(英文版)保罗。克鲁格曼《国际经济学》题库5

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(英文版)保罗。克鲁格曼《国际经济学》题库5

(英文版)保罗。克鲁格曼《国际经济学》题库5

(英⽂版)保罗。

克鲁格曼《国际经济学》题库5练习题五:A E C A D C D D E D A D1.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.3. Under Purchasing Power Parity,A) 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.5. 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.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 country?s domestic currency?s real exchange rate, q, is defined asA) 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 causeA) an upward shift in the aggregate demand function and an expansion of outputB) an upward shift in the aggregate demand function and a reduction in outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intact9. In the short-run, a temporary increase in money supplyA) 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.10. 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 supplyA) 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.12. Assume the asset market is always in equilibrium. Therefore a fall in Y would result in:A) higher inflation abroad.B) a decreased demand for domestic products.C) a contraction of the money supply.D) a depreciation of the home currency.E) an appreciation of the home currency.13. What can explain the failure of relative PPP to hold in reality?Government measures of the price level differ from country to country. One reason for these differences is that people living in different countries spend their income in different ways. Because of this inherent difference among countries, certain baskets will be affected more by price changes given their consumptions basket. For example, consumers in country, X, eats more fish relative to another country. More than likely, the government, upon determining a commodity basket to reflect preference, will have an overwhelming representation of fish in their basket. Any price level change in the fish market will be felt particularly by country X, and their overall price level will reflect this. Thus, changes in the relative prices of basket components can cause relative PPP to become distorted.14. Using a figure show that under full employment, a temporary fiscal expansion would increase output (overemployment) but cannot increase output in the long run.A temporarily fiscal expansion will move the economy from DD1 to DD2, and output increases. A permanent fiscal expansion will also shift the AA curve to the left and down. The nominal exchange rate appreciates, i.e. E decreases.15. Using the DD model, explain what happens to out put when Government demands increase. Use a figure to explain when it is taking place.T he figure below shows the G1 to G2 raises output at every level of the exchange rate. The change shifts the DD to the right. Which in turns increases output to Y2.。

克鲁格曼《国际经济学》第八版课后答案(英文)-Ch05

克鲁格曼《国际经济学》第八版课后答案(英文)-Ch05

Chapter 5The Standard Trade ModelChapter OrganizationA Standard Model of a Trading EconomyProduction Possibilities and Relative SupplyRelative Prices and DemandThe Welfare Effect of Changes in the Terms of TradeDetermining Relative PricesEconomic Growth: A Shift of the RS CurveGrowth and the Production Possibility FrontierRelative Supply and the Terms of TradeInternational Effects of GrowthCase Study: Has the Growth of Newly Industrializing Countries Hurt Advanced Nations? International Transfers of Income: Shifting the RD CurveThe Transfer ProblemEffects of a Transfer on the Terms of TradePresumptions about the Terms of Trade Effects of TransfersCase Study: The Transfer Problem and the Asian CrisisTariffs and Export Subsidies: Simultaneous Shifts in RS and RDRelative Demand and Supply Effects of a TariffEffects of an Export SubsidyImplications of Terms of Trade Effects: Who Gains and Who Loses?SummaryAppendix: Representing International Equilibrium with Offer CurvesDeriving a Country’s Offer CurveInternational EquilibriumChapter 5 The Standard Trade Model 17Chapter OverviewPrevious chapters have highlighted specific sources of comparative advantage which give rise to international trade. This chapter presents a general model which admits previous models as special cases. This “standard trade model” is the workhorse of international trade theory and can be used to address a wide range of issues. Some of these issues, such as the welfare and distributional effects of economic growth, transfers between nations, and tariffs and subsidies on traded goods are considered in this chapter. The standard trade model is based upon four relationships. First, an economy will produce at the point where the production possibilities curve is tangent to the relative price line (called the isovalue line). Second, indifference curves describe the tastes of an economy, and the consumption point for that economy is found at the tangency of the budget line and the highest indifference curve. These two relationships yield the familiar general equilibrium trade diagram for a small economy (one which takes as given the terms of trade), where the consumption point and production point are the tangencies of the isovalue line with the highest indifference curve and the production possibilities frontier, respectively.You may want to work with this standard diagram to demonstrate a number of basic points. First, an autarkic economy must produce what it consumes, which determines the equilibrium price ratio; and second, opening an economy to trade shifts the price ratio line and unambiguously increases welfare. Third, an improvement in the terms of trade increases welfare in the economy. Fourth, it is straightforward to move from a small country analysis to a two country analysis by introducing a structure of world relative demand and supply curves which determine relative prices.These relationships can be used in conjunction with the Rybczynski and the Stolper-Samuelson Theorems from the previous chapter to address a range of issues. For example, you can consider whether the dramatic economic growth of countries like Japan and Korea has helped or hurt the United States as a whole, and also identify the classes of individuals within the United States who have been hurt by the particular growth biases of these countries. In teaching these points, it might be interesting and useful to relate them to current events. For example, you can lead a class discussion of the implications for the United States of the provision of forms of technical and economic assistance to the emerging economies around the world or the ways in which a world recession can lead to a fall in demand for U.S. export goods.The example provided in the text considers the popular arguments in the media that growth in Japan or Korea hurts the United States. The analysis presented in this chapter demonstrates that the bias of growth is important in determining welfare effects rather than the country in which growth occurs. The existence of biased growth, and the possibility of immiserizing growth is discussed. The Relative Supply (RS) and Relative Demand (RD) curves illustrate the effect of biased growth on the terms of trade. The new terms of trade line can be used with the general equilibrium analysis to find the welfare effects of growth. A general principle which emerges is that a country which experiences export-biased growth will have a deterioration in its terms of trade, while a country which experiences import-biased growth has an improvement in its terms of trade. A case study points out that growth in the rest of the world has made other countries more like the United States. This import-biased growth has worsened the terms of trade for the United States. The second issue addressed in the context of the standard trade model is the effect of international transfers. The salient point here is the direction, if any, in which the relative demand curve shifts in response to the redistribution of income from a transfer. A transfer worsens the donor’s ter ms of trade if it has a higher marginal propensity to consume its export good than the recipient. The presence of non-traded goods tends to reinforce the deterioration of terms of trade for the donor country. The case study attendant to this issue involves the deterioration of many Asian countries’ terms of trade due to the large capital withdrawals at the end of the 1990s.18 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth EditionThe third area to which the standard trade model is applied are the effects of tariffs and export subsidies on welfare and terms of trade. The analysis proceeds by recognizing that tariffs or subsidies shift both the relative supply and relative demand curves. A tariff on imports improves the terms of trade, expressed in external prices, while a subsidy on exports worsens terms of trade. The size of the effect depends upon the size of the country in the world. Tariffs and subsidies also impose distortionary costs upon the economy. Thus, if a country is large enough, there may be an optimum, non-zero tariff. Export subsidies, however, only impose costs upon an economy. Intranationally, tariffs aid import-competing sectors and hurt export sectors while subsidies have the opposite effect. An appendix presents offer curve diagrams and explains this mode of analysis.Answers to Textbook Problems1.Note how welfare in both countries increases as the two countries move from productionpatterns governed by domestic prices (dashed line) to production patterns governed by worldprices (straight line).2.3. An increase in the terms of trade increases welfare when the PPF is right-angled. The production pointis the corner of the PPF. The consumption point is the tangency of the relative price line and the highest indifference curve. An improvement in the terms of trade rotates the relative price line about its intercept with the PPF rectangle (since there is no substitution of immobile factors, the production point stays fixed). The economy can then reach a higher indifference curve. Intuitively, although there is no supply response, the economy receives more for the exports it supplies and pays less for the imports it purchases.Chapter 5 The Standard Trade Model 19 4. The difference from the standard diagram is that the indifference curves are right angles rather thansmooth curves. Here, a terms of trade increase enables an economy to move to a higher indifference curve. The income expansion path for this economy is a ray from the origin. A terms of tradeimprovement moves the consumption point further out along the ray.5. The terms of trade of Japan, a manufactures (M) exporter and a raw materials (R) importer, is the worldrelative price of manufactures in terms of raw materials (p M/p R). The terms of trade change can be determined by the shifts in the world relative supply and demand (manufactures relative to raw materials) curves. Note that in the following answers, world relative supply (RS) and relative demand (RD) are always M relative to R. We consider all countries to be large, such that changes affect the world relative price.a. Oil supply disruption from the Middle East decreases the supply of raw materials, which increasesthe world relative supply. The world relative supply curve shifts out, decreasing the world relative price of manufactured goods and deteriorating Japan’s terms of t rade.b. Korea’s increased automobile production increases the supply of manufactures, which increasesthe world RS. The world relative supply curve shifts out, decreasing the world relative price ofmanufactured goods and deteriorating Japan’s terms of tr ade.c. U.S. development of a substitute for fossil fuel decreases the demand for raw materials. Thisincreases world RD, and the world relative demand curve shifts out, increasing the world relative price of manufactured goods and improving Japan’s terms of trade. This occurs even if no fusion reactors are installed in Japan since world demand for raw materials falls.d. A harvest failure in Russia decreases the supply of raw materials, which increases the world RS.The world relative supply curve shifts o ut. Also, Russia’s demand for manufactures decreases,which reduces world demand so that the world relative demand curve shifts in. These forcesdecrease the world relative price of manufactured goods and deteriorate Japan’s terms of trade.e. A reduction in Japan’s tariff on raw materials will raise its internal relative price of manufactures.This price change will increase Japan’s RS and decrease Japan’s RD, which increases the worldRS and decreases the world RD (i.e., world RS shifts out and world RD shifts in). The worldrelative price of manufactures declines and Japan’s terms of trade deteriorate.6. The declining price of services relative to manufactured goods shifts the isovalue line clockwise sothat relatively fewer services and more manufactured goods are produced in the United States, thus reducing U.S. welfare.20 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth Edition7. These results acknowledge the biased growth which occurs when there is an increase in one factor ofproduction. An increase in the capital stock of either country favors production of Good X, while an increase in the labor supply favors production of Good Y. Also, recognize the Heckscher-Ohlin result that an economy will export that good which uses intensively the factor which that economy has in relative abundance. Country A exports Good X to Country B and imports Good Y from Country B.The possibility of immiserizing growth makes the welfare effects of a terms of trade improvement due to export-biased growth ambiguous. Import-biased growth unambiguously improves welfare for the growing country.a. A’s terms of trade worsen, A’s welfare may increase or, less likely, decrease, and B’s welfareincreases.b. A’s terms of trade improve, A’s welfare increases and B’s welfare decreases.c. B’s terms of trade improve, B’s welfare increases and A’s welfare decreases.d. B’s terms of trade worsen, B’s welfare may increase or, less likely, decrease, and A’s welfareincreases.8. Immiserizing growth occurs when the welfare deteriorating effects of a worsening in an economy’sterms of trade swamp the welfare improving effects of growth. For this to occur, an economy must undergo very biased growth, and the economy must be a large enough actor in the world economy such that its actions spill over to adversely alter the terms of trade to a large degree. This combination of events is unlikely to occur in practice.9. India opening should be good for the U.S. if it reduces the relative price of goods that China sends tothe U.S. and hence increases the relative price of goods that the U.S. exports. Obviously, any sector in the U.S. hurt by trade with China would be hurt again by India, but on net, the U.S. wins. Note that here we are making different assumptions about what India produces and what is tradable than we are in Question #6. Here we are assuming India exports products the U.S. currently imports and China currently exports. China will lose by having the relative price of its export good driven down by the increased production in India.10. Aid which must be spent on exports increases the demand for those export goods and raises their pricerelative to other goods. There will be a terms of trade deterioration for the recipient country. This can be viewed as a polar case of the effect of a transfer on the terms of trade. Here, the marginal propensity to consume the export good by the recipient country is 1. The donor benefits from a terms of trade improvement. As with immiserizing growth, it is theoretically possible that a transfer actuallyworsens the welfare of the recipient.11. When a country subsidizes its exports, the world relative supply and relative demand schedules shiftsuch that the terms of trade for the country worsen. A countervailing import tariff in a second country exacerbates this effect, moving the terms of trade even further against the first country. The firstcountry is worse off both because of the deterioration of the terms of trade and the distortionsintroduced by the new internal relative prices. The second country definitely gains from the firstcountry’s export su bsidy, and may gain further from its own tariff. If the second country retaliated with an export subsidy, then this would offset the initial improvement in the terms of trade; the“retaliatory” export subsidy definitely helps the first country and hurts th e second.。

国际经济学克鲁格曼课后习题答案章完整版

国际经济学克鲁格曼课后习题答案章完整版

国际经济学克鲁格曼课后习题答案章集团标准化办公室:[VV986T-J682P28-JP266L8-68PNN]第一章练习与答案1.为什么说在决定生产和消费时,相对价格比绝对价格更重要?答案提示:当生产处于生产边界线上,资源则得到了充分利用,这时,要想增加某一产品的生产,必须降低另一产品的生产,也就是说,增加某一产品的生产是有机会机本(或社会成本)的。

生产可能性边界上任何一点都表示生产效率和充分就业得以实现,但究竟选择哪一点,则还要看两个商品的相对价格,即它们在市场上的交换比率。

相对价格等于机会成本时,生产点在生产可能性边界上的位置也就确定了。

所以,在决定生产和消费时,相对价格比绝对价格更重要。

2.仿效图1—6和图1—7,试推导出Y商品的国民供给曲线和国民需求曲线。

答案提示:3.在只有两种商品的情况下,当一个商品达到均衡时,另外一个商品是否也同时达到均衡?试解释原因。

答案提示:4.如果生产可能性边界是一条直线,试确定过剩供给(或需求)曲线。

答案提示:5.如果改用Y商品的过剩供给曲线(B国)和过剩需求曲线(A国)来确定国际均衡价格,那么所得出的结果与图1—13中的结果是否一致?6.答案提示:国际均衡价格将依旧处于贸易前两国相对价格的中间某点。

7.说明贸易条件变化如何影响国际贸易利益在两国间的分配。

答案提示:一国出口产品价格的相对上升意味着此国可以用较少的出口换得较多的进口产品,有利于此国贸易利益的获得,不过,出口价格上升将不利于出口数量的增加,有损于出口国的贸易利益;与此类似,出口商品价格的下降有利于出口商品数量的增加,但是这意味着此国用较多的出口换得较少的进口产品。

对于进口国来讲,贸易条件变化对国际贸易利益的影响是相反的。

8.如果国际贸易发生在一个大国和一个小国之间,那么贸易后,国际相对价格更接近于哪一个国家在封闭下的相对价格水平?答案提示:贸易后,国际相对价格将更接近于大国在封闭下的相对价格水平。

克鲁格曼国际经济学课后答案

克鲁格曼国际经济学课后答案

克鲁格曼国际经济学课后答案【篇一:克鲁格曼《国际经济学》(国际金融)习题答案要点】lass=txt>第12章国民收入核算和国际收支1、如问题所述,gnp仅仅包括最终产品和服务的价值是为了避免重复计算的问题。

在国民收入账户中,如果进口的中间品价值从gnp中减去,出口的中间品价值加到gnp中,重复计算的问题将不会发生。

例如:美国分别销售钢材给日本的丰田公司和美国的通用汽车公司。

其中出售给通用公司的钢材,作为中间品其价值不被计算到美国的gnp中。

出售给日本丰田公司的钢材,钢材价值通过丰田公司进入日本的gnp,而最终没有进入美国的国民收入账户。

所以这部分由美国生产要素创造的中间品价值应该从日本的gnp中减去,并加入美国的gnp。

2、(1)等式12-2可以写成ca?(sp?i)?(t?g)。

美国更高的进口壁垒对私人储蓄、投资和政府赤字有比较小或没有影响。

(2)既然强制性的关税和配额对这些变量没有影响,所以贸易壁垒不能减少经常账户赤字。

不同情况对经常账户产生不同的影响。

例如,关税保护能提高被保护行业的投资,从而使经常账户恶化。

(当然,使幼稚产业有一个设备现代化机会的关税保护是合理的。

)同时,当对投资中间品实行关税保护时,由于受保护行业成本的提高可能使该行业投资下降,从而改善经常项目。

一般地,永久性和临时性的关税保护有不同的效果。

这个问题的要点是:政策影响经常账户方式需要进行一般均衡、宏观分析。

3、(1)、购买德国股票反映在美国金融项目的借方。

相应地,当美国人通过他的瑞士银行账户用支票支付时,因为他对瑞士请求权减少,故记入美国金融项目的贷方。

这是美国用一个外国资产交易另外一种外国资产的案例。

(2)、同样,购买德国股票反映在美国金融项目的借方。

当德国销售商将美国支票存入德国银行并且银行将这笔资金贷给德国进口商(此时,记入美国经常项目的贷方)或贷给个人或公司购买美国资产(此时,记入美国金融项目的贷方)。

最后,银行采取的各项行为将导致记入美国国际收支表的贷方。

克鲁格曼国际经济学答案(英文)

克鲁格曼国际经济学答案(英文)

Overview of Section IInternational Trade TheorySection I of the text is comprised of six chapters: Chapter 2 Labor Productivity and Comparative Advantage: The Ricardian Model Chapter 3 Specific Factors and Income Distribution Chapter 4 Resources and Trade: The Heckscher-Ohlin Model Chapter 5 The Standard Trade Model Chapter 6 Economies of Scale, Imperfect Competition, and International Trade Chapter 7 International Factor Movements T Section I Overview Section I of the text presents the theory of international trade. The intent of this section is to explore the motives for and implications of patterns of trade between countries. The presentation proceeds by introducing successively more general models of trade, where the generality is provided by increasing the number of factors used in production, by increasing the mobility of factors of production across sectors of the economy, by introducing more general technologies applied to production, and by examining different types of market structure. Throughout Section I, policy concerns and current issues are used to emphasize the relevance of the theory of international trade for interpreting and understanding our economy. Chapter 2 gives a brief overview of world trade. In particular, it discusses what we know about the quantities and pattern of world trade today. The chapter uses the empirical relationship known as the gravity model as a framework to describe trade. This framework describes trade as a function of the size of the economies involved and their distance. It can then be used to see where countries are trading more or less than expected. The chapter also notes the growth in world trade over the previous decades and uses the previous era of globalization (pre-WWI) as context for today’s experience. Chapter 3 introduces you to international trade theory through a framework known as the Ricardian model of trade. This model addresses the issue of why two countries would want to trade with each other. This model shows how mutually-beneficial trade arises when there are two countries, each with one factor of production which can be applied toward producing each of two goods. Key concepts are introduced, such as the production possibilities frontier, comparative advantage versus absolute advantage, gains from trade, relative prices, and relative wages across countries. 4 Krugman/Obstfeld • International Economics: Theory and Policy, Seventh Edition Chapter 4 introduces what is known as the classic Heckscher-Ohlin model of international trade. Using this framework, you can work through the effects of trade on wages, prices and output. Many important and intuitive results are derived in this chapter including: the Rybczynski Theorem, the Stolper-Samuelson Theorem, and the Factor Price Equalization Theorem. Implications of the Heckscher-Ohlin model for the pattern of trade among countries are discussed, as are the failures of empirical evidence to confirm the predictions of the theory. The chapter also introduces questions of political economy in trade. One important reason for this addition to the model is to consider the effects of trade on income distribution. This approach shows that while nations generally gain from international trade, it is quite possible that specific groups within these nations could be harmed by this trade. This discussion, and related questions about protectionism versus globalization, becomes broader and even more interesting as you work through the models and different assumptions of subsequent chapters. Chapter 5 presents a general model of international trade which admits the models of the previous chapters as special cases. This “standard trade model” is depicted graphically by a general equilibrium trade model as applied to a small open economy. Relative demand and relative supply curves are used to analyze a variety of policy issues, such as the effects of economic growth, the transfer problem, and the effects of trade tariffs and production subsidies. The appendix to the chapter develops offer curve analysis. While an extremely useful tool, the standard model of trade fails to account for some important aspects of international trade. Specifically, while the factor proportions Heckscher-Ohlin theories explain some trade flows between countries, recent research in international economics has placed an increasing emphasis on economies of scale in production and imperfect competition among firms. Chapter 6 presents models of international trade that reflect these developments. The chapter begins by reviewing the concept of monopolistic competition among firms, and then showing the gains from trade which arise in such imperfectly competitive markets. Next, internal and external economies of scale in production and comparative advantage are discussed. The chapter continues with a discussion of the importance of intra-industry trade, dumping, and external economies of production. The subject matter of this chapter is important since it shows how gains from trade arise in ways that are not suggested by the standard, more traditional models of international trade. The subject matter also is enlightening given the increased emphasis on intra-industry trade in industrialized countries. Chapter 7 focuses on international factor mobility. This departs from previous chapters which assumed that the factors of production available for production within a country could not leave a country’s borders. Reasons for and the effects of international factor mobility are discussed in the context of a one-factor (labor) production and trade model. The analysis of the international mobility of labor motivates a further discussion of international mobility of capital. The international mobility of capital takes the form of international borrowing and lending. This facilitates the discussion of inter-temporal production choices and foreign direct investment behavior. 。

保罗克鲁格曼版国际经济学国际贸易部分同步单项选择题

保罗克鲁格曼版国际经济学国际贸易部分同步单项选择题

保罗克鲁格曼版国际经济学国际贸易部分同步单项选择题本文为保罗克鲁格曼版国际经济学国际贸易部分同步单项选择题文档。

以下将按照题目进行一一列出,供读者参考。

一、基本概念题1.下列哪个选项能够最恰当地描述国际贸易?–[ ] A. 同一国家内部的商品交换–[ ] B. 不同国家的货物和服务交易–[ ] C. 不同国家之间的货币交换–[ ] D. 不同国家之间的资本流动正确答案:B2.国际贸易的主要动力是什么?–[ ] A. 原材料和资源的需求差异–[ ] B. 不同国家的比较优势–[ ] C. 政府政策的干预–[ ] D. 货币汇率的波动正确答案:B3.以下哪个选项说明了比较优势的概念?–[ ] A. 一个国家在生产某种商品时,所需的机会成本较低–[ ] B. 一个国家的货币汇率较强势–[ ] C. 一个国家具有先进的技术和设备–[ ] D. 一个国家的人均收入较高正确答案:A4.以下哪个选项最能说明国际贸易对经济福利的贡献?–[ ] A. 国内生产总值的增长–[ ] B. 减少失业率–[ ] C. 降低商品价格–[ ] D. 增加政府税收正确答案:C二、模型和理论题5.下列哪个选项是描述绝对优势理论?–[ ] A. 一个国家在所有商品生产上都比其他国家高效–[ ] B. 一个国家在某些商品生产上具有相对优势–[ ] C. 一个国家的生产成本低于其他国家–[ ] D. 一个国家在国际市场上占据主导地位正确答案:A6.以下哪个选项最能说明比较优势理论?–[ ] A. 两个国家在生产两种商品上的机会成本比较–[ ] B. 两个国家的货币汇率比较–[ ] C. 两个国家的外贸政策比较–[ ] D. 两个国家的人口规模比较正确答案:A7.哪个选项最适合描述Ricardo的比较优势理论?–[ ] A. 国际贸易理论中的一个经验定理–[ ] B. 国际贸易中不存在比较优势–[ ] C. 国际贸易中只有绝对优势–[ ] D. 国际贸易只受限于贸易壁垒正确答案:A8.下列哪种情况下,两个国家能通过贸易获得互利?–[ ] A. 两个国家的机会成本相同–[ ] B. 两个国家的物价水平相同–[ ] C. 两个国家生产各种商品的成本相同–[ ] D. 两个国家各自具有相对优势正确答案:D三、政策和实践题9.下列哪个政策措施是促进国际贸易的常规手段?–[ ] A. 关税和配额的限制–[ ] B. 货币贬值措施–[ ] C. 出口补贴政策–[ ] D. 消费者补贴政策正确答案:C10.慢速增长型发展中国家常采取哪些贸易政策?–[ ] A. 出口导向型政策–[ ] B. 进口替代型政策–[ ] C. 自由贸易政策–[ ] D. 保护主义政策正确答案:B11.世界贸易组织(WTO)的主要目标是什么?–[ ] A. 促进自由贸易–[ ] B. 限制贸易壁垒–[ ] C. 改善贸易平衡–[ ] D. 保护发展中国家正确答案:A12.下列哪个选项是并非有效的贸易争端解决机制?–[ ] A. 调解机构–[ ] B. 防卫性贸易措施–[ ] C. 争端解决机构–[ ] D. 公关机构正确答案:B以上为保罗克鲁格曼版国际经济学国际贸易部分同步单项选择题文档。

(英文版)保罗。克鲁格曼《国际经济学》题库2

(英文版)保罗。克鲁格曼《国际经济学》题库2

练习题二:Part A: Multiple Choice1. In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ inA) tastes.B) military capabilities.C) size.D) relative availabilities of factors of production.E) labor productivities.2.The slope of a countr yʹs PPF reflectsA) 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.3. According to the Heckscher-Ohlin mode l, the source of comparative advantage is a countryʹsA) 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.5. The Heckscher-Ohlin model predicts all of the following exceptA) 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.6. External economies of scale arise when the cost per unitA) 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 scaleA) 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.8. The simultaneous export and import of widgets by the United States is an example ofA) increasing returns to scale.B) imperfect competition.C) intra-industry trade.D) inter-industry trade.E) None of the above.9. Intra-industry trade can be explained in part byA) 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.10. Intra-industry trade will tend to dominate trade flows when which of the following exists?A) large differences between relative country factor availabilitiesB) small differences between relative country factor availabilitiesC) homogeneous products that cannot be differentiatedD) constant cost industriesE) None of the above.11. The larger the number of firms in a monopolistic competition situation,A) 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.12. The larger the number of firms in a monopolistic competition situation,A) 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.DADCC BACDB DDPart B:Short Questions1.ʺThe H.O. model remains useful as a way to predict the income distribution effects of trade.ʺDiscuss.Answer: T he Stolper-Samuelson theorem, one of the basic theorems arising from theHeckscher-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.T his statement is typically ʺtrue . . . but.ʺ 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 ʺcone of specializationʺ; then it may be demonstrated that internal consi stency demands that the above stated sentence is ʺtrue.ʺ 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 comparativeadvantage, 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.。

克鲁格曼《国际经济学》(国际金融部分)课后习题答案(英文版)第一章

克鲁格曼《国际经济学》(国际金融部分)课后习题答案(英文版)第一章

CHAPTER 1INTRODUCTIONChapter OrganizationWhat is International Economics About?The Gains from TradeThe Pattern of TradeProtectionismThe Balance of PaymentsExchange-Rate DeterminationInternational Policy CoordinationThe International Capital MarketInternational Economics: Trade and MoneyCHAPTER OVERVIEWThe intent of this chapter is to provide both an overview of the subject matter of international economics and to provide a guide to the organization of the text. It is relatively easy for an instructor to motivate the study of international trade and finance. The front pages of newspapers, the covers of magazines, and the lead reports of television news broadcasts herald the interdependence of the U.S. economy with the rest of the world. This interdependence may also be recognized by students through their purchases of imports of all sorts of goods, their personal observations of the effects of dislocations due to international competition, and their experience through travel abroad.The study of the theory of international economics generates an understanding of many key events that shape our domestic and international environment. In recent history, these events include the causes and consequences of the large current account deficits of the United States; the dramatic appreciation of the dollar during the first half of the 1980s followed by its rapid depreciation in the second half of the 1980s; the Latin American debt crisis of the 1980s and the Mexico crisis in late 1994; and the increased pressures for industry protection against foreign competition broadly voiced in the late 1980s and more vocally espoused in the first half of the 1990s. Most recently, the financial crisis that began in East Asia in 1997 andspread to many countries around the globe and the Economic and Monetary Union in Europe have highlighted the way in which various national economies are linked and how important it is for us to understand these connections. At the same time, protests at global economic meetings have highlighted opposition to globalization. The text material will enable students to understand the economic context in which such events occur.Chapter 1 of the text presents data demonstrating the growth in trade and increasing importance of international economics. This chapter also highlights and briefly discusses seven themes which arise throughout the book. These themes include: 1) the gains from trade;2) the pattern of trade; 3) protectionism; 4), the balance of payments; 5) exchange rate determination; 6) international policy coordination; and 7) the international capital market. Students will recognize that many of the central policy debates occurring today come under the rubric of one of these themes. Indeed, it is often a fruitful heuristic to use current events to illustrate the force of the key themes and arguments which are presented throughout the text.。

国际经济学(克鲁格曼)课后习题答案1-8章

国际经济学(克鲁格曼)课后习题答案1-8章

第一章练习与答案1 . 为什么说在决定生产和消费时,相对价格比绝对价格更重要?答案提示:当生产处于生产边界线上,资源则得到了充分利用,这时,要想增加某一产品的生产,必须降低另一产品的生产,也就是说,增加某一产品的生产是有机会机本(或社会成本)的。

生产可能性边界上任何一点都表示生产效率和充分就业得以实现,但究竟选择哪一点,则还要看两个商品的相对价格,即它们在市场上的交换比率。

相对价格等于机会成本时,生产点在生产可能性边界上的位置也就确定了。

所以,在决定生产和消费时,相对价格比绝对价格更重要。

2. 仿效图1—6和图1—乙试推导出丫商品的国民供给曲线和国民需求曲线。

答案提示:3. 在只有两种商品的情况下,当一个商品达到均衡时,另外一个商品是否也同时达到均衡?试解释原因。

答案提示:4. 如果生产可能性边界是一条直线,试确定过剩供给(或需求)曲线。

答案提示:5. 如果改用丫商品的过剩供给曲线(B国)和过剩需求曲线(A 国)来确定国际均衡价格,那么所得出的结果与图1 —13中的结果是否一致?答案提示:国际均衡价格将依旧处于贸易前两国相对价格的中间某点。

6. 说明贸易条件变化如何影响国际贸易利益在两国间的分配。

答案提示:一国出口产品价格的相对上升意味着此国可以用较少的出口换得较多的进口产品,有利于此国贸易利益的获得,不过,出口价格上升将不利于出口数量的增加,有损于出口国的贸易利益;与此类似,出口商品价格的下降有利于出口商品数量的增加,但是这意味着此国用较多的出口换得较少的进口产品。

对于进口国来讲,贸易条件变化对国际贸易利益的影响是相反的。

7. 如果国际贸易发生在一个大国和一个小国之间,那么贸易后,国际相对价格更接近于哪一个国家在封闭下的相对价格水平?答案提示:贸易后,国际相对价格将更接近于大国在封闭下的相对价格水平。

& 根据上一题的答案,你认为哪个国家在国际贸易中福利改善程度更为明显些?答案提示:小国9* .为什么说两个部门要素使用比例的不同会导致生产可能性边界曲线向外凸?答案提示:第二章答案1.根据下面两个表中的数据,确定(1)贸易前的相对价格;(2)比较优势型态。

克鲁格曼国际经济学答案

克鲁格曼国际经济学答案

CHAPTER 15PRICE LEVELS AND THE EXCHANGE RATE IN THE LONG RUNANSWERS TO TEXTBOOK PROBLEMS1. Relative PPP predicts that inflation differentials are matched by changes in theexchange rate. Under relative PPP, the franc/ruble exchange rate would fall by95 percent with inflation rates of 100 percent in Russia and 5 percent inSwitzerland.2. A real currency appreciation may result from an increase in the demand fornontraded goods relative to tradables which would cause an appreciation of the exchange rate since the increase in the demand for nontradables raises their price, raising the domestic price level and causing the currency to appreciate.In this case exporters are indeed hurt, as one can see by adapting the analysis in Chapter 3. Real currency appreciation may occur for different reasons, however, with different implications for exporters' incomes. A shift in foreign demand in favor of domestic exports will both appreciate the domestic currency in real terms and benefit exporters. Similarly, productivity growth in exports is likely to benefit exporters while causing a real currency appreciation.If we consider a ceterus paribus increase in the real exchange rate, this is typically bad for exporters as their exports are now more expensive to foreigners which may reduce foreign export demand. In general, though, we need to know why the real exchange rate changed to interpret the impact of the change.3. a. A tilt of spending towards nontraded products causes the real exchange rate toappreciate as the price of nontraded goods relative to traded goods rises (the real exchange rate can be expressed as the price of tradables to the price of nontradables).b. A shift in foreign demand towards domestic exports causes an excess demandfor the domestic country's goods which causes the relative price of these goods to rise; that is, it causes the real exchange rate of the domestic country to appreciate.4. Relative PPP implies that the pound/dollar exchange rate should be adjusted tooffset the inflation difference between the United States and Britain during the war. Thus, a central banker might compare the consumer price indices in the United States and the U.K. before and after the war. If America's price level had risen by 10 percent while that in Britain had risen by 20 percent, relative PPP would call for a pound/dollar exchange rate 10 percent higher than before the war--a 10 percent depreciation of the pound against the dollar.A comparison based only on PPP would fall short of the task at hand,however, if it ignored possible changes in productivity, productive capacity or in relative demands for goods produced in different countries in wake of the war. In general, one would expect large structural upheavals as a consequence of the war. For example, Britain's productivity might have fallendramatically as a result of converting factories to wartime uses (and as a result of bombing). This would call for a real depreciation of the pound, that is, a postwar pound/dollar exchange rate more than 10% higher than the prewar rate.5. The real effective exchange rate series for Britain shows an appreciation of thepound from 1977 to 1981, followed by a period of depreciation. Note that the appreciation is sharpest after the increase in oil prices starts in early 1979; the subsequent depreciation is steepest after oil prices soften in 1982. An increase in oil prices increases the incomes received by British oil exporters, raising their demand for goods. The supply response of labor moving into the oil sector is comparable to an increase in productivity which also causes the real exchange rate to appreciate. Of course, a fall in the price of oil has opposite effects. (Oil is not the only factor behind the behavior of the pound's real exchange rate. Instructors may wish to mention the influence of Prime Minister Margaret Thatcher's stringent monetary policies.)6. The announcement puzzle is that interest rates rise when the market learnsmoney supply growth has been higher than expected (and fall in the opposite case), in contrast to what a simple money-market equilibrium analysis might seem to suggest. Were this phenomenon due to higher expected inflation, we would expect to see the dollar depreciate against foreign currencies, since the expectation of future currency depreciation is one result of higher expected inflation. As demonstrated in the previous chapter, a depreciation of the expected future exchange rate causes the spot rate today to depreciate. If, however, nominal rates are higher because the market expects the Fed to adjust for excessive money growth by tightening, then the higher nominal interest rates reflect a decrease in money supply as banks adjust for expected lower high-powered money in the future. In this case, we would expect to see an appreciation of the currency. Thus, the foreign exchange market can help us distinguish between the two competing explanations for the phenomenon. In fact, Engel and Frankel found that in the early 1980s, the dollar tended to appreciate after unexpectedly high monetary growth was announced and depreciate in the opposite case. This implies expectations regarding Fed action are the likely cause of the increase in nominal interest rates.7. A permanent shift in the real money demand function will alter the long-runequilibrium nominal exchange rate, but not the long-run equilibrium real exchange rate. Since the real exchange rate does not change, we can use the monetary approach equation, E = (M/M*)·{L(R*,Y*)/L(R,Y)}. A permanent increase in money demand at any nominal interest rate leads to a proportional appreciation of the long-run nominal exchange rate. Intuitively, the level of prices for any level of nominal balances must be lower in the long run for money market equilibrium. The reverse holds for a permanent decrease in money demand. The real exchange rate, however, depends upon relative prices and productivity terms which are not affected by general price-level changes.8. The mechanism would work through expenditure effects with a permanenttransfer from Poland to The Czech Republic appreciating the zloty (Czech currency) in real terms against the koruna (Polish currency) if (as is reasonableto assume) the Czechs spent a higher proportion of their income on Czech goods relative to Polish goods than did the Poles.9. As discussed in the answer to question 8, the zloty appreciates against thekoruna in real terms with the transfer from Poland to The Czech Republic if the Czechs spend a higher proportion of their income on Czech goods relative to Polish goods than did the Poles. The real appreciation would lead to a nominal appreciation as well.10. Since the tariff shifts demand away from foreign exports and toward domesticgoods, there is a long-run real appreciation of the home currency. Absent changes in monetary conditions, there is a long-run nominal appreciation as well.11. The balanced expansion in domestic spending will increase the amount ofimports consumed in the country that has a tariff in place, but imports cannot rise in the country that has a quota in place. Thus, in the country with the quota, there would be an excess demand for imports if the real exchange rate appreciated by the same amount as in the country with tariffs. Therefore, the real exchange rate in the country with a quota must appreciate by less than in the country with the tariff.12. A permanent increase in the expected rate of real depreciation of the dollaragainst the euro leads to a permanent increase in the expected rate of depreciation of the nominal dollar/euro exchange rate, given the differential in expected inflation rates across the US and Europe. This increase in the expected depreciation of the dollar causes the spot rate today to depreciate. 13. Suppose there is a temporary fall in the real exchange rate in an economy, thatis the exchange rate appreciates today and then will depreciate back to its original level in the future. The expected depreciation of the real exchange rate, by real interest parity, causes the real interest rate to rise. If there is no change in the expected inflation rate then the nominal interest rate rises with the rise in the real exchange rate. This event may also cause the nominal exchange rate to appreciate if the effect of a current appreciation of the real exchange rate dominates the effect of the expected depreciation of the real exchange rate. 14. International differences in expected real interest rates reflect expected changesin real exchange rates. If the expected real interest rate in the United States is 9 percent and the expected real interest rate in Europe is 3 percent then there is an expectation that the real dollar/euro exchange rate will depreciate by 6 percent (assuming that interest parity holds).15. The initial effect of a reduction in the money supply in a model with stickyprices is an increase in the nominal interest rate and an appreciation of the nominal exchange rate. The real interest rate, which equals the nominal interest rate minus expected inflation, rises by more than the nominal interest rate since the reduction in the money supply causes the nominal interest rate to rise and deflation occurs during the transition to the new equilibrium. The real exchange rate depreciates during the transition to the new equilibrium (whereits value is the same as in the original state). This satisfies the real interest parity relationship which states that the difference between the domestic and the foreign real interest rate equals the expected depreciation of the domestic real exchange rate -- in this case, the initial effect is an increase in the real interest rate in the domestic economy coupled with an expected depreciation of the domestic real exchange rate. In any event, the real interest parity relationship must be satisfied since it is simply a restatement of the Fisher equation, which defines the real interest rate, combined with the interest parity relationship, which is a cornerstone of the sticky-price model of the determination of the exchange rate.16. One answer to this question involves the comparison of a sticky-price with aflexible-price model. In a model with sticky prices, a reduction in the money supply causes the nominal interest rate to rise and, by the interest parity relationship, the nominal exchange rate to appreciate. The real interest rate, which equals the nominal interest rate minus expected inflation, increases both because of the increase in the nominal interest rate and because there is expected deflation. In a model with perfectly flexible prices, an increase in expected inflation causes the nominal interest rate to increase (while the real interest rate remains unchanged) and the currency to depreciate since excess money supply is resolved through an increase in the price level and thus, by PPP, a depreciation of the currency.An alternative approach is to consider a model with perfectly flexible prices.As discussed in the preceding paragraph, an increase in expected inflation causes the nominal interest rate to increase and the currency to depreciate, leaving the expected real interest rate unchanged. If there is an increase in the expected real interest rate, however, this implies an expected depreciation of the real exchange rate. If this expected depreciation is due to a current, temporary appreciation, then the nominal exchange rate may appreciate if the effect of the current appreciation (which rotates the exchange rate schedule downward) dominates the effect due to the expected depreciation (which rotates the exchange rate schedule in the upwards).17. Combining the Fisher relationship with the interest parity condition we findthat expected depreciation of the dollar/Swiss franc exchange rate equals the difference between U.S. and Swiss inflation rates less the difference between U.S. and Swiss real interest rates. The question states that the ex post difference between U.S. and Swiss real interest rates was positive between 1976 and 1980. Inspecting the data presented in figure 16-1 in the text demonstrates that U.S. inflation was consistently higher than Swiss inflation over this period. We, thus, expect that this period saw a consistent expected and actual depreciation of the dollar relative to the Swiss franc. Between 1981 and 1982 this pattern reverses with very high real U.S. interest rates, and comparable U.S. and Swiss inflation rates. This corresponds to the beginning of the dramatic appreciation of the dollar in 1981. The actual data are as follows; the average Swiss franc/dollar exchange rate in 1978 was 1.79, for 1979 1.66, for 1980 1.68, for 1981 1.96 and for 1982 2.03. Thus we see an appreciation of the Swiss franc between 1978 and 1980 followed by a dramatic depreciation of the Swiss franc from 1981 to 1982.。

保罗克鲁格曼版-国际经济学の国际贸易部分同步单项选择题第5章

保罗克鲁格曼版-国际经济学の国际贸易部分同步单项选择题第5章

第五章:标准贸易模型1.“进出口交换比率”是什么意思A.一个国家出口的总量B.在国际市场上的价格条件C.一个国家出口品价格除以他的进口品的价格D.在自由贸易中进口品的总数量E.以上都不是答案:C2.一个国家在哪点能够进行最大价值量的生产A.一条于生产可能性曲线相交的等价值线上B.和生产可能性曲线相切的等价值线上C.在生产可能性曲线之外的等价值线上D.在生产可能性曲线之下的等价值线上E.和无差异曲线相切的等价值线上答案:B3.个人偏好用什么表示A.生产可能性曲线B.预算线C.无差异曲线D.生产函数E.以上都不是答案:C4.假如在国际市场上Pc/Pf增加了,那么A.所有国家境况都好转了B.布料出口的贸易条件增加了C.食物出口的贸易条件增加D.所有国家的贸易条件增加E.以上都不是答案:B5.假如Pc/Pf增加,那么A.布料出口商将提高出口布料的质量B.布料出口商将提高布料产品的质量C.食品出口商将提高出口食物的质量D.A和C都对E.以上都不是答案:B6.假如Pc/Pf提高A.世界布料相对供给和需求的数量都会增加B.世界布料的相对供给和需求的数量都会降低C.世界布料的相对供给增加D.世界布料的相对需求降低E.以上都不是答案:C7.当生产可能性曲线向一个方向往外移动,我们A.发生了偏向型扩展B.发生了非偏向型扩展C.发生了贫困化增长D.均衡结果增加E.非均衡结果增加答案:A8.出口偏向型增长的H国会A.提高H国的贸易条件B.发起反对WTO有偏见的规则的运动C.会恶化他的贸易合作国F国的贸易条件D.提高F国的贸易条件E.降低H国的经济福利答案:D9.增长A.当出口国家是贫穷的,很有可能会发生B.当出口国家是富裕的,很有可能发生C.当贸易条件改变时,会发生D.当相对供给是富有弹性的时,很有可能会发生E.以上都不是答案:E10.假如美国国际开发局把资金转到非洲沙哈拉地区的贫穷国家去,那么这会A.恶化美国的贸易条件B.改善美国的贸易条件C.恶化非洲受援国的贸易条件D.改善非洲受援国的贸易条件E.以上都不是答案:E11.假如贫穷的非洲受援国比美国有更高的边际消费倾向,那么这种帮助会A.恶化美国的贸易条件B.改善美国的贸易条件C.不会影响到世界贸易条件D.恶化援助国和受援国的贸易条件E.以上都吧不是答案:B12.假如美国对进口商品征收关税,这会使A.对贸易条件没用影响B.改善所有国家的贸易条件C.改善美国的贸易条件D.恶化美国的贸易条件E.提高美国进口商品的世界价格答案:C13.只有在下列哪种情况下,一个国家可以完全消费本国的产品A.它的世界贸易条件不同与他的国内相对成本B.这个国家专门生产一种产品C.这个国家避免国际贸易D.它的世界贸易条件等于它的国内相对成本E.以上都不是答案:A14.贸易条件是指A.进口商品B.出口的商品C.贸易总量D.贸易价格E.以上都不是答案:D15.假如a点和b点都是一个国家的生产可能性曲线上的点,那么A.消费者对这两个消费集偏好相同B.生产者对这两个产品集的偏好相同C.在任何时间,国家可以同时生产这两个产品集D.有相同的成本E.这个国家可以生产这两个产品集的任何一个答案:E16.假如经济主体在生产可能性曲线上进行生产,那么A.该国的所有工人都在专门生产一种产品B.该国所有的资金都用与该一种产品的生产C.该国实现了充分就业D.该国所有的资金都被使用了,但并没有被有效使用E.以上都不是答案:C17.假如社会无差异曲线经过生产可能性曲线上的A点,由西北方向指向东南方向,那么最优生产点是A.A点B.A点的右边C.A点的左边D.A点的东北方向E.A点的西南方向答案:B18.生产可能性曲线的东北方向的一点代表的组合A.始终无法实现的B.不进行国际贸易则始终无法实现的C.不进行国内交换则无法实现D.无法实现的一个消费束E.以上都不是答案:B19.假如两个边际收益都递减,产品边际替代率不同的国家进行贸易,那么A.他们各自的生产可能性曲线会改变B.两个国家的产品边际替代率趋向与相同C.较大的国家的贸易将占主导地位D.相对供给弹性更大的国家将出口更多的产品E.以上都不是答案:B20。

《国际经济学》克鲁格曼(第六版)习题答案

《国际经济学》克鲁格曼(第六版)习题答案

CHAPTER 2LABOR PRODUCTIVITY AND COMPARATIVE ADVANTAGE: THE RICARDIAN MODELChapter OrganizationThe Concept of Comparative AdvantageA One-Factor EconomyProduction PossibilitiesRelative Prices and SupplyTrade in a One-Factor WorldBox: Comparative Advantage in Practice: The Case of Babe RuthDetermining the Relative Price After TradeThe Gains from TradeA Numerical ExampleBox: The Losses from Non-TradeRelative WagesMisconceptions About Comparative AdvantageProductivity and CompetitivenessThe Pauper Labor ArgumentExploitationBox: Do Wages Reflect Productivity?Comparative Advantage with Many GoodsSetting Up the ModelRelative Wages and SpecializationDetermining the Relative Wage with a Multigood ModelAdding Transport Costs and Non-Traded GoodsEmpirical Evidence on the Ricardian ModelSummaryCHAPTER OVERVIEWThe Ricardian model provides an introduction to international trade theory. This most basic model of trade involves two countries, two goods, and one factor of production, labor. Differences in relative labor productivity across countries give rise to international trade. This Ricardian model, simple as it is, generates important insights concerning comparative advantage and the gains from trade. These insights are necessary foundations for the more complex models presented in later chapters.The text exposition begins with the examination of the production possibility frontier and the relative prices of goods for one country. The production possibility frontier is linear because of the assumption of constant returns to scale for labor, the sole factor of production. The opportunity cost of one good in terms of the other equals the price ratio since prices equal costs, costs equal unit labor requirements times wages, and wages are equal in each industry.After defining these concepts for a single country, a second country is introduced which has different relative unit labor requirements. General equilibrium relative supply and demand curves are developed. This analysis demonstrates that at least one country will specialize in production. The gains from trade are then demonstrated with a graph and a numerical example. The intuition of indirect production, that is "producing" a good by producing the good for which a country enjoys a comparative advantage and then trading for the other good, is an appealing concept to emphasize when presenting the gains from trade argument. Students are able to apply the Ricardian theory of comparative advantage to analyze three misconceptions about the advantages of free trade. Each of the three "myths" represents a common argument against free trade and the flaws of each can be demonstrated in the context of examples already developed in the chapter.While the initial intuitions are developed in the context of a two good model, it is straightforward to extend the model to describe trade patterns when there are N goods. This analysis can be used to explain why a small country specializes in the production of a few goods while a large country specializes in the production of many goods. The chapter ends by discussing the role that transport costs play in making some goods non-traded.The appendix presents a Ricardian model with a continuum of goods. The effect of productivity growth in a foreign country on home country welfare can be investigated withthis model. The common argument that foreign productivity advances worsen the welfare of the domestic economy is shown to be fallacious in the context of this model.ANSWERS TO TEXTBOOK PROBLEMS1. a. The production possibility curve is a straight line that intercepts the apple axis at 400(1200/3) and the banana axis at 600 (1200/2).b. The opportunity cost of apples in terms of bananas is 3/2. It takes three units of labor toharvest an apple but only two units of labor to harvest a banana. If one foregoes harvesting an apple, this frees up three units of labor. These 3 units of labor could then be used to harvest 1.5 bananas.c. Labor mobility ensures a common wage in each sector and competition ensures the priceof goods equals their cost of production. Thus, the relative price equals the relative costs, which equals the wage times the unit labor requirement for apples divided by the wage times the unit labor requirement for bananas. Since wages are equal across sectors, the price ratio equals the ratio of the unit labor requirement, which is 3 apples per 2 bananas.2. a. The production possibility curve is linear, with the intercept on the apple axis equal to160 (800/5) and the intercept on the banana axis equal to 800 (800/1).b. The world relative supply curve is constructed by determining the supply of applesrelative to the supply of bananas at each relative price. The lowest relative price at which apples are harvested is 3 apples per 2 bananas. The relative supply curve is flat at this price. The maximum number of apples supplied at the price of 3/2 is 400 supplied by Home while, at this price, Foreign harvests 800 bananas and no apples, giving a maximum relative supply at this price of 1/2. This relative supply holds for any price between 3/2 and 5. At the price of 5, both countries would harvest apples.The relative supply curve is again flat at 5. Thus, the relative supply curve is step shaped, flat at the price 3/2 from the relative supply of 0 to 1/2, vertical at the relative quantity 1/2 rising from 3/2 to 5, and then flat again from 1/2 to infinity.3. a. The relative demand curve includes the points (1/5, 5), (1/2, 2), (1,1), (2,1/2).b. The equilibrium relative price of apples is found at the intersection of the relativedemand and relative supply curves. This is the point (1/2, 2), where the relativedemand curve intersects the vertical section of the relative supply curve. Thus the equilibrium relative price is 2.c. Home produces only apples, Foreign produces only bananas, and each country tradessome of its product for the product of the other country.d. In the absence of trade, Home could gain three bananas by foregoing two apples, andForeign could gain by one apple foregoing five bananas. Trade allows each country to trade two bananas for one apple. Home could then gain four bananas by foregoing two apples while Foreign could gain one apple by foregoing only two bananas. Each country is better off with trade.4. The increase in the number of workers at Home shifts out the relative supply schedulesuch that the corner points are at (1, 3/2) and (1, 5) instead of (1/2, 3/2) and (1/2, 5).The intersection of the relative demand and relative supply curves is now in the lower horizontal section, at the point (2/3, 3/2). In this case, Foreign still gains from trade but the opportunity cost of bananas in terms of apples for Home is the same whether or not there is trade, so Home neither gains nor loses from trade.5. This answer is identical to that in 3. The amount of "effective labor" has not changedsince the doubling of the labor force is accompanied by a halving of the productivity of labor.6. This statement is just an example of the pauper labor argument discussed in the chapter.The point is that relative wage rates do not come out of thin air; they are determined by comparative productivity and the relative demand for goods. The box in the chapter provides data which shows the strong connection between wages and productivity.Korea's low wage presumably reflects the fact that Korea is less productive than the United States in most industries. As the test example illustrated, a highly productive country that trades with a less productive, low-wage country will raise, not lower, its standard of living.7. The problem with this argument is that it does not use all the information needed fordetermining comparative advantage in production: this calculation involves the four unit labor requirements (for both the industry and service sectors, not just the two for the service sector). It is not enough to compare only service's unit labor requirements.If a ls< a ls*, Home labor is more efficient than foreign labor in services. While thisdemonstrates that the United States has an absolute advantage in services, this is neithera necessary nor a sufficient condition for determining comparative advantage. For thisdetermination, the industry ratios are also required. The competitive advantage of any industry depends on both the relative productivities of the industries and the relative wages across industries.8. While Japanese workers may earn the equivalent wages of U.S. workers, the purchasingpower of their income is one-third less. This implies that although w=w* (more or less), p<p* (since 3p=p*). Since the United States is considerably more productive in services, service prices are relatively low. This benefits and enhances U.S. purchasing power.However, many of these services cannot be transported and hence, are not traded. This implies that the Japanese may not benefit from the lower U.S. services costs, and do not face an international price which is lower than their domestic price. Likewise, the price of services in United States does not increase with the opening of trade since these services are non-traded. Consequently, U.S. purchasing power is higher than that of Japan due to its lower prices on non-traded goods.9. Gains from trade still exist in the presence of nontraded goods. The gains from tradedecline as the share of nontraded goods increases. In other words, the higher the portion of goods which do not enter international marketplace, the lower the potential gains from trade. If transport costs were high enough so that no goods were traded then, obviously, there would be no gains from trade.10. The world relative supply curve in this case consists of a step function, with as many"steps" (horizontal portions) as there are countries with different unit labor requirement ratios. Any countries to the left of the intersection of the relative demand and relative supply curves export the good in which they have a comparative advantage relative to any country to the right of the intersection. If the intersection occurs in a horizontal portion then the country with that price ratio produces both goods.FURTHER READINGDonald Davis. “Intraindustry Trade: A Heckscher-Ohlin-Ricardo Approach” (working paper, Harvard University).Rudiger Dornbusch, Stanley Fischer, and Paul Samuelson. "Comparative Advantage, Trade and Payments in a Ricardian Model with a Continuum of Goods." American Economic Review 67 (December 1977) pp.823-839.Giovanni Dosi, Keith Pavitt, and Luc Soete. The Economics of Technical Change and International Trade. Brighton: Wheatsheaf, 1988.G.D.A. MacDougall. "British and American Exports: A Study Suggested by the Theory of Comparative Costs." Economic Journal 61 (September 1952) pp.487-521.John Stuart Mill. Principles of Political Economy. London: Longmans Green, 1917.David Ricardo. The Principles of Political Economy and Taxation. Homewood Illinois: Irwin, 1963.。

国际经济学题库(克鲁格曼版)

国际经济学题库(克鲁格曼版)

《国际贸易》习题库——克鲁格曼版一、名词解释1、绝对优势2、比较优势3、机会成本4、贸易条件5、要素禀赋6、劳动密集型产品7、资本密集型产品8、技术密集型产品9、规模经济 10、产业内贸易 11、代表性需求12、边际物质产品与边际价值产品13、专门生产要素与共同生产要素14产品生命周期理论15、外汇 16、汇率 17、汇率制度 18、即期外汇业务19、远期外汇业务 20、套利业务 21、一价定律22、国际收支 23、马歇尔一勒纳条件 24、货币贬值的J型曲线效应二、判断以下各题的对错,并说明理由。

1、当开放贸易时,所有消费者的境况都会得到改善。

2、根据简单贸易模型,在贸易发生之前,如果各国的某种商品价格相同,这些国家之间就不会有交换该种商品的动机。

·3、如果一国中某生产者通过贸易能使自己的境况得到改善,那么,该国中所有的生产者都会通过贸易来改善自己的境况。

4、在两国间均衡贸易价格条件下,一国对某种商品的过度供给必然与另一国对该商品的过度需求相等。

5、不存在free lunch,但却存在free trade。

6、一国即便在某种商品的生产上具有绝对劣势,它也可以在该商品的生产上具有相对优势。

7、根据H—O理论,一国如果比他国拥有更多英亩的土地,该国便是“土地丰富”的国家。

8、在成本递增的条件下,各国并不一定要完全专业化于一种商品的生产。

9、H—O理论假设各国拥有相同的商品偏好。

10、我们或许可以通过更为细分化的生产要素定义而解决Leontief Paradox。

11、Stolper-Samuelson定理认为,贸易将使丰富要素的所有者得到更低的实际收入,同时使稀缺要素的所有者得到更高的实际收入。

12、如果各国的生产技术相同,贸易便不会使生产要素价格均等化。

13、一国的非技术性工人会比技术性工人更加反对贸易自由化。

14、“大”国可投资发展进口替代产业而不是出口产业,进而改善本国的贸易条件。

15、按照定义,小国的经济增长将不会使贸易条件发生变化。

国际经济学题库(克鲁格曼版)

国际经济学题库(克鲁格曼版)

《国际贸易》习题库——克鲁格曼版一、名词解释1、绝对优势2、比较优势3、机会成本4、贸易条件5、要素禀赋6、劳动密集型产品7、资本密集型产品8、技术密集型产品9、规模经济 10、产业内贸易 11、代表性需求12、边际物质产品与边际价值产品13、专门生产要素与共同生产要素14产品生命周期理论15、外汇 16、汇率 17、汇率制度 18、即期外汇业务19、远期外汇业务 20、套利业务 21、一价定律22、国际收支 23、马歇尔一勒纳条件 24、货币贬值的J型曲线效应二、判断以下各题的对错,并说明理由。

1、当开放贸易时,所有消费者的境况都会得到改善。

2、根据简单贸易模型,在贸易发生之前,如果各国的某种商品价格相同,这些国家之间就不会有交换该种商品的动机。

·3、如果一国中某生产者通过贸易能使自己的境况得到改善,那么,该国中所有的生产者都会通过贸易来改善自己的境况。

4、在两国间均衡贸易价格条件下,一国对某种商品的过度供给必然与另一国对该商品的过度需求相等。

5、不存在free lunch,但却存在free trade。

6、一国即便在某种商品的生产上具有绝对劣势,它也可以在该商品的生产上具有相对优势。

7、根据H—O理论,一国如果比他国拥有更多英亩的土地,该国便是“土地丰富”的国家。

8、在成本递增的条件下,各国并不一定要完全专业化于一种商品的生产。

9、H—O理论假设各国拥有相同的商品偏好。

10、我们或许可以通过更为细分化的生产要素定义而解决Leontief Paradox。

11、Stolper-Samuelson定理认为,贸易将使丰富要素的所有者得到更低的实际收入,同时使稀缺要素的所有者得到更高的实际收入。

12、如果各国的生产技术相同,贸易便不会使生产要素价格均等化。

13、一国的非技术性工人会比技术性工人更加反对贸易自由化。

14、“大”国可投资发展进口替代产业而不是出口产业,进而改善本国的贸易条件。

15、按照定义,小国的经济增长将不会使贸易条件发生变化。

国际经济学题库克鲁格曼版

国际经济学题库克鲁格曼版
国际经济学有助于制定国际经济政策,推动国际贸易和投资的发展,促进全球经 济的繁荣和稳定。
国际经济学对于跨国企业和金融机构来说也是必不可少的,它可以帮助企业进行 国际市场分析和战略规划,提高竞争力。
国际经济学还可以帮助政府制定对外经济政策,处理国际经济争端,维护国家利 益和经济安全。
PART THREE
汇率制度:各国实行的汇率安 排,包括固定汇率制度和浮动 汇率制度
外汇政策:国家通过各种手段 干预外汇市场,以影响汇率水 平,实现其政策目标
外汇干预:中央银行直接干预 外汇市场,以影响汇率水平
国际合作:各国在外汇政策上 需要加强国际合作,共同维护
汇率稳定
国际经济一体化是 指不同国家之间在 经济上形成的一体 化趋势,通过贸易、 投资、货币等方面 的合作,实现资源 优化配置和经济发 展。
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理论内容:如果一个国家对另一个国 家的出口供给量增加,那么另一个国 家对该国的进口需求量也会相应增加。
理论意义:相互需求原理是国际经 济学的基本理论之一,对于理解国 际贸易的机制和影响具有重要意义。
贸易条件定义:指一国出口商品价格与进 口商品价格之间的比率。
ቤተ መጻሕፍቲ ባይዱ
贸易利益概念:指通过国际贸易交换,各 国能够获得本国不能生产或者生产成本太 高的商品和服务。
定义:一个国家在生产某一产品时,劳动生产率高于其他国家,拥有绝对优势。 提出者:亚当·斯密 核心思想:国际贸易的基础在于各国生产成本上的绝对差异。 意义:解释了为什么国家间应该进行贸易,并通过专业化生产来提高生产效率和福利水平。
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定义:比较优势理论是由大 卫·李嘉图提出的,它认为在 国际贸易中,一个国家应该 专注于生产那些成本相对较 低、效率相对较高的产品, 而从其他国家进口那些成本

(英文版)保罗。克鲁格曼《国际经济学》题库3

(英文版)保罗。克鲁格曼《国际经济学》题库3

练习题三Part A Multiple ChoiceB E D D A D A A AC C A BD D1) International borrowing and lending may be interpreted as one form ofA) intermediate trade.B) inter-temporal trade.C) trade in services.D) unrequited international transfers.E) None of the above.2) International free labor mobility will under all circumstancesA) 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 landlo rds (or capital owners) everywhere.E) None of the above.3) International labor mobilityA) 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 willA) 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.5) A country that has a comparative advantage in future production of consumption goodsA) 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.6) Why a good is produced in two different countries is known as the question ofA) internalization.B) vertical integration.C) exploitation.E) None of the above.7) Direct foreign investment may take any of the following forms exceptA) 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.8) Multinational corporationsA) 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.9) The shift of labor-intensive assembly operations from the United States to Mexican maqiladora may be best explained in terms of a theory ofA) location.B) vertical integration.C) horizontal integration.D) internalization.E) None of the above.10) A lower tariff on imported steel would most likely benefitA) 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.11) In the country levying the tariff, the tariff willA) 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.12) 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 willA) increase.C) remain the same.D) depend on whether computers are PCs or ʺSupercomputers.ʺE) None of the above.13) If a small country imposes a tariff, thenA) 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.14) The effective rate of protection measuresA) 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 Question1.It has been argued that even if intra-European Union labor mobility were to be completelyremoved, 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 distortionlosses. 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 itsassociated 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.。

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练习题五:A E C A D C D D E D A D1.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.3. Under Purchasing Power Parity,A) 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.5. 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.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 asA) 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 causeA) an upward shift in the aggregate demand function and an expansion of outputB) an upward shift in the aggregate demand function and a reduction in outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intact9. In the short-run, a temporary increase in money supplyA) 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.10. 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 supplyA) 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.12. Assume the asset market is always in equilibrium. Therefore a fall in Y would result in:A) higher inflation abroad.B) a decreased demand for domestic products.C) a contraction of the money supply.D) a depreciation of the home currency.E) an appreciation of the home currency.13. What can explain the failure of relative PPP to hold in reality?Government measures of the price level differ from country to country. One reason for these differences is that people living in different countries spend their income in different ways. Because of this inherent difference among countries, certain baskets will be affected more by price changes given their consumptions basket. For example, consumers in country, X, eats more fish relative to another country. More than likely, the government, upon determining a commodity basket to reflect preference, will have an overwhelming representation of fish in their basket. Any price level change in the fish market will be felt particularly by country X, and their overall price level will reflect this. Thus, changes in the relative prices of basket components can cause relative PPP to become distorted.14. Using a figure show that under full employment, a temporary fiscal expansion would increase output (overemployment) but cannot increase output in the long run.A temporarily fiscal expansion will move the economy from DD1 to DD2, and output increases. A permanent fiscal expansion will also shift the AA curve to the left and down. The nominal exchange rate appreciates, i.e. E decreases.15. Using the DD model, explain what happens to out put when Government demands increase. Use a figure to explain when it is taking place.T he figure below shows the G1 to G2 raises output at every level of the exchange rate. The change shifts the DD to the right. Which in turns increases output to Y2.。

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