萨尔瓦多国际经济学习题_Quiz-All

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国际经济学(多米尼克萨瓦尔多)课后答案

*CHAPTER 2(Core Chapter)COMPARATIVE ADVANTAGEANSWERS TO REVIEW QUESTIONS AND PROBLEMS1. The mercantilists believed that the way for a nation to become rich and powerful was toexport more than it imported. The resulting export surplus would then be settled by an inflow of gold and silver and the more gold and silver a nation had, the richer and more powerful it was. Thus, the government had to do all in its power to stimulate th e nation’s exports and discourage and restrict imports. However, since all nations could not simultaneously have an export surplus and the amount of gold and silver was fixed at any particular point in time, one nation could gain only at the expense of other nations. The mercantilists thus preached economic nationalism, believing that national interests were basically in conflict.Adam Smith, on the other hand, believed that free trade would make all nations better off.All of this is relevant today because many of the arguments made in favor of restricting international trade to protect domestic jobs are very similar to the mercantilists arguments made three or four centuries ago. That is why we can say that “mercantilism is alive and well in the twenty-fi rst century”. Thus we have to be prepared to answer anddemonstrate that these arguments are basically wrong.2. According to Adam Smith, the basis for trade was absolute advantage, or one country beingmore productive or efficient in the production of some commodities and other countries being more productive in the production of other commodities.The gains from trade arise as each country specialized in the production of the commodities in which it had an absolute advantage and importing those commodities in which the nation had an absolute disadvantage.Adam Smith believed in free trade and laissez-faire, or as little government interference with the economic system as possible. There were to be only a few exceptions to this policy of laissez-faire and free trade. One of these was the protection of industries important for national defense.3. Ricardo’s law of comparative advantage is superior to Smith’s theory of absolute advantagein that it showed that even if a nation is less efficient than or has an absolute disadvantage in the production of all commodities with respect to the other nations, there is still a basis forbeneficial trade for all nations.The gains from trade arise from the increased production of all commodities that arises when each country specializes in the production of and exports the commoditiesof its comparative advantage and imports the other commodities.A nation that is less efficient than others will be able to export the commodities of itscomparative advantage by having its wages and other costs sufficiently lower than in othernations so as to make the commodities of its comparative advantage cheaper in terms of the same currency with respect to the other nations.4. a. In case A, the United States has an absolute and a comparative advantage in wheat andthe United Kingdom in cloth. In case B, the United States has an absolute advantage (so that the United Kingdom has an absolute disadvantage) in both commodities. In case C, theUnited States has an absolute advantage in wheat but has neither an absolute advantage nor disadvantage in cloth. In case D, the United States has an absolute advantage over theUnited Kingdom in both commodities.b. In case A, the United States has a comparative advantage in wheat and the UnitedKingdom in cloth. In case B, the United States has a comparative advantage in wheat and the United Kingdom in cloth. In case C, the United States has a comparative advantage in wheat and the United Kingdom in cloth. In case D, the United States and the United Kingdom havea comparative advantage in neither commodities.5. a. The United States gains 1C.b. The United Kingdom gains 4C.c. 3C < 4W < 8C.d. The United States would gain 3C while the United Kingdom would gain 2C.6. a. The cost in terms of labor content of producing wheat is 1/4 in the United States and 1 inthe United Kingdom, while the cost in terms of labor content of producing cloth is 1/3 in the United States and 1/2 in the United Kingdom.b. In the United States, Pw=$1.50 and Pc=$2.00.c. In the United Kingdom, Pw=£1.00 and Pc=£0.50.7. The United States has a comparative disadvantage in the production of textiles. Restrictingtextile imports would keep U.S. workers from eventually moving into industries in which the United States has a comparative advantage and in which wages are higher.8. Ricardo’s explanation of the law of comparative is unacceptable because it is based on thelabor theory of value, which is not an acceptable theory of value.The explanation of the law of comparative advantage can be based on the opportunity cost doctrine, which is an acceptable theory of value.9. The production possibilities frontier reflects the opportunity costs of producing bothcommodities in the nation.The production possibilities frontier under constant costs is a (negatively sloped) straight line.The absolute slope of the production possibilities frontier reflects or gives the price of the commodity plotted along the horizontal axis in relation to the commodity plotted along the vertical axis.10. a. See Figure 1.1.b. In the United States Pw/Pc=3/4, while in the United Kingdom, Pw/Pc=2.c. In the United States Pc/Pw=4/3, while in the United Kingdom Pc/Pw=1/2.d. See Figure 1.2.The autarky points are A and A' in the United States and the United Kingdom, respectively.The points of production with trade are B and B' in the United States and the United Kingdom, respectively.The points of consumption are E and E' in the United States and the United Kingdom, respectively. The gains from trade are shown by E > A for the U.S. and E' > A' for the U.K.ANSWERS TO REVIEW QUESTIONS AND PROBLEMS1. a. Increasing opportunity costs arise because resources or factors of production are nothomogeneous (i.e., all units of the same factor are not identical or of the same quality) and not used in the same fixed proportion or intensity in the production of all commodities.This means that as the nation produces more of a commodity; it must utilize resources that become progressively less efficient or less suited for the production of that commodity. As a result, the nation must give up more and more of the second commodity to release justenough resources to produce each additional unit of the first commodity (i.e., it facesincreasing costs).b. In the real world, the production frontiers of different nations will usually differ becauseof differences in factor endowments and technology.2. a. See Figure3.1.b. The slope of the transformationcurve increases as the nationproduces more of X and decreasesas the nation produces more of Y.These reflect increasingopportunity costs as the nationproduces more of X or Y.3. a. See Figures 3.2a and 3.2b.b. Nation 1 has a comparative advantage in X and Nation 2 in Y.c. If the relative commodity price line in autarky has equal slope in both nations. This is rare.4. a. See Figures 3.3a and 3.3 b. Points B and B’ are the production points in Nations 1 and 2,respectively, with specialization and trade and E and E’ are the consumption points.b. Nation 1 gains by the amount by which community indifference curve III (point E) isabove indifference curve I (point A). Nation 2 gains to the extent that community indifference curve III’ (point E’) is above indifference curve I’ (point A).5. a. The equilibrium-relative commodity price in isolation is the relative price that prevailsin the nation without trade or in autarky.b. The equilibrium-relative commodity price in isolation for the commodity plotted alongthe horizontal axis is given by the (absolute) slope of the tangent of the production frontier and the community indifference curve at the point of production and consumption in thenation in isolation.c. The nation with the lower equilibrium relative commodity price in isolation or autarkyhas a comparative advantage in the commodity measured along the commodity axis and a comparative disadvantage in the commodity measured along the vertical axis.6. a. Nation 1 is better off at point E’ than at point A’ because point E’ is on higher communityindifference curve III than at point A, which is on lower community indifference curve I.b. Nation 1 consumes less of commodity Y at point E’ (40Y) than at point A’ (60Y) becauseP Y/P X is much higher at point E’ (P B’ =1) than at point A’ (P A’ =1/4, the inverse of P X/P Y=4).7. a. The reason for incomplete specialization under increasing costs is that as each nationspecializes in the production of the commodity of its comparative advantage, the relative commodity price in each nation moves toward each other (i.e., become less unequal) until they are identical in both nations. At that point, it does not pay for either nation to continue to expand the production of the commodity of its initial comparative advantage. This occurs before either nation has completely specialized in production.b. Under constant costs, each nation specializes completely in production of thecommodity of its comparative advantage (i.e., produces only that commodity). The reason is that since it pays for the nation to obtain some of the commodity of its comparativedisadvantage from the other nation, then it pays for the nation to get all of the commodity of its comparative disadvantage from the other nation (i.e., to specialize completely in the production of the commodity of its comparative advantage).8. See Figure 3.5 (Please disregard Figure 3.4, which shows how to derive the demand andsupply curve for commodity X for Nation 1 and Nation 2 that are used to show how theequilibrium relative commodity price is determined with trade – a topic that is covered inAppendix A3.1.Nations 1 and 2 have identical production frontiers (shown by a single curve) but different tastes (indifference curves). In isolation, Nation 1 produces and consumes at point A and Nation 2 at point A’. Since P A < P A’, Nation 1 has a comparative advantage in X and Nation2 in Y.With trade, Nation 1 specializes in the production of X and produces at B, while Nation 2 specializes in Y and produces at B’ (which coincides with B). By exchanging BC = C’E’ of X for CE = C’B of Y with each other (see trade triangles BCE and B’C’E’), Nation 1 ends up consuming at E on indifference curve III (higher than indifference curve I at point A) and Nation 2 consumes at on indifference curve III’ (higher than indifference curve I’ at po int A’).9. a. If the terms of trade of a nation improved from 100 to 110 over a given period of time, theterms of trade of the trade partner would deteriorate by about 9 percent over the same period of time [(100-110)/110 = -0.09 =0.9%].b. A deterioration in the terms of trade of the trade partner can be said to be unfavorable to thetrade partner because the trade partner must pay a higher price for its imports in terms of its exports.c. This does not necessarily mean that the welfare of the trade partner has decreased becausethe deterioration in its terms of trade may have resulted from an increase in productivity that is shared with the other nation.10. It is true that Mexico's wages are much lower than U.S. wages (they are about one fifth of theaverage wage in the United States), but labor productivity is much higher in the United Statesand so labor costs are not necessarily higher than in Mexico. In any event, trade can still be based on comparative advantage.*CHAPTER 4(Core Chapter)THE HECKSCHER-OHLIN AND OTHER TRADE THEORIES ANSWERS TO REVIEW QUESTIONS AND PROBLEMS1. a. The Heckscher–Ohlin (H-0) theorem postulates that a nation will export thosecommodi ties whose production requires the intensive use of the nation’s relativelyabundant and cheap factor and import the commodities whose production requires theintensive use of the nation’s relatively scarce and expensive factor. In short, the relatively labor-rich nation exports relatively labor-intensive commodities and imports the relatively capital-intensive commodities.b. Heckscher and Ohlin identify the relative difference in factor endowments amongnations as the basic determinant of comparative advantage and international trade.c. The H-O Theory represents an extension of the standard trade model because itexplains the basis for comparative advantage (classical economists, such as Ricardo hadassumed it) and examines the effect of international trade on factor prices and incomedistribution (which classical economists had left unanswered).2. See Figure 4.1.3. a. The factor–price equalization theorem postulates that international trade will bringabout the equalization of the returns to homogeneous or identical factors across nations.b. The Stopler-Samuelson theorem postulates that free international trade reduces the realincome of the nation’s relatively scarce factor and increases the real income of the nation’s relatively abundant factor.c. The specific-factors model postulates that the opening of trade (1) benefits the specificfactor used in the production of t he nation’s export commodity, (2) harms the specific factor used in the production of the nation’s import-competing industry, and (3) leads to anambiguous effect (i.e., it may benefit or harm) the mobile factor.d. Trade acts as a substitute for the international mobility of factors of production in itseffect on factor prices. With perfect mobility, labor would migrate from the low-wagenation to the high-wage nation until wages in the two nations are equalized. Similarly,capital would move from the low-interest to the high-interest nation until the rate ofinterest was equalized in the two nations.4. a. The Leontief paradox refers to the original Leontief’s finding that U.S. importsubstitutes were more K-intensive than U.S. exports. This was the opposite of what the H-O theorem postulated.b. The Leontief paradox was resolved by including human capital into the calculationsand excluding industries based on natural resources. Recent research using data on many sectors, for many countries, over many years, and considering that countries couldspecialize in a particular subset or group of commodities that were best suited to theirspecific factor endowments, provides strong support for the H-O theorem.c. The Hecksher-Olhin theory remains the centerpiece of modern trade theory for explaininginternational trade today. To be sure, there are other forces (such as economies of scale,product differentiation, and technological differences across countries) that provide additional reasons and explanations for some international trade not explained by the basic H-O model.These other trade theories complement the basic H-O model in explaining the pattern ofinternational trade in the world today.5. International trade with developing economies, especially newly industrializing economies(NIEs), contributed in two ways to increased wage inequalities between skilled and unskilled workers in the United States during the past two decades. Directly, by reducing the demand for unskilled workers as a result of increased U.S. imports of labor-intensive manufactures and, indirectly, by speeding up the introduction of labor-saving innovations, which furtherreduced the U.S. demand for unskilled workers. International trade, however, was only asmall cause of increased wage inequalities in the United States. The most important causewas technological change.6. a. Economies of scale refer to the production situation where output grows proportionatelymore than the increase in inputs or factors of production. For example, output may morethan double with a doubling of inputs.b. Even if two nations were identical in every respect, there is still a basis for mutuallybeneficial trade based on economies of scale. When each nation specializes in theproduction of one commodity, the combined total world output of both commodities will be greater than without specialization when economies of scale are present. With trade, each nation then shares in these gains.c. The new international economies of scale refers to the increase in productivity resultingfrom firms purchasing parts and components from nations where they are made cheaper and better, and by establishing production facilities abroad.7. a. Product differentiation refers to products that are similar, but not identical.Intra-industry trade refers to trade in differentiated products, as opposed to inter-industry trade in completely different products.b. Intra-industry trade arises in order to take advantage of important economies of scale inproduction. That is, with intra-industry trade each firm or plant in industrial countries can specialize in the production of only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles of a product and achieve economies of scale.c. With few varieties and styles, more specialized and faster machinery can be developedfor a continuous operation and a longer production run. The nation then imports othervarieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices (i.e., the greater variety of differentiated products) available at the lower prices made possible by economies of scale in production.*CHAPTER 5(Core Chapter)TRADE RESTRICTIONS: TARIFFSANSWERS TO REVIEW QUESTIONS AND PROBLEMS1. a. See Figure 5.1.b. Consumption is 70X, production is 50X and imports are 20X.c. The consumption effect is –30X, the production effect is +30X, the trade effect is –60X,and the revenue effect is $30 (see Figure 5.1).2. a. The consumer surplus is $250 without and $l22.50 with the tariff (see Figure 5.1).b. Of the increase in the revenue of producers with the tariff (as compared with theirrevenues under free trade), $22.50 represents the increase in production costs and another $22.50 represents the increase in rent or producer surplus (see Figure 5.1).c. The dollar value or the protection cost of the tariff is $45 (see Figure 5.1).3.The dollar value or the protection cost of the tariff is $45 (see Figure 5.2).4.The dollar value or the protection cost of the tariff is $45 (see Figure5.3).5. The optimum tariff is the tariff that maximizes the net benefit resulting from theimprovement in the nation’s terms of trade against the negative effect resulting fromreduction in the volume of trade.6. a. When a nation imposes an optimum tariff, the trad e partner’s welfare declines becauseof the lower volume of trade and the deterioration in its terms of trade.b. The trade partner is likely to retaliate and in the end both nations are likely to losebecause of the reduction in the volume of trade.7. Even when the trade partner does not retaliate when one nation imposes the optimum tariff,the gains of the tariff-imposing nation are less than the losses of the trade partner, so thatthe world as a whole is worse off than under free trade. It is in this sense that free trademaximizes world welfare.8. a. The nominal tariff is calculated on the market price of the product or service. The rateof effective protection, on the other hand, is calculated on the value added in the nation. It is equal to the value of the price of the commodity or service minus the value of theimported inputs used in the production of the commodity or service.b. The nominal tariff is important to consumers because it determines by how much theprice of the imported commodity increases. The rate of effective protection is important for domestic producers because it determines the actual rate of protection provided by thetariff to domestic processing.9. a. Rates of effective protection in industrial nations are generally much higher than thecorresponding nominal rates and increase with the degree of processing.b. The tariff structure of developed nations is of great concern for developing nationsbecause it discourages manufacturing production in developing nations.10. If a nation reduces the nominal tariff on the importation of the raw materials required toproduce a commodity but does not reduce the tariff on the importation of the finalcommodity produced with the imported raw material, then the effective tariff rates willincrease relative to the nominal tariff rate on the commodity.*CHAPTER 6(Core Chapter)NONTARIFF TRADE BARRIERS ANDTHE POLITICAL ECONOMY OF PROTECTIONISMANSWERS TO REVIEW QUESTIONS AND PROBLEMS1. a. An import quota will increase the price of the product to domestic consumers, reducethe domestic consumption of the good, increase domestic production, and result in aprotection or deadweight loss to the economy.b. The effects of an import quota are identical to those of an equivalent import tariff,except that with a quota the government does not collect a tariff revenue (unless it auctions off import quotas to the highest bidder). The import quota is also more restrictive than an equivalent import tariff because foreign producers cannot increase their exports bylowering their prices.2.By penciling in D”X in Figure 1, we can see that the effects of the import quota are:P x=$2.00 and consumption is 60X, of which 40X are produced domestically and 20X areimported; by auctioning off import licenses, the revenue effect would be $20.3.The effects of an export quota of 20X are identical to those of an import quota of 20X or a100 percent import tariff on commodity X, except that the revenue effect is collected by the exporters, rather than by the domestic importers or their government.7. a. The infant-industry argument postulates that temporary protection may be justified inorder to allow a developing nation to develop an industry in which it has a potentialcomparative advantage. Temporary trade protection is then justified to establish and protect the domestic industr y during its “infancy” until it can grow and meet foreign competition.For this argument to be valid, however, protection must be temporary and the return in the grown-up industry must be sufficiently high to also offset the higher prices paid bydomestic consumers of the commodity during the period of infancy.b. The infant-industry argument must be qualified in several important ways to beacceptable. First, this argument is more justified for developing nations (where capitalmarkets may not function properly) than for industrial nations. Second, it is usuallydifficult to identify which industry or potential industry qualifies for this treatment, andexperience has shown that protection, once given, is difficult to remove. Third, and most important, what trade protection (say in the form of an import tariff) can do, an equivalent production subsidy to the infant industry can do better.8. a. According to strategic industrial trade policy a nation can create a comparativeadvantage (through temporary trade protection, subsidies, tax benefits, and cooperativegovernment–industry programs) in a high-technology field deemed crucial to future growth in the nation.b. There are also serious difficulties in carrying strategic industrial and trade policies.First, it is extremely difficult to pick winners (i.e., choose the industries that will contribute significantly to growth in the future). Second, if most leading nations undertake strategictrade policies at the same time, their efforts are largely neutralized. Third, when a country does achieve substantial success with a strategic trade policy, this comes at the expense of other countries (i.e., it is a beggar-thy-neighbor policy), which are, therefore, likely to retaliate. Faced with all these practical difficulties, even supporters of strategic trade policy grudgingly acknowledge that free trade is still the best policy, after all.*CHAPTER 7(Core Chapter)ECONOMIC INTEGRATIONANSWERS TO REVIEW QUESTIONS AND PROBLEMS1.If Nation A imposes a 100 percent ad valorem tariff on imports of commodity X fromNation B and Nation C, Nation A will produce commodity X domestically because thedomestic price of commodity X is $10 as compared with the tariff-inclusive price of $16 if Nation A imported commodity X from Nation B and $12 if Nation A imported commodity X from nation C.2. a. If Nation A forms a customs union with Nation B, Nation A will import commodity Xfrom Nation B at the price of $8 instead of producing it itself at $10 or importing it fromNation C at the tariff-inclusive price of $12.b. The formation by Nation A of a customs union with Nation B leads to trade creationonly because Nation A replaces the domestic production of commodity X at Px=$10 with tariff-free imports of commodity X from Nation B at Px=$8.3.If Nation A imposes a 50 percent ad valorem tariff on imports of commodity X fromNation B and Nation C, Nation A will import commodity X from nation C at thetariff-inclusive price of $9 instead of producing commodity X itself or importing it from Nation B at the tariff-inclusive price of $12.4. a. If Nation A forms a customs union with Nation B, Nation A will import commodity Xfrom Nation B at the price of $8 instead of importing it from Nation C at the tariff-inclusive price of $9.b. The formation by Nation A of a customs union with Nation B leads not only to tradecreation but also to trade diversion because it replaces lower-cost imports of commodity X of $6 (from the point of view of Nation A as a whole) with higher priced imports ofCommodity X from Nation B at $8.Specifically, Nation A's importers do not import commodity X from Nation C because the tariff-inclusive price of commodity X from Nation C is $9 as compared with the no-tariff price of $8 for imports of commodity X from Nation B. However, since the government of Nation A collects the $3 tariff per unit on imports of commodity X fromNation C, the net effective price for imports of commodity X from Nation C is really $6 for Nation A as a whole.5. a. See Figure 7.1.b. The net gain from the trade-diverting customs union shown in Figure 1 is given byC'JJ'+B'HH'-MJ'H'N. As contrasted with the case in Figure 7-1 in the text, however, the sum of the areas of the two triangles (measuring gains) is here greater than the area therectangle (measuring the loss). Thus, the nation would now gain from the formation of acustom union. Had we drawn the figure on graph paper, we would have been able tomeasure the net gain in monetary terms also.6. A customs union that leads to both trade creation and trade diversion is more likely to leadto a net positive welfare gain of the nation joining the union (1) the smaller is the relative inefficiency of the union member in relation to the non-union member and (2) the higher is the level of the tariff imposed by the customs union on the non-union member.7.The dynamic benefits resulting from the formation of a customs union are (1) increasedcompetition, (2) economies of scale, (3) stimulus to investment, and (4) better utilization of economic resources. These are likely to be much more significant than the static benefits.8.See Figure 7.2. The formation of the customs union has no effect.。

ch04 国际经济学课后答案与习题(萨尔瓦多)

*CHAPTER 4(Core Chapter)THE HECKSCHER-OHLIN AND OTHER TRADE THEORIESOUTLINE4.1 Introduction4.2 Factor Endowments and the Heckscher-Ohlin Theory4.3 The Formal Heckscher-Ohlin ModelCase Study 4-1 The Revealed Comparative Advantage of Various Countries and Regions4.4 Factor-Price Equalization and Income DistributionCase Study 4-2 Has International Trade Increased U.S. Wage Inequalities?4.5 Empirical Tests of the Heckscher-Ohlin Theory4.6 Economies of Scale and International TradeCase Study 4-3 The New International Economies of Scale4.7 Trade Based on Product DifferentiationCase Study 4-4 Growth of Intra-Industry Trade4.8 Technological Gap and Product Cycle ModelsCase Study 4-5: The United States as the Most Competitive Economy in the World4.9 Transportation Costs and International Trade4.10 Environmental Standards and International TradeAppendix The Specific-Factors Model and Intra-Industry Trade ModelsA4.1 The Specific-Factors ModelA4.2 A Model of Intra-Industry TradeKey TermsInternationalofscaleeconomies pricesRelativefactorproducts Heckscher–Ohlin (H–O) theory DifferentiatedtradeIntra-industryHeckscher–Ohlintheorem(H–O)Factor-proportions or factor-endowment theory Technological gap modelcyclemodelProductFactor–price equalization theoremcostsTransportationStolper-Samuelsontheoremmodel Nontraded goods and services Specific-factorsparadox Environmental standardsLeontiefMonopolisticcompetitionscalereturnsIncreasingtoLecture Guide1. This is one of the most important and difficult chapters in the book. It is also a long chapter andrequires four lectures to cover adequately.2. In the first lecture, I would cover sections 1-3. Section 3 is one of the most important sections inthe book because it presents the H-O model. I would proceed slowly and carefully in explaining Figure 4.1 and compare it to the standard trade model of Figure 3.4.3. In the second lecture, I would cover sections 4 and 5. Section 4 on the factor-price equalizationtheorem and income distribution is a difficult section. Case Study 4-2 should be of great interest to the students and give rise to a great deal of class discussion.4. In third lecture, I would cover sections sections 6-7, paying a great deal of attention to section 7on trade in differentiated products.5. In fourth lecture, I would cover the rest of the chapter.Answers to Review Questions and Problems1. a. The Heckscher–Ohlin (H-0) theorem postulates that a nation will export those commodi- ties whose production requires the intensive use of the nation’s relatively abundant and cheap factor and import the commodities whose production requires the intensive useof the nation’s relatively scarce and expensive factor. In short, the relatively labor-richnation exports relatively labor-intensive commodities and imports the relativelycapital-intensive commodities.b. Heckscher and Ohlin identify the relative difference in factor endowments amongnations as the basic determinant of comparative advantage and international trade.c. The H-O Theory represent an extension of the standard trade model because it explains the basis for comparative advantage (classical economists, such as Ricardo had assumed it) and examines the effect of international trade on factor prices and income distribution (which classical economists had left unanswered).2. See Figure 1 on the next page.3. a. The factor–price equalization theorem postulates that international trade will bring about the equalization of the returns to homogeneous or identical factors across nations.b. The Stopler-Samuelson theorem postulates that free international trade reduces the realincome of the nation’s relatively scarce factor and increases the real income of the nation’s relatively abundant factor.Fig 4.1Fig 4.2XXb. The specific-factors model postulates that the opening of trade (1) benefits the specific factorused in the production of the nation’s export commodity, (2) harms the specific factor used in the production of the nation’s import-competing industry, and (3) leads to an ambiguouseffect (i.e., it may benefit or harm) the mobile factor.c. Trade acts as a substitute for the international mobility of factors of production in itseffect on factor prices. With perfect mobility, labor would migrate from the low-wagenation to the high-wage nation until wages in the two nations are equalized. Similarly,capital would move from the low-interest to the high-interest nation until the rate ofinterest was equalized in the two nations.4. a. The Leontief paradox refers to the original Leontief’s finding that U.S. import substituteswere more K-intensive than U.S. exports. This was the opposite of what the H-O theorempostulated.b. The Leontief paradox was resolved by including human capital into the calculations andexcluding industries based on natural resources. Recent research using data on many sectors, for many countries, over many years, and considering that countries could specialize in aparticular subset or group of commodities that were best suited to their specific factorendowments, provides strong support for the H-O theorem.c. The Hecksher-Olhin theory remains the centerpiece of modern trade theory for explaininginternational trade today. To be sure, there are other forces (such as economies of scale,product differentiation, and technological differences across countries) that provide additional reasons and explanations for some international trade not explained by the basic H-O model.These other trade theories complement the basic H-O model in explaining the pattern ofinternational trade in the world today.5. International trade with developing economies, especially newly industrializing economies (NIEs), contributed in two ways to increased wage inequalities between skilled and unskilled workers in the United States during the past two decades. Directly, by reducing the demand for unskilledworkers as a result of increased U.S. imports of labor-intensive manufactures and, indirectly, byspeeding up the introduction of labor-saving innovations, which further reduced the U.S.demand for unskilled workers. International trade, however, was only a small cause of increased wage inequalities in the United States. The most important cause was technological change.6. a. Economies of scale refer to the production situation where output grows proportionatelymore than the increase in inputs or factors of production. For example, output may morethan double with a doubling of inputs.b. Even if two nations were identical in every respect, there is still a basis for mutually bene-ficial trade based on economies of scale. When each nation specializes in the production of one commodity, the combined total world output of both commodities will be greater thanthan without specialization when economies of scale are present. With trade, each nationthen shares in these gains.c. The new international economies of scale refers to the increase in productivity resultingfrom firms purchasing parts and components from nations where they are made cheaperand better, and by establishing production facilities abroad-26-7. a. Product differentiation refers to products that are similar, but not identical. Intra-industrytrade refers to trade in differentiated products, as opposed to inter-industry trade incompletely different products.b. Intra-industry trade arises in order to take advantage of important economies of scale inproduction. That is, with intra-industry trade each firm or plant in industrial countries canspecialize in the production of only one, or at most a few, varieties and styles of the sameproduct rather than many different varieties and styles of a product and achieve economies of scale.c. With few varieties and styles, more specialized and faster machinery can be developedfor a continuous operation and a longer production run. The nation then imports othervarieties and styles from other nations. Intra-industry trade benefits consumers because ofthe wider range of choices (i.e., the greater variety of differentiated products) available atthe lower prices made possible by economies of scale in production.8. a. According to the technological gap model, a firm exports a new product until imitators incountries take away its market. In the meantime, the innovating firm will have introduced a new product or process.b. The criticism of the technological gap model are that it does not explain the size of techno- logical gaps and does not explore the reason for technological gaps arising in the first place, or exactly how they are eliminated over time.c. The five stages of the product cycle model are: the introduction of the product, expansion of production for export, standardization and beginning of production abroad through imitation, foreign imitators underselling the nation in third markets, and foreigners underselling theinnovating firms in their home market as well.9. See Figure 2 on page 25.10. A nation with lower environmental standards can use the environment as a resource endow-ment or as a factor of production in attracting polluting firms from abroad and achieving acomparative advantage in the production of polluting goods and services. This can lead totrade disputes with nations with more stringent environmental standards.-27-Multiple-Choice Questions1. The H-O model extends the classical trade model by:a. explaining the basis for comparative advantageb. examining the effect of trade on factor prices*c. both a and bd. neither a nor b2. A nation is said to have a relative abundance of K if it has a:a. greater absolute amount of Kb. smaller absolute amount of Lc. higher L/K ratio*d. lower price of K in relation to the price of L3. A difference in relative commodity prices between nations can be based on a difference in:a. technologyb. factor endowmentsc. tastes*d. all of the above4. In the H-O model, international trade is based mostly on a difference in:a. technology*b. factor endowmentsc. economies of scaled. tastes5. According to the H-O theory, trade reduces international differences in:a. commodity pricesb. in factor prices*c. both commodity and factor pricesd. neither relative nor absolute factor prices6. According to the Stolper-Samuelson theorem, international trade leads toa. reduction in the real income of the nation’s relatively abundant factor*b. reduction in the real income of the nation’s relatively scarce factorc. increase in the real income of the nation’s relatively scarce factord. none of the above7. Which of the following is false with regard to the specific factors theorem, international trade *a. harms the immobile factors that are specific to the nation’s export commodities or sectorsb. harms the immobile factors that are specific to the nation’s import-competing commoditiesc. has an ambiguous effect on the nation’s mobile factorsd. may benefit or harm the nation’s mobile factors8. Perfect international mobility of factors of productiona. leads to a reduction in international differences in the returns to homogenous factorsb. acts as a substitute for international trade in its effects on factor pricesc. operates on the supply of factors in affecting factor prices*d. all of the above9. The Leontief paradox refers to the empirical finding that U.S.*a. import substitutes were more K-intensive than exportsb. exports were more L-intensive than importsc. exports were more K-intensive than import substitutesd. all of the above10. From empirical studies, we conclude that the H-O theory:a. must be rejectedb. must be accepted without reservations*c. can generally be acceptedd. explains all international trade11. International trade can be based on economies of scale even if both nations have identical:a. factor endowmentsb. tastesc. technology*d. all of the above12. A great deal of international trade:a. is intra-industry tradeb. involves differentiated productsc. is based on monopolistic competition*d. all of the above13. Intra-industry trade takes place:a. because products are homogeneous*b. in order to take advantage of economies of scalec. because perfect competition is the prevalent form of market organizationd. all of the above14. Which of the following statements is true with regard to the product-cycle theory?a. it depends on differences in technological changes over time among countriesb. it depends on the opening and the closing of technological gaps among countriesc. it postulates that industrial countries export more advanced products to lessadvanced countries*d. all of the above15. Transport costs:a. increase the price in the importing countryb. reduces the price in the exporting countryc. falls less heavily on the nation with the more elastic demand and supply curves of the traded commodity*d. all of the above-30-ADDITIONAL ESSAYS AND PROBLEMS FOR PART ONE1. Assume that both the United States and Germany produce beef and computer chips with the following costs:United States Germany(dollars) (marks)Unit cost of beef (B) 2 8Unit cost of computer chips (C) 1 2(a) What is the opportunity cost of beef (B) and computer chips (C) in each country?(b) In which commodity does the United States have a comparative cost advantage?What about Germany?(c) What is the range for mutually beneficial trade between the United States and Germanyfor each computer chip traded?(b) How much would the United States and Germany gain if 1 unit of beef is exchangedfor 3 chips?Answ. (a) In the United States:the opportunity cost of one unit of beef is 2 chips;the opportunity cost of one chip is 1/2 unit of beef.In Germany:the opportunity cost of one unit of beef is 4 chips;the opportunity cost of one chip is 1/4 unit of beef.(b) The United States has a comparative cost advantage in beef with respect to Germany,while Germany has a comparative cost advantage in computer chips.(c) The range for mutually beneficial trade between the United States and Germany foreach unit of beef that the United States exports is2C < 1B < 4C(d) Both the United States and Germany would gain 1 chip for each unit of beef traded.2. Given: (1) two nations (1 and 2) which have the same technology but different factor costs conditions, and (3) no transportation costs, tariffs, or other obstructions to trade.Prove geometrically that mutually advantageous trade between the two nations is possible.Note: Your answer should show the autarky (no-trade) and free-trade points of production and consumption for each nation, the gains from trade of each nation, and express the equilibrium condition that should prevail when trade stops expanding.)Ans.: See the figure below.Fig 4.3Fig 4.4Nations 1 and 2 have different production possibilities curves and different community indifference maps. With these, they will usually end up with different relative commodity prices in autarky, thus making mutually beneficial trade possible.In the figure, Nation 1 produces and consumes at point A and Px/Py=P A in autarky, while Nation 2 produces and consumes at point A' and Px/Py=P A'. Since P A < P A', Nation 1 has a comparative advantage in X and Nation 2 in Y. Specialization in production proceeds until point B in Nation 1 and point B' in Nation 2, at which P B =P B' and the quantity supplied for export of each commodity exactly equals the quantity demanded for import.Thus, Nation 1 starts at point A in production and consumption in autarky, moves to point B in production, and by exchanging BC of X for CE of Y reaches point E in consumption. E > A since it involves more of both X and Y and lies on a higher community indifference curve.Nation 2 starts at A' in production and consumption in autarky, moves to point B' in production, and by exchanging B'C' of Y for C'E' of X reaches point E'in consumption (which exceeds A').At Px/Py=P B =P B', Nation 1 wants to export BC of X for CE of Y, while Nation 2 wants to export B'C' (=CE) of Y for C'E' (=BC) of X. Thus, P B =P B' is the equilibrium relative commodity price because it clears both (the X and Y) markets.3. (a) Identify the conditions that may give rise to trade between two nations. (b) What aresome of the assumptions on which the Heckscher-Ohlin theory is based? (c) What does this theory say about the pattern of trade and effect of trade on factor prices?Ans. (a) Trade can be based on a difference in factor endowments, technology, or tastesbetween two nations. A difference either in factor endowments or technology results in a different production possibilities frontier for each nation, which, unlessneutralized by a difference in tastes, leads to a difference in relative commodity price and mutually beneficial trade. If two nations face increasing costs and have identical production possibilities frontiers but different tastes, there will also be a differencein relative commodity prices and the basis for mutually beneficial trade between the two nations. The difference in relative commodity prices is then translated into adifference in absolute commodity prices between the two nations, which is the immediate cause of trade.(b) The Heckscher-Ohlin theory (sometimes referred to as the modern theory – asopposed to the classical theory - of international trade) assumes that nations have the same tastes, use the same technology, face constant returns to scale (i.e., a givenpercentage increase in all inputs increases output by the same percentage) but differ widely in factor endowments. It also says that in the face of identical tastes or demand conditions, this difference in factor endowments will result in a difference in relative factor prices between nations, which in turn leads to a difference in relativecommodity prices and trade. Thus, in the Heckscher-Ohlin theory, the internationaldifference in supply conditions alone determines the pattern of trade. To be noted is that the two nations need not be identical in other respects in order for internationaltrade to be based primarily on the difference in their factor endowments.(c) The Heckscher-Ohlin theorem postulates that each nation will export the commodityintensive in its relatively abundant and cheap factor and import the commodityintensive in its relatively scarce and expensive factor. As an important corollary, itadds that under highly restrictive assumptions, trade will completely eliminate thepretrade relative and absolute differences in the price of homogeneous factors amongnations. Under less restrictive and more usual conditions, however, trade will reduce, but not eliminate, the pretrade differences in relative and absolute factor prices among nations. In any event, the Heckscher-Ohlin theory does say something very useful onhow trade affects factor prices and the distribution of income in each nation. Classical economists were practically silent on this point.-33-4. Suppose that tastes change in Nation 1 (the L-abundant and L-cheap nation) so that consumers demand more of commodity X (the L-intensive commodity) and less of commodity Y (the K- intensive commodity). Suppose that Nation 1 is India, commodity X is textiles, and commodi- ty Y is food. Starting from the no-trade equilibrium position and using the Heckscher-Ohlinmodel, trace the effect of this change in tastes on India's (a) relative commodity prices anddemand for food and textiles, (b) production of both commodities and factor prices, and(c) comparative advantage and volume of trade. (d) Do you expect international trade to leadto the complete equalization of relative commodity and factor prices between India and theUnited States? Why?Ans. (a) The change in tastes can be visualized by a shift toward the textile axis in India'sindifference map in such a way that an indifference curve is tangent to the steepersegment of India's production frontier (because of increasing opportunity costs) after the increase in demand for textiles. This will cause the pretrade relative commodity price of textiles to rise in India.(b) The increase in the relative price of textiles will lead domestic producers in India toshift labor and capital from the production of food to the production of textiles. Since textiles are L-intensive in relation to food, the demand for labor and therefore the wage rate will rise in India. At the same time, as the demand for food falls, thedemand for and thus the price of capital will fall. With labor becoming relative more expensive, producers in India will substitute capital for labor in the production of both textiles and food.(c) Even with the rise in relative wages and in the relative price of textiles, India stillremains the L-abundant and low-wage nation with respect to a nation such as theUnited States. However, the pretrade difference in the relative price of textilesbetween India and the United States is now somewhat smaller than before the change in tastes in India. As a result the volume of trade required to equalize relativecommodity prices and hence factor prices is smaller than before. That is, India need now export a smaller quantity of textiles and import less food than before for therelative price of textiles in India and the United States to be equalized. Similarly, the gap between real wages and between India and the United States is now smaller and can be more quickly and easily closed (i.e., with a smaller volume of trade).(d) Since many of the assumptions required for the complete equalization of relativecommodity and factor prices do not hold in the real world, great differences can be expected and do in fact remain between real wages in India and the United States.Nevertheless, trade would tend to reduce these differences, and the H-O model does identify the forces that must be considered to analyze the effect of trade on thedifferences in the relative and absolute commodity and factor prices between Indiaand the United States.-34-5. (a) Explain why the Heckscher-Ohlin trade model needs to be extended. (b) Indicate in what important ways the Heckscher-Ohlin trade model can be extended. (c) Explain what ismeant by differentiated products and intra-industry trade.Ans. (a) The Heckscher-Ohlin trade model needs to be extended because, while generallycorrect, it fails to explain a significant portion of international trade, particularly the trade in manufactured products among industrial nations.(b) The international trade left unexplained by the basic Heckscher-Ohlin trade model canbe explained by (1) economies of scale, (2) intra-industry trade, and (3) trade based on imitation gaps and product differentiation.(c) Differentiated products refer to similar, but not identical, products (such as cars,typewriters, cigarettes, soaps, and so on) produced by the same industry or broadproduct group. Intra-industry trade refers to the international trade in differentiated products.-35-。

ch07 国际经济学课后答案与习题(萨尔瓦多)

*CHAPTER 7(Core Chapter)INTEGRATIONECONOMICOUTLINE7.1 Introduction7.1 Forms of Economic Integration7.2 Trade Creation and Trade Diversion in Customs Unions7.3 Dynamic Benefits from Customs Unions7.4 The European UnionCase Study 7-1 Economic Profile of EU, NAFTA, and JapanCase Study 7-2 Gains from the Single EU Market in 19927.5 The European Free Trade Association7.6 The North-American Free Trade Agreement (NAFTA)7.7 Attempts at Economic Integration Among Developing CountriesCase 7-3 Economic Profile of MercosurCase 7-4 Changes in Trade Pattern with Economic Integration7.9 Economic Integration in Central and Eastern Europe and in the former Soviet RepublicsCase Study 7-5 Per Capita Income in Transition EconomiesKey TermsdeflectionTradeEconomicintegrationPreferential trade arrangements European Economic Area (EEA)Free trade area North American Free Trade Agreement (NAFTA)MarketCommon(Mercosur)SouthernCustomsunionmarket Council of Mutual Economic Assistance (CMEA) or (COMECON) Commoncompaniestradingunion StateEconomicDuty-free zones or free economic zones Centrally planned economiesagreementsBilateralTradecreationBulkpurchasingdiversionTradeandEastern European Countries (CEEC) factoriesCentralTariffNewly Independent States (NIS)(EU)EuropeanUnionVariable import levies Commonwealth of Independent States (CIS)European Free Trade Association (EFTA) Central European Free Trade Association (CEFTA)(BFTA)AreaBalticTradeFree-53-Lecture Guide:1. This is not a core chapter and I would skip it, except for sections 7-4 to 7-8 dealing with theEuropean Union (EU), The European Free Trade Association, the North American FreeTrade Agreement (NAFTA), and the Southern Common Market (Mercosur).2. I would take two classes to cover the material. Case Studies 7-1 to 7-4 can be used for a very stimulating class discussion.Answers to Problems:1. If Nation A imposes a 100 percent ad valorem tariff on imports of commodity X fromNation B and Nation C, Nation A will produce commodity X domestically because thedomestic price of commodity X is $10 as compared with the tariff-inclusive price of$16 if Nation A imported commodity X from Nation B and $12 if Nation A importedcommodity X from nation C.2. a. If Nation A forms a customs union with Nation B, Nation A will import commodityX from Nation B at the price of $8 instead of producing it itself at $10 or importing itfrom Nation C at the tariff-inclusive price of $12.b. The formation by Nation A of a customs union with Nation B leads to trade creationonly because Nation A replaces the domestic production of commodity X at Px=$10with tariff-free imports of commodity X from Nation B at Px=$8.3. If Nation A imposes a 50 percent ad valorem tariff on imports of commodity X fromNation B and Nation C, Nation A will import commodity X from nation C at the tariff-inclusive price of $9 instead of producing commodity X itself or importing it fromNation B at the tariff-inclusive price of $12.4. a. If Nation A forms a customs union with Nation B, Nation A will import commodityX from Nation B at the price of $8 instead of importing it from Nation C at the tariff- inclusive price of $9.b. The formation by Nation A of a customs union with Nation B leads not only to tradecreation but also to trade diversion because it replaces lower-cost imports of commodity X of $6 (from the point of view of Nation A as a whole) with higher priced imports of Commodity X from Nation B at $8.Specifically, Nation A's importers do not import commodity X from Nation C becausethe tariff-inclusive price of commodity X from Nation C is $9 as compared with theno-tariff price of $8 for imports of commodity X from Nation B. However, since thegovernment of Nation A collects the $3 tariff per unit on imports of commodity Xfrom Nation C, the net effective price for imports of commodity X from Nation C isreally $6 for Nation A as a whole.-54-5. a. See Figure 1 below.b. The net gain from the trade-diverting customs union shown in Figure 1 is given byC'JJ'+B'HH'-MJ'H'N. As contrasted with the case in Figure 7-1 in the text, however,the sum of the areas of the two triangles (measuring gains) is here greater than the area the rectangle (measuring the loss). Thus, the nation would now gain from the formation of a custom union. Had we drawn the figure on graph paper, we would have been able to measure the net gain in monetary terms also.6. A customs union that leads to both trade creation and trade diversion is more likely to lead to a net positive welfare gain of the nation joining the union (1) the smaller is the relative inefficiency of the union member in relation to the non-union member and (2) the higher is the level of the tariff imposed by the customs union on the non-union member.7. The dynamic benefits resulting from the formation of a customs union are (1) increasedcompetition, (2) economies of scale, (3) stimulus to investment, and (4) better utilizationof economic resources. These are likely to be much more significant than the static benefits.8. See Figure 2 below. The formation of the customs union has no effect.9. NAFTA created much more controversy because the very low wages in Mexico led togreat fears of large job losses in the U. S.10. The possible cost to the U.S. from EU92 arose from the increased efficiency andcompetitiveness of the E.U. The benefit arose because a more rapid growth in the EUspills into a greater demand for American products, which benefits the U. S.Fig 7.1xPFig 7.2xP-55-Multiple-choice Questions:1. Which of the following statements is correct?*a. in a customs union, member nations apply a uniform external tariffb. in a free-trade area, member nations harmonize their monetary and fiscal policiesc. within a customs union there is unrestricted factor movementd. a customs union is a higher form of economic integration than a common market2. A customs union that allows for the free movement of labor and capital among itsmember nations is called a:a. preferential trade arrangementb. free-trade area*c. common marketd. all of the above3. A customs union creates trade when:a. lower-cost imports from outside the customs union are replaced by higher-costimports from a union member*b. some domestic production in a member nation is replaced by lower-cost imports from another member nationc. trade among members increases but trade with nonmembers decreasesd. trade among members decreases while trade with nonmembers increases4. Trade diversion arises in a customs union if it:a. increases trade among union members and with nonmember nationsb. reduces trade among union members and with nonmember nations*c. increases trade among members but reduces trade with non-membersd. reduces trade among union members but increases it with nonmembers5. Customs union usually results in:a. trade diversion onlyb. trade creation only*c. both trade creation and trade diversiond. we cannot say-56-6. The formation of a customs union that leads only to trade creation and all economic resources of member nations are fully employed before and after the formation of the customs union leads to an:*a. increase in the welfare of member and nonmember nationsb. increase in the welfare of member nations onlyc. increase in the welfare of nonmember nations onlyd. increase or decrease in the welfare of member and nonmember nations7. A customs union that leads to both trade creation and trade diversion:a. increases the welfare of member and nonmember nationsb. reduces the welfare of member and nonmember nationsc. increases the welfare of member nations but reduces that of nonmembers*d. reduces the welfare of nonmembers and may increase or reduce that of members8. A customs union is more likely to lead to trade creation:a. the lower are the pre-union trade barriers of the member countries*b. the lower are the customs union's barriers on trade with the rest of the worldc. the smaller is the number of countries forming the customs union and the smallertheir sized. the more complementary rather than competitive are the economies of the nationsforming the customs union9. Which is not a dynamic benefit from the formation of a customs union?a. increased competitionb. economies of scalec. stimulus to investment*d. trade creation10. The formation of the EU resulted in:a. trade creation in industrial and agricultural productsb. trade diversion in industrial and agricultural products*c. trade creation in industrial products and trade diversion in agricultural productsd. trade diversion in industrial products and trade creation in agricultural products11. The benefit that the United States receives from NAFTA:*a. increasing competition in product and resource marketsb. greater technical innovationc. improvements in its terms of traded. all of the above-57-12. The benefit that Mexico is likely to receive from NAFTA:a. greater export-led growthb. encouraging the return of flight capitalc. more rapid structural change*d. all of the above13. Which is a stumbling block to successful economic integration among groups ofdeveloping nations?a. benefits are not evenly distributed among nationsb. many developing nations are not willing to relinquish part of their newly-acquiredsovereignty to a supranational community body, as required for successful economicintegrationc. the complementary nature of their economies and competition for the same worldmarkets for their agricultural exports*d. all of the above14. The formation of a free trade area among the countries of Eastern Europe is advocatedin order to:a. restore trade trading*b. retain the traditional trade links that can be justified on market principlesc. reduce the need for structural changed. none of the above15. The Members of Mercosur are:a. Brazil, Mexico, Argentina, and venezuelab. Argentina, Brazil, the United States and Peru*c. Brazil, Argentina, Paraguay, and Uruguayd. Brazil, Chile, Peru and Canada-58-。

(完整word版)国际经济学练习题及答案(内部资料)

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。

萨尔瓦多国际经济学第三章课后练习题答案

1.在一个坐标系内，画一条凹向原点的生产可能性曲线:（1）从生产可能性曲线的中点开始用箭头表示该国在生产更多X(横轴表示的商品)和更多Y时所发生的机会成本递增情况。

（2）当生产更多的X时，生产可能性曲线的斜率如何变化?生产更多的Y呢?这种变化反映了什么?答：（1）图1 生产可能性曲线（3）如上图所示，当生产更多的X时，生产可能性曲线的斜率变大；当生产更多的Y时，生产可能性曲线的斜率变大。

原因是当该国生产更多的X或Y时，机会成本会变大。

2.在另一个坐标系内，画三条社会无差异曲线,并令最高的两条相交:(1) 社会无差异曲线为什么向下倾斜,或者说斜率为负?(2)曲线的斜率代表什么?为什么每条无差异曲线在较低点斜率较小?(3)考虑相交的两条无差异曲线，是在交点右边的还是在交点左边的曲线表示的满足程度较高?为什么和无差异曲线的定义不一致?你可以得出什么结论?答：图2 社会无差异曲线（1）社会无差异曲线之所以会向下倾斜是因为为了维持社会福利水平不变，随着X商品消费的增加必须减少Y的消费。

（2）曲线的斜率代表一国在保持处在同一条无差异曲线的前提下，多消费一单位x而必须少消费Y的数量。

一国消费X越多，则其消费Y越少。

对该国来说，一单位Y的效用会逐渐增大。

因此，该国每多消费一单位X，只会放弃越来越少的Y商品。

所以，无差异曲线在较低点斜率较小。

（3）无差异曲线的定义表明每条无差异曲线意味着一个给定的满足程度，无差异曲线互不相交。

无差异曲线II显示了比交点右边更高的满足程度，无差异曲线II显示了比交点左边更高的满足程度。

因此，这个图是不合理。

3.在一个坐标系内，画一条生产可能性曲线，再画一条无差异曲线切于生产可能性曲线较平坦的地方，在另一个坐标系内，面另一条生产可能性曲线,再画另一条无差异曲线切于生产可能性曲线较陡直的地方。

(1)画一条表示各国孤立均衡相对价格的直线。

(2)各国具有比较优势的商品分别是什么?(3)在什么(极端)情况下，两国之间不存在比较优势或比较劣势?答：国家1 国家2图3 孤立均衡（1）如图3所示，P A和P A’是两国在孤立均衡情况下的价格。

ch06 国际经济学课后答案与习题(萨尔瓦多)

*CHAPTER6Chapter) (Core NONTARIFF TRADE BARRIERS AND THE POLITICAL ECONOMY OF PROTETIONISM OUTLINE6.1 Introduction6.2 Import Quotas6.3 Other Nontariff Trade BarriersCase Study 6-1 Voluntary Export Restraints on Japanese Automobiles to the United States6.4 Dumping and Export SubsidiesCase Study 6-2 Antidumping Measures in Force in 2002Case Study 6-3 Agricultural Subsidies in Developed NationsCase Study 6-4 Pervasiveness of Nontariff Barriers6.5 The Political Economy of Protectionism6.6 Strategic Trade and Industrial PoliciesCase Study 6-5 Economic Effects on the U.S. Economy from Removing all Import Restraints6.7 History of U.S. Commercial Policy6.8 The Uruguay RoundCase Study 6-6 The Multilateral Rounds of Trade Negotiations6.9 Outstanding Trade Problems and the Doha RoundAppendix: Strategic Trade and Industrial Policies with Game TheoryKey Termsprinciple Most-favored-nationQuotaNontariff trade barriers (NTBs) Bilateral tradeprotectionism General Agreement on Tariffs and Trade (GATT) NewVoluntary export restraints (VERs) Multilateral trade negotiationsTechnical, administrative, and other regulations Peril-point provisionsclausecartel EscapeInternationalclauseDumping NationalsecurityPersistent dumping Trade Expansion Act of 1962Trade adjustment assistance (TAP)Predatorydumpingdumping KennedyRoundSporadicTrigger-price mechanism Trade Reform Act of 1974RoundExportsubsidies TokyoExport-Import Bank Trade and Tariff Act of 1984Foreign Sales Corporations Omnibus Trade and Competitiveness Act of 1988UruguayRound(CVDs)dutiesCountervailingOrganization(WTO)TradeWorldScientifictariffpromotion authority or fast trackInfant-industryargument TradepolicyRoundDohatradeStrategicmovement policy AntiglobalizationIndustrialtheoryAct GameSmoot–HawleyTariffTrade Agreements Act of 1934-43-Lecture Guide:1. This is an important core chapter examining some of the most recent developments ininternational trade policy.2. I would cover sections 1-3 in lecture 1. I would pay particular attention to Figure 6-1,which examines the partial equilibrium effects of an import quota. I would also clearlyexplain the difference between a regular import quota and a voluntary export restraint.3. I would cover sections 4 and 5 in lecture 2. I would also clearly explain the meaningand importance of dumping and export subsidies, as well as the political economy ofprotectionism. The four case studies serve to highlight the theory and show the relevance of the theory in today's world.4. The rest of the chapter can be covered in lecture 3. Strategic trade and industrial policies, thehistory of U.S. commercial policy, and the outstaying trade problems and the collapse of the Doha Round of trade negotiations in September 2003 should not be difficult to explain and can lead to a great deal of interesting class discussion.Answer to Problems:1. a. An import quota will increase the price of the product to domestic consumers, reduce the domestic consumption of the good, increase domestic production, and result in a protection or deadweight loss to the economy.b. The effects of an import quota are identical to those of an equivalent import tariff, except that with a quota the government does not collect a tariff revenue (unless it auctions offimport quotas to the highest bidder). The import quota is also more restrictive than anequivalent import tariff because foreign producers cannot increase their exports bylowering their prices.2. By penciling in D”X in Figure 1, we can see that the effects of the import quota are:P x=$2.00 and consumption is 60X, of which 40X are produced domestically and 20X areimported; by auctioning off import licenses, the revenue effect would be $20.3. The effects of an export quota of 20X are identical to those of an import quota of 20X or a100 percent import tariff on commodity X, except that the revenue effect is collected by the exporters, rather than by the domestic importers or their government.4. a. An international cartel is an organization of suppliers of a commodity located in different nations (or it is a group of governments) that agrees to restrict output and the exports of the commodity with the aim of maximizing or increasing the total profits of its members.Although domestic cartels are illegal in the United States and are restricted in Europe, the power of international cartels cannot easily be countered because they do not fall under the jurisdiction of any one nation.b. The most notorious of present-day international cartels is OPEC (Organization ofPetroleum Exporting Countries), which, by restricting production and exports, succeeded in quadrupling the price of crude oil between 1973 and 1974. The economic power ofOPEC declined during the 1980s and 1990s when many other nations (such as Russia,Mexico, Norway, the United Kingdom) encouraged by the sharp increase in prices started to extract and export petroleum.5. a. Dumping refers to the export of a commodity at below cost or at a lower price than thecommodity is sold domestically.b. Dumping is classified as persistent, predatory, and sporadic. Persistent dumping, orinternational price discrimination, refers to the continuous sale of the commodity at ahigher price in the domestic market than internationally . The incentive for persistentdumping is the higher profits it provides to domestic producers.Predatory dumping is the temporary sale of a commodity at below cost or at a lower priceabroad than at home in order to drive foreign producers out of business, after which prices are raised to maximize profits. Sporadic dumping is the occasional sale of a commodity at below cost or at a lower price abroad than domestically in order to unload an unforeseenand temporary surplus of the commodity without having to reduce domestic prices.c. Dumping usually leads to trade restrictions as nations try to protect domestic producersfrom “unfair” foreign competition, even when the dumping is persistent and sporadic.6. a. One fallacious argument is that trade restrictions are needed to protect domestic laboragainst cheap foreign labor. This argument is not valid because even if domestic wagesare higher than wages abroad, domestic labor costs can still be lower if the productivity of labor is sufficiently higher domestically than abroad. If not, expensive-labor nations canstill specialize in the production and export capital- and technology-intensive commodities.b. Another fallacious argument for protection is the scientific tariff. This is the tariff rate that would make the price of imports equal to domestic prices and (so the argument goes) allow domestic producers to meet foreign competition. However, this would eliminate internatio- nal price differences and trade in commodities subject to such “scientific” tariffs.7. a. The infant-industry argument postulates that temporary protection may be justified in order to allow a developing nation to develop an industry in which it has a potential comparative advantage. Temporary trade protection is then justified to establish and protect the domestic industry during its “infancy” until it can grow and meet foreign competition. For thisargument to be valid, however, protection must be temporary and the return in the grown-up industry must be sufficiently high to also offset the higher prices paid by domesticconsumers of the commodity during the period of infancy.b. The infant-industry argument must be qualified in several important ways to be acceptable. First, this argument is more justified for developing nations (where capital markets maynot function properly) than for industrial nations. Second, it is usually difficult to identifywhich industry or potential industry qualifies for this treatment, and experience has shown that protection, once given, is difficult to remove. Third, and most important, what tradeprotection (say in the form of an import tariff) can do, an equivalent production subsidy to the infant industry can do better.8. a. According to strategic industrial trade policy a nation can create a comparative advantage(through temporary trade protection, subsidies, tax benefits, and cooperative government– industry programs) in a high-technology field deemed crucial to future growth in the nation.b. There are also serious difficulties in carrying strategic industrial and trade policies. First, itis extremely difficult to pick winners (i.e., choose the industries that will contribute significantly to growth in the future). Second, if most leading nations undertake strategic trade policies at the same time, their efforts are largely neutralized. Third, when a country does achieve substantial success with a strategic trade policy, this comes at the expense of other countries (i.e., it is a beggar-thy-neighbor policy), which are, therefore, likely to retaliate. Faced with all these practical difficulties, even supporters of strategic trade policy grudgingly acknowledge that free trade is still the best policy, after all.9. a. The main provisions of the Uruguay Round were the reduction of average tariffs onindustrial goods from 4.7 percent to 3 percent, for quotas to be replaced by tariffs, and for antidumping and safeguards to be tightened. The agreement also called for the reduction in agricultural export subsidies and industrial subsidies, and for the protection of intellectual property.b. When fully implemented by 2005, the Uruguay Round is estimated to increase world tradeby about 20 percent (with one quarter of the increase in trade in manufactures and the rest in agriculture) and generate total gains in world income of $349 billion ($164 billion from liberalizing trade in agriculture, $130 billion from manufactures and $55 billion fromservices), with developing countries receiving 42 percent of the total gains (mostly fromliberalization of trade in manufactures), which is roughly double their share of world GDP.10. a. The major trade problems facing the world today are (1) the serious trade disputes amongthe United States, the European Union, and Japan; (2) the high trade protectionism, especially in agriculture and textiles, which are of great importance to developing countries, and the abuse antidumping and safeguards; (3) the breaking up of the world into a few major trading blocks, and a serious anti-globalization movement that has come into existence.b. The Doha Round is needed to take up all of the above problems. However, as of the endof 2003 no negotiating agenda had been decided primarily because of disagreements on agricultural protectionism between developing and developed countries.-46-Multiple-choice Questions:1. An import quota:a. increases the domestic price of the imported commodityb. reduces domestic consumptionc. increases domestic production*d. all of the above2. An increase in the demand of the imported commodity subject to a given import quota:a. reduces the domestic quantity demanded of the commodity*b. increases the domestic production of the commodityc. reduces the domestic price of the commodityd. reduces the producers' surplus3. Adjustment to any shift in the domestic demand or supply of an importable commodityoccurs:a. in domestic price with an import quotab. in the quantity of imports with a tariffc. through the market mechanism with an import tariff but not with an import quota*d. all of the above4. An international cartel refers to:a. dumping*b. an organization of exportersc. an international commodity agreementd. voluntary export restraints5. The temporary sale of a commodity at below cost or at a lower price abroad in order todrive foreign producers out of business is called:*a. predatory dumpingb. sporadic dumpingc. continuous dumpingd. voluntary export restraints6. The type of dumping which would justify antidumping measures by the country subjectto the dumping is:*a. predatory dumpingb. sporadic dumpingc. continuous dumpingd. all of the above7. A fallacious argument for protection is:a. the infant industry argumentb. protection for national defense*c. the scientific tariffd. to correct domestic distortions8. Which of the following is true with respect to the infant-industry argument for protection:a. it refers to temporary protection to establish a domestic industryb. to be valid, the return to the grown-up industry must be sufficiently high also to repayfor the higher prices paid by domestic consumers of the commodity during the infancyperiodc. is inferior to an equivalent production subsidy to the infant industry*d. all of the above9. Which of the following is false with respect to strategic trade policy?a. it postulates that a nation can gain by an activist trade policy*b. it is practiced to some extent by most industrial nationsc. it can easily be carried outd. all of the above10. Industrial policy refers to:a. an activist policy by the government of an industrial country to stimulate thedevelopment of an industryb. the granting of a subsidy to a domestic industry to stimulate the development of anindustryc. the granting of a subsidy to a domestic industry to counter a foreign subsidy*d. all of the above11. Trade protection in the United States is usually provided to:a. low-wage workersb. well-organized industries with large employmentc. industries producing consumer products*d. all of the above12. The most-favored-nation principle refers to:*a. extension to all trade partners of any reciprocal tariff reduction negotiated by theU.S. with any of its trade partnersb. multilateral trade negotiationc. the General Agreement on Tariffs and Traded. the International Trade Organization13. On which of the following principles does GATT rest?a. nondiscriminationb. elimination of nontariff barriersc. consultation among nations in solving trade disputes*d. all of the above14. Which of the following was not negotiated under the Uruguay Round?a. reduction of tariffs on industrial goodsb. replacement of quotas with tariffsc. reduction of subsidies on industrial products and on agricultural exports *d. liberalization in trade in most services15. Game theory refers to:*a. a method of choosing the optimal strategy in conflict situationsb. the granting of a subsidy to correct a domestic distortionc. the theory of tariff protectiond. none of the aboveADDITIONAL ESSAYS AND PROBLEMS FOR PART TWO1. From the following figure, in which Dc and Sc refer, respectively to the domesticdemand and supply curves of cloth, and S F and S F+T refer, respectively, to the worldsupply curve of cloth under free trade and with a 50% import tariff imposed by the nation on the importation of cloth, determine:P CFig 6.1(a) the consumption, production effect, and the trade effect of the tariff.(b) the reduction in consumer surplus, the increase in producer surplus or rent, the tariff revenue, and the protection cost or deadweight loss to the economy as a result of the tariff.Answ. (a) The consumption effect is equal to BR=-20c;the production effect is equal to GN=20C;therefore, the trade effect is equal to -(BR+GN)=-40c.(b) The reduction in consumer surplus is FJHB=$90;the increase in producer surplus is FJMG=$30;the revenue effect is NMHR=$40;the protection cost or deadweight loss to the economy is equal to the sum of the area of triangles GMN and BHR or $20.2. (a) Explain why and under what conditions the infant-industry argument for an importtariff is valid.(b) How must this argument be qualified?Answ. (a) The infant-industry argument for tariffs is generally valid, especially for less developed countries (LDCs). It holds that an LDC may have a potential comparative advantage in a particular commodity, say textiles, but that because its initial production costs are too high (due to lack of know-how and the initial small level of output), this industry cannot be established or grow in the LDC in the face of foreign competition. An import tariff is then justified to help the LDC establish the industry and protect it during its "infancy," until the industry has grown in size and efficiency and is able to meet foreigncompetition. At that time, the tariff is to be removed.(b) In order for the infant-industry argument to be valid, not only must the tariff eventuallybe removed and the "grown up" industry be able to compete with foreign firms without protection, but the extra return in the industry (after the removal of the protection) must be high enough to justify the costs involved during the period of protection. These costs arise because the commodity is produced domestically rather than imported for less. It may also be difficult a priori to determine which industry or potential industry qualifies for this treatment, and to eventually remove the tariff once it is imposed. Economistsalso agree that what a tariff can do here, a direct subsidy to the infant industry can dobetter. This is because a subsidy can be varied so as to provide the infant industry with the same degree of protection as an equivalent import tariff but without distortingrelative prices and domestic consumption. However, a subsidy requires revenue, rather than generating it as the tariff does.-51-3. (a) How can strategic trade policy justify trade protection?(b) What difficulties arise in carrying out a strategic trade policy?Answ. (a) According to strategic trade policy, a nation can create a comparative advantage through temporary trade protection in such fields as semiconductors, computers, telecommunica- tions, and other industries that are deemed crucial to future growth in the nation. These high-technology industries are subject to high risks, require large-scale production toachieve economies of scale and give rise to extensive external economies whensuccessful. Strategic trade policy suggests that by encouraging such industries, thenation can enhance its future growth prospects. This is similar to the infant-industryargument in developing nations, except that it is advanced for industrial nations toacquire a comparative advantage in crucial high-technology industries. Most nationsdo some of this. Indeed, some economists would go so far as to say that a great dealof the postwar industrial and technological success of Japan is due to its strategicindustrial and trade policies.(b) There are three serious difficulties in carrying out strategic trade policy. First,it is extremely difficult to pick winners (i.e., choose the industries that will providelarge external economies in the future) and devise appropriate policies to successfullynurture them. Second, since most leading nations undertake strategic trade policies atthe same time, their efforts are largely neutralized so that the potential benefits to each may be small. Third, when a country does achieve substantial success with strategictrade policy, this comes at the expense of other countries (i.e., it is a beggar-thy-neighbor policy) and so other countries are likely to retaliate. Faced with all thesepractical difficulties, even supporters of strategic trade policy grudgingly acknowledge that free trade is still the best policy, after all.-52-。

萨尔瓦多《国际经济学》课后习题详解(国际贸易的标准理论)【圣才出品】

第3章国际贸易的标准理论一、概念题1．自给自足（autarky）答：自给自足特指在经济上完全依靠自己的力量来满足各种需要，而不与外部世界发生任何贸易关系。

在工业社会以前，大部分国家都处于自给自足的状态，经济发展落后，彼此间交流沟通很少。

这种情况的自给自足是狭隘的，因为本国的生产要素使用没有达到最优状态，且人民物质生活比较贫乏。

当前，随着经济的发展，有些国家由于要素禀赋的充裕以及技术的革新，有些产品生产上已经实现了自给自足。

2．社会无差异曲线（community indifference curve）答：社会无差异曲线是表明一个国家或经济体保持等量的国民消费水平或福利水平的两种商品的各种消费量组合点的轨迹。

或者说，它是显示社会福利水平为一常数的各种消费选择。

每一条社会无差异曲线都代表一定的社会效用水平，曲线上的每一点的斜率表示社会对两种商品的边际替代率；较高的曲线反映较高的满足程度，较低的曲线反映较低的满足程度。

社会无差异曲线凸向原点，斜率为负，而且互不相交。

3．去工业化（deindustrialization）答：去工业化又称为非工业化、逆工业化，指制造业就业比重持续下降。

它有两个主要特点：制造业发展停滞；制造业大规模裁员，就业从第二产业转向服务行业，制造业就业比重急剧下降。

去工业化现象最早始于美国。

一般来说，去工业化现象是出现在一些大城市地区以及那些以资源为基础、传统的衰退产业相对集中的老工业基地。

这主要是因为：①大城市地区土地租金和工资等生产成本较高，劳动和环境保护意识较强，加上市中心区生活和环境质量的下降，导致企业家把制造工厂由发达国家大城市迁移到中小城镇和农村地区，甚至迁移到国外。

②由于资源的枯竭和生产成本的上升，工业发达国家的一些传统产业如钢铁、造船、工程机械和纺织等，逐步走向衰退。

这些衰退产业主要集中在一些老工业基地，由此导致这些地区制造业出现严重的下降。

③随着技术发展，企业可以把生产过程的某些部分，尤其是劳动密集型的加工装配环节，分散到国外工资成本相对低廉的地区，而发展中国家提供的各种优惠政策又加剧了这种趋势。

ch04国际经济学课后答案与习题萨尔瓦多

ch04国际经济学课后答案与习题萨尔瓦多萨尔瓦多：国际经济学课后答案与习题第一章介绍国际经济学1. 概念与定义国际经济学是研究国际贸易、国际金融和国际投资等国际经济关系的学科。

它主要研究不同国家之间的贸易、资金流动和其他经济交往，探讨国际经济活动的原因、影响因素和政策措施。

2. 国际经济学的重要性国际经济学旨在帮助人们更好地理解国际经济交往的现象和规律，为国家、企业和个人提供参考依据。

它能揭示经济全球化的趋势、国际贸易的利益和风险，并提供决策者制定政策的理论支持。

第二章国际贸易1. 比较优势理论比较优势理论由大卫·里卡多提出，它认为国家应专注于生产自己具有比较优势的商品，然后通过国际贸易以获取其他商品。

这个理论说明了国际贸易的潜在益处。

2. 绝对优势与比较优势绝对优势是指某个国家在生产某种商品上的效率高于其他国家，而比较优势则是指某个国家在生产某种商品上的机会成本低于其他国家。

比较优势是基于机会成本而产生的。

第三章国际金融1. 汇率与汇率制度汇率是一种货币兑换为另一种货币的比率。

汇率制度是指国家对其货币与其他货币之间的兑换比率进行管理和调整的体系。

汇率制度根据不同的货币政策和国家经济状况而有所不同，如固定汇率制和浮动汇率制等。

2. 随机汇率与管理型汇率制度随机汇率是由市场力量决定的汇率，在市场上自由浮动。

管理型汇率制度是由政府或央行干预市场来控制或影响汇率的变动。

第四章国际投资1. 直接投资与证券投资直接投资是指投资者通过购买或建立企业、工厂或设施等方式，在境外进行经济活动。

证券投资则是指投资者通过购买股票、债券或其他金融资产来获得收益。

2. 外国企业与政府投资外国企业可以通过直接投资的方式，在其他国家建立子公司或扩大在其它国家的经营规模。

政府投资则是指政府通过直接投资的方式，参与国际投资活动，以增加国家的影响力和经济实力。

结语国际经济学是一门重要的学科，它帮助我们理解国际经济交往的规律，为决策者制定政策提供理论支持。

萨尔瓦多《国际经济学》笔记及习题(比较优势原理)【圣才出品】

第2章比较优势原理2.1 复习笔记一、重商主义重商主义诞生于17～18世纪。

重商主义者认为国家富强的方法应当是尽量使出口大于进口。

出超的结果是金银等贵重金属的流入，而一个国家拥有越多的金银，就会越富有、越强大。

因此，政府应当竭尽所能鼓励出口，不主张甚至限制商品（尤其是奢侈类消费品）的进口。

然而，由于不可能所有贸易国同时出超，而且任一时点上金银总量是固定的，一个国家的获利总是基于其他国家的损失。

因此，重商主义者鼓吹经济民族主义，认为国家利益在根本上是冲突的。

二、绝对优势原理1．绝对优势原理的内容绝对优势原理由亚当·斯密提出。

该理论认为当一国相对另一国在某种商品的生产上有更高效率（或有绝对优势），但在另一种商品生产上效率较低（或有绝对劣势）时，那么两国就可以通过专门生产自己有绝对优势的产品并用其中一部分来交换其有绝对劣势的商品。

这样，资源可以被最有效地使用，而且两种商品的产出会有很大增长。

这种增长可用来测度两国专门化生产所产生的收益，这种收益通过国际贸易在两国间进行分配。

2．绝对优势原理的政策主张亚当·斯密认为，所有国家都可以通过自由贸易获利，倡导自由放任，即政府尽可能少干涉经济活动。

自由贸易会使世界资源获得最有效的利用，使世界福利最大化。

3．绝对优势原理的局限性绝对优势只能解释现在世界贸易中的一小部分，例如在发达国家与发展中国家之间的一些贸易。

大多数世界贸易，尤其是发达国家间的贸易，无法用绝对优势解释。

三、比较优势原理1．比较优势原理比较优势原理由李嘉图提出。

该理论认为，即使一国在两种商品的生产上较之另一国均处于劣势（即无绝对优势），仍可能有互利贸易。

一个国家可以专门生产并出口自己绝对劣势相对较小的商品（这是其有比较优势的商品），同时进口其绝对劣势相对较大的商品（这是其有比较劣势的商品）。

2．比较优势原理的例外当一国在两种商品上的绝对劣势与另一国相同时，两国将均无比较优势，因而两国之间不会有互惠贸易发生。

萨尔瓦多国际经济学习题 - Quiz-All

萨尔瓦多国际经济学习题 - Quiz-All萨尔瓦多国际经济学同步习题Chapter 13: The Balance of PaymentsMultiple-choice Questions:1. Which of the following is false?A. A credit transaction leads to a payment from foreignersB. A debit transaction leads to a payment to foreigners *C. A credit transaction is entered with a negative signD. Double-entry bookkeeping refers to each transaction entered twice.2. Which of the following is a debit? A. The export of goods B. The export of services*C. Unilateral transfers given to foreigners D. Capital inflows3. Capital inflows:A. refer to an increase in foreign assets in the nationB. refer to a reduction in the nation's assets abroadC. lead to a payment from foreigners *D. all of the above4. When a U.S. firm imports goods to be paid in three months the U.S. credits: A. the current account B. unilateral transfers *C. capitalD. official reserves5. The receipt of an interest payment on a loan made by a U.S. commercial bank to a foreign resident is entered in the U.S. balance of payments as a: A. credit in the capital account *B. credit in the current account C. credit in official reserves D. debit in unilateral transfers6. The payment of a dividend by an American company to a foreign stockholder represents: A. a debit in the U.S. capital account B. a credit in the U.S. capital accountC. a credit in the U.S. official reserve account *D. a debit in the U.S. current account7. When a U.S. firm imports a good from England a pays for it by drawing on its pound sterling balances in a London Bank, the U.S. debits its current account and credits its: A. official reserve account B. unilateral transfers account C. services in its current account *D. capital account8. When the U.S. ships food aid to a developing nation, the U.S. debits: *A. unilateral transfers B. services C. capitalD. official reserves9. When the resident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds in a U.S. bank, the U.S.:A. credits capital for (1) and debits capital for (2)B. credits the current account and debits capitalC. debits capital and credits official reserves*D. debits capital for (1) and credits capital for (2)10. When a U.S. resident (1) purchases foreign treasury bills and pays by (2) drawing down his bank balances abroad, the U.S.:A. debits short-term capital and credits official reserves *B. debits capital for (1) and credits capital for (2)C. debits official reserves and credits capitalD. credits short-term capital and debits official reserves11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New York bank represents a: A. capital inflow *B. capital outflowC. outflow of official reservesD. debit in the current account12. Which is not an official reserve asset of the U.S.? A. U.S. holdings of Special Drawing RightsB. The U.S. reserve position in the International Monetary Fund *C. Foreign official holdings of U.S. dollarsD. Official holdings of foreign currencies by U.S. monetary authorities13. The capital account of the U.S. includes:A. the change in U.S. assets abroad and foreign assets in the U.S.*B. the change in U.S. assets abroad and foreign assets in the U.S., other than official reserve assetsC. all financial assetsD. all but current account transactions14. Accommodating items are:A. transactions in official reserve assetsB. the items below the lineC. needed to balance international transactions *D. all of the above15. Which of the following is false?*A. a net debit balance in the current and capital accounts measures the surplus in the nation's balance of paymentsB. a balance of payments deficit must be settled by a net credit in the official reserve accountC. a deficit in the balance of payments can be measured by the excess of credits over debits in the official reserve accountD. a net debit balance in the official reserve account refers to a surplus思考题：以2021年中美两国国际收支平衡表为例，分析两国国际经济交易呈现出哪些不同特征？战后美国出现大的贸易失衡，其原因和影响是什么？中国的外汇储备量世界第一，其原因是？有何利弊？Chapter 14: Foreign Exchange Markets and ExchangeRatesMultiple-choice Questions:1. Which is not a function of the foreign exchange market? A. to transfer funds from one nation to another B. to finance trade *C. to diversify risksD. to provide the facilities for hedging2. An increase in the pound price of the dollar represents: *A. an appreciation of the dollar B. a depreciation of the dollar C. an appreciation of the pound D. a devaluation of the dollar感谢您的阅读，祝您生活愉快。

ch04国际经济学课后答案与习题萨尔瓦多

ch04国际经济学课后答案与习题萨尔瓦多国际经济学视角下的萨尔瓦多在国际经济学的广袤领域中，萨尔瓦多作为一个中美洲的国家，具有独特的经济特征和在全球经济格局中的地位。

萨尔瓦多的经济发展历程充满了挑战与机遇。

从传统的农业经济为主，逐渐向多元化的经济结构转变。

农业曾经是其经济的支柱，咖啡、棉花等农产品在国际市场上有一定的份额。

然而，随着时间的推移，萨尔瓦多开始注重发展制造业和服务业，以减少对农业的依赖。

在国际贸易方面，萨尔瓦多面临着诸多问题。

其出口产品相对单一，缺乏高附加值的商品。

这使得萨尔瓦多在国际贸易中处于相对弱势的地位，容易受到国际市场波动和贸易保护主义的影响。

同时，萨尔瓦多的贸易伙伴相对集中，主要是美国和中美洲的一些邻国。

这种贸易结构的单一性增加了经济的风险。

在国际金融领域，萨尔瓦多的货币汇率波动对其经济稳定产生了一定的影响。

萨尔瓦多曾经长期使用美元作为法定货币，这在一定程度上稳定了金融市场，但也削弱了本国货币政策的自主性。

此外，国际资本的流动对萨尔瓦多的金融市场也带来了冲击，尤其是在全球金融危机期间，外资的撤离给其经济造成了不小的压力。

从国际投资的角度来看，萨尔瓦多在吸引外资方面做出了不少努力。

政府出台了一系列优惠政策，试图吸引更多的外国直接投资。

然而，由于基础设施不完善、劳动力素质有待提高等因素，萨尔瓦多在吸引大规模、高质量的外资方面仍面临困难。

萨尔瓦多的经济还受到国际经济环境变化的深刻影响。

例如，全球经济增长放缓会导致对萨尔瓦多出口商品的需求减少，从而影响其经济增长。

而国际原材料价格的波动也会对萨尔瓦多的相关产业造成冲击。

在区域经济合作中，萨尔瓦多积极参与中美洲一体化体系等区域组织，试图通过加强区域内的贸易和投资合作来促进自身经济发展。

然而，区域内各国经济发展水平参差不齐，合作机制也存在一些不完善之处，这在一定程度上限制了区域合作对萨尔瓦多经济的推动作用。

为了实现经济的可持续发展，萨尔瓦多需要在多个方面采取措施。

萨尔瓦多《国际经济学》课后习题详解(外汇市场与汇率)【圣才出品】

第14章外汇市场与汇率一、概念题1．升值（appreciation）答：升值是指单位货币所含有的价值或所代表的价值的上升，又称“货币增值”“通货升值”，是“货币贬值”的对称。

货币升值可以从不同角度来理解：从国内角度看，在金属货币制度下，货币升值是指增加本国货币的法定含金属量，提高其对金属的比价，以提高本国货币价值的措施；在现代纸币制度下，它是指当流通中的纸币数量低于所需要的货币需要量即通货紧缩时，纸币价值上升。

从国际角度看，货币价值表示为与外国货币的兑换能力，具体表现为汇率的变动。

这时，货币升值是指一单位本国货币兑换外国货币能力的提高，即本国货币对外汇价的提高。

2．套利（arbitrage）答：套利是指在期货市场上，在买入（或卖出）某种期货合约的同时，卖出（或买入）相关的另一种期货合约，以期在有利时机同时将这两种期货合约平仓，以获取差价收益的交易行为。

套利一般可分为三类：跨期套利、跨市套利和跨商品套利。

跨期套利是套利交易中最普遍的一种，是利用同一商品在不同交割月份之间正常价格差出现异常变化时进行对冲而获利的一种套利方式，可分为牛市套利和熊市套利。

跨市套利是在不同交易所之间的套利交易行为。

当同一期货商品合约在两个或更多的交易所进行交易时，由于区域间的地理差别，各商品合约间存在一定的价差关系，从而为交易者的跨市套利提供了机会。

在做跨市套利时应注意影响各市场价格差的几个因素，如运费、关税、汇率等。

跨商品套利指的是利用两种不同、但相关联商品之间的价差进行交易。

这两种商品之间具有相互替代性或受同一供求因素制约。

跨商品套利的交易形式是同时买进和卖出相同交割月份但不同种类的商品期货合约。

3．抛补套利（covered interest arbitrage）答：抛补套利是指套利者在把资金从甲地调往乙地以获取较高利息的同时，还在外汇市场上卖出远期的乙国货币以防止风险。

它是一种套利与掉期相结合的一种交易，通过这种交易既可以获得利率差额的好处，同时又可以获得较高的利息收入，但是要付出一笔掉期成本。

萨尔瓦多《国际经济学》课后习题详解(汇率的决定)【圣才出品】

第15章汇率的决定一、概念题1．绝对购买力平价理论（absolute purchasing-power parity theory）答：绝对购买力平价是指两国货币的汇率等于两国价格水平的比率，即R＝P/P*，其中R等于两国货币的汇率或即期汇率，P和P*分别为本国和外国总的价格水平。

绝对购买力平价认为，如果一价定律有效，在物价指数中各种可贸易商品所占的权重相等，那么，一国货币对外汇率主要是由两国货币在其本国所具有的购买力决定的，两种货币购买力之比决定了两国货币的兑换比率。

在自由贸易的条件下，通过自由贸易竞争，使两国汇率与两国物价水平保持相对稳定，国际收支趋向平衡。

2．巴拉萨-萨缪尔森效应（Balassa-Samuelson effect）答：巴拉萨-萨缪尔森效应是由巴拉萨与萨缪尔森1964年首次提出的，是指在经济增长率越高的国家，工资实际增长率也越高，实际汇率的上升也越快的现象。

当贸易产品部门（制造业）生产效率迅速提高时，该部门的工资增长率也会提高。

国内无论哪个产业，工资水平都有平均化的趋势，所以尽管非贸易部门（服务业）生产效率提高并不大，但是其他行业工资也会以大致相同的比例上涨。

这会引起非贸易产品对贸易产品的相对价格上升。

假定贸易产品（按外汇计算）的价格水平一定，这种相对价格的变化在固定汇率的条件下，会引起非贸易产品价格的上涨，进而引起总体物价水平（贸易产品与非贸易产品的加权平均）的上涨。

如果为了稳定国内物价而采取浮动汇率的话，则会引起汇率的上升。

无论哪种情况都会使实际汇率下降。

3．货币需求（demand for money）答：货币需求是指社会各部门在既定的收入或财富范围内能够而且愿意以货币形式持有的数量。

在现代高度货币化的经济社会里，社会各部门需要持有一定的货币去媒介交换、支付费用、偿还债务、从事投资或保存价值，因此便产生了货币需求。

货币需求通常表现为一国在既定时间上社会各部门所持有的货币量。

萨尔瓦多《国际经济学》课后习题详解(国际货币体系：过去、现在与未来)【圣才出品】

第21章国际货币体系：过去、现在与未来一、概念题1．调整（adjustment）答：调整是评价国际货币体系好坏的标准之一，是指国际货币体系纠正国际收支失衡的过程。

一个好的国际货币体系应该使调整成本和所需时间最小。

2．善意忽视（benign neglect）答：善意忽视是指在浮动汇率制度中，货币当局对汇率采取的一种相对放任的态度，较少地对外汇市场进行干预，而由货币本身价值的变化自动调节国际收支状况。

3．布雷顿森林体系（Bretton Woods System）答：布雷顿森林体系是第二次世界大战即将结束时创立的国际货币体系。

该体系是根据《国际货币基金协定》创立的。

主要特点是：规定美元与黄金挂钩，确认美国1934年1月规定的1美元含金量为0.888671克，即35美元＝1盎司黄金；规定其他各国货币按含金量同美元挂钩；市场汇率的波动幅度若超过平价上下1%，各国政府有义务进行市场干预；平价变动幅度如超过10%时则须得到国际货币基金组织的同意，由此形成了固定汇率制度，促进了国际贸易与金融关系的发展。

20世纪60年代频繁爆发的美元危机削弱了布雷顿森林体系，并迫使美国政府于1971年8月15日宣布停止美元兑换黄金。

1973年3月起，主要西方国家相继实行浮动汇率制，布雷顿森林体系正式宣告瓦解。

4．可靠性（confidence）答：可靠性是评价国际货币体系好坏的标准之一，是指国际货币体系调节机制具有正常运行的自动机制，能够保持国际储备的绝对价值和相对价值。

5．信用份额（credit tranches）答：信用份额是指国际货币基金组织为其成员国提供不受任何限制或附加条件约束的贷款的额度。

一般来说，一个成员国一年内的借款不得超过其配额的25%，每5年的借款总额不得超过其配额的125%，在此范围内，这些借款可自动获得。

当一国的借款超过所设定的信用份额时，国际货币基金组织就要收取越来越高的利息，而且进行越来越严格的监督，附加越来越多的条件，以确保该逆差国正在采取正确的措施以消除其赤字。

萨尔瓦多《国际经济学》笔记和习题及考研真题详解(浮动汇率与固定汇率制度下的价格调节机制)【圣才出品】

十万种考研考证电子书、题库、视频学习平台浮动汇率与固定汇率制度下的价格调节机制16.1 复习笔记一、汇率变动对国际收支的影响1．贬值与跌价（1）贬值贬值意味着汇率是固定的，是指货币当局把汇率从一个固定的或钉住的水平提升到另一水平。

（2）跌价跌价意味着汇率是浮动的，是指以外币表示的本币价格的降低，从汇率的定义出发，此时汇率上升。

（3）两者的联系由于贬值与跌价通常都是对价格操作以调节一国的经常项目和国际收支，它们都是价格调节机制，所以本章对它们一并讨论，即在考虑价格调节机制时，本章不做浮动汇率与固定汇率的区分。

2．贸易或弹性方法该传统的汇率模式假设没有自主的国际间个人资本流（即国际间个人资本流是为了弥补或支付临时贸易不平衡才被动发生的），一国通过变动汇率来削减其经常项目赤字（平衡十万种考研考证电子书、题库、视频学习平台收支）。

（经常项目的修正和国际收支盈余通常需要相反的技术）。

该模式以贸易流为基础，而且调节的速度取决于价格（汇率）的变化如何对进出口（弹性）做出反应，所以称之为贸易或弹性方法。

3．国际收支调节与汇率变动一国通常可以通过使其货币贬值或跌价，来调节国际收支逆差。

外汇供求曲线弹性越大，用来调节固定数额逆差所要求的贬值就越少。

其分析过程如下：如图16-1所示，当R＝1美元/1欧元时，美国每年对欧元的需求量为120亿欧元，而供给量为80亿欧元，所以美国的国际收支逆差为40亿欧元（AB）。

从曲线D€和曲线S€可以看出，美元贬值20%将完全消除逆差（E点）。

对于D€*和S€*，要消除逆差，则要求100%的贬值（E*点）。

十万种考研考证电子书、题库、视频学习平台图16-1 国际收支调节与汇率变动4．外汇需求曲线与供给曲线的推导如图16-2所示，在左图中，D M（R＝1美元/1欧元）和S M下，P M＝1欧元而Q M＝120亿单位，所以美国对欧元的需求量是120亿欧元（B′点），这相当于图16-1中的B 点。

萨尔瓦多《国际经济学》课后习题详解(国际资源流动与跨国公司)【圣才出品】

第12章国际资源流动与跨国公司一、概念题1．脑力流失（brain drain）答：脑力流失是指在一单位内，对其经营发展具有重要作用，甚至是关键性作用的人才非单位意愿的流走，或失去其积极性的现象。

在国际资源流动中则指一些高技术及受过高级训练的人才从发展中国家迁往发达国家以及从其他发达国家迁至美国的现象。

脑力流失在欠发达地区表现更为明显。

由于欠发达地区资源、机会的限制，具备高技能的人才容易流向机会和待遇良好的发达地区。

随着经济全球化和技术革命的进一步扩展，市场竞争利益激烈，脑力流失成为一种常态，频率越来越快。

这给人才流失的企业、地区和国家都带来了严重的不利影响。

只有“以人为本”，最大限度地调动人才的积极性，为人才提供良好的发展环境，才能更好地留住人才。

2．直接投资（direct investments）答：直接投资是指投资者将货币资金直接投入投资项目，形成实物资产或者购买现有企业的投资，通过直接投资，投资者便可以拥有全部或一定数量的企业资产及经营的所有权，直接进行或参与投资的经验管理。

直接投资包括对现金、厂房、机械设备、交通工具、通讯、土地或土地使用权等各种有形资产的投资和对专利、商标、咨询服务等无形资产的投资。

其中，对外直接投资是指一国通过资本的国际转移，将其某种特定商品的生产过程由本国转移到世界的其他国家。

对外直接投资实际上是以资本这一生产要素的贸易替代了自由贸易条件下的商品贸易。

3．横向一体化（horizontal integration）答：企业增长在战略上可分为一体化扩张和多样化扩张。

一体化扩张又可分为横向一体化（水平一体化）和纵向一体化（垂直一体化）。

横向一体化是指为了扩大生产规模、降低成本、巩固企业的市场地位、提高企业竞争优势、增强企业实力而与同行业企业进行联合的一种战略。

实质是资本在同一产业和部门内的集中，目的是实现扩大规模、降低产品成本、巩固市场地位。

国际化经营是横向一体化的一种形式。

经济学考研课后答案资料萨尔瓦多《国际经济学》(第12版)笔记和课后习题

萨尔瓦多《国际经济学》（第12版）笔记和课后习题（含考研真题）详解完整版>精研学习网>无偿试用20％资料全国547所院校视频及题库资料考研全套>视频资料>课后答案>往年真题>职称考试试读（部分内容）隐藏第1章绪论1.1复习笔记考点一：经济全球化▼1经济全球化的含义经济全球化是世界上各国和地区之间通过商品、服务及劳动力、资本、信息、技术、管理等生产要素的跨国界流动，寻求资源最优配置的一个相互联系、相互依赖并不断深化的过程。

2经济全球化的影响经济全球化是一把“双刃剑”，对任何国家来说，它既是机遇，也是挑战。

以发展中国家经济为例，探讨经济全球化所带来的积极和消极影响。

（1）积极影响①由于信息技术使空间距离极大地缩短，世界各地的竞争关系加剧，相互争夺稀缺的生产要素。

不断加剧的竞争也激发了国家的创造力和创新精神，从而使国家富裕起来，社会福利水平不断提高。

②现代通信技术以及复杂的计算机程序，加快了信息的流通，有助于人们消除不同资本市场的时间差。

③全球化意味着世界整体福利水平的增升和机会的增加。

发达国家和发展中国家的国民财富在经济全球化进程中均实现了迅速增长，同时，由于世界范围的国际分工，每个国家都拥有机会参与国际竞争。

④全球化有利于促进资本、技术、知识等生产要素在全球范围内的优化配置，给发展中国家提供了新的发展机遇。

⑤全球化有利于促进世界和平与稳定，使各国经济的发展越来越紧密地联系在一起，促进了国家之间沟通交流，增进了彼此之间的理解与信任。

⑥全球化促使发展中国家的出口商品结构优化。

资本的流入、跨国公司的直接投资活动和本国产业结构的调整，有利于发展中国家出口商品结构的改善。

同时经济全球化有利于发展中国家的整体改革。

（2）消极影响①增大了各国特别是发展中国家经济运行的风险。

受社会历史和经济发展水平的影响，发展中国家在国际竞争中处于不利地位，经济更脆弱。

②各国各地区的发展差异有可能进一步拉大。

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萨尔瓦多国际经济学同步习题Chapter 13: The Balance of PaymentsMultiple-choice Questions:1. Which of the following is false?A. A credit transaction leads to a payment from foreignersB. A debit transaction leads to a payment to foreigners*C. A credit transaction is entered with a negative signD. Double-entry bookkeeping refers to each transaction entered twice.2. Which of the following is a debit?A. The export of goodsB. The export of services*C. Unilateral transfers given to foreignersD. Capital inflows3. Capital inflows:A. refer to an increase in foreign assets in the nationB. refer to a reduction in the nation's assets abroadC. lead to a payment from foreigners*D. all of the above4. When a U.S. firm imports goods to be paid in three months the U.S. credits:A. the current accountB. unilateral transfers*C. capitalD. official reserves5. The receipt of an interest payment on a loan made by a U.S. commercial bank to a foreign resident is entered in the U.S. balance of payments as a:A. credit in the capital account*B. credit in the current accountC. credit in official reservesD. debit in unilateral transfers6. The payment of a dividend by an American company to a foreign stockholder represents:A. a debit in the U.S. capital accountB. a credit in the U.S. capital accountC. a credit in the U.S. official reserve account*D. a debit in the U.S. current account7. When a U.S. firm imports a good from England a pays for it by drawing on its poundsterling balances in a London Bank, the U.S. debits its current account and credits its:A. official reserve accountB. unilateral transfers accountC. services in its current account*D. capital account8. When the U.S. ships food aid to a developing nation, the U.S. debits:*A. unilateral transfersB. servicesC. capitalD. official reserves9. When the resident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds in a U.S. bank, the U.S.:A. credits capital for (1) and debits capital for (2)B. credits the current account and debits capitalC. debits capital and credits official reserves*D. debits capital for (1) and credits capital for (2)10. When a U.S. resident (1) purchases foreign treasury bills and pays by (2) drawing down his bank balances abroad, the U.S.:A. debits short-term capital and credits official reserves*B. debits capital for (1) and credits capital for (2)C. debits official reserves and credits capitalD. credits short-term capital and debits official reserves11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New York bank represents a:A. capital inflow*B. capital outflowC. outflow of official reservesD. debit in the current account12. Which is not an official reserve asset of the U.S.?A. U.S. holdings of Special Drawing RightsB. The U.S. reserve position in the International Monetary Fund*C. Foreign official holdings of U.S. dollarsD. Official holdings of foreign currencies by U.S. monetary authorities13. The capital account of the U.S. includes:A. the change in U.S. assets abroad and foreign assets in the U.S.*B. the change in U.S. assets abroad and foreign assets in the U.S., other than official reserve assetsC. all financial assetsD. all but current account transactions14. Accommodating items are:A. transactions in official reserve assetsB. the items below the lineC. needed to balance international transactions*D. all of the above15. Which of the following is false?*A. a net debit balance in the current and capital accounts measures the surplus in the nation's balance of paymentsB. a balance of payments deficit must be settled by a net credit in the official reserve accountC. a deficit in the balance of payments can be measured by the excess of credits over debits in the official reserve accountD. a net debit balance in the official reserve account refers to a surplus思考题：以2009年中美两国国际收支平衡表为例，分析两国国际经济交易呈现出哪些不同特征？战后美国出现大的贸易失衡，其原因和影响是什么？中国的外汇储备量世界第一，其原因是？有何利弊？Chapter 14: Foreign Exchange Markets and ExchangeRatesMultiple-choice Questions:1. Which is not a function of the foreign exchange market?A. to transfer funds from one nation to anotherB. to finance trade*C. to diversify risksD. to provide the facilities for hedging2. An increase in the pound price of the dollar represents:*A. an appreciation of the dollarB. a depreciation of the dollarC. an appreciation of the poundD. a devaluation of the dollar3. A change from $1=€1 to $2=€1 represents*A. depreciation of the dollarB. an appreciation of the dollarC. a depreciation of the poundD. none of the above4. A shortage of pounds under a flexible exchange rate system results in:A. a depreciation of the pound*B. a depreciation of the dollarC. an appreciation of the dollarD. no change in the exchange rate5. An effective exchange rate is a:A. spot rateB. forward rateC. flexible exchange rates*D. weighted average of the exchange rates between the domestic currency and the nation's most important trade partners6. The exchange rate is kept within narrow limits in different monetary centers by:A. hedging*B. exchange arbitrageC. interest arbitrageD. speculation7. If SR=$1/€1 and the three-month FR=$0.99/€1:*A. the euro is at a three-month forward discount of 1%B. the euro is at a forward discount of 1% per yearC. the euro is at a three-month forward premium of 1%D. the dollar is at a three-month forward discount of 1%8. Hedging refers to:A. the acceptance of a foreign exchange risk*B. the covering of a foreign exchange riskC. foreign exchange speculationD. foreign exchange arbitrage9. A U.S. importer scheduled to make a payment of €100,000 in three months can hedgehis foreign exchange risk by:A. purchasing $100,000 in the forward market for delivery in three monthsB. selling €100,000 in the spot market for delivery in three months*C. purchasing €100,000 in the forward market for delivery in t hree monthsD. selling €100,000 in the spot market for delivery in three months10. If the three-month FR=$1/€1 and a speculator anticipates that SR=$1.02/€1 in threemonths, he can earn a profit by:A. selling euros forward*B. purchasing euros forwardC. selling dollars forwardD. purchasing dollars forward11. Destabilizing speculation refers to the:*A. sale of the foreign currency when the exchange rate falls or is lowB. purchase of the foreign currency when the exchange rate falls or is lowC. sale of the foreign currency when the exchange rate rises or is highD. all of the above12. A capital outflow from New York to Frankfurt under covered interest arbitrage can take place if the interest differential in favor of Frankfurt is:A. smaller than the forward discount on the euroB. equal to the forward discount on the euro*C. larger than the forward discount on the euroD. none of the above.13. According to the theory of covered interest arbitrage, if the interest differential in favor of the foreign country exceeds the forward discount on the foreign currency, there will be a:A. capital inflow under covered interest arbitrage*B. capital outflow under covered interest arbitrageC. no capital flow under a covered interest arbitrageD. any of the above14. When the interest differential in favor of the foreign country is equal to the forwardpremium on the foreign currency, we:A. are at covered interest arbitrage parity*B. are not at covered interest arbitrage parityC. may or may not be at covered interest arbitrage parityD. we cannot say without additional information15. The currency of the nation with the lower interest rate is usually at a*A. forward premiumB. forward discountC. covered interest arbitrage parityD. any of the above思考题：1. 我国外汇市场与美国等发达国家的外汇市场相比有什么不同？为什么？2. 为什么在浮动汇率之下国际收支逆差或顺差的测度并不是十分适当的？3. 如何看待以美国为首的国家要求人民币升值问题？4. 如何看待人民币国际化的前景？Chapter 15: Exchange Rate DeterminationMultiple-choice Questions:1. Which is correct with respect to the absolute PPP theory?A. It postulates that the exchange rate between two currencies is equal to the ratio of the price levels in the two nationsB. it does not take into consideration transportation costs or other obstructions to the flow of international tradeC. can be very misleading*D. all of the above2. The relative purchasing power-parity theory postulates that:A. The equilibrium exchange rate is equal to the ratio of the price level in the two nations*B. the change in the exchange rate over a period of time should be proportional to the relative change in the price level in the two nations over the same time periodC. the change in the exchange rate over a period of time should be proportional to the absolute change in the price level in the two nations over the same time periodD. the exchange rate at a period of time should be proportional to the relative prices in the two nations3. The relative PPP theory gives better results:*A. in the long run than in the short runB. when structural changes take placeC. the greater is the level of commodity aggregationD. in tests including developed and developing countries4. The monetary approach to the balance of payments:A. views the balance of payments as an essentially monetary phenomenonB. rests on the purchasing power-parity theoryC. postulates that money plays the crucial role in the long run both as a disturbance and adjustment in the nation's balance of payments*D. all of the above5. If a nation's money GDP is 100 and the velocity of circulation of money is 4, the quantity demanded of money in the nation is:A. 20*B. 25C. 50D. 1006. The monetary base of the nation refers to the:A. domestic credit created by the nation's monetary authorities or the domestic a ssets backing of the nation's money supplyB. international reserves of the nation*C. domestic credit created by the nation's monetary authorities or the domestic assets backing of the nation's money supply plus the international reserves of the nationD. legal reserve requirements in the nation7. If the legal reserve requirement of the nation is 25%, the money multiplier in the nation is:A. 2*B. 4C. 5D. 68. According to the monetary approach to the balance of payments, a deficit in the nation's balance of payments results from:*A. an excess in the nation's stock of money supply that is not eliminated or corrected by the nation's monetary authoritiesB. an excess in the stock of money demanded in the nation that is not satisfied by domestic monetary authoritiesC. an excess in the stock of money demanded in the other nation that is not satisfied by the other nation's monetary authoritiesD. an excess of imports over exports in the nation9. If the increase in a nation's money supply grows less rapidly than its GNP, the nation will face a:A. once-and-for-all balance of payments deficitB. once-and-for-all balance of payments surplusC. continuous balance of payments deficit*D. continuous balance of payments surplus10. According to the monetary approach to the balance of payments a non-reserve currency nation: *A. has no control over its money supply in the long-run under fixed exchange ratesB. has no control over its money supply in the short-run under fixed exchange ratesC. has no control over its money supply in the long-run under flexible exchange ratesD. retains complete control over its money supply in the long-run11. According to the monetary approach to the balance of payments, a surplus nation will have to give up in the long-run its goal of:A. price stabilityB. fixed exchange rate*C. price stability or fixed exchange rateD. price stability and fixed exchange rate12. Which of the following statements is true with respect to the monetary approach to the balance of payments:A. the interest differential in favor of the dollar equals the expected rate of appreciation of the euroB. the interest differential in favor of the dollar equals the expected rate of depreciation of the dollarC. the interest differential in favor of the pound equals the expected rate of depreciation of the pound*D. all of the above13. The monetary approach assumes that the following assumption holds:*A. domestic and foreign bonds are perfect substitutesB. covered interest arbitrage holdsC. expectations do not affect the future spot exchange rate.D. the risk premium is positive14. The portfolio balance approach:A. can be regarded as an extension of the monetary approachB. deals with money and other domestic and foreign financial assetsC. can more readily be extended than the monetary approach to deals with the real sector*D. all of the above15. According to the portfolio balance approach, an increase in the expected appreciation of the foreign currency leads domestic residents to increase:A. the demand for domestic moneyB. the demand for the domestic bond*C. the demand for the foreign bondD. the risk premium16. According to the portfolio balance approach, a reduction in the risk premium on the foreign bond leads domestic residents to increase the demand for the:A. domestic moneyB. domestic bond*C. foreign bondD. all of the above17. According to the portfolio balance approach, an increase in domestic real income or GDP leads domestic residents to increase the demand for the:*A. domestic moneyB. domestic bondC. foreign bondD. all of the above18. According to the portfolio balance approach, an increase in domestic wealth leads domestic residents to increase the demand for the:A. domestic moneyB. domestic bondC. foreign bond*D. all of the above19. Which of the following is false with regard to exchange rate dynamics:A. seeks to explain exchange rate fluctuations over time*B. results because the real sector adjusts instantaneously to disturbancesC. in the short run, the exchange rate overshoots its long-run equilibriumD. results from the stock adjustment in financial assets20. An unexpected increase in the U.S. money supply leads to:A. an immediate reduction in the U.S. interest rateB. an immediate larger dollar depreciationC. a gradual appreciation of the dollar over time*D. all of the above思考题：现代汇率理论和传统汇率理论格式什么？他们有何区别？每一种理论的实质是什么？他们之间的关系如何？什么事购买力平价理论？它包括哪两种形式？各有何作用？如何对它们进行经验检验？结果如何？根据货币分析法，在辅导汇率替下下，什么决定了汇率的至极其变得？从货币分析法的观点出发，与浮动汇率体系和固定汇率体系相比，有管理的浮动汇率体系有何特点？资产市场分析法与货币分析法有何不同？两者是怎样解释在当今外汇市场中经常出现的汇率超调的？经验检验是支持还是拒绝者两种观点？我们还需要做哪些理论和经验的工作？在可预见的将来，这种工作的成果将是什么？PART FOUR:OPEN ECONOMY MACROECONOMICS AND THE INTERNATIONAL MONETARY SYSTEMChapter 16: The Price Adjustment Mechanisms withFl exible and Fixed Exchange RatesMultiple-choice Questions:1. The more elastic is a nation's demand and supply of foreign exchange the:A. larger is the devaluation or depreciation required to correct a deficit of a given size in the nation's balance of payments*B. smaller is the devaluation or depreciation required to correct a deficit of a given size in the nation's balance of paymentsC. less feasible is a flexible exchange rate systemD. less feasible is a devaluation as a policy to correct a deficit in the nation's balance of payments2. A nation's demand curve for foreign exchange is derived from the:A. foreign demand curve for the nations' exportsB. nation's supply curve of exports*C. domestic demand curve for imports and the foreign supply curve for the nation's importsD. foreign demand curve and the domestic supply curve for the nation's exports3. A depreciation of a nation's currency shifts:A. down its supply curve of imports in terms of the foreign currencyB. up its demand curve of imports in terms of the foreign currency*C. down its demand curve of imports in terms of the foreign currencyD. down its demand curve of imports in terms of the domestic currency4. When a nation's demand curve for imports in terms of the foreign currency is vertical:*A. the nation's demand curve for the foreign currency has zero elasticityB. the nation's demand for the currency is elasticC. the nation's supply of the currency is verticalD. the other nation's demand for the nation's currency has zero elasticity5. A depreciation of a nation's currency shifts:A. down its supply curve of exports in terms of the domestic currency*B. down its supply curve of exports in terms of the foreign currencyC. down its demand curve for exports in terms of the foreign currencyD. up its supply curve of imports in terms of the foreign currency6. When a nation's demand curve for exports in terms of the foreign currency is inelastic:*A. the nation's supply curve of the foreign currency is negatively inclinedB. the nation's supply curve of the foreign currency is verticalC. the nation's demand curve for the foreign currency is negatively inclinedD. the other nation's supply curve of the nation's currency is negatively inclined7. For a small nation:A. the foreign supply of exports is horizontalB. the domestic demand for imports is horizontal*C. the foreign demand for its exports is horizontalD. the foreign supply of exports is vertical8. A depreciation of the nation's currency causes its terms of trade to:A. deteriorateB. improveC. remain unchanged*D. any of the above9. A depreciation of a nation's currency is:*A. inflationary for the nationB. deflationary for the nationC. deflationary for the trade partnerD. any of the above10. The foreign exchange market is stable when:A. The demand curve of foreign exchange is negatively inclined and the supply curve of foreign exchange is positively inclinedB. the supply curve of foreign exchange is negatively inclined and less elastic than the demand curveC. the sum of the absolute values of the elasticity of the nation's demand of imports and the foreign demand for the nation's exports is greater than one*D. all of the above11. The United States has a trade problem with Japan because the U.S. trade deficit with Japan:A. is very largeB. has persisted for a long timeC. did not seem to decline when the dollar depreciated sharply with respect to the yen*D. all of the above12. The mint parity refers to the:A. gold export pointB. gold import pointC. equilibrium exchange rate*D. ratio of the price of a unit of gold in terms of the currency of two nations13. Under the gold standard:A. each nations defines the price of gold in terms of its currency and then stands ready to buy and sell any amount of gold at that priceB. there is a fixed relationship between any two currencies called the mint parityC. the exchange rate is determined by demand and supply between the gold points and is prevented from moving outside the gold points by gold shipmentsD. all of the above14. Which of the following statements is not true with regard to the price-specie-flow mechanism:A. relies on the quantity theory of moneyB. requires that nations allow their money supply to rise when the nation has a surplus in its balance of payments and to fall when the nation has a deficit*C. requires that the price elasticity of demand for imports and exports be equal to zeroD. it was introduced by David Hume to show the futility of the mercantilists' prescription that a nation should attempt to continuously accumulate gold15. A currency board refers to the case where:A. the central bank sterilizes changes in the money supply resulting from balance of payments disequilibria*B. the money supply of the nation is backed by 100 percent international reservesC. the nation operates under flexible exchange ratesD. the nation retains firm control over its money supply思考题：贬值为什么会带来通货膨胀趋势？为的外汇市场的马歇尔-勒纳条件是什么？贬值能否不改变国际收支状况？弹性悲观主义背着注意的含义是？它是怎么产生的？为什么不合理？针对外汇市场的稳定性以及外汇供求曲线的弹性，目前普遍的官邸时什么？什么是货币传递？它与国际竞争有什么关系？Chapter 17: The Income Adjustment Mechanism and Synthesis of Automatic AdjustmentsMultiple-choice Questions:1. In order to isolate the income adjustment mechanism, we assume that:A. the nation operates under a fixed exchange rate systemB. all prices, wages, and interest rates are constantC. the nation operates at less than full employment*D. all of the above2. The marginal propensity to consume measures:A. the ratio of imports to incomeB. the ratio of income to imports*C. the change in imports over the change in incomeD. the change in income over the change in imports3. The income elasticity of imports is given by:A. the percentage change in income over the percentage change in importsB. the change in imports over the change in income*C. the marginal propensity to import over the average propensity to importD. the average propensity to import over the marginal propensity to import4. The equilibrium level of national income in an open economy is given by:A. I + X = S + MB. X - M = S - IC. I + (X-M) = S*D. all of the above5. If MPS=0.2 and MPM=0.3, the foreign trade multiplier is:A. 5B. 3.3C. 3*D. 26. When S exceeds I, an open economy has a trade balance:*A. surplusB. deficitC. equilibriumD. any of the above7. The S-I function rises because:A. rising I are subtracted from constant S*B. constant I are subtracted from rising SC. rising I are subtracted from rising SD. constant I are added to falling S8. An autonomous fall in M from a condition of equilibrium in national income and in thetrade balance results in the nation's income:A. rising and its trade balance turning to deficitB. falling and its trade balance turning into surplus*C. rising and its trade balance turning into surplusD. rising and the trade balance remaining in equilibrium9. An autonomous increase in S from a condition of equilibrium in national income and in thetrade balance results in the nation's income:A. rising and its trade balance turning into surplus*B. falling and its trade balance turning into surplusC. falling and its trade balance turning into deficitD. rising and its trade balance turning into deficit10. The foreign trade multiplier of nation 1 is largest:A. when there are no foreign repercussionsB. with foreign repercussions for an autonomous increase in nation 1's X that replace domesticproduction in nation 2*C. with foreign repercussions for an autonomous increase in I in nation 1D. with foreign repercussions for an autonomous increase in I in nation 211. By itself, the automatic income adjustment mechanism is likely to bring about:*A. incomplete adjustmentB. complete adjustmentC. perverse adjustmentD. any of the above12. A depreciation of a deficit nation's currency from a condition of full employment:*A. may improve the nation's trade balanceB. will improve the nation's trade balanceC. will leave the nation's trade balance unchangedD. will cause a deterioration in the nation's trade balance13. The improvement in a nation's balance of trade and payments resulting from a depreciationof its currency is:A. reinforced by the induced fall in imports*B. partly neutralized by the induced rise in importsC. partly neutralized by the induced fall in importsD. any of the above.14. In the real world, the automatic income, price, and interest adjustment mechanisms, ifallowed to operate, are likely to:A. reinforce each other but still result in incomplete adjustment*B. reinforce each other and result in complete adjustmentC. work at cross purposes from each other and result in incomplete adjustmentD. work at cross purposes from each other and result in perverse adjustment15. A benefit of automatic adjustment mechanisms is that they:A. avoid the possibility of policy mistakesB. avoid the time lags associated with adjustment policiesC. begin to operate as soon as balance of payments disequilibria develop*D. all of the above思考题：自动收入调节机制怎样调节一国的国际收支？为单独分析该机制，我们假定哪些变量不变？怎样理解自动收入调节机制带来贸易差额的不完全调节？什么是弹性法与吸收法？吸收法如何把自动价格与收入调节机制综合起来？从充分就业开始，如果允许逆差国货币贬值，其贸易差额将会怎样？实际国内吸收如何才能减少？什么事自动货币调节？他们如何帮助调节国际收支失衡？在固定或有管理的汇率制度下，如果一国处于非充分就业，所有的自动调节机制如何共同调节其国际收支逆差？每种自动调节机制的缺点是什么？Chapter 18: Open Economy Macroeconomics:Adjustment PoliciesMultiple-choice Questions:1. The most important economic objective of industrial nations is:A. external balance*B. internal balanceC. a reasonable rate of growthD. an equitable distribution of income2. In order to achieve internal and external balance simultaneously, a nation must usually use at least:A. one policy*B. two policiesC. three policiesD. cannot say3. Points below internal balance line YY in the Swan diagram indicate:A. a balance of payments deficitB. a balance of payments surplus*C. unemploymentD. inflation4. To correct a balance of payments deficit and unemployment a nation requires a:A. devaluation and expansionary fiscal and monetary policiesB. devaluation and contractionary fiscal and monetary policies*C. devaluation and either expansionary or contractionary fiscal and monetary policiesD. revaluation and either expansionary or contractionary fiscal and monetary policies5. To correct a balance of payments deficit and inflation a nation requires a:A. devaluation and expansionary fiscal and monetary policiesB. devaluation and contractionary fiscal and monetary policies*C. devaluation or revaluation and contractionary fiscal and monetary policiesD. revaluation and either expansionary or contractionary fiscal and monetary policies6. To correct a balance of payments surplus and unemployment a nation requires a:A. devaluation and expansionary fiscal and monetary policiesB. devaluation and contractionary fiscal and monetary policies*C. devaluation or revaluation and expansionary fiscal and monetary policiesD. revaluation and either expansionary or contractionary fiscal and monetary policies7. To correct a balance of payments surplus and inflation a nation requires a:A. devaluation and expansionary fiscal and monetary policiesB. devaluation and contractionary fiscal and monetary policies*C. devaluation and either expansionary or contractionary fiscal and monetary policiesD. revaluation and either expansionary or contractionary fiscal and monetary policies8. The IS curve is negatively inclined because:A. the higher is the rate of interest the smaller is the quantity of money demanded for speculative purposesB. higher rates of interest lead to greater capital flows*C. at lower interest rates the levels of investment and national income are higherD. at lower interest rates the level of national income is lower9. If the BP curve is above the point of intersection of the IS and LM curves, the nation will:*A. have a balance of payments deficit at that level of incomeB. have a balance of payments surplus at that level of incomeC. be in recessionD. face inflation10. To correct unemployment from a condition of external balance, a nation will usually have to use:A. expansionary fiscal policy onlyB. easy monetary policy onlyC. expansionary fiscal policy and easy monetary policy*D. expansionary fiscal policy and tight monetary policy11. To achieve external balance and correct a recession, a nation will always have to use tight monetary policy if at the full employment level of national income the nation's BP curve is:*A. above the LM curveB. below the LM curveC. steeper than the LM curveD. above the IS curve12. In a world of perfectly elastic international capital flows and fixed exchange rates:A. fiscal policy is completely ineffective*B. monetary policy is completely ineffectiveC. both fiscal and monetary policies are completely ineffective。