国际贸易14章文档格式.docx

国际贸易14章文档格式.docx

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E

2）Ancienttheoriesofinternationaleconomicsfromthe18thand19thCenturiesare

notrelevanttocurrentpolicyanalysis.

areonlyofmoderaterelevanceintoday’smoderninternationaleconomy.

arehighlyrelevantintoday’smoderninternationaleconomy.

aretheonlytheoriesthatactuallyrelevanttomoderninternationaleconomy.

arenotwellunderstoodbymodernmathematicallyorientedtheorists.

C

3）

Animportantinsightofinternationaltradetheoryisthatwhencountriesexchangegoodsandservicesonewiththeotherit

isalwaysbeneficialtobothcountries.

isusuallybeneficialtobothcountries.

istypicallybeneficialonlytothelowwagetradepartnercountry.

istypicallyharmfultothetechnologicallylaggingcountry.

tendstocreateunemploymentinbothcountries.

B

4）

Iftherearelargedisparitiesinwagelevelsbetweencountries,then

tradeislikelytobeharmfultobothcountries.

tradeislikelytobeharmfultothecountrywiththehighwages.

tradeislikelytobeharmfultothecountrywiththelowwages.

tradeislikelytobeharmfultoneithercountry.

tradeislikelytohavenoeffectoneithercountry.

D

5）

Whosellswhattowhom

hasbeenamajorpreoccupationofinternationaleconomics.

isnotavalidconcernofinternationaleconomics.

isnotconsideredimportantforgovernmentforeigntradepolicysincesuchdecisionsaremadeintheprivatecompetitivemarket.

isdeterminedbypoliticalratherthaneconomicfactors.

Noneoftheabove

A

6）

Theinsightthatpatternsoftradeareprimarilydeterminedbyinternationaldifferencesinlaborproductivitywasfirstproposedby

AdamSmith.

DavidHume.

DavidRicardo.

EliHeckscher.

LernerandSamuelson.

7）

Theeuro,acommoncurrencyformostofthenationsofWesternEurope,wasintroduced

before1900.

before1990.

before2000.

inordertosnubtheprideoftheU.S.

Noneoftheabove.

8）

Forthe50yearspreceding1994,internationaltradepolicieshavebeengoverned

bytheWorldTradeOrganization.

bytheInternationalMonetaryFund.

bytheWorld.

byaninternationaltreatyknownastheGeneralAgreementonTariffsandTrade（GATT）.

D

9）

Theinternationalcapitalmarketis

theplacewhereyoucanrentearthmovingequipmentanywhereintheworld.

asetofarrangementsbywhichindividualsandfirmsexchangemoneynowforpromisestopayinthefuture.

thearrangementwherebanksbuilduptheircapitalbyborrowingfromtheCentralBank.

theplacewhereemergingeconomiesacceptcapitalinvestedbybanks.

10）

Since1994,traderuleshavebeenenforcedby

theWTO.

theG10.

theGATT.

TheU.S.Congress.

A

11）

Cost-benefitanalysisofinternationaltrade

isbasicallyuseless.

isempiricallyintractable.

focusesattentionprimarilyonconflictsofinterestwithincountries.

focusesattentiononconflictsofinterestsbetweencountries.

C

12）

Animprovementinacountry’sbalanceofpaymentsmeansadecreaseinitsbalanceofpaymentsdeficit,oranincreaseinitssurplus.Infactweknowthatasurplusinabalanceofpayments

isgood.

isusuallygood.

isprobablygood.

maybeconsideredbad.

isalwaysbad.

13）

TheGATTwas

aninternationaltreaty.

aninternationalU.N.agency.

aninternationalIMFagency.

aU.S.governmentagency.

acollectionoftariffs.

14）

Internationaleconomicscanbedividedintotwobroadsub-fields

macroandmicro.

developedandlessdeveloped.

monetaryandbarter.

internationaltradeandinternationalmoney.

staticanddynamic.

Chapter2

WorldTrade:

AnOverview

2.1

WhoTradeswithWhom?

Whatpercentofallworldproductionofgoodsandservicesisexportedtoothercountries?

10%

30%

50%

100%

B

2）

Thegravitymodeloffersalogicalexplanationforthefactthat

tradebetweenAsiaandtheU.S.hasgrownfasterthanNAFTAtrade.

tradeinserviceshasgrownfasterthantradeingoods.

tradeinmanufactureshasgrownfasterthaninagriculturalproducts.

Intra-EuropeanUniontradeexceedsInternationalTradeoftheEuropeanUnion.

Accordingtothegravitymodel,acharacteristicthattendstoaffecttheprobabilityoftradeexistingbetweenanytwocountriesis

theirculturalaffinity.

theaverageweight/valueoftheirtradedgoods.

theircolonial-historicalties.

thedistancebetweenthem.

thenumberofvarietiesproducedontheaveragebytheirindustries.

Whydoesthegravitymodelwork?

Largeeconomiesbecamelargebecausetheywereengagedininternationaltrade.

Largeeconomieshaverelativelylargeincomes,andhencespendmoreongovernmentpromotionoftradeandinvestment.

Largeeconomieshaverelativelylargerareaswhichraisestheprobabilitythataproductiveactivitywilltakeplacewithinthebordersofthatcountry.

Largeeconomiestendtohavelargeincomesandtendtospendmoreonimports.

ThetwoneighborsoftheUnitedStatesdoalotmoretradewiththeUnitedStatesthanEuropeaneconomiesofequalsize.

Thiscontradictspredictionsfromgravitymodels.

Thisisconsistentwithpredictionsfromgravitymodels.

Thisisrelevanttoanyinferencesthatmaybedrawnfromgravitymodels.

ThisisbecausetheseneighboringcountrieshaveexceptionallylargeGDPs.

SinceWorldWarII（theearly1950s）,theproportionofmostcountries'

productionbeingusedinsomeothercountry

remainedconstant.

increased.

decreased.

fluctuatedwidelywithnocleartrend.

bothAandDabove.

SinceWorldWarII,therelativeimportanceofrawmaterials,includingoil,intotalworldtrade

fluctuatedwidelywithnocleartrend

C

InthecurrentPost-Industrialeconomy,internationaltradeinservices（includingbankingandfinancialservices）

dominatesworldtrade.

doesnotexist.

isrelativelysmall.

isrelativelystagnant.

Inthepre-WorldWarIperiod,theU.S.exportedprimarily

manufacturedgoods.

services.

primaryproductsincludingagricultural.

technologyintensiveproducts.

Inthepre-WorldWarIperiod,theUnitedKingdomexportedprimarily

Inthepresent,mostoftheexportsfromChinaarein

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

Tradebetweentwocountriescanbenefitbothcountriesif

eachcountryexportsthatgoodinwhichithasacomparativeadvantage.

eachcountryenjoyssuperiortermsoftrade.

eachcountryhasamoreelasticdemandfortheimportedgoods.

eachcountryhasamoreelasticsupplyfortheexportedgoods.

BothCandD.

A

Inordertoknowwhetheracountryhasacomparativeadvantageintheproductionofoneparticularproductweneedinformationonatleast________unitlaborrequirements

one

two

three

four

five

D

Acountryengagingintradeaccordingtoth