国际经济学作业任务答案解析-第八章

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Answer:D

Chapter8TheInstrumentsofTradePolicy

■MultipleChoiceQuestions

Specifictariffsare

importtaxesstatedinspecificlegalstatutes.

importtaxescalculatedasafixedchargeforeachunitofimportedgoods.

importtaxescalculatedasafractionofthevalueoftheimportedgoods.

thesameasimportquotas.

Noneoftheabove.

Answer:B

Advaloremtariffsare

importtaxesstatedinadsinindustrypublications.

importtaxescalculatedasafixedchargeforeachunitofimportedgoods.

importtaxescalculatedasafractionofthevalueoftheimportedgoods.

thesameasimportquotas

Noneoftheabove.

Answer:C

Theexcesssupplycurveofaproductwe(H)importfromforeigncountries(F)increasesas

excessdemandofcountryHincreases.

excessdemandofcountryFincreases.

excesssupplyofcountryHincreases.

excesssupplyofcountryFincreases.

Noneoftheabove.

Ifagoodisimportedinto(large)countryHfromcountryF,thentheimpositionofatariff

incountryH

raisesthepriceofthegoodinbothcountries(the“LawofOnePrice”).

raisesthepriceincountryHandcannotaffectitspriceincountryF.

lowersthepriceofthegoodinbothcountries.

lowersthepriceofthegoodinHandcouldraiseitinF.

raisesthepriceofthegoodinHandlowersitinF.

Answer:E

Ifagoodisimportedinto(small)countryHfromcountryF,thentheimpositionofatariffIncountryH

raisesthepriceofthegoodinbothcountries(the“LawofOnePrice”).

raisesthepriceincountryHanddoesnotaffectitspriceincountryF.

lowersthepriceofthegoodinbothcountries.

lowersthepriceofthegoodinHandcouldraiseitinF.

raisesthepriceofthegoodinHandlowersitinF.

Answer:B

Ifagoodisimportedinto(large)countryHfromcountryF,thentheimpositionofatariffincountryHinthepresenceoftheMetzlerParadox,

raisesthepriceofthegoodinbothcountries(the“LawofOnePrice”).

raisesthepriceincountryHandcannotaffectitspriceincountryF.

lowersthepriceofthegoodinbothcountries.

lowersthepriceofthegoodinHandcouldraiseitinF.

raisesthepriceofthegoodinHandlowersitinF.

Answer:C

Theeffectiverateofprotectionmeasures

the“true”advalorumvalueofatariff.

thequotaequivalentvalueofatariff.

theefficiencywithwhichthetariffiscollectedatthecustomhouse.

theprotectiongivenbythetarifftodomesticvalueadded.

Noneoftheabove.

Answer:D

Ifthetariffoncomputersisnotchanged,butdomesticcomputerproducersshiftfromdomesticallyproducedsemiconductorstoimportedcomponents,thentheeffectiverateofprotectioninthecomputerindustrywill

increase.

decrease

remainthesame.

dependonwhethercomputersarePCsor“Supercomputers.”

Noneoftheabove.

Answer:A

Ifthetariffoncomputersisnotchanged,butthegovernmentthenaddshithertononexistenttariffsonimportedsemi-conductorcomponents,thentheeffectiverateofprotectioninthecomputerindustrywill

increase.

decrease

remainthesame.

dependonwhethercomputersarePCsor“Supercomputers.”

Noneoftheabove.

Answer:B

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Answer:B

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Answer:C

Ifasmallcountryimposesatariff,then

theproducersmustsufferaloss.

theconsumersmustsufferaloss.

thegovernmentrevenuemustsufferaloss.

thedemandcurvemustshifttotheleft.

Noneoftheabove.

Answer:B

Ifalargecountryimposesatariff,then

theproducersmustsufferaloss.

theconsumersmustsufferaloss.

thegovernmentrevenuemustsufferaloss.

thedemandcurvemustshifttotheleft.

Noneoftheabove.

Answer:E

Theimpositionoftariffsonimportsresultsindeadweight(triangle)losses.Theseare

productionandconsumptiondistortioneffects.

redistributioneffects.

revenueeffects

efficiencyeffects.

Noneoftheabove.

Answer:E

SupposetheUnitedStateseliminatesitstariffonballbearingsusedinproducingexports.BallbearingpricesintheUnitedStateswouldbeexpectedto

increase,andtheforeigndemandforU.S.exportswouldincrease.

decrease,andtheforeigndemandforU.S.exportswouldincrease.

increase,andtheforeigndemandforU.S.exportswoulddecrease.

decrease,andtheforeigndemandforU.S.exportswoulddecrease.

Noneoftheabove.

Aspecifictariffprovideshomeproducersmoreprotectionwhen

thehomemarketbuyscheaperproductsratherthanexpensiveproducts.

itisappliedtoacommoditywithmanygradevariations.

thehomedemandforagoodiselasticwithrespecttopricechanges.

itisleviedonmanufacturedgoodsratherthanprimaryproducts.

Noneoftheabove.

Answer:A

Alowertariffonimportedsteelwouldmostlikelybenefit

foreignproducersattheexpenseofdomesticconsumers.

domesticmanufacturersofsteel.

domesticconsumersofsteel.

workersinthesteelindustry.

Noneoftheabove.

Answer:C

Whenagovernmentallowsrawmaterialsandotherintermediateproductstoenteracountrydutyfree,thisgenerallyresultsina(an)

effectivetariffratelessthanthenominaltariffrate.

nominaltariffratelessthantheeffectivetariffrate.

riseinbothnominalandeffectivetariffrates.

fallinbothnominalandeffectivetariffrates.

Noneoftheabove.

Answer:B

Ofthemanyargumentsinfavoroftariffs,theonethathasenjoyedsignificanteconomicjustificationhasbeenthe

cheapforeignlaborargument.

infantindustryargument.

evenplayingfieldargument.

balanceofpaymentsargument

domesticlivingstandardargument.

Answer:B

Themainredistributioneffectofatariffisthetransferofincomefrom

domesticproducerstodomesticbuyers.

domesticbuyerstodomesticproducers.

domesticproducerstodomesticgovernment.

domesticgovernmenttodomesticconsumers.

Noneoftheabove.

Theprinciplebenefitoftariffprotectiongoesto(a)domesticconsumersofthegoodproduced.

foreignconsumersofthegoodproduced.

domesticproducersofthegoodproduced.

foreignproducersofthegoodproduced.

Noneoftheabove.

Answer:C

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Asglobalizationtendstoincreasetheproportionofimportedinputsrelativetodomesticallysuppliedcomponents,

thenominaltariffautomaticallyincreases.

therateof(effective)protectionautomaticallydecreases.

thenominaltariffautomaticallydecreases.

therateof(effective)protectionautomaticallyincreases.

Noneoftheabove.

Answer:D

Whichofthefollowingpoliciespermitsaspecifiedquantityofgoodstobeimportedatonetariffrateandahighertariffratetoimportsabovethisquantity?(a)Importtariff

Voluntaryexportsrestraint

Tariffquota

Advalorumtariff

Noneoftheabove.

Answer:C

Shouldthehomecountrybe“large”relativetoitstradepartners,itsimpositionofatariffonimportswouldleadtoanincreaseindomesticwelfareifthetermsofthetraderectangleexceedthesumofthe

revenueeffectplusredistributioneffect.

protectiveeffectplusrevenueeffect.

consumptioneffectplusredistributioneffect.

protectivedistortioneffectplusconsumptiondistortioneffect.

Noneoftheabove.

Answer:D

Aproblemencounteredwhenimplementingan“infantindustry”tariffisthat(a)domesticconsumerswillpurchasetheforeigngoodregardlessofthetariff.(b)theindustrymaynever“mature.”

mostindustriesrequiretariffprotectionwhentheyaremature.

thetariffmayhurttheindustry’sdomesticsales.

Noneoftheabove.

Answer:B

Whichofthefollowingisafixedpercentageofthevalueofanimportedproduct?

Specifictariff

Advaloremtariff

Nominaltariff

Effectiveprotectiontariff

Noneoftheabove.

Answer:B

Ataxof20centsperunitofimportedgarlicisanexampleofa(n)

specifictariff.

advaloremtariff.

nominaltariff.

effectiveprotectiontariff.

Noneoftheabove.

Answer:A

Ataxof20percentperunitofimportedgarlicisanexampleofa(n)

specifictariff.

advaloremtariff.

nominaltariff.

effectiveprotectiontariff.

Noneoftheabove.

Answer:B

WhichtypeoftariffisforbiddenintheUnitedStatesonConstitutionalgrounds?

Importtariff

Exporttariff

Specifictariff

Prohibitivetariff

Noneoftheabove.

Answer:B

Thedeadweightlossofatariff

isasociallossbecauseitpromotesinefficientuseofnationalresources.

isasociallossbecauseitreducestherevenueofthegovernment.

isnotasociallossbecauseitmerelyredistributesrevenuefromonesectortoanother.

isnotasociallossbacuaseitispaidforbyrichcorporations.

Noneoftheabove.

Answer:A

Tariffsarenotdefendedonthegroundthatthey

improvethetermsoftradeofforeignnations.

protectjobsandreduceunemployment.

promotegrowthanddevelopmentofyoungindustries.

preventover-dependenceofacountryononlyafewindustries.

Noneoftheabove.

Answer:A

Themostvocalpoliticalpressurefortariffsisgenerallymadeby

consumerslobbyingforexporttariffs.

consumerslobbyingforimporttariffs.

consumerslobbyingforlowerimporttariffs.

producerslobbyingforexporttariffs.

producerslobbyingforimporttariffs.

Answer:E

Apolicyoftariffreductioninthecomputerindustryis

intheinterestoftheUnitedStatesasawholeandintheinterestofcomputerproducingregionsofthecountry.

intheinterestofUnitedStatesasawholebutnotintheinterestofcomputerproducingregionsofthecountry.

notintheinterestoftheUnitedStatesasawholebutintheinterestsofcomputerproducingregionsofthecountry.

notintheinterestoftheUnitedStatesasawholeandnotintheinterestsofcomputerconsumers.

Noneoftheabove.

Answer:B

Thefactthatindustrializedcountrieslevyverylowornotariffonrawmaterialsandsemiprocessedgoods

helpsdevelopingcountriesexportmanufacturedproducts.

hasnoeffectondevelopingcountryexports.

hurtsdevelopingcountryeffortstoexportmanufacturedgoods.

hurtsdevelopingcountryeffortstoexportrawmaterials.

Noneoftheabove.

Answer:C

TheMetzlerParadox

explainswhytheUnitedStatesusesbothspecificandadvalorumtariffs.

explainswhytheUnitedStatesusesmanynone-tariffbarrierstoimports.

referstothefactthattheUnitedStatesexportedlabor-intensivegoods.

isnotconsideredtobeofpracticalapplicationintherealworld.

Noneoftheabove.

Answer:D

TheMetzlerParadox

couldtheoreticallyhappenwhenasmallcountryleviesatariff.

referstoa situation when anOptimalTariffhurtsa country’seconomicwelfare.

referstoa situation when theimposition ofatariff lowersdomesticprices.

referstoa situation when theimposition ofatariff helpsforeignexporters.

Noneoftheabove.

Answer:C

AnOptimalTariff

couldtheoreticallyhappenwhenasmallcountryleviesatariff.

referstoasituationwhenatariffhurtsacountry’seconomicwelfare.

referstoasituationwhentheimpositionofatarifflowersdomesticprices.

referstoasituationwhentheimpositionofatariffhelpsforeignexporters.

Noneoftheabove.

Answer:E

AnOptimalTariffisconsideredunlikelytobeobservedintherealworldbecauseof

TheMetzlerParadox.

itispracticallyimpossibletodefineoptimalityintradepolicyterms.

thelikelihoodofforeignrepercussions.

realcountriesareconsideredtobe“small”intheworldtradecontext.

Noneoftheabove.

Answer:C

Inaninflationaryenvironment,thenovertime

Aspecifictariffwilltendtoraisemorerevenuethananadvalorumtariff.

Anadvalorumtariffwilltendtoraisemorerevenuethanaspecifictariff

Anoptimumtariffwilltendtoraisemorerevenuethananescalatingtariff

Atariffquotawilltendtoraisemorerevenuethanaspecifictariff.

Noneoftheabove

Answer:B

Theimpositionoftariffswillhelpanationattainwhichofthefollowinggoals?

Decreaseddomesticconsumerprices

Increaseddomesticemployment

Increasedamountandvarietyofgoodsavailableforconsumers

Increasedcompetitionbetweendomesticandforeignproducers

Noneoftheabove

Answer:E

TariffratesonproductsimportedintotheU.S.

havedroppedsubstantiallyoverthepast50years.

wereprohibitedbytheconstitution

reachedanalltimehighin2002.

haverisensteadilysince1920

Noneoftheabove

Answer:A

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40.WhatisatruestatementconcerningtheimpositionintheU.S.ofatariffonsteel?

Itlowersthepriceofcheesedomestically

Itraisesthepriceofcheeseinternationally

Itraisesrevenueforthegovernment

Itwillalwaysresultinretaliationfromabroad

Noneoftheabove

Answer:C

41.Animportantdifferencebetweentariffsandquotasisthattariffs

raisethepriceofthegood

generatetaxrevenueforthegovernment

stimulateinternationaltrade

helpdomesticproducers

Noneoftheabove

Answer:B

■EssayQuestions

Economictheoryingeneral,andtradetheoryinparticulararerepletewithequivalencies.Forexample,itisarguedthatforanyspecifictariffonecanfindanequivalentadvalorumtariff;andthatforanyquotaonecancalculateatariffequivalent.Discussconditionsorsituationsunderwhichaspecificandanadvalorumtariffarenotequivalent.Discussconditionsorsituationswhenatariffandaquotaarenotequivalent.

Answer:E.g.,duringaperiodofpriceinflation,anadvalorumtariffwouldbecomeincreasinglymoreeffective.Thegovernmentdoesnotreceiveanyofthequotarevenues,unlesstheimportlicensesaresoldorauctioned.

TheMetzlerParadoxisaspecialcaseoftheoptimumtariffconcept.Discussthisassertion.Wouldtheoptimumtarifftendtobeahighoneoralowoneinthecasewherethisparadoxexists?Whatconditionswouldbeneededintheinternationalmarketsforacountry’sexportsforthisparadoxtoexist?Whydoyousupposeempiricalsupportfortheexistenceofthisparadoxhasnotbeenforthcomingtodate?

Answer:TheMetzlerParadoxdescribesanunlikelysituationinwhichtheimpositionofatariffnotonlyimprovesacountry’swelfare,butalsoimprovesthatofitsdomesticconsumers.Ifthisparadoxwerepresentthenthemagnitudeoftheoptimumtariffwouldtendtobelarge,sincethewelfaredecreasingdecreaseinimportsisnotpresentinthiscase(theimportsactuallyincrease,asworldpricesdrasticallydrop).TheMetzlerParadoxcouldoccuronlyiftheforeignoffercurvesareinelastic.Itisnotlikelytobeobservedbecausetradeelasticitiestendtoberelativelylarge.Also,wereittoexist,itsactivationbyalargecountrywouldtendtoevokeforeignretaliation.

Somearguethattariffsalwayshurttheimposingcountry’seconomicwelfare,andaretypicallydesignedtoshiftresourcesfromonesectortoanother,protectedorpreferredone,withinaneconomy.Findanddiscussacounterexampletothisargument.

Answer:Theoptimumtariffistheoreticallyafirst-besttradepolicy.

Theeffectiverateofprotectionisaweightedaverageofnominaltariffsandtariffsonimportedinputs.Ithasbeennotedthatinmostindustrializedcountries,thenominaltariffsonrawmaterialsorintermediatecomponentsorproductsarelowerthanonfinal-stageproductsmeantforfinalmarkets.Whywouldcountriesdesigntheirtariffstructuresinthismanner?Whotendstobehelped,andwhoisharmedbythiscascadingtariffstructure?

Answer:Thecascadingtariffstructureisprobablytheresultofsystematiclobbyingonthepartofmanufacturinginterestsandlobbiestolowercostsofproduction(intermsofimportedinputs).Theendresultisinfacttocreateeffectiveratesofprotectionfordownstream,orfinalmanufacturingprocessesthatareoftenmuchhigherthannominaltariffsontheseproducts.Animportantgroup,whichishurtbythisareexportersofrawmaterialsandcomponentsindevelopingcountries.

ThetwodeadweighttrianglesaretheConsumptiondistortionandProductiondistortionlosses.ItiseasytounderstandwhytheConsumptiondistortionconstitutesalossforsociety.Afterallitraisesthepricesofgoodstoconsumers,andevencausessomeconsumerstodropoutofthemarketaltogether.ItseemsparadoxicalthattheProductiondistortionisconsideredanequivalentburdenonsociety.Afterall,inthiscase,profitsincrease,andadditionalproduction(withitsassociatedemployment)comesonline.Thiswouldseemtobeanoffsetratherthananadditiontotheburdenorlossbornebysociety.ExplainwhytheProductio