by

transportation

costs

within

and

between

countries.

B)

problems

of

data

aggregation

and

categorization.

C)

increasing

returns

to

scale.

D)

All

of

the

above.

E)

None

of

the

above.

Intra-industry

trade

will

tend

to

dominate

trade

flows

when

which

of

the

following

exists?

A)

large

differences

between

relative

country

factor

availabilities

B)

small

differences

between

relative

country

factor

availabilities

C)

homogeneous

products

that

cannot

be

differentiatedD)

constant

cost

industries

E)

None

of

the

above.

The

larger

the

number

of

firms

in

a

monopolistic

competition

situation,

the

larger

are

that

countryʹs

exports.

B)

the

higher

is

the

price

charged.

C)

the

fewer

varieties

are

sold.

D)

the

lower

is

the

price

charged.

E)

None

of

the

above.

The

larger

the

number

of

firms

in

a

monopolistic

competition

situation,

the

larger

are

that

countryʹs

exports.

B)

the

higher

is

the

price

charged.

C)

the

fewer

varieties

are

sold.

D)

the

lower

is

the

price

charged.

E)

None

of

the

above.

Part

B：

Short

Questions

1.

ʹThe

H.O.

model

remains

useful

as

a

way

to

predict

the

income

distribution

effects

of

trade.ʹ

Discuss.

Answer:

T

he

Stolper-Samuelson

theorem,

one

of

the

basic

theorems

arising

from

the

Heckscher-Ohlin

model

yields

an

elegant

demonstration

of

the

fact

that

changes

in

product

prices

(such

as

will

occur

when

trade

is

expanded

or

curtailed)

telescopes

its

effects

onto

factor

prices,

so

that

not

only

do

relative

factor

returns

mirror

product

prices,

but

that

actual

returns

to

factors

may

either

rise

or

fall

in

real

terms.

Hence,

as

a

policy

framework,

the

disproportionate

effect

trade

may

have

on

real

incomes

of

sectors,

such

as

skilled-labor

is

quite

useful

both

theoretically

and

practically

(or

polemically)

2.

International

trade

leads

to

complete

equalization

of

factor

prices.

Discuss.

Thisstatement

is

typically

ʹtrue

.

.

.

but.ʹ

Under

a

strict

and

limited

set

of

assumptions,

such

as

the

original

Heckscher-Ohlin

model

which

excludes

country

specific

technologies;

non-

homothetic

tastes;

factor

intensity

reversals;

large

country

differences

in

(relative)

factor

abundances,

more

factors

than

goods,

and

an

equilibrium

solution

within

the

ʹcone

of

specializationʹ;

then

it

may

be

demonstrated

that

internal

consistency

demands

that

the

above

stated

sentence

is

ʹtrue.ʹ

However,

the

minute

one

relaxes

any

of

the

above

listed

assumptions

one

may

easily

identify

solutions,

which

contradict

the

factor

price

equalization

theorem.

3.

If

a

scale

economy

is

the

dominant

technological

factor

defining

or

establishing

comparative

advantage,

then

the

underlying

facts

explaining

why

a

particular

country

dominates

world

markets

in

some

product

may

be

pure

chance,

or

historical

accident.

Explain,

and

compare

this

with

the

answer

you

would

give

for

the

Heckscher-Ohlin

model

of

comparative

advantage.

T

his

statement

is

true,

since

the

reason

the

seller

is

a

monopolist

may

be

that

it

happened

to

have

been

the

first

to

produce

this

product

in

this

country.

It

may

have

no

connection

to

any

supply

or

demand

related

factors;

nor

to

any

natural

or

man-made

availability.

This

is

all

exactly

the

opposite

of

the

Heckscher-Ohlin

Neo-Classical

modelʹs

explanation

of

the

determinants

of

comparative

advantage.练习题三

Part

A

Multiple

Choice

B

E

D

D

A

D

A

A

A

C

C

A

B

D

D

International

borrowing

and

lending

may

be

interpreted

as

one

form

of

A)

intermediate

trade.

B)

inter-temporal

trade.

C)

trade

in

services.

D)

unrequited

international

transfers.

E)

None

of

the

above.

International

free

labor

mobility

will

under

all

circumstances

A)

increase

total

world

output.

B)

improve

the

economic

welfare

of

everyone.

C)

improve

the

economic

welfare

of

workers

everywhere.

D)

improve

the

economic

welfare

of

landlords

(or

capital

owners)

everywhere.

E)

None

of

the

above.

3)

International

labor

mobility

A)

leads

to

wage

convergence

by

raising

wages

in

destination

country

and

lowering

in

source

country.

B)

is

in

accordance

with

the

specific

factors

model.

C)

is

in

accordance

with

the

Heckscher-Ohlin

factor

proportions

model.

D)

leads

to

wage

convergence

by

raising

wages

in

source

and

lowering

them

in

destination

country.

E)

is

in

accordance

with

scale

economy

model.

4)

If

initially

wages

are

higher

in

Home

than

in

Foreign,

then

a

movement

of

workers

from

Foreign

to

Home

will

A)

lower

the

marginal

product

of

labor

in

Foreign.

B)

raise

total

product

in

Foreign.

C)

raise

the

income

of

land

owners

in

Foreign.

D)

raise

the

income

of

land

owners

in

Home.

E)

None

of

the

above.

A

country

that

has

a

comparative

advantage

in

future

production

of

consumption

goods

A)

will

tend

to

be

an

international

borrower.

B)

will

tend

to

have

low

real

interest

rates.

C)

will

tend

to

be

an

international

investor

or

lender.

D)

will

tend

to

have

good

work

ethics.

E)

None

of

the

above.

Why

a

good

is

produced

in

two

different

countries

is

known

as

the

question

of

A)

internalization.

B)

vertical

integration.

C)

exploitation.

D)

location.

E)

None

of

the

above.

Direct

foreign

investment

may

take

any

of

the

following

forms

except

investors

buying

bonds

of

an

existing

firm

overseas.

B)

the

creation

of

a

wholly

owned

business

overseas.

C)

the

takeover

of

an

existing

company

overseas.

D)

the

construction

of

a

manufacturing

plant

overseas.

E)

None

of

the

above.

Multinational

corporations

A)

increase

the

transfer

of

technology

between

nations.

B)

make

it

harder

for

nations

to

foster

activities

of

comparative

advantage.

C)

always

enjoy

political

harmony

in

host

countries

in

which

their

subsidiaries

operate.

D)

require

governmental

subsidies

in

order

to

conduct

worldwide

operations.

E)

None

of

the

above.

The

shift

of

labor-intensive

assembly

operations

from

the

United

States

to

Mexican

maqiladora

may

be

best

explained

in

terms

of

a

theory

of

A)

location.

B)

vertical

integration.

C)

horizontal

integration.

D)

internalization.

E)

None

of

the

above.

A

lower

tariff

on

imported

steel

would

most

likely

benefit

foreign

producers

at

the

expense

of

domestic

consumers.

B)

domestic

manufacturers

of

steel.C)

domestic

consumers

of

steel.

D)

workers

in

the

steel

industry.

E)

None

of

the

above.

In

the

country

levying

the

tariff,

the

tariff

will

increase

both

consumer

and

producer

surplus.

B)

decrease

both

the

consumer

and

producer

surplus.

C)

decrease

consumer

surplus

and

increase

producer

surplus.

D)

increase

consumer

surplus

and

decrease

producer

surplus.

E)

None

of

the

above.

If

the

tariff

on

computers

is

not

changed,

but

domestic

computer

producers

shift

from

domestically

produced

semiconductors

to

imported

components,

then

the

effective

rate

of

protection

in

the

computer

industry

will

A)

increase.

B)

decreaseC)

remain

the

same.

D)depend

on

whether

computers

are

PCs

or

ʺSupercomputers.ʺE)

None

of

the

above.

If

a

small

country

imposes

a

tariff,

then

A）

the

producers

must

suffer

a

loss.

B)

the

consumers

must

suffer

a

loss.

C)

the

government

revenue

must

suffer

a

loss.

D)

the

demand

curve

must

shift

to

the

left.

E)

None

of

the

above.

The

effective

rate

of

protection

measures

the

ʺtrueʺ

ad

valorum

value

of

a

tariff.

B)

the

quota

equivalent

value

of

a

tariff.

C)

the

efficiency

with

which

the

tariff

is

collected

at

the

customhouse.

D)

the

protection

given

by

the

tariff

to

domestic

value

added.

E)

None

of

the

above.

15)

As

globalization

tends

to

increase

the

proportion

of

imported

inputs

relative

to

domestically

supplied

components,

A)

the

nominal

tariff

automatically

increases.

B)

the

rate

of

(effective)

protection

automatically

decreases.

C)

the

nominal

tariff

automatically

decreases.

D)

the

rate

of

(effective)

protection

automatically

increases.

E)

None

of

the

above.

PART

B

Short

Question

1.

It

has

been

argued

that

even

if

intra-European

Union

labor

mobility

were

to

be

completely

removed,

one

should

not

expect

to

observe

massive,

or

even

large

reallocations

of

populations

with

the

E.U.

Discuss.

T

heoretically,

just

as

completely

free

trade

consistent

with

Heckscher-Ohlin

model

(with

no

complete

specialization)

is

associated

with

factor

price

equalization;

so

does

completely

free

labor

mobility.

It

therefore

follows

that

if

intra

E.U.

trade

flourishes,

as

any

restraints

on

trade

there

are

abolished,

the

economic

incentive

for

labor

mobility

will

be

removed.

Since

language

and

cultural

differences

remain,

we

would

expect

populations

to

tend

to

stay

where

they

are.

2.

The

two

deadweight

triangles

are

the

Consumption

distortion

and

Production

distortion

losses.

It

is

easy

to

understand

why

the

Consumption

distortion

constitutes

a

loss

for

society.

After

all

it

raises

the

prices

of

goods

to

consumers,

and

even

causes

some

consumers

to

drop

out

of

the

market

altogether.

It

seems

paradoxical

that

the

Production

distortion

is

considered

an

equivalent

burden

on

society.

After

all,

in

this

case,

profits

increase,

and

additional

production

(with

its

associated

employment)

comes

on

line.

This

would

seem

to

be

an

offset

rather

than

an

addition

to

the

burden

or

loss

borne

by

society.

Explain

why

the

Production

distortion

is

indeed

a

loss

to

society,

and

what

is

wrong

with

the

logic

that

leads

to

the

apparent

paradox.

T

he

Production

Distortion

represents

an

inefficient

shift

of

societyʺs

resources

to

produce

a

good,

which

it

could

not

sell

profitably

at

world

prices.

Since

(with

full

employment

assumed)

these

resources

were

formerly

used

to

produce

export

goods,

which

could

compete

profitably,

the

net

result

is

a

loss

in

real

income

to

the

country.练习题五：A

E

C

A

D

C

D

D

E

D

A

D

1．Which

of

the

following

statements

is

the

most

accurate?

The

law

of

one

price

states:

A)

in

competitive

markets

free

of

transportation

costs

and

official

barrier

to

trade,

identical

goods

sold

in

different

countries

must

sell

for

the

same

price

when

their

prices

are

expressed

in

terms

of

the

same

currency.

B)

in

competitive

markets

free

of

transportation

costs

and

official

barrier

to

trade,

identical

goods

sold

in

the

same

country

must

sell

for

the

same

price

when

their

prices

are

expressed

in

terms

of

the

same

currency.

C)

in

competitive

markets

free

of

transportation

costs

and

official

barrier

to

trade,

identical

goods

sold

in

different

countries

must

sell

for

the

same

price.

D)

identical

goods

sold

in

different

countries

must

sell

for

the

same

price

when

their

prices

are

expressed

in

terms

of

the

same

currency.

E)

None

of

the

above.

2.

In

order

for

the

condition

E$/HK$

=

Pus/PHK

to

hold,

what

assumptions

does

the

principle

of

purchasing

power

parity

make?

A)

No

transportation

costs

and

restrictions

on

trade;

commodity

baskets

that

are

a

reliable

indication

of

price

level.

B)

Markets

are

perfectly

competitive,

i.e.,

P

=

MC.

C)

The

factors

of

production

are

identical

between

countries.

D)

No

arbitrage

exists.

E)

A

and

B.

Under

Purchasing

Power

Parity,

E$/E

=

PiUS/PiE.

B)

E$/E

=

PiE/PiUS.

C)

E$/E

=

PUS/PE.

D)

E$/E

=

PE/PES.

E)

None

of

the

above.

4.

In

the

short

run,

A)

the

interest

rate

can

rise

when

the

domestic

money

supply

falls.

B)

the

interest

rate

can

decrease

when

the

domestic

money

supply

falls.

C)

the

interest

rate

stays

constant

when

the

domestic

money

supply

falls.

D)

the

interest

rate

rises

in

the

same

proportion

as

the

domestic

money

supply

falls.

E)

None

of

the

above.

The

PPP

theory

fails

in

reality

because

A)

transport

costs

and

restrictions

on

trade.

B)

monopolistic

or

oligopolistic

practices

in

goods

markets.

C)

the

inflation

data

reported

in

different

countries

are

based

on

different

commodity

baskets.

D)

A,

B,

and

C.

E)

A

and

B

only.

6.

The

PPP

theory

fails

in

reality

becauseA)

transport

costs

and

restrictions

on

trade.

B)

monopolistic

or

oligopolistic

practices

in

goods

markets.

C)

the

inflation

data

reported

in

different

countries

are

based

on

different

commodity

baskets.

D)

A,

B,

and

C.

E)

A

and

B

only.

7.

A

countryʹs

domestic

currencyʹs

real

exchange

rate,

q,

is

defined

as

A)

E.

B)

E

times

P.

C)

E

times

P.

D)

(E

times

P)/P.

E)

P/(E

times

P).

8.

In

the

short-run,

any

fall

in

EP/P,

regardless

of

its

causes,

will

cause

A)

an

upward

shift

in

the

aggregate

demand

function

and

an

expansion

of

output

B)

an

upward

shift

in

the

aggregate

demand

function

and

a

reduction

in

output

C)

a

downward

shift

in

the

aggregate

demand

function

and

an

expansion

of

output

D)

an

downward

shift

in

the

aggregate

demand

function

and

a

reduction

in

output

E)

an

upward

shift

in

the

aggregate

demand

function

but

leaves

output

intact

9.

In

the

short-run,

a

temporary

increase

in

money

supply

A)

shifts

the

DD

curve

to

the

right,

increases

output

and

appreciates

the

currency.

B)

shifts

the

AA

curve

to

the

left,

increases

output

and

depreciates

the

currency.

C)

shifts

the

AA

curve

to

the

left,

decreases

output

and

depreciates

the

currency.

D)

shifts

the

AA

curve

to

the

left,

increases

output

and

appreciates

the

currency.

E)

shifts

the

AA

curve

to

the

right,

increases

output

and

depreciates

the

currency.

Temporary

tax

cuts

would

cause:

A)

the

AA-curve

to

shift

left.

B)

the

AA-curve

to

shift

right.

C)

the

DD-curve

to

shift

left.

D)

the

DD-curve

to

shift

right.

E)

a

shift

in

the

AA-curve,

although

the

direction

is

ambiguous.

11.

In

the

short-run,

a

temporary

increase

in

the

money

supply

A)

shifts

the

AA

curve

to

the

right,

increases

output

and

depreciates

the

currency.

B)

shifts

the

AA

curve

to

the

left,

increases

output

and

depreciates

the

currency.

C)

shifts

the

AA

curve

to

the

left,

decreases

output

and

depreciates

the

currency.

D)

shifts

the

AA

curve

to

the

left,

increases

output

and

appreciates

the

currency.

E)

shifts

the

AA

curve

to

the

right,

increases

output

and

appreciates

the

currency.

Assume

the

asset

market

is

always

in

equilibrium.

Therefore

a

fall

in

Y

would

result

in:

A)

higher

inflation

abroad.

B)

a

dec