国际经济学作业答案
国际经济学习题答案(国际金融)共18页word资料
国际经济学习题答案(国际金融)共18页word资料国际经济学习题答案国际金融部分1.不同意,至少从一般意义上来讲是如此。
经常项目盈余的含义之一是,国家的商品与服务出口大于进口。
人们可能会认为这是不好的——国家正在为出口而生产商品和提供服务,与此同时,国家却没有得到使其能够进行更多消费和国内投资的进口商品和服务。
从这一角度讲,拥有经常项目赤字却会是一件好事情——更多的进口可以使国家的国内消费和投资量超过其当前生产量。
经常项目盈余的另一个含义是,国家在进行外国金融投资——它正在建立对外国人的债权,这会增加国家的财富。
这听起来很好,但正如前面所指出的,它是以放弃当前国内消费为代价的。
经常项目赤字意味着国家对外国人债权的减少或对外国人债务的增加。
这听起来很不好,但它意味着更高水平的当前国内支出这一福利。
不同的国家在不同的时期,对这些代价和收益会有不同的重视程度。
因此,我们不能简单地认为经常项目盈余是否优于经常项目赤字。
2.交易c会导致经常项目的盈余,因为这是商品出口,该出口得到的支(交易a不会使经常项目账户发生变动,付体现于资本账户的某个项目。
因为它既是出口又是进口。
交易b导致经常项目的赤字,因为它属于进口。
交易d也会导致经常项目的赤字,因为它属于单方转移形式的流出。
交易e不对经常项目账户中的任何项目发生影响。
)3. a.商品贸易余额:330-198=132(美元)商品和服务余额:330-198+196-204=124(美元)经常项目余额:330-198+196-204+3-8=119(美元)官方结算余额:330-198+196-204+3-8+102-202+4=23(美元)b.官方储备资产变化(净值)=-官方结算余额=-23(美元)。
该国在增加其官方储备资产的净持有量。
4. a.国际投资头寸(10亿):30+20+15—40—25=0(美元)。
该国既不是国际债权国,也不是国际债务国。
它持有的国外资产等于它对外国人的负债。
国际经济学课后练习题答案
绪论部分习题一,填空题1、国际经济学是以(国际经济关系)作为其研究对象的,它包括(国际经济交往活动)和(国际经济相互依存和影响)两层含义。
2、国际贸易的直接原因是(贸易利益的获取),根本原因是(比较优势)、(规模经济)。
3、保护主义性质的贸易政策主要分为(关税壁垒)和(非关税壁垒)两大类。
4、开放经济体系进行宏观经济调控的两个目标是(内部均衡)和(外部均衡)。
5、汇率之所以重要是因为它的实质是(价格),而且它的波动会直接影响一国的(进出口),间接影响一国的(国际收支),进而影响一国的(国内经济均衡)。
6、一个开放的国家,政府制定一项宏观经济政策会带来两种效应,即(溢出效应)和(回振效应)效应。
7、国贸纯理论部分旨在说明(国际贸易产生的原因、贸易模式、贸易利易的产生、贸易利益的分配),国贸政策理论部分旨在说明(保护性的贸易政策对社会经济福利的影响及其理论依据)。
8、西方经济学和国际经济学的共同点在于(研究稀缺资源的优化配置问题)。
二、问答题1、为什么学习国际经济学非常重要?答:①现代世界是一个开放的世界,二战后随着技术创新和制度的不断演进,世界各国为了提高资源配置效率,改善人民经济福利水平,提高综合国力,不断提升开放度,积极地参与国际分工、国际贸易和国际金融活动。
全球经济一体化和区域经济一体化的兴起和发展,跨国公司的迅猛发展,及信息技术革命,使各国国内市场不断延伸和扩展,分工和交易活动不断广化、深化、细化。
各国经济之间的的相互联系、依赖和影响程度不断加强。
因此,专门研究国际经济活动的国际经济学应运而生,并且在经济学中的地位日益提高,成为经济学类学生的一门重要课程。
②西方经济学主要研究在一国范围内经济资源的优化配置及充分就业问题,国际经济学研究在国际格局下经济资源的优化配置及充分就业问题;西方经济学主要研究国内分工贸易等经济活动的规律,而国际经济学则主要研究国际分工贸易等经济活动的规律。
在国际经济活动中,生产要素的流动性、各国制度、法律、语言、文化、宗教、习俗、货币、汇率、各种人为政策等复杂影响使其与国内经济活动呈现出许多不同的规律,故需要一种不同于国内经济活动的理论解释,这样经济学理论才算完整。
《国际经济学》练习题参考答案
《国际经济学》练习题参考答案一、名词解释一价定律:一价定律是绝对购买力平价理论成立的前提条件,指的是任何一种商品在不同国家以同种货币表示时价格都相等。
购买力平价:指两种货币之间的汇率决定于它们单位货币购买力之间的比例。
国际收支:在一定时期内,一国居民与非本国居民间全部经济交易的的系统记录。
产品生命周期:产品生命周期是指新产品经历发明、应用、推广到市场饱和、产品衰落,进而被其他产品所替代四个阶段。
绝对优势原理:由英国古典经济学家亚当·斯密提出,是指在某种商品的生产上,一个经济在劳动生产率上占有绝对优势,或其生产所耗费的劳动成本绝对低于另一个经济。
若各个经济都从事自己占绝对优势的产品的生产,继而进行交换,那么双方都可以通过交换得到绝对的利益,从而整个世界也可以获得分工的好处。
里昂惕夫之谜:里昂惕夫之谜是由美国经济学家里昂惕夫在用其所提出的投入——产出分析方法检验美国进出口是否符合H—O理论所提出的,按照H—O理论,美国应该专业化生产并出口资本密集型的产品,进口劳动密集型的产品,但是,里昂惕夫经过检验计算得出,美国出口的是劳动密集型的产品,进口的是资本密集型的产品,刚好与H—O相反。
因此,人们把这个理论称之为里昂惕夫之谜。
围绕里昂惕夫之谜,经济学家对国际贸易理论进行了更深入的研究。
比较优势原理:即使一国在两种产品的生产上都较另一国没有效率,仍然可以进行双赢的贸易。
第一国应该专业化生产并出口其绝对劣势较小的产品,而进口其绝对劣势较大的产品。
另一个国家则进行相反的贸易。
有效关税率:也叫有效关税率,是指对某个工业每单位产品“增值”部分的从价税率,其税率代表着关税对本国同类产品的真正有效的保护程度。
贸易乘数:指对外贸易对经济增长的巨大作用,通过对外贸易的发展,从而带动国内要素的优化配置,可以对国民经济带来乘数倍的效应。
马歇尔-勒纳条件:是勒纳在马歇尔的国际收支调节乘数论的基础上进一步研究的结果,指的是在供给弹性无穷大的情况下,如果进出口需求弹性的绝对值大于1,货币贬值就能使一国国际收支得到改善,由逆差变为顺差。
国际经济学作业答案
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?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。
8.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。
国际经济学在线作业
国际经济学在线作业1.第1题比较优势理论认为国际贸易的驱动力是()。
A.劳动生产率的差异B.技术水平的差异C.产品品质的差异D.价格的差异您的答案:A题目分数:2此题得分:2.02.第2题如果一个大国对进口商品征收关税()。
A.对贸易条件不产生影响B.提高所有国家的贸易条件C.提高本国的贸易条件D.导致本国贸易条件恶化您的答案:C题目分数:2此题得分:2.03.第3题通常所说的“纸黄金”是()。
A.黄金B.外汇C.普通提款权D.特别提款权您的答案:D题目分数:2此题得分:2.04.第4题甲乙两国货币的实际汇率由名义汇率以及()共同决定。
A.甲国货币购买力B.乙国货币购买力C.两国利率水平D.两国相对物价水平您的答案:D题目分数:2此题得分:2.05.第5题根据蒙代尔的“政策配合说”,用来实现外部均衡的政策手段是()。
A.财政政策B.货币政策C.汇率政策D.直接管制您的答案:B题目分数:2此题得分:2.06.第6题不能解释产业内贸易现象的理论有( )。
A.重叠需求理论B.要素比例理论C.规模经济理论D.垄断竞争理论您的答案:B题目分数:2此题得分:2.07.第7题属于非关税壁垒的措施是( )。
A.反倾销税B.反补贴税C.进口附加税D.国内最低限价您的答案:D题目分数:2此题得分:2.08.第8题下述哪一种不属于投机性外汇交易( )。
A.双边套汇B.多边套汇C.套利D.套期保值您的答案:D题目分数:2此题得分:2.09.第17题IS-LM模型是宏观经济分析的一个重要工具,是描述____市场和____市场之间相互联系的理论结构。
()A.货币资本B.资本劳动力C.资本商品D.货币产品您的答案:D题目分数:2此题得分:2.010.第18题国际经济一体化的形式不包括()。
A.关税同盟B.自由贸易区C.共同市场D.自由市场您的答案:D题目分数:2此题得分:2.011.第19题一国拥有的劳动要素充裕,就应专门生产劳动密集型产品对外进行交换,这种说法来自()。
国际经济学练习题及答案
国际经济学练习题及答案国际经济学练习题⼀、判断题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。
16、青春期是⼀个贫困化增长的好例⼦。
17、⼀国⽣产要素的增长总会使该国更加⾃给⾃⾜,进⽽减少对国际贸易的依赖。
18、⼀个与外界隔绝的国家⼀定会降低其公民的⽣活⽔平。
19、产业内贸易在充分竞争性产业中更为盛⾏。
20、根据H—0理论,各国应进⾏⼤量的产业内贸易。
21、规模经济是指资源的平衡增长导致平均成本上升。
22、产业内贸易发⽣的原因包括产品差异化、规模经济以及收⼊分配效应。
23、如果瑞⼠旅⾏鞋的进⼝增加,英国⽪鞋制造商就会受到损失。
国际经济学课后答案
(1),本国共有1200单位的劳动,能生产两种产品:苹果和香蕉。
苹果的单位产品 劳动投入是3,香蕉的单位劳动产品投入时 2。
a. 画出本国的生产可能性边界。
b. 用香蕉衡量的苹果的机会成本是多少c. 贸易前,苹果对香蕉的相对价格是多少为什么答:a.本国的生产可能性边界曲线是直线,在400( 1200/3)处与苹果轴相截,(1200/2 )处与香蕉轴相截,如图 2-7所b.用香蕉衡量苹果的机会成本是 3/2。
单位苹果需要3单位的劳动,生产1单位单位的劳动可以被用来生产 3/2单位的香蕉c.劳动的流动性可以使得各个部门的工资趋同,竞争可以使得商品的价格等于它们的生产成本。
这样,相对价格等于相对成本,而相对成本等于工资乘以苹果的单位劳动产品投入。
因为各个部门工资相等,所以价格比率等于单位产品劳动投入的比率,即生产苹果所需的3单位劳动与生产香蕉所需的 2单位劳动比率。
(2)假设本国的情况和习题 1相同。
外国拥有800单位的劳动,外国苹果的 单位劳动投入是5,香蕉的单位产品劳动投入是 1。
a. 画出外国的生产可能性边界。
需要2单位的劳动 如果放弃1单位苹果的生产, 这将释放国生产可能勺劳动。
一条 在600 示。
生产1香蕉b. 画出世界相对供给曲线。
答:a.外国的生产可能性边界曲线是一条直线,在160 (800/5 )处与苹果轴相截,在800(800/1)处与香蕉轴相截。
如图2-8所示b.世界相对供给曲线可以由苹果和香蕉的相对价格和相对供给量绘出。
如图2-9。
从图2-9可以看出,苹果对香蕉的最低相对价格是3/2图在这个价格相对供给曲的世界相对供给曲线是水平曲在3/2的木酣价格上世界相国对苹果的最大供给量是400,外国对香蕉的供给量是800,这时,相对供给量为1/2。
只要相对价格保持在3/2和5之间,产量相对供给量就不变。
如果相对价格成为5,两个国家都会生产苹果,香蕉的产量为零。
这时,相对供给曲线是水平的。
国际经济学作业答案-第一章
Chapter 1 IntroductionMultiple Choice QuestionsHistorians of economic thought often describe ___________ written by _______ and published in __________ as the first real exposition of an economic model.“Of the Balance of Trade,” David Hume, 1776“Wealth of Nations,” David Hume, 1758“Wealth of Nations,” Adam Smith, 1758“Wealth of Nations,” Adam Smith, 1776“Of the Balance of Trade,” David Hume, 1758Answer: EFrom 1959 to 2000,the U.S. economy roughly tripled in size.U.S. imports roughly tripled in size.the share of US Trade in the economy roughly tripled in size.U.S. Imports roughly tripled as compared to U.S. exports.U.S. exports roughly tripled in size.Answer: CThe United States is less dependent on trade than most other countries because the United States is a relatively large country.the United States is a “Superpower.”the military power of the United States makes it less dependent on anything.the United States invests in many other countries.many countries invest in the United States.Answer: AAncient theories of international economics from the 18th and 19th Centuries are: not relevant to current policy analysis.are only of moderate relevance in today’s modern international economy.are highly relevant in today’s modern internationa l economy.are the only theories that actually relevant to modern international economy.are not well understood by modern mathematically oriented theorists.Answer: CAn important insight of international trade theory is that when countries exchange goods and services one with the other itis always beneficial to both countries.is usually beneficial to both countries.is typically beneficial only to the low wage trade partner country.is typically harmful to the technologically lagging country.tends to create unemployment in both countries.Answer: BIf there are large disparities in wage levels between countries, thentrade is likely to be harmful to both countries.trade is likely to be harmful to the country with the high wages.trade is likely to be harmful to the country with the low wages.trade is likely to be harmful to neither country.trade is likely to have no effect on either country.Answer: DBenefits of international trade are limited totangible goods.intangible goods.all goods but not services.services.None of the above.Answer: EAttempts to explain the pattern of international tradehave been a major focus of international economists.have proven to be hopeless.have proven to be a trivial exercise.have been the preoccupation of economic development theorists.None of the above.Answer: AWhich of the following does not belong?NAFTAUruguay RoundWorld Trade OrganizationNone Tariff BarriersNone of the above.Answer: DCost-benefit analysis of international tradeis basically useless.is empirically intractable.focuses attention on conflicts of interest within countries.focuses attention on conflicts of interests between countries.None of the above.Answer: CAn improvement in a country’s balance of payments means a decrease in its balance of payments deficit, or an increase in its surplus. In fact we know that a surplus in a balance of payments is good.is usually good.is probably good.may be considered bad.is always bad.Answer: DThe study of exchange rate determination is relativelydifficult.new and mathematical.old.obtuse.None of the above.Answer: BThe GATT wasan international treaty.an international U.N. agency.an international IMF agency.a U.S. government agency.a collection of tariffs.Answer: AThe international debt crisis of early 1982 was precipitated when _____ could not pay its international debts.RussiaMexicoBrazilMalaysiaChinaAnswer: BInternational economics can be divided into two broad sub-fields:macro and micro.developed and less developed.monetary and barter.international trade and international money.static and dynamic.Answer: CA primary reason why nations conduct international trade is because of differences inhistorical perspective.location.resource availabilities.tastes.incomes.Answer: CInternational trade is sometimes used as a substitute for all of the following except international movements of capital.international movements of labor.domestic production of the same goods or services.domestic production of different goods and services.None of the above.Answer: DInternational trade forces domestic firms to become more competitive in terms ofthe introduction of new products.product design and quality.product reliability.product price.All of the above.Answer: EThe movement to free international trade is most likely to generate short-term unemployment in which industries?Industries producing non-tradable goodsImport-competing industriesExport industriesImport sectorsNone of the above.Answer: BInternational trade is logically associated with which assumption?Resources are less mobile internationally than domestically.Resources are more mobile internationally than are goods.Imports should exceed exports.Exports should exceed imports.None of the above.Answer: AArguments for free trade are sometimes disregarded by the political process because economists tend to favor highly protected domestic markets.economists have a universally accepted decisive power over the political decision mechanism.maximizing consumer welfare may not be a chief priority for politicians.the gains of trade are of paramount concern to typical consumers.None of the above.Answer: CIncreased foreign competition tends toincrease profits of domestic import-competing industries.place constraints on the wages of domestic workers.induce falling output per worker for domestic workers.intensity inflationary pressures at homeNone of the above.Answer: B____________ is the ability of a firm to design, produce, and market goods and services that are better and/or cheaper than those of other firms.CompetitivenessProtectionismComparative advantageInterventionismNone of the above.Answer: AFor a country to maximize its productivity in a global economy, it requiresonly imports.only exports.both exports and imports.neither exports nor imports.foreign direct investment.Answer: CProponents of free trade claim all of the following as advantages exceptrelatively high wage levels for all domestic workers.a wider selection of products for consumers.increased competition for world producers.the utilization of the most efficient production processes.None of the above.Answer: AA firm’s ____, relative to that of other firms, is generally regarded as the most important determinant o f competitiveness.income leveltastespreferencesproductivityenvironmental regulationAnswer: DOne likely effect of moving to free international trade is thata monopoly in the home market becomes an oligopoly in the world market.an oligopoly in the home market becomes a monopoly in the world market.a purely competitive firm becomes an oligopolist.a purely competitive firm becomes a monopolist.None of the above.Answer: AInternational trade in goods and services tends toincrease all domestic costs and prices.keep all domestic costs and prices at the same level.lessen the amount of competition facing home manufactures.increase the amount of competition facing home manufacturers.None of the above.Answer: DThe real income of domestic producers and consumers may be increased bytechnological progress, but not international trade.international trade, but not technological progress.neither technological progress nor international trade.both technological progress and international trade.None of the above.Answer: DA sudden shift from import tariffs to free trade may cause short-term unemployment inimport competing industries.exporting industries.industries that neither import nor export.service industriesNone of the above.Answer: AEmpirical studies indicate that productivity performance isdirectly related to globalization of industries.inversely related to globalization of industries.not related to globalization of industries.Any of the above.None of the above.Answer: AA closed economy is one in whichimports exactly equal exports.domestic firms invest in foreign countries.the home economy is isolated from foreign trade or investment.All of the above.None of the above.Answer: CThe dominant trading nation in the world market since World War II wasthe United Kingdom.the United States.Japan.Germany.China.Answer: BEmpirical studies indicate that _______________ best enhances productivity growth for local industries local competitioncut-throat competitiondestabilizing competitionglobal competitionNone of the above.Answer: DHigh levels of openness are most likely associated with a country’spolitical orientation.size.resource availability.historical association with foreign entangling alliances.None of the above.Answer: BEssay QuestionsIt is argued that small countries tend have more open economies than large ones. Is this empirically verified? What are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scaleeconomy possibilities.Another answer would rely on a location argument. Assume that the “natural” marketfor any given plant is a circle with a radius of n miles with the plant at its center.Assuming that the production plants are located randomly throughout the country, thenthe probability that the typical circular market will encompass some foreign country isgreater the smaller is the country.It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico’s. W hat do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up adiscussion, which will lead to the models in the following chapters.Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively largetrade flows from West Africa to France. The relatively sparse trade between countries withinSouth America seems curious.International trade tends to prove that international trade is beneficial to all trading countries. However, casual observation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: Like question 2, this is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.It is argued that small countries tend have more open economies than large ones. Is this empirically verified? What are the logical underpinnings of this argument?Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do not have a sufficiently large market to enable their industries to avail themselves of scaleeconomy possibilities.Anot her answer would rely on a location argument. Assume that the “natural” marketfor any given plant is a circle with a radius of n miles with the plant at its center.Assuming that the production plants are located randomly throughout the country, thenthe probability that the typical circular market will encompass some foreign country isgreater the smaller is the country.It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico’s. What do you think about this argument?Answer: The student may think anything. The purpose of the question is to set up adiscussion, which will lead to the models in the following chapters.Some patterns of international trade are easier to explain than others. Give several examples and explain.Answer: Historical circumstance can explain some patterns such as the relatively largetrade flows from West Africa to France. The relatively sparse trade between countries withinSouth America seems curious.International trade tends to prove that international trade is beneficial to all trading countries. However, casual observation notes that official obstruction of international trade flows is widespread. How might you reconcile these two facts?Answer: Like question 2, this is meant to allow students to offer preliminary discussions of issues, which will be explored in depth later in the book.International Trade theory is one of the oldest areas of applied economic policy analysis. It is also an area for which data was relatively widely available very early on. Why do you suppose this is the case?Answer: In ancient times, public finance was not well developed. Most of the populationwas not producing and consuming within well-developed market economies, so that income and sales taxes were not efficient. One of the most convenient ways for governments to obtainresources was to set up custom posts at borders and tax. Hence international trade was of greatpolicy interest to princes and kings, as was precise data of their main tax base.Quantitative/Graphing ProblemsThe figure above is the Production Possibility Frontier (PPF) of Baccalia, where only two products are produced, clothing and wine. In fact Baccalia is producing on its PPF at point A. By and large the people of Baccalia are content, as both their external and internal needs for warmth are satisfied in the most economically efficient manner possible, given their available productive resources (and known technology). How much wine is being produced? How much cloth? If a person in this country wanted to purchase a liter of wine, what would be the price he or she would have to pay?Judging from what you learned in the previous paragraph, can you indicate at which point (if atall) the Community Indifference Curve is tangent to the Production Possibility Frontier? Explain your reasoning.Answer: 6 million liters of wine are being produced.3 million square yards of cloth are being produced.The price of 1 liter of wine is one half of a square yard of cloth.The tangency is at point A. We know this because otherwise the country would not beproducing at the point of maximum economic efficiency.One day, Baccalia joined the WTO and joined the Global Village. They discovered that in the LWE (London Wine Exchange), 1 liter of wine is worth 1 square yard of cloth. What is the logical production point they should strive for?Answer: 10 million liters of wine.They wish to enjoy to the fullest from the gains from trade, but are not willing to give up imbibing even one drop of wine from the 6 million liters they consumed in their original autarkic state. If their new consumption point is a point we shall designate as point b, describe where this point would be found.Answer: Vertically above point aWhere is the Community Indifference Curve family of curves tangent to their new Consumption Possibility Frontier?Answer: At point b.How can you prove that Baccalia has in fact gained from the availability of trade, and that their new situation is superior to the pre-trade situation (with which they were quite content)?Answer: The country was consuming at point a before trade. It is now consuming at point b with trade. Point b represents a superior welfare combination of goods as compared to point a,since at b the country has more of each of the goods.。
(完整版)国际经济学课后答案
第一章绪论1、列举出体现当前国际经济学问题的一些重要事件,他们为什么重要?他们都是怎么影响中国与欧、美、日的经济和政治关系的?当前的国际金融危机最能体现国际经济学问题,其深刻地影响了世界各国的金融、实体经济、政治等领域,也影响了各国之间的关系因此显得尤为重要;其对中国与欧、美、日的政治和经济关系的影响为:减少中国对上述国家的出口,影响中国外汇储备,贸易摩擦加剧,经济联系加强,因而也会导致中国与上述国家在政治上的对话与合作。
2、我们如何评价一国与他国之间的相互依赖程度?我们可以通过一国的对外贸易依存度来评价该国与他国之间的相互依赖程度,也可以通过其他方式来评价比如一国政府政策的溢出效应和回震效应以及对外贸易对国民生活水平的影响。
3、国际贸易理论及国际贸易政策研究的内容是什么?为什么说他们是国际经济学的微观方面?国际贸易理论分析贸易的基础和所得,国际贸易政策考察贸易限制和新保护主义的原因和效果。
国际贸易理论和政策是国际经济学的微观方面,因为他们把国家看作基本单位,并研究单个商品的(相对)价格。
4、什么是外汇交易市场及国际收支平衡表?调节国际收支平衡意味着什么?为什么说他们是国际经济学的宏观方面?什么是宏观开放经济学及国际金融?外汇交易市场描述一国货币与他国货币交换的框架,国际收支平衡表测度了一国与外部世界交易的总收入与总支出的情况。
调节国际收支平衡意味着调节一国与外部世界交易出现的不均衡(赤字或盈余);由于国际收支平衡表涉及总收入和总支出,调节政策影响国家收入水平和价格总指数,因而他们是国际经济学的宏观方面;外汇交易及国际收支平衡调节涉及总收入和总支出,调整政策影响国家收入水平和价格总指数,这些内容被称为宏观开放经济学或国际金融。
5、浏览报刊并做下列题目:(1)找出5条有关国际经济学的新闻(2)每条新闻对中国经济的重要性或影响(3)每条新闻对你个人有何影响A (1) 国际金融危机: 影响中国整体经济,降低出口、增加失业、经济减速等(2) 美国大选:影响中美未来经济政治关系(3) 石油价格持续下跌:影响中国的能源价格及相关产业(4) 可口可乐收购汇源被商务部否决:《反垄断法》的第一次实施,加强经济法治(5) 各国政府经济刺激方案:对中国经济产生外部性效应B 以上5条新闻对个人影响为:影响个人消费水平和就业前景第二章比较优势理论1、重商主义者的贸易观点如何?他们的国家财富概念与现在有何不同?重商主义者主张政府应当竭尽所能孤立出口,不主张甚至限制商品(尤其是奢侈类消费品)。
国际经济学习题及参考答案
国际经济学习题及参考答案国际经济学作业⼀、名词解释幼稚产业:所谓幼稚产业是指某⼀产业处于发展初期,基础和竞争⼒薄弱但经过适度保护能够发展成为具有潜在⽐较优势的新兴产业。
倾销:是指⼀国(地区)的⽣产商或出⼝商以低于其国内市场价格或低于成本价格将其商品抛售到另⼀国(地区)市场的⾏为。
提供曲线:也称相互需求曲线,是由马歇尔和艾奇沃斯提出的,它表明⼀个国家为了进⼝⼀定量的商品,必须向其他国家出⼝⼀定量的商品,因此提供曲线即对应某⼀进⼝量愿意提供的出⼝量的轨迹。
两个国家的提供曲线的交汇点所决定的价格,就是国际商品交换价格(交换⽐率)。
国际收⽀:国际收⽀分为狭义的国际收⽀和⼴义的国际收⽀。
狭义的国际收⽀指⼀个国家或地区与世界其他国家或地区之间由于贸易、⾮贸易和资本往来⽽引起的国际间资⾦收⽀流动的⾏为。
包括两种具体形式:直接的货币收⽀和以货币表⽰的资产的转移。
反映了以货币为媒介的国际间的债权、债务关系。
⼴义的国际收⽀为系统记载的、在特定时期内(通常为⼀年)⼀个国家或经济体的居民与世界其他地⽅居民的全部各项经济交易,不仅包括外汇收⽀的国际借贷关系,还包括⼀定时期全部经济交易与往来。
⼆、简答题试画出出⼝贫困化增长的图形并作出分析答:出⼝贫困化增长,是指某国的传统出⼝产品的出⼝规模极⼤地增长,但结果不仅使该国的贸易条件严重恶化,⽽且该国的国民福利⽔平也出现下降,这种现象⼀般出现在发展中国家。
贸易条件变化前,该国⽣产均衡点为A,消费点为C;由于该国传统出⼝产品X 的出⼝规模极⼤增长,使得该国贸易条件恶化,此时,⽣产点变为A’,消费点变为C’。
由图中的⽆差异曲线可以看出,该国贸易条件的变化使得它的福利⽔平低于增长前。
这种情形就成为“出⼝贫困化增长”。
产⽣出⼝贫困化增长的原因主要有:(1)该国在该种出⼝产品的出⼝量中占到相当⼤的⽐重,这样,当其出⼝⼤幅度增加时,会导致世界市场上出现供⼤于求的情况,导致价格⼤幅下跌。
(2)该种产品的需求国的需求弹性很低,当产品价格降低时,需求是并不会相应⼤幅增长。
国际经济学作业答案
一、名词解释1.要素禀赋:资源禀赋又称为要素禀赋,指一国拥有各种生产要素,包括劳动力、资本、土地、技术、管理等的丰歉。
一国要素禀赋中某种要素供给所占比例大于别国同种要素的供给比例而价格相对低于别国同种要素的价格,则该国的这种要素相对丰裕;反之,如果在一国的生产要素禀赋中某种要素供给所占比例小于别国同种要素的供给比例而价格相对高于别国同种要素的价格,则该国的这种要素相对稀缺。
2比较优势3.生产者剩余4.购买力平价5规模经济6套值保值二、单项选择题1.根据相互需求原理,两国均衡的交换比例取决于(B)A 两国的绝对优势B 两国的比较优势C 两国的相对需求强度D 两国的要素禀赋2.在当今的国际贸易格局中,产业内贸易更容易发生于( B )A 发展中国家与发达国家B 发达国家与发达国家C 发展中国家与发展中国家D 发展中国家和最不发达国家3.课征关税会增加生产者剩余,减少消费者剩余,社会总福利的变化将(B )A 上升B 降低C 不变D 不确定4.已知A国生产1单位的X和Y商品分别耗费3和5个单位的劳动,要使两国都具有绝对优势,则B国生产1单位的X和Y商品分别耗费多少单位的劳动:( A )A1,6 B2,4 C3,4 D4,75.从国际经济学的角度来考察,构成经济活动的基本单位或行为主体是( D )A 企业B 居民户C 家庭D 国家6.下列选项中不属于比较利益学说的假设的是( B )A 以劳动价值论为基础B 要素是完全流动的C 要素和产品市场都是完全竞争的D 收入分配不受贸易影响7.从国际经济资源流动的难度看,最容易流动的要素是( A )A.商品B.资本C.人员D.技术8.在绝对技术差异理论与相对技术差异理论中,机会成本是( D )A.递增B.递减C.先递增后递减D.不变9.不能解释产业内贸易现象的理论有( B )A.重叠需求理论B.要素比例理论C.规模经济理论D.垄断竞争理论10.下列不属于保护贸易学说的理论有( D )A.幼稚工业理论B.夕阳工业理论C.国防论D.资源禀赋论11.世界贸易组织秘书处设在( A )A.日内瓦B.纽约C.布鲁塞尔D.乌拉圭11.下述哪一种不属于投机性外汇交易( D )A.双边套汇B.多边套汇C.套利D.套期保值12.设三年前美元对人民币的汇率是1美元等于8.2345元人民币,假设美国的物价比前一年上升8%,而中国的物价水平上升10%,则美元与人民币之间理论上的汇率为( A )A.8.3870B.8.085C.10.2931D.6.587613.在1997年东南亚金融危机中,最早出现金融动荡的国家是( B )A.印度尼西业B.泰国C.日本D.韩国14.倾销行为主要分为两种,包括( C )A.掠夺性倾销和间歇性倾销 B.攻击性倾销和间歇性倾销C.持续性倾销和掠夺性倾销 D.持续性倾销和间歇性倾销15.采取出口导向战略的国家倾向于( B )A.保护贸易政策 B.自由贸易政策C.非关税贸易壁垒 D.关税贸易壁垒三、判断正误:1.列昂惕夫反论提出的问题可能是由于美国的关税对劳动密集型产业给予了保护。
《国际经济学》作业参考答案
《国际经济学》作业参考答案一、判断题1.F2.F 3.T 4.F 5.T 6.T 7.T 8.T 9.F 10.F 11.F 12.T13.T 14.T 15.F 16.F 17.T 18.F 19.T 20.F 21.F 22.T23.F 24.F二、选择题1.c 2.d 3.b 4.b 5.c 6.d 7.d 8.c 9.a 10.c 11.b 12.d 13.A 14.A 15.B 16.D 17.D 18.B 19.C 20.D 21.D 22.A 23.C 24.C 25.c 26.b 27.d 28.d 29.c 30.c 31.d 32.b 33.d 34.b 35.D36.c 37.a 38.d 39.a 40.d 41.d 42.d 43.b 44.d 45.c 46.b三、概念解释1.罗伯津斯基定理:在商品相对价格不变的前提下,某一要素的增加会导致密集使用该要素部门的生产增加,而另一部门的生产则下降。
2.幼稚产业理论:是从动态角度提出了保护那些具有潜在优势的新兴产业的观点,但这种保护是一种暂时性的。
判别幼稚产业的标准主要有三种:其中穆勒标准强调将来的竞争优势,而巴斯塔布尔标准认为幼稚产业不仅强调将来的竞争优势,而且将来的预期收益的现值应能抵消现有的保护成本,坎普标准则更为注重外部规模京的重要性。
3.战略性贸易政策:该政策是针对一种特殊的不完全竞争市场结构---寡头垄断市场结构提出的。
在寡头垄断市场结构下,政府对贸易活动进行干预目的是改变市场结构或环境,以提高本国企业的国际竞争力,使本国企业获得更多的垄断利润或租金。
战略性贸易政策最为强调的政策主张有两种:一是出口补贴,而是进口保护以促进出口。
4.一国所拥有的两种生产要素的相对比例。
这是一个相对概念,与一国所拥有的生产要素的绝对数量无关。
5.斯托帕-萨谬尔森定理:无论两种要素的所有者倾向于消费哪种商品,国际贸易将提高一国出口产品中密集是用要素(即本国较丰裕的要素)的收益,而降低其进口产品中密集使用要素(即本国较稀缺的要素)的收益。
国际经济学作业答案
1.下表列出了在4种假定情形下,美、英两国1小时劳动可生产小麦与布匹的数量。
指出每种情况下,美、英两国具有绝对优势和比较优势的商品。
(绝对优势不作答,明白即可,只写比较优势商品)表1在美国和英国的生产可能性组合2.假设在上表中的B情形下,美国用4单位小麦与英国的4单位布交换:(1)美国获利多少?(2)英国获利多少?(3)互惠贸易的范围有多大?3.美国和英国两个国家,电脑和饮料两种产品。
表中数字代表两个国家生产单位产品的劳动投入(小时),且劳动为唯一生产要素。
假设美国总的劳动时间为800小时,英国总的劳动时间为600小时。
电脑饮料美国104英国63(1)计算两个国家生产电脑的机会成本(2)哪一个国家在生产饮料方面有比较优势?(3)贸易开放后,若电脑与饮料的交换比率为1:2.2,则与国内生产相比,英国进口每单位相关产品能够节约多少劳动?4.两个国家,本国和外国,两种产品,苹果和手机。
本国共有600单位的劳动力数量,每小时生产单位苹果需要3单位的劳动力投入,每小时生产单位手机需要2单位的劳动力投入。
外国共有400单位的劳动力数量,每小时生产单位苹果需要5单位的劳动力投入,每小时生产单位手机需要1单位的劳动力投入。
(1)画出本国和外国的生产可能性边界。
(2)贸易前,两国苹果的相对价格分别是多少?为什么?(3)画出世界市场苹果的供给曲线(4)如果贸易后苹果的均衡相对价格为2,画图说明本国和外国的贸易所得。
1.(1)A情况下,美国具有绝对优势的商品是小麦,英国具有绝对优势的商品是布;B情况下,美国具有绝对优势的商品是布和小麦,英国不存在具有绝对优势的商品;C情况下,美国具有绝对优势的商品是小麦,英国不存在具有绝对优势的商品;D情况下,美国具有绝对优势的商品是布和小麦,英国不存在具有绝对优势的商品。
(2)A情况下,美国具有比较优势的商品是小麦,英国则相反;B情况下,美国具有比较优势的商品是小麦,英国则相反;C情况下,美国具有比较优势的商品是小麦,英国则相反;D情况下,由于两种商品的两国生产率之比相同,两国不存在具有比较优势的商品。
国际经济学作业答案-第四章
国际经济学作业答案-第四章Chapter 4 Resources and Trade: The Heckscher-Ohlin ModelMultiple Choice Questions1. In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would(a) move the point of production along the production possibility curve.(b) shift the production possibility curve outward, and increase the production of both goods.(c) shift the production possibility curve outward and decrease the production of the labor-intensiveproduct.(d) shift the production possibility curve outward and decrease the production of the capitalintensiveproduct.(e) None of the above.Answer: D2. 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.Answer: D3. In the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade will benefitthe owners of(a) capital.(b) the relatively abundant factor of production.(c) the relatively scarce factor of production.(d) the relatively inelastic factor of production.(e) the factor of production with the largest elasticity of substitution. Answer: B4. In the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade(a) will tend to make the wages in both countries more similar.(b) will equalize the wages in both countries.(c) will tend to make the wages in both countries less similar.(d) will tend to make wages equal to returns to capital.(e) will tend to make rents equal to interest rates. Answer: A国际经济学作业答案-第四章5. The Leontieff Paradox(a) supported the validity of the Ricardian theory of comparative advantage.(b) supported the validity of the Heckscher-Ohlin model.(c) failed to support the validity of the Ricardian theory.(d) failed to support the validity of the Heckscher-Ohlin model.(e) proved that the U.S. economy is different from all others. Answer: D6. The Leontieff Paradox(a) refers to the finding that U.S. exports were more labor intensive than its imports.(b) refers to the finding that U.S. Exports were more capital intensive than its exports.(c) refers to the finding that the U.S. produces outside its Edgeworth Box.(d) still accurately applies to today ' s pattern of U.S. international trade.(e) refers to the fact that Leontieff —an American economist —had a Russian name. Answer: A7. The 1987 study by Bowen, Leamer and Sveikauskas(a) supported the validity of the Leontieff Paradox.(b) supported the validity of the Heckscher-Ohlin model.(c) used a two-country and two-product framework.(d) demonstrated that in fact countries tend to use different technologies.(e) proved that the U.S. ' s comparative advantage relied on skilled labor.Answer: A8. Empirical observations on actual North-South trade patterns tend to(a) support the validity of the Leontieff Paradox.(b) support the validity of the Heckscher-Ohlin model.(c) support the validity of the Rybczynski Theorem.(d) support the validity of the wage equalization theorem.(e) support the validity of the neo-imperialism exploitation theory. Answer: B9. The Case of the Missing Trade refers to(a) the 9th volume of the Hardy Boys ' Mystery series.(b) the fact that world exports does not equal world imports.(c) the fact that factor trade is less than predicted by the Heckscher-Ohlin theory.(d) the fact that the Heckscher Ohlin theory predicts much less volume of trade than actually exists.(e) None of the above.Answer: C国际经济学作业答案-第四章10. If the Unted States had relatively more capital per worker than Mexico, and if the Leontieff Paradox applied to this trade,then a successful expansion of trade under NAFTA between Mexico and the United States would tend to benefit which group in the United States?(a) Environmentalists(b) Capitalists(c) Workers(d) Land owners(e) Skilled labor with relatively high levels of human capital Answer: C11. According to the Heckscher- Ohlin model, the source of comparative advantage is a country 's(a) technology.(b) advertising.(c) human capital.(d) factor endowments.(e) Both (a) and (b).Answer: D12. The Hechscher-Ohlin model states that a country will have a comparative advantage in the good or service whoseproduction is relatively intensive in the _________________ with which the country is relativelyabundant.(a) tastes(b) technology(c) factor of production(d) opportunity cost(e) scale economy Answer: C13. One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assumingthat _______________________________ is (are) identical in all countries.(a) factor of production endowments(b) scale economies(c) factor of production intensities(d) technology(e) opportunity costs Answer: D14. According to the Hecksher-Ohlin model,(a) everyone automatically gains from trade(b) the scarce factor necessarily gains from trade(c) the gainers could compensate the losers and still retain gains.(d) a country gains if its exports have a high value added.(e) None of the above.Answer: C国际经济学作业答案-第四章15. The Heckscher-Ohlin model assumes that ____ are identical in all trading countries(a) tastes(b) technologies(c) factor endowments(d) Both (a) and (b).(e) None of the above.Answer: B16. As opposed to the Ricardian model of comparative advantage, the assumption of diminishing returns in theHeckscher-Ohlin model means that the probability is greater that with trade(a) countries will not be fully specialized in one product.(b) countries will benefit from free international trade.(c) countries will consume outside their production possibility frontier.(d) comparative advantage is primarily supply related.(e) None of the above.Answer: A17. Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively laborabundant, then once trade begins(a) wages and rents should rise in H(b) wages and rents should fall in H(c) wages should rise and rents should fall in H.(d) wages should fall and rents should rise in H.(e) None of the above.Answer: C18. Which of the following is false (for the Heckscher-Ohlin model)?(a) If tastes are not identical in both countries, wages may still equalize.(b) Differences in technologies could be the source of gains from trade.(c) Some groups may gain and some may lose due to trade.(d) Gains for the trade-related winners will tend to be larger than losses of losers.(e) None of the above.Answer: B19. If tastes differed between countries, this could affect(a) wage equalization due to trade with no specialization.(b) the direction of trade (who exports what to whom).(c) the fact that some groups in a country might lose welfare due to trade.(d) the fact that the country as a whole will gain from trade.(e) None of the above. Answer: B国际经济学作业答案-第四章20. Suppose that there are two factors, capital and land, and that the United States is relatively land en dowed while theEuropea n Union is relatively capital-e ndowed. Accordi ng to the Heckscher- Ohlin model,(a) European Iandowners should support U.S.-European free trade.(b) European capitalists should support U.S.-European free trade.(c) all capitalists in both countries should support free trade.(d) all landowners should support free trade.(e) None of the above.An swer: B21. According to the Heckscher-Ohlin model, if the United States is richly endowed in human-capital relative to Mexico, the nas NAFTA in creas in gly leads to more bilateral free trade betwee n the two coun tries,(a) the Un ited States will find its in dustrial base sucked into Mexico.(b) Mexico will find its relatively highly skilled workers draw n to theUni ted States.(c) The wages of highly skilled U.S. workers will be drawn down toMexican levels.(d) The wages of highly skilledMexica n workers will rise to those in the Uni ted States.(e) The wages of highly skilledMexica n workers will fall to those inthe Uni ted States.An swer: E22. Assume that only two coun tries, A and B, exist.Consider the following data:If good S is capital intensive, then following the Heckscher-Ohlin Theory,(a) country A will export good S.(b) country B will export good S.(c) both countries will export good S.(d) trade will not occur between these two countries.(e) Insufficient information is given.An swer: B23. Continuing from Question #22, if you are told that Country B is very much richer than Country A, the n the correct answer is:(a) country A will export good S.(b) country B will export good S.(c) both countries will export good S.(d) trade will not occur between these two countries.(e) insufficient information is given.An swer: B国际经济学作业答案-第四章24. Continuing from Question #22, you are told that Country B is very much larger than country A. The correct answeris:(a) country A will export good S.(b) country B will export good S.(c) both countries will export good S.(d) trade will not occur between these two countries.(e) insufficient information is given.Answer: B25. Continuing from Question #22, you are told that Country B has no minimum wage or child labor laws. Now thecorrect answer is:(a) country A will export good S.(b) country B will export good S.(c) both countries will export good S.(d) trade will not occur between these two countries.(e) Insufficient information is given.Answer: B26. Continuing from Question #22, you now are told that the labor unions representing the workers in each of the tworespective countries are considering lobbying against the opening of international trade between these twocountries. Note that workers ' income is derived solely from wages.(a) This would be a misguided decision from the viewpoint of the workers in both countries, since trade is alwaysbetter than autarky.(b) This would be a good decision from the viewpoint of workers in Country A since international trade helps thecapitalists and hurts the workers.(c) This would be a good decision from the viewpoint of workers in Country B since international trade helps theowners of capital and hurts the workers.(d) This would be a good decision for both unions since trade hurts workers wherever they live.(e) None of the above.Answer: C27. We are now told that the information given us in Question #22 was not exactly accurate, and that in fact S isrelatively capital intensive only when relative wages are high, but becomes relatively labor intensive when relative wages are low. Given this information:(a) country A will export good S.(b) country B will export good S.(c) both countries will export good S.(d) trade will not occur between these two countries.(e) Insufficient information is given.Answer: E国际经济学作业答案-第四章28. The following are all assumptions that must be accepted in order to apply the Heckscher-Ohlin Theory, except forone:(a) countries differ in their endowments of factors of production.(b) countries differ in their technologies.(c) there are two factors of production.(d) production is subject to constant returns to scale.(e) one product always requires more machines per worker in its production than does the other product.Answer: B29. In international-trade equilibrium in the Heckscher-Ohlin model,(a) the capital rich country will charge less for the capital intensive good than the price paid by the capital poorcountry for the capital-intensive good.(b) the capital rich country will charge the same price for the capital intensive good as that paid for it by the capitalpoor country.(c) the capital rich country will charge more for the capital intensive good than the price paid by the capital poorcountry for the capital-intensive good.(d) the workers in the capital rich country will earn more than those in the poor country.(e) the workers in the capital rich country will earn less than those in the poor country. Answer: B30. If two countries were very different in their relative factor availabilities, then we would not expect which of thefollowing to be empirically supported?(a) The Heckscher-Ohlin Theorem(b) The Factor Price Equalization Theorem.(c) The Law of One Price(d) The Law of Demand(e) None of the above. Answer: B31. When Country A produces both goods more efficiently than Country B, then(a) country A should produce both goods and not trade.(b) country A should specialize in its good of least absolute disadvantage.(c) both countries would benefit from autarky.(d) both countries may not benefit from trade.(e) None of the above. Answer: E32. The minimum information required to determine Country A 's comparative advantage is(a) the number of hours of labor in the economy of A.(b) ratio of labor inputs for products S and T in A.(c) total available labor, labor required per unit of S, and labor required per unit of T in A.(d) total available labor and the ratio of labor inputs for S and T in A.(e) None of the above. Answer: E国际经济学作业答案-第四章33. The slope of a country ' s 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).Answer: A34. 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.Answer: C35. The Heckscher-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former(a) has only two countries.(b) has only two products.(c) has two factors of production.(d) has two production possibility frontiers (one for each country).(e) None of the above.Answer: C36. International trade has strong effects on income distributions. Therefore, international trade(a) is beneficial to everyone in both trading countries.(b) will tend to hurt one trading country.(c) will tend to hurt some groups in each trading country.(d) will tend to hurt everyone in both countries.(e) will be beneficial to all those engaged in international trade. Answer: C37. Factors tend to be specific to certain uses and products(a) in countries lacking comparative advantage.(b) in the short run.(c) in capital-intensive industries.(d) in labor-intensive industries.(e) in countries lacking fair labor laws.Answer: B国际经济学作业答案-第四章38. If the price of the capital intensive product rises more than does the price of the land intensive product, then(a) demand will shift away from the capital-intensive product, and its production will decrease.(b) demand will shift away from the capital-intensive product, and its production will decrease relative to that of theland intensive product.(c) the production of the capital-intensive product will indeed decrease, but not for the reasons mentioned in (a) or(b).(d) the countries exporting the capital-intensive good will lose its comparative advantage.(e) None of the above. Answer: E39. If Australia has relatively more land per worker, and Belgium has relatively more capital per worker, then if tradewere 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. Answer: C40. If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open upbetween these two countries,(a) the real income of capital owners in Australia would rise.(b) the real income of labor in Australia would clearly rise.(c) the real income of labor in Belgium would clearly rise.(d) the real income of landowners in Belgium would fall.(e) the real incomes of capital owners in both countries would rise. Answer: D41. If trade opens up between the two formerly autarkic countries, Australia and Belgium, then(a) the real income of Australia and of Belgium will increase.(b) the real income of Australia but not of Belgium will increase.(c) the real income of neither country will increase.(d) the real income of both countries may increase.(e) the real income of both countries will increase. Answer: D42. If the price of food (a land intensive product) rises, then the income of capital owners will fall because(a) capital owners consume only food.(b) the real wage in terms of manufactures rises.(c) they must pay higher wages to maintain subsistence levels.(d) food is an element of organic capital for capitalists.(e) None of the above. Answer: B国际经济学作业答案-第四章43. If Japan is relatively capital rich and the United States is relatively land rich, and if food is relatively landintense then trade between these two, formerly autarkic countries will(a) lead to perfect specialization with Japan alone producing manufactures.(b) create a world relative price of food that is lower than that of the U.S.(c) lower the price of food in both countries.(d) raise the price of food in both countries.(e) None of the above.Answer: E44. The reason trade clearly benefits a country is that(a) it raises the real income of the more productive elements in society.(b) it lowers the real income of the less productive elements in society.(c) it increases the levels of consumption of everyone.(d) it increases society ' s consumption choices.(e) None of the above.Answer: D45. As compared to potential gainers, those who stand to lose from trade(a) are likely to migrate to another country.(b) tend to be more effectively organized politically.(c) tend to reject compensation as smacking of socialism.(d) are universally opposed by economists who consider them parasites.(e) None of the above.Answer: B46. Those who stand to gain from trade(a) do not really care about the issue of income redistribution.(b) could not compensate losers since there are so many poor people.(c) could compensate losers but would rather not in modern industrial economies.(d) compensate losers at least partially through such legislation as unemployment compensation, orretraining grants.(e) None of the above.Answer: D47. Groups that lose from trade tend to lobby the government to(a) shift the direction of comparative advantage.(b) abolish the Specific Factor model from practical application.(c) provide public support for the relatively efficient sectors.(d) provide protection for the relatively inefficient sectors.(e) None of the above.Answer: D国际经济学作业答案-第四章48. It was found that when the United States imposed steel quotas, this caused harm not only to steel consumers, butalso to many producers for whom steel is an important input. This insight(a) suggests that general equilibrium models of tariffs will demonstrate that the partial equilibrium deadweight losstriangles tend to overstate the tariff harm.(b) suggests that the deadweight loss triangles from partial equilibrium models tend to understate the harm tosociety of protectionism.(c) suggests that it is quite sensible that producers tend to support quotas.(d) suggests that steel production is an infant industry in the U.S.(e) None of the above.Answer: B49. It was found that when the United States placed quotas on imported Japanese semiconductors, this harmed theinternational competitiveness of U.S. computer manufacturers. This is a good illustration of the principle that(a) trade benefits the factor that is specific to the export sector.(b) protectionism helps manufacturers but harms consumers.(c) protectionism harms the factor that is specific to the export sector.(d) effective protection is not the same as a nominal tariff or tariff equivalent.(e) None of the above.Answer: D50. Ricardo 's model of comparative advantage demonstrated no harm to anroyugp in the economy as a result of freetrade. This was probably because(a) Ricardo did not understand the concept of diminishing returns.(b) the specific factor model had not yet been invented.(c) Heckscher and Ohlin had not yet been born.(d) a model, which demonstrated such harm, would have been counter-productive to Ricardo ' spolitical or polemical aims.(e) None of the above.Answer: D51. When the Napoleonic Wars were over, the Corn Laws were enacted in England. This may be understood in termsof the following:(a) The Hecksher-Ohlin model.(b) The intra-trade model.(c) The monopolistic competition model(d) The scale economies model(e) None of the above.Answer: A国际经济学作业答案-第四章52. If Gambinia has many workers but very little land and even less productive capital, then, followingthe specific factor model, we know that Gambinia has a comparative advantage in(a) manufactures.(b) food.(c) both manufactures and food.(d) neither manufactures nor food.(e) Not enough information given.Answer: E53. If, relative to its trade partners, Gambinia has many workers but very little land and even less productive capital,then, following the specific factor model, in order to help the country welfare, the Gambinian government should(a) protect the manufacturing sector.(b) protect the agricultural sector.(c) protect both sectors.(d) not resort to protectionism(e) None of the above.Answer: DEssay Questions1. “ A good cannot be both lan-dand labor-intensive. ” Discuss.Answer: In a two good, two factor model, such as the original Heckscher-Ohlin framework, the factor intensities are relative intensities. Hence, the relevant statistic is either workers per acre (or acres per worker); or wageper rental unit (or rental per wage). In order to illustrate the logic of the statement above, let us assumethat the production of a broom requires 4 workers and 1 acre. Also, let us assume that the production ofone bushel of wheat requires 40 workers and 80 acres. In this case the acres per person required toproduce a broom is one quarter, whereas to produce a bushel of wheat requires 2 acres per person. Thewheat is therefore (relatively) land intensive, and the broom is (relatively) labor intensive.2. “ No country is abundant in everything. ” Discuss.Answer: the concept of relative (country) factor abundance is (like factor intensities) a relative concept. When we identify a country as being capital intensive, we mean that it has more capital per worker than does theother country. If one country has more capital worker than another, it is an arithmetic impossibility that italso has more workers per unit capital.3. There is frequently a conflict between short-term and long-term interests in trade. Discuss.Answer: In trade models, the short term is typically defined as that (conceptual) period of time in which both the technology and the amount of factors of production are given and cannot be changed. When we state thatfree trade can be shown to be an optimal policy under certain circumstances, we mean that in the shortrun, this policy can bring a country to an optimum level of consumption. However, there is noinconsistency in the proposition that the optimum short run solution may not be the solution, whichmaximizes the likelihood of economic expansion or growth (the long run). For example, a policy whichmaximizes consumption may not take into account inter- temporal preferences, and hence may -“ shortchange ” future generations (or those who care for future generations).国际经济学作业答案-第四章4. International trade leads to complete equalization of factor prices. Discuss.Answer: This statement is typically “ true . . . but. ” Under a strict and limited set of assumptions, such as the original Heckscher-Ohlin model which excludes country specific technologies; non- homothetictastes; factor intensity reversals; large country differences in (relative) factor abundances, more factors thangoods, and an equilibrium solution within the of specialization then”it ;may be demonstrated that internalconsistency demands that the above stated sentence is “ true. ” However, the minute one relaxes any of theabove listedassumptions one may easily identify solutions, which contradict the factor price equalization theorem.5. Countries that are willing to tolerate an unusually high quantity of pollution relative to their suppliesof other factors would tend to export -inte“nsipvoellutio”n goods. Discuss using the Hechs-cherOhlin (H.O.) model.Answer: This statement is badly crafted. It seems to imply that pollution per say is a proper factor of production. That is, just as if you add a worker, you get additional product, so the marginal product of pollution is positive. Theproblem here is that pollution is not really a factor of production, but rather an externality, which may be moretypical of imported goods than exported ones. In such a case, the statement above is false.6. Countries do not in fact export the goods the H.O. theory predicts. Discuss.Answer: This statement is not true. Although one may find many cases where it seems to be true (e.g. the Leontieff Paradox ), all one needs to do in order to render the above statement not (generally) true is to find onecounter example. In fact, one can find large subsets of agricultural and commodity products in which the H.Opredictions are generally fulfilled. Labor-intensive countries such as Bangladesh do in fact export relativelylabor-intensive goods. Capital-intensive countries such as Germany do in fact export capital-intensiveproducts (at least to South countries). Countries such as Costa Rica ( “ sunshine abundant ” ) tend to exportbananas (sunshine-intensive products). The U.S. (a wheat-land-abundant country) does indeed export wheat(a wheat-land intensive product). In fact, since the early 1980s, the Leontieff Paradox was not found todescribe the U.S. trade data (hence ratifying the H.O. theory).7. Why is the H.O. model called the factor-proportions theory?Answer: The H.O. model explores the nature and the limitations of assuming that the sole determinant of comparative advantage is inter-country differences in (relative) factor proportions.8. Why do we observe the Leontief paradox?Answer: There are many possible answers. They may be classified into three groups. One would argue that the model, or theory is wrong. The other would argue that the theory is correct (internally consistent and descriptive ofreal world data), but the real world data is incorrectly perceived, defined or measured. The third would arguethat the statement itself is wrong, and that in fact the Leontieff paradox itself is not actually observed, butrather is due to faulty logical rendering of the original model.国际经济学作业答案-第四章9. Why are prices of factors of production not equalized?Answer: Again this statement may or may not be argued to be true. On the one hand, the large volume and growth in world trade between the United States and other OECD countries during the 50 years sinceWorld War II has clearly been related to a near universal (average) convergence in real wage levelsin these countries, whereas the most obvious cases in which such a convergence did not take place(North-South countries) also happened to be cases in which trade was relatively small and“ missing.There are many theoretical reasons why factor price equalization may not occur. If the relativecountry relative abundances are very different, then the theory itself does not predict that the wageequalization will occur. The same is true of factor intensity reversals exist within relevant relativewage ranges. Dynamic migration models such as Harris- Todaro are another class of theory that may。
国际经济学习题参考答案..
一、单项选择题[请自己谨慎核对,防止答案序号排列有误!!!!!!]1. C2. B3. A4. A5. B6. A7. D8. B9. A 10. D 11. B12. A 13. A14.B 15.B 16.B 17.C 18. C 19. C 20. D 21. C 22. A 23.C 24.D25.A 26.B 27. A 28. B 29.C 30. C 31.D 32. C 33. D 34. D 35. C 36.C 37.B 38.C 39.D 40. B41B 42. B 43. A 44. D 45. B 46. D 47. D 48.A 49A 50. D 51.C 52.B 53.C 54.D 55. A 56. A 57. D 58. B59. B60.A 61. A 62. A 63.B 64. D 65. D 66. B 67. B 68. B 69. B 70.D71. A 72.D 73.B 74. A 75.B 76.A 77.C 78.C 79.D 80. A 81.B 82. D 83.C 84. C 85.D 86. C 87. C 88. C 89. A90. C 91. B92. A 93. C 94.A 95. C 96.C 97. C 98. C 99. B 100. A 101. D 102.A 103. A 104.C 105. A 106. C 107. D 108. D 109. A110.B 111. C112.D 113. A 114. A 115. C 116. D 117. C 118. B 119. B 120. D 121.D 122. C123. B 124. B 125. C 126. C 127. B 128.B二、判断改错题1.(√)2.(×)在李嘉图模型中,比较优势和比较成本这两个概念可以任意替换使用,但在更广泛的范围内,比较优势不等同于比较成本,前者是根据商品相对价格的比较确定的,而后者是指生产成本的相对差异。
国际经济学习题答案
国际经济学习题答案第一章国际贸易理论的微观基础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:参见教材中第一章第二节(第26页)的内容,将图1-6(a)中,以横坐标表示Y商品的供给,以纵坐标表示X商品的供给,得出相应的生产可能性边界线;然后将图1-6PY/PX(b)中,以横坐标表示Y商品的供给,以纵坐标表示Y商品的相对价格,通过类似推导可得出国民供给曲线,国民需求曲线做类似推导即可求出。
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:两种商品同时达到均衡。
当一种商品达到均衡时,该商品的相对价格、均衡供给与需求、均衡状态下对生产要素的需求与供给都得以确定,则可得到另一种商品的相对价格、生产要素需求,从而确定该商品的均衡状态下供给和需求。
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:参照教材图1-12、图1-13国民供给曲线与国民需求曲线的推导;过剩供给(或需求)曲线的形状,参见教材第46-47页。
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,答案提示:相一致,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。
国际经济学作业答案
国际经济学作业答案C h a p t e r7I n t e r n a t i o n a l F a c t o r M o v e m e n t s ??Multiple Choice Questions1. Which of the following differs in its essential analytical framework?(a) International trade in goods(b) International conflict resolution(c) International trade in services(d) International trade in factors of production(e) International borrowing and lendingAnswer: B2. The slope of the production function measures(a) the physical increase in output as country grows.(b) the dollar-value increase in output as a country grows.(c) the increase in number of workers as immigration proceeds.(d) the marginal product of labor.(e) the marginal product of capital.Answer: D3. 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.Answer: E4. If the world attained a perfect Heckscher-Ohlin modelequilibrium with trade, then(a) workers in the labor abundant country would migrate to the capital abundant country.(b) workers in the labor abundant country would wish to migrate to the capital abundantcountry.(c) workers in the labor abundant country would have no desire to migrate to the capitalabundant country.(d) workers in the capital abundant country would wish to migrate to the labor abundantcountry.(e) workers in the capital abundant country would migrate to the labor abundant country. Answer: C5. During the mass migration period of late 19th-early 20th centuries,(a) wages rose in the origin countries and fell in the destination countries.(b) wages fell in the origin countries and rose in the destination countries.(c) wages generally rose faster in the origin countries.(d) wages generally rose faster in the destination countries.(e) wages generally fell faster in the origin countries.Answer: C6. 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.Answer: B7. The relative price of future consumption is(a) the interest rate.(b) unknown at any given time.(c) the real interest rate.(d) the relative interest rate.(e) None of the above.Answer: C8. 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.Answer: A9. A U.S. multinational corporation(a) has a controlling share in a foreign subsidiary and is not itself foreign controlled.(b) is foreign controlled and has no controlling share in a foreign company.(c) has a controlling share in a foreign subsidiary and may itself be foreign controlled by aforeign company.(d) is a U.S. company whose major markets are outside the United States.(e) None of the above.Answer: C10. Why a good is produced in two different countries isknown as the question of(a) internalization.(b) vertical integration.(c) exploitation.(d) location.(e) None of the above.Answer: D11. Internalization deals with the question(a) why workers prefer to work indoors(b) internationalization(c) why components are produced by one firm rather than by many.(d) Why a good is produced in two different countries(e) None of the aboveAnswer: C12. The home location of most of the world’s large multinational companies is(a) North America and Europe.(b) North America and Asia.(c) Europe and South America.(d) Europe and Asia.(e) None of the above.Answer: A13. Which of the following best refers to the outright construction or purchase abroad ofproductive facilities by domestic residents?(a) Foreign direct investment(b) Portfolio Investment(c) Short-term capital investment.(d) Long-term capital investment(e) None of the above.Answer: A14. Most direct investment in the United States has come from(a) Japan.(b) Canada.(c) Western Europe.(d) South America.(e) Asia.Answer: C15. Most U.S. direct foreign investment occurs in(a) communications.(b) agriculture.(c) petroleum.(d) manufacturing.(e) None of the above.Answer: D16. Most foreign direct investment in the United States occurs in(a) communications.(b) agriculture.(c) petroleum.(d) manufacturing.(e) None of the above.Answer: D17. Multinational corporations may provide benefits to their home countries for the followingreasons except which one?(a) Secure raw materials for the source country(b) Allow for exports of products, which involve company-specific trade secrets(c) Allow domestic firms to secure timely deliveries of commodities or products, which do notenjoy a stable or deep market internationally(d) Shift home country technology overseas via licensing(e) None of the above.Answer: D18. Trade analysis involving multinational corporations differs from our conventional tradeanalysis because multinational corporation analysis involves(a) absolute cost differentials rather than comparative cost differentials.(b) the international movement of factor inputs as well as that of finished goods.(c) purely competitive markets rather than imperfectly competitive markets.(d) portfolio investments rather than direct foreign investment.(e) None of the above.Answer: B19. Direct foreign investment may take any of the following forms except(a) 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.Answer: A20. Which of the following could logically explain why foreign direct investment might be attractedto the United States?(a) U.S. wage rates exceeding the productivity of U.S. labor(b) U.S. price ceilings that hold down the price of energy(c) Especially high price/earning ratios associated with the stock of U.S. firms(d) Anticipations of future reductions in U.S. non-tariff barriers(e) None of the above.Answer: B21. 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.Answer: A22. American labor unions have recently maintained that U.S. multinational corporations havebeen(a) exporting American jobs by investing overseas.(b) exporting American jobs by keeping investment in the United States.(c) importing cheap foreign labor by shifting U.S. investment overseas.(d) importing cheap foreign workers by keeping U.S. investment at home.(e) None of the above.Answer: A23. Multinational corporations(a) always produce primary goods.(b) always produce manufactured goods.(c) always produce services.(d) may produce primary or manufactured goods.(e) None of the above.Answer: D24. ___________ refers to highly educated and skilled people who migrate from poor developingcountries to wealthy industrial countries.(a) Direct investment(b) Portfolio investment(c) Transfer pricing(d) Brain drain(e) None of the above.Answer: D25. International labor mobility(a) leads to wage convergence by raising wages in destination country and lowering in sourcecountry.(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 destinationcountry.(e) is in accordance with scale economy model.Answer: D26. In theory, labor mobility is(a) a complete complement to trade flows.(b) a partial complement to trade flows.(c) a complete substitute for trade flows.(d) a partial substitute for trade flows.(e) None of the above.27. In practice, international labor mobility is(a) a complete complement to trade flows.(b) a partial complement to trade flows.(c) a complete substitute for trade flows.(d) a partial substitute for trade flows.(e) None of the above.Answer: D28. If one observes that Japan was traditionally a net foreign lender, one could conclude thatrelative to its international trade and financial partners(a) Japan’s inter-temporal production possibilities are biased toward future consumption.(b) Japan’s inter-temporal production possibilities are larger than that of the other countries.(c) Japan’s inter-temporal production possibilities are biased toward present consumption.(d) Japan’s inter-temporal production possibilities are not biased.(e) None of the above.29. Rapidly growing developing countries tend to be borrowers on the international capitalmarkets. From this information we may surmise that they have a comparative advantage in(a) capital goods.(b) future income.(c) disposable income.(d) consumer goods.(e) present income.Answer: B30. It may be argued that theoretically, international capital movements(a) tend to hurt the donor countries.(b) tend to hurt the recipient countries.(c) tend to hurt labor in donor countries.(d) tend to hurt labor in recipient countries.(e) None of the above.Answer: C31. Transactions between branches of the same multinational corporations account for ________of U.S. imports.(a) one quarter(b) one third(c) one half(d) three quarters(e) allAnswer: C。
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C h a p t e r7I n t e r n a t i o n a l F a c t o r M o v e m e n t s Multiple Choice Questions1. Which of the following differs in its essential analytical framework(a) I nternational trade in goods(b) I nternational conflict resolution(c) I nternational trade in services(d) I nternational trade in factors of production(e) I nternational borrowing and lendingAnswer: B2. The slope of the production function measures(a) t he physical increase in output as country grows.(b) t he dollar-value increase in output as a country grows.(c) t he increase in number of workers as immigration proceeds.(d) t he marginal product of labor.(e) t he marginal product of capital.Answer: D3. International free labor mobility will under all circumstances(a) i ncrease total world output.(b) i mprove the economic welfare of everyone.(c) i mprove the economic welfare of workers everywhere.(d) i mprove the economic welfare of landlords (or capital owners)everywhere.(e) N one of the above.Answer: E4. If the world attained a perfect Heckscher-Ohlin model equilibrium withtrade, then(a) w orkers in the labor abundant country would migrate to the capitalabundant country.(b) w orkers in the labor abundant country would wish to migrate to thecapital abundant country.(c) w orkers in the labor abundant country would have no desire to migrateto the capital abundant country.(d) w orkers in the capital abundant country would wish to migrate to thelabor abundant country.(e) w orkers in the capital abundant country would migrate to the laborabundant country.Answer: C5. During the mass migration period of late 19th-early 20th centuries,(a) w ages rose in the origin countries and fell in the destinationcountries.(b) w ages fell in the origin countries and rose in the destinationcountries.(c) w ages generally rose faster in the origin countries.(d) w ages generally rose faster in the destination countries.(e) w ages generally fell faster in the origin countries.Answer: C6. International borrowing and lending may be interpreted as one form of(a) i ntermediate trade.(b) i nter-temporal trade.(c) t rade in services.(d) u nrequited international transfers.(e) N one of the above.Answer: B7. The relative price of future consumption is(a) t he interest rate.(b) u nknown at any given time.(c) t he real interest rate.(d) t he relative interest rate.(e) N one of the above.Answer: C8. A country that has a comparative advantage in future production ofconsumption goods(a) w ill tend to be an international borrower.(b) w ill tend to have low real interest rates.(c) w ill tend to be an international investor or lender.(d) w ill tend to have good work ethics.(e) N one of the above.Answer: A9. A . multinational corporation(a) h as a controlling share in a foreign subsidiary and is not itselfforeign controlled.(b) i s foreign controlled and has no controlling share in a foreigncompany.(c) h as a controlling share in a foreign subsidiary and may itself beforeign controlled by a foreign company.(d) i s a . company whose major markets are outside the United States.(e) N one of the above.Answer: C10. Why a good is produced in two different countries is known as thequestion of(a) i nternalization.(b) v ertical integration.(c) e xploitation.(d) l ocation.(e) N one of the above.Answer: D11. Internalization deals with the question(a) w hy workers prefer to work indoors(b) i nternationalization(c) w hy components are produced by one firm rather than by many.(d) W hy a good is produced in two different countries(e) N one of the aboveAnswer: C12. The home location of most of the world’s large multinational companiesis(a) N orth America and Europe.(b) N orth America and Asia.(c) E urope and South America.(d) E urope and Asia.(e) N one of the above.Answer: A13. Which of the following best refers to the outright construction orpurchase abroad of productive facilities by domestic residents(a) F oreign direct investment(b) P ortfolio Investment(c) S hort-term capital investment.(d) L ong-term capital investment(e) N one of the above.Answer: A14. Most direct investment in the United States has come from(a) J apan.(b) C anada.(c) W estern Europe.(d) S outh America.(e) A sia.Answer: C15. Most . direct foreign investment occurs in(a) c ommunications.(b) a griculture.(c) p etroleum.(d) m anufacturing.(e) N one of the above.Answer: D16. Most foreign direct investment in the United States occurs in(a) c ommunications.(b) a griculture.(c) p etroleum.(d) m anufacturing.(e) N one of the above.Answer: D17. Multinational corporations may provide benefits to their home countriesfor the following reasons except which one(a) S ecure raw materials for the source country(b) A llow for exports of products, which involve company-specific tradesecrets(c) A llow domestic firms to secure timely deliveries of commodities orproducts, which do not enjoy a stable or deep market internationally(d) S hift home country technology overseas via licensing(e) N one of the above.Answer: D18. Trade analysis involving multinational corporations differs from ourconventional trade analysis because multinational corporation analysisinvolves(a)absolute cost differentials rather than comparative cost differentials.(b) t he international movement of factor inputs as well as that offinished goods.(c)purely competitive markets rather than imperfectly competitive markets.(d) p ortfolio investments rather than direct foreign investment.(e) N one of the above.Answer: B19. Direct foreign investment may take any of the following forms except(a) i nvestors buying bonds of an existing firm overseas.(b) t he creation of a wholly owned business overseas.(c) t he takeover of an existing company overseas.(d) t he construction of a manufacturing plant overseas.(e) N one of the above.Answer: A20. Which of the following could logically explain why foreign directinvestment might be attracted to the United States(a) . wage rates exceeding the productivity of . labor(b) . price ceilings that hold down the price of energy(c) E specially high price/earning ratios associated with the stock of .firms(d) A nticipations of future reductions in . non-tariff barriers(e) N one of the above.Answer: B21. Multinational corporations(a) i ncrease the transfer of technology between nations.(b) m ake it harder for nations to foster activities of comparativeadvantage.(c) a lways enjoy political harmony in host countries in which theirsubsidiaries operate.(d) r equire governmental subsidies in order to conduct worldwideoperations.(e) N one of the above.Answer: A22. American labor unions have recently maintained that . multinationalcorporations have been(a) e xporting American jobs by investing overseas.(b) e xporting American jobs by keeping investment in the United States.(c) i mporting cheap foreign labor by shifting . investment overseas.(d) i mporting cheap foreign workers by keeping . investment at home.(e) N one of the above.Answer: A23. Multinational corporations(a) a lways produce primary goods.(b) a lways produce manufactured goods.(c) a lways produce services.(d) m ay produce primary or manufactured goods.(e) N one of the above.Answer: D24. ___________ refers to highly educated and skilled people who migrate frompoor developing countries to wealthy industrial countries.(a) D irect investment(b) P ortfolio investment(c) T ransfer pricing(d) B rain drain(e) N one of the above.Answer: D25. International labor mobility(a) l eads to wage convergence by raising wages in destination country andlowering in source country.(b) i s in accordance with the specific factors model(c) i s in accordance with the Heckscher-Ohlin factor proportions model.(d) l eads to wage convergence by raising wages in source and lowering themin destination country.(e) i s in accordance with scale economy model.Answer: D26. In theory, labor mobility is(a) a complete complement to trade flows.(b) a partial complement to trade flows.(c) a complete substitute for trade flows.(d) a partial substitute for trade flows.(e) N one of the above.Answer: C27. In practice, international labor mobility is(a) a complete complement to trade flows.(b) a partial complement to trade flows.(c) a complete substitute for trade flows.(d) a partial substitute for trade flows.(e) N one of the above.Answer: D28. If one observes that Japan was traditionally a net foreign lender, onecould conclude that relative to its international trade and financial partners(a) J apan’s inter-temporal production possibilities are biased towardfuture consumption.(b) J apan’s inter-temporal production possibilities are larger than thatof the other countries.(c) J apan’s inter-temporal production possibilities are biased towardpresent consumption.(d) J apan’s inter-temporal production possibilities are not biased.(e) N one of the above.Answer: C29. Rapidly growing developing countries tend to be borrowers on theinternational capital markets. From this information we may surmise that they have a comparative advantage in(a) c apital goods.(b) f uture income.(c) d isposable income.(d) c onsumer goods.(e) p resent income.Answer: B30. It may be argued that theoretically, international capital movements(a) t end to hurt the donor countries.(b) t end to hurt the recipient countries.(c) t end to hurt labor in donor countries.(d) t end to hurt labor in recipient countries.(e) N one of the above.Answer: C31. Transactions between branches of the same multinational corporationsaccount for ________ of . imports.(a) o ne quarter(b) o ne third(c) o ne half(d) t hree quarters(e) a llAnswer: C32. The shift of labor-intensive assembly operations from the United Statesto Mexican maqiladora may be best explained in terms of a theory of(a) l ocation.(b) v ertical integration.(c) h orizontal integration.(d) i nternalization.(e) N one of the above.Answer: A33. When comparing the United States to the United Kingdom, between 1985 and1990, the relative growth of foreign-owned firms in manufacturing(a) g rew faster in the ., whose proportion of foreign-owned firms islarger.(b) g rew faster in the ., whose proportion of foreign-owned firms islarger.(c) g rew faster in the ., whose proportion of foreign-owned firms issmaller.(d) g rew faster in the ., whose proportion of foreign-owned firms issmaller.(e) N one of the above.Answer: C34. The inflow of foreign direct investment into the United States has alwaysbeen perceived(a) w ith trepidation.(b) w ith resentment.(c) w ith equanimity.(d) w ith satisfaction.(e) N one of the above.Answer: E35. The purchase by Germany’s Daimler-Benz of America’s Chryslercorporation is generally viewed as(a) d irect foreign investment typical of trends in the 1980s.(b) a capital outflow from the United States, since Daimler-Benz“milked” the assets of Chrysler.(c) a major success story of globalization.(d) a n example of international vertical integration.(e) N one of the above.Answer: E36. In a typical short-run production function, as labor increases(a) t he marginal product of capital decreases.(b) t he overall product of labor decreases.(c) t he average product of labor decreases.(d) t he marginal product of labor decreases.(e) N one of the above.Answer: D37. American labor unions accuse . multinational corporations of all exceptwhich(a) T hey enjoy unfair advantages in taxation.(b) T hey export jobs by shifting technology overseas.(c) T hey export jobs by shifting investment overseas.(d) T hey operate at output levels where scale economies occur.(e) N one of the above.Answer: DEssay Questions1. The Heckscher-Ohlin model is famous for being elegant and mathematicallysophisticated, yet failing to describe reality. One manifestation of this fact is Trefler’s Case of Missing Trade. Explain what exactly is missing.In what sense is it missing How would you explain why it is missing Howcan a relaxation of the identical production functions explain the caseof the missing tradeAnswer: Trefler demonstrated that the actual volume of world trade is significantly less than that which would be predicted by theHeckscher-Ohlin model. One explanation is thatNorth-South trade is especially less than would be predicted by a factor proportions model. If technologies differ in the poorer countries,then it is possible that the cost of producing a product, whichuses relatively much of their abundant factor may still be higherthan the cost of producing it in the other country.2.Factor-intensity reversals describe a situation in which the productionof a product may be land-intensive in one country, and relatively labor intensive in another (at given relative wage levels). For example, cotton may be land intensive in the ., and labor intensive in Egypt where land is relatively scarce and expensive. Suppose factor-intensity reversalswere common. How would that affect the conclusion that a country in which land is relatively scarce will not be the country witha comparative advantage in the land-intensive productAnswer: The answer here is straightforward (though it has variousinteresting implications). In this case we cannot define oridentify a product in terms of its relative factor intensity (atall or any relative wage level). Therefore, the Heckscher-OhlinTheorem is ipso-facto inapplicable.3. Why is it that North-South trade in manufactures seems to be consistentwith the results or expectations generated by the factor-proportionstheory of international trade, whereas North-North trade is notAnswer: There is a clear difference in relative factor availabilities between North and South countries, no matter how we define andmeasure the factors of production. Hence, the factor-proportionstheory of trade may be sensibly expected to explain the pattern(though not the volume) of trade between these two groups ofcountries. However, the North North trade partners do not varysignificantly in their relative factor availabilities, so thatother forces, such as scale economies play a relatively large rolein determining trade patterns.4. One of the commonly used assumptions in deriving the Heckscher-Ohlinmodel is that tastes are homothetic, or that if the per capita incomeswere the same in two countries, the proportions of their expendituresallocated to each product would be the same as it is in the other country.Imagine that this assumption is false, and that in fact, the tastes ineach country are strongly biased in favor of the product in which it hasa comparative advantage. How would this affect the relationship betweenrelative factor abundance between the two countries, and the nature(factor-intensity) of the product each exports What if the taste biasfavored the imported goodAnswer: If in fact national tastes were strongly biased in favor of the product in which the country enjoyed a comparative advantage, thenwe would expect a bias in favor of rejecting the Heckscher-OhlinTheorem in actual trade data. The engine driving the H-O model isthat a country should be expected to have a relatively low cost ofproducing the good in which it has a comparative advantage.However, the respective demand forces would tend to raise theprice of this good, so that the expected pattern would notgenerally be observed. However, if the tastes were biased in favorof the imported good, then the predictions of the Heckscher-OhlinTheorem would be expected to be generally observed.5. Why do you suppose that South-South trade does not conform in volume, butdoes conform in pattern with expectations generated by the Heckscher-Ohlin modelAnswer: The pattern of trade is generally observed to conform to the Heckscher-Ohlin models expectations. That is, the developingcountries tend to export labor-intensive goods, such as textiles,and import capital-intensive goods such as machinery. The volumehowever is quite lower than what would be expected from theNeoclassical model. There are many possible reasons, such asfinancial crises necessitating premia in the financing of thistrade.6. It has been argued that even if intra-European Union labor mobility wereto be completely removed, one should not expect to observe massive, oreven large reallocations of populations with the . DiscussAnswer: Theoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) isassociated with factor price equalization; so does completely freelabor mobility. It therefore follows that if intra . tradeflourishes, as any restraints on trade there are abolished, theeconomic incentive for labor mobility will be removed. Sincelanguage and cultural differences remain, we would expectpopulations to tend to stay where they are.Quantitative/Graphing Problems1. In Home and Foreign there are two factors of production, land and labor,used to produce only one good. The land supply in each country and the technology of production are exactly the same. The marginal product of labor in each country depends on employment as follows:Number of WorkersEmployedMarginalProductof Last Worker130 229 328 427 526 625 72482392210211120Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic migration ceases, what will be the levels of production, real wages and the income of landowners in each countryAnswer: The total production in the world will increase, since the addition to production (the marginal product of labor) in thetarget country is larger for each worker than the loss ofproduction (also the marginal product of workers) in theemigration country. The real wages will rise in the emigrationcountry and fall in the immigration country. Landlord incomes willrise in the immigration country and fall in the emigration country.2. Suppose Australia, a land (K)-abundant country and Sri-Lanka, a labor(L)-abundant country both produce labor and land intensive goods with thesame technology. Following the logic of the Heckscher-Ohlin model fromChapter 4, what will be the incentive for migration once trade isestablished between these two countries Now, suppose that a tariff by one country creates an incentive for labor migration. From which country to which country will be the migration Explain how you arrived at youranswer.Answer: Once trade is established, there is no longer any incentive for (economic-based) immigration, since the real wages will beequalized in both. If a tariff is established in Australia, thenthe price of the labor intensive good will be higher in Australia,as will be the marginal product of labor and hence the real wageof workers there. Hence, workers will immigrate from Sri-Lanka toAustralia until the two domestic prices are equalized.3. Use the diagram below derived from Figure 4-4 to identify the pre-tradesituation for Australia and Sri-Lanka, as discussed in question 2 above.Where on the K/L axis will you find each of the two countries Which ofthe two countries has a higher relative wage, w/r Which product is thelabor intensive, and which is the land intensive one Show where therelative price of cloth to food will be found once trade opens betweenthese two countries. Show where the relative wages of each will appear.Answer: You will find Sri-Lanka to the left of Australia on the K/L axis.Australia has a higher relative wage.Food is the land intensive product.The relative price P C /P F is found between the two autarkic prices.The post trade relative wage is between the two autarkic ones onthe vertical axis.4. Using the figure above from question 3, demonstrate what happens to thecomposition of production (that is quantity of cloth per 1 unit of food) in Australia once trade is established between the two countries. Which country will export cloth What happens to the relative income of workers in Australia as a result of trade Does it increase or decrease Would land owners in Australia lobby for or against free trade Would land owners in Australia lobby for or against free admittance of immigrant workersAnswer: The proportion of food to cloth will increase in the production of Australia Sri Lanka will export cloth. The relative (and real)incomes of workers will fall in Australia as a result of trade.Land Owners in Australia should lobby in favor of trade. Theywould also lobby for free labor mobility (of workers intoAustralia), since the marginal product of labor is high, theowners of land have much (Ricardian) rents to gain from an inflowof workers.5. Imagine that the relative capital abundance of Australia was so muchgreater than that of Sri-Lanka, that we would have to locate Australiafar to the right on the K/L axis. If this were so far to the right that there was no area of overlap on the w/r axis, then what product wouldAustralia export Is this answer different from that in question 4 above Will the relative wages as calculated now be the same or different from those calculated in question 4Answer: Australia would still export food, which is the same as inquestion 4. As a result of trade, wages will fall in Australia andwill rise in Sri-Lanka. However, in this case, the wages inAustralia will remain higher than in Sri-Lanka, creating anincentive for migration from the latter to the former country.。