国际经济学试题

1、CHAPTER 1THE INTERNATIONAL ECONOMYMULTIPLE-CHOICE QUESTIONS1.A primary reason why nations conduct international trade is because:a.Some nations prefer to produce one thing while others produce other thingsb.Resources are not equally distributed among all trading nationsc.Trade enhances opportunities

2、 to accumulate profitsd.Interest rates are not identical in all trading nations2.A main advantage of specialization results from:a.Economies of large-scale productionb.The specializing country behaving as a monopolyc.Smaller production runs resulting in lower unit costsd.High wages paid to foreign w

3、orkers3.International trade in goods and services is sometimes used as a substitute for all of the following except:a.International movements of capitalb.International movements of laborc.Domestic production of the same goods and servicesd.Domestic production of different goods and services4.If a na

4、tion has an open economy, it means that the nation:a.Allows private ownership of capitalb.Has flexible exchange ratesc.Has fixed exchange ratesd.Conducts trade with other countries5.International trade forces domestic firms to become more competitive in terms of:a.The introduction of new productsb.P

5、roduct design and qualityc.Product priced.All of the above6.The movement to free international trade is most likely to generate short-term unemployment in which industries?a.Industries in which there are neither imports nor exportsb.Import-competing industriesc.Industries that sell to domestic and f

6、oreign buyersd.Industries that sell to only foreign buyers7.International trade is based on the idea that:a.Exports should exceed importsb.Imports should exceed exportsc.Resources are more mobile internationally than are goodsd.Resources are less mobile internationally than are goods8.Arguments for

7、free trade are sometimes disregarded by politicians because:a.Maximizing domestic efficiency is not considered importantb.Maximizing consumer welfare may not be a chief priorityc.There exist sound economic reasons for keeping ones economy isolated from other economiesd.Economists tend to favor highl

8、y protected domestic markets9.How much physical output a worker producers in an hours work depends on:a.The workers motivation and skillb.The technology, plant, and equipment in usec.How easy the product is to manufactured.All of the above10.The largest amount of trade with the United States in rece

9、nt years has been conducted by:a.Canadab.Germanyc.Mexicod.United Kingdom11.Increased foreign competition tends to:a.Intensify inflationary pressures at homeb.Induce falling output per worker-hour for domestic workersc.Place constraints on the wages of domestic workersd.Increase profits of domestic i

10、mport-competing industries12._ is the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms/industries.a.Competitivenessb.Protectionismc.Comparative advantaged.Absolute advantage13

11、.A firms _, relative to that of other firms, is generally regarded as the most important determinant of competitiveness.a.Income levelb.Tastes and preferencesc.Environmental regulationd.Productivity14.Free traders maintain that an open economy is advantageous in that it provides all of the following

12、 except:a.Increased competition for world producersb.A wider selection of products for consumersc.The utilization of the most efficient production methodsd.Relatively high wage levels for all domestic workers15.Recent pressures for protectionism in the United States have been motivated by all of the

13、 following except:a.U.S. firms shipping component production overseasb.High profit levels for American corporationsc.Sluggish rates of productivity growth in the United Statesd.High unemployment rates among American workers16.International trade tends to cause welfare losses to at least some groups

14、in a country:a.The less mobile the countrys resourcesb.The more mobile the countrys resourcesc.The lower the countrys initial living standardd.The higher the countrys initial living standard17.For a nation to maximize its productivity in a global economy:a.Only imports are necessaryb.Only exports ar

15、e necessaryc.Both imports and exports are necessaryd.Neither imports nor exports are necessary18.A feasible effect of international trade is that:a.A monopoly in the home market becomes an oligopoly in the world marketb.An oligopoly in the home market becomes a monopoly in the world marketc.A purely

16、 competitive firm becomes an oligopolistd.A purely competitive firm becomes a monopolist19.International trade in goods and services tends to:a.Increase all domestic costs and pricesb.Keep all domestic costs and prices at the same levelc.Lessen the amount of competition facing home manufacturersd.In

17、crease the amount of competition facing home manufacturers20.The real income of domestic producers and consumers can be increased by:a.Technological progress, but not international tradeb.International trade, but not technological progressc.Technological progress and international traded.Neither tec

18、hnological progress nor international trade21.In the United States, automobiles are:a.Imported, but not exportedb.Exported, but not importedc.Imported and exportedd.Neither exported nor imported22.Technological improvements are similar to international trade since they both:a.Provide benefits for al

19、l producers and consumersb.Increase the nations aggregate incomec.Reduce unemployment for all domestic workersd.Ensure that industries can operate at less than full capacity23.A sudden shift from import tariffs to free trade may induce short-term unemployment in:a.Import-competing industriesb.Indust

20、ries that are only exportersc.Industries that sell domestically as well as exportd.Industries that neither import nor export24.Recent empirical studies indicate that productivity performance in industries is:a.Directly related to globalization of industriesb.Inversely related to globalization of ind

21、ustriesc.Not related to globalization of industriesd.Any of the above25.Empirical research indicates that _ best enhances productivity gains for firms and industries.a.Local competitionb.Regional competitionc.Global competitiond.No competition26.By the mid-1990s, _ banks had become the worlds larges

22、t in terms of total assets.a.Britishb.Germanc.Japanesed.American27.A reduced share of the world export market for the United States would be attributed to:a.Decreased productivity in U.S. manufacturingb.High incomes of American householdsc.Relatively low interest rates in the United Statesd.High lev

23、els of investment by American corporations28.The dominant trading nation in the world market following World War II was:a.United Kingdomb.Germanyc.South Koread.United States29.A closed economy is one in which:a.Imports exactly equal exports, so that trade is balancedb.Domestic firms invest in indust

24、ries overseasc.The home economy is isolated from foreign traded.Saving exactly equals investment at full employment30.Relative to countries with low ratios of exports to gross domestic product, countries having high export to gross domestic product ratios are _ vulnerable to changes in the world mar

25、ket.a.Lessb.Morec.Equallyd.Any of the aboveCHAPTER 2FOUNDATIONS OF MODERN TRADE THEORYMULTIPLE-CHOICE QUESTIONS1.The mercantilists would have objected to:a.Export promotion policies initiated by the governmentb.The use of tariffs or quotas to restrict importsc.Trade policies designed to accumulate g

26、old and other precious metalsd.International trade based on open markets2.Unlike the mercantilists, Adam Smith maintained that:a.Trade benefits one nation only at the expense of another nationb.Government control of trade leads to maximum economic welfarec.All nations can gain from free internationa

27、l traded.The worlds output of goods must remain constant over time3.The trading principle formulated by Adam Smith maintained that:a.International prices are determined from the demand side of the marketb.Differences in resource endowments determine comparative advantagec.Differences in income level

28、s govern world trade patternsd.Absolute cost differences determine the immediate basis for trade4.Unlike Adam Smith, David Ricardos trading principle emphasizes the:a.Demand side of the marketb.Supply side of the marketc.Role of comparative costsd.Role of absolute costs5.When a nation requires fewer

29、 resources than another nation to produce a product, the nation is said to have a (an):a.Absolute advantage in the production of the productb.Comparative advantage in the production of the productc.Lower marginal rate of transformation for the productd.Lower opportunity cost of producing the product

30、6.According to the principle of comparative advantage, specialization and trade increase a nations total output since:a.Resources are directed to their highest productivityb.The output of the nations trading partner declinesc.The nation can produce outside of its production possibilities curved.The

31、problem of unemployment is eliminated7.In a two-product, two-country world, international trade can lead to increases in:a.Consumer welfare only if output of both products is increasedb.Output of both products and consumer welfare in both countriesc.Total production of both products, but not consume

32、r welfare in both countriesd.Consumer welfare in both countries, but not total production of both products8.As a result of international trade, specialization in production tends to be:a.Complete with constant costscomplete with increasing costsb.Complete with constant costsincomplete with increasin

33、g costsc.Incomplete with constant costscomplete with increasing costsd.Incomplete with constant costsincomplete with increasing costs9.A nation that gains from trade will find its consumption point being located:a.Inside its production possibilities curveb.Along its production possibilities curvec.O

34、utside its production possibilities curved.None of the aboveUsing the data of Table 2.1, answer Questions 10 through 15.Table 2.1.Output Possibilities for the U.S. and the U.K.Output per Worker per DayCountryTons of SteelTelevisionsUnited States545United Kingdom102010.Refer to Table 2.1. The United

35、States has the absolute advantage in the production of:a.Steelb.Televisionsc.Both steel and televisionsd.Neither steel nor televisions11.Refer to Table 2.1. The United Kingdom has a comparative advantage in the production of:a.Steelb.Televisionsc.Both steel and televisionsd.Neither steel nor televis

36、ions12.Refer to Table 2.1. If trade opens up between the United States and the United Kingdom, American firms should specialize in producing:a.Steelb.Televisionsc.Both steel and televisionsd.Neither steel nor televisions13.Refer to Table 2.1. The opportunity cost of producing one ton of steel in the

37、 United States is:a.3 televisionsb.10 televisionsc.20 televisionsd.45 televisions14.Refer to Table 2.1. Mutually advantageous trade will occur between the United States and the United Kingdom so long as one ton of steel trades for:a.At least 1 television, but no more than 2 televisionsb.At least 2 t

38、elevisions, but no more than 3 televisionsc.At least 3 televisions, but no more than 4 televisionsd.At least 4 televisions, but no more than 5 televisions15.Refer to Table 2.1. The United Kingdom gains most from trade if:a.1 ton of steel trades for 2 televisionsb.1 ton of steel trades for 3 televisi

39、onsc.2 tons of steel trade for 4 televisionsd.2 tons of steel trade for 5 televisions16.Concerning international trade restrictions, which of the following is false? Trade restrictions:a.Limit specialization and the division of laborb.Reduce the volume of trade and the gains from tradec.Cause nation

40、s to produce inside their production possibilities curvesd.May result in a country producing some of the product of its comparative disadvantage17.If a production possibilities curve is bowed out (i.e., concave) in appearance, production occurs under conditions of:a.Constant opportunity costsb.Incre

41、asing opportunity costsc.Decreasing opportunity costsd.Zero opportunity costs18.Increasing opportunity costs suggest that:a.Resources are not perfectly shiftable between the production of two goodsb.Resources are fully shiftable between the production of two goodsc.A countrys production possibilitie

42、s curve appears as a straight lined.A countrys production possibilities curve is bowed inward (i.e., convex) in appearance19.The trading-triangle concept is used to indicate a nations:a.Exports, marginal rate of transformation, terms of tradeb.Imports, terms of trade, marginal rate of transformation

43、c.Marginal rate of transformation, imports, exportsd.Terms of trade, exports, imports20.Assuming increasing cost conditions, trade between two countries would not be likely if they have:a.Identical demand conditions but different supply conditionsb.Identical supply conditions but different demand co

44、nditionsc.Different supply conditions and different demand conditionsd.Identical demand conditions and identical supply conditionsUse the data in Table 2.2 to answer Questions 21 through 26.Table 2.2.Output Possibilities for South Korea and JapanOutput per Worker per DayCountryTons of SteelVCRsSouth

45、 Korea8040Japan202021.Refer to Table 2.2. The opportunity cost of one VCR in Japan is:a.1 ton of steelb.2 tons of steelc.3 tons of steeld.4 tons of steel22.Refer to Table 2.2. The opportunity cost of one VCR in South Korea is:a. ton of steelb.1 ton of steelc.1 tons of steeld.2 tons of steel23.Refer

46、to Table 2.2. According to the principle of absolute advantage, Japan should:a.Export steelb.Export VCRsc.Export steel and VCRsd.None of the above; there is no basis for gainful trade24.Refer to Table 2.2. According to the principle of comparative advantage:a.South Korea should export steelb.South K

47、orea should export steel and VCRsc.Japan should export steeld.Japan should export steel and VCRs25.Refer to Table 2.2. With international trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each VCR?a. ton of steelb.1 ton of steelc.1

48、tons of steeld.2 tons of steel26.Refer to Table 2.2. With international trade, what would be the maximum number of VCRs that Japan would be willing to export to South Korea in exchange for each ton of steel?a.1 VCRb.2 VCRsc.3 VCRsd.4 VCRs27.The earliest statement of the principle of comparative adva

49、ntage is associated with:a.Adam Smithb.David Ricardoc.Eli Heckscherd.Bertil Ohlin28.If Hong Kong and Taiwan had identical labor costs but were subject to increasing costs of production:a.Trade would depend on differences in demand conditionsb.Trade would depend on economies of large-scale production

50、c.Trade would depend on the use of different currenciesd.There would be no basis for gainful trade29.If the international terms of trade settle at a level that is between each countrys opportunity cost:a.There is no basis for gainful trade for either countryb.Both countries gain from tradec.Only one

51、 country gains from traded.One country gains and the other country loses from trade30.International trade is based on the notion that:a.Different currencies are an obstacle to international tradeb.Goods are more mobile internationally than are resourcesc.Resources are more mobile internationally tha

52、n are goodsd.A countrys exports should always exceed its imports31.Refer to Figure 2.1. The relative cost of steel in terms of aluminum is:a.4.0 tonsb.2.0 tonsc.0.5 tonsd.0.25 tonsFigure 2.1.Production Possibilities Schedule32.Refer to Figure 2.1. The relative cost of aluminum in terms of steel is:a

53、.4.0 tonsb.2.0 tonsc.0.5 tonsd.0.25 tons33.Refer to Figure 2.1. If the relative cost of steel were to rise, then the production possibilities schedule would:a.Become steeperb.Become flatterc.Shift inward in a parallel mannerd.Shift outward in a parallel manner34.Refer to Figure 2.1. If the relative

54、cost of aluminum were to rise, then the production possibilities schedule would:a.Become steeperb.Become flatterc.Shift inward in a parallel mannerd.Shift outward in a parallel manner35.When a nation achieves autarky equilibrium:a.Input price equals final product priceb.Labor productivity equals the

55、 wage ratec.Imports equal exportsd.Production equals consumption36.When a nation is in autarky and maximizes its living standard, its consumption and production points are:a.Along the production possibilities scheduleb.Above the production possibilities schedulec.Beneath the production possibilities

56、 scheduled.Any of the above37.If Canada experiences increasing opportunity costs, its supply schedule of steel will be:a.Downward-slopingb.Upward-slopingc.Horizontald.Vertical38.If Canada experiences constant opportunity costs, its supply schedule of steel will be:a.Downward-slopingb.Upward-slopingc.Horizontald.Vertical39.T