International Trade国际贸易英文版 期末复习题.doc

Classicl trade theoryThis table shows bushels of wheat and the yards of cloth that the US and the UK can produce with one hour of labor time under four different hypothetical situations.ClothWheatUK21US34Suppose that the US exchange 4W for 4C with the UKa. How much does the US gain?b. How much does the UK gain?c. What is the range for mutually beneficial trade?Suppose that the US exchange 4W for 6C with the UKa. How much does the US gain?b. How much does the UK gain?c. What is the range for mutually beneficial trade?Neo-classical trade theoryThe country of Pugelovia has an endowment (total supply) of 20 units of labor and 3 units of land, whereas the rest of the world has 80 units of labor and 7 units of land. Is Pugelovia labor-abundant? Is Pugelovi land-abundant? If wheat is land-intensive and cloth is labor-intensive, what is the Heckscher-Ohlin prediction for the pattern of trade between Pugelovia and the rest of the world?From the following information calculate the total input shares of labor and capital in each dollar of cloth output:For Each Dollar ofCloth OutputSynthetic Fiber OutputCotton Fiber OutputDirect labor input$0.50$0.30$0.60Deirect capital input0.200.700.40Synthetic fiber input0.100.000.00Cotton fiber input0.200.000.00All inputs$1.00$1.00$1.00Cloth is the only product that this country exports. The total input share of labor in producing $1.00 of import substitutes in this country is $0.55, and the total input share of capital is $0.45. Is this trade pattern consistent with the fact that this country is relatively labor-abundant and capital-scarce?TariffYou have been asked to quantify the effects of a countrys tariff on sugar. The hard part of the work is already done: Somebody has esimated how many pounds of sugar would be produced, consumed, and imported by the country if there were no sugar duty. You are given the information shown in the table.Situation with Import TariffEstimated Situation without TariffWold price$0.10 per pound$0.10 per poundTariff$0.02 per pound0Domestic price$0.12 per pound$0.10 per poundDomestic consumption(billions of pounds per year)2022Domestic production(billions of pounds per year)86Imports (billions of pounds per year)1216Calculate the following measures:a. The domestic consumers gain from removing the tariff.b. The domestic producers loss from removing the tariff.c. The government tariff revenue loss.d. The net efeect on national well-being.You have been asked to quantify the effects of a countrys tariff on sugar. The hard part of the work is already done: Somebody has esimated how many pounds of sugar would be produced, consumed, and imported by the country if there were no sugar duty. You are given the information shown in the table.Situation with Import TariffEstimated Situation without TariffWold price$5.00 per pound$5.00 per poundTariff$1.00 per pound0Domestic price$6.00 per pound$5.00 per poundDomestic consumption(billions of pounds per year)160190Domestic production(billions of pounds per year)120100Imports (billions of pounds per year)4090Calculate the following measures:e. The domestic consumers gain from removing the tariff.f. The domestic producers loss from removing the tariff.g. The government tariff revenue loss.h. The net efeect on national well-being. Non-tariffSuppose that US has three choices about the trade policy of skates imported from Canada: Free trade with no protections; A special tariff of $80 per pair; A Voluntary export restraint. Calculate the US net national gains or losses from the tariff, and those from the VER, relative to free trade. Which of the three choices looks best for the US as a whole? Which looks worst?(unit: millions pairs)Free trade$80 TariffVERWorld price$200$170$170Domestic price$200$250$250Imports1066According to the information shown in the table, quantify the effects of a countrys import quota on sugar. Suppose that the government auctions the quota right.Calculate the following measures:a. Calculate how much domesitic producers gain or loss form the quota.b. Calculate how much domesitic consumers gain or loss form the quota.c. Calculate how much the government receives in payment when it auctions the quota rights to import.d. Calculate the net national gain or loss from the quota.Situation without quotaSituation with quotaWold price$0.1