国际经济学答案

.,ReviewQuestionsandProblemsforChapter3,a.Increasingopportunitycostsarisebecauseresourcesorfactorsofproductionarenothomogeneous(i.e.,allunitsofthesamefactorarenotidenticalorofthesamequality)andnotusedinthesamefixedproportionorintensityintheproductionofallcommodities.Thismeansthatasthenationproducesmoreofacommodity,itmustutilizeresourcesthatbecomeprogressivelylessefficientorlesssuitedfortheproductionofthatcommodity.Asaresult,thenationmustgiveupmoreandmoreofthesecondcommoditytoreleasejustenoughresourcestoproduceeachadditionalunitofthefirstcommodity(i.e.,itfacesincreasingcosts).b.Intherealworld,theproductionfrontiersofdifferentnationswillusuallydifferbecauseofdifferencesinfactorendowmentsandtechnology.,.,AnswertoReviewQuestionsandProblems,2.a.Seethefollowingfigure.,b.TheslopeofthetransformationcurveincreasesasthenationproducesmoreofXanddecreasesasthenationproducesmoreofY.ThesereflectincreasingopportunitycostsasthenationproducesmoreofXorY.,.,AnswertoReviewQuestionsandProblems,3.a.Seethefollowingfigure.,b.Nation1hasacomparativeadvantageinXandNation2inY.c.Iftherelativecommoditypricelineinautarkyhasequalslopeinbothnations.Thisisrare.,.,AnswertoReviewQuestionsandProblems,4.a.SeefollowingFigure3.PointsBandBaretheproductionpointsinNations1and2,respectively,withspecializationandtradeandEandEaretheconsumptionpoints.,.,AnswertoReviewQuestionsandProblems,5.a.Theequilibrium-relativecommoditypriceinisolationistherelativepricethatprevailsinthenationwithouttradeorinautarky.b.Theequilibrium-relativecommoditypriceinisolationforthecommodityplottedalongthehorizontalaxisisgivenbythe(absolute)slopeofthetangentoftheproductionfrontierandthecommunityindifferencecurveatthepointofproductionandconsumptioninthenationinisolation.c.Thenationwiththelowerequilibriumrelativecommoditypriceinisolationorautarkyhasacomparativeadvantageinthecommoditymeasuredalongthecommodityaxisandacomparativedisadvantageinthecommoditymeasuredalongtheverticalaxis.,.,AnswertoReviewQuestionsandProblems,6.SeeFigurefollowing.,.,AnswertoReviewQuestionsandProblems,7.a.Thereasonforincompletespecializationunderincreasingcostsisthataseachnationspecializesintheproductionofthecommodityofitscomparativeadvantage,therelativecommoditypriceineachnationmovestowardeachother(i.e.,becomelessunequal)untiltheyareidenticalinbothnations.Atthatpoint,itdoesnotpayforeithernationtocontinuetoexpandtheproductionofthecommodityofitsinitialcomparativeadvantage.Thisoccursbeforeeithernationhascompletelyspecializedinproduction.b.Underconstantcosts,eachnationspecializescompletelyinproductionofthecommodityofitscomparativeadvantage(i.e.,producesonlythatcommodity).Thereasonisthatsinceitpaysforthenationtoobtainsomeofthecommodityofitscomparativedisadvantagefromtheothernation,thenitpaysforthenationtogetallofthecommodityofitscomparativedisadvantagefromtheothernation(i.e.,tospecializecompletelyintheproductionofthecommodityofitscomparativeadvantage).,.,AnswertoReviewQuestionsandProblems,8.SeeFigurefollowing.Nations1and2haveidenticalproductionfrontiers(shownbyasinglecurve)butdifferenttastes(indifferencecurves).Inisolation,Nation1producesandconsumesatpointAandNation2atpointA.SincePAPA,Nation1hasacomparativeadvantageinXandNation2inY.,.,AnswertoReviewQuestionsandProblems,9.a.Ifthetermsoftradeofanationimprovedfrom100to110overagivenperiodoftime,thetermsoftradeofthetradepartnerwoulddeterioratebyabout9percentoverthesameperiodoftime(100-110)/110=-0.09=0.9%.b.Adeteriorationinthetermsoftradeofthetradepartnercanbesaidtobeunfavorabletothetradepartnerbecausethetradepartnermustpayahigherpriceforitsimportsintermsofitsexports.c.Thisdoesnotnecessarilymeanthatthewelfareofthetradepartnerhasdecreasedbecausethedeteriorationinitstermsoftrademayhaveresultedfromanincreaseinproductivitythatissharedwiththeothernation.,.,AnswertoReviewQuestionsandProblems,10.ItistruethatMexicoswagesaremuchlowerthanU.S.wages(theyareaboutonefifthoftheaveragewageintheUnitedStates),butlaborproductivityismuchhigherintheUnitedStatesandsolaborcostsarenotnecessarilyhigherthaninMexico.Inanyevent,tradecanstillbebasedoncomparativeadvantage.,.,Multiple-ChoiceQuestions,1.Aproductionfrontierthatisconcaveindicatesthatthenationincursincreasingopportunitycostsintheproductionof:modityXmodityYonlyc.bothcommoditiesd.neithercommodity,2.Themarginalrateoftransformation(MRT)ofXforYrefersto:a.theamountofYthatanationmustgiveuptoproduceeachadditionalunitofXb.theopportunitycostofXc.theabsoluteslopeoftheproductionfrontieratthepointofproductiond.alloftheabove,.,AnswertoReviewQuestionsandProblems,3.Whichofthefollowingisnotareasonforincreasingopportunitycosts:a.technologydiffersamongnationsb.factorsofproductionarenothomogeneousc.factorsofproductionarenotusedinthesamefixedproportionintheproductionofallcommoditiesd.forthenationtoproducemoreofacommodity,itmustuseresourcesthatarelessandlesssuitedintheproductionofthecommodity,.,AnswertoReviewQuestionsandProblems,4.Communityindifferencecurves:a.arenegativelyslopedb.areconvextotheoriginc.shouldnotcrossd.alloftheabove,5.WhichofthefollowingstatementsistruewithrespecttotheMRSofXforY?a.itisgivenbytheabsoluteslopeoftheindifferencecurveb.declinesasthenationmovesdownanindifferencecurvec.risesasthenationmovesupanindifferencecurved.alloftheabove,.,AnswertoReviewQuestionsandProblems,6.Themarginalrateofsubstitution(MRS)ofXforYinconsumptionreferstothe:a.amountofXthatanationmustgiveupforoneextraunitofYandstillremainonthesameindifferencecurveb.amountofYthatanationmustgiveupforoneextraunitofXandstillremainonthesameindifferencecurveb.amountofXthatanationmustgiveupforoneextraunitofYtoreachahigherindifferencecurvec.amountofYthatanationmustgiveupforoneextraunitofXtoreachahigherindifferencecurve,.,AnswertoReviewQuestionsandProblems,7.Whichofthefollowingisnottrueforanationthatisinequilibriuminisolation?a.itconsumesinsideitsproductionfrontierb.itreachesthehighestindifferencecurvepossiblewithitsproductionfrontierc.theindifferencecurveistangenttothenationsproductionfrontierd.MRTofXforYequalsMRSofXforY,andtheyareequaltoPx/Py,.,AnswertoReviewQuestionsandProblems,8.IftheinternalPx/Pyislowerinnation1thaninnation2withouttrade:a.nation1hasacomparativeadvantageincommodityYb.nation2hasacomparativeadvantageincommodityXc.nation2hasacomparativeadvantageincommodityYd.noneoftheabove,9.IfactualPx/PyexceedstheequilibriumrelativePx/Pywithtradea.thenationexportingcommodityXwillwanttoexportmoreofXthanatequilibriumb.thenationimportingcommodityXwillwanttoimportlessofXthanatequilibriumc.Px/PywillfalltowardtheequilibriumPx/Pyd.alloftheabove,.,AnswertoReviewQuestionsandProblems,10.Withfreetradeunderincreasingcosts:a.neithernationwillspecializecompletelyinproductionifbothnationsarelargeb.atleastonenationwillconsumeaboveitsproductionfrontierc.asmallnationwillalwaysgainfromtraded.alloftheabove,11.Whichofthefollowingstatementsistrue?a.anationsdemandcurveofacommodityisderivedfromproductionpointsonthenationsproductionfrontier.b.anationssupplycurveforacommodityisderivedfromcommunityindifferencecurvesandtradelinesc.thepriceofthenationsimportcommoditywillfallasaresultofinternationaltraded.noneoftheabove,.,AnswertoReviewQuestionsandProblems,12.Atarelativecommoditypriceaboveequilibriuma.thequantitydemandofimportsexceedsthequantitysuppliedofexportsb.therelativepriceofthecommoditywillrisec.thecommoditypricewillfalld.noneoftheabove,13.Ifthetermsoftradeincreaseinatwo-nationworld,thoseofthetradepartner:a.deteriorateb.improvec.remainunchangedd.anyoftheabove,.,AnswertoReviewQuestionsandProblems,14.Adeteriorationofanationstermsoftradecausesthenationswelfareto:a.deteriorateb.improvec.remainunchangedd.anyoftheabove,15.Mutuallybeneficialtradecannotoccurifproductionfrontiersare:a.equalbuttastesarenotb.differentbuttastesarethesamec.differentandtastesarealsodifferentd.thesameandtastesarealsothesame.,.,AnswerstoReviewQuestionsandProblemsforChapterfour,1.a.TheHeckscherOhlin(H-0)theorempostulatesthatanationwillexportthosecommoditieswhoseproductionrequirestheintensiveuseofthenationsrelativelyabundantandcheapfactorandimportthecommoditieswhoseproductionrequirestheintensiveuseofthenationsrelativelyscarceandexpensivefactor.Inshort,therelativelylabor-richnationexportsrelativelylabor-intensivecommoditiesandimportstherelativelycapital-intensivecommodities.,.,b.HeckscherandOhlinidentifytherelativedifferenceinfactorendowmentsamongnationsasthebasicdeterminantofcomparativeadvantageandinternationaltrade.c.TheH-OTheoryrepresentanextensionofthestandardtrademodelbecauseitexplainsthebasisforcomparativeadvantage(classicaleconomists,suchasRicardohadassumedit)andexaminestheeffectofinternationaltradeonfactorpricesandincomedistribution(whichclassicaleconomistshadleftunanswered).,AnswerstoReviewQuestionsandProblems,.,2.SeethefollowingFigure,AnswerstoReviewQuestionsandProblems,.,9.SeethefollowingFigure,AnswerstoReviewQuestionsandProblems,.,Multiple-ChoiceQuestions,AnswerstoReviewQuestionsandProblems,1.TheH-Omodelextendstheclassicaltrademodelby:a.explainingthebasisforcomparativeadvantageb.examiningtheeffectoftradeonfactorpricesc.bothaandbd.neitheranorb,.,2.AnationissaidtohavearelativeabundanceofKifithasa:a.greaterabsoluteamountofKb.smallerabsoluteamountofLc.higherL/Kratiod.lowerpriceofKinrelationtothepriceofL,AnswerstoReviewQuestionsandProblems,.,3.Adifferenceinrelativecommoditypricesbetweennationscanbebasedonadifferencein:a.technologyb.factorendowmentsc.tastesd.alloftheabove,AnswerstoReviewQuestionsandProblems,.,4.IntheH-Omodel,internationaltradeisbasedmostlyonadifferencein:a.technologyb.factorendowmentsc.economiesofscaled.tastes,AnswerstoReviewQuestionsandProblems,.,5.AccordingtotheH-Otheory,tradereducesinternationaldifferencesin:moditypricesb.infactorpricesc.bothcommodityandfactorpricesd.neitherrelativenorabsolutefactorprices,AnswerstoReviewQuestionsandProblems,.,6.AccordingtotheStolper-Samuelsontheorem,internationaltradeleadstoa.reductionintherealincomeofthenationsrelativelyabundantfactorb.reductionintherealincomeofthenationsrelativelyscarcefactorc.increaseintherealincomeofthenationsrelativelyscarcefactord.noneoftheabove,AnswerstoReviewQuestionsandProblems,.,7.Whichofthefollowingisfalsewithregardtothespecificfactorstheorem,internationaltradea.harmstheimmobilefactorsthatarespecifictothenationsexportcommoditiesorsectorsb.harmstheimmobilefactorsthatarespecifictothenationsimport-competingcommoditiesc.hasanambiguouseffectonthenationsmobilefactorsd.maybenefitorharmthenationsmobilefactors,AnswerstoReviewQuestionsandProblems,.,8.Perfectinternationalmobilityoffactorsofproductiona.leadstoareductionininternationaldifferencesinthereturnstohomogenousfactorsb.actsasasubstituteforinternationaltradeinitseffectsonfactorpricesc.operatesonthesupplyoffactorsinaffectingfactorpricesd.alloftheabove,AnswerstoReviewQuestionsandProblems,.,9.TheLeontiefparadoxreferstotheempiricalfindingthatU.S.a.importsubstitutesweremoreK-intensivethanexportsb.exportsweremoreL-intensivethanimportsc.exportsweremoreK-intensivethanimportsubstitutesd.alloftheabove,AnswerstoReviewQuestionsandProblems,.,10.Fromempiricalstudies,weoncludethattheH-Otheory:a.mustberejectedb.mustbeacceptedwithoutreservationsc.cangenerallybeacceptedd.explainsallinternationaltrade,AnswerstoReviewQuestionsandProblems,.,11.Internationaltradecanbebasedoneconomiesofscaleevenifbothnationshaveidentical:a.factorendowmentsb.tastesc.technologyd.alloftheabove,AnswerstoReviewQuestionsandProblems,.,12.Agreatdealofinternationaltrade:a.isintra-industrytradeb.involvesdifferentiatedproductsc.isbasedonmonopolisticcompetitiond.alloftheabove,AnswerstoReviewQuestionsandProblems,.,AnswertoProblemsforChapter5,1.a.SeefollowingFigure1,b.Consumptionis70X,productionis50Xandimportsare20X.c.Theconsumptioneffectis30X,theproductioneffectis+30X,thetradeeffectis60X,andtherevenueeffectis$30,.,AnswertoProblems,2.a.Theconsumersurplusis$250withoutand$l22.50withthetariff(seeaboveFigure).b.Oftheincreaseintherevenueofproducerswiththetariff(ascomparedwiththeirrevenuesunderfreetrade),$22.50representstheincreaseinproductioncostsandanother$22.50representstheincreaseinrentorproducersurplus(seeaboveFigure).c.Thedollarvalueortheprotectioncostofthetariffis$45(seeaboveFigure).,.,AnswertoProblems,3.seefollowingFigure,.,AnswertoProblems,4.seefollowingFigure,.,AnswertoProblems,5.Theoptimumtariffisthetariffthatmaximizesthenetbenefitresultingfromtheimprovementinthenationstermsoftradeagainstthenegativeeffectresultingfromreductioninthevolumeoftrade.,.,AnswertoProblems,6.a.Whenanationimposesanoptimumtariff,thetradepartnerswelfaredeclinesbecauseofthelowervolumeoftradeandthedeteriorationinitstermsoftrade.b.Thetradepartnerislikelytoretaliateandintheendbothnationsarelikelytolosebecauseofthereductioninthevolumeoftrade.,.,AnswertoProblems,7.Evenwhenthetradepartnerdoesnotretaliatewhenonenationimposestheoptimumtariff,thegainsofthetariff-imposingnationarelessthanthelossesofthetradepartner,sothattheworldasawholeisworseoffthanunderfreetrade.Itisinthissensethatfreetrademaximizesworldwelfare.,.,AnswertoProblems,8.a.Thenominaltariffiscalculatedonthemarketpriceoftheproductorservice.Therateofeffectiveprotection,ontheotherhand,iscalculatedonthevalueaddedinthenation.Itisequaltothevalueofthepriceofthecommodityorserviceminusthevalueoftheimportedinputsusedintheproductionofthecommodityorservice.b.Thenominaltariffisimportanttoconsumersbecauseitdeterminesbyhowmuchthepriceoftheimportedcommodityincreases.Therateofeffectiveprotectionisimportantfordomesticproducersbecauseitdeterminestheactualrateofprotectionprovidedbythetarifftodomesticprocessing.,.,AnswertoProblems,9.a.Ratesofeffectiveprotectioninindustrialnationsaregenerallymuchhigherthanthecorrespondingnominalratesandincreasewiththedegreeofprocessing.b.Thetariffstructureofdevelopednationsisofgreatconcernfordevelopingnationsbecauseitdiscouragesmanufacturingproductionindevelopingnations.,.,AnswertoProblems,10.Ifanationreducesthenominaltariffontheimportationoftherawmaterialsrequiredtoproduceacommoditybutdoesnotreducethetariffontheimportationofthefinalcommodityproducedwiththeimportedrawmaterial,thentheeffectivetariffrateswillincreaserelativetothenominaltariffrateonthecommodity.,.,Multiple-choiceQuestions,1.Whichofthefollowingstatementsisincorrect?a.anadvaloremtariffisexpressedasapercentageofthepriceofthetradedcommodity.b.aspecifictariffisexpressedasafixedsumofthevalueofthetradedcommodity.c.exporttariffsareprohibitedbytheU.S.Constitutiond.theU.S.usesexclusivelythespecifictariff,.,Multiple-choiceQuestions,2.Asmallnationisone:a.whichdoesnotaffectworldpricebyitstradingb.whichfacesaninfinitelyelasticworldsupplycurveforitsimportcommodityc.whoseconsumerswillpayapricethatexceedstheworldpricebytheamountofthetariffd.alloftheabove,.,Multiple-choiceQuestions,3.Ifasmallnationincreasesthetariffonitsimportcommodity,its:ductionofthecommoditydecreasesc.importsofthecommodityincreased.noneoftheabove,.,Multiple-choiceQuestions,4.Theincreaseinproducersurpluswhenasmallnationimposesatariffismeasuredbythearea:a.totheleftofthesupplycurvebetweenthecommoditypricewithandwithoutthetariffb.underthesupplycurvebetweenthequantityproducedwithandwithoutthetariffc.underthedemandcurvebetweenthecommoditypricewithandwithoutthetariffd.noneoftheabove.,.,Multiple-choiceQuestions,5.Ifasmallnationincreasesthetariffonitsimportcommodity:a.therentofdomesticproducersofthecommodityincreasesb.theprotectioncostofthetariffdecreasesc.thedeadweightlossdecreasesd.alloftheabove,.,Multiple-choiceQuestions,6.Theimpositionofanoptimumtariffbyasmallnation:a.improvesitstermsoftradeb.reducesthevolumeoftradec.increasesthenationswelfared.nonoftheabove,.,Multiple-choiceQuestions,7.Theoptimumtariffforasmallnationis:a.100%b.50%c.0d.dependsontheelasticityofdemandandsupplyfortheimportcommodityinthenation,.,Multiple-choiceQuestions,8.Theimpositionofanoptimumtariffbyalargenation:a.improvesitstermsoftradeb.reducesthevolumeoftradec.increasesthenationswelfared.alloftheabove,.,Multiple-choiceQuestions,9.Theimpositionofanoptimumtariffbyalargenation:a.improvesthetermsoftradeofthetradepartnerb.reducesthevolumeoftradec.increasesthetradepartnerswelfared.alloftheabove,.,Multiple-choiceQuestions,10.Iftwolargecountriesimposeanoptimumtariffa.thewelfareofthebothnationsdecreaseb.thewelfareofthebothnationsincreasec.thewelfareofthelargernationwillincreaseandthatoftheothernationdecreasesd.thewelfareofthelargernationwilldecreaseandthatoftheothernationincreases,.,Multiple-choiceQuestions,11.Ifonenationimposesanoptimumtariffandtheothernationdoesnotretaliatea.thewelfareofthefirstnationincreasesandthatofthewelfareofthesecondnationfallsb.thewelfareofthesecondnationincreasesandthatofthewelfareofthesecondnationfallsc.thewelfareofbothnationsfalld.thewelfareofbothnationsincrease,.,Multiple-choiceQuestions,12.Ifonenationimposesanoptimumtariffandtheothernationdoesnotretaliatea.thewelfareofthefirstnationincreasesmorethanthefallinthewelfareofthesecondnationb.thewelfareofthefirstnationincreaseslessthanthefallinthewelfareofthesecondnationc.thewelfareofthesecondnationincreaseslessthanthefallinthewelfareofthefirstnationd.thewelfareofthefirstnationincreasesbythesameamountasthefallinthewelfareofthesecondnation,.,Multiple-choiceQuestions,13.Thenominaltariffisthetariffcalculatedonthea.priceoftheinputusedintheproductionofthecommodityb.priceofthecommodityorservicec.valueaddedd.alloftheabove,.,Multiple-choiceQuestions,14.Tmodityorservicec.valueaddedinthenationd.alloftheabove,.,Multiple-choiceQuestions,15.Ifthenominaltariffonacommodityishigherthanthenominaltariffontheimportedinputusedintheproductionofthecommodity,thentherateofeffectiveprotectionisa.higheronthecommoditythanontheinputb.loweronthecommoditythanontheimportedinputc.equalonthecommodityandontheimportedinputd.anyoftheabove,.,AnswertoProblemsforChapter6,1.a.Animportquotawillincreasethepriceoftheproducttodomesticconsumers,reducethedomesticconsumptionofthegood,increasedomesticproduction,andresultinaprotectionordeadweightlosstotheeconomy.b.Theeffectsofanimportquotaareidenticaltothoseofanequivalentimporttariff,exceptthatwithaquotathegovernme