国际贸易练习题.docx

国际贸易练习题.docx

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国际贸易练习题

1Chapter1

Introduction

1 MultipleChoiceQuestions

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.From1959to2000,

（a）theU.S.economyroughlytripledinsize.

（b）U.S.importsroughlytripledinsize.

（c）theshareofUSTradeintheeconomyroughlytripledinsize.

（d）U.S.ImportsroughlytripledascomparedtoU.S.exports.

（e）U.S.exportsroughlytripledinsize.

Answer:

C

3.TheUnitedStatesislessdependentontradethanmostothercountriesbecause

（a）theUnitedStatesisarelativelylargecountry.

（b）theUnitedStatesisa“Superpower.”

（c）themilitarypoweroftheUnitedStatesmakesitlessdependentonanything.

（d）theUnitedStatesinvestsinmanyothercountries.

（e）manycountriesinvestintheUnitedStates.

Answer:

A

4.Ancienttheoriesofinternationaleconomicsfromthe18thand19thCenturiesare:

（a）notrelevanttocurrentpolicyanalysis.

（b）areonlyofmoderaterelevanceintoday’smoderninternationaleconomy.

（c）arehighlyrelevantintoday’smoderninternationaleconomy.

（d）aretheonlytheoriesthatactuallyrelevanttomoderninternationaleconomy.

（e）arenotwellunderstoodbymodernmathematicallyorientedtheorists.

Answer:

C

5.Animportantinsightofinternationaltradetheoryisthatwhencountriesexchangegoodsandservicesonewiththeotherit

（a）isalwaysbeneficialtobothcountries.

（b）isusuallybeneficialtobothcountries.

（c）istypicallybeneficialonlytothelowwagetradepartnercountry.

（d）istypicallyharmfultothetechnologicallylaggingcountry.

（e）tendstocreateunemploymentinbothcountries.

Answer:

B

6.Iftherearelargedisparitiesinwagelevelsbetweencountries,then

（a）tradeislikelytobeharmfultobothcountries.

（b）tradeislikelytobeharmfultothecountrywiththehighwages.

（c）tradeislikelytobeharmfultothecountrywiththelowwages.

（d）tradeislikelytobeharmfultoneithercountry.

（e）tradeislikelytohavenoeffectoneithercountry.

Answer:

D

7.Benefitsofinternationaltradearelimitedto

（a）tangiblegoods.

（b）intangiblegoods.

（c）allgoodsbutnotservices.

（d）services.

（e）Noneoftheabove.

Answer:

E

8.Attemptstoexplainthepatternofinternationaltrade

（a）havebeenamajorfocusofinternationaleconomists.

（b）haveproventobehopeless.

（c）haveproventobeatrivialexercise.

（d）havebeenthepreoccupationofeconomicdevelopmenttheorists.

（e）Noneoftheabove.

Answer:

A

9.Whichofthefollowingdoesnotbelong?

（a）NAFTA

（b）UruguayRound

（c）WorldTradeOrganization

（d）NoneTariffBarriers

（e）Noneoftheabove.

Answer:

D

10.Cost-benefitanalysisofinternationaltrade

（a）isbasicallyuseless.

（b）isempiricallyintractable.

（c）focusesattentiononconflictsofinterestwithincountries.

（d）focusesattentiononconflictsofinterestsbetweencountries.

（e）Noneoftheabove.

Answer:

C

11.Animprovementinacountry’sbalanceofpaymentsmeansadecreaseinitsbalanceofpaymentsdeficit,oranincreaseinitssurplus.Infactweknowthatasurplusinabalanceofpayments

（a）isgood.

（b）isusuallygood.

（c）isprobablygood.

（d）maybeconsideredbad.

（e）isalwaysbad.

Answer:

D

12.Thestudyofexchangeratedeterminationisrelatively

（a）difficult.

（b）newandmathematical.

（c）old.

（d）obtuse.

（e）Noneoftheabove.

Answer:

B

13.TheGATTwas

（a）aninternationaltreaty.

（b）aninternationalU.N.agency.

（c）aninternationalIMFagency.

（d）aU.S.governmentagency.

（e）acollectionoftariffs.

Answer:

A

14.Theinternationaldebtcrisisofearly1982wasprecipitatedwhen_____couldnotpayitsinternationaldebts.

（a）Russia

（b）Mexico

（c）Brazil

（d）Malaysia

（e）China

Answer:

B

15.Internationaleconomicscanbedividedintotwobroadsub-fields:

（a）macroandmicro.

（b）developedandlessdeveloped.

（c）monetaryandbarter.

（d）internationaltradeandinternationalmoney.

（e）staticanddynamic.

Answer:

C

16.Aprimaryreasonwhynationsconductinternationaltradeisbecauseofdifferencesin

（a）historicalperspective.

（b）location.

（c）resourceavailabilities.

（d）tastes.

（e）incomes.

Answer:

C

17.Internationaltradeissometimesusedasasubstituteforallofthefollowingexcept

（a）internationalmovementsofcapital.

（b）internationalmovementsoflabor.

（c）domesticproductionofthesamegoodsorservices.

（d）domesticproductionofdifferentgoodsandservices.

（e）Noneoftheabove.

Answer:

D

18.Internationaltradeforcesdomesticfirmstobecomemorecompetitiveintermsof

（a）theintroductionofnewproducts.

（b）productdesignandquality.

（c）productreliability.

（d）productprice.

（e）Alloftheabove.

Answer:

E

19.Themovementtofreeinternationaltradeismostlikelytogenerateshort-termunemploymentinwhichindustries?

（a）Industriesproducingnon-tradablegoods

（b）Import-competingindustries

（c）Exportindustries

（d）Importsectors

（e）Noneoftheabove.

Answer:

B

20.Internationaltradeislogicallyassociatedwithwhichassumption?

（a）Resourcesarelessmobileinternationallythandomestically.

（b）Resourcesaremoremobileinternationallythanaregoods.

（c）Importsshouldexceedexports.

（d）Exportsshouldexceedimports.

（e）Noneoftheabove.

Answer:

A

21.Argumentsforfreetradearesometimesdisregardedbythepoliticalprocessbecause

（a）economiststendtofavorhighlyprotecteddomesticmarkets.

（b）economistshaveauniversallyaccepteddecisivepoweroverthepoliticaldecisionmechanism.

（c）maximizingconsumerwelfaremaynotbeachiefpriorityforpoliticians.

（d）thegainsoftradeareofparamountconcerntotypicalconsumers.

（e）Noneoftheabove.

Answer:

C

22.Increasedforeigncompetitiontendsto

（a）increaseprofitsofdomesticimport-competingindustries.

（b）placeconstraintsonthewagesofdomesticworkers.

（c）inducefallingoutputperworkerfordomesticworkers.

（d）intensityinflationarypressuresathome

（e）Noneoftheabove.

Answer:

B

23.____________istheabilityofafirmtodesign,produce,andmarketgoodsandservicesthatarebetterand/orcheaperthanthoseofotherfirms.

（a）Competitiveness

（b）Protectionism

（c）Comparativeadvantage

（d）Interventionism

（e）Noneoftheabove.

Answer:

A

24.Foracountrytomaximizeitsproductivityinaglobaleconomy,itrequires

（a）onlyimports.

（b）onlyexports.

（c）bothexportsandimports.

（d）neitherexportsnorimports.

（e）foreigndirectinvestment.

Answer:

C

25.Proponentsoffreetradeclaimallofthefollowingasadvantagesexcept

（a）relativelyhighwagelevelsforalldomesticworkers.

（b）awiderselectionofproductsforconsumers.

（c）increasedcompetitionforworldproducers.

（d）theutilizationofthemostefficientproductionprocesses.

（e）Noneoftheabove.

Answer:

A

26.Afirm’s____,relativetothatofotherfirms,isgenerallyregardedasthemostimportantdeterminantofcompetitiveness.

（a）incomelevel

（b）tastes

（c）preferences

（d）productivity

（e）environmentalregulation

Answer:

D

27.Onelikelyeffectofmovingtofreeinternationaltradeisthat

（a）amonopolyinthehomemarketbecomesanoligopolyintheworldmarket.

（b）anoligopolyinthehomemarketbecomesamonopolyintheworldmarket.

（c）apurelycompetitivefirmbecomesanoligopolist.

（d）apurelycompetitivefirmbecomesamonopolist.

（e）Noneoftheabove.

Answer:

A

28.Internationaltradeingoodsandservicestendsto

（a）increasealldomesticcostsandprices.

（b）keepalldomesticcostsandpricesatthesamelevel.

（c）lessentheamountofcompetitionfacinghomemanufactures.

（d）increasetheamountofcompetitionfacinghomemanufacturers.

（e）Noneoftheabove.

Answer:

D

29.Therealincomeofdomesticproducersandconsumersmaybeincreasedby

（a）technologicalprogress,butnotinternationaltrade.

（b）internationaltrade,butnottechnologicalprogress.

（c）neithertechnologicalprogressnorinternationaltrade.

（d）bothtechnologicalprogressandinternationaltrade.

（e）Noneoftheabove.

Answer:

D

30.Asuddenshiftfromimporttariffstofreetrademaycauseshort-termunemploymentin

（a）importcompetingindustries.

（b）exportingindustries.

（c）industriesthatneitherimportnorexport.

（d）serviceindustries

（e）Noneoftheabove.

Answer:

A

31.Empiricalstudiesindicatethatproductivityperformanceis

（a）directlyrelatedtoglobalizationofindustries.

（b）inverselyrelatedtoglobalizationofindustries.

（c）notrelatedtoglobalizationofindustries.

（d）Anyoftheabove.

（e）Noneoftheabove.

Answer:

A

32.Aclosedeconomyisoneinwhich

（a）importsexactlyequalexports.

（b）domesticfirmsinvestinforeigncountries.

（c）thehomeeconomyisisolatedfromforeigntradeorinvestment.

（d）Alloftheabove.

（e）Noneoftheabove.

Answer:

C

33.ThedominanttradingnationintheworldmarketsinceWorldWarIIwas

（a）theUnitedKingdom.

（b）theUnitedStates.

（c）Japan.

（d）Germany.

（e）China.

Answer:

B

34.Empiricalstudiesindicatethat_______________bestenhancesproductivitygrowthforlocalindustries

（a）localcompetition

（b）cut-throatcompetition

（c）destabilizingcompetition

（d）globalcompetition

（e）Noneoftheabove.

Answer:

D

35.Highlevelsofopennessaremostlikelyassociatedwithacountry’s

（a）politicalorientation.

（b）size.

（c）resourceavailability.

（d）historicalassociationwithfore