曼昆《经济学原理》（微观）第五版测试题库 (09)

Chapter 9 Chapter 9 Application: International Trade TRUE/FALSE 1. Trade decisions are based on the principle of absolute advantage. ANS: F DIF: 1 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Absolute advantage MSC: Interpretive 2. The sum of consumer and producer surplus measures the total benefits that buyers and sellers receive from participating in a market. ANS: T DIF: 2 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Total surplus MSC: Interpretive 3. According to the principle of comparative advantage, all countries can benefit from trading with one another because trade allows each country to specialize in doing what it does best. ANS: T DIF: 1 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Comparative advantage MSC: Interpretive 4. The world price of cotton is the highest price of cotton observed anywhere in the world. ANS: F DIF: 1 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: Prices MSC: Definitional 5. If the world price of a good is greater than the domestic price in a country that can engage in international trade, then that country becomes an importer of that good. ANS: F DIF: 2 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade | Prices MSC: Interpretive 6. Without free trade, the domestic price of a good must be equal to the world price of a good. ANS: F DIF: 2 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Prices MSC: Interpretive 7. The nation of Aviana soon will abandon its no-trade policy and adopt a free-trade policy. If the world price of goose meat is $3 per pound and the domestic price of goose meat without trade is $2 per pound, then Aviana should export goose meat. ANS: T DIF: 2 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Prices | Comparative advantage | Exports MSC: Interpretive 8. If Argentina exports oranges to the rest of the world, Argentina's producers of oranges are worse off, and Argentina's consumers of oranges are better off, as a result of trade. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade | Economic welfare MSC: Applicative 9. If a country’s domestic price of a good is lower than the world price, then that country has a comparative advantage in producing that good. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Comparative advantage | Prices MSC: Interpretive 10. When a country allows international trade and becomes an importer of a good, domestic producers of the good are better off, and domestic consumers of the good are worse off. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: Gains from trade MSC: Interpretive 11. If the United Kingdom imports tea cups from other countries, then U.K. producers of tea cups are better off, and U.K. consumers of tea cups are worse off, as a result of trade. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade | Economic welfare MSC: Applicative 12. If Belgium exports chocolate to the rest of the world, then Belgian chocolate producers benefit from higher producer surplus, Belgian chocolate consumers are worse off because of lower consumer surplus, and total surplus in Belgium increases because of the exports of chocolate. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade | Economic welfare MSC: Applicative 13. In principle, trade can make a nation better off, because the gains to the winners exceed the losses to the losers. ANS: T DIF: 1 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade | Economic welfare MSC: Interpretive 14. Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coast imposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory Coast will increase, but by less than $1. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Prices MSC: Interpretive 15. The small-economy assumption is necessary to analyze the gains and losses from international trade. ANS: F DIF: 1 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade | Assumptions MSC: Interpretive 16. The greater the elasticities of supply and demand, the smaller are the gains from trade. ANS: F DIF: 3 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Gains from trade | Price elasticities of demand and supply MSC: Applicative 17. If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of the tariff. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Prices MSC: Interpretive 18. When a government imposes a tariff on a product, the domestic price will equal the world price. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Prices MSC: Interpretive 19. A tariff increases the quantity of imports and moves the market farther from its equilibrium without trade. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Imports MSC: Applicative 20. When a country abandons no-trade policies in favor of free-trade policies and becomes an importer of steel, then the domestic price of steel will increase as a result. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: Imports | Prices MSC: Interpretive 21. When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off. ANS: T DIF: 1 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: Tariffs MSC: Interpretive 22. When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off and sellers of shoes in that country become better off. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: Tariffs MSC: Interpretive 23. Deadweight loss measures the decrease in total surplus that results from a tariff or quota. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Deadweight losses MSC: Interpretive 24. If a small country imposes a tariff on an imported good, domestic sellers will gain producer surplus, the government will gain tariff revenue, and domestic consumers will gain consumer surplus. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Economic welfare MSC: Applicative 25. Domestic consumers gain and domestic producers lose when the government imposes a tariff on imports. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs MSC: Interpretive 26. The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity of wine imported, and increase the quantity of wine produced domestically. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Prices | Imports | Tariffs MSC: Interpretive 27. Suppose that Australia imposes a tariff on imported beef. If the increase in producer surplus is $100 million, the increase in tariff revenue is $200 million, and the reduction in consumer surplus is $500 million, the deadweight loss of the tariff is $300 million. ANS: F DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Deadweight losses MSC: Applicative 28. Suppose Ecuador imposes a tariff on imported bananas. If the increase in producer surplus is $50 million, the reduction in consumer surplus is $150 million, and the deadweight loss of the tariff is $30 million, then the tariff generates $130 million in revenue for the government. ANS: T DIF: 3 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Deadweight losses MSC: Applicative 29. Tariffs cause deadweight loss because they move the price of an imported product closer to the equilibrium without trade, thus reducing the gains from trade. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Deadweight losses MSC: Interpretive 30. Import quotas and tariffs both cause the quantity of imports to fall. ANS: T DIF: 1 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Import quotas MSC: Interpretive 31. Import quotas and tariffs make domestic sellers better off and domestic buyers worse off. ANS: T DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Import quotas | Economic welfare MSC: Interpretive 32. Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost because of foreign competition. ANS: F DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy | Employment MSC: Interpretive 33. Free trade causes job losses in industries in which a country does not have a comparative advantage, but it also causes job gains in industries in which the country has a comparative advantage. ANS: T DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Comparative advantage | Employment MSC: Interpretive 34. Most economists support the infant-industry argument because it is so easy to implement in practice. ANS: F DIF: 1 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 35. If Honduras were to subsidize the production of wool blankets and sell them in Sweden at artificially low prices, the Swedish economy would be worse off. ANS: F DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy | Economic welfare MSC: Interpretive 36. Policymakers often consider trade restrictions in order to protect domestic producers from foreign competitors. ANS: T DIF: 1 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 37. GATT is an example of a successful unilateral approach to achieving free trade. ANS: F DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: GATT MSC: Interpretive 38. NAFTA is an example of a multilateral approach to achieving free trade. ANS: T DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: NAFTA MSC: Interpretive 39. The rules established under the General Agreement on Tariffs and Trade (GATT) are enforced by an international body called the World Trade Organization (WTO). ANS: T DIF: 1 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization, and trade TOP: GATT | WTO MSC: Definitional 40. A multilateral approach to free trade has greater potential to increase the gains from trade than a unilateral approach, because the multilateral approach can reduce trade restrictions abroad as well as at home. ANS: T DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 41. The results of a 2007 Los Angeles Times poll suggest that a significant majority of Americans believe that free international trade helps the American economy. ANS: F DIF: 2 REF: 9-4 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 42. The results of a 2007 Los Angeles Times poll suggest that the percentage of Americans who believe trade is harmful to the economy exceeds the percentage of Americans who believe trade is beneficial to the economy. ANS: T DIF: 2 REF: 9-4 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 43. Most economists view the United States as an ongoing experiment that raises serious doubts about the virtues of free trade. ANS: F DIF: 1 REF: 9-4 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive SHORT ANSWER 1. Use the graph to answer the following questions about CDs. a. What is the equilibrium price of CDs before trade? b. What is the equilibrium quantity of CDs before trade? c. What is the price of CDs after trade is allowed? d. What is the quantity of CDs exported 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. $12 b. 50 c. $15 d. 30 e. $250 f. $122.50 g. $250 h. $422.50 i. $500 j. $545 k. $45 DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Exports | Economic welfare MSC: Applicative 2. 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. $14 b. 90 c. $10 d. 85 e. $360 f. $810 g. $405 h. $125 i. $765 j. $935 k. $170 DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Imports | Economic welfare MSC: Applicative 3. Using the graph, assume that the government imposes a $1 tariff on hammers. Answer the following questions given this information. a. What is the domestic price and quantity demanded of hammers after the tariff is imposed? b. What is the quantity of hammers imported before the tariff? c. What is the quantity of hammers imported after the tariff? d. What would be the amount of consumer surplus before the tariff? e. What would be the amount of consumer surplus after the tariff? f. What would be the amount of producer surplus before the tariff? g. What would be the amount of producer surplus after the tariff? h. What would be the amount of government revenue because of the tariff? i. What would be the total amount of deadweight loss due to the tariff? ANS: a. $6, 84 b. 66 c. 44 d. $384 e. $294 f. $45 g. $80 h. $44 i. $11 DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Economic welfare MSC: Applicative 4. How does an import quota differ from an equivalent tariff? ANS: Both the import quota and the tariff raise the domestic price of the good, reduce the welfare of domestic consumers, increase the welfare of domestic producers, and cause deadweight losses. The only difference for the economy is that the tariff raises revenue for the government, while the import quota creates surplus for license holders. DIF: 2 REF: 9-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Tariffs | Import quotas MSC: Interpretive 5. Characterize the two different approaches a nation can take to achieve free trade. Does one approach have an advantage over the other? ANS: A unilateral approach is when a country removes its trade restrictions on its own. A multilateral approach is when a country removes its trade restrictions while other countries do the same. A multilateral approach has two advantages. The first is that it has the potential to result in freer trade because it can reduce trade restrictions abroad as well as at home. If international negotiations fail, however, the result could be more restricted trade than under a unilateral approach. Also, the multilateral approach may have a political advantage and can sometimes win political support when a unilateral reduction cannot. DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive 6. What are the arguments in favor of trade restrictions, and what are the counterarguments? According to most economists, do any of these arguments really justify trade restrictions? Explain. ANS: Arguments mentioned in the text include the jobs argument, the national security argument, the infant industry argument, the unfair competition argument, and the protection-as-a-bargaining-chip argument. These arguments and counter-arguments are outlined in section 9-3 of the text. Most economists would dismiss the jobs argument, the infant industry argument, and the unfair competition argument on strictly economic grounds. The bargaining-chip argument carries high risks of economic harm if the threat doesn't work. The national-security argument balances economic loss from trade restriction against the benefit of long-term national survival, and is probably the argument that economists would most likely buy if it were clear that the industry being protected was clearly crucial to national security. DIF: 2 REF: 9-3 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Trade policy MSC: Interpretive Sec00 - Application: International Trade MULTIPLE CHOICE 1. An important factor in the decline of the U.S. textile industry over the past 100 or so years is a. foreign competitors that can produce quality textile goods at low cost. b. lower prices of goods that are substitutes for clothing. c. a decrease in Americans’ demand for clothing, due to increased incomes and the fact that clothing is an inferior good. d. the fact that the minimum wage in the U.S. has failed to keep pace with the cost of living. ANS: A DIF: 1 REF: 9-0 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade MSC: Interpretive 2. With which of the Ten Principles of Economics is the study of international trade most closely connected? a. People face tradeoffs. b. Trade can make everyone better off. c. Governments can sometimes improve market outcomes. d. Prices rise when the government prints too much money. ANS: B DIF: 1 REF: 9-0 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade MSC: Interpretive 3. Which of the following tools and concepts is useful in the analysis of international trade? a. total surplus b. domestic supply c. equilibrium price d. All of the above are correct. ANS: D DIF: 1 REF: 9-0 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade MSC: Interpretive 4. A logical starting point from which the study of international trade begins is a. the recognition that not all markets are competitive. b. the recognition that government intervention in markets sometimes enhances the economic welfare of the society. c. the principle of absolute advantage. d. the principle of comparative advantage. ANS: D DIF: 1 REF: 9-0 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade | Comparative advantage MSC: Interpretive Sec01 - Application: International Trade - The Determinants of Trade MULTIPLE CHOICE 1. What is the fundamental basis for trade among nations? a. shortages or surpluses in nations that do not trade b. misguided economic policies c. absolute advantage d. comparative advantage ANS: D DIF: 1 REF: 9-1 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: International trade | Comparative advantage MSC: Interpretive 2. Patterns of trade among nations are primarily determined by a. cultural considerations. b. political considerations. c. comparative advantage. d. differences in the income elasticity of demand among nations.