国际贸易14章.docx
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国际贸易14章.docx
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国际贸易14章
InternationalEconomics,8e(Krugman)
Chapter1
Introduction
1.1
WhatIsInternationalEconomicsAbout?
1)
Historiansofeconomicthoughtoftendescribe________writtenby________andpublishedin________asthefirstrealexpositionofaneconomicmodel.
A)
”OftheBalanceofTrade,”DavidHume,1776
B)
”WealthofNations,”DavidHume,1758
C)
”WealthofNations,”AdamSmith,1758
D)
”WealthofNations,”AdamSmith,1776
E)
”OftheBalanceofTrade,”DavidHume,1758
Answer:
E
2)Ancienttheoriesofinternationaleconomicsfromthe18thand19thCenturiesare
A)
notrelevanttocurrentpolicyanalysis.
B)
areonlyofmoderaterelevanceintoday’smoderninternationaleconomy.
C)
arehighlyrelevantintoday’smoderninternationaleconomy.
D)
aretheonlytheoriesthatactuallyrelevanttomoderninternationaleconomy.
E)
arenotwellunderstoodbymodernmathematicallyorientedtheorists.
Answer:
C
3)
Animportantinsightofinternationaltradetheoryisthatwhencountriesexchangegoodsandservicesonewiththeotherit
A)
isalwaysbeneficialtobothcountries.
B)
isusuallybeneficialtobothcountries.
C)
istypicallybeneficialonlytothelowwagetradepartnercountry.
D)
istypicallyharmfultothetechnologicallylaggingcountry.
E)
tendstocreateunemploymentinbothcountries.
Answer:
B
4)
Iftherearelargedisparitiesinwagelevelsbetweencountries,then
A)
tradeislikelytobeharmfultobothcountries.
B)
tradeislikelytobeharmfultothecountrywiththehighwages.
C)
tradeislikelytobeharmfultothecountrywiththelowwages.
D)
tradeislikelytobeharmfultoneithercountry.
E)
tradeislikelytohavenoeffectoneithercountry.
Answer:
D
5)
Whosellswhattowhom
A)
hasbeenamajorpreoccupationofinternationaleconomics.
B)
isnotavalidconcernofinternationaleconomics.
C)
isnotconsideredimportantforgovernmentforeigntradepolicysincesuchdecisionsaremadeintheprivatecompetitivemarket.
D)
isdeterminedbypoliticalratherthaneconomicfactors.
E)
Noneoftheabove
Answer:
A
6)
Theinsightthatpatternsoftradeareprimarilydeterminedbyinternationaldifferencesinlaborproductivitywasfirstproposedby
A)
AdamSmith.
B)
DavidHume.
C)
DavidRicardo.
D)
EliHeckscher.
E)
LernerandSamuelson.
Answer:
C
7)
Theeuro,acommoncurrencyformostofthenationsofWesternEurope,wasintroduced
A)
before1900.
B)
before1990.
C)
before2000.
D)
inordertosnubtheprideoftheU.S.
E)
Noneoftheabove.
Answer:
C
8)
Forthe50yearspreceding1994,internationaltradepolicieshavebeengoverned
A)
bytheWorldTradeOrganization.
B)
bytheInternationalMonetaryFund.
C)
bytheWorld.
D)
byaninternationaltreatyknownastheGeneralAgreementonTariffsandTrade(GATT).
E)
Noneoftheabove.
Answer:
D
9)
Theinternationalcapitalmarketis
A)
theplacewhereyoucanrentearthmovingequipmentanywhereintheworld.
B)
asetofarrangementsbywhichindividualsandfirmsexchangemoneynowforpromisestopayinthefuture.
C)
thearrangementwherebanksbuilduptheircapitalbyborrowingfromtheCentralBank.
D)
theplacewhereemergingeconomiesacceptcapitalinvestedbybanks.
E)
Noneoftheabove.
Answer:
B
10)
Since1994,traderuleshavebeenenforcedby
A)
theWTO.
B)
theG10.
C)
theGATT.
D)
TheU.S.Congress.
E)
Noneoftheabove.
Answer:
A
11)
Cost-benefitanalysisofinternationaltrade
A)
isbasicallyuseless.
B)
isempiricallyintractable.
C)
focusesattentionprimarilyonconflictsofinterestwithincountries.
D)
focusesattentiononconflictsofinterestsbetweencountries.
E)
Noneoftheabove.
Answer:
C
12)
Animprovementinacountry’sbalanceofpaymentsmeansadecreaseinitsbalanceofpaymentsdeficit,oranincreaseinitssurplus.Infactweknowthatasurplusinabalanceofpayments
A)
isgood.
B)
isusuallygood.
C)
isprobablygood.
D)
maybeconsideredbad.
E)
isalwaysbad.
Answer:
D
13)
TheGATTwas
A)
aninternationaltreaty.
B)
aninternationalU.N.agency.
C)
aninternationalIMFagency.
D)
aU.S.governmentagency.
E)
acollectionoftariffs.
Answer:
A
14)
Internationaleconomicscanbedividedintotwobroadsub-fields
A)
macroandmicro.
B)
developedandlessdeveloped.
C)
monetaryandbarter.
D)
internationaltradeandinternationalmoney.
E)
staticanddynamic.
Answer:
D
Chapter2
WorldTrade:
AnOverview
2.1
WhoTradeswithWhom?
1)
Whatpercentofallworldproductionofgoodsandservicesisexportedtoothercountries?
A)
10%
B)
30%
C)
50%
D)
100%
E)
Noneoftheabove.
Answer:
B
2)
Thegravitymodeloffersalogicalexplanationforthefactthat
A)
tradebetweenAsiaandtheU.S.hasgrownfasterthanNAFTAtrade.
B)
tradeinserviceshasgrownfasterthantradeingoods.
C)
tradeinmanufactureshasgrownfasterthaninagriculturalproducts.
D)
Intra-EuropeanUniontradeexceedsInternationalTradeoftheEuropeanUnion.
E)
Noneoftheabove.
Answer:
D
3)
Accordingtothegravitymodel,acharacteristicthattendstoaffecttheprobabilityoftradeexistingbetweenanytwocountriesis
A)
theirculturalaffinity.
B)
theaverageweight/valueoftheirtradedgoods.
C)
theircolonial-historicalties.
D)
thedistancebetweenthem.
E)
thenumberofvarietiesproducedontheaveragebytheirindustries.
Answer:
D
4)
Whydoesthegravitymodelwork?
A)
Largeeconomiesbecamelargebecausetheywereengagedininternationaltrade.
B)
Largeeconomieshaverelativelylargeincomes,andhencespendmoreongovernmentpromotionoftradeandinvestment.
C)
Largeeconomieshaverelativelylargerareaswhichraisestheprobabilitythataproductiveactivitywilltakeplacewithinthebordersofthatcountry.
D)
Largeeconomiestendtohavelargeincomesandtendtospendmoreonimports.
E)
Noneoftheabove.
Answer:
D
5)
ThetwoneighborsoftheUnitedStatesdoalotmoretradewiththeUnitedStatesthanEuropeaneconomiesofequalsize.
A)
Thiscontradictspredictionsfromgravitymodels.
B)
Thisisconsistentwithpredictionsfromgravitymodels.
C)
Thisisrelevanttoanyinferencesthatmaybedrawnfromgravitymodels.
D)
ThisisbecausetheseneighboringcountrieshaveexceptionallylargeGDPs.
E)
Noneoftheabove.
Answer:
B
6)
SinceWorldWarII(theearly1950s),theproportionofmostcountries'productionbeingusedinsomeothercountry
A)
remainedconstant.
B)
increased.
C)
decreased.
D)
fluctuatedwidelywithnocleartrend.
E)
bothAandDabove.
Answer:
B
7)
SinceWorldWarII,therelativeimportanceofrawmaterials,includingoil,intotalworldtrade
A)
remainedconstant.
B)
increased.
C)
decreased.
D)
fluctuatedwidelywithnocleartrend
E)
bothAandDabove.
Answer:
C
8)
InthecurrentPost-Industrialeconomy,internationaltradeinservices(includingbankingandfinancialservices)
A)
dominatesworldtrade.
B)
doesnotexist.
C)
isrelativelysmall.
D)
isrelativelystagnant.
E)
Noneoftheabove.
Answer:
C
9)
Inthepre-WorldWarIperiod,theU.S.exportedprimarily
A)
manufacturedgoods.
B)
services.
C)
primaryproductsincludingagricultural.
D)
technologyintensiveproducts.
E)
Noneoftheabove.
Answer:
C
10)
Inthepre-WorldWarIperiod,theUnitedKingdomexportedprimarily
A)
manufacturedgoods.
B)
services.
C)
primaryproductsincludingagricultural.
D)
technologyintensiveproducts.
E)
Noneoftheabove.
Answer:
A
11)
Inthepresent,mostoftheexportsfromChinaarein
A)
manufacturedgoods.
B)
services.
C)
primaryproductsincludingagricultural.
D)
technologyintensiveproducts.
E)
Noneoftheabove.
Answer:
A
Answerthetextbookquestio
1.WesawthatnotonlyisGDPimportantinexplaininghowmuchtwocountriestrade,butalso,distanceiscrucial.Givenitsremoteness,Australiafacesrelativelyhighcostsoftransportingimportsandexports,therebyreducingtheattractivenessoftrade.SinceCanadahasaborderwithalargeeconomy(theU.S.)andAustraliaisnotnearanyothermajoreconomy,itmakessensethatCanadawouldbemoreopenandAustraliamoreself-reliant.
2.MexicoisquiteclosetotheU.S.,butitisfarfromtheEuropeanUnion(EU).Soitmakessensethat
ittradeslargelywiththeU.S.Brazilisfarfromboth,soitstradeissplitbetweenthetwo.MexicotradesmorethanBrazilinpartbecauseitissoclosetoamajoreconomy(theU.S.)andinpartbecauseitisamemberofafreetradeagreementwithalargeeconomy(NAFTA).Brazilisfartherawayfromanylargeeconomyandisinafreetradeagreementwithrelativelysmallcountries.
Chapter3
LaborProductivityandComparativeAdvantage:
TheRicardianModel
1)
Tradebetweentwocountriescanbenefitbothcountriesif
A)
eachcountryexportsthatgoodinwhichithasacomparativeadvantage.
B)
eachcountryenjoyssuperiortermsoftrade.
C)
eachcountryhasamoreelasticdemandfortheimportedgoods.
D)
eachcountryhasamoreelasticsupplyfortheexportedgoods.
E)
BothCandD.
Answer:
A
2)
Inordertoknowwhetheracountryhasacomparativeadvantageintheproductionofoneparticularproductweneedinformationonatleast________unitlaborrequirements
A)
one
B)
two
C)
three
D)
four
E)
five
Answer:
D
3)
Acountryengagingintradeaccordingtoth
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