国贸选择题与答案

国贸选择题与答案 第二章(1~5 CEBDB 6~10 ADCAC)1Mercantilism refers to a collection of economic philosophies prevalent in the nineteenth century.A) an economic philosophy favoring minimalist government.B) an economic philosophy that encouraged colonialism.C) all of the above.D) 2Mercantilists believed that trade is a positive-sum game.A) in the labor theory of value.B) countries should maintain a trade surplus.C) all of the aboveD) b and c.E) 3To a mercantilist, the government should stay out of the management of the economy.A) engage in bullionism.B) encourage importation, as this is a sign of national wealth.C) avoid having colonies, as this is a draw on national resources.D) 4The British Navigation Acts of the eighteenth century were examples of mercantilist policies.A) excluded, for example, Spanish ships, from trading with the coastal B) American colonies. were intended to maximize the flow of specie into Britain.C) all of the above.D) 5The observation that over time a trade surplus leads to a net gain in a country's holdings of precious metals is the inconsistent with mercantilism.A) is consistent with Hume's price-specie-flow mechanism.B) is inconsistent with Hume's price-specie-flow mechanism.C) none of the above.D) 6The notion of absolute advantage was an important early critique of mercantilism.A) was original to mercantilist thinking.B) is central to the price-specie flow mechanism.C) was originally conceptualized by David Hume.D) 7A "laissez faire" philosophy implies a substantial amount of government intervention in the economy.A) Governm ent holdings of gold and silver are the ultimate measures of the B) size of the economy. that self-interest is the path to economic ruin.C) governments should maintain law and order and protect property rights, but D) not much else. 8The labor theory of value is the notion that trade can be a positive-sum gameA) the idea that laborers in a mercantilist society should be paid as little as B) possible the idea that goods and services can be valued according to their relative C) labor content the essence of the quantity theory of money.D) 9Consider the following table showing labor requirements per unit of production: CountryElectronicsPlums Georgia4 hrs/unit15 hrs/unitAzerbaijan5 hrs/ unit10 hrs/unitAccording to Adam Smith's way of thinking, electronics should be exported by_________; plums should be exported by __________. Georgia; AzerbaijanA) Georgia; GeorgiaB) Azerbaijan; GeorgiaC) Azerbaijan; AzerbaijanD) 10Consider the following table showing labor requirements per unit of production: CountrySteelRice Mongolia16 hrs/unit8 hrs/unitKorea15 hrs/ unit4 hrs/unitAccording to Adam Smith, Mongolia has the absolute advantage in steel production.A) Korea has the absolute advantage in neither steel nor rice production.B) trade would not be mutually advantageous.C) rice will not be produced, since productivity levels in steel production are D) substantially higher. 第三章(1~5 CABBA 6~10 ADCBA) 1The autarky price ratio is the price ratio when there is mutually advantageous international tradeA) must be the same in both countries for trade to be mutually advantageousB) is the price ratio when there is no international tradeC) is the ratio of the price of government-produced products in one country to D) government-produced products in the other country. 2A production possibilities frontier represents combinations of production points that a country is capable of A) producing, given today's resources and technology, and assuming all resources are fully employed. represents combinations of products that a country is capable of consuming B) if it participates in international trade, given today's resources and technology, and assuming all resources are fully employed. is the single production point at which a country will be in autarky.C) all of the aboveD) a and c onlyE) 3By following the principle of comparative advantage, nations can avoid the fundamental economic problem of scarcityA) reach consumption points outside their production possibilities frontiersB) avoid being forced into international tradeC) none of the aboveD) 4David Ricardo was a poor but brilliant Italian philosopher.A) originated the concept of comparative advantage in the early 19th centuryB) originated the concept of comparative advantage in the early 17th centuryC) was a band director on the television show I Love Lucy.D) a and c are correct.E) The following table shows the hours of labor required to produce one unit of each commodity in each country. Use it to answer the next three questions. 5__________ has an absolute advantage in the production of radiators; __________ has an absolute advantage in the production of mood rings. Trinidad and Tobago; MadagascarA) Madagascar; Trinidad and TobagoB) Trinidad and Tobago; Trinidad and TobagoC) Madagascar; MadagascarD) 6In this situation Trinidad and Tobago will export radiators once trade beginsA) Trinidad and Tobago will export mood rings once trade beginsB) Trinidad and Tobago has a comparative advantage in neither commodityC) Trade will not occur since pre-trade (autarky) price ratios are identicalD) 7According to the information in the table, Trinidad and Tobago's pre-trade (autarky) radiators price is 1 radiators = 0.83 mood ringsA) Madagascar will export radiators once trade beginsB) Trinidad and Tobago will not wish to trade because it is absolutely more efficient at the C)production of both goods Madagascar's pre-trade (autarky) mood rings price is 1 mood rings = 0.5 D)radiators The following table shows the hours of labor required to produce one unit of each commodity in each country. Use it to answer the next three questions.8To Adam Smith, in this example Canada should export sugar and import flash drivesA) Canada should export flash drives and import sugarB) Canada would not find trade advantageousC) none of the aboveD) 9If trade occurs according to Ricardo's principle of comparative advantage, Canada should export sugar and import flash drivesA) Canada should export flash drives and import sugarB) Canada would not find trade advantageousC) both countries should export sugar and import flash drivesD) 10China's pre-trade (autarky) sugar price is 1 sugar = 0.4 flash drivesA) 1 sugar = 1.33 flash drivesB) 1 sugar = 2.5 flash drivesC) 1 sugar = 24 flash drivesD) 第八章(1~5 ACCDD 6~10 DABCC) 1Which of the following is not an assumption of the usual Heckscher-Ohlin-Samuelson model? Factors are perfectly mobile between countries and not mobile within countries.A) Technology is the same in each of the two countries.B) There are no transportation costs.C) There is perfect competition in the goods market and in factor markets.D) 2Suppose we observe in autarky that (w/r) for Country 1 is less than (w/r) for Country 2. This implies that __________is the relatively labor scarce country, and when trade commences the Heckscher-Ohlin theorem predicts that country 1 should export the __________ good. Country 1; labor intensive.A) Country 1; capital intensive.B) Country 2; labor intensive.C) Country 2; capital intensive.D) 3 In the above figure, isoquant Srepresents output of 1000 compact disks. If capital became 0 relatively cheaper, the new factor price line would become steeper and the firm would begin to use a more A)labor-intensive production technique than before. the new factor price line would become flatter and the firm would begin to use a more B)labor-intensive production technique than before. the new factor price line would become steeper and the firm would begin to C)use a more capital-intensive production technique than before. the new factor price line would become flatter and the firm would begin to use a more D)capital-intensive production technique than before. 4Industries such as chemicals and allied products production tend to have __________ ratios of capital to labor, while industries such as leather and leather products tend to have __________ ratios of capital to labor. low; also lowA) low; highB) high; also highC) high; lowD) 5If Country B is labor abundant relative to Country A, (K/L) > (K/L)ABA) (w/r) > (w/r)ABB) (w/r) < (w/r)ABC) a and b are both correct.D)nd6Suppose in the 22 century there are two factors of production – land and capital. If you were to read that Martian landowners were lobbying against a proposed trade treaty with Earth what would you conclude about Martian relative factor abundance? Land must be relatively abundant on Mars.A) Capital must be relatively abundant on Mars.B) Land must be relatively abundant on Earth.C) b and c are both correct.D) 7In the Heckscher-Ohlin-Samuelson model, when trade commences in relative terms, the wage will rise in the relatively labor abundant countryA) in relative terms, the wage will fall in the relatively labor abundant countryB) the relatively capital abundant country will eventually become relatively labor abundant.C) none of the above.D) 8The observation that in relatively capital abundant countries such as the U.S., labor unions tend to be inclined towards protectionism is in accordance with the Heckscher-Ohlin theorem.A) the Stolper-Samuelson theorem.B) the Rybczynski theorem.C) the Linder theory.D) 9If demand reversals are present the Heckscher-Ohlin theorem to break down, but the factor price equalization theorem is A)not altered. causes the factor price equalization theorem to break down, but the Heckscher-Ohlin B)theorem is not altered. causes both the factor price equalization theorem and the Heckscher-Ohlin C)theorem to break down. does not alter either the factor price equalization theorem or the Heckscher-Ohlin D)theorem. 10This situation that exists when good X is capital-intensive at (w/r) but labor intensive at (w/r) is 12 known as transportation costsA) demand reversalsB) factor intensity reversalsC) specific factorsD) 第十章(1~ 5 DCCAC 6~10 BBEDA) 1Suppose Country II has invented a new product. In Posner's imitation lag hypothesis, if the imitation lag is 18 months and the demand lag is 6 months Country I and Country II will not trade with each other.A) Country I will export the new product to Country II after 24 months have elapsed.B) Country II will export the Country I for a total of 24 months, after which time trade in the C)product will cease Country II will export to Country I for 12 months, after which time exports D)from II to I will diminish. 2During the new product phase of the product cycle model, the innovating country begins to export the product.A) some production of the product may move to other developed countries.B) all production and all consumption of the product occurs in the innovating C)country. all of the above.D) 3The product cycle theory implies that perpetual innovation is unnecessary because a country will not lose its comparative A)advantage in a certain product for many years. developing countries have little hope of becoming able to export more than tiny amounts.B) a country that creates a new product will eventually become a net importer C)of that product. a and c are both correct.D) 4The observation that textiles are now exported by countries such as Bangladesh, India, and Malysia may indicate that textiles have entered the standardized product phase of Vernon's product A)cycle theory. textiles have entered the new product phase of Vernon's product cycle theory.B) textiles have entered the maturing product phase of Vernon's product cycle theory.C) textiles have entered the compartmentalized product phase of Vernon's product cycle D)theory. 5The observation that two relatively rich (and capital-abundant) countries trade a great deal with each other is consistent with the Heckscher-Ohlin theorem.A) is consistent with the Krugman model.B) is consistent with the Linder theory.C) is consistent with the reciprocal dumping model.D) 6The Linder model predicts that trade in manufactured goods will be more intense between countries with dissimilar per capita A)income levels than between countries with similar per capita income levels. trade in manufactured goods will be more intense between countries with similar per B)capita income levels than between countries with dissimilar per capita income levels. intra-industry trade in manufactured products will not commonly occur.C) b and c are both correct.D) 7The gravity model of trade is inconsistent with the Linder model.A) focuses on the determinants of the volume of trade.B) focuses on the determinants of the composition of trade.C) all of the above.D) 8In the Krugman model it may be possible that even owners of the scarce factor of production gain (on net) from trade.A) intra-industry trade cannot occur.B) trade allows economies of scale to be realized.C) all of the above.D) a and c.E) 9The situation in which Mexico both exports and imports broccoli is known as __________ trade; this situation is __________ explained by the Heckscher-Ohlin model. inter-industry; wellA) inter-industry; poorlyB) intra-industry; wellC) intra-industry; poorlyD) 10Possible explanations for intra-industry trade do not include the absence of transport costs.A) differing income distributions in the countries that trade.B) product differentiation.C) all of the above.D) 第十三章(1~5 BADBA 6~10BCDBB)1A tax applied as a percentage of the value of an imported good is known as a(n) preferential dutyA) ad valorem tariffB) specific tariffC) weighted-average tariffD) 2The arrangement whereby products imported from trading partners in the developing world are subject to lower tariff rates than products from other countries is known as the Generalized System of Preferences.A) most-favored nation status.B) normal trade relations status.C) offshore assembly provisions.D) 3Normal trade relations status is sometimes called known as "most-favored-nation status"A) reflects the notion of non-discriminationB) has been a central characteristic of GATT and the WTO.C) all of the above are correctD) a and b onlyE) Use the following information to answer questions 4 and 5. Suppose a country imports only three products. It imports $400,000 worth of good A, $600,000 worth of good B, and $200,000 worth of good C. Suppose further that the tariffs on goods A, B, and C are 25%, 10%, and 50% respectively. 4The unweighted-average tariff rate in this country is 20%A) 28.33%B) 40%C) 70%D) 5The weighted-average tariff rate in this country is 21.67%A) 18%B) 40%C) 70%D) Use the following information to answer the next two questions. Suppose queeks are made using two inputs, flugles and zipples. Suppose further that the free trade prices of queeks, flugles, and zipples are as follows: $25, $5, $12. There is a 15% tariff on queeks and flugles, and 10% tariffs on zipples. 6What is the nominal rate of protection in the queeks industry? 11.67%A) 15%B) 22.5%C) 47.5%D) 7What is the effective rate of protection in the queeks industry? 11.67%A) 15%B) 22.5%C) 47.5%D) 8The requirement that unless 62.5 percent of the value of a car originates in the NAFTA countries a tariff is levied is an example of A voluntary export restraintA) A voluntary restraint agreementB) A government procurement provisionC) A domestic content requirementD) 9An arrangement in which a government levies a tax on its citizens $5 for every unit of a good that is exported is known as a(n): export subsidy.A) export tax.B) export augmentation.C) voluntary export restraint.D) 10Voluntary export restraints may involve: foreign firms agreeing to limit the quantity of foreign products sold in their domestic markets.A) implicit threats of import quotas in case of non-compliance.B) quantitative restrictions imposed by the importing country's government.C) optional taxes on imports.D) 第十四章(1~5 CBBAC 6~10 ABAEB) Use the following diagram to answer questions 1-5: 1The autarky (pre-trade) price of this good is $5.A) $10.B) $15.C) it cannot be determined without additional information.D) 2If this country imposes an export tax of $5 and the price falls from $25 to $20, exports fall to __________ 20A) 40B) 60C) 80D) 100E) 3When a $5 export tax is imposed, government revenue increases by $100A) increases by $200B) increases by $400C) does not changeD) 4When a $5 export tax is imposed, consumer surplus rises by $150A) rises by $450B) falls by $150C) falls by $450D) 5When a $5 export tax is imposed, deadweight loss equals $0: there is no deadweight lossA) $50B) $100C) $200D) 6In the small country case, an import quota leads to an increase in producer surplusA) a decrease in producer surplusB) an increase in consumer surplusC) b and c are both correct.D) 7Tariffs may lead to an increase in a country's total surplus in either the small country or the large country cases.A) in the large country case but not in the small country case.B) in the small country case but not in the large country case.C) never.D) 8If a country causes one of its trading partners to voluntarily limit its exports, that country will see a deterioration of its terms of trade, and a decrease in the volume of A)trade. a deterioration of its terms of trade, and an increase in the volume of trade.B) an improvement of its terms of trade, and a decrease in the volume of trade.C) an improvement of its terms of trade, and an increase in the volume of trade.D) 9Which of the following trade policies will lead to an improvement of a country's terms of trade and a decrease in trade volume? Tariffs.A) Import quotas.B) Voluntary export restraints.C) All of the aboveD) a and b.E) 10In general, export subsidies tend to __________ consumer surplus and __________ producer surplus. increase; increaseA) decrease; increaseB)