古典贸易理论答案

1、CHOICE QUESTIONS objected to: The mercantilists would have D ）1.（ （反对）n. （重商主义）a. Export promotion policies initiated by the government 发起）v. （出口促进政策）b. The use of tariffs or quotas to restrict imports 配额）关税）n. （n. c. Trade policies designed to accumulate gold and other precious metals （贵v. 积累）（金属）

2、d. International trade based on open markets（自由市场） （ C ）2. Unlike the mercantilists, Adam Smith maintained that: 主张，坚称）v. （a. Trade benefits one nation only at the expense ofanother nation （在损失的情况下）b. Government control of trade leads to maximum economic welfare最大值的，最大量的）adj. （经济福利） c. All nations c

3、an gain from free international trade d. The worlds output of goods must remain constant over time 不变的）（adj. （ D ）3. The trading principle formulated by Adam Smith maintained （v. 明确表达）主张，坚（v. that: 称）a. International prices are determined from the demand side of the market b. Differences in resource

4、 endowments determine comparative advantage ）（资源禀赋c. Differences in income levels govern world trade patterns d. Absolute cost differences determine the immediate basis for trade （成本差异）（ A ）4. Assume that labor is the only factor of production and that wages in the （生产要素）United States equal $20 per

5、hour while wages in the United Kingdom equal $10 per hour. Production costs would be lower in the United States than the United Kingdom if: a. U.S. labor productivity equaled 40 units per hour while U.K. labor productivity equaled 15 units per hour b. U.S. labor productivity equaled 30 units per hou

6、r while U.K. labor productivity equaled 20 units per hour c. U.S. labor productivity equaled 20 units per hour while U.K. labor productivity equaled 30 units per hour d. U.S. labor productivity equaled 15 units per hour while U.K. labor productivity equaled 25 units per hour （ C ）5. Concerning inter

7、national trade restrictions , which of 限制）（prep. 关于，就而论）n. （ false Trade restrictions: the following isa. Limit specialization and the division of labor （劳动分工）（专业化） b. Reduce the volume of trade and the gains from trade （贸易所得） （贸易量）c. Cause nations to produce inside their production possibilities cu

8、rves （生产可能性曲线） d. May result in a country producing some of the product of its comparative disadvantage （ A ）6. In a two-country, two-product world, the statement “Japan enjoys a comparative advantage over France in steel relative to bicycles” is equivalent to : （相当于）a. France having a comparative a

9、dvantage over Japan in bicycles relative to （比较优势）steel b. France having a comparative disadvantage e over Japan in bicycles relative （比较劣势）to steel c. Japan having a comparative advantage over France in steel and bicycles d. Japan having a comparative disadvantage against Japan in bicycles and stee

10、l （ B ）7. In the absence of trade, a nation is in equilibrium where a community 均衡）（n. indifference curve: ） CIC（社会无差异曲线，a. Lies above its production possibilities curve b. Is tangent to its production possibilities curve （生产可能性曲线，相切的） （adj. 正切的； PPC） c. Intersects its production possibilities curve

11、 相交，交叉）（v. d. Lies below its production possibilities curve （ C ）8. The gains from international trade increase as: a. A nation consumes inside of its production possibilities schedule b. A nation consumes along ts production possibilities schedule i沿着）（prep. c. The international terms of trade rise

12、s above the nations autarky price 自给自足）n. （d. The international terms of trade approaches the nations autarky price 接近，靠近）（v. （ B ）9. “The equilibrium relative commodity price at which trade takes place is determined by the conditions of demand and supply for each commodity in both nations. Other th

13、ings being equal, the nation with the more intense demand for the other 强烈的）adj. （nations exported good will gain less from trade than the nation with the less intense demand.” This statement was first proposed by: 提出）（v. a. Alfred Marshall with offer curve analysis （提供曲线）b. John Stuart Mill with th

14、e theory of reciprocal demand （相互需求理论） c. Adam Smith with the theory of absolute advantage d. David Ricardo with the theory of comparative advantage （ B ）10. Given a two-country and two-product world, the United States would enjoy all the attainable gains from free trade with Canada if it: 可得到的）（adj

15、.a. Trades at the U.S. rate of transformation b. Trades at the Canadian rate of transformation c. Specializes completely in the production of both goods （完全专业化）d. Specializes partially in the production of both goods （部分专业化）（ B ）11. A rise in the price of imports or a fall in the price of exports wi

16、ll: a. Improve the terms of trade ）（贸易条件，TOT（v. 改善）b. Worsen the terms of trade 恶化）（v. c. Expand the production possibilities curve （生产可能性曲线） d. Contract the production possibilities curve 收缩）（v. TRUE-FALSE QUESTIONS （ F ）1. In an open trading system, a country will import those commodities that it

17、produces at relatively low cost while exporting commodities that can be produced at relatively high cost. Correct：import those commodities that it produces at relatively high while exporting commodities that can be produced at relatively high cost （ T ） mercantilists contended that because one natio

18、ns gains from 认为）n. 重商主义者）（v. （trade come at the expense of its trading partners , not all （贸易伙伴） 的情况下）（在损失.nations could simultaneously realize gains from trade. 同时）（adv. （ F ） to the price-specie-flow doctrine , a trade-surplus nation （贸易顺流动学说）-铸币-（价格would experience gold outflows, a decrease in i

19、ts money supply, and a fall in 差国） its price level. Correct： a trade-surplus nation would experience gold inflows, an increase in its money supply, and a rise in its price level. （ F ）4. If a countrys terms of trade worsen , it must exchange fewer exports for 恶化）（v. a given amount of imports. Correc

20、t：If a countrys terms of trade worsen, it must exchange more exports for a given amount of imports. （ F ） principle of absolute advantage asserts that mutually beneficial trade （互认为）（v. can occur even if one nation is absolutely more efficient in the production 利贸易）of all goods. Correct：he principle

21、 of comparative advantage asserts that mutually beneficial trade can occur even if one nation is absolutely more efficient in the production of all goods. T ）that Germany has higher labor productivity and higher wage levels than France. （假设）Germany can produce a commodity more cheaply than France if

22、 its productivity differential more than offsets its wage differential . （工资差异）（v. 抵消）nations illustrated （ F ） price-specie-flow mechanism why one 表明）铸币-流动机制）v. （价格- gains from trade were accompanied by another countrys losses. 伴随）v. （ Correct：The price-specie-flow mechanism illustrated a favorable

23、 trade balance was possible only in the short run, for over time it would automatically be eliminated. （ T ） is possible for a nation not to have an absolute advantage in anything; but it is not possible for one nation to have a comparative advantage in everything and the other nation to have a comp

24、arative advantage in nothing. 一个国家可能在所有商品的生产上都没有绝对优势，但不可能一个国家在任何一种商品的生产上都具有比较优势，而其他国家在所有商品的生产上都处于相对劣势。 （ F ） increasing opportunity costs , a nation totally specializes in （专门从事）（机会成本递增） the production of the commodity of its comparative advantage; With constant opportunity costs , a nation partiall

25、yspecializes inthe （adv. （机会成本不变）部分地） production of the commodity of its comparative advantage. Correct：With constant opportunity costs, a nation totally specializes in the production of the commodity of its comparative advantage; With increasing opportunity costs, a nation partially specializes in

26、the production of the commodity of its comparative advantage. （ T ）10.The mercantilists were also attacked for their static view of the world 重商主义者）（n. economy. To the mercantilists, the worlds wealth was fixed. This meant that one nations gains from trade came at the expense of its trading （在损失的情况下

27、）partners; not all nations could simultaneously enjoy the benefits 同时，一齐）（adv. of international trade （ T ） productivity in the German computer industry grows faster than it does in the Japanese computer industry, the opportunity costof each computer produced in Japan increases relative to the opportunity cost of a computer produced in Germany. （ F ） Smi