西方经济学双语练习题
大学专业试卷西方经济学A卷
西方经济学（双语）试题（A卷）注意：请在答题纸上作答，考试时间120分钟，可以翻阅纸质字典，不得携带电子词典及手机等。
Part 1: True-False question (10×1′=10′)1. Economists use the word equity to describe a situation in which every member of society would have the same income. （）2. When economists refer to people making decisions “at the margin” they mean that people compare the costs and benefits of each decision. ( )3. If a good is “normal,” then an increase in income will result in a decrease in the demand for the good. ( )4. When the price of Pokemon cards are $0.50, the quantity demanded is 400 cards per day. When the price falls to $0.40, the quantity demanded increases to 600. Given this information and using the midpoint method, you know that the demand for Pokemon cards is elastic. ( )5. Payroll taxes cause wages received by workers to fall and wages paid by firms to rise. ( )6. The relative price of two goods equals the marginal rate of substitution. ( )7. If the price of apples increases more than the price of other goods, the weight of the apples in the CPI stays the same, but should decrease to accurately reflect the change in the cost-of-living. ( )8. If the government wanted to decrease interest rates and increase investment it could reduce taxes on interest income. ( )9. If an industry becomes unionized, wages in that industry tend to rise, while employment in that industry tends to fall. ( )10. FOMC policy decisions have an important influence on the economy’s rate of inflation and level of employment in the long run. ( )Part 2: Single Choice (40×1′=40′)1. Economics deals primarily with the concept of （）a. changeb. powerc. povertyd. scarcity2. The opportunity cost of an item is ( )a. what you give up to get that item.b. always equal to the dollar value of the item.c. always less than the dollar value of the item.d. the number of hours needed to earn the money to buy it.3. A market is a ( )a. place where only buyers come together.b. place where only sellers meet.c. group of people with common desires.d. group of buyers and sellers of a particular good or service.4. In a free market system, what is the mechanism for rationing scarce resources? ( )a. the governmentb. pricesc. buyersd. sellers5. Economists compute the price elasticity of demand as ( )a. percentage change in the price divided by the percentage change in quantity demanded.b. change in quantity demanded divided by the change in the price.c. percentage change in the quantity demanded divided by the percentage change in price.d. percentage change in the quantity demanded divided by the percentage change in income.6. Suppose the price of product X is reduced from $1.45 to $1.25 and, as a result, the quantity of X demanded increases from 2,000 to 2,200. Using the midpoint method, the price elasticity of demand for X in the given price range is ( )a. 0.64b. 1.00c. 1.55d. 2.007. Price controls are ( )a. established by firms with monopoly power.b. used to make markets more efficient.c. nearly always effective in eliminating inequities.d. usually enacted when policymakers believe that the market price of a good or service is unfair to buyers or sellers.8. What is true about the burden of a tax imposed on popcorn? ( )a. Sellers bear the entire burden of the tax.b. Buyers bear the entire burden of the tax.c. Buyers and sellers share the burden of the tax.d. The government bears the entire burden of the tax.9. The equilibrium of supply and demand in a market ( )a. maximizes the profits of producers.b. minimizes the costs incurred by consumers.c. maximizes the total benefits received by buyers and sellers.d. minimizes the expenditures of buyers.10. If a consumer is willing and able to pay $15.50 for a particular good but the price of the good is $16.00, then the ( )a. market must not be a perfectly competitive market.b. consumer would have consumer surplus of $0.50.c. consumer would not purchase the good and would not have any consumer surplus.d. consumer would increase his/her willingness and ability to pay by earning more.11. When a tax is levied on a good ( )a. buyers are worse off but sellers are not.b. sellers are worse off but buyers are not.c. neither buyers nor sellers are worse off.d. both buyers and sellers are worse off.12. As the size of a tax increases ( )a. the deadweight loss from the tax remains constant.b. the deadweight loss from the tax declines.c. the deadweight loss from the tax increases.d. no one knows how the deadweight loss changes because no tax has ever been reduced.13. Countries usually impose restrictions on free foreign trade to protect ( )a. domestic consumersb. foreign consumersc. foreign producersd. domestic producers14. When a quota is imposed on a market the ( )a. supply curve (above the world price) shifts to the left by the amount of the quota.b. supply curve (above the world price) shifts to the right by the amount of the quota.c. demand curve (above the world price) shifts to the right by the amount of the quota.d. demand curve (above the world price) shifts to the left by the amount of the quota.15. An example of an implicit cost of production would be the ( )a. cost of raw materials for a printing company to print books.b. income an entrepreneur could have earned working elsewhere.c. cost of a delivery truck in a business that rarely makes deliveries.d. All of the above are correct.16. Economies of scale arise when ( )a. an economy is self-sufficient in production.b. individuals in a society are self-sufficient.c. workers are able to specialize in a particular task.d. fixed costs are large relative to variable costs.17. In a competitive market, the actions of any single buyer or seller will ( )a. have a negligible impact on the market price.b. adversely affect the profitability of more than one firm in the market.c. cause a noticeable change in market production and price.d. have little effect on market production, but ultimately change price.18. In a perfectly competitive market, the process of entry or exit ends when ( )a. firms are operating with excess capacity.b. firms are making zero economic profit.c. firms experience decreasing marginal revenue.d. price is equal to marginal cost.19. A monop oly’s marginal cost will most likely ( )a. exceed its marginal revenue.b. be less than average fixed cost.c. be less than the market price of its goods.d. equal average total cost.20. OPEC often holds oil production below capacity in an effort to ( )a. compel consumers to search for oil substitutes.b. compel consumers to conserve oil.c. keep prices above the competitive level.d. create a shift in the demand for oil.21. Because each oligopolist cares about its own profit rather than the collective profit of their industry ( )a. society is worse-off.b. they are unable to maintain monopoly power.c. they are able to maximize industry profits.d. All of the above are correct.22. Very often, the reason that players can solve th e prisoners’ dilemma game and reach the most profitable outcome is that ( )a. the game becomes more competitive.b. they play the game not once, but many times.c. each player tries to capture a large portion of the market share.d. All of the abov e can solve the prisoners’ dilemma.23. A budget constraint ( )a. shows the consumption bundles that a consumer can afford.b. reflects the desire by consumers to increase their income.c. represents the bundles of consumption that make a consumer equally happy.d. shows the prices that a consumer chooses to pay for products he consumes.24. When indifference curves are bowed inward toward the origin, ( )a. it is unlikely that consumers will be willing to engage in trade.b. people can only increase satisfaction by consuming more of all commodities.c. people are less inclined to trade away goods that they have an abundance of.d. the marginal rate of substitution decreases as a consumer moves down an indifference curve.25. National income is defined as ( )a. all income produced within a country.b. the income received by the national government.c. the total income earned by a nation’s residents from the production of goods and services within the borders of the country.d. the to tal income earned by a nation’s residents in the production of goods and services.26. The best measure of a country’s production of goods and services is ( )a. real GDP.b. real NNP.c. nominal GDP.d. nominal GNP.27. The inflation rate is defined as the ( )a. cost of inflation.b. cost of borrowing.c. percentage change in real GDP from the previous period.d. percentage change in the price level from the previous period.28. If the nominal interest rate is 8% and rate of inflation is 2%, the real interest rate is ( )a. 16%.b. 10%.c. 6%.d. 4%.29. A certificate of indebtedness that specifies the obligations of the borrower to the holder is called a ( )a. stock.b. mutual fund.c. bond. d. All of the above are correct.30. An increase in the budget deficit shifts the ( )a. demand for loanable funds left.b. demand for loanable funds right.c. supply of loanable funds left.d. supply of loanable funds right.31. Which of the following people is counted as unemployed according to official statistics? ( )a. Nancy, who is on temporary layoffb. Gary, who has retired and is not looking for workc. Brian, a full-time student who is not looking for workd. All of the above are correct.32. Sectoral shifts in the economy ( )a. create structural unemployment.b. immediately reduce unemployment.c. on net leave unemployment unchanged.d. increase unemployment due to job search.33. Which of the following best illustrates the unit of account function of money? ( )a. You list prices for candy sold on your Web site, , in dollars.b. You pay for tickets to a WNBA game with dollars.c. You keep $10 in your backpack for emergencies.d. None of the above is correct.34. If banks choose to hold more excess reserves, ( )a. required reserves in the banking system increase.b. the money multiplier will increase.c. the discount rate will increase.d. the money supply falls.35. When the price level rises, the number of dollars needed to buy a representative basket of goods ( )a. decreases, so the value of money rises.b. decreases, so the value of money falls.c. increases, so the value of money rises.d. increases, so the value of money falls.36. Given a nominal interest rate of 20 percent, in which case would you earn the highest after-tax real interest rate? ( )a. Inflation is 5 percent; the tax rate is 20 percent.b. Inflation is 4 percent; the tax rate is 30 percent.c. Inflation is 3 percent; the tax rate is 40 percent.d. The after-tax real interest rate is the same for all of the above.37. If the money supply growth rate permanently increased from 10 percent to 20 percent we would expect that inflation and nominal interest rates would both increase ( )a. by more than 10 percentage points.b. by 10 percentage points.c. but by less than 10 percentage points.d. None of the above is correct.38. Economists understand that people respond to ( )a. the wishes of policymakers.b. tax breaks, but not tax hikes.c. threats more than rewards.d. incentives.39. Which of the following is the most correct statement about the relationship between inflation and unemployment? ( )a. In the long run, reducing inflation is associated with rising unemployment.b. In the short run, reducing inflation is associated with falling unemployment.c. In the long run, reducing inflation is associated with falling unemployment.d. In the short run, reducing inflation is associated with rising unemployment.40. Almost all variation in living standards is attributable to differences in countries’ ( )a. population growth rates.b. endowments of natural resources.c. defense budgets.d. productivity.Part 3: Answer following questions (4×5′=20′)1. Draw the circular flow diagram, mark the flow of goods and service, the flow of money according to the following events:(1) Professor Zhang bought a new house by $500,000.(2) Construction firm pay Tom (worker) $ 800 as the wage.(3) Mr. Black got dividend $10,000 from a firm as one of the stock-holder.2. How will following events influence the GDP of U.S. by expenditure method?(1)Boeing Company sold a plane to the U.S. Air Force.(2)Boeing Company sold a plane to the U.S. Air Company.(3)Boeing Company sold a plane to the Franc Air Company.(4)Boeing Company sold a plane to Mr. Cross.(5)Boeing Company produced a plane which will be sold in the next half year.3. Who control the money supply? How does it control?4. Suppose Iran and Iraq both sell crude oil. If Iran affords a high production while Iraq affords a high production, Iran can get $40 billion. If Iran affords a low production while Iraq affords a high production, Iran can get $30 billion. If Iran affords a high production while Iraq affords a low production, Iran can get $60 billion. If Iran affords a low production while Iraq affords a low production, Iran can get $50 billion. If Iran affords a high production while Iraq affords a high production, Iraq can get $40 billion. If Iran affords a low production while Iraq affords a high production, Iraq can get $60 billion. If Iran affords a high production while Iraq affords a low production, Iraq can get $30 billion. If Iran affords a low production while Iraq affords a low production, Iraq can get $50 billion. Try to find the Nash equilibrium.Part 4: Analyze following questions (15′×2=30′)1． The equilibrium of orange market and orange-picking market （15′）Suppose the bad weather decrease the harvest of orange in Florida.（1） Try to analyze how orange price changes and how marginal product of orange-pickingchanges.（3′）（2） Suppose consumer ’s demand for orange is perfect elastic. Try to analyze how the demandfor orange-picking change? How does the equilibrium wage of orange-pickers change?(draw pictures of orange market and orange-picking market to analyze)（3′）（3）Suppose consumer’s demand for orange is perfect inelastic. Try to analyze how the demand for orange-picking change? How does the equilibrium wage of orange-pickers change? (draw a picture of orange market and orange-picking market to analyze) (Reference: how does the equilibrium quantity change in orange market?)（3′）（4）Suppose we take new technique in orange picking such as using machine. Can you analyze the change of equilibrium wage in orange picking? (Reference: Is it similar with the influence of bad weather?)（3′）（5）Suppose the harvest of apple make some workers turn to pick apples. Can you analyze the change of equilibrium wage in orange picking? What is the influence to orange price?Draw pictures to analyze.（3′）2．Price discrimination and social welfare（15′）Suppose you live in a town with 300 adults and 200 children. You are planning to hold a performance to earn money. The fixed cost of performance is $2,000, while the marginal cost of（1）In order to get maximum profit, what price will you decide for adult ticket? How many adults and children will watch the performance? What price will you decide for children ticket? How much profit can you earn? How much is the social welfare? Is it an efficient result?（4′）（2）If the government pass a law, and price discrimination is illegal now. What is your price now? How much profit can you earn? How many adults and children will watch the performance? How much is the social welfare?（2′）（3）Price discrimination is illegal now. How do your welfare, adults’ welfare and children’s welfare change?（3′）（4）If the fixed cost is $2,500 instead of $2,000. Will it change your decision on price in question (1)?（2′）（5）If the fixed cost is $2,500 instead of $2,000. Will it change your decision on price in question (2)? If you choose to give up the performance, is it a good choice according to social welfare maximum?（4′）。
国际经济学英文题库（最全版附答案）
【国际经济学】英文题库Chapter 1: IntroductionMultiple-Choice Questions1. Which of the following products are not produced at all in the United States?*A. Coffee, tea, cocoaB. steel, copper, aluminumC. petroleum, coal, natural gasD. typewriters, computers, airplanes2. International trade is most important to the standard of living of:A. the United States*B. SwitzerlandC. GermanyD. England3. Over time, the economic interdependence of nations has:*A. grownB. diminishedC. remained unchangedD. cannot say4. A rough measure of the degree of economic interdependence of a nation is given by:A. the size of the nations' populationB. the percentage of its population to its GDP*C. the percentage of a nation's imports and exports to its GDPD. all of the above 5. Economic interdependence is greater for:*A. small nationsB. large nationsC. developed nationsD. developing nations6. The gravity model of international trade predicts that trade between two nations is larger A. the larger the two nationsB. the closer the nationsC. the more open are the two nations*D. all of the above7. International economics deals with:A. the flow of goods, services, and payments among nationsB. policies directed at regulating the flow of goods, services, and paymentsC. the effects of policies on the welfare of the nation*D. all of the above 8. International trade theory refers to:*A. the microeconomic aspects of international tradeB. the macroeconomic aspects of international tradeC. open economy macroeconomics or international financeD. all of the above 9. Which of the following is not the subject matter of international finance?A. foreign exchange marketsB. the balance of payments*C. the basis and the gains from tradeD. policies to adjust balance of payments disequilibria10. Economic theory:A. seeks to explain economic eventsB. seeks to predict economic eventsC. abstracts from the many detail that surrounds an economic event*D. all of the above11. Which of the following is not an assumption generally made in the study of inter national economics?A. two nationsB. two commodities*C. perfect international mobility of factorsD. two factors of production12. In the study of international economics:A. international trade policies are examined before the bases for tradeB. adjustment policies are discussed before the balance of paymentsC. the case of many nations is discussed before the two-nations case*D. none of the above13. International trade is similar to interregional trade in that both must overcome:*A. distance and spaceB. trade restrictionsC. differences in currenciesD. differences in monetary systems14. The opening or expansion of international trade usually affects all members of so ciety: A. positivelyB. negatively*C. most positively but some negativelyD. most negatively but some positively15. An increase in the dollar price of a foreign currency usually:A. benefit U.S. importers*B. benefits U.S. exportersC. benefit both U.S. importers and U.S. exportersD. harms both U.S. importers and U.S. exporters16. Which of the following statements with regard to international economics is true?A. It is a relatively new field*B. it is a relatively old fieldC. most of its contributors were not economistsD. none of the above思考题：1.为什么学习国际经济学非常重要？2.列举体现当前国际经济学问题的一些重要事件，它们为什么重要？3.当今世界面临的最重要的国家经济问题是什么？全球化的利弊各是什么？Chapter 2: The Law of Comparative Advantage Multiple-Choice Questions1. The Mercantilists did not advocate:*A.free tradeB. stimulating the nation's exportsC. restricting the nations' importsD. the accumulation of gold by the nation2. According to Adam Smith, international trade was based on:*A. absolute advantageB. comparative advantageC. both absolute and comparative advantageD. neither absolute nor comparative advantage3. What proportion of international trade is based on absolute advantage?A. AllB. most*C. someD. none4. The commodity in which the nation has the smallest absolute disadvantage is the commodity of its:A. absolute disadvantageB. absolute advantageC. comparative disadvantage*D. comparative advantage5. If in a two-nation (A and B), two-commodity (X and Y) world, it is established tha t nation A has a comparative advantage in commodity X, then nation B must have:A. an absolute advantage in commodity YB. an absolute disadvantage in commodity YC. a comparative disadvantage in commodity Y*D. a comparative advantage in commodity Y6. If with one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y (and labor is the only input):A. nation A has a comparative disadvantage in commodity XB. nation B has a comparative disadvantage in commodity Y*C. nation A has a comparative advantage in commodity XD. nation A has a comparative advantage in neither commodity7. With reference to the statement in Question 6:A. Px/Py=1 in nation AB. Px/Py=3 in nation BC. Py/Px=1/3 in nation B*D. all of the above8. With reference to the statement in Question 6, if 3X is exchanged for 3Y:A. nation A gains 2X*B. nation B gains 6YC. nation A gains 3YD. nation B gains 3Y9. With reference to the statement of Question 6, the range of mutually beneficial tra de between nation A and B is:A. 3Y < 3X < 5YB. 5Y < 3X < 9Y*C. 3Y < 3X < 9YD. 1Y < 3X < 3Y10. If domestically 3X=3Y in nation A, while 1X=1Y domestically in nation B:A. there will be no trade between the two nationsB. the relative price of X is the same in both nationsC. the relative price of Y is the same in both nations*D. all of the above11. Ricardo explained the law of comparative advantage on the basis of:*A. the labor theory of valueB. the opportunity cost theoryC. the law of diminishing returnsD. all of the above12. Which of the following statements is true?A. The combined demand for each commodity by the two nations is negatively slope dB. the combined supply for each commodity by the two nations is rising stepwiseC. the equilibrium relative commodity price for each commodity with trade is giv en by the intersection of the demand and supply of each commodity by the two nati ons*D. all of the above13. A difference in relative commodity prices between two nations can be based upo difference in:n a difference A. factor endowmentsB. technologyC. tastes*D. all of the above14. In the trade between a small and a large nation:A. the large nation is likely to receive all of the gains from trade*B. the small nation is likely to receive all of the gains from tradeC. the gains from trade are likely to be equally sharedD. we cannot say15. The Ricardian trade model has been empirically*A. verifiedB. rejectedC. not testedD. tested but the results were inconclusive思考题：比较优势原理所带来的贸易所得是从何而来的？贸易利益又是如何分配的？现实世界中比较优势是如何度量的？你认为目前中国具有比较优势的商品有哪些？这意味着什么？比较优势会不会发生变化？什么样的原因可能会导致其变化？经济学家是如何验证比较优势原理的？Chapter 3: The Standard Theory of International TradeMultiple-Choice Questions1. A production frontier that is concave from the origin indicates that the nation incur s i ncreasing increasing opportunity costs in the production of:A. commodity X onlyB. commodity Y only*C. both commoditiesD. neither commodity2. The marginal rate of transformation (MRT) of X for Y refers to:A. the amount of Y that a nation must give up to produce each additional unit of XB. the opportunity cost of XC. the absolute slope of the production frontier at the point of production*D. all of the above3. Which of the following is not a reason for increasing opportunity costs:*A. technology differs among nationsB. factors of production are not homogeneousC. factors of production are not used in the same fixed proportion in the production of all commoditiesD. for the nation to produce more of a commodity, it must use resources that are le ss and less suited in the production of the commodity4. Community indifference curves:A. are negatively slopedB. are convex to the originC. should not cross*D. all of the above5. The marginal rate of substitution (MRS) of X for Y in consumption refers to the:A. amount of X that a nation must give up for one extra unit of Y and still remain o n the same indifference curve*B. amount of Y that a nation must give up for one extra unit of X and still remain on the same indifference curveC. amount of X that a nation must give up for one extra unit of Y to reach a higher indifference curveD. amount of Y that a nation must give up for one extra unit of X to reach a higher indifference curve6. Which of the following statements is true with respect to the MRS of X for Y?A. It is given by the absolute slope of the indifference curveB. declines as the nation moves down an indifference curveC. rises as the nation moves up an indifference curve*D. all of the above 7. Which of the following statements about community indifference curves is true?A. They are entirely unrelated to individuals' community indifference curvesB. they cross, they cannot be used in the analysis*C. the problems arising from intersecting community indifference curves can be over come by the application of the compensation principleD. all of the above. 8. Which of the following is not true for a nation that is in equilibrium in isolation?*A. It consumes inside its production frontierB. it reaches the highest indifference curve possible with its production frontierC. the indifference curve is tangent to the nation's production frontierD. MRT of X for Y equals MRS of X for Y, and they are equal to Px/Py 9. If the internal Px/Py is lower in nation 1 than in nation 2 without trade:A. nation 1 has a comparative advantage in commodity YB. nation 2 has a comparative advantage in commodity X*C. nation 2 has a comparative advantage in commodity YD. none of the above10. Nation 1's share of the gains from trade will be greater:A. the greater is nation 1's demand for nation 2's exports*B. the closer Px/Py with trade settles to nation 2's pretrade Px/PyC. the weaker is nation 2's demand for nation 1's exportsD. the closer Px/Py with trade settles to nation 1's pretrade Px/Py11. If Px/Py exceeds the equilibrium relative Px/Py with tradeequilibr A. the nation exporting commodity X will want to export more of X than at e quilibr iumequilibri B. the nation importing commodity X will want to import less of X than at e quilibri umC. Px/Py will fall toward the equilibrium Px/Py*D. all of the above12. With free trade under increasing costs:A. neither nation will specialize completely in productionB. at least one nation will consume above its production frontierC. a small nation will always gain from trade*D. all of the above13. Which of the following statements is false?A.The gains from trade can be broken down into the gains from exchange and the gains from specializationB. gains from exchange result even without specialization*C. gains from specialization result even without exchangeD. none of the above14. The gains from exchange with respect to the gains from specialization are alway s:A. greaterB. smallerC. equal*D. we cannot say without additional information15. Mutually beneficial trade cannot occur if production frontiers are:A. equal but tastes are notB. different but tastes are the sameC. different and tastes are also different*D. the same and tastes are also the same.思考题：国际贸易的标准理论与大卫.李嘉图的比较优势原理有何异同？两国仅仅由于需求偏好不同可以进行市场分工和狐狸贸易吗？两国仅仅由于要素禀赋不同和/或生产技术不同可以进行分工和贸易吗?Chapter 4: Demand and Supply, Offer Curves, and the Terms of Trade Multiple Choice Questions1. Which of the following statements is correct? A. The demand for imports is given by the excess demand for the commodityB. the supply of exports is given by the excess supply of the commodityC. the supply curve of exports is flatter than the total supply curve of the commodity *D. all of the above2. At a relative commodity price above equilibriumA. the excess demand for a commodity exceeds the excess supply of the commodityB. the quantity demanded of imports exceeds the quantity supplied of exports*C. the commodity price will fallD. all of the above3. The offer curve of a nation shows:A. the supply of a nation's importsB. the demand for a nation's exportsC. the trade partner's demand for imports and supply of exports*D. the nation's demand for imports and supply of exports4. The offer curve of a nation bulges toward the axis measuring the nationsA. import commodity*B. export commodityC. export or import commodityD. nontraded commodity5. Export prices must rise for a nation to increase its exports because the nation:A. incurs increasing opportunity costs in export productionB. faces decreasing opportunity costs in producing import substitutesC. faces decreasing marginal rate of substitution in consumption*D. all of the above6. Which of the following statements regarding partial equilibrium analysis is false?A. It relies on traditional demand and supply curvesB. it isolates for study one market*C. it can be used to determine the equilibrium relative commodity price but not the equilibrium quantity with tradeD. none of the above7. Which of the following statements regarding partial equilibrium analysis is true?A. The demand and supply curve are derived from the nation's production frontier an d indifference mapB. It shows the same basic information as offer curvesC. It shows the same equilibrium relative commodity prices as with offer curves*D. all of the above 8. In what way does partial equilibrium analysis differ from general equilibrium analy sis?A. The former but not the latter can be used to determine the equilibrium price with tradeB. the former but not the latter can be used to determine the equilibrium quantity with tradeC. the former but not the latter takes into consideration the interaction among all ma rkets in the economy*D. the former gives only an approximation to the answer sought.9. If the terms of trade of a nation are 1.5 in a two-nation world, those of the tradepartner are:A. 3/4*B. 2/3C. 3/2D. 4/310. If the terms of trade increase in a two-nation world, those of the trade partner:*A. deteriorateB. improveC. remain unchangedD. any of the above11. If a nation does not affect world prices by its trading, its offer curve:A. is a straight lineB. bulges toward the axis measuring the import commodity*C. intersects the straight-line segment of the world's offer curveD. intersects the positively-sloped portion of the world's offer curve12. If the nation's tastes for its import commodity increases:A. the nation's offer curve rotates toward the axis measuring its import commodityB. the partner's offer curve rotates toward the axis measuring its import commodity C. the partner's offer curve rotates toward the axis measuring its export commodity *D. the nation's offer curve rotates toward the axis measuring its export commodity13. If the nation's tastes for its import commodity increases:A. the nation's terms of trade remain unchanged*B. the nation's terms of trade deteriorateC. the partner's terms of trade deteriorateD. any of the above14. If the tastes for a nation import commodity increases, trade volume:*A. increasesB. declinesC. remains unchangedD. any of the above15. A deterioration of a nation's terms of trade causes the nation's welfare to:A. deteriorateB. improveC. remain unchanged*D. any of the above思考题：提供曲线如何推导？有何用途？两国贸易时的均衡商品价格是如何决定的？受哪些因素影响？贸易条件的含义是？贸易条件的改善意味着什么？哪些因素可能导致贸易条件的改善？Chapter 5: Factor Endowments and the Heckscher-Ohlin Theory 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. Which is not an assumption of the H-O model:A. the same technology in both nationsB. constant returns to scale*C. complete specializationD. equal tastes in both nations3. With equal technology nations will have equal K/L in production if:*A. factor prices are the sameB. tastes are the sameC. production functions are the sameD. all of the above4. We say that commodity Y is K-intensive with respect to X when:A. more K is used in the production of Y than XB. less L is used in the production of Y than X*C. a lower L/K ratio is used in the production of Y than XD. a higher K/L is used in the production of X than Y5. When w/r falls, L/KA. falls in the production of both commodities*B. rises in the production of both commoditiesC. can rise or fallD. is not affected6. 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 r/w 7. A difference in relative commodity prices between nations can be based on a diffe rence in:A. technologyB. factor endowmentsC. tastes*D. all of the above 8. In the H-O model, international trade is based mostly on a difference in:A. technology*B. factor endowmentsC. economies of scaleD. tastes 9. According to the H-O model, trade reduces international differences in:A. relative but not absolute factor pricesB. absolute but not relative factor prices*C. both relative and absolute factor pricesD. neither relative nor absolute factor prices10. According to the H-O model, international trade will:A. reduce international differences in per capita incomesB. increases international differences in per capita incomes*C. may increase or reduce international differences in per capita incomes D. lead to complete specialization11. The H-O model is a general equilibrium model because it deals with:A. production in both nationsB. consumption in both nationsC. trade between the two nations*D. all of the above12. The H-O model is a simplification of the a truly general equilibrium model b ecause because it deals with:A. two nationsB. two commoditiesC. two factors of production*D. all of the above13. The Leontief paradox refers to the empirical finding that U.S.*A. import substitutes are more K-intensive than exportsB. imports are more K-intensive than exportsC. exports are more L-intensive than importsD. exports are more K-intensive than import substitutes14. From empirical studies, we conclude that the H-O theory:A. must be rejectedB. must be accepted without reservations*C. can be accepted while awaiting further testingD. explains all international trade15. For factor reversal to occur, two commodities must be produced with:*A. sufficiently different elasticity of substitution of factors B. the same K/L ratioC. technologically-fixed factor proportionsD. equal elasticity of substitution of factors思考题：H-O理论有哪些假设？各假设的含义是什么？为什么要做出这些假设？如何检验H-O理论的正确性？H-O-S定理的假设条件又是什么？他与生产要素国际间的流动有何关系？如何检验H-O-S定理在现实中的可靠性？Chapter 6: Economies of Scale, Imperfect Competition, and International T radeMultiple-Choice Questions:1. Relaxing the assumptions on which the Heckscher-Ohlin theory rests:A. leads to rejection of the theoryB. leaves the theory unaffected*C. requires complementary trade theoriesD. any of the above.Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, leav ethe theory unaffected? t he A. Two nations, two commodities, and two factorsB. both nations use the same technologyC. the same commodity is L-intensive in both nations*D. all of the aboveWhich of the following assumptions of the Heckscher-Ohlin theory, when relaxed, require new trade theories? r equire *A. Economies of scaleB. incomplete specializationC. similar tastes in both nationsD. the existence of transportation costsInternational trade can be based on economies of scale even if both nations have ide ntical:A. factor endowmentsB. tastesC. technology*D. all of the above5. A great deal of international trade:A. is intra-industry tradeB. involves differentiated productsC. is based on monopolistic competition*D. all of the above6. The Heckscher-Ohlin and new trade theories explains most of the trade:A. among industrial countriesB. between developed and developing countriesC. in industrial goods*D. all of the aboveThe theory that a nation exports those products for which a large domestic market e xistswas advanced by: w as *A. LinderB. VernonC. LeontiefD. Ohlin8. 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 aboveIf a nation exports twice as much of a differentiated product that it imports, its intra- i ndustry industry (T) index is equal to:A. 1.00B. 0.75*C. 0.50D. 0.2510. Trade based on technological gaps is closely related to:A. the H-O theory*B. the product-cycle theoryC. Linder's theoryD. all of the above11. Which of the following statements is true with regard to the product-cycle theor y?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 less advanced countries*D. all of the above12. Transport costs:A. increase the price in the importing countryB. reduces the price in the exporting country*C. both of the aboveD. neither A nor B.13. Transport costs can be analyzed:A. with demand and supply curvesB. production frontiersC. offer curves*D. all of the above14. The share of transport costs will fall less heavily on the nation:*A. with the more elastic demand and supply of the traded commodityB. with the less elastic demand and supply of the traded commodityC. exporting agricultural productsD. with the largest domestic market15. A footloose industry is one in which the product:A. gains weight in processingB. loses weight in processingC. both of the above*D. neither A nor B.思考题：本章的贸易理论与基于比较优势的贸易理论有哪些不同？这两类贸易理论是互相排斥的吗？H-O理论与心贸易理论之间有什么经验关联？运输成本对H-O定理和H-O-S定理有何影响？不同的环保标准时如何影响产业选址及国际贸易的？2009年底联合国哥本哈根气候大会中的议题与国际贸易有何关系？这对我国经贸发展有何影响？Chapter 7: Economic Growth and International Trade Multiple-Choice Questions1. Dynamic factors in trade theory refer to changes in:A. factor endowmentsB. technologyC. tastes*D. all of the above2. Doubling the amount of L and K under constant returns to scale:A. doubles the output of the L-intensive commodityB. doubles the output of the K-intensive commodityC. leaves the shape of the production frontier unchanged*D. all of the above.3. Doubling only the amount of L available under constant returns to scale:A. less than doubles the output of the L-intensive commodity*B. more than doubles the output of the L-intensive commodityC. doubles the output of the K-intensive commodityD. leaves the output of the K-intensive commodity unchanged4. The Rybczynski theorem postulates that doubling L at constant relative commodity prices:A. doubles the output of the L-intensive commodity*B. reduces the output of the K-intensive commodityC. increases the output of both commoditiesD. any of the above5. Doubling L is likely to:A. increases the relative price of the L-intensive commodityB. reduces the relative price of the K-intensive commodity*C. reduces the relative price of the L-intensive commodityD. any of the aboveTechnical progress that increases the productivity of L proportionately more than the productivity of K is called: p roductivity *A. capital savingB. labor savingC. neutralD. any of the above7. A 50 percent productivity increase in the production of commodity Y:A. increases the output of commodity Y by 50 percentB. does not affect the output of XC. shifts the production frontier in the Y direction only*D. any of the above8. Doubling L with trade in a small L-abundant nation:*A. reduces the nation's social welfareB. reduces the nation's terms of tradeC. reduces the volume of tradeD. all of the above 9. Doubling L with trade in a large L-abundant nation:A. reduces the nation's social welfareB. reduces the nation's terms of tradeC. reduces the volume of trade*D. all of the aboveIf, at unchanged terms of trade, a nation wants to trade more after growth, then the n ation's nation's terms of trade can be expected to:*A. deteriorateB. improveC. remain unchangedD. any of the above A proportionately greater increase in the nation's supply of labor than of capital is lik ely to result in a deterioration in the nation's terms of trade if the nation exports: to A. the K-intensive commodity*B. the L-intensive commodityC. either commodityD. both commodities12. Technical progress in the nation's export commodity:*A. may reduce the nation's welfareB. will reduce the nation's welfareC. will increase the nation's welfareD. leaves the nation's welfare unchanged13. Doubling K with trade in a large L-abundant nation:A. increases the nation's welfareB. improves the nation's terms of tradeC. reduces the volume of trade*D. all of the above14. An increase in tastes for the import commodity in both nations:A. reduces the volume of trade*B. increases the volume of tradeC. leaves the volume of trade unchangedD. any of the above15. An increase in tastes of the import commodity of Nation A and export in B:*A. will reduce the terms of trade of Nation AB. will increase the terms of trade of Nation AC. will reduce the terms of trade of Nation BD. any of the above思考题：要素积累和技术进步如何影响一国的生产可能性曲线的形状和位置？何种类型的经济增长最可恩能够导致国家福利的下降？那种类型的经济增长最可能导致国家福利的改善？Chapter 8: Trade Restrictions: TariffsMultiple-choice Questions1. Which of the following statements is incorrect?A. An ad valorem tariff is expressed as a percentage of the value of the traded com modityB. A specific tariff is expressed as a fixed sum of the value of the traded commodity.C. Export tariffs are prohibited by the U.S. Constitution*D. The U.S. uses exclusively the specific tariff 2. A small nation is one:A. which does not affect world price by its tradingB. which faces an infinitely elastic world supply curve for its import commodityC. whose consumers will pay a price that exceeds the world price by the amount of t he tariff*D. all of the above3. If a small nation increases the tariff on its import commodity, its:A. consumption of the commodity increasesB. production of the commodity decreasesC. imports of the commodity increase*D. none of the aboveThe increase in producer surplus when a small nation imposes a tariff is measured by the area:*A. to the left of the supply curve between the commodity price with and without th e tariffB. under the supply curve between the quantity produced with and without the tariffC. under the demand curve between the commodity price with and without the tariffD. none of the above.。
(英文版)保罗。克鲁格曼《国际经济学》题库5
练习题五：A E C A D C D D E D A D1．Which of the following statements is the most accurate? The law of one price states:A) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency.C) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price.D) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.E) None of the above.2. In order for the condition E$/HK$ = Pus/PHK to hold, what assumptions does the principle of purchasing power parity make?A) No transportation costs and restrictions on trade; commodity baskets that are a reliable indication of price level.B) Markets are perfectly competitive, i.e., P = MC.C) The factors of production are identical between countries.D) No arbitrage exists.E) A and B.3. Under Purchasing Power Parity,A) E$/E = PiUS/PiE.B) E$/E = PiE/PiUS.C) E$/E = PUS/PE.D) E$/E = PE/PES.E) None of the above.4. In the short run,A) the interest rate can rise when the domestic money supply falls.B) the interest rate can decrease when the domestic money supply falls.C) the interest rate stays constant when the domestic money supply falls.D) the interest rate rises in the same proportion as the domestic money supply falls.E) None of the above.5. The PPP theory fails in reality becauseA) transport costs and restrictions on trade.B) monopolistic or oligopolistic practices in goods markets.C) the inflation data reported in different countries are based on different commodity baskets.D) A, B, and C.E) A and B only.6. The PPP theory fails in reality becauseA) transport costs and restrictions on trade.B) monopolistic or oligopolistic practices in goods markets.C) the inflation data reported in different countries are based on different commodity baskets.D) A, B, and C.E) A and B only.7. A countryʹs domestic currencyʹs real exchange rate, q, is defined asA) E.B) E times P.C) E times P.D) (E times P)/P.E) P/(E times P).8. In the short-run, any fall in EP/P, regardless of its causes, will causeA) an upward shift in the aggregate demand function and an expansion of outputB) an upward shift in the aggregate demand function and a reduction in outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intact9. In the short-run, a temporary increase in money supplyA) shifts the DD curve to the right, increases output and appreciates the currency.B) shifts the AA curve to the left, increases output and depreciates the currency.C) shifts the AA curve to the left, decreases output and depreciates the currency.D) shifts the AA curve to the left, increases output and appreciates the currency.E) shifts the AA curve to the right, increases output and depreciates the currency.10. Temporary tax cuts would cause:A) the AA-curve to shift left.B) the AA-curve to shift right.C) the DD-curve to shift left.D) the DD-curve to shift right.E) a shift in the AA-curve, although the direction is ambiguous.11. In the short-run, a temporary increase in the money supplyA) shifts the AA curve to the right, increases output and depreciates the currency.B) shifts the AA curve to the left, increases output and depreciates the currency.C) shifts the AA curve to the left, decreases output and depreciates the currency.D) shifts the AA curve to the left, increases output and appreciates the currency.E) shifts the AA curve to the right, increases output and appreciates the currency.12. Assume the asset market is always in equilibrium. Therefore a fall in Y would result in:A) higher inflation abroad.B) a decreased demand for domestic products.C) a contraction of the money supply.D) a depreciation of the home currency.E) an appreciation of the home currency.13. What can explain the failure of relative PPP to hold in reality?Government measures of the price level differ from country to country. One reason for these differences is that people living in different countries spend their income in different ways. Because of this inherent difference among countries, certain baskets will be affected more by price changes given their consumptions basket. For example, consumers in country, X, eats more fish relative to another country. More than likely, the government, upon determining a commodity basket to reflect preference, will have an overwhelming representation of fish in their basket. Any price level change in the fish market will be felt particularly by country X, and their overall price level will reflect this. Thus, changes in the relative prices of basket components can cause relative PPP to become distorted.14. Using a figure show that under full employment, a temporary fiscal expansion would increase output (overemployment) but cannot increase output in the long run.A temporarily fiscal expansion will move the economy from DD1 to DD2, and output increases. A permanent fiscal expansion will also shift the AA curve to the left and down. The nominal exchange rate appreciates, i.e. E decreases.15. Using the DD model, explain what happens to out put when Government demands increase. Use a figure to explain when it is taking place.T he figure below shows the G1 to G2 raises output at every level of the exchange rate. The change shifts the DD to the right. Which in turns increases output to Y2.。
西方经济学双语练习题
2. Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured by thea. consumer's income divided by the price of hamburgers.b. relative price of books and hamburgers.c. consumer's marginal rate of substitution.d. number of books purchased divided by the number of hamburgers purchased.ANS: B3. When considering her budget, the highest indifference curve that a consumer can reach is thea. one that is tangent to the budget constraint.b. indifference curve farthest from the originc. indifference curve that intersects the budget constraint in at least two places.d. None of the above is correct; consumer preferences are bounded.ANS: A4. Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, while Sandy can make 6 tables or 18 chairs. Given this, we know thata. Mike has a comparative advantage in tables.b. Sandy has an absolute advantage in chairs.c. Mike has an absolute advantage in tables.d. Sandy has a comparative advantage in tables.ANS: D12. When economists make normative statements, they area. speaking as scientists.b. speaking as policy advisers.c. adhering very strictly to basic economic principles.d. revealing that they are very conservative in their views of how the world works.ANS: B15. A competitive market is a market in whicha. an auctioneer helps set prices and arrange sales.b. there are only a few sellers.c. the forces of supply and demand do not apply.d. no individual buyer or seller has any significant impact on the market price.ANS: D16. The line that relates the price of a good to the quantity demanded of that good is called thea. demand schedule, and it slopes upward only if the good for which the line is drawn fails toconform to the law of demand.b. demand schedule, and it slopes upward only if the demand for the good in question, relativeto the demand for other goods, is increasing over time.c. demand curve, and it slopes upward only if there is a positive relationship between incomeand quantity demanded.d. demand curve, and it slopes downward as long as the good in question conforms to the lawof demand.ANS: D17. Suppose roses are currently selling for $40.00 per dozen, while the equilibrium price of roses isa. shortage to exist and the market price of roses to increase.b. shortage to exist and the market price of roses to decrease.c. surplus to exist and the market price of roses to increase.d. surplus to exist and the market price of roses to decrease.ANS: D19. To say that the quantity demanded of a good is negatively related to the price of the good is to say thata. an increase in the quantity demanded of the good leads to a decrease in the price of thegood.b. an increase in the price of the good leads to a decrease in the quantity demanded of thegood.c. there is a weak relationship between the quantity demanded of a good and the price of thegood.d. there is no relationship between the quantity demanded of a good and the price of the good. ANS: B21. Which of the following events will definitely cause equilibrium quantity to fall?a. demand increases and supply decreasesb. demand and supply both decreasec. demand decreases and supply increasesd. demand and supply both increaseANS: B22. Which of the following statements about the price elasticity of demand is correct?a. The price elasticity of demand for a good measures the willingness of buyers of the good tomove away from the good as its price increases.b. Price elasticity of demand reflects the many economic, psychological, and social forces thatshape consumer tastes.c. Other things equal, if good x has close substitutes and good y does not have close substitutes,then the demand for good x will be more elastic than the demand for good y.d. All of the above are correct.ANS: D23. Which of the following events would cause the price of oranges to fall?a. There is a shortage of oranges.b. An article is published in which it is claimed that tangerines cause a serious disease, andoranges and tangerines are substitutes.c. The price of land throughout Florida decreases, and Florida produces a significantproportion of the nation’s oranges.d. All of the above are correct.ANS: C24. A perfectly elastic demand implies thata. buyers will not respond to any change in price.b. any rise in price above that represented by the demand curve will result in a quantitydemanded of zero.c. quantity demanded and price change by the same percent as we move along the demandcurve.d. price will rise by an infinite amount when there is a change in quantity demanded.25. A price ceiling will be binding only if it is seta. equal to equilibrium price.b. above equilibrium price.c. below equilibrium price.d. none of the above; a price ceiling is never binding.ANS: C28. When demand is inelastic within a certain price range, then within that price range,a. an increase in price would increase total revenue because the decrease in quantity demandedis proportionately less than the increase in price.b. an increase in price would decrease total revenue because the decrease in quantity demandedis proportionately greater than the increase in price.c. a decrease in price would increase total revenue because the increase in quantity demandedis proportionately smaller than the decrease in price.d. a decrease in price would not affect total revenue.ANS: A30. Economists generally believe that rent control isa. an efficient and equitable way to help the poor.b. not efficient, but the best available means of solving a serious social problem.c. a highly inefficient way to help the poor raise their standard of living.d. an efficient way to allocate housing, but not a good way to help the poor.ANS: C37. When an oligopoly market reaches a Nash equilibrium,a. the market price will be different for each firm.b. the firms will not have behaved as profit maximizers.c. a firm will have chosen its best strategy, given the strategies chosen by other firms in themarket.d. a firm will not take into account the strategies of competing firms.ANS: C41. Which of the following is true of markets characterized by positive externalities?a. Social value exceeds private value, and market quantity exceeds the socially optimalquantity.b. Social value is less than private value, and market quantity exceeds the socially optimalquantity.c. Social value exceeds private value, and market quantity is less than the socially optimalquantity.d. Social value seldom exceeds private value; therefore, social quantity is less than privatequantity.ANS: C44. Marginal revenue can become negative fora. both competitive and monopoly firms.b. competitive firms, but not for monopoly firms.c. monopoly firms, but not for competitive firms.d. neither competitive nor monopoly firms.45. According to the Coase theorem, private markets will solve externality problems and allocate resources efficiently as long asa. the externalities that are present are positive, not negative.b. government assigns property rights to the harmed party.c. private parties can bargain with sufficiently low transaction costs.d. businesses determine an appropriate level of production.ANS: C47. Which of these assumptions is often realistic for a firm in the short run?a. The firm can vary both the size of its factory and the number of workers it employs.b. The firm can vary the size of its factory, but not the number of workers it employs.c. The firm can vary the number of workers it employs, but not the size of its factory.d. The firm can vary neither the size of its factory nor the number of workers it employs. ANS: C52. The total cost curve gets steeper as output increases due toa. diseconomies of scale.b. economies of scale.c. diminishing marginal product.d. increasing returns to scale.ANS: C53. When a country is on the downward-sloping side of the Laffer curves, a cut in the tax rate willa. decrease tax revenue and decrease the deadweight loss.b. decrease tax revenue and increase the deadweight loss.c. increase tax revenue and decrease the deadweight loss.d. increase tax revenue and increase the deadweight loss.ANS: C54. Employing a lawyer to draft and enforce a private contract between parties wishing to solve an externality problem is an example ofa. an opportunity cost.b. an implicit cost.c. a sunk cost.d. a transaction cost.ANS: D55. Suppose that Martin owns a lighthouse, and Lewis owns a nearby port. Martin's lighthouse benefits only those ships that enter Lewis's port. Which of the following statements is not correct?a. Martin's lighthouse may be considered a private good.b. Martin can reduce the free-rider problem by charging Lewis a usage fee.c. Martin can exclude Lewis's port from benefiting from the lighthouse by simply turning thepower off.d. Martin's lighthouse would be considered a common resource.ANS: D56. Which of the following statements is correct?a. A price ceiling is not binding when the price ceiling is set above the equilibrium price.b. A price floor is not binding when the price floor is set below the equilibrium price.c. A binding price ceiling causes a shortage and a binding price floor causes a surplus.d. All of the above are correct.57. Opponents of the minimum wage point out that the minimum wagea. encourages teenagers to drop out of school.b. prevents some workers from getting needed on-the-job training.c. contributes to the problem of unemployment.d. All of the above are correct.ANS: D58. A tax on the sellers of cell phones willa. reduce the size of the cell phone market.b. place a burden on the sellers of cell phones but not on the buyers of cell phones.c. affect the price paid by buyers of cell phones, but not the size of the market.d. affect the size of the market, but it will have no effect on the effective price received bysellers of cell phones.ANS: A59. Chad is willing to pay $5.00 to get his first cup of morning latté. He buys a cup from a vendor selling latté for $3.75 per cup. Chad's consumer surplus isa. $8.75.b. $5.00.c. $3.75.d. $1.25.ANS: D60. Suppose that in a competitive market the market price is $2.50. What is marginal revenue for the last unit sold by the typical firm in this market?a. Less than $2.50.b. More than $2.50.c. $2.50.d. The marginal revenue cannot be determined without knowing the actual quantity sold by thetypical firm.ANS: CFigure 1The figure below depicts the cost structure of a profit-maximizing firm in a competitive market.61. Refer to Figure 1. Which line segment best reflects the short-run supply curve for this firm?a. ABCEb. CDc. DEd. BCDANS: A62. For a profit-maximizing monopolist,a. P > MR = MC.b. P = MR = MC.c. P > MR > MC.d. MR < MC < P.ANS: A63. The midpoint method is used to compute elasticity because ita. automatically computes a positive number instead of a negative number.b. results in an elasticity that is the same as the slope of the demand curve.c. gives the same answer regardless of the direction of change.d. automatically rounds quantities to the nearest whole unit.ANS: C64. Suppose demand is perfectly elastic and the supply of the good in question decreases. As a result,a. the equilibrium quantity decreases and the equilibrium price is unchanged.b. the equilibrium price increases and the equilibrium quantity is unchanged.c. the equilibrium quantity and the equilibrium price both are unchanged.d. buyers’ total expenditure on the good is unchanged.ANS: A65. Which of the following statements is not correct concerning government attempts to reduce the flow of illegal drugs into the country?a. Drug interdiction raises prices and total revenue in the drug market.b. Drug interdiction can increase drug-related crime.c. Drug interdiction shifts the demand curve for drugs to the left.d. Drug interdiction shifts the supply curve of drugs to the left.ANS: C66. In a competitive market with free entry and exit, if all firms have the same cost structure, thena. all firms will operate at efficient scale in the short run.b. all firms will operate at efficient scale in the long run.c. the price of the product will differ across firms.d. the number of sellers in the market will steadily decrease over time.ANS: B67. The equilibrium quantity in markets characterized by oligopoly isa. higher than in monopoly markets and higher than in perfectly competitive markets.b. higher than in monopoly markets and lower than in perfectly competitive markets.c. lower than in monopoly markets and higher than in perfectly competitive markets.d. lower than in monopoly markets and lower than in perfectly competitive markets.ANS: B68. One way in which monopolistic competition differs from oligopoly is thata. there are no barriers to entry in oligopolies.b. in oligopoly markets there are only a few sellers.c. all firms in an oligopoly eventually earn zero economic profits.d. strategic interactions between firms are rarely evident in oligopolies.ANS: B69. The demand curve for hot dogsa. shifts when the price of hot dogs changes, because the price of hot dogs is measured on thevertical axis of the graph.b. shifts when the price of hot dogs changes, because the quantity demanded of hot dogs ismeasured on the horizontal axis of the graph.c. does not shift when the price of hot dogs changes, because the price of hot dogs is measuredon the vertical axis of the graph.d. does not shift when the price of hot dogs changes, because the quantity demanded of hotdogs is measured on the horizontal axis of the graph.ANS: C70. Holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period becausea. buyers tend to be much less sensitive to a change in price when given more time to react.b. buyers tend to be much more sensitive to a change in price when given more time to react.c. buyers will have substantially more income over a ten-year period.d. the quantity supplied of gasoline increases very little in response to an increase in the priceof gasoline.ANS: B71. For a firm in a perfectly competitive market, the price of the good is alwaysa. equal to marginal revenue.b. equal to total revenue.c. greater than average revenue.d. equal to the firm’s efficient scale of output.ANS: A72. In a long-run equilibrium,a. "excess capacity" applies to monopolistically competitive firms, but not to competitivefirms.b. "zero economic profit" applies to competitive firms, but not to monopolistically competitivefirms.c. "markup over marginal cost" applies to both monopolistically competitive and competitivefirms.d. “product variety externalities” apply to both perfectly competitive firms andmonopolistically competitive firms.ANS: A73. In a market economy,a. supply determines demand and, in turn, demand determines prices.b. demand determines supply and, in turn, supply determines prices.c. the allocation of scarce resources determines prices and, in turn, prices determine supply anddemand.d. supply and demand determine prices and, in turn, prices allocate scarce resources.ANS: D74. Which of the following is not a characteristic of a perfectly competitive market?a. Sellers possess market power.b. There are many sellers.c. Buyers must accept the price the market determines.d. All of the above are characteristics of a perfectly competitive market.ANS: A75. Currently you purchase 6 packages of hot dogs a month. You will graduate from college in December and you will start a new job in January. You have no plans to purchase hot dogs in January. For you, hot dogs area. a substitute good.b. a normal good.c. an inferior good.d. a law-of-demand good.ANS: C76. What causes the labor demand curve to shift?(i) changes in productivity(ii) c hanges in wages(iii) changes in output pricesa. (i) and (ii)b. (ii) and (iii)c. (i) and (iii)d. All of the above are correct.77. The following diagram shows a budget constraint for a particular consumer.If the price of x is $10, what is the price of y?a. $15b. $25c. $35d. $70ANS: C78. If a good is a Giffen good, thena. the supply curve slopes down.b. the demand curve slopes up.c. the demand curve is horizontal.d. there is no optimal level of consumption for the consumer.ANS: B79．If duopolists individually pursue their own self-interest when deciding how much to produce, the amount they will produce collectively willa. be less than the monopoly quantity.b. be equal to the monopoly quantity.c. be greater than the monopoly quantity.d. Any of the above are possible.ANS: C80. Monopoly firms havea. downward-sloping demand curves and they can sell as much output as they desire at themarket price.b. downward-sloping demand curves and they can sell only a limited quantity of output at eachprice.c. horizontal demand curves and they can sell as much output as they desire at the marketprice.d. horizontal demand curves and they can sell only a limited quantity of output at each price. ANS: B81. The bowed-out shape of the production possibilities frontier can be explained by the fact thata. scarcity is a fact of life.b. economic growth is always occurring.c. the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.d. an assumption that is made in constructing a production possibilities frontier is that tradeoffs are unimportant.ANS: C82. Absolute advantage is found by comparing different producers’a. opportunity costs.b. payments to land, labor, and capital.c. input requirements per unit of output.d. locational and logistical circumstances.ANS: C83. If duopolists individually pursue their own self-interest when deciding how much to produce, the amount they will produce collectively willa. be less than the monopoly quantity.b. be equal to the monopoly quantity.c. be greater than the monopoly quantity.d. Any of the above are possible.ANS: C84. In which of the following market structures are there a large number of sellers?(i) Monopolistic competition(ii) P erfect competition(iii) Oligopolya. (i) and (ii) onlyb. (ii) and (iii) onlyc. (ii) onlyd. (i), (ii), and (iii)ANS: ATable 1BAUp Down85. Refer to Table 1. This table shows a game played between two players, A and B. The payoffsin the table are shown as (Payoff to A, Payoff to B). Which of the following statements about this game is true?a. Up is a dominant strategy for A and Right is a dominant strategy for B.b. Up is a dominant strategy for A and Left is a dominant strategy for B.c. Down is a dominant strategy for A and Right is a dominant strategy for B.d. Down is a dominant strategy for A and Left is a dominant strategy for B.ANS: Aa. is an externality that is likely to be punished under antitrust laws.b. is the negative externality that occurs when one firm attempts to duplicate exactly theproduct of a different firm.c. is an externality that is considered to be an explicit cost of business in monopolisticallycompetitive markets.d. is the negative externality associated with entry of new firms in a monopolisticallycompetitive market.ANS: D87. Low rates of inflation are generally associated witha. low rates of government spending.b. small or nonexistent government budget deficits.c. low rates of productivity growth.d. low rates of growth of the quantity of money.ANS: D88. The basic principles of economics imply that policymakers shoulda. rely on markets to guide economic activity, except when markets produce inefficient orinequitable outcomes.b. enact policies that discourage people from specializing in particular economic activities.c. enact policies that lead to high rates of growth of the quantity of money.d. All of the above are correct.ANS: A89. Because a firm's demand for a factor of production is derived from its decision to supply a good in the market, it is called aa. differentiated demand.b. secondary demand.c. derived demand.d. hybrid demand-supply.ANS: C90. Consider the labor market for computer programmers, which is in equilibrium. During the late 1990s, the value of the marginal product of all computer programmers increased dramatically. Holding all else equal, what effect did this process have on the labor market for computer programmers?a. The equilibrium wage increased, and the equilibrium quantity of labor increased.b. The equilibrium wage increased, and the equilibrium quantity of labor decreased.c. The equilibrium wage decreased, and the equilibrium quantity of labor increased.d. The equilibrium wage decreased, and the equilibrium quantity of labor decreased.ANS: A1. List and briefly explain each of the four properties of indifference curves.ANS:1: Higher indifference curves are preferred to lower ones, because consumers usually prefer more of something to less of it. 2: Indifference curves are downward sloping. The slope of an indifference curve reflects the rate at which the consumer is willing to substitute one good for another. If the quantity of one good is reduced, the quantity of the other good must increase in order for the consumer to be equally happy. 3: Indifference curves do not cross. If indifference curves did cross, the same point could be on two different curves, thus contradicting the assumption that consumers prefer more of both goods to less. 4: Indifference curves are bowed inward. This is because people are more willing to trade away goods that they have in abundance and less willing to trade away goods of which they have less.2. Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and quantity have changed.a. Winter starts and the weather turns sharply colder.b. The price of tea, a substitute for hot chocolate, falls.c. Producers expect the price of hot chocolate to increase next month.d. Currently, the price of hot chocolate is $0.50 per cup above equilibrium.ANS:3. Use a graph to demonstrate why a profit-maximizing monopolistically competitive firm mustoperate at excess capacity. Explain why a perfectly competitive firm is not subject to the same constraint.ANS:Competitive firms do not face downward-sloping demand. The graph shows the firm choosing a level of production in which the intersection of marginal revenue and marginal cost occurs at an output level where average total cost is decreasing. This profit-maximizing output level is less than the efficient scale (minimum of average total cost) and therefore the firm is said to be operating with excess capacity.4. Using the graph shown, answer the following questions.a. What was the equilibrium price and quantity in this market before the tax?b. What is the amount of the tax?c. How much of the tax will the buyers pay?d. How much of the tax will the sellers pay?e. How much will the buyer pay for the product after the tax is imposed?f. How much will the seller receive after the tax is imposed?g. As a result of the tax, what has happened to the level of market activity?ANS:a. Equilibrium price is $8 and equilibrium is 8,000 units.b. The tax is $3.00.c. Buyers will pay $1.00.d. Sellers will pay $2.00.e. $9.00f. $6.00g. Instead of 8,000 units being bought and sold, only 6,000 will be bought and sold.5. Ford and General Motors are considering expanding into the Vietnamese automobile market.Devise a simple prisoners' dilemma game to demonstrate the strategic considerations that are relevant to this decision.ANS:The answer should present two strategies for each company, such as “Expand” and “Don’t Expand.” To be a prisoner’s dilemma, each firm needs a dominant strategy, but each firm choosing its dominant strategy results in an outcome that is jointly worse than if they both chose their other strategy. A possible payoff table with payoffs (Ford, GM) isGMExpand Don’t ExpandFord Expand (2, 2) (4, 1) Don’t Expand(1, 4) (3, 3)6. Using the graph below, answer the following questions about hammers.a. What is the equilibrium price of hammers before trade?b. What is the equilibrium quantity of hammers before trade?c. What is the price of hammers after trade is allowed?d. What is the quantity of hammers imported after trade is allowed?e. What is the amount of consumer surplus before trade?f. What is the amount of consumer surplus after trade?g. What is the amount of producer surplus before trade?h. What is the amount of producer surplus after trade?i. What is the amount of total surplus before trade?j. What is the amount of total surplus after trade?k. What is the change in total surplus because of trade?ANS:a. $14b.90c.$10d.85e. $360f.$810g.$405h.$125i.$765j. $935 k.$1707. Define opportunity cost. What is the opportunity cost to you of attending college? What was your opportunity cost of coming to class today?ANS:Whatever must be given up to obtain some item it its opportunity cost. Basically, this would be a person's second choice. The opportunity cost of a person attending college is the value of the best alternative use of that person's time. For most students this would be the income the student gives up by not working. A student's opportunity cost of coming to class was the value of the best opportunity the student gave up. (For most students, that seems to be sleep.)8. Describe the source of tension between cooperation and self-interest in a market characterizedby oligopoly. Use an example of an actual cartel arrangement to demonstrate why this tension creates instability in cartels.ANS:The source of the tension exists because total profits are maximized when oligopolists cooperate on price and quantity by operating as a monopolist. However, individual profits can be gained by individuals cheating on their cooperative agreement. This is why cooperative agreements among members of a cartel are inherently unstable. This is evident in the problem OPEC experiences in enforcing the cooperative agreement on production and price of crude oil.9. Using the graph shown, answer the following questions.a. What was the equilibrium price in this market before the tax?b. What is the amount of the tax?c. How much of the tax will the buyers pay?d. How much of the tax will the sellers pay?e. How much will the buyer pay for the product after the tax is imposed?f. How much will the seller receive after the tax is imposed?g. As a result of the tax, what has happened to the level of market activity?ANS:a. $10b. $3c.$1d.$2e.$11f.$8g. As a result of the tax, the level of market activity has fallen, from 100 units being boughtand sold to only 90 units being bought and sold.10. Nike and Reebok (athletic shoe companies) are considering whether or not to advertise during theSuper Bowl. Devise a simple prisoners' dilemma game to demonstrate the strategic considerations that are relevant to this decision. Does the repeated game scenario differ from a single period game? Is it possible that a repeated game (without collusive agreements) could lead to an outcome that is better than a single-period game? Explain the circumstances in which this may be true.ANS:The answer should show that if both shoe companies decide to advertise they will both be worse off than if they did not. It should also show that each company has the individual incentive to advertise. The dominant strategy of both companies will be to advertise, regardless of what the other is doing. If the game is repeated more than once it is possible that the shoe companies will decide not to advertise in the hopes that the other company adequately understands the mutually beneficial gains that come from not advertising.11. Answer the following questions based on the graph that represents J.R.'s demand for ribs per week of ribs at Judy's rib shack.a. At the equilibrium price, how many ribs would J.R. be willing to purchase?b. How much is J.R. willing to pay for 20 ribs?c. What is the magnitude of J.R.'s consumer surplus be at the equilibrium price?d. At the equilibrium price, how many ribs would Judy be willing to sell?e. How high must the price of ribs be for Judy to supply 20 ribs to the market?f. At the equilibrium price, what is the magnitude of total surplus in the market?g. If the price of ribs rose to $10, what would happen to J.R.'s consumer surplus?。
西方经济学练习题
西方经济学练习题西方经济学练习题一填空题1.西方经济学的英文名称是（principles of economics）2.经济学根据其研究对象的不同，可分为（微观/宏观），根据其研究方法的不同，可分为（规/实证）3.在需求与需求量的变动中价格变动引起（需求量）变动，而收入的变动引起（需求）的变动。
4.研究消费者行为的基数效用论认为，效用可以（可以计量，加总求和），因此效用的大小可以用基数表示。
5.当边际产量为零时，（总产量）达到最大。
6.垄断竞争市场与完全竞争市场的关键差别是完全竞争产品（有）差别，而垄断竞争产品（无）差别。
7.劳动的供给曲线是一条（向后翻转）的曲线。
8.物品的(非排他性)和(非竞争性)决定了人们不用购买仍然可以消费。
9.生产可能性曲线是在（技术水平）既定的条件下所能达到的两种物品最大产量的组合。
10.供给曲线向（右上方）方倾斜，表示某种商品的价格与供给量之间（同）方向变动。
11.当边际效用为正数时，总效用是增加的；当边际效用为零时，总效用（最大）；当边际效用为负数时，总效用（减少）。
12.短期边际成本是短期每增加一单位（产量）13.在完全竞争市场上对整个行业来说，需求曲线是一条（左上向右下倾斜），对个别企业来说，需求曲线是一条（从价格既定的点出发与横轴平行）。
14.利息是（资本）这种生产要素的价格。
15.供给的变动引起均衡价格（反）方向变动，引起均衡数量（同）方向变动。
16.理论是微观经济学的中心理论，（价格/供求）理论是宏观经济学的中心理论。
17.（支持）价格是政府规定的某种产品的最低限价，（限制）价格是政府规定的某种产品的最高限价。
18.在完全竞争市场上，对整个行业来说，需求曲线是一条（），对个别企业来说，需求曲线是一条（）19.利息是（资本）的价格，（正常利润）是企业家才能的价格20.经济学研究方法中的实证方法要回答的问题是（世界是什么），规方法要回答的问题是（世界应该怎样运行）。
国际经济学理论与政策__双语各章练习题
Quiz for Chapter 12Ⅰ. Fill the following blanks with the proper word or expression1. Y-( )=CA2、National income equals GNP less ( ),plus ( ),less ( ).3. GNP equals GDP ( ) net receipts of factor income from the rest of the world.4. The national income identity for an open economy is ( ).5. When a country 's exports exceed its imports, we say the country has a current account ( ).6. The current account includes ( )7. Any transaction resulting in a payment to foreigners is entered in the balance of payment account as a ( ).8. In a closed economy, national saving always equals ( ).9.When official reserves increase, this will be recorded in the ( ), with ( )sign.10. When debit is bigger than net decrease of the reserve, the difference will go to the ( ).Ⅱ. True or false1. The balance of payments accounts always balance in practice as they must in theory.( )2. Net unilateral transfers are considered part of the current accounts but not a part of national income .( )3. The GNP a country generates over some time period must equal its national income ,the income earned in that period by its factors of production. ( )4. When you buy a share of Microsoft stock , you are buying neither a good or a service , so your purchase dose not show up in GNP. ( )5. If the government deficit rises and private saving and investment do not change much ,the current account surplus must fall by roughly the same account as the increase in the fiscal deficit. ( )6. We include income on foreign investment in the current account because that income really is compensation for the services provided by foreign investments.( )7. Remember that foreign borrowing may not always be a bad idea :a country that borrows abroad to undertake profitable domestic investment can pay its creditors and still have money left over.( )8. Government agencies including central banks can freely hold foreign reserves and intervene officiallyin exchange market.( )9. When the United States lends abroad, a payment is made to foreigners and the capital account is credited.10. One reason intervention is important is that central banks use it as a way of altering the amount of money in circulation.Ⅲ. Answer the following questions:1.Why account keepers adds the account a statistical discrepancy to the balance of payment?2.The nation of Pecunia had a current account deficit of ＄1 billion and a nonreserve financial account surplusof ＄550 million in 2005.(1)What was the balance of payments of Pecunia in that year? What happened to the country’s net foreignassets?(2)Assume that foreign central banks neither buy nor sell Pecunian assets. How did the Pecunian central bankshad purchased ＄600 million of Pecunian assets in 2005? How would this official intervention show up in the balance of payments accounts?(3)How would your answer to (2) change if you learned that foreign central banks had purchased enter foreignbalance of payments accounts?Ⅳ. Fill the following blanks:China's balance of payment in 2000Quiz for Chapter 13Ⅰ. Fill the following blanks with the proper word or expression1. Changes in exchange rates are described asor .2. Foreign exchange deals sometimes specify a value date farther away than two-days-30 days, 90days, 180 days, or even several years. The exchange rates quoted in such transactions are called3. is the most liquid of assets4. The ease with which the asset can be sold or exchange for goods, we call the character is5. A foreignis a spot sale of a currency combined with a forward repurchase of the currency.6. The foreign exchange market is inwhen deposits of all currencies offer the same expected rate of return.7. The price of one currency in terms of another is called an8. All else equal, ain the expected future exchange rate causes a rise in the current exchange rate.9. is the percentage increase in value, it offers over some time period.10. All else equal, anin the interest paid on deposits of a currency causes that currency to appreciate againstforeign currencies.Ⅱ. True or false1. A rate of appreciation of the dollar against the euro is the rate of depreciation of the euro against dollar.( )2. The exchange rate quoted as the price of foreign currency in terms of domestic currency is called direct quotation. ( )3. all else equal, an appreciation of a country's currency makes its goods cheaper for foreigners. ( )4. The foreign exchange market is in equilibrium when deposits of all currencies offer the same expected rate of return. ( )5. All else equal., When a country's currency depreciated, domestic residents find that imports from abroad are more expensive. ( )6. Central bank is at the center of the foreign exchange market.( )7. A depreciation of the dollar against euro today makes euro deposit less attractive on the condition that expected future dollar/euro rate and interest rates do not change.( )8. all else equal, a decrease of the interest paid on deposit of US dollars causes dollars to appreciate against foreign currency.( )9. New York. is the largest foreign exchange market in the world. ( )10. A fall in the expected future exchange rate causes a fall in the current exchange rate.Ⅲ. Answer the following questions:1. Currently, the spot exchange rate is US$1=SF1.50 and the expected exchange rate for six month is SF1.55. the interest rate is 8% in the US per annum and 10% in the Switzerland per annum. （1）Determine whether interest rate parity is currently holding.（2）If it is not holding, what will happen in the foreign exchange market?.（3）If the expected exchange rate is unchanged, what is the spot rate when foreign exchange rate is inequilibrium?2.Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium ＄/￡exchange rateand its expected future level? Suppose the expected future ＄/￡exchange rate, ＄1.52 per pound, remains constant as Britain’s interest rate rises to 10 percent per year. If the U.S. interest rate also remains constant, what is the new equilibrium ＄/￡exchange rate?Quiz for Chapter 14Ⅰ. Fill the following blanks with the proper word or expression1. M1 includes __________.2. An economy 's money supply is controlled by _________________.3. Three main factors that determine aggregate money demand are4. When money supply equals money demand, we say that the money market is _______________________.5. A rise in the average value of transactions carried out by a household or firm cause its demand for money to.6. is an important phenomenon because it helps explain why exchange rates move so sharply from day to day.7. If the economy is initially at full employment, a permanent increase in the money supply eventually be followed byin the price level.8. Overshooting is a direct consequence of the short-run9. An economy’sis the position it would eventually reach if no new economic shocks occurred during the adjustment to full employment.10. All else equal, a permanent in a country’s money supply causes a proportional long-rundepreciation of its currency against foreign currencies.Ⅱ. True or false1. An increase in real output lowers the interest rate. ( )2. In the short run, a reduction in a country's money supply causes its currency to appreciate in the foreign exchange market. ( )3. All else equal, an increase in a country 's money supply causes a proportional increase in its price level in the long run. ( )3. All else equal, a rise in the interest rate causes the demand for money to fall. ( )4. If there is initially an excess demand of money, the interest rate falls in the short-run. ( )5. A rise in the average value of transactions carried out by a household or firm causes its demand for money to fall. ( )6. Given the price level and out put, an increase in the money supply lowers the interest rate. ( )7. A change in the supply of money has effect on the long-run values of the interest rate or real output. ( )8.The higher the interest rate, the more you sacrifice by holding wealth in the form of money. ( )9. An increase in real output lowers the interest rate, given the price level and the money supply( )10. An economy experiences inflation when its price level is falling. ( )Ⅲ. Answer the following questions:1. What is the short-run effect on the exchange rate when US government increases the money supply? (expectations about future exchange rate are unchanged)2.Please draw a group of pictures to show the time paths of U.S. economic variables after a permanent increase in the U.S. money supply growth rate according to the following:(1)The u.s. decided to increase the money supply growth rate permanently.The vertical axis is money supply and the horizontal axis is time.(2)The interest rate change,. The vertical axis is Dollar interest rate and the horizontal axis is time.(3)The price level change. The vertical axis is U.S price level and the horizontal axis is time.(4)The exchange rate change,. The vertical axis is the Dollar/Euro exchange rate and the horizontal axis is time.Ⅳ. CALCULATIONSuppose that the spot rate is €1 = US$1.2468 －78 and the six-month forward rate is €1 = US$1.2523－33, the interest rate per annum is 4% in the euro zone and 6% in the US. After carrying out interest arbitrage with €5,000,000 borrowed at the above-mentioned rate, please calculate your net interest arbitrage profit ( other costs ignored ).Quiz for Chapter 15Ⅰ. Fill the following blanks with the proper word or expression1. The equation for real interest parity is.2. The long-run relationship between inflation and interest rates is called .3. The equation for absolute PPP is _________________________.4. The equation for relative PPP is _________________________.5. The law of_______________ states that under free competition and in the absence of trade impediments, a good must sell for a single price regardless of where in the world it is sold.6. Equation$/$/()/E US q E P P ∈∈=⨯ shows that at unchanged output prices, nominal depreciation implies real.7. According to Fisher effect, if U.S. inflation were to rise, then U.S. dollar interest rates would_________________.8. _________________is the relative price of two output baskets, while _________________is the relative price of two currencies.9. Transport costs and government trade restrictions make it expensive to move goods between markets located in different countries and therefore weaken the _________________mechanism underlying PPP. 10. refer to those goods and services that can never be traded internationally at a profit.Ⅱ. True or false1. According to monetary approach, a rise in the interest rate on dollar will lead to the depreciation of the dollar in the long run.( )2. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )3. When demand for American products rises, there will be a long-run real depreciation of the dollar. ( )4. According to monetary approach, a rise in European output causes the Euro to appreciate. ( )5. When European output supply increases, there will be an appreciation of the euro. ( )6. Expected real interest rates are the same in different countries when relative PPP is expected to hold. ( )7. Based on the monetary approach, other things equal, a permanent rise in the U.S. money supply causes a proportional long-run appreciation of the dollar against euro. ( )8. At unchanged output prices, nominal depreciation implies real appreciation. ( )9. Departures from PPP may be even greater in the short run than in the long run because many prices in the economy are sticky and take time to adjust fully. ( )10. If all U.S. prices increase by 10% and the dollar depreciates against foreign currencies by 10%, absolute PPP will be satisfied (assuming there are no changes abroad) for any domestic and foreign choices of price level indexes. ( )Ⅲ. Answer the following questions :1. Suppose America’s inflation rate is 6% over one year, but the inflation rate in Italy is 12%. According to relative PPP, what should happen over the year to the dollar ’s exchange rate against the lira?2.How to explain the problems with PPP? Give the reasons.Quiz for Chapter 16Ⅰ. Fill the following blanks with the proper word or expression1. The aggregate demand for an open economy’s output consists of four components:2. The current account balance is determined by two main factors: and3. Equilibrium in the economy as a whole requires equilibrium in theas well as in the4. An temporary increase in the money supply causes aof the domestic currency, of output,and thereforein employment.5. Given a fixed exchange rate, when government demand increases, DD schedule will shift6. A reduction in money demand would shift AA ___________.7. __________ policy works through changes in government spending or taxes.8. If the economy starts at long-run equilibrium, a permanent change in fiscal policy has no net effect on .9. J-curve effects amplify the of exchange rates10. Because a permanent fiscal expansion changes exchange-rate expectations, the effect on output isif the economy stats in long-run equilibrium.Ⅱ. True or false1. If there is a decline in investment demand, the DD schedule will shift to the right. ( )2. The effect of real exchange rate increase on IM is ambiguous. ( )3. A temporary increase in the money supply, which does not alter the long-run expected exchange rate, causes a depreciation of the currency and a rise in output. Temporary fiscal expansion also has the same result. ( )4. Other things equal, a real depreciation of the home currency lowers aggregate demand for home output. ( )5. The DD Schedule shows all exchange rate and output levels at which the outputmarket is in short-run equilibrium. DD Schedule slopes upward. ( )6. A permanent fiscal expansion does not changes exchange-rate expectations. ( )7. Since the effect is the same of that of an increase in G, an increase in T must cause the DD Schedule to shift rightward. ( )8. A rise in R* causes an upward shift of AA. ( )9. Either an increase in the money supply or temporary fiscal ease can be used to maintain full employment. The two polices have no different effects at all. ( )10.If exports and imports adjust gradually to real exchange rate changes, the current account may follow a J-curve pattern after a real currency appreciation, first worsening and then improving. ( )11. The greater the upward shift of the asset market equilibrium schedule, the greater the appreciation of the currency. ( )12. Monetary expansion causes the current account balance to decrease in the short run. ( )13. Expansionary fiscal policy reduces the current account balance. ( )Ⅲ. Answer the following questions:1. A new government is elected and announces that once it is inaugurated, it will increase the money supply. Use the DD-AA model to study the economy’s response to this announcement.2. Please use AA and DD schedules to describe “The adjustment to a permanent increase in the money supply. ” The original point is at full employment.The vertical axis is exchange rate, the horizontal axis is output.3. If an economy does not start out at full employment,is it still true that a permanent change in fiscal policy has no current effect on output? Please use AA and DD schedules to describe it.Quiz for Chapter 17Ⅰ. Fill the following blanks with the proper word or expression1. Any central bank purchase of assets automatically results in an in the domestic money supply.2. The condition of the foreign exchange market equilibrium under a fixed exchange rate is .3. Under a fixed exchange rate, central bankpolicy tools is more effective.4. The expectation of a future devaluation causes ain the home interest rate above the world level.5. The main factor that may lead to imperfect asset substitutability in the foreign exchange market is .6. Between the end of World War II and 1973, was the main reserve currency.7. Under a gold standard, each country fixes the price of its currency in terms of .8. Under a _________, central bank monetary policy tools are powerless to affect the economy’s money supply or its output.9. A system which governments may attempt to moderate exchange rate movements without keeping exchangerates rigidly fixed is____________.10. Half way between the gold standard and a pure reserve currency standard is the __________.Ⅱ. True or false1. Any central bank sale of assets automatically causes the money supply to decline. ( )2. If central banks are not sterilizing and the home country has a balance of payments surplus, any increase in the home central bank’s foreign assets implies an decreased home money supply. ( )3. Under a fixed exchange rate, central bank monetary policy tools are powerful to affect the economy’s money supply. ( )4. The expectation of a future revaluation causes a rise in foreign reserves. ( )5 When domestic and foreign currency bonds are imperfect substitutes, equilibrium in the foreign market requires that the domestic interest rate equal the expected domestic currency return on foreign bonds subtract a risk premium. ( )6. Between the end of World War II and 1973, the exchange rate system was one in which exchange rate between any two currencies were floating. ( )7.Under the reserve currency standard, the center country has to intervene the exchange rate. ( )8. The central bank can negate the money supply effect of intervention through sterilization.( )9. A system of managed floating allows the central bank to retain some ability to control the domestic money supply, but at the cost of greater exchange rate instability.( )10. A world system of fixed exchange rates in which countries peg the prices of their currencies in terms of a reserve currency does not involve a striking asymmetry.()Ⅲ. Answer the following questions:1. Why governments sometimes choose to devalue their currencies?2. How does fiscal expansion affect a country’s output and the central bank’s balance sheet under fixed exchange rate?3. Can you think of reasons why a government might willingly sacrifice some of its ability to use monetary policy so that it can have stable exchange rates?4. Explain why temporary and permanent fiscal expansions do not have different effects under fixed exchange rates, as they do under floating.Quiz for Chapter 18—21Ⅰ. Fill the following blanks with the proper word or expression1. The channels of interdependence depend, in turn, on the monetary and exchange rate arrangements that countries adopt-a set of institutions called the （）.2. In open economies, policymakers are motivated by the goals of internal and external balance. Simply defined, ( )requires the full employment of a country’s resources and domestic price level stability.3. A country is said to be in( ) when the sum of its current and its no reserve capital accounts equals zero, so that the current account balance is financed entirely by international lending without reserve movements.4. The gold standard contains some powerful automatic mechanisms that contribute to the simultaneous achievement of balance of payments equilibrium by all countries .That mechanisms is( ).5. ( ) is one currency that may be freely exchanged for foreign currencies.6、Under the Bretoon Woods system ,( ) or ( )can be used to influence output and thus help the government achieve its internal goal of full employment.7、Fiscal policy is also called ( ),because it alters the level of the economy’s total demand for goods and services.; The accompanying exchange rate adjustment is called ( ), Because it changes the direction of demand ,shifting it between domestic output and imports.8、Bretton Woods system give ( )the leading position in the world economy.9、Bretton Woods system require that other currency should peg with ( )10、Under the fixed rate system, if the exchange rate change, the foreign reserves will ( )11、( ) symmetry and exchange rate as automatic stabilizers are the advantages of floating rate system.12、( ) predict the collapse of the Bretton Woods system.13、The level of ( ) in the European Union is too small to cushion member countries from adverse economic events.14、The ( ) schedule shows the relationship between the monetary efficiency gain and the degree of economic integration.Ⅱ. True or false1. In an open economy, macroeconomic policy has two basic goals, internal balance (full employment with price stability) and external balance (avoiding excessive imbalances in international payments)( )2. The gold standard era starts in 1861 and end in 1914.( )3. The countries with the weak investment opportunities should be net importers of currently available output (and thus have current account surpluses), while countries with the good investment opportunities should be net exporters of current output (and have current account deficits).( )4. Each member of IMF contributed to the Fund an amount of gold equal in value to three-fourth of its quota. The remaining one-fourths of its quota took the form of a contribution of its own national currency. ( )5、Balance of payment crisis became increasingly frequent and violent throughout the 1960 and early 1970s.The events led to the Bretoon Woods system’s collapse.（）6、One interpretation of the Bretoon Woods system’s collapse is that the foreign countries were forced to import US. Inflation through the mechanism to stabilize their price levels and regain internal balance, they had toabandon fixed exchange rates and allow their currency to float.（）7、Speculation on changes in exchange rats could lead to instability in foreign exchange markets . （）8.Under the fixed rate system, the government is required to use foreign reserve to stabilize exchange rate.（）9.The U.S. Federal Reserve played the leading role in determining their owns domestic money supply.（）10.Advocates of floating argued that floating rates would allow each country to choose its own desired long-run inflation rate rather than passively importing the inflation rate established abroad. （）11.The eight original participant in the EMS’s exchange rate mechanism------France, German, Italy, Belgium, Denmark, Ireland, Luxembourg, and the Netherlands. ( )。
国际经济学英文题库（最全版附答案）
国际经济学英文题库（最全版附答案）【国际经济学】英文题库Chapter 1: IntroductionMultiple-Choice Questions1. Which of the following products are not produced at all in the United States *A. Coffee, tea, cocoaB. steel, copper, aluminumC. petroleum, coal, natural gasD. typewriters, computers, airplanes2. International trade is most important to the standard of living of:A. the United States*B. SwitzerlandC. GermanyD. England3. Over time, the economic interdependence of nations has:*A. grownB. diminishedC. remained unchangedD. cannot say4. A rough measure of the degree of economic interdependence of a nation is giv en by:A. the size of the nations' populationB. the percentage of its population to its GDP*C. the percentage of a nation's imports and exports to its GDPD. all of the above5. Economic interdependence is greater for:*A. small nationsB. large nationsC. developed nationsD. developing nations6. The gravity model of international trade predicts that trade between two nat ions is largerA. the larger the two nationsB. the closer the nationsC. the more open are the two nations*D. all of the above7. International economics deals with:A. the flow of goods, services, and payments among nationsB. policies directed at regulating the flow of goods, services, and paymentsC. the effects of policies on the welfare of the nation*D. all of the above8. International trade theory refers to:*A. the microeconomic aspects of international tradeB. the macroeconomic aspects of international tradeC. open economy macroeconomics or international financeD. all of the above9. Which of the following is not the subject matter of international financeA. foreign exchange marketsB. the balance of payments*C. the basis and the gains from tradeD. policies to adjust balance of payments disequilibria10. Economic theory:A. seeks to explain economic eventsB. seeks to predict economic eventsC. abstracts from the many detail that surrounds aneconomic event*D. all of the above11. Which of the following is not an assumption generally made in the study of international economicsA. two nationsB. two commodities*C. perfect international mobility of factorsD. two factors of production12. In the study of international economics:A. international trade policies are examined before the bases for tradeB. adjustment policies are discussed before the balance of paymentsC. the case of many nations is discussed before the two-nations case*D. none of the above13. International trade is similar to interregional trade in that both must ove rcome:*A. distance and spaceB. trade restrictionsC. differences in currenciesD. differences in monetary systems14. The opening or expansion of international trade usually affects all members of society:A. positivelyB. negatively*C. most positively but some negativelyD. most negatively but some positively15. An increase in the dollar price of a foreign currency usually:A. benefit . importers*B. benefits . exportersC. benefit both . importers and . exportersD. harms both . importers and . exporters16. Which of the following statements with regard to international economics is trueA. It is a relatively new field*B. it is a relatively old fieldC. most of its contributors were not economistsD. none of the above思考题：1.为什么学习国际经济学非常重要2.列举体现当前国际经济学问题的一些重要事件，它们为什么重要3.当今世界面临的最重要的国家经济问题是什么全球化的利弊各是什么Chapter 2: The Law of Comparative AdvantageMultiple-Choice Questions1. The Mercantilists did not advocate:* tradeB. stimulating the nation's exportsC. restricting the nations' importsD. the accumulation of gold by the nation2. According to Adam Smith, international trade was based on:*A. absolute advantageB. comparative advantageC. both absolute and comparative advantageD. neither absolute nor comparative advantage3. What proportion of international trade is based onabsolute advantageA. AllB. most*C. someD. none4. The commodity in which the nation has the smallest absolute disadvantage is the commodity of its:A. absolute disadvantageB. absolute advantageC. comparative disadvantage*D. comparative advantage5. If in a two-nation (A and B), two-commodity (X and Y) world, it is establish ed that nation A has a comparative advantage in commodity X, then nation B must have:A. an absolute advantage in commodity YB. an absolute disadvantage in commodity YC. a comparative disadvantage in commodity Y*D. a comparative advantage in commodity Y6. If with one hour of labor time nation A can produce either 3X or 3Y while na tion B can produce either 1X or 3Y (and labor is the only input):A. nation A has a comparative disadvantage in commodity XB. nation B has a comparative disadvantage in commodity Y*C. nation A has a comparative advantage in commodity XD. nation A has a comparative advantage in neither commodity7. With reference to the statement in Question 6:A. Px/Py=1 in nation AB. Px/Py=3 in nation BC. Py/Px=1/3 in nation B*D. all of the above8. With reference to the statement in Question 6, if 3X is exchanged for 3Y:A. nation A gains 2X*B. nation B gains 6YC. nation A gains 3YD. nation B gains 3Y9. With reference to the statement of Question 6, the range of mutually benefic ial trade between nation A and B is:A. 3Y < 3X < 5YB. 5Y < 3X < 9Y*C. 3Y < 3X < 9YD. 1Y < 3X < 3Y10. If domestically 3X=3Y in nation A, while 1X=1Y domestically in nation B:A. there will be no trade between the two nationsB. the relative price of X is the same in both nationsC. the relative price of Y is the same in both nations*D. all of the above11. Ricardo explained the law of comparative advantage on the basis of:*A. the labor theory of valueB. the opportunity cost theoryC. the law of diminishing returnsD. all of the above12. Which of the following statements is trueA. The combined demand for each commodity by the two nations is negatively slop edB. the combined supply for each commodity by the two nations is rising stepwiseC. the equilibrium relative commodity price for each commodity with trade isgiven by the intersection of the demand and supply of each commod ity by the two nations*D. all of the above13. A difference in relative commodity prices between two nations can be based upon a difference in:A. factor endowmentsB. technologyC. tastes*D. all of the above14. In the trade between a small and a large nation:A. the large nation is likely to receive all of the gains from trade*B. the small nation is likely to receive all of the gains from tradeC. the gains from trade are likely to be equally sharedD. we cannot say15. The Ricardian trade model has been empirically*A. verifiedB. rejectedC. not testedD. tested but the results were inconclusive思考题：比较优势原理所带来的贸易所得是从何而来的贸易利益又是如何分配的现实世界中比较优势是如何度量的你认为目前中国具有比较优势的商品有哪些这意味着什么比较优势会不会发生变化什么样的原因可能会导致其变化经济学家是如何验证比较优势原理的Chapter 3: The Standard Theory of International TradeMultiple-Choice Questions1. A production frontier that is concave from the origin indicates that the nat ion incurs increasing opportunity costs in the production of:A. commodity X onlyB. commodity Y only*C. both commoditiesD. neither commodity2. The marginal rate of transformation (MRT) of X for Y refers to:A. the amount of Y that a nation must give up to produce each additional unit o f XB. the opportunity cost of XC. the absolute slope of the production frontier at the point of production*D. all of the above3. Which of the following is not a reason for increasing opportunity costs:*A. technology differs among nationsB. factors of production are not homogeneousC. factors of production are not used in the same fixed proportion in the produ ction of all commoditiesD. for the nation to produce more of a commodity, it must use resources that ar e less and less suited in the production of the commodity4. Community indifference curves:A. are negatively slopedB. are convex to the originC. should not cross*D. all of the above5. The marginal rate of substitution (MRS) of X for Y in consumption refers to the:A. amount of X that a nation must give up for one extra unit of Y and still rem ain on the same indifference curve*B. amount of Y that a nation must give up for one extra unit of X and still re main on the same indifference curveC. amount of X that a nation must give up for one extra unit of Y to reach a hi gher indifference curveD. amount of Y that a nation must give up for one extra unit of X to reach a hi gher indifference curve6. Which of the following statements is true with respect to the MRS of X for YA. It is given by the absolute slope of the indifference curveB. declines as the nation moves down an indifference curveC. rises as the nation moves up an indifference curve*D. all of the above7. Which of the following statements about community indifference curves is t rueA. They are entirely unrelated to individuals' community indifference curvesB. they cross, they cannot be used in the analysis*C. the problems arising from intersecting community indifference curves can be overcome by the application of the compensation principleD. all of the above.8. Which of the following is not true for a nation that is in equilibrium in isolation*A. It consumes inside its production frontierB. it reaches the highest indifference curve possible with itsproduction front ierC. the indifference curve is tangent to the nation's production frontierD. MRT of X for Y equals MRS of X for Y, and they are equal to Px/Py9. If the internal Px/Py is lower in nation 1 than in nation 2 without trade:A. nation 1 has a comparative advantage in commodity YB. nation 2 has a comparative advantage in commodity X*C. nation 2 has a comparative advantage in commodity YD. none of the above10. Nation 1's share of the gains from trade will be greater:A. the greater is nation 1's demand for nation 2's exports*B. the closer Px/Py with trade settles to nation 2's pretrade Px/PyC. the weaker is nation 2's demand for nation 1's exportsD. the closer Px/Py with trade settles to nation 1's pretrade Px/Py11. If Px/Py exceeds the equilibrium relative Px/Py with tradeA. the nation exporting commodity X will want to export more of X than at equilibriumB. the nation importing commodity X will want to import less of X than atequilibriumC. Px/Py will fall toward the equilibrium Px/Py*D. all of the above12. With free trade under increasing costs:A. neither nation will specialize completely in productionB. at least one nation will consume above its production frontierC. a small nation will always gain from trade*D. all of the above13. Which of the following statements is falsegains from trade can be broken down into the gains from exchange and the ga ins from specializationB. gains from exchange result even without specialization*C. gains from specialization result even without exchangeD. none of the above14. The gains from exchange with respect to the gains from specialization are a lways:A. greaterB. smallerC. equal*D. we cannot say without additional information15. Mutually beneficial trade cannot occur if production frontiers are:A. equal but tastes are notB. different but tastes are the sameC. different and tastes are also different*D. the same and tastes are also the same.思考题：国际贸易的标准理论与大卫.李嘉图的比较优势原理有何异同两国仅仅由于需求偏好不同可以进行市场分工和狐狸贸易吗两国仅仅由于要素禀赋不同和/或生产技术不同可以进行分工和贸易吗Chapter 4: Demand and Supply, Offer Curves, and the T erms of TradeMultiple Choice Questions1. Which of the following statements is correctA. The demand for imports is given by the excess demandfor the commodityB. the supply of exports is given by the excess supply of the commodityC. the supply curve of exports is flatter than the total supply curve of the co mmodity*D. all of the above2. At a relative commodity price above equilibriumA. the excess demand for a commodity exceeds the excess supply of the commodityB. the quantity demanded of imports exceeds the quantity supplied of exports*C. the commodity price will fallD. all of the above3. The offer curve of a nation shows:A. the supply of a nation's importsB. the demand for a nation's exportsC. the trade partner's demand for imports and supply of exports*D. the nation's demand for imports and supply of exports4. The offer curve of a nation bulges toward the axis measuring the nationsA. import commodity*B. export commodityC. export or import commodityD. nontraded commodity5. Export prices must rise for a nation to increase its exports because the nat ion:A. incurs increasing opportunity costs in export productionB. faces decreasing opportunity costs in producing import substitutesC. faces decreasing marginal rate of substitution in consumption*D. all of the above6. Which of the following statements regarding partial equilibrium analysis is falseA. It relies on traditional demand and supply curvesB. it isolates for study one market*C. it can be used to determine the equilibrium relative commodity price but no t the equilibrium quantity with tradeD. none of the above7. Which of the following statements regarding partial equilibrium analysis is trueA. The demand and supply curve are derived from the nation's production frontie r and indifference mapB. It shows the same basic information as offer curvesC. It shows the same equilibrium relative commodity prices as with offer curves *D. all of the above8. In what way does partial equilibrium analysis differ from general equilibr ium analysisA. The former but not the latter can be used to determine the equilibrium price with tradeB. the former but not the latter can be used to determine the equilibrium quant ity with tradeC. the former but not the latter takes into consideration the interaction among all markets in the economy*D. the former gives only an approximation to the answer sought.9. If the terms of trade of a nation are in a two-nation world, those of the t rade partner are:A. 3/4*B. 2/3C. 3/2D. 4/310. If the terms of trade increase in a two-nation world, those of the trade pa rtner:*A. deteriorateB. improveC. remain unchangedD. any of the above11. If a nation does not affect world prices by its trading, its offer curve:A. is a straight lineB. bulges toward the axis measuring the import commodity*C. intersects the straight-line segment of the world's offer curveD. intersects the positively-sloped portion of the world's offer curve12. If the nation's tastes for its import commodity increases:A. the nation's offer curve rotates toward the axis measuring its import commod ityB. the partner's offer curve rotates toward the axis measuring its import commo dityC. the partner's offer curve rotates toward the axis measuring its export commo dity*D. the nation's offer curve rotates toward the axis measuring its export commo dity13. If the nation's tastes for its import commodity increases:A. the nation's terms of trade remain unchanged*B. the nation's terms of trade deteriorateC. the partner's terms of trade deteriorateD. any of the above14. If the tastes for a nation import commodity increases, trade volume:*A. increasesB. declinesC. remains unchangedD. any of the above15. A deterioration of a nation's terms of trade causes the nation's welfare t o:A. deteriorateB. improveC. remain unchanged*D. any of the above思考题：提供曲线如何推导有何用途两国贸易时的均衡商品价格是如何决定的受哪些因素影响贸易条件的含义是贸易条件的改善意味着什么哪些因素可能导致贸易条件的改善Chapter 5: Factor Endowments and the Heckscher-Ohlin TheoryMultiple-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. Which is not an assumption of the H-O model:A. the same technology in both nationsB. constant returns to scale*C. complete specializationD. equal tastes in both nations3. With equal technology nations will have equal K/L in production if: *A. factor prices are the sameB. tastes are the sameC. production functions are the sameD. all of the above4. We say that commodity Y is K-intensive with respect to X when:A. more K is used in the production of Y than XB. less L is used in the production of Y than X*C. a lower L/K ratio is used in the production of Y than XD. a higher K/L is used in the production of X than Y5. When w/r falls, L/KA. falls in the production of both commodities*B. rises in the production of both commoditiesC. can rise or fallD. is not affected6. 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 r/w7. A difference in relative commodity prices between nations can be based ona difference in:A. technologyB. factor endowmentsC. tastes*D. all of the above。
西方经济学习题集(双语版)
5 questions and answers
1-5 Why is entrepreneurial ability considered a category of economic resources, distinct from labor? What are the major functions of the entrepreneur? Entrepreneurial ability and labor are both human resources, but they perform different functions in the productive process. Entrepreneurial ability does not directly produce goods and services; it organizes the resources that do. Labor refers to the human inputs that directly engage in production. Entrepreneurs are risk-takers: They coordinate the activities of the other three inputs for profit—or loss, which is why they are called risk-takers. Entrepreneurs sometimes manage companies that they own, but a manager who is not an owner is not necessarily an entrepreneur but may be performing some of the entrepreneurial functions for the company. Entrepreneurs are also innovators, or perhaps inventors, and profits help to motivate such activities.
国际经济学(外语)习题10
Chapter 10 - Statement of International TransactionsI. Objective Questions1. Which of the following transactions would not be a component of the balance of trade?(a) an American automobile dealer buys cars from Volkswagon in West Germany.(b) an American multinational establishes a foreign subsidiary.(c) an American multinational receives a shipment of goods from its foreign subsidiary.(d) the U.S. exports wheat to Russia.2. Interest earned on American held foreign assets would be included in(a) the balance on merchandise trade.(b) the balance on goods and services.(c) the capital account balance.(d) none of the above.3. The capital account measures the(a) difference between capital inflows and outflows.(b) total value of foreign assets held.(c) total return on foreign assets.(d) all of the above.4. Under a system of fixed exchange rates, the exchange rate is maintained through(a) balance of payments disequilibrium.(b) maintaining a constant level of official reserves.(c) changes in the level of official reserves.(d) changes in the volume of international trade.5. Countries with a trade deficit are(a) usually capital-importing.(b) usually capital-exporting.(c) exporting more than they are importing.(d) none of the above.6. A U.S. government grant-in-aid to Poland would be included in(a) the balance on goods and services.(b) the balance on merchandise trade.(c) the current account balance.(d) none of the above.7. A decrease in foreign assets in the U.S. is a(a) capital outflow and a "minus" entry on the balance of payments.(b) capital outflow and a "plus" entry on the balance of payments.(c) capital inflow and a "minus" entry on the balance of payments.(d) capital inflow and a "plus" entry on the balance of payments.8. In the balance of payments accounts(a) both direct foreign investment (DFI) and income from it appear in the capital account.(b) DFI appears in the current account and income from it appears in the capital account.(c) DFI appears in the capital account and income from it appears in the current account.(d) both DFI and income from it appear in the current account.9. In the balance of payments accounts all of the following are autonomous items except(a) imports.(b) exports.(c) foreign investment.(d) changes in official reserves.10. Which of the following is a limitation of balance of payments statistics?(a) some accounts, such as private capital flows, are inaccurate.(b) the commodity composition of trade is not reflected.(c) the sales of foreign subsidiaries are not included.(d) all of the above.11. Which of the following is not an example of a unilateral transfer?(a) a U.S. foreign aid package to Pakistan.(b) a U.S. government loan to Poland.(c) money sent by naturalized Americans to their families in their home countries.(d) none of the above.12. Which governmental agency compiles international transactions statement statistics?(a) Special Trade Representative.(b) Franklin Mint.(c) Department of Commerce.(d) International Trade Commission.U.S. International Transactions Table 20XX ($ bill.)1. Merchandise exports 202. Merchandise imports -303. Service exports 104. Service imports -55. Income receipts on U.S. assets abroad 106. Income payments on foreign assets in the U.S. -57. Government grant, private remittances -58. Change in U.S. private assets abroad, net -109. Change in foreign private assets in the U.S., net 2010. Statistical discrepancy ?11. Change in U.S. Official Reserves, net -512. Change in Foreign Official Reserves, net 10 Use the above table to answer the next 10 questions.13. The statistical discrepancy entry should be(a) zero.(b) 10.(c) 5.(d) -10.14. The following items are autonomous:(a) 1 through 9.(b) 1 through 6.(c) 1 through 10.(d) 9 and 10.15. The following are financing items:(a) 5 through 7.(b) 5 through 9.(c) 11 and 12.(d) 1 through 7.16. The balance on merchandise trade is(a) -10.(b) 10.(c) 30.(d) 5.17. The balance on goods and services is(a) 10.(b) -10.(c) -5.(d) 5.18. The balance on current account is(a) 10.(b) -5.(c) 5.(d) -10.19. The financial account balance is(a) 10.(b) 0.(c) 5.(d) -5.20. The official reserve transactions balance is(a) 10.(b) -10.(c) 5.(d) -5.21. The overall international transactions statement indicates a(a) surplus of 10.(b) deficit of 10.(c) deficit of 5.(d) surplus of 5.22. The imbalance in the above question was balanced by(a) an increase in U.S. and decline in foreign official reserve assets.(b) a decrease in both U.S. and foreign official reserve assets.(c) an increase in both U.S. and foreign official reserve assets.(d) a decrease in U.S. and an increase in foreign official reserve assets.23. Which of the following balances is given attention by the news media because it is equated witha loss or gain of jobs?(a) official reserve transactions balance.(b) merchandise trade balance.(c) current account balance.(d) capital account balance.24. Which of the following gives rise to outpayments?(a) exports.(b) capital inflow.(c) receipts of income from past U.S. investments abroad.(d) capital outflow.25. The best overall measure of the surplus or deficit in the transactions statement is(a) changes in official reserve holdings.(b) balance on goods and services.(c) statistical discrepancy.(d) current account balance.26. The statistical discrepancy in the transactions statement is included in the(a) merchandise trade balance.(b) current account balance.(c) balance on goods and services.(d) capital account balance.27. Deficits on autonomous transactions under freely floating exchange rates result in(a) the statistical discrepancy.(b) variations in exchange rates.(c) changes in official reserve asset holdings.(d) changes in interest rates.28. Receipts of income from past U.S. investments are included in the transactions statement as(a) official reserve assets.(b) merchandise trade.(c) services.(d) private remittances.29. Annual U.S. investments abroad are included in the transactions statement as(a) official reserve assets.(b) services.(c) private remittances.(d) private capital flows.30. International transactions that constitute a response to general economic factors (i.e. relativeprices, interest rates) are termed(a) autonomous.(b) financing.(c) balancing.(d) transitory.。
西方经济学习题
西方经济学习题1. What is the law of supply and demand and how does it affect the price of goods and services in a market economy?- The law of supply and demand states that in a market economy, the price of goods and services is determined by the interaction of supply and demand. When the demand for a good or service increases, while the supply remns constant, the price of the good or service will increase. Conversely, when the supply of a good or service increases, while the demand remns constant, the price will decrease.2. Expln the concept of opportunity cost and provide an example.- Opportunity cost refers to the value of the next best alternative that is foregone when making a decision. It is the cost of choosing one option over another. For example, if a student has to choose between studying for an exam or going to a party, the opportunity costof attending the party is the potential grade improvement they could have achieved by studying.3. What is the difference between a monopolistic market and a perfectly competitive market?- In a monopolistic market, there is only one supplier or producer of a particular good or service. This lack of competition gives the monopoly power to set prices and control the market. In a perfectly competitive market, there are many small firms that produce similar or identical goods or services, and no single firm has control over the market. Prices are determined through competition, with no individual firm having the ability to influence prices.4. Define inflation and expln how it impacts the economy.- Inflation is the sustned increase in the general price level of goods and services over a period of time. It erodes the purchasing power of money, as the sameamount of money can buy fewer goods and services. This can lead to reduced economic stability, higher costs of living, and reduced consumer spending, which can negatively impact the overall economy.5. What is the role of the government in a market economy?- In a market economy, the role of the government is typically limited. However, it plays a crucial role in providing a legal framework for business transactions, enforcing contracts, protecting property rights, ensuring competition, and correcting market flures. The government also takes responsibility for public goods and services, such as infrastructure, education, and healthcare, which are not efficiently provided by the market alone.。
经济学原理对应练习题及答案（英文版）
经济学原理对应练习题及答案（英文版）1. T he word that comes from the Greek word for "one who managesa household" isa. market.b. consumer.c. producer.d. economy.2. T he word “economy” comes from the Greek word oikonomos,which meansa. “environment.”b. “production.”c. “one who manages a household.”d. “one who makes decisions.”3. R esources area. scarce for households but plentiful for economies.b. plentiful for households but scarce for economies.c. scarce for households and scarce for economies.d. plentiful for households and plentiful for economies.4. E conomics deals primarily with the concept ofa. scarcity.b. poverty.c. change.d. power.5. W hich of the following questions is not answered by thedecisions that every society must make?a. What determines consumer preferences?b. What goods will be produced?c. Who will produce the goods?d. Who will consume the goods?6. T he overriding reason as to why households and societies facemany decisions is that2 Chapter 1/Ten Principles of Economicsa. resources are scarce.b. goods and services are not scarce.c. incomes fluctuate with business cycles.d. people, by nature, tend to disagree.7. T he phenomenon of scarcity stems from the fact thata. most economies’production methods are not very good.b. in most economies, wealthy people consumedisproportionate quantities of goods and services.c. governments restricts production of too many goods andservices.d. resources are limited.8. A pproximately what percentage of the world's economiesexperience scarcity?a. 25%b. 50%c. 75%d. 100%9. W hen a society cannot produce all the goods and servicespeople wish to have, it is said that the economy isexperiencinga. scarcity.b. shortages.c. inefficiencies.d. inequities.10. F or society, a good is not scarce ifa. at least one individual in society can obtain all he orshe wants of the good.b. firms are producing the good at full capacity.c. all members of society can have all they want of thegood.Chapter 1/Ten Principles of Economics 3d. those who have enough income can buy all they want ofthe good.11. W hich of the following products would be considered scarce?a. golf clubsb. Picasso paintingsc. applesd. All of the above are correct.12. E conomics is the study ofa. production methods.b. how society manages its scarce resources.c. how households decide who performs which tasks.d. the interaction of business and government.14. I n most societies, resources are allocated bya. a single central planner.b. a small number of central planners.c. those firms that use resources to provide goods andservices.d. the combined actions of millions of households andfirms.15. T he adage, "There is no such thing as a free lunch," isusedto illustrate the principle thata. goods are scarce.b. people face tradeoffs.(to get something we like, weusually have to give up another thing we like)c. income must be earned.d. households face many decisions.18. W hich of the following statements best represents theprinciple represented by the adage, "There is no such thing as a free lunch"?4 Chapter 1/Ten Principles of Economicsa. Melissa can attend the concert only if she takes hersister with her.b. Greg is hungry and homeless.c. Brian must repair the tire on his bike before he can rideit to class.d. Kendra must decide between going to Colorado or Cancunfor spring break.19. T he principle that "people face tradeoffs" applies toa. individuals.b. families.c. societies.d. All of the above are correct.20. A typical society strives to get the most it can from itsscarce resources. At the same time, the society attempts to distribute the benefits of those resources to the members of the society in a fair manner. In other words, the society facesa tradeoff betweena. guns and butter.b. efficiency and equity.c. inflation and unemployment.d. work and leisure.21. G uns and butter are used to represent the classic societaltradeoff between spending ona. durable and nondurable goods.b. imports and exports.c. national defense and consumer goods.d. law enforcement and agriculture.22. W hen society requires that firms reduce pollution, there isa. a tradeoff because of reduced incomes to the firms'owners and workers.b. a tradeoff only if some firms are forced to close.Chapter 1/Ten Principles of Economics 5c. no tradeoff, since the cost of reducing pollution fallsonly on the firms affected by the requirements.d. no tradeoff, since everyone benefits from reducedpollution.23. A tradeoff exists between a clean environment and a higherlevel of income in thata. studies show that individuals with higher levels ofincome actually pollute less than low-income individuals.b. efforts to reduce pollution typically are notcompletely successful.c. laws that reduce pollution raise costs of production andreduce incomes.d. by employing individuals to clean up pollution,employment and income both rise.24. W hich of the following phrases best captures the notion ofefficiency?a. absolute fairnessb. equal distributionc. minimum wasted. equitable outcome25. W hich of the following is true?a. Efficiency refers to the size of the economic pie;equity refers to how the pie is divided.b. Government policies usually improve upon both equityand efficiency.c. As long as the economic pie continually gets larger, noone will have to go hungry.d. Efficiency and equity can both be achieved if theeconomic pie is cut into equal pieces.26. E fficiency means that6 Chapter 1/Ten Principles of Economicsa. society is conserving resources in order to save themfor the future.b. society's goods and services are distributed equallyamong society's members.c. society's goods and services are distributed fairly,though not necessarily equally, among society's members.d. society is getting the maximum benefits from its scarceresources.27. E conomists use the word equity to describe a situation inwhicha. each member of society has the same income.b. each member of society has access to abundant quantitiesof goods and services, regardless of his or her income.c. society is getting the maximum benefits from its scarceresources.d. the benefits of society's resources are distributedfairly among society's members.28. S enator Smith wants to increase taxes on people with highincomes and use the money to help the poor. Senator Jones argues that such a tax will discourage successful people from working and will therefore make society worse off. An economist would say thata. we should agree with Senator Smith.b. we should agree with Senator Jones.c. a good decision requires that we recognize bothviewpoints.d. there are no tradeoffs between equity and efficiency.29. W hich of the following words and phrases best captures thenotion of equity?a. minimum wasteb. maximum benefitChapter 1/Ten Principles of Economics 7c. samenessd. fairnessANS: D DIF: 1 REF: 1-1TOP: Equity MSC: Definitional30. W hen government policies are enacted,a. equity can usually be enhanced without an efficiencyloss, but efficiency can never be enhanced without an equity loss.b. efficiency can usually be enhanced without an equityloss, but equity can never be enhanced without an efficiency loss.c. it is always the case that either efficiency andfairness are both enhanced, or efficiency and equity are both diminished.d. None of the above are correct.ANS: D DIF: 2 REF: 1-1TOP: Government, Efficiency, Equity MSC: Applicative31. A likely effect of government policies that redistributeincome and wealth from the wealthy to the poor is that those policiesa. enhance equity.b. reduce efficiency.c. reduce the reward for working hard.d. All of the above are correct.ANS: D DIF: 2 REF: 1-1TOP: Government, Efficiency, Equity MSC: Interpretive8 Chapter 1/Ten Principles of Economics32. W hen the government implements programs such as progressiveincome tax rates, which of the following is likely to occur?a. Equity is increased and efficiency is increased.b. Equity is increased and efficiency is decreased.c. Equity is decreased and efficiency is increased.d. Equity is decreased and efficiency is decreased. ANS: B DIF:2 REF: 1-1TOP: Government, Efficiency, Equity MSC: Interpretive33. A s a result of a successful attempt by government to cut theeconomic pie into more equal slices,a. it is easier to cut the pie, and therefore the economycan produce a larger pie.b. the government can more easily allocate the pie to thosemost in need.c. the pie gets smaller, and there will be less pie overall.d. government will spend too much time cutting and itcauses the economy to lose the ability to produce enough pie for everyone.ANS: C DIF: 3 REF: 1-1TOP: Government, Efficiency, Equity MSC: Analytical34. W hen the government attempts to improve equity in an economythe result is oftena. an increase in overall output in the economy.b. additional government revenue since overall income willincrease.c. a reduction in equity.d. a reduction in efficiency.ANS: D DIF: 2 REF: 1-1TOP: Government, Efficiency, Equity MSC: InterpretiveChapter 1/Ten Principles of Economics 935. W hen the government redistributes income from the wealthy tothe poor,a. efficiency is improved, but equity is not.b. both wealthy people and poor people benefit directly.c. people work less and produce fewer goods and services.d. wealthy people consume fewer goods, but poor people consume more goods, resulting in no real change. ANS: C DIF: 2 REF: 1-1TOP: Government, Efficiency, Equity MSC: Interpretive36. I n economics, the cost of something isa. the dollar amount of obtaining it.b. always measured in units of time given up to get it.c. what you give up to get it.d. often impossible to quantify, even in principle. ANS: C DIF: 1 REF: 1-1TOP: Opportunity cost MSC: Definitional37. W hat you give up to obtain an item is called youra. opportunity cost.b. explicit cost.c. true cost.d. direct cost.ANS: A DIF: 1 REF: 1-1TOP: Opportunity cost MSC: Definitional10 Chapter 1/Ten Principles of Economics38. T he opportunity cost of going to college isa. the total spent on food, clothing, books, transportation, tuition, lodging, and other expenses.b. the value of the best opportunity a student gives up to attend college.c. zero for students who are fortunate enough to have all of their college expenses paid by someone else.d. zero, since a college education will allow a student toearn a larger income after graduation.ANS: B DIF: 2 REF: 1-1TOP: Opportunity cost MSC: Interpretive39. M aurice receives $100 as a birthday gift. In deciding how tospend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision isa. the value to Maurice of the option he would have chosenhad Option B not been available.b. the value to Maurice of Options A, C and D combined.c. $100.d. $300.ANS: A DIF: 2 REF: 1-1TOP: Opportunity cost MSC: ApplicativeChapter 1/Ten Principles of Economics 1140. A furniture maker currently produces 100 tables per week andsells them for a profit. She is considering expanding her operation in order to make more tables. Should she expand?a. Yes, because making tables is profitable.b. No, because she may not be able to sell the additionaltables.c. It depends on the marginal cost of producing more tablesand the marginal revenue she will earn from selling more tables.d. It depends on the average cost of producing more tablesand the average revenue she will earn from selling more tables.ANS: C DIF: 2 REF: 1-1TOP: Marginal changes MSC: Applicative41. F or most students, the largest single cost of a collegeeducation isa. the wages given up to attend school.b. tuition, fees, and books.c. room and board.d. transportation, parking, and entertainment.ANS: A DIF: 2 REF: 1-1TOP: Opportunity cost MSC: Interpretive12 Chapter 1/Ten Principles of Economics42. F or a college student who wishes to calculate the true costsof going to college, the costs of room and boarda. should be counted in full, regardless of the costs ofeating and sleeping elsewhere.b. should be counted only to the extent that they are moreexpensive at college than elsewhere.c. usually exceed the opportunity cost of going to college.d. plus the cost of tuition, equals the opportunity costof going to college.ANS: B DIF: 2 REF: 1-1TOP: Opportunity cost MSC: Applicative43. F or which of the following individuals would the opportunitycost of going to college be highest?a. a promising young mathematician who will command a highsalary once she earns her college degreeb. a student with average grades who has never held a jobc. a famous, highly-paid actor who wants to take time awayfrom show business to finish college and earn a degreed. a student who is the best player on his collegebasketball team, but who lacks the skills necessary to play professional basketballANS: C DIF: 2 REF: 1-1TOP: Opportunity cost MSC: ApplicativeChapter 1/Ten Principles of Economics 1344. W hen you calculate your true costs of going to college, whatportion of your room-and-board expenses should be included?a. Your full room-and-board expenses should always beincluded.b. None of your room-and-board expenses should ever beincluded.c. You should include only the amount by which yourroom-and-board expenses exceed the income you earn while attending college.d. You should include only the amount by which yourroom-and-board expenses exceed the expenses for rent and food if you were not in college.ANS: D DIF: 2 REF: 1-1TOP: Opportunity cost MSC: Applicative45. T he opportunity cost of an item isa. the number of hours needed to earn money to buy the item.b. what you give up to get that item.c. usually less than the dollar value of the item.d. the dollar value of the item.ANS: B DIF: 1 REF: 1-1TOP: Opportunity cost MSC: Definitional14 Chapter 1/Ten Principles of Economics46. M allory decides to spend three hours working overtime ratherthan watching a video with her friends. She earns $8 an hour.Her opportunity cost of working isa. the $24 she earns working.b. the $24 minus the enjoyment she would have received fromwatching the video.c. the enjoyment she would have received had she watchedthe video.d. nothing, since she would have received less than $24 ofenjoyment from the video.ANS: C DIF: 3 REF: 1-1TOP: Opportunity cost MSC: Applicative47. R ussell spends an hour studying instead of playing tennis.The opportunity cost to him of studying isa. the improvement in his grades from studying for thehour.b. the improvement in his grades from studying minus theenjoyment of playing tennis.c. the enjoyment and exercise he would have received hadhe played tennis.d. zero. Since Russell chose to study rather than to playtennis, the value of studying must have been greater than the value of playing tennis.ANS: C DIF: 3 REF: 1-1TOP: Opportunity cost MSC: ApplicativeChapter 1/Ten Principles of Economics 1548. C ollege-age athletes who drop out of college to playprofessional sportsa. are not rational decision makers.b. are well aware that their opportunity cost of attendingcollege is very high.c. are concerned more about present circumstances thantheir future.d. underestimate the value of a college education. ANS: B DIF:2 REF: 1-1TOP: Opportunity cost MSC: Interpretive49. A rational decisionmakera. ignores marginal changes and focuses instead on “thebig picture.”b. ignores the likely effects of government policies whenhe or she makes choices.c. takes an action only if the marginal benefit of thataction exceeds the marginal cost of that action.d. takes an action only if the combined benefits of thataction and previous actions exceed the combined costs of that action and previous actions.ANS: C DIF: 2 REF: 1-1TOP: Marginal changes MSC: Interpretive50. R ational people make decisions at the margin bya. following marginal traditions.b. behaving in a random fashion.c. thinking in black-and-white terms.d. comparing marginal costs and marginal benefits. ANS: D DIF: 1 REF: 1-1TOP: Marginal changes MSC: Interpretive。
大学经济练习题英语
大学经济练习题英语### University Economics Practice Problems in English#### Problem 1: Demand and Supply AnalysisScenario: A sudden cold wave in a tropical country has led to a surge in demand for electric heaters.1. Question: How will the market for electric heaters respond to this change in demand? Explain using the concepts of demand and supply.2. Answer: The increase in demand due to the cold wave will lead to a higher equilibrium price and quantity of electric heaters. Initially, the demand curve will shift to the right, indicating a higher quantity demanded at each price level. If the supply is inelastic in the short run, the price will increase significantly, and the quantity supplied will increase only slightly. Over time, as suppliers adjust to the new market conditions, the supply curve will shift to the right, leading to a new equilibrium with a lower price increase and a larger quantity supplied.#### Problem 2: Elasticity of DemandScenario: A new tax is imposed on luxury cars, increasing their price by 10%.1. Question: If the quantity demanded of luxury cars decreases by 20%, is the demand for luxury cars elastic,inelastic, or unitary elastic? Explain.2. Answer: The demand for luxury cars is elastic. Elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. In this case, the elasticity is \( \frac{20\%}{10\%} = 2 \). Since the elasticity is greater than 1, it indicates that the demand is elastic, meaning that consumers are sensitive to price changes and will significantly reduce their purchasesin response to a price increase.#### Problem 3: Consumer Surplus and Producer Surplus Scenario: The government decides to impose a price ceiling on a certain medication, setting it at a level lower than the market equilibrium price.1. Question: What will be the impact on consumer surplus, producer surplus, and total surplus in the market?2. Answer: The imposition of a price ceiling below the equilibrium level will result in a shortage. Consumer surplus will initially increase due to the lower price, but as the quantity supplied decreases, some consumers who would have been willing to pay the equilibrium price will not be able to purchase the medication, leading to a reduction in consumer surplus. Producer surplus will decrease as producers are not able to sell at the higher equilibrium price. Total surplus, the sum of consumer and producer surplus, will also decrease due to the inefficiency caused by the price ceiling.#### Problem 4: Production and CostsScenario: A factory produces widgets with two inputs: labor and capital. The total cost of production is increasing at a decreasing rate.1. Question: What can you infer about the returns to scale in the factory's production process?2. Answer: If the total cost of production is increasing at a decreasing rate, it suggests that the factory is experiencing increasing returns to scale. This means that as the factory increases its output, the cost per unit of output is decreasing. This could be due to the efficiency gains from specialization, the ability to purchase inputs in bulk, or other factors that reduce average costs as production scales up.#### Problem 5: Market StructuresScenario: A company is the sole producer of a unique product with no close substitutes.1. Question: What type of market structure does this company operate in, and how might this affect its pricing strategy?2. Answer: The company operates in a monopoly market structure, as it is the only producer of the product with no close substitutes. In a monopoly, the company has the power to set prices, as there is no competition. This may lead the company to set a price above the marginal cost of production to maximize profits. However, the company must also consider the elasticity of demand for its product, as very high prices could lead to a significant decrease in quantity demanded.#### Problem 6: International TradeScenario: A country has a comparative advantage in producing coffee but faces a trade barrier in the form of a tariff on imported coffee.1. Question: How might the tariff affect the domestic coffee market and international trade?2. Answer: The tariff on imported coffee will likely increase the domestic price of coffee, making it more expensive for consumers. Domestic producers may benefit from higher prices, but consumers will face a higher cost. Internationally, the tariff may reduce the quantity of coffee imported,potentially leading to trade imbalances or retaliation from trading partners. In the long run, the tariff could discourage efficient allocation of resources and reduce overall economic welfare.These problems are designed to test understanding of basic economic principles and their application to various market scenarios.。
（英文版）保罗。克鲁格曼《国际经济学》题库3
练习题三Part A Multiple ChoiceB E D D A D A A AC C A BD D1) International borrowing and lending may be interpreted as one form ofA) intermediate trade.B) inter-temporal trade.C) trade in services.D) unrequited international transfers.E) None of the above.2) International free labor mobility will under all circumstancesA) increase total world output.B) improve the economic welfare of everyone.C) improve the economic welfare of workers everywhere.D) improve the economic welfare of landlo rds (or capital owners) everywhere.E) None of the above.3) International labor mobilityA) leads to wage convergence by raising wages in destination country and lowering in source country.B) is in accordance with the specific factors model.C) is in accordance with the Heckscher-Ohlin factor proportions model.D) leads to wage convergence by raising wages in source and lowering them in destination country.E) is in accordance with scale economy model.4) If initially wages are higher in Home than in Foreign, then a movement of workers from Foreign to Home willA) lower the marginal product of labor in Foreign.B) raise total product in Foreign.C) raise the income of land owners in Foreign.D) raise the income of land owners in Home.E) None of the above.5) A country that has a comparative advantage in future production of consumption goodsA) will tend to be an international borrower.B) will tend to have low real interest rates.C) will tend to be an international investor or lender.D) will tend to have good work ethics.E) None of the above.6) Why a good is produced in two different countries is known as the question ofA) internalization.B) vertical integration.C) exploitation.E) None of the above.7) Direct foreign investment may take any of the following forms exceptA) investors buying bonds of an existing firm overseas.B) the creation of a wholly owned business overseas.C) the takeover of an existing company overseas.D) the construction of a manufacturing plant overseas.E) None of the above.8) Multinational corporationsA) increase the transfer of technology between nations.B) make it harder for nations to foster activities of comparative advantage.C) always enjoy political harmony in host countries in which their subsidiaries operate.D) require governmental subsidies in order to conduct worldwide operations.E) None of the above.9) The shift of labor-intensive assembly operations from the United States to Mexican maqiladora may be best explained in terms of a theory ofA) location.B) vertical integration.C) horizontal integration.D) internalization.E) None of the above.10) A lower tariff on imported steel would most likely benefitA) foreign producers at the expense of domestic consumers.B) domestic manufacturers of steel.C) domestic consumers of steel.D) workers in the steel industry.E) None of the above.11) In the country levying the tariff, the tariff willA) increase both consumer and producer surplus.B) decrease both the consumer and producer surplus.C) decrease consumer surplus and increase producer surplus.D) increase consumer surplus and decrease producer surplus.E) None of the above.12) If the tariff on computers is not changed, but domestic computer producers shift from domestically produced semiconductors to imported components, then the effective rate of protection in the computer industry willA) increase.C) remain the same.D) depend on whether computers are PCs or ʺSupercomputers.ʺE) None of the above.13) If a small country imposes a tariff, thenA) the producers must suffer a loss.B) the consumers must suffer a loss.C) the government revenue must suffer a loss.D) the demand curve must shift to the left.E) None of the above.14) The effective rate of protection measuresA) the ʺtrueʺ ad valorum value of a tariff.B) the quota equivalent value of a tariff.C) the efficiency with which the tariff is collected at the customhouse.D) the protection given by the tariff to domestic value added.E) None of the above.15) As globalization tends to increase the proportion of imported inputs relative to domestically supplied components,A) the nominal tariff automatically increases.B) the rate of (effective) protection automatically decreases.C) the nominal tariff automatically decreases.D) the rate of (effective) protection automatically increases.E) None of the above.PART B Short Question1.It has been argued that even if intra-European Union labor mobility were to be completelyremoved, one should not expect to observe massive, or even large reallocations of populations with the E.U. Discuss.T heoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) is associated with factor price equalization; so does completely free labor mobility. It therefore follows that if intra E.U. trade flourishes, as any restraints on trade there are abolished, the economic incentive for labor mobility will be removed. Since language and cultural differences remain, we would expect populations to tend to stay where they are.2.The two deadweight triangles are the Consumption distortion and Production distortionlosses. It is easy to understand why the Consumption distortion constitutes a loss for society. After all it raises the prices of goods to consumers, and even causes some consumers to drop out of the market altogether. It seems paradoxical that the Production distortion is considered an equivalent burden on society. After all, in this case, profits increase, and additional production (with itsassociated employment) comes on line. This would seem to be an offset rather than an addition to the burden or loss borne by society. Explain why the Production distortion is indeed a loss to society, and what is wrong with the logic that leads to the apparent paradox.T he Production Distortion represents an inefficient shift of societyʺs resources to produce a good, which it could not sell profitably at world prices. Since (with full employment assumed) these resources were formerly used to produce export goods, which could compete profitably, the net result is a loss in real income to the country.。
国际经济学练习题（英文版）
国际经济学练习题（英文版）Chapter 7: Economies of Scale, Imperfect Competition, and International Trade1. External economies of scale arise when the cost per unitA. rises as the industry grows larger.B. falls as the industry grows larger rises as the average firm grows larger.C. falls as the average firm grows larger.D. remains constant.E. None of the above.2. Internal economies of scale arise when the cost per unitA. rises as the industry grows larger.B. falls as the industry grows larger.C. rises as the average firm grows larger.D. falls as the average firm grows larger.E. None of the above.3. External economies of scaleA. may be associated with a perfectly competitive industry.B. cannot be associated with a perfectly competitive industry.C. tends to result in one huge monopoly.D. tends to result in large profits for each firm.E. None of the above.4. Internal economies of scaleA. may be associated with a perfectly competitive industry.B. cannot be associated with a perfectly competitive industry.C. are associated only with sophisticated products such as aircraft.D. cannot form the basis for international trade .E. None of the above.5. A monopolistic firmA. can sell as much as it wants for any price it determines in the market.B. cannot determine the price, which is determined by consumer demand.C. will never sell a product whose demand is inelastic at the quantity sold.D. cannot sell additional quantity unless it raises the price on each unit.E. None of the above.6. Monopolistic competition is associated withA. cut-throat price competition.B. product differentiation.C. explicit consideration at firm level of the feedback effects of other firms' pricing decisions.D. high profit margins.E. None of the above.7. The most common market structure isA. perfect competition.B. monopolistic competition.C. small-group oligopoly.D. perfectly vertical integration.E. None of the above.8. Modeling trade in monopolistic industries is problematic becauseA. there is no one generally accepted model of oligopoly behavior.B. there are no models of oligopoly behavior.C. it is difficult to find an oligopoly in the real world.D. collusion among oligopolists makes usable data rare.E. None of the above.9. Where there are economies of scale, the scale of production possible in a country is constrained byA. the size of the country.B. the size of the trading partner's country.C. the size of the domestic market.D. the size of the domestic plus the foreign market.E. None of the above.10. Where there are economies of scale, an increase in the size of the market willA. increase the number of firms and raise the price per unit.B. decrease the number of firms and raise the price per unit.C. increase the number of firms and lower the price per unit.D. decrease the number of firms and lower the price per unit.E. None of the above.11. The simultaneous export and import of widgets by the United States is an example ofA. increasing returns to scale.B. imperfect competition.C. intra-industry trade.D. inter-industry trade.E. None of the above.12. If output more than doubles when all inputs are doubled, production is said to occur under conditions ofA. increasing returns to scale.B. imperfect competition.C. intra-industry trade.D. inter-industry trade.E. None of the above.13. Intra-industry trade can be explained in part byA. transportation costs within and between countries.B. problems of data aggregation and categorization.C. increasing returns to scale.D. All of the above.E. None of the above.14. If some industries exhibit internal (firm specific) increasing returns to scale in each country, we should not expect to seeA. intra-industry trade between countries.B. perfect competition in these industries.C. inter-industry trade between countries.D. high levels of specialization in both countries.E. None of the above.15. Intra-industry trade is most common in the trade patterns ofA. developing countries of Asia and Africa.B. industrial countries of Western Europe.C. all countries.D. North-South trade.E. None of the above.16. International trade based on scale economies is likely to be associated withA. Ricardian comparative advantage.B. comparative advantage associated with Heckscher-Ohlin factor-proportions.C. comparative advantage based on quality and service.D. comparative advantage based on diminishing returns.E. None of the above.17. International trade based on external scale economies in both countries is likely to be carried out by aA. relatively large number of price competing firms.B. relatively small number of price competing firms.C. relatively small number of competing oligopolists.D. monopoly firms in each country/industry.E. None of the above.18. International trade based solely on internal scale economies in both countries is likely to be carried out by aA. relatively large number of price competing firms.B. relatively small number of price competing firms.C. relatively small number of competing oligopolists.D. monopoly firms in each country/industry.E. None of the above.19. A monopoly firm engaged in international trade willA. equate average to local costs.B. equate marginal costs with foreign marginal revenues.C. equate marginal costs with the highest price the market will bear.D. equate marginal costs with marginal revenues in both domestic and in foreign markets.E. None of the above.20. A monopoly firm will maximize profits byA. charging the same price in domestic and in foreign markets.B. producing where the marginal revenue is higher in foreign markets.C. producing where the marginal revenue is higher in the domestic market.D. equating the marginal revenues in domestic and foreign markets.E. None of the above.21. A firm in monopolistic competitionA. earns positive monopoly profits because each sells a differentiated product.B. earns positive oligopoly profits because each firm sells a differentiated product.C. earns zero economic profits because it is in perfectly or pure competition.D. earns zero economic profits because of free entry.E. None of the above.22. The larger the number of firms in a monopolistic competition situation,A. the larger are that country's exports.B. the higher is the price charged.C. the fewer varieties are sold.D. the lower is the price charged.E. None of the above.23. The monopolistic competition model is one in which there is/areA. a monopoly.B. perfect competition.C. economies of scale.D. government intervention in the market.E. None of the above.24. In industries in which there are scale economies, the variety of goods that a country can produce is constrained byA. the size of the labor force.B. anti-trust legislationC. the size of the market.D. the fixed cost.25. An industry is characterized by scale economies, andexists in two countries. Should these two countries engage in trade such that the combined market is supplied by one country's industry, thenA. consumers in both countries would suffer higher prices and fewer varieties.B. consumers in the importing country would suffer higher prices and fewer varieties.C. consumers in the exporting country would suffer higher prices and fewer varieties.D. consumers in both countries would enjoy fewer varieties available but lower prices.E. None of the above.26. An industry is characterized by scale economies and exists in two countries. In order for consumers of its products to enjoy both lower prices and more variety of choice,A. each country's marginal cost must equal that of the other country.B. the marginal cost of this industry must equal marginal revenue in the other.C. the monopoly must lower prices in order to sell more.D. the two countries must engage in international trade one with the other.E. None of the above.27. A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade one with the other, then we would expectA. the country in which the price of the product is lower will export the product.B. the country with a relative abundance of the factor ofproduction in which production of the product is intensive will export this product.C. each of the countries will export different varieties of the product to the other.D. neither country will export this product since there is no comparative advantage.E. None of the above.28. The reason why one country may export a product which is produced with positive scale economies isA. its labor productivity will tend to be higher.B. it enjoys a relative abundance of the factor intensely used in the product's production.C. its demand is biased in favor of the product.D. its demand is biased against the product.E. None of the above.29. Two countries engaged in trade in products with no scale economies, produced under conditions of perfect competition, are likely to be engaged inA. monopolistic competition.B. inter-industry trade.C. intra-industry trade.D. Heckscher-Ohlin trade.30. Two countries engaged in trade in products with scale economies, produced under conditions of monopolistic competition, are likely to be engaged inA. price competition.B. inter-industry trade.C. intra-industry trade.D. Heckscher-Ohlinean trade.E. None of the above.31. History and accident determine the details of trade involvingA. Ricardian and Classical comparative advantage.B. Heckscher-Ohlin model consideration.C. taste reversals.D. scale economies.E. None of the above.32. We often observe intra-industry North-South trade in "computers and related devices." This is due toA. classification and aggregation ambiguities.B. monopolistic competition.C. specific factors issues.D. scale economies.E. None of the above.33. We often observe "pseudo-intra-industry trade" between the United States and Mexico. Actually, such trade is consistent withA. oligopolistic markets.B. comparative advantage associated with Heckscher-Ohlin model.C. optimal tariff issues.D. huge sucking sound.E. None of the above.34. Intra-industry trade will tend to dominate trade flows when which of the following exists?A. Large differences between relative country factor availabilitiesB. Small differences between relative country factor availabilitiesC. Homogeneous products that cannot be differentiatedD. Constant cost industriesE. None of the above.35. The most common form of price discrimination in international trade isA. non-tariff barriers.B. Voluntary Export Restraints.C. dumping.D. preferential trade arrangements.E. None of the above.Essay Questions1. Why is it that an industry is operating under conditions of domestic internal scale economies (applies to firm in the country) - then the resultant equilibrium cannot be consistent with the pure competition model?2. Is it possible that if positive scale economies characterize an industry, that its equilibrium may be consistent with purely competitive conditions ? Explain how this could happen.3. If a scale economy is the dominant technological factor defining or establishing comparative advantage, then the underlying facts explaining why a particular country dominates world markets in some product may be pure chance, or historical accident. Explain, and compare this with the answer you would give for the Heckscher-Ohlin model of comparative advantage.4. It is possible that trade based on external scale economies may leave a country worse off than it would have been without trade. Explain how this could happen.5. If scale economies were not only external to firms, but were also external to individual countries. That is, the larger the worldwide industry (regardless of where firms or plants are located), the cheaper would be the per-unit cost of production.Describe what world trade would look like in this case.Quantitative/Graphing Problems1. The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. If it were unable to export, and was constrained by its domestic market, what quantity would it sell at what price?2. Now the monopolist discovers that it can export as much as it likes of its steel at the world price of $5/ton. It will therefore expand for- export production up to the point where its marginal cost equals $5. How much steel will the monopolist sell, and at what price?3. Given the opportunity to sell at world prices, the marginal (opportunity) cost of selling a ton domestically is what?4. While selling exports it would also maximize its domestic sales by equating its marginal (opportunity) cost to its marginal revenue of $5. How much steel would the firm sell domestically, and at what price?5. The Brazilian firm is charging its foreign (U.S.) customers one half the price it is charging its domestic customers. Is this good or bad for the real income or economic welfare of the United States? Is the Brazilian firm engaged in dumping? Is this predatory behavior on the part of the Brazilian steel company?。
4、专业外语(经济学题库)
问答：1.What is the money market ?Answer: the money market is actually a collection of financial markets in which investors trade financial instruments that are considered to be “just as good as money” these instruments include the following :-united states treasury(T-bill )-federal agency securities-commercial paper-Repurchase agreements-negotiable certificates of deposit-federal funds-short term municipal securities2.What is the LIBOR？LIBOR is the acronym of (stand for ) London Interbank Offered Rate. This is the average interest that banks charge when they make short term unsecured loans to other banks.3. How is the LIBOR calculated ? ( where is the Libor come from? )The British Bank Association (BBA ) survey 16 major different banks and ask them what rate they charge other banks when they borrow money. Once they compiled the result, they throw out the four highest rates , and throw out the four lowest rates and then take the average rate of the remaining 8 banks. The average rate is the result of the Libor rate. The BBA calculate the rate once a day .4.What does the LIBOR tell us when it rises ?When LIBOR is rising, it tell us one of the two things : 1) it tell us that interest rate in general is rising and thus LIBOR is also rising. 2) it tells us that lending banks believe the banks they are lending to have a higher risk of defaulting on the loan so the lending bank has to charge a higher interest rate to offset the risk.5.What does the LIBOR tell us when it falls?when LIBOR is falling, it tells us one of the two things : 1) it tells us the interest rate in general is falling and thus the LIBOR is also falling, 2) it tells us the lending banks believe the banks they are lending to have a lower risk of defaulting on the loan so the lending bank does not have to charge a higher interest rate to offset the risk.6.What is the TED spread ? /where it come from?The TED spread actually got its name from the two financial instruments. It compares the 3 month Treasury Bill and the Eurodollar futures contract. .The TED spread measures the difference between the yield of the 3 month T-bill and the value of the Eurodollar futures contract –which is based on the 3 month LIBOR rate. To calculate the TED spread, simply subtract the yield on the 3 month T-bill from value of Eurodollar contract.7.What is the Eurodollar ?Eurodollar is the US dollar denominated deposits of accounts that are outside USA.8.What does the TED spread tell us when it arisingWhen TED spread is increasing , it tells us either that banks believe the other banks they are lending to have a higher risk of defaulting on the loans so they are charging a higher interest rate to offset this risk or that investors are flocking to buy T-bills because they believe the stock market is faltering. It also tells us that the credit market are not functioning as smoothly as they could be. Which is a sign of economic contraction.9.What does the TED spread tell us when it decreasing?1. The bank believes the defaulting risk of the loan to other banks is lower.2. Investors are selling T-bills ,3.Credit Market is are functioning smoothly, a sign of economic expansion .10.What is the OIS ?OIS stands for overnight interest swaps , they are instruments that allow financial institutions to swap the interest rates they are paying without having to refinance or change the terms of the loans they have taken from other financial institutions.11.What does the Overnight index swap rate tell us ?The OIS rate itself does not tell us much valuable information, but if combine with LIBIR , and create the LIBOR OIS spread, it can indicate the health of the global credit market.The difference of the LIBOR and OIS rate indirectly measures the availability of the funds in the money market. Forwards give expectations for the future. The increased difference is primarily due to traders exiting “soon to expire positions ” earlier than usual.12.What is a future contract?A future contract is an agreement, traded on a futures exchange , to deliver acommodity or financial instrument for an agreed upon price at a standardizedfuture date.13.What is a 30-day fed funds futures contract ?A fed funds futures contract is an interest rate futures , the value of the futures contract is based on a fixed income security of interest rate . The underlying interest rates for the fed futures contract is the average daily effective federal funds rate for the delivery month. The final settlement price for a contract is 100 minus this average rate.14.What is the Economics of Structured Finance?The essence of structured finance activities is the polling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known as tranches, against these collateral pools.15，The Two Key Features of the Structured Finance Machinery?First, it amplifies the errors in evaluating the risk of the structured assets thus even an modest imprecision in the parameter estimates can lead to variation expanded from risk-free to default.Second, the securitization process substitutes risks that are largely diversifiable for the risks that are highly systematic.16,Two Features of the Structured Finance products?The extreme fragility of their ratings to modest imprecision in evaluating underlying risks and their exposure to systematic risks.名词短语,名词解释量化宽松：quantitative easing按揭支持证券：Mortgage-Backed Security隔夜指数掉期：ois overnight index swaps债务抵押债券：CDO,collateralized debt obligationLIBOR: London Interbank Offered Rate衍生品的定义：Derivatives are financial instruments derived from stocks, bonds, loans, currencies and commodities, or linked to specific events, such as changes in the weather.MBS(Mortgage-Backed Security)称为抵押支持债券或者抵押贷款证券化:Tranches::a prioritized capital structure of claims against the underlying pools.论述：中国的金融体系Modern finance system in west country is more developed, for example the United States, the United Kingdom and Japan. China’s finance system also has its own features. Broadly speaking, we have four sectors, the first sector is banking sector, the second sector is non-banking financial institutions, the third sector is financial markets and the last sector is regulatory commissions.We take look the first sector. In banking sector, we have four different sub-sectors. The first one is the People's Bank of China (PBC) which is the central bank of china. Policy banks include China Development Bank, The Export-Import Bank of China , and Agricultural Development Bank of China. For state-owned commercial banks, we have Bank of China, Industrial and Commercial Bank of China, Agricultural Development Bank of China, and China Construction Bank. In additional to these state-owned commercial banks, we also have other Commercial Banks, such as Citic bank, Huaxia Bank, China Merchants Bank, Pudong Development Bank and so on.Non-banking financial institutions are same important for the China’s finance system as well. For example, securities company, insurance company, trust company and financial asset management company. They have made a great contribution to the development of the china’s economy.The financial markets in china include money market, bond market, stock market, futures market and so on. The money market is actually a collection of financial markets in which investors trade financial instruments. The stock market and the futures market which belong to capital market are both virtual economy.We have a very complex regulation system in China due to historical reason. The regulatory commissions contain many components. In additional to the central bank of china, the insurance regulation commission, banking regulation commission, and securities regulation commission, take the responsibility of supervising China’s finance system.。
英文版保罗克鲁格曼国际经济学题库
练习题五：A E C A D C D D E D A D1．Which of the following statements is the most accurate The law of one price states:A) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency.C) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price.D) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.E) None of the above.2. In order for the condition E$/HK$ = Pus/PHK to hold, what assumptions does the principle of purchasing power parity makeA) No transportation costs and restrictions on trade; commodity baskets that are a reliable indication of price level.B) Markets are perfectly competitive, ., P = MC.C) The factors of production are identical between countries.D) No arbitrage exists.E) A and B.3. Under Purchasing Power Parity,A) E$/E = PiUS/PiE.B) E$/E = PiE/PiUS.C) E$/E = PUS/PE.D) E$/E = PE/PES.E) None of the above.4. In the short run,A) the interest rate can rise when the domestic money supply falls.B) the interest rate can decrease when the domestic money supply falls.C) the interest rate stays constant when the domestic money supply falls.D) the interest rate rises in the same proportion as the domestic money supply falls.E) None of the above.5. The PPP theory fails in reality becauseA) transport costs and restrictions on trade.B) monopolistic or oligopolistic practices in goods markets.C) the inflation data reported in different countries are based on different commodity baskets.D) A, B, and C.E) A and B only.6. The PPP theory fails in reality becauseA) transport costs and restrictions on trade.B) monopolistic or oligopolistic practices in goods markets.C) the inflation data reported in different countries are based on different commodity baskets.D) A, B, and C.E) A and B only.7. A country?s domestic currency?s real exchange rate, q, is defined asA) E.B) E times P.C) E times P.D) (E times P)/P.E) P/(E times P).8. In the short-run, any fall in EP/P, regardless of its causes, will causeA) an upward shift in the aggregate demand function and an expansion of outputB) an upward shift in the aggregate demand function and a reduction in outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intact9. In the short-run, a temporary increase in money supplyA) shifts the DD curve to the right, increases output and appreciates the currency.B) shifts the AA curve to the left, increases output and depreciates the currency.C) shifts the AA curve to the left, decreases output and depreciates the currency.D) shifts the AA curve to the left, increases output and appreciates the currency.E) shifts the AA curve to the right, increases output and depreciates the currency.10. Temporary tax cuts would cause:A) the AA-curve to shift left.B) the AA-curve to shift right.C) the DD-curve to shift left.D) the DD-curve to shift right.E) a shift in the AA-curve, although the direction is ambiguous.11. In the short-run, a temporary increase in the money supplyA) shifts the AA curve to the right, increases output and depreciates the currency.B) shifts the AA curve to the left, increases output and depreciates the currency.C) shifts the AA curve to the left, decreases output and depreciates the currency.D) shifts the AA curve to the left, increases output and appreciates the currency.E) shifts the AA curve to the right, increases output and appreciates the currency.12. Assume the asset market is always in equilibrium. Therefore a fall in Y would result in:A) higher inflation abroad.B) a decreased demand for domestic products.C) a contraction of the money supply.D) a depreciation of the home currency.E) an appreciation of the home currency.13. What can explain the failure of relative PPP to hold in realityGovernment measures of the price level differ from country to country. One reason for these differences is that people living in different countries spend their income in different ways. Because of this inherent difference among countries, certain baskets will be affected more by price changes given their consumptions basket. For example, consumers in country, X, eats more fish relative to another country. More than likely, the government, upon determining a commodity basket to reflect preference, will have an overwhelming representation of fish in their basket. Any price level change in the fish market will be felt particularly by country X, and their overall price level will reflect this. Thus, changes in the relative prices of basket components can cause relative PPP to become distorted.14. Using a figure show that under full employment, a temporary fiscal expansion would increase output (overemployment) but cannot increase output in the long run.A temporarily fiscal expansion will move the economy from DD1 to DD2, and output increases. A permanent fiscal expansion will also shift the AA curve to the left and down. The nominal exchange rate appreciates, . E decreases.15. Using the DD model, explain what happens to out put when Government demands increase. Use a figure to explain when it is taking place.T he figure below shows the G1 to G2 raises output at every level of the exchange rate. The change shifts the DD to the right. Which in turns increases output to Y2.。
《西方经济学》考试题.doc
《西方经济学》考试题Fill in the blanks:1., the object of microeconomics is economic units, and the problem is.2., the two requirement for the formation of demand means,・The 3. demand function represents the various possible and possible relationships of a particular commodity in the market at a given time ・The 5. demand curve moves to the right, which means demand at the same price level, which will inevitably lead to a balanced quantity・6. the change in demand is caused by changes in the quantity of the goods, the amount of the purchase, and the change in the demandA change in the amount of purchases that is caused by other factors on the basis of.7.,both ineluded and included in the earnings・8.,EngeV s Law means that with the increase in income, the amount of money spent in China will become more and more important in the entire monetary income・9.,the Engel coefficient is an important indicator of the residents ・The 10. cardinal utility theory holds that utility is a sum that can be sum added, so that the utility size can be usedCome express・11・，if the marginal utility of a commodity is zero, it means the total utility of the commodity・12., the Ed二2. 5 of a commodity is known. If the other conditions remain the same, the seller wants to get more of the total income, and he should make the price・13., when the marginal utility is positive, the total utility and the marginal utility are 0, the total utility is the total utility・Only the portfolio of goods on the line of budget constraint and indifference curve is the product group and・14.in economic analysis, the principle of maximum profit is equal to.15.western economics holds that wages, rents, interest and profits are labor, andThe price is the use of these factors of production.16.Lorenz curve is used to measure the average degree of curve・The formula of 17. Gini coefficient is that the Gini coefficient is zero, and the income is. When the Gene coefficient is equal to 1, what is the income?18.the cost of the line is a show that in certain conditions, analysis of the maximum combination of two production factors, the producer to buy into the most suitable combination of production factors must be,and this isOr.19.the main way that unions force capitalists to increase wages is to,,.20.the demand for capital, that is, investment, changes with interest rates; the supply of capital, that is, savings, and interest rates change・21.,production factors refer to the resources used in productive forces・ These resources can be divided into,22.two kinds of complementary goods between price and demand intodirection, two kinds of commodity substitution between price and demand into _ direction changes23., the oligopoly market is the market structure that the firm completely controls an industry. The limits of the oligopoly market are controlled by the firm as a whole・24.when the price of a commodity rises by 6%. When demand falls by 6%, the commodity is elasticity of demand・ When the price of a commodity drops by 5% and demand increases by 3%. This commodity is a demand elasticity・25., the production of a certain amount of a product required for the production of various factors with the ratio known as.26., the land demand curve is a line, the land supply line curve isa line, it represents・27., the reason why Marginal Diminishing Returns act is that,・28.the law of demand function is the __________ available demand.Twenty-nineIf a commodity is elastic in demand, then the price and the total income change: if a commodity is inelastic in demand, then the price and the total income change・30. , the basic difference between normative economic analysis and empirical economic analysis is whether it is based on certain.Two 、judgment questions1,the larger the slope of the demand curve, the less elasticity of demand・ F2,generally speaking, the necessities of life elasticity is less than 1, which shows that consumers in such goods at a low price will be less than the total expenditure when the total price. T3,the demand curve slopes downward to the right and can be explained by income effects and substitution effects・ T4,the difference between positive economic analysis and normative economic analysis is whether it is based on a certain value・ T5, a commodity in its established demand curve, the demand elasticity must be the same・ F6,the scarcity of resources determines that resources can be fully utilized, and no waste of resources occurs・ F7,the price elasticity of demand is greater than 1 of the goods, more suitable for small profits but quick turnover・ T8,the lower bound of a product's price must be higher than its equilibrium price・ T9,the problem that microeconomics wants to solve is resource utilization, the problem that macroscopical economics wants to solve is resource allocation. F10.,for consumer equilibrium, if the ordinal utility theory and the cardinal utility theory are analyzed from two different perspectives, the results must be different・ F11,each point on the budget constraint line represents a different number of goods that consumers may buy when income is fixed・ T12,if a person chooses to continue his studies instead of taking part in the work, his opportunity cost is his tuition during his studies ・ F13,the principle of maximum profit is marginal revenue equal to marginal cost・ T14,if marginal utility decreases, then the total utility decreases・ F15,The yield represented in the upper part of an equal yield line is greater than the output represented at the lower part of the line・ F16,in the eyes of western economists, normal profits are both entrepreneurial values・ T17,the law of diminishing marginal utility of goods can be explained by the diversity of its own uses. T18,under the condition that the income of the consumer and the price of the goods are certain, the budget constraint line is a certain straight line・ T19,in the short term, managers， salaries are variable costs・ F 20,there is no difference between fixed and variable costs inthe long run. T21., the distribution theory is actually the application of the equilibrium price theory in the allocation problem・ T22.in a perfectly competitive market, wages are entirely determined by the relation between supply and demand of labor・ T23., the supply of labor is the same as the supply of other commodities ・ The higher the price, the more the supply, therefore, the increase in wages can increase the supply of labor indefinitely. F24.,the interest rate changes in the same direction as the savings, and changes in the direction of the investment in the opposite direction. T25., the supply of land increases with the increase of land rent, so the land supply curve is a curve upward to the right. F26. a normal profit is a reward for taking risks・ F27., two companies produce the same product, one of which has broken into a new foreign market, which is a form of innovation. T28.,the development of the company into a multinational company, this is not innovation. F29., before the implementation of a policy, the Gini coefficient is 0.68. After the implementation of the policy, the Gini coefficient is 0.72, so the implementation of the policy helps to realize the equality of income distribution. F30.the actual Gini coefficient is always greater than zero and less than one. TThree, multiple-choice questions1.,the scarcity of resources means: (B)A,the world，s resources, will eventually be consumed by the production of more goodsB,compared to people，s infinite desires, the resources are always inadequateC,the absolute amount of resources needed to produce an object is very small2. , the problem of microeconomics is: (A)A,resource allocationB and resource utilizationHow can a single economic unit achieve maximum C?3.microeconomics holds that,The demand table and the curve indicate the price of a product at each price (A).A.purchasesB.reasons for price changesC.prices and purchases4.,when the consumer expects the future price of an item to rise, the current demand for the item will be: (C)A,decreaseB,unchangedC,increase5., in order to support agriculture, the government implements a lower price limit for agricultural products・ But in order to maintain the price above the equilibrium price, the government must: (B)A,the implementation of agricultural rationing systemB,the acquisition of surplus agricultural productsC,increase the tax on agricultural products6.in the case of household income at an average annual rate of $50000, what can be used as a requirement is: (C)A,the purchase price of 500 yuan per CD if cadresB,buy a car for 140 thousand yuanC,the purchase price of about 12000 yuan a set of home theater7., in general, consumer demand increases and demand increasesA.increaseB.decreaseC.invariant8.,the demand is completely inelastic and can be used with:(B)A, a line parallel to the horizontal axisB, a line parallel to the vertical axisC, a line that is tilted to the lower right9.under any other conditions, which of the following can cause the entire demand curve of gasoline to move to the right?・ A. car prices have risenB.rail and air transport costs improvedC.the advent of low-cost electric vehicles10., with the increase in production, the short-term average fixed costs ()A,increaseB,decreaseC invariant11.the point at which the marginal production curve intersects the average yield curve is: (C)A,when marginal production is greater than average yieldB and marginal production is less than average yieldC when the marginal production equals the average output12.in the following three cases, which one achieves the optimalcombination of factors of production: (C)A,MPK/PK<MP1, /PlB,MPK/PK>MP1, /PlC,MPK/PK二MP1, /Pl 14. , the known consumer income is 50 yuan, the price of goodsX is 5 yuan, the price of goods Y is 4 yuan. SupposeConsumers plan to buy 6 units of X goods and 5 units of Y goods, and the marginal utility of goods X and Y is 60 and 30 respectively. For maximum effectiveness, he should: (A)A,increase the purchase of X and reduce the amount of Y purchases B,gift purchase, Y, and reduced X purchasesC,while reducing the amount of X and Y purchases15., a consumer gradually increases the amount of consumption of a commodity until it reaches its utility maximization; in the process, the product is: (C)A,total utility and marginal utility are increasingB,total utility is decreasing, marginal utility is increasingThe total utility of C. is increasing, and marginal utility is decreasing16., if the marginal cost of increasing the output per unit is greater than the average variable cost before production increases, the average variable cost must be: (A) after the increase in productionA,increaseB,decreaseC,unchanged17.the following situation is marginal utility: (A)A and chocolate consumption increased from one to two, and the level of satisfaction increased from 5 utility units to 8 utility units, i ・e., 3 utility units were addedB,two chocolate consumption satisfaction level of 13 units of utilityC and consume two chocolates, and the average satisfaction level of each chocolate is 6.5 utility units18., consumer equilibrium is: (A)The point of tangency between the A and indifference curves and the possible line of consumptionThe intersection point of B and indifference curve and consumption possibility lineC any point on the indifference curve farthest from the origin19.if the price falls from 5 yuan to 4 yuan, the demand increases from 5 units to 10 units, then the seller，s total income is: (A)A.decreaseB.increaseC.remain the same20., if the production factor is continuously increased, the marginal production curve (B) is reached when the total output reaches the maximumA and average production curve intersectB cross the horizontal axisThe C intersects the vertical axisTwenty-oneIn a fully competitive market, the demand for labour depends mainly on: (A)A,labor pricesB and marginal productivity of laborC and the importance of labor in productionD and the supply of labor22.as wages increase: (C)A, the supply of labor will continue to increaseWhen the supply of labor and B increases to a certain extent,it will not increase or decreaseC,the supply of labor increases first, but when wages rise to a certain level, the supply of labor will not increase, but will decreaseD,the supply of labor will not increase in the short term23., the use of advaneed machinery instead of labor, this measure will A, the labor supply curve moves to the rightB, the labor supply curve moves to the leftC, the labor demand curve moves leftD, the labor demand curve moves to the rightlead to: (C)24.in the following manner, the Union adopts the method of (C) in order to raise wagesA, asking the government to increase importsB asked the government to encourage immigrants to enter the countryC has asked the government to limit the use of women workers and child laborersD,asking the government to increase working hours25., in a fully competitive market, the demand for labour depends mainlyon: (B)A. labor pricesMarginal productivity of B・ laborThe importanee of C・ labor in production26.,when the income distribution is absolutely average, the Gini coefficient is: (A)A equals zeroB equals oneC,greater than zeroD greater than zero is less than one27. , market failure refers to (C)A.uneven allocation of resources between the private sector and the public sectorB.can not produce any fruitful market processC.market based inefficient allocation of resourcesD.unequal distribution of incomeThe 28. equal cost line moves outward and outward, indicating:(B)A. production has increasedA, the cost has increasedC.prices for factors of production have increased in different proportionsD.prices for factors of production have increased in the same proportionFour. Noun explanation1.,consumer surplus2., no difference curve,3. Gini coefficient,4. Kyrgyzstan, Fen goods, such as5. yield lines6. marginal utility7. Gene coefficient8. Supply theorem9. Opportunity cost 10. equilibrium priceFive・ Calculation questions1.in the commodity X market, the demand function of the market is D 二10-2P; the supply function is S二4P-2・(1)draw the market demand function and the market supply function of the commodity X in the same coordinate system, and point out the equilibrium point・(2)finding equilibrium price and balaneed production and sales.(3)assuming that the consumption income has increased, the individual demand curve shifts to the right of 6 units, asking for the market demand function and equilibrium price and balanced production and sales after the change of income・(4)assuming that the producer，s technological level has been greatly improved, the supply curve moves to the right 6 units, and the market supply function and equilibrium price and balanced production and sales after technological change are calculated・Solution:(1)at the⑵order D 二S, 10 - -2P=4P-2: P0=2, Q0二6⑶order D 二S, 10 - -2P+6=4P-2: P0二3, Q0二10⑷order D 二S, 10 - -2P=4P-2+6: P0二1, Q0=82.assume that someone decides to buy goods X, Y and Z three, and their prices are 2 yuan, 4yuan and 1 yuan respectively. The marginal utility brought by these goods is shown in the table・What should he do if the total amount of $17 is available to achieve the maximum utility?Make a purchase? (10 points)Quantity 123456MUX 504030201612MUY 604032242016MUZ 1098765Solution: (2, 4, 1)3.・ Sets the demand function of a cement plant for Q=400一2P, and asks:(1)the factory plans to sell 180 tons of cement every day. What is the price?(2)the price of cement is 150 dollars per ton・ How much can I sell per day?(3)how much is the price increase and the sales volume is 0?(4)the price elasticity of price per ton of cement at P = $120.Solution: (1) Q二400-2P, 180二400-2P, P=110 dollars(2)Q二400-2P二400-2*150二100 tons;(3)Q二400-2P二0 P二200 dollars(4)P二120 Q二400-2*1201604.the marginal utility of a person for X goods and Y goods is as follows:MUX 二20 - 2X and PX=2 yuanMUY二40 - 8Y and PY二4 yuanNow that he has $24 and wants to use it all, how much is his purchase of X goods and Y goods?Solution: 2X+4Y二120U二XY二(60-2Y) YX 二35.the cost function of the firm in the fully competitive industry is STC二Q3-6Q2+30Q+40, assuming the product price is $66.(1)the total output and profit for profit maximization;(2)as a result of the change in the supply and demand in the competitive market, the new price thus decided is 30 yuan, at the new priceIf the firm will make a loss, how much will the loss be?MOMR3Q2-12Q+30二66Q2-4Q-36二0Q二9R二TR-TC二66Q- (Q3-6Q2+30Q+40), calculate the result yourself。
英语国际经济英语30题
英语国际经济英语30题1. In an international trade transaction, if the seller is responsible for delivering the goods to the port of shipment but not for loading them onto the vessel, the appropriate trade term is:A. FOBB. CFRC. CIFD. EXW答案：A。
解析：FOB（Free on Board）指卖方在指定的装运港将货物交到买方指定的船上，卖方负责将货物运至装运港，不负责装船。
CFR Cost and Freight）卖方要负责运费但不负责保险。
CIF Cost, Insurance and Freight）卖方要负责运费和保险。
EXW（Ex Works）卖方在其所在地或其他指定的地点将货物交给买方处置时即完成交货。
所以此题选A。
2. When the seller is responsible for delivering the goods to the named port of destination and bears all risks and costs including duties, taxes and other charges until the goods are unloaded from the vessel, the trade term is:A. DDPB. DAPC. DATD. CPT答案：A。
解析：DDP（Delivered Duty Paid）指卖方在指定的目的地，办理完进口清关手续，将在交货运输工具上尚未卸下的货物交与买方，完成交货。
DAP（Delivered at Place）卖方在指定的目的地交货，但不负责卸货。
DAT Delivered at Terminal）卖方在指定港口或目的地的运输终端将货物卸下交给买方处置。
国际经济学（双语）第四章贸易政策工具习题
国际经济学（双语）第四章贸易政策⼯具习题Multiple Choice Questions1.Specific tariffs areA.import taxes stated in specific legal statutes.B.import taxes calculated as a fixed charge for each unit of importedgoods.C.import taxes calculated as a fraction of the value of the imported goods.D.the same as import quotas.E.None of the above.2. Ad valorem tariffs areA. import taxes stated in ads in industry publications.B. import taxes calculated as a fixed charge for each unit of importedgoods.C．i mport taxes calculated as a fraction of the value of the imported goods.D．the same as import quotasE．N one of the above.3.If a good is imported into (large) country H from country F, then the imposition ofa tariff in country HA.raises the price of the good in both countries ("the "Law of One Price").B.raises the price in country H and cannot affect its price in country F.C.lowers the price of the good in both countries.D.lowers the price of the good in H and could raise it in F.E.raises the price of the good in H and lowers it inF.4.If a good is imported into (small) country H from country F, then the impositionof a tariff In country HA.raises the price of the good in both countries ("the "Law of One Price").B.raises the price in country H and cannot affect its price in country F.C.lowers the price of the good in both countries.D.lowers the price of the good in H and could raise it in F.E.raises the price of the good in H and lowers it inF.5.The effective rate of protection measuresA.the "true" ad valorum value of a tariff.B.the quota equivalent value of a tariff.C.the efficiency with which the tariff is collected at the customhouse.D.the protection given by the tariff to domestic value added.E.None of the above.6.The imposition of tariffs on imports results in deadweight (triangle) losses. These areA.production and consumption distortion effects.B.redistribution effects.C.revenue effectsD.efficiency effects.E.None of the above.7. A lower tariff on imported steel would most likely benefitA.foreign producers at the expense of domestic consumers.B.domestic manufacturers of steel.C.domestic consumers of steel.D.workers in the steel industry.E.None of the above.8.Of the many arguments in favor of tariffs, the one that has enjoyed significant economic justification has been theA.cheap foreign labor argument.B.infant industry argument.C.even playing field argument.D.balance of payments argumentE.domestic living standard argument.9.The main redistribution effect of a tariff is the transfer of income fromA.domestic producers to domestic buyers.B.domestic buyers to domestic producers.C.domestic producers to domestic government.D.domestic government to domestic consumers.E.None of the above.10.The principle benefit of tariff protection goes toA.domestic consumers of the good produced.B.foreign consumers of the good produced.C.domestic producers of the good produced.D.foreign producers of the good produced.E.None of the above.11.As globalization tends to increase the proportion of imported inputs relative to domestically supplied components,A.the nominal tariff automatically increases.B.the rate of (effective) protection automatically increases.C.the nominal tariff automatically decreases.D.the rate of (effective) protection automatically decreases.E.None of the above.12.Which of the following policies permits a specified quantity of goods to be imported at one tariff rate and a higher tariff rate to imports above thisquantity?A.Import tariffB.Voluntary exports restraintC.Tariff quotaD.Ad valorum tariffE.None of the above.13.Should the home country be "large" relative to its trade partners, its imposition ofa tariff on imports would lead to an increase in domestic welfare if the termsof the trade rectangle exceed the sum of theA.revenue effect plus redistribution effect.B.protective effect plus revenue effect.C.consumption effect plus redistribution effect.D.protective distortion effect plus consumption distortion effect.E.None of the above.14.A problem encountered when implementing an "infant industry" tariff is thatA.domestic consumers will purchase the foreign good regardless of thetariff.B.the industry may never "mature".C.most industries require tariff protection when they are mature.D.the tariff may hurt the industry's domestic sales.E.None of the above.15.Which of the following is a fixed percentage of the value of an imported product?A.Specific tariffB.Ad valorem tariffC.Nominal tariffD.Effective protection tariffE.None of the above.16.A tax of 20 cents per unit of imported garlic is an example of a(n)A.specific tariff.B.ad valorem tariff.C.nominal tariff.D.effective protection tariff.E.None of the above.17.A tax of 20 percent per unit of imported garlic is an example of a(n)A.specific tariff.B.ad valorem tariff.C.nominal tariff.D.effective protection tariff.E.None of the above.18.Which type of tariff is forbidden in the United States on Constitutional grounds?A.Import tariffB.Export tariffC.Specific tariffD.Prohibitive tariffE.None of the above.19.Tariffs are not defended on the ground that theyA.improve the terms of trade of foreign nations.B.protect jobs and reduce unemployment.C.promote growth and development of young industries.D.prevent over-dependence of a country on only a few industries.E.None of the above.20.The most vocal political pressure for tariffs is generally made byA.consumers lobbying for export tariffs.B.consumers lobbying for import tariffs.C.consumers lobbying for lower import tariffs.D.producers lobbying for export tariffs.E.producers lobbying for import tariffs.21.A policy of tariff reduction in the computer industry isA.in the interest of the United States as a whole and in the interest ofcomputer producing regions of the country.B.in the interest of United States as a whole but not in the interest ofcomputer producing regions of the country.C.not in the interest of the United States as a whole but in the interests ofcomputer producing regions of the country.D.not in the interest of the United States as a whole and not in the interestsof computer consumers.E.None of the above.22.The fact that industrialized countries levy very low or no tariff on raw materialsand semi processed goodsA.helps developing countries export manufactured products.B.has no effect on developing country exports.C.hurts developing country efforts to export manufactured goods.D.hurts developing country efforts to export raw materials.E.None of the above.Essay Questions1.Economic theory in general, and trade theory in particular are replete withequivalencies. For example, it is argued that for any specific tariff one canfind an equivalent ad valorum tariff; and that for any quota one can calculate a tariff equivalent. Discuss conditions or situations under which a specific and an ad valorum tariff are not equivalent. Discuss conditions or situationswhen a tariff and a quota are not equivalent.2.The Metzler Paradox is a special case of the optimum tariff concept. Discussthis assertion. Would the optimum tariff tend to be a high one or a low one in the case where this paradox exists? What conditions would be needed inthe international markets for a country's exports for this paradox to exist?Why do you suppose empirical support for the existence of this paradox hasnot been forthcoming to date?3.Some argue that tariffs always hurt the imposing country's economic welfare,and are typically designed to shift resources from one sector to another,protected or preferred one, within an economy. Find and discuss acounterexample to this argument.4.The effective rate of protection is a weighted average of nominal tariffs andtariffs on imported inputs. It has been noted that in most industrializedcountries, the nominal tariffs on raw materials or intermediate components orproducts are lower than on final-stage products meant for final markets.Why would countries design their tariff structures in this manner? Who tendsto be helped, and who is harmed by this cascading tariff structure?5.The two deadweight triangles are the Consumption distortion and Productiondistortion losses. It is easy to understand why the Consumption distortionconstitutes a loss for society. After all it raises the prices of goods toconsumers, and even causes some consumers to drop out of the marketaltogether. It seems paradoxical that the Production distortion is considered an equivalent burden on society. After all, in this case, profits increase, andadditional production (with its associated employment) comes on line. Thiswould seem to be an offset rather than an addition to the burden or loss borneby society. Explain why the Production distortion is indeed a loss to society, and what is wrong with the logic that leads to the apparent paradox.Quantitative/Graphing Problems1.In the Figure above, in the absence of Trade how many Widgets does thiscountry produce and consume?2.In the absence of trade what is the country's consumer plus producer surplus?3.With free trade and no tariffs, what is the quantity of Widgets imported?4.With a specific tariff of $3 per unit, what is the quantity of Widget imports?5.The loss of Consumer Surplus due to the tariff equals6.The lowest specific tariff which would be considered prohibitive is。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
1. Price floor;2. Price ceiling;3. PPF;4. Opportunity cost;5. Normative statements;6. Positive statements;7. The income elasticity of demand;8. Consumer surplus;9. Producer surplus; 10. Excludability; 11. oligopoly; 12. Efficiency; 13.Concentration ratio; 14. Prisoner’s dilemma;15.PPF；16. Lump-sum taxes; 17. Externalities;18.Price elasticity of demand; 19. Coase theorem; 20. Welfare economics; 21. Tax incidence; 22. Natural monopoly; 23. Deadweight losses; 24. Tax incidence; 25. Price discrimination; 26. Laffer curve; 27. Collusion1. Suppose that a new invention increases the marginal productivity of labor, shifting labor demand to the right. Such an invention would be an example ofa. labor-saving technology.b. labor-augmenting technology.c. Luddite technology.d. supply-shifting technology.ANS: B2. Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured by thea. consumer's income divided by the price of hamburgers.b. relative price of books and hamburgers.c. consumer's marginal rate of substitution.d. number of books purchased divided by the number of hamburgers purchased.ANS: B3. When considering her budget, the highest indifference curve that a consumer can reach is thea. one that is tangent to the budget constraint.b. indifference curve farthest from the originc. indifference curve that intersects the budget constraint in at least two places.d. None of the above is correct; consumer preferences are bounded.ANS: A4. Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, while Sandy can make 6 tables or 18 chairs. Given this, we know thata. Mike has a comparative advantage in tables.b. Sandy has an absolute advantage in chairs.c. Mike has an absolute advantage in tables.d. Sandy has a comparative advantage in tables.ANS: D5. An increase in the overall level of prices in an economy is referred to asa. economic growth.b. inflation.c. the price effect.d. the demand effect.ANS: B6. It is possible for an economy to increase its production of computers and, at the same time, to increase its production of cars if the economya. moves downward and to the right along its production possibilities frontier and the frontieris bowed outward.b. moves upward and to the left along its production possibilities frontier and the frontier isbowed outward.c. moves in either direction along its production possibilities frontier and the frontier is astraight line.d. moves from a situation of inefficient production to a situation of efficient production. ANS: D7. Almost all economists agree that rent controla. has no effect on the rental income of landlords.b. allows the market for housing to work more efficiently.c. adversely affects the availability and quality of housing.d. is a very inexpensive way to help the most needy members of society.ANS: C8. To promote good economic outcomes, policymakers should strive to enact policies thata. enhance productivity.b. enhance individuals' market power.c. result in a rapidly-growing quantity of money.d. All of the above are correct.ANS: A9. For two individuals who engage in the same two productive activities, it is impossible for one of the two individuals toa. have a comparative advantage in both activities.b. have an absolute advantage in both activities.c. be more productive per unit of time in both activities.d. All of the above are correct.ANS: A10. Economists make assumptions in order toa. mimic the methodologies employed by other scientists.b. minimize the number of experiments that yield no useful data.c. minimize the likelihood that some aspect of the problem at hand is being overlooked.d. focus their thinking on the essence of the problem at hand.ANS: D11. Suppose a nation is currently producing at a point inside its production possibilities frontier. We know thata. the nation is producing beyond its capacity, and inflation will occur.b. the nation is not using all available resources or is using inferior technology or both.c. the nation is producing an efficient combination of goods.d. there will be a large opportunity cost if the nation tries to increase production of any good. ANS: B12. When economists make normative statements, they area. speaking as scientists.b. speaking as policy advisers.c. adhering very strictly to basic economic principles.d. revealing that they are very conservative in their views of how the world works.ANS: B13. People generally choose to depend upon others for goods and services. Economists view this interdependence asa. a good thing, since it fosters friendships and bonds that otherwise would never develop.b. a good thing, since it allows people to consume more goods and services than they wouldotherwise be able to consume.c. a bad thing, since self-sufficiency may become necessary in the future.d. a bad thing, since interdependence reduces people’s self-esteem and causes various socialproblems.ANS: B14. For an economist, the idea of making assumptions is regarded generally as aa. bad idea, since doing so leads to the omission of important ideas and variables fromeconomic models.b. bad idea, since doing so invariably leads to data-collection problems.c. good idea, since doing so helps to simplify the complex world and make it easier tounderstand.d. good idea, since economic analysis without assumptions leads to complicated results that thegeneral public finds hard to understand.ANS: C15. A competitive market is a market in whicha. an auctioneer helps set prices and arrange sales.b. there are only a few sellers.c. the forces of supply and demand do not apply.d. no individual buyer or seller has any significant impact on the market price.ANS: D16. The line that relates the price of a good to the quantity demanded of that good is called thea. demand schedule, and it slopes upward only if the good for which the line is drawn fails toconform to the law of demand.b. demand schedule, and it slopes upward only if the demand for the good in question, relativeto the demand for other goods, is increasing over time.c. demand curve, and it slopes upward only if there is a positive relationship between incomeand quantity demanded.d. demand curve, and it slopes downward as long as the good in question conforms to the lawof demand.ANS: D17. Suppose roses are currently selling for $40.00 per dozen, while the equilibrium price of roses is $30.00 per dozen. We would expect aa. shortage to exist and the market price of roses to increase.b. shortage to exist and the market price of roses to decrease.c. surplus to exist and the market price of roses to increase.d. surplus to exist and the market price of roses to decrease.ANS: D18. The difference between production possibilities frontiers that are bowed out and those that are straight lines is thata. bowed-out production possibilities frontiers apply to economies that face tradeoffs, whereasstraight-line production possibilities frontiers apply to economies that do not face tradeoffs.b. bowed-out production possibilities frontiers apply to economies in which resources are notspecialized, whereas straight-line production possibilities frontiers apply to economies inwhich resources are specialized.c. bowed-out production possibilities frontiers illustrate increasing opportunity cost, whereasstraight-line production possibilities frontiers illustrate constant opportunity cost.d. straight-line production possibilities frontiers illustrate real-world conditions, whereasbowed-out production possibilities frontiers illustrate more simplistic assumptions.ANS: C19. To say that the quantity demanded of a good is negatively related to the price of the good is to say thata. an increase in the quantity demanded of the good leads to a decrease in the price of thegood.b. an increase in the price of the good leads to a decrease in the quantity demanded of thegood.c. there is a weak relationship between the quantity demanded of a good and the price of thegood.d. there is no relationship between the quantity demanded of a good and the price of the good. ANS: B20. How does the concept of elasticity allow us to improve upon our understanding of supply and demand?a. Elasticity allows us to analyze supply and demand with greater precision than would be thecase in the absence of the elasticity concept.b. Ela sticity provides us with a better rationale for statements such as “an increase in x willlead to a decrease in y” than we would have in the absence of the elasticity concept.c. Without elasticity, we would not be able to address the direction in which price is likely tomove in response to a surplus or a shortage.d. Without elasticity, it is very difficult to assess the degree of competition within a market. ANS: A21. Which of the following events will definitely cause equilibrium quantity to fall?a. demand increases and supply decreasesb. demand and supply both decreasec. demand decreases and supply increasesd. demand and supply both increaseANS: B22. Which of the following statements about the price elasticity of demand is correct?a. The price elasticity of demand for a good measures the willingness of buyers of the good tomove away from the good as its price increases.b. Price elasticity of demand reflects the many economic, psychological, and social forces thatshape consumer tastes.c. Other things equal, if good x has close substitutes and good y does not have close substitutes,then the demand for good x will be more elastic than the demand for good y.d. All of the above are correct.ANS: D23. Which of the following events would cause the price of oranges to fall?a. There is a shortage of oranges.b. An article is published in which it is claimed that tangerines cause a serious disease, andoranges and tangerines are substitutes.c. The price of land throughout Florida decreases, and Florida produces a significantproportion of the nation’s oranges.d. All of the above are correct.ANS: C24. A perfectly elastic demand implies thata. buyers will not respond to any change in price.b. any rise in price above that represented by the demand curve will result in a quantitydemanded of zero.c. quantity demanded and price change by the same percent as we move along the demandcurve.d. price will rise by an infinite amount when there is a change in quantity demanded.ANS: B25. A price ceiling will be binding only if it is seta. equal to equilibrium price.b. above equilibrium price.c. below equilibrium price.d. none of the above; a price ceiling is never binding.ANS: C26. A tax on bicycles that buyers of bicycles are required to pay shiftsa. the demand curve downward, causing both the price received by sellers and the equilibriumquantity to fall.b. the demand curve upward, causing both the price received by sellers and the equilibriumquantity to rise.c. the supply curve downward, causing the price received by sellers to fall and the equilibriumquantity to rise.d. the supply curve upward, causing the price received by sellers to rise and the equilibriumquantity to fall.ANS: A27. Other things equal, the deadweight loss of a taxa. decreases as the size of the tax increases.b. increases as the size of the tax increases, but the increase in the deadweight loss is less rapidthan the increase in the size of the tax.c. increases as the size of the tax increases, and the increase in the deadweight loss is morerapid than the increase in the size of the tax.d. increases as the price elasticities of demand and/or supply increase, but the deadweight lossdoes not change as the size of the tax increases.ANS: C28. When demand is inelastic within a certain price range, then within that price range,a. an increase in price would increase total revenue because the decrease in quantity demandedis proportionately less than the increase in price.b. an increase in price would decrease total revenue because the decrease in quantity demandedis proportionately greater than the increase in price.c. a decrease in price would increase total revenue because the increase in quantity demandedis proportionately smaller than the decrease in price.d. a decrease in price would not affect total revenue.ANS: A29. A binding price floor in a market is seta. above equilibrium price and causes a shortage.b. above equilibrium price and causes a surplus.c. below equilibrium price and causes a surplus.d. below equilibrium price and causes a shortage.ANS: B30. Economists generally believe that rent control isa. an efficient and equitable way to help the poor.b. not efficient, but the best available means of solving a serious social problem.c. a highly inefficient way to help the poor raise their standard of living.d. an efficient way to allocate housing, but not a good way to help the poor.ANS: C31. Most labor economists believe that the supply of labor isa. less elastic than demand and, therefore, firms bear most of the burden of the payroll tax.b. less elastic than demand and, therefore, workers bear most of the burden of the payroll tax.c. more elastic than demand and, therefore, workers bear most of the burden of the payroll tax.d. more elastic than demand and, therefore, firms bear most of the burden of the payroll tax. ANS: B32. Which of the following is correct?a. Efficiency deals with the size of the economic pie and equity deals with how fairly the pie issliced.b. Equity can be judged on positive grounds whereas efficiency requires normative judgments.c. Efficiency is more difficult to evaluate than equity.d. Equity and efficiency are both maximized in a society when total surplus is maximized. ANS: A33. Private markets fail to reach a socially optimal equilibrium when positive externalities are present because thea. private benefit equals the social benefit at the private market solution.b. private cost exceeds the private benefit at the private market solution.c. social value exceeds the private value at the private market solution.d. private cost exceeds the social benefit at the private market solution.ANS: C34. The Laffer curve relatesa. the tax rate to tax revenue raised by the tax.b. the tax rate to the deadweight loss of the tax.c. the price elasticity of supply to the deadweight loss of the tax.d. government welfare payments to the birth rate.ANS: A35. The difference between a corrective tax and a tradable pollution permit is thata. a corrective tax sets the price of pollution and a permit sets the quantity of pollution.b. a corrective tax creates a more efficient outcome than a permit.c. a corrective tax sets the quantity of pollution and a permit sets the price of pollution.d. a permit creates a more efficient outcome than a corrective tax.ANS: A36. A Maine legislator wanted to create a deposit on cigarettes butts. If implemented, people would have the incentive to (1) not toss cigarette butts onto public streets and sidewalks, and (2) pick butts up to redeem them for the cash. The degradation of the environment from littered cigarette butts is aa. private goods problem.b. Nash equilibrium.c. Tragedy of the Commons.d. cost-benefit equilibrium.ANS: C37. When an oligopoly market reaches a Nash equilibrium,a. the market price will be different for each firm.b. the firms will not have behaved as profit maximizers.c. a firm will have chosen its best strategy, given the strategies chosen by other firms in themarket.d. a firm will not take into account the strategies of competing firms.ANS: C38. A profit-maximizing firm in a monopolistically competitive market is characterized by which of the following?a. Average revenue exceeds marginal revenueb. Marginal revenue exceeds average revenuec. Average revenue is equal to marginal revenued. Revenue is always maximized along with profitANS: A39. Monopolistically competitive firms have excess capacity. To maximize profits, firms willa. increase their output to lower their average total cost of production and eliminate the excesscapacity.b. produce where price equals marginal cost to eliminate the excess capacity.c. produce where average revenue equals marginal cost to eliminate the excess capacity.d. maintain the excess capacity.ANS: D40. A tax system with little deadweight loss and a small administrative burden would be described asa. equitable.b. communistic.c. capitalistic.d. efficient.ANS: D41. Which of the following is true of markets characterized by positive externalities?a. Social value exceeds private value, and market quantity exceeds the socially optimalquantity.b. Social value is less than private value, and market quantity exceeds the socially optimalquantity.c. Social value exceeds private value, and market quantity is less than the socially optimalquantity.d. Social value seldom exceeds private value; therefore, social quantity is less than privatequantity.ANS: CFigure 2The graph below depicts the cost structure for a firm in a competitive market.42. Refer to Figure 2. When price rises from P2 to P3, the firm finds thata. marginal cost exceeds marginal revenue at a production level of Q2.b. if it produces at output level Q3 it will earn a positive profit.c. expanding output to Q4 would leave the firm with losses.d. it could increase profits by lowering output from Q3 to Q2.ANS: C43. Young Johnny inherited the only local cable TV company in town after his father passed away. The company is completely unregulated by the government and is therefore free to operate as it wishes. Assuming that Johnny understands the true power of his new monopoly, he is probably most excited about which of the following statements?(i) He will be able to set the price of cable TV service at whatever level he wishes.(ii) T he customers will be forced to purchase cable TV service at whatever price he wants to set.(iii) He will be able to achieve any profit level that he desires.a. (i) onlyb. (ii) onlyc. (i) and (iii)d. All of the above are correct.ANS: A44. Marginal revenue can become negative fora. both competitive and monopoly firms.b. competitive firms, but not for monopoly firms.c. monopoly firms, but not for competitive firms.d. neither competitive nor monopoly firms.ANS: C45. According to the Coase theorem, private markets will solve externality problems and allocate resources efficiently as long asa. the externalities that are present are positive, not negative.b. government assigns property rights to the harmed party.c. private parties can bargain with sufficiently low transaction costs.d. businesses determine an appropriate level of production.ANS: C46. Which of the following is a characteristic of a more efficient tax system?a. The system minimizes deadweight loss.b. The system raises the same amount of revenue at a lower cost.c. The system minimizes administrative burdens.d. All of the above are correct.ANS: D47. Which of these assumptions is often realistic for a firm in the short run?a. The firm can vary both the size of its factory and the number of workers it employs.b. The firm can vary the size of its factory, but not the number of workers it employs.c. The firm can vary the number of workers it employs, but not the size of its factory.d. The firm can vary neither the size of its factory nor the number of workers it employs. ANS: C48. In the absence of taxes, Janet would prefer to purchase a large sport utility vehicle (SUV). The government has recently decided to place a $10,000 nuisance tax on SUVs. If Janet decides to purchase a small economy car as a result of the tax, which of the following statements is correct?a. Other people who choose to purchase SUVs will incur the cost of the deadweight loss of thetax.b. There are no deadweight losses as long as some people still choose to purchase SUVs.c. In order to determine the magnitude of the deadweight loss, we must add the revenues fromthe tax to the loss in Janet’s consumer surplus.d. Janet is worse off, and her loss of welfare is part of the deadweight loss of the tax.ANS: DFigure 149. Refer to Figure 1. Which of the figures represents the total cost curve for a firm?a. Figure 1b. Figure 2c. Figure 3d. Figure 4ANS: B50. "A $1,000 tax paid by a poor person may be a larger sacrifice than a $10,000 tax paid by a wealthy person" is an argument based ona. the horizontal equity principle.b. the benefits principle.c. a regressive tax argument.d. the ability-to-pay principle.ANS: DFigure 151. Refer to Figure 1. The firm experiences economies of scale if it changes its level of outputa. from Q1 to Q2.b. from Q2 to Q3.c. from Q3 to Q4.d. from Q4 to Q5.ANS: A52. The total cost curve gets steeper as output increases due toa. diseconomies of scale.b. economies of scale.c. diminishing marginal product.d. increasing returns to scale.ANS: C53. When a country is on the downward-sloping side of the Laffer curves, a cut in the tax rate willa. decrease tax revenue and decrease the deadweight loss.b. decrease tax revenue and increase the deadweight loss.c. increase tax revenue and decrease the deadweight loss.d. increase tax revenue and increase the deadweight loss.ANS: C54. Employing a lawyer to draft and enforce a private contract between parties wishing to solve an externality problem is an example ofa. an opportunity cost.b. an implicit cost.c. a sunk cost.d. a transaction cost.ANS: D55. Suppose that Martin owns a lighthouse, and Lewis owns a nearby port. Martin's lighthouse benefits only those ships that enter Lewis's port. Which of the following statements is not correct?a. Martin's lighthouse may be considered a private good.b. Martin can reduce the free-rider problem by charging Lewis a usage fee.c. Martin can exclude Lewis's port from benefiting from the lighthouse by simply turning thepower off.d. Martin's lighthouse would be considered a common resource.ANS: D56. Which of the following statements is correct?a. A price ceiling is not binding when the price ceiling is set above the equilibrium price.b. A price floor is not binding when the price floor is set below the equilibrium price.c. A binding price ceiling causes a shortage and a binding price floor causes a surplus.d. All of the above are correct.ANS: D57. Opponents of the minimum wage point out that the minimum wagea. encourages teenagers to drop out of school.b. prevents some workers from getting needed on-the-job training.c. contributes to the problem of unemployment.d. All of the above are correct.ANS: D58. A tax on the sellers of cell phones willa. reduce the size of the cell phone market.b. place a burden on the sellers of cell phones but not on the buyers of cell phones.c. affect the price paid by buyers of cell phones, but not the size of the market.d. affect the size of the market, but it will have no effect on the effective price received bysellers of cell phones.ANS: A59. Chad is willing to pay $5.00 to get his first cup of morning latté. He buys a cup from a vendor selling latté for $3.75 per cup. Chad's consumer surplus isa. $8.75.b. $5.00.c. $3.75.d. $1.25.ANS: D60. Suppose that in a competitive market the market price is $2.50. What is marginal revenue for the last unit sold by the typical firm in this market?a. Less than $2.50.b. More than $2.50.c. $2.50.d. The marginal revenue cannot be determined without knowing the actual quantity sold by thetypical firm.ANS: CFigure 1The figure below depicts the cost structure of a profit-maximizing firm in a competitive market.61. Refer to Figure 1. Which line segment best reflects the short-run supply curve for this firm?a. ABCEb. CDc. DEd. BCDANS: A62. For a profit-maximizing monopolist,a. P > MR = MC.b. P = MR = MC.c. P > MR > MC.d. MR < MC < P.ANS: A63. The midpoint method is used to compute elasticity because ita. automatically computes a positive number instead of a negative number.b. results in an elasticity that is the same as the slope of the demand curve.c. gives the same answer regardless of the direction of change.d. automatically rounds quantities to the nearest whole unit.ANS: C64. Suppose demand is perfectly elastic and the supply of the good in question decreases. As a result,a. the equilibrium quantity decreases and the equilibrium price is unchanged.b. the equilibrium price increases and the equilibrium quantity is unchanged.c. the equilibrium quantity and the equilibrium price both are unchanged.d. buyers’ total expenditure on the good is unchanged.ANS: A65. Which of the following statements is not correct concerning government attempts to reduce the flow of illegal drugs into the country?a. Drug interdiction raises prices and total revenue in the drug market.b. Drug interdiction can increase drug-related crime.c. Drug interdiction shifts the demand curve for drugs to the left.d. Drug interdiction shifts the supply curve of drugs to the left.ANS: C66. In a competitive market with free entry and exit, if all firms have the same cost structure, thena. all firms will operate at efficient scale in the short run.b. all firms will operate at efficient scale in the long run.c. the price of the product will differ across firms.d. the number of sellers in the market will steadily decrease over time.ANS: B67. The equilibrium quantity in markets characterized by oligopoly isa. higher than in monopoly markets and higher than in perfectly competitive markets.b. higher than in monopoly markets and lower than in perfectly competitive markets.c. lower than in monopoly markets and higher than in perfectly competitive markets.d. lower than in monopoly markets and lower than in perfectly competitive markets.ANS: B68. One way in which monopolistic competition differs from oligopoly is thata. there are no barriers to entry in oligopolies.b. in oligopoly markets there are only a few sellers.c. all firms in an oligopoly eventually earn zero economic profits.d. strategic interactions between firms are rarely evident in oligopolies.ANS: B69. The demand curve for hot dogsa. shifts when the price of hot dogs changes, because the price of hot dogs is measured on thevertical axis of the graph.b. shifts when the price of hot dogs changes, because the quantity demanded of hot dogs ismeasured on the horizontal axis of the graph.c. does not shift when the price of hot dogs changes, because the price of hot dogs is measuredon the vertical axis of the graph.d. does not shift when the price of hot dogs changes, because the quantity demanded of hotdogs is measured on the horizontal axis of the graph.ANS: C70. Holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period because。