国际经济学双语习题3.doc

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1、【精品文档】如有侵权，请联系网站删除，仅供学习与交流国际经济学双语习题3.精品文档.International Economics, 8e (Krugman) Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model3.1 The Concept of Comparative Advantage1) Trade between two countries can benefit both countries if A) each country exports that good in which i

2、t has a comparative advantage. B) each country enjoys superior terms of trade. C) each country has a more elastic demand for the imported goods. D) each country has a more elastic supply for the exported goods. E) Both C and D. Answer: A Question Status: Previous Edition2) In order to know whether a

3、 country has a comparative advantage in the production of one particular product we need information on at least _ unit labor requirements A) one B) two C) three D) four E) five Answer: D Question Status: Previous Edition3) A country engaging in trade according to the principles of comparative advan

4、tage gains from trade because it A) is producing exports indirectly more efficiently than it could alternatively. B) is producing imports indirectly more efficiently than it could domestically. C) is producing exports using fewer labor units. D) is producing imports indirectly using fewer labor unit

5、s. E) None of the above. Answer: B Question Status: Previous Edition4) Given the information in the table above, if it is ascertained that Foreign uses prison-slave labor to produce its exports, then home should A) export cloth. B) export widgets. C) export both and import nothing. D) export and imp

6、ort nothing. E) All of the above. Answer: A Question Status: Previous Edition 5) Given the information in the table above, if the Home economy suffered a meltdown, and the Unit Labor Requirements doubled to 30 for cloth and 60 for widgets then home should A) export cloth. B) export widgets. C) expor

7、t both and import nothing. D) export and import nothing. E) All of the above. Answer: A Question Status: Previous Edition6) The earliest statement of the principle of comparative advantage is associated with A) David Hume. B) David Ricardo. C) Adam Smith. D) Eli Heckscher. E) Bertil Ohlin. Answer: B

8、 Question Status: Previous Edition7) The Gains from Trade associated with the principle of Comparative Advantage depends on A) the trade partners must differ in technology or tastes. B) there can be no more goods traded than the number of trade partners. C) there may be no more trade partners than g

9、oods traded. D) All of the above. E) None of the above. Answer: A Question Status: Previous Edition8) The Ricardian model demonstrates that A) trade between two countries will benefit both countries. B) trade between two countries may benefit both regardless of which good each exports. C) trade betw

10、een two countries may benefit both if each exports the product in which it has a comparative advantage. D) trade between two countries may benefit one but harm the other. E) None of the above. Answer: C Question Status: New 3.2 A One-Factor Economy1) Given the following information:(a)What is the ma

11、rginal cost of a toy in each country?(b)How might you demonstrate (quantitatively) that a country with absolute productivity advantage in a product may find that its production is more costly than in the other (unproductive) country?(c)Demonstrate the fact that trade produces imports (indirectly) ch

12、eaper, even in the relatively unproductive country. Answer: (a)3 units of Soy in the U.S., and 1 Soy unit in Croatia.(b)The U.S. have absolute productivity advantage in toys. Nevertheless, toys are three times more costly than they are in Croatia.(c)In Croatia, one unit of soy will cost one toy. How

13、ever, if the terms of trade fall between the two autarkic price ratios (a condition necessary for both countries to enjoy gains from trade), say at 2 Soy units per toy, then Croatia will gain each Soy unit with less of a sacrifice of toy production. Question Status: Previous Edition3.3 Trade in a On

14、e-Factor World1) Given the information in the table above A) neither country has a comparative advantage. B) Home has a comparative advantage in cloth. C) Foreign has a comparative advantage in cloth. D) Home has a comparative advantage in widgets. E) Home has a comparative advantage in both product

15、s. Answer: B Question Status: Previous Edition2) Given the information in the table above, if wages were to double in Home, then Home should A) export cloth. B) export widgets. C) export both and import nothing. D) export and import nothing. E) All of the above. Answer: A Question Status: Previous E

16、dition 3) Given the information in the table above A) neither country has a comparative advantage. B) Home has a comparative advantage in cloth. C) Foreign has a comparative advantage in cloth. D) Foreign has a comparative advantage in widgets. E) Home has a comparative advantage in both products. A

17、nswer: C Question Status: Previous Edition4) Given the information in the table above, the opportunity cost of cloth in terms of widgets in Foreign is if it is ascertained that Foreign uses prison-slave labor to produce its exports, then home should A) export cloth. B) export widgets. C) export both

18、 and import nothing. D) export and import nothing. E) All of the above. Answer: B Question Status: Previous Edition5) Given the information in the table above, if wages were to double in Home, then Home should A) export cloth. B) export widgets. C) export both and import nothing. D) export and impor

19、t nothing. E) All of the above. Answer: B Question Status: Previous Edition6) Given the information in the table above, if the world equilibrium price of widgets were 4 Cloths, then A) both countries could benefit from trade with each other. B) neither country could benefit from trade with each othe

20、r. C) each country will want to export the good in which it enjoys comparative advantage. D) neither country will want to export the good in which it enjoys comparative advantage. E) both countries will want to specialize in cloth. Answer: A Question Status: Previous Edition7) Given the information

21、in the table above, if the world equilibrium price of widgets were 40 cloths, then A) both countries could benefit from trade with each other. B) neither country could benefit from trade with each other. C) each country will want to export the good in which it enjoys comparative advantage. D) neithe

22、r country will want to export the good in which it enjoys comparative advantage. E) both countries will want to specialize in cloth. Answer: A Question Status: Previous Edition8) In a two product two country world, international trade can lead to increases in A) consumer welfare only if output of bo

23、th products is increased. B) output of both products and consumer welfare in both countries. C) total production of both products but not consumer welfare in both countries. D) consumer welfare in both countries but not total production of both products. E) None of the above. Answer: B Question Stat

24、us: Previous Edition 9) As a result of trade, specialization in the Ricardian model tends to be A) complete with constant costs and with increasing costs. B) complete with constant costs and incomplete with increasing costs. C) incomplete with constant costs and complete with increasing costs. D) in

25、complete with constant costs and incomplete with increasing costs. E) None of the above. Answer: B Question Status: Previous Edition10) As a result of trade between two countries which are of completely different economic sizes, specialization in the Ricardian 2X2 model tends to be A) incomplete in

26、both countries B) complete in both countries C) complete in the small country but incomplete in the large country D) complete in the large country but incomplete in the small country E) None of the above. Answer: C Question Status: Previous Edition11) A nation engaging in trade according to the Rica

27、rdian model will find its consumption bundle A) inside its production possibilities frontier. B) on its production possibilities frontier. C) outside its production possibilities frontier. D) inside its trade-partners production possibilities frontier. E) on its trade-partners production possibiliti

28、es frontier. Answer: C Question Status: Previous Edition12) In the Ricardian model, if a countrys trade is restricted, this will cause all except which? A) limit specialization and the division of labor B) reduce the volume of trade and the gains from trade C) cause nations to produce inside their p

29、roduction possibilities curves D) may result in a country producing some of the product of its comparative disadvantage E) None of the above. Answer: C Question Status: Previous Edition13) If a very small country trades with a very large country according to the Ricardian model, then A) the small co

30、untry will suffer a decrease in economic welfare. B) the large country will suffer a decrease in economic welfare. C) the small country only will enjoy gains from trade. D) the large country will enjoy gains from trade. E) None of the above. Answer: C Question Status: Previous Edition 14) If the wor

31、ld terms of trade for a country are somewhere between the domestic cost ratio of H and that of F, then A) country H but not country F will gain from trade. B) country H and country F will both gain from trade. C) neither country H nor F will gain from trade. D) only the country whose government subs

32、idizes its exports will gain. E) None of the above. Answer: B Question Status: Previous Edition15) If the world terms of trade equal those of country F, then A) country H but not country F will gain from trade. B) country H and country F will both gain from trade. C) neither country H nor F will gai

33、n from trade. D) only the country whose government subsidizes its exports will gain. E) None of the above. Answer: A Question Status: Previous Edition16) If the world terms of trade equal those of country H, then A) country H but not country F will gain from trade. B) country H and country F will bo

34、th gain from trade. C) neither country H nor F will gain from trade. D) only the country whose government subsidizes its exports will gain. E) None of the above. Answer: E Question Status: Previous Edition17) According to Ricardo, a country will have a comparative advantage in the product in which i

35、ts A) labor productivity is relatively low. B) labor productivity is relatively high. C) labor mobility is relatively low. D) labor mobility is relatively high. E) None of the above. Answer: B Question Status: Previous Edition18) Assume that labor is the only factor of production and that wages in t

36、he United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if A) U.S. labor productivity equaled 40 units per hour and Japans 15 units per hour. B) U.S. productivity equaled 30 units per hour whereas Japans was

37、 20. C) U.S. labor productivity equaled 20 and Japans 30. D) U.S. labor productivity equaled 15 and Japans 25 units per hour. E) None of the above. Answer: A Question Status: Previous Edition 19) If two countries engage in Free Trade following the principles of comparative advantage, then A) neither

38、 relative prices nor relative marginal costs (marginal rates of transformation-MRTs) in one country will equal those in the other country. B) both relative prices and MRTs will become equal in both countries. C) relative prices but not MRTs will become equal in both countries. D) MRTs but not relati

39、ve prices will become equal in both countries. E) None of the above. Answer: C Question Status: Previous Edition20) Let us define the real wage as the purchasing power of one hour of labor. In the Ricardian 2X2 model, if two countries under autarky engage in trade then A) the real wage will not be a

40、ffected since this is a financial variable. B) the real wage will increase only if a country attains full specialization. C) the real wage will increase in one country only if it decreases in the other. D) the real wage will rise in both countries. E) None of the above. Answer: D Question Status: Pr

41、evious Edition21) In a two country and two product Ricardian model, a small country is likely to benefit more than the large country because A) the large country will wield greater political power, and hence will not yield to market signals. B) the small country is less likely to trade at price equa

42、l or close to its autarkic (domestic) relative prices. C) the small country is more likely to fully specialize. D) the small country is less likely to fully specialize. E) None of the above. Answer: B Question Status: New22) In the Ricardian model, comparative advantage is not likely be due to A) sc

43、ale economies. B) home product taste bias. C) greater capital availability per worker. D) All of the above. E) None of the above. Answer: D Question Status: New23) An examination of the Ricardian model of comparative advantage yields the clear result that trade is (potentially) beneficial for each o

44、f the two trading partners since it allows for an expanded consumption choice for each. However, for the world as a whole the expansion of production of one product must involve a decrease in the availability of the other, so that it is not clear that trade is better for the world as a whole as compared to an initial situation of non-trade (but efficient production in each country). Are there in fact gains from trade for the world as a whole? Explain. Answer: If we we