《国际经济学》选择题汇总版(附答案) Ch1-Ch3
1. The United States is less dependent on trade than most other countries because
A) the Un ited States is a relatively large country with diverse resources.
B) the United States is a “ Superpower. ”
C) the military power of the Un ited States makes it less depe ndent on anything.
D) the Un ited States in vests in many other coun tries. E) many coun tries in vest in the Un ited States.
2. Because the Con stituti on forbids restra ints on in terstate trade,
A) the U.S. may not impose tariffs on imports from NAFTA countries.
B) the U.S. may not affect the international value of the $ U.S. C) the U.S. may not put restraints on foreign investments in California if it involves a financial in termediary in New York State.
D) the U.S. may not impose export duties.
E) the U.S. may not disrupt commerce between Florida and Hawaii.
3. International economics can be divided into two broad sub-fields
A) macro and micro.
B) developed and less developed. C) mon etary and barter.
D) intern ati onal trade and intern ati onal mon ey. E) static and dyn amic.
4. I nternatio nal mon etary an alysis focuses on A) the real side of the international economy.
B) the intern ati onal trade side of the intern ati onal economy. C) the international investment side of the international economy.
D) the issues of intern ati onal cooperati on betwee n Cen tral Ban ks.
E) the mon etary side of the intern ati onal economy, such as curre ncy excha nge.
5. The gravity model offers a logical explanation for the fact that
A) trade betwee n Asia and the U.S. has grow n faster tha n NAFTA trade.
B) trade in services has grow n faster tha n trade in goods. C) trade in manu factures has grow n faster tha n in agricultural products.
D) In tra-Europea n Union trade exceeds intern ati onal trade by the Europea n Union.
E) the U.S. trades more with Wester n Europe tha n it does with Can ada.
6. The gravity model expla ins why
A) trade betwee n Swede n and Germa ny exceeds that betwee n Swede n and Spain.
B) co un tries with oil reserves tend to export oil.
C) capital rich coun tries export capital inten sive products. D) in tra-i ndustry trade is relatively more importa nt tha n other forms of trade betwee n n eighbori ng coun tries.
E) Europea n coun tries rely most ofte n on n atural resources. 7. Why does the gravity model work?
A) Large econo mies became large because they were en
gaged in intern ati onal trade.
B) Large econo mies have relatively large in comes, and hence spe nd more on gover nment promoti on of trade and in vestme nt.
C) Large econo mies have relatively larger areas which raises the probability that a productive activity will take place withi n the borders of that coun try.
D) Large econo mies tend to have large in comes and tend to spe nd more on imports.
E) Large economies tend to avoid trading with small economies.
8. We see that the Netherlands, Belgium, and Ireland trade considerably more with the United States tha n with many other coun tries.
A) This is explained by the gravity model, since these are all large countries.
B) This is explained by the gravity model, since these are all small countries.
C) This fails to be con siste nt with the gravity model, since these are small coun tries.
D) This fails to be consistent with the gravity model, since these are large countries.
E) This is expla ined by the gravity model, si nee they do not share borders.
9. In the prese nt, most of the exports from China are A) manu factured goods. B) services.
C) primary products including agricultural. D) tech no logy inten sive products. E) overpriced by world market sta ndards.
10. A country engaging in trade according to the principles of comparative advantage gains from trade because it
A) is produci ng exports in directly more efficie ntly tha n it could alter natively.
B) is produci ng imports in directly more efficie ntly tha n it could domestically.
C) is produci ng exports using fewer labor un its.
D) is produci ng imports in directly using fewer labor un its. E) is produci ng exports while outsourci ng services. 11. The Ricardian model attributes the gains from trade associated with the principle of comparative adva ntage result to
A) differe nces in tech no logy. B) differe nces in prefere nces. C) differe nces in labor productivity. D) differe nces in resources.
E) gravity relati on ships among coun tries.
12. A nation engaging in trade according to the Ricardian model will find its consumption
bun dle
A) in side its product ion possibilities fron tier. B) on its product ion possibilities fron tier. C) outside its product ion possibilities fron tier.
D) in side its trade-part ner's product ion possibilities fron tier.
E) on its trade-part ner's producti on possibilities fron tier. 13. Assume that labor is the only factor of product ion and that wages in the Un ited States equal $20 per hour while wages in Japa n are $10 per hour. Producti on costs would be lower in the United States as compared to Japan if
A) U.S. labor productivity equaled 40 un its per hour and Japa
n's 15 un its per hour.
B) U.S. labor productivity equaled 30 un its per hour and Japa n's 20 un its p er hour.
C) U.S. labor productivity equaled 20 units per hour and Japan's 30 units per hour.
D) U.S. labor productivity equaled 15 units per hour and Japan's 25 units per hour.
E) U.S. labor productivity equaled 15 un its per hour and Japa n's 40 un its p er hour.
14. In a two-co untry, two-product world, the stateme nt “ Germa ny enjoys a comparative adva ntage over France in autos relative to ships ” is equivale nt to
A) France havi ng a comparative adva ntage over Germa ny in ships.
B) France havi ng a comparative disadva ntage compared to Germa ny in autos and ships.
C) Germa ny havi ng a comparative adva ntage over France in autos and ships.
D) France havi ng no comparative adva ntage over Germa ny. E) France should produce autos.
15. If the United States' production possibility frontier was flatter to the widget axis, whereas
Germa ny's was flatter to the butter axis, we know that A) the Un ited States has no comparative adva ntage B) Germa ny has a comparative adva ntage in butter. C) the U.S. has a comparative advantage in butter.
D) Germa ny has comparative adva ntages in both products. E) the U.S. has a comparative disadvantage in widgets. Ch4-Ch5
1. The Ricardia n model of intern ati onal trade dem on
strates that trade can be mutually ben eficial. Why, the n, do gover nments restrict imports of some goods?
A) Trade can have substa ntial effects on a coun try's distributi on of in come.
B) The Ricardia n model is ofte n in correct in its predictio n that trade can be mutually ben eficial.
C) Import restrict ions are the result of trade wars betwee n hostile coun tries.
D) Imports are on ly restricted whe n foreig n-made goods do n ot meet domestic sta ndards of quality.
E) Restrict ions on imports are inten ded to ben efit domestic con sumers.
2. Japa n's trade policies with regard to rice reflect the fact that
A) japa nese rice farmers have sig ni fica nt political power. B) Japa n has a comparative adva ntage in rice product ion and therefore exports most of its rice
crop.
C) there would be no gains from trade available to Japan if it engaged in free trade in rice.
D) there are gains from trade that Japa n captures by en gagi ng in free trade in rice.
E) Japa n imports most of the rice con sumed in the coun try. 3. In the specific factors model, which of the follow ing is treated as a specific factor?
A) Labor B) Land C) Cloth D) Food E) Tech no logy
4. The specific factors model assumes that there are _______ goods and ________ factor(s)
of product ion. A) two; three B) two; two C) two; one D) three; two E) four; three
5. The slope of a coun try's product ion possibility fron tier with cloth measured on the
horizontal and food measured on the vertical axis in the specific factors model is equal to and it as more cloth is produced.
A) -MPLF/MPLC; becomes steeper B) -MPLF/MPLC; becomes flatter C) -MPLF/MPLC; is con sta nt D) -MPLC/MPLF; becomes steeper E) -MPLC/MPLF; is con sta nt
6. Under perfect competition, the equilibrium price of labor used to produce cloth will be
equal to
A) the slope of the product ion possibility fron tier.
B) the average product of labor in the production of cloth times the price of cloth.
C) the ratio of the marginal product of labor in the producti on of cloth to the marginal product of labor in the product ion of food times the ratio of the price of cloth. to the price of food.
D) the marginal product of labor in the product ion of cloth times the price of cloth.
E) the price of cloth divided by the marginal product of labor in the product ion of cloth.
7. I n the specific factors model, which of the followi ng will in crease the qua ntity of labor used
in cloth product ion?
A) an in crease in the price of cloth relative to that of food B) an in crease in the price of food relative to that of cloth C) a decrease in the price of labor
D) an equal perce ntage decrease in the price of food and cloth
E) an equal perce ntage in crease in the price of food and cloth
8. A country that does not en gage in trade can ben efit from trade only if
A) it has an absolute adva ntage in at least one good. B) it employs a unique tech no logy.
C) pre-trade and free-trade relative prices are not ide ntical. D) its wage rate is below the world average.
E) pre-trade and free-trade relative prices are ide ntical. 9. In the specific factors model, the effects of trade on welfare are _______ for mobile
factors, _______ for fixed factors used to produce the exported good, and ________ f or
fixed factors used to produce the imported good. A) ambiguous; positive; n egative B) ambiguous; n egative; positive C) positive; ambiguous; ambiguous D) n egative; ambiguous; ambiguous E) positive; positive; positive
10. The effect of trade on specialized employees of import-competi ng in dustries will be
_______ jobs and ________ pay because they are relatively
________ .
A) fewer; lower; mobile B) fewer; lower; immobile C) more; lower; immobile D) more; higher; mobile E) more; higher; immobile
11. There is a bias in the political process aga inst free trade because
A) there is a high correlati on betwee n the volume of imports and the un employme nt rate.
B) the gains from free trade cannot be measured.
C) those who gain from free trade can't compe nsate those who lose.
D) foreign governments make large donations to U.S. political campaigns.
E) those who lose from free trade are better orga ni zed tha n those who gain
12.In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in
A) tastes and prefere nces. B) military capabilities. C) the size of their econo mies.
D) relative abundance of factors of product ion. E) labor productivities.
13. If a country produces good Y (measured on the vertical axis) and good X (measured on the horiz on tal axis), the n the absolute value of the slope of its product ion possibility fron tier is equal to
A) the opport unity cost of good X.
B) the price of good X divided by the price of good Y
C) the price of good X divided by the price of good Y . D) the opport unity cost of good Y .
E) the cost of capital (assu ming that good Y is capital inten sive) divided by the cost of labor.
14. I n the 2-factor, 2 good Heckscher-Ohlin model, trade will _______ the owners of a
coun try's _______factor and will ________ the good that uses that factor inten sively.
A) be nefit; abundant; export B) harm; abundant; import C) ben efit; scarce; export D) ben efit; scarce; import E) harm; scarce; export
15. The assumpti on of diminishing retur ns in the Heckscher-Ohli n model means that, un like in the Ricardian model, it is likely that
A) coun tries will con sume outside their product ion possibility fron tier.
B) coun tries will ben efit from free intern ati onal trade. C) coun tries will not be fully specialized in one product. D) comparative adva ntage will not determ ine the direct ion of trade.
E) global producti on will decrease un der trade.
16.If Japan is relatively capital rich and the United States is relatively land rich, and if food is relatively land inten sive the n trade betwee n these two, formerly autarkic coun tries will result in
A) a n in crease in the relative price of food in the U.S. B) an in crease in the relative price of food in Japa n. C) a global in crease in the relative price of food.
D) a decrease in the relative price of food in both coun tries. E) an in crease in the relative price of food in both coun tries. 17. Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively labor abundant, the n once trade begi ns
A) rent will be un cha nged but wages will rise in H. B) wages and rents should rise in H. C) wages and rents should fall in H.
D) wages should fall and rents should rise in H. E) wages should rise and rents should fall in H. 18. The Leo ntieff Paradox
A) failed to support the validity of the Heckscher-Ohlin model.
B) supported the validity of the Ricardia n theory of comparative adva ntage.
C) supported the validity of the Heckscher-Ohlin model. D) failed to support the validity of the Ricardia n theory. E) proved that the U.S. economy is differe nt from all others. 19. Which of the following is an assertion of the Heckscher-Ohlin model?
A) Factor price equalization will occur only if there is costless mobility of all factors across borders.
B) An in crease in a coun try's labor supply will in crease product ion of both the capital-inten sive and the labor- inten sive good.
C) In the long-run, labor is mobile and capital is not. D) The wage-rental ratio determines the capital-labor ratio in a country's industries.
E) Factor en dowme nts determ ine the tech no logy that is available to a coun try, which determ ines the good in which the
country will have a comparative adva ntage.
20. Which of the following is an assertion of the Heckscher-Ohlin model?
A) An in crease in a coun try's labor supply will in crease product ion of the labor- inten sive good and decrease product ion of the capital-inten sive good.
B) An in crease in a coun try's labor supply will in crease product ion of both the capital-inten sive and the labor- inten sive good.
C) In the long-run, labor is mobile and capital is not. D) Factor price equalization will occur only if there is costless mobility of all factors across borders.
E) Factor en dowme nts determ ine the tech no logy that is available to a coun try, which determ ines the good in which the country will have a comparative adva ntage.
Ch6-Ch10
1.If the ratio of price of cloth (PC) divided by the price of food (PF) in creases in the international marketplace, then
A) the terms of trade of cloth exporters will improve. B) all coun tries would be better off.
C) the terms of trade of food exporters will improve. D) the terms of trade of all coun tries will improve. E) the terms of trade of cloth exporters will worse n. 2.If the ratio of price of cloth (PC) divided by the price of food (PF) in creases in the international marketplace, then
A) world relative qua ntity of cloth supplied will in crease. B) world relative qua ntity of cloth supplied and dema nded will in crease.
C) world relative quantity of cloth supplied and demanded will decrease.
D) world relative quantity of cloth demanded will decrease. E) world relative qua ntity of food will in crease.
3.lf the U.S. (a large coun try) imposes a tariff on its imported good, this will tend to
A) have no effect on terms of trade.
B) improve the terms of trade of the Un ited States. C) improve the terms of trade of all coun tries. D) because a deterioration of U.S. terms of trade.
E) raise the world price of the good imported by the Un ited States.
4.lf Slovenia were a large country in world trade, the n if it i nstituted a large set of subsidies for its exports, this must
A) decrease its marginal prope nsity to con sume. B) have no effect on its terms of trade.
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