国际经济学英文版选择题

Multiple-Choice Questions Ch.2 1. The Mercantilists did not advocate: a. free trade b. stimulating the nation's exports c. restricting the nations' imports d. the accumulation of gold by the nation 2. According to Adam Smith, international trade was based on: a. absolute advantage b. comparative advantage c. both absolute and comparative advantage d. neither absolute nor comparative advantage 3. What proportion of international trade is based on absolute advantage? a. All b. most c. some d. none 4. The commodity in which the nation has the smallest absolute disadvantage is the commodity of its: a. absolute disadvantage b. absolute advantage c. comparative disadvantage d. comparative advantage 5. If in a two-nation (A and B), two-commodity (X and Y) world, it is established that nation A has a comparative advantage in commodity X, then nation B must have: a. an absolute advantage in commodity Y b. an absolute disadvantage in commodity Y c. a comparative disadvantage in commodity Y d. a comparative advantage in commodity Y - 6. 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 X b. nation B has a comparative disadvantage in commodity Y c. nation A has a comparative advantage in commodity X d. nation A has a comparative advantage in neither commodity 7. With reference to the statement in Question 6: a. Px/Py=1 in nation A b. Px/Py=3 in nation B c. Py/Px=1/3 in nation B d. all of the above 8. With reference to the statement in Question 6, if 3X is exchanged for 3Y: a. nation A gains 2X b. nation B gains 6Y c. nation A gains 3Y d. nation B gains 3Y 9. With reference to the statement of Question 6, the range of mutually beneficial trade between nation A and B is: a. 3Y < 3X < 5Y b. 5Y < 3X < 9Y c. 3Y < 3X < 9Y d. 1Y < 3X < 3Y 10. If domestically 3X=3Y in nation A, while 1X=1Y domestically in nation B: a. there will be no trade between the two nations b. the relative price of X is the same in both nations c. the relative price of Y is the same in both nations d. all of the above 11. Ricardo explained the law of comparative advantage on the basis of: a. the labor theory of value b. the opportunity cost theory c. the law of diminishing returns d. all of the above 12. Which of the following statements is true? a. The combined demand for each commodity by the two nations is negatively sloped b. the combined supply for each commodity by the two nations is rising stepwise c. the equilibrium relative commodity price for each commodity with trade is given by the intersection of the demand and supply of each commodity by the two nations d. all of the above 13. A difference in relative commodity prices between two nations can be based upon a difference in: a. factor endowments b. technology c. tastes d. all of the above 14. 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 trade c. the gains from trade are likely to be equally shared d. we cannot say 15. The Ricardian trade model has been empirically a. verified b. rejected c. not tested d. tested but the results were inconclusive Multiple-Choice Questions Ch.3 1. A production frontier that is concave from the origin indicates that the nation incurs increasing opportunity costs in the production of: a. commodity X only b. commodity Y only c. both commodities d. neither commodity 2. 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 X b. the opportunity cost of X c. the absolute slope of the production frontier at the point of production d. all of the above 3. Which of the following is not a reason for increasing opportunity costs: a. technology differs among nations b. factors of production are not homogeneous c. factors of production are not used in the same fixed proportion in the production of all commodities d. for the nation to produce more of a commodity, it must use resources that are less and less suited in the production of the commodity 4. Community indifference curves: a. are negatively sloped b. are convex to the origin c. should not cross d. all of the above 5. 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 on 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 curve c. amount of X that a nation must give up for one extra unit of Y to reach a higher indifference curve d. amount of Y that a nation must give up for one extra unit of X to reach a higher indifference curve 6. 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 curve b. declines as the nation moves down an indifference curve c. 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 curves b. 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 principle d. 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 frontier b. it reaches the highest indifference curve possible with its production frontier c. the indifference curve is tangent to the nation's production frontier d. 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 Y b. nation 2 has a comparative advantage in commodity X c. nation 2 has a comparative advantage in commodity Y d. none of the above 10. 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/Py c. the weaker is nation 2's demand for nation 1's exports d. the closer Px/Py with trade settles to nation 1's pretrade Px/Py 11. If Px/Py exceeds the equilibrium relative Px/Py with trade a. the nation exporting commodity X will want to export more of X than at equilibrium b. the nation importing commodity X will want to import less of X than at equilibrium c. Px/Py will fall toward the equilibrium Px/Py d. all of the above 12. With free trade under increasing costs: a. neither nation will specialize completely in production b. at least one nation will consume above its production frontier c. a small nation will always gain from trade d. all of the above 13. 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 specialization b. gains from exchange result even without specialization c. gains from specialization result even without exchange d. a & b 14. The gains from exchange with respect to the gains from specialization are always: a. greater b. smaller c. equal d. we cannot say without additional information 15. Mutually beneficial trade cannot occur if production frontiers are: a. equal but tastes are not b. different but tastes are the same c. different and tastes are also different d. the same and tastes are also the same. Multiple Choice Questions Ch.4 1. Which of the following statements is correct? a. The demand for imports is given by the excess demand for the commodity b. the supply of exports is given by the excess supply of the commodity c. the supply curve of exports is flatter than the total supply curve of the commodity d. all of the above 2. At a relative commodity price above equilibrium a. the excess demand for a commodity exceeds the excess supply of the commodity b. the quantity demanded of imports exceeds the quantity supplied of exports c. the commodity price will fall d. all of the above 3. The offer curve of a nation shows: a. the supply of a nation's imports b. the demand for a nation's exports c. the trade partner's demand for imports and supply of exports d. the nation's demand for imports and supply of exports 4. The offer curve of a nation bulges toward the axis measuring the nation's a. import commodity b. export commodity c. export or import commodity d. nontraded commodity 5. Export prices must rise for a nation to increase its exports because the nation: a. incurs increasing opportunity costs in export production b. faces decreasing opportunity costs in producing import substitutes c. faces decreasing marginal rate of substitution in consumption d. all of the above 6. Which of the following statements regarding partial equilibrium analysis is false? a. It relies on traditional demand and supply curves b. it isolates for study one market c. it can be used to determine the equilibrium relative commodity price but not the equilibrium quantity with trade d. none of the above 7. Which of the following statements regarding partial equilibrium analysis is true? a. The demand and supply curves are derived from the nation's production frontier and indifference map b. It shows the same basic information as offer curves c. 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 analysis? a. The former but not the latter can be used to determine the equilibrium price with trade b. the former but not the latter can be used to determine the equilibrium quantity with trade c. 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 1.5 in a two-nation world, those of the trade partner are: a. 3/4 b. 2/3 c. 3/2 d. 4/3 10. If the terms of trade increase in a two-nation world, those of the trade partner: a. deteriorate b. improve c. remain unchanged d. any of the above 11. If a nation does not affect world prices by its trading, its offer curve: a. is a straight line b. bulges toward the axis measuring the import commodity c. intersects the straight-line segment of the world's offer curve d. intersects the positively-sloped portion of the world's offer curve 12. If the nation's tastes for its import commodity increases: a. the nation's offer curve rotates toward the axis measuring its import commodity b. 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 commodity 13. 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 deteriorate c. the partner's terms of trade deteriorate d. any of the above 14. If the tastes for a nation import commodity increases, trade volume: a. increases b. declines c. remains unchanged d. any of the above 15. A deterioration of a nation's terms of trade causes the nation's welfare to: a. deteriorate b. improve c. remain unchanged d. any of the above Multiple-Choice Questions ch.5 1. The H-O model extends the classical trade model by: a. explaining the basis for comparative advantage b. examining the effect of trade on factor prices c. both a and b d. neither a nor b 2. Which is not an assumption of the H-O model a. the same technology in both nations b. constant returns to scale c. complete specialization d. equal tastes in both nations 3. With equal technology nations will have equal K/L in production if: a. factor prices are the same b. tastes are the same c. production functions are the same d. all of the above 4. We say that commodity Y is K-intensive with respect to X when: a. more K is used in the production of Y than X b. 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 X d. a higher K/L is used in the production of X than Y 5. When w/r falls, L/K a. falls in the production of both commodities b. rises in the production of both commodities c. can rise or fall d. is not affected 6. A nation is said to have a relative abundance of K if it has a: a. greater absolute amount of K b. smaller absolute amount of L c. higher L/K ratio d. lower r/w 7. A difference in relative commodity prices between nations can be based on a difference in: a. technology b. factor endowments c. 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 endowments c. economies of scale d. tastes 9. According to the H-O-S model, trade reduces international differences in: a. relative but not absolute factor prices b. absolute but not relative factor prices c. both relative and absolute factor prices d. neither relative nor absolute factor prices 10. According to the H-O-S model, international trade will: a. reduce international differences in per capita incomes b. increases international differences in per capita incomes c. may increase or reduce international differences in per capita incomes d. lead to complete specialization 11. The H-O model is a general equilibrium model because it deals with: a. production in both nations b. consumption in both nations c. trade between the two nations d. all of the above 12. The H-O model is a simplification of the a truly general equilibrium model because it deals with: a. two nations b. two commodities c. two factors of production d. all of the above 13. The Leontief paradox refers to the empirical finding that U.S. a. import substitutes are more K-intensive than exports b. imports are more K-intensive than exports c. exports are more L-intensive than imports d. exports are more K-intensive than import substitutes 14. From empirical studies, we conclude that the H-O theory: a. must be rejected b. must be accepted without reservations c. can be accepted while awaiting further testing d. explains all international trade 15. For factor reversal to occur, two commodities must be produced with: a. sufficiently different elasticity of substitution of factors b. the same K/L ratio c. technologically-fixed factor proportions d. equal elasticity of substitution of factors Multiple-Choice Questions Ch. 6: 1. Relaxing the assumptions on which the Heckscher-Ohlin theory rests: a. leads to rejection of the theory b. leaves the theory unaffected c. requires complementary trade theories d. any of the above. 1. Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, leave the theory unaffected? a. Two nations, two commodities, and two factors b. both nations use the same technology c. the same commodity is L-intensive in both nations d. all of the above 2. Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, require new trade theories? a. Economies of scale b. incomplete specialization c. similar tastes in both nations d. the existence of transportation costs 3. International trade can be based on economies of scale even if both nations have identical: a. factor endowments b. tastes c. technology d. all of the above 5. A great deal of international trade: a. is intra-industry trade b. involves differentiated products c. is based on monopolistic competition d. all of the above 6. The Heckscher-Ohlin and new trade theories explains most of the trade: a. among industrial countries b. between developed and developing countries c. in industrial goods d. all of the above 4. The theory that a nation exports those products for which a large domestic market exists was advanced by: a. Linder b. Vernon c. Leontief d. Ohlin 8. Intra-industry trade takes place: a. because products are homogeneous b. in order to take advantage of economies of scale c. because perfect competition is the prevalent form of market organization d. all of the above 1. If a nation exports twice as much of a differentiated product that it imports, its intra- industry (T) index is equal to: a. 1.00 b. 0.75 c. 0.666 d. 0.25 10. Trade based on technological gaps is closely related to: a. the H-O theory b. the product-cycle theory c. Linder's theory d. all of the above 11. Which of the following statements is true with regard to the product-cycle theory? a. It depends on differences in technological changes over time among countries b. it depends on the opening and the closing of technological gaps among countries c. it postulates that industrial countries export more advanced products to less advanced countries d. all of the above 12. Transport costs: a. increase the price in the importing country b. reduces the price in the exporting country c. both of the above d. neither a nor b. 13. Transport costs can be analyzed: a. with demand and supply curves b. production frontiers c. offer curves d. all of the above 14. The share of transport costs will fall less heavily on the nation: a. with the more elastic demand and supply of the traded commodity b. with the less elastic demand and supply of the traded commodity