【国际经济学】英文题库 Chapter 1: Introduction

Multiple-Choice Questions

1. Which of the following products are not produced at all in the United States? *A. Coffee, tea, cocoa B. steel, copper, aluminum C. petroleum, coal, natural gas D. typewriters, computers, airplanes

2. International trade is most important to the standard of living of: A. the United States *B. Switzerland C. Germany D. England

3. Over time, the economic interdependence of nations has: *A. grown B. diminished

C. remained unchanged D. cannot say

4. A rough measure of the degree of economic interdependence of a nation is given by:

A. the size of the nations' population B. the percentage of its population to its GDP

*C. the percentage of a nation's imports and exports to its GDP D. all of the above

5. Economic interdependence is greater for: *A. small nations

B. large nations C. developed nations D. developing nations

6. The gravity model of international trade predicts that trade between two nations is larger

A. the larger the two nations B. the closer the nations

C. the more open are the two nations *D. all of the above

7. International economics deals with:

A. the flow of goods, services, and payments among nations

B. policies directed at regulating the flow of goods, services, and payments C. the effects of policies on the welfare of the nation *D. all of the above

8. International trade theory refers to:

*A. the microeconomic aspects of international trade B. the macroeconomic aspects of international trade C. open economy macroeconomics or international finance D. all of the above

9. Which of the following is not the subject matter of international finance? A. foreign exchange markets B. the balance of payments

*C. the basis and the gains from trade

D. policies to adjust balance of payments disequilibria

10. Economic theory:

A. seeks to explain economic events B. seeks to predict economic events

C. abstracts from the many detail that surrounds an economic event *D. all of the above

11. Which of the following is not an assumption generally made in the study of international economics? A. two nations B. two commodities

*C. perfect international mobility of factors D. two factors of production

12. In the study of international economics:

A. international trade policies are examined before the bases for trade B. adjustment policies are discussed before the balance of payments C. the case of many nations is discussed before the two-nations case *D. none of the above

13. International trade is similar to interregional trade in that both must overcome: *A. distance and space B. trade restrictions C. differences in currencies D. differences in monetary systems

14. The opening or expansion of international trade usually affects all members of society: A. positively B. negatively

*C. most positively but some negatively

D. most negatively but some positively

15. An increase in the dollar price of a foreign currency usually: A. benefit U.S. importers *B. benefits U.S. exporters

C. benefit both U.S. importers and U.S. exporters D. harms both U.S. importers and U.S. exporters

16. Which of the following statements with regard to international economics is true? A. It is a relatively new field *B. it is a relatively old field

C. most of its contributors were not economists D. none of the above 思考题：

1. 2. 3.

为什么学习国际经济学非常重要？

列举体现当前国际经济学问题的一些重要事件，它们为什么重要？

当今世界面临的最重要的国家经济问题是什么？全球化的利弊各是什么？

Chapter 2: The Law of Comparative Advantage Multiple-Choice Questions

1. The Mercantilists did not advocate: *A.free trade

B. stimulating the nation's exports C. restricting the nations' imports D. the accumulation of gold by the nation

2. According to Adam Smith, international trade was based on: *A. absolute advantage B. comparative advantage

C. both absolute and comparative advantage

D. neither absolute nor comparative advantage

3. What proportion of international trade is based on absolute advantage? A. All B. most *C. some D. none

4. The commodity in which the nation has the smallest absolute disadvantage is the commodity of its: A. absolute disadvantage B. absolute advantage C. comparative disadvantage *D. comparative advantage

5. If in a two-nation (A and B), two-commodity (X and Y) world, it is established that nation A has a comparative advantage in commodity X, then nation B must have: A. an absolute advantage in commodity Y B. an absolute disadvantage in commodity Y C. a comparative disadvantage in commodity Y *D. a comparative advantage in commodity Y

6. If with one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y (and labor is the only input): A. nation A has a comparative disadvantage in commodity X B. nation B has a comparative disadvantage in commodity Y *C. nation A has a comparative advantage in commodity X D. nation A has a comparative advantage in neither commodity

7. With reference to the statement in Question 6:

A. Px/Py=1 in nation A B. Px/Py=3 in nation B C. Py/Px=1/3 in nation B *D. all of the above

8. With reference to the statement in Question 6, if 3X is exchanged for 3Y: A. nation A gains 2X *B. nation B gains 6Y C. nation A gains 3Y D. nation B gains 3Y

9. With reference to the statement of Question 6, the range of mutually beneficial trade between nation A and B is: A. 3Y < 3X < 5Y B. 5Y < 3X < 9Y *C. 3Y < 3X < 9Y D. 1Y < 3X < 3Y

10. If domestically 3X=3Y in nation A, while 1X=1Y domestically in nation B: A. there will be no trade between the two nations B. the relative price of X is the same in both nations C. the relative price of Y is the same in both nations *D. all of the above

11. Ricardo explained the law of comparative advantage on the basis of: *A. the labor theory of value B. the opportunity cost theory C. the law of diminishing returns D. all of the above

12. Which of the following statements is true?

A. The combined demand for each commodity by the two nations is negatively sloped

B. the combined supply for each commodity by the two nations is rising stepwise C. the equilibrium relative commodity price for each commodity with trade is given by the intersection of the demand and supply of each commodity by the two nations

*D. all of the above

13. A difference in relative commodity prices between two nations can be based upon a difference in: A. factor endowments B. technology C. tastes

*D. all of the above

14. In the trade between a small and a large nation:

A. the large nation is likely to receive all of the gains from trade *B. the small nation is likely to receive all of the gains from trade C. the gains from trade are likely to be equally shared D. we cannot say

15. The Ricardian trade model has been empirically *A. verified B. rejected C. not tested

D. tested but the results were inconclusive 思考题：

比较优势原理所带来的贸易所得是从何而来的？贸易利益又是如何分配的？

现实世界中比较优势是如何度量的？你认为目前中国具有比较优势的商品有哪些？这意味着什么？

比较优势会不会发生变化？什么样的原因可能会导致其变化？ 经济学家是如何验证比较优势原理的？

Chapter 3: The Standard Theory of International Trade Multiple-Choice Questions

1. A production frontier that is concave from the origin indicates that the nation incurs increasing opportunity costs in the production of: A. commodity X only B. commodity Y only *C. both commodities D. neither commodity

2. The marginal rate of transformation (MRT) of X for Y refers to:

A. the amount of Y that a nation must give up to produce each additional unit of X B. the opportunity cost of X

C. the absolute slope of the production frontier at the point of production *D. all of the above

3. Which of the following is not a reason for increasing opportunity costs: *A. technology differs among nations B. factors of production are not homogeneous

C. factors of production are not used in the same fixed proportion in the production of all commodities

D. for the nation to produce more of a commodity, it must use resources that are less and less suited in the production of the commodity

4. Community indifference curves: A. are negatively sloped

B. are convex to the origin C. should not cross *D. all of the above

5. The marginal rate of substitution (MRS) of X for Y in consumption refers to the: A. amount of X that a nation must give up for one extra unit of Y and still remain on the same indifference curve

*B. amount of Y that a nation must give up for one extra unit of X and still remain on the same indifference curve

C. amount of X that a nation must give up for one extra unit of Y to reach a higher indifference curve

D. amount of Y that a nation must give up for one extra unit of X to reach a higher indifference curve

6. Which of the following statements is true with respect to the MRS of X for Y? A. It is given by the absolute slope of the indifference curve B. declines as the nation moves down an indifference curve C. rises as the nation moves up an indifference curve *D. all of the above

7. Which of the following statements about community indifference curves is true? A. They are entirely unrelated to individuals' community indifference curves B. they cross, they cannot be used in the analysis

*C. the problems arising from intersecting community indifference curves can be overcome by the application of the compensation principle D. all of the above.

8. Which of the following is not true for a nation that is in equilibrium in isolation? *A. It consumes inside its production frontier

B. it reaches the highest indifference curve possible with its production frontier C. the indifference curve is tangent to the nation's production frontier

D. MRT of X for Y equals MRS of X for Y, and they are equal to Px/Py

9. If the internal Px/Py is lower in nation 1 than in nation 2 without trade: A. nation 1 has a comparative advantage in commodity Y B. nation 2 has a comparative advantage in commodity X *C. nation 2 has a comparative advantage in commodity Y D. none of the above

10. Nation 1's share of the gains from trade will be greater: A. the greater is nation 1's demand for nation 2's exports *B. the closer Px/Py with trade settles to nation 2's pretrade Px/Py C. the weaker is nation 2's demand for nation 1's exports D. the closer Px/Py with trade settles to nation 1's pretrade Px/Py

11. If Px/Py exceeds the equilibrium relative Px/Py with trade

A. the nation exporting commodity X will want to export more of X than at ium

B. the nation importing commodity X will want to import less of X than at um

C. Px/Py will fall toward the equilibrium Px/Py *D. all of the above

12. With free trade under increasing costs:

A. neither nation will specialize completely in production B. at least one nation will consume above its production frontier C. a small nation will always gain from trade *D. all of the above

13. Which of the following statements is false?

equilibrequilibri A.The gains from trade can be broken down into the gains from exchange and the gains from specialization

B. gains from exchange result even without specialization *C. gains from specialization result even without exchange D. none of the above

14. The gains from exchange with respect to the gains from specialization are always: A. greater B. smaller C. equal

*D. we cannot say without additional information

15. Mutually beneficial trade cannot occur if production frontiers are: A. equal but tastes are not B. different but tastes are the same C. different and tastes are also different *D. the same and tastes are also the same. 思考题：

国际贸易的标准理论与大卫.李嘉图的比较优势原理有何异同？ 两国仅仅由于需求偏好不同可以进行市场分工和狐狸贸易吗？ 两国仅仅由于要素禀赋不同和/或生产技术不同可以进行分工和贸易吗? Chapter 4: Demand and Supply, Offer Curves, and the Terms of Trade Multiple Choice Questions

1. Which of the following statements is correct?

A. The demand for imports is given by the excess demand for the commodity B. the supply of exports is given by the excess supply of the commodity

C. the supply curve of exports is flatter than the total supply curve of the commodity *D. all of the above

2. At a relative commodity price above equilibrium

A. the excess demand for a commodity exceeds the excess supply of the commodity B. the quantity demanded of imports exceeds the quantity supplied of exports *C. the commodity price will fall D. all of the above

3. The offer curve of a nation shows: A. the supply of a nation's imports B. the demand for a nation's exports

C. the trade partner's demand for imports and supply of exports *D. the nation's demand for imports and supply of exports

4. The offer curve of a nation bulges toward the axis measuring the nations A. import commodity *B. export commodity C. export or import commodity D. nontraded commodity

5. Export prices must rise for a nation to increase its exports because the nation: A. incurs increasing opportunity costs in export production

B. faces decreasing opportunity costs in producing import substitutes C. faces decreasing marginal rate of substitution in consumption *D. all of the above

6. Which of the following statements regarding partial equilibrium analysis is false? A. It relies on traditional demand and supply curves B. it isolates for study one market

*C. it can be used to determine the equilibrium relative commodity price but not the equilibrium quantity with trade D. none of the above

7. Which of the following statements regarding partial equilibrium analysis is true? A. The demand and supply curve are derived from the nation's production frontier and indifference map

B. It shows the same basic information as offer curves

C. It shows the same equilibrium relative commodity prices as with offer curves *D. all of the above

8. In what way does partial equilibrium analysis differ from general equilibrium analysis?

A. The former but not the latter can be used to determine the equilibrium price with trade

B. the former but not the latter can be used to determine the equilibrium quantity with trade

C. the former but not the latter takes into consideration the interaction among all markets in the economy

*D. the former gives only an approximation to the answer sought.

9. If the terms of trade of a nation are 1.5 in a two-nation world, those of the trade partner are: A. 3/4 *B. 2/3 C. 3/2 D. 4/3

10. If the terms of trade increase in a two-nation world, those of the trade partner: *A. deteriorate B. improve

C. remain unchanged D. any of the above

11. If a nation does not affect world prices by its trading, its offer curve: A. is a straight line

B. bulges toward the axis measuring the import commodity *C. intersects the straight-line segment of the world's offer curve D. intersects the positively-sloped portion of the world's offer curve

12. If the nation's tastes for its import commodity increases:

A. the nation's offer curve rotates toward the axis measuring its import commodity B. the partner's offer curve rotates toward the axis measuring its import commodity

C. the partner's offer curve rotates toward the axis measuring its export commodity *D. the nation's offer curve rotates toward the axis measuring its export commodity

13. If the nation's tastes for its import commodity increases: A. the nation's terms of trade remain unchanged *B. the nation's terms of trade deteriorate C. the partner's terms of trade deteriorate D. any of the above

14. If the tastes for a nation import commodity increases, trade volume: *A. increases B. declines

C. remains unchanged D. any of the above

15. A deterioration of a nation's terms of trade causes the nation's welfare to:

A. deteriorate B. improve

C. remain unchanged *D. any of the above 思考题：

提供曲线如何推导？有何用途？

两国贸易时的均衡商品价格是如何决定的？受哪些因素影响？

贸易条件的含义是？贸易条件的改善意味着什么？哪些因素可能导致贸易条件的改善？ Chapter 5: Factor Endowments and the Heckscher-Ohlin Theory Multiple-Choice Questions

1. The H-O model extends the classical trade model by: A. explaining the basis for comparative advantage B. examining the effect of trade on factor prices *C. both A and B D. neither A nor B

2. Which is not an assumption of the H-O model: A. the same technology in both nations B. constant returns to scale *C. complete specialization D. equal tastes in both nations

3. With equal technology nations will have equal K/L in production if: *A. factor prices are the same B. tastes are the same

C. production functions are the same D. all of the above

4. We say that commodity Y is K-intensive with respect to X when: A. more K is used in the production of Y than X B. less L is used in the production of Y than X

*C. a lower L/K ratio is used in the production of Y than X D. a higher K/L is used in the production of X than Y

5. When w/r falls, L/K

A. falls in the production of both commodities *B. rises in the production of both commodities C. can rise or fall D. is not affected

6. A nation is said to have a relative abundance of K if it has a: A. greater absolute amount of K B. smaller absolute amount of L C. higher L/K ratio *D. lower r/w

7. A difference in relative commodity prices between nations can be based on a difference in: A. technology B. factor endowments C. tastes

*D. all of the above

8. In the H-O model, international trade is based mostly on a difference in: A. technology

*B. factor endowments C. economies of scale D. tastes

9. According to the H-O model, trade reduces international differences in: A. relative but not absolute factor prices B. absolute but not relative factor prices *C. both relative and absolute factor prices D. neither relative nor absolute factor prices

10. According to the H-O model, international trade will: A. reduce international differences in per capita incomes B. increases international differences in per capita incomes

*C. may increase or reduce international differences in per capita incomes D. lead to complete specialization

11. The H-O model is a general equilibrium model because it deals with: A. production in both nations B. consumption in both nations C. trade between the two nations *D. all of the above

12. The H-O model is a simplification of the a truly general equilibrium model because it deals with: A. two nations B. two commodities C. two factors of production *D. all of the above

13. The Leontief paradox refers to the empirical finding that U.S. *A. import substitutes are more K-intensive than exports B. imports are more K-intensive than exports C. exports are more L-intensive than imports

D. exports are more K-intensive than import substitutes

14. From empirical studies, we conclude that the H-O theory: A. must be rejected

B. must be accepted without reservations *C. can be accepted while awaiting further testing D. explains all international trade

15. For factor reversal to occur, two commodities must be produced with: *A. sufficiently different elasticity of substitution of factors B. the same K/L ratio

C. technologically-fixed factor proportions D. equal elasticity of substitution of factors 思考题：

H-O理论有哪些假设？各假设的含义是什么？为什么要做出这些假设？ 如何检验H-O理论的正确性？

H-O-S定理的假设条件又是什么？他与生产要素国际间的流动有何关系？ 如何检验H-O-S定理在现实中的可靠性？

Chapter 6: Economies of Scale, Imperfect Competition, and International Trade

Multiple-Choice Questions:

1. Relaxing the assumptions on which the Heckscher-Ohlin theory rests: A. leads to rejection of the theory B. leaves the theory unaffected

*C. requires complementary trade theories D. any of the above.

Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, leave

the theory unaffected?

A. Two nations, two commodities, and two factors B. both nations use the same technology

C. the same commodity is L-intensive in both nations *D. all of the above

Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, require new trade theories?

*A. Economies of scale B. incomplete specialization C. similar tastes in both nations D. the existence of transportation costs

International trade can be based on economies of scale even if both nations have identical:

A. factor endowments B. tastes C. technology *D. all of the above

5. A great deal of international trade: A. is intra-industry trade B. involves differentiated products C. is based on monopolistic competition

*D. all of the above

6. The Heckscher-Ohlin and new trade theories explains most of the trade: A. among industrial countries

B. between developed and developing countries C. in industrial goods *D. all of the above

The theory that a nation exports those products for which a large domestic market exists

was advanced by: *A. Linder B. Vernon C. Leontief D. Ohlin

8. Intra-industry trade takes place: A. because products are homogeneous

*B. in order to take advantage of economies of scale

C. because perfect competition is the prevalent form of market organization D. all of the above

If a nation exports twice as much of a differentiated product that it imports, its intra- industry (T) index is equal to: A. 1.00 B. 0.75 *C. 0.50 D. 0.25

10. Trade based on technological gaps is closely related to: A. the H-O theory

*B. the product-cycle theory C. Linder's theory D. all of the above

11. Which of the following statements is true with regard to the product-cycle theory?

A. It depends on differences in technological changes over time among countries B. it depends on the opening and the closing of technological gaps among countries C. it postulates that industrial countries export more advanced products to less advanced countries *D. all of the above

12. Transport costs:

A. increase the price in the importing country B. reduces the price in the exporting country *C. both of the above D. neither A nor B.

13. Transport costs can be analyzed: A. with demand and supply curves B. production frontiers C. offer curves *D. all of the above

14. The share of transport costs will fall less heavily on the nation: *A. with the more elastic demand and supply of the traded commodity B. with the less elastic demand and supply of the traded commodity C. exporting agricultural products

D. with the largest domestic market

15. A footloose industry is one in which the product: A. gains weight in processing B. loses weight in processing C. both of the above *D. neither A nor B. 思考题：

本章的贸易理论与基于比较优势的贸易理论有哪些不同？这两类贸易理论是互相排斥的吗？

H-O理论与心贸易理论之间有什么经验关联？运输成本对H-O定理和H-O-S定理有何影响？

不同的环保标准时如何影响产业选址及国际贸易的？

2009年底联合国哥本哈根气候大会中的议题与国际贸易有何关系？这对我国经贸发展有何影响？

Chapter 7: Economic Growth and International Trade Multiple-Choice Questions

1. Dynamic factors in trade theory refer to changes in: A. factor endowments B. technology C. tastes

*D. all of the above

2. Doubling the amount of L and K under constant returns to scale: A. doubles the output of the L-intensive commodity B. doubles the output of the K-intensive commodity C. leaves the shape of the production frontier unchanged *D. all of the above.

3. Doubling only the amount of L available under constant returns to scale: A. less than doubles the output of the L-intensive commodity *B. more than doubles the output of the L-intensive commodity C. doubles the output of the K-intensive commodity

D. leaves the output of the K-intensive commodity unchanged

4. The Rybczynski theorem postulates that doubling L at constant relative commodity prices:

A. doubles the output of the L-intensive commodity *B. reduces the output of the K-intensive commodity C. increases the output of both commodities D. any of the above

5. Doubling L is likely to:

A. increases the relative price of the L-intensive commodity B. reduces the relative price of the K-intensive commodity *C. reduces the relative price of the L-intensive commodity D. any of the above

Technical progress that increases the productivity of L proportionately more than the productivity of K is called: *A. capital saving B. labor saving C. neutral

D. any of the above

7. A 50 percent productivity increase in the production of commodity Y: A. increases the output of commodity Y by 50 percent B. does not affect the output of X

C. shifts the production frontier in the Y direction only *D. any of the above

8. Doubling L with trade in a small L-abundant nation: *A. reduces the nation's social welfare B. reduces the nation's terms of trade C. reduces the volume of trade D. all of the above

9. Doubling L with trade in a large L-abundant nation: A. reduces the nation's social welfare B. reduces the nation's terms of trade C. reduces the volume of trade *D. all of the above

If, at unchanged terms of trade, a nation wants to trade more after growth, then the nation's terms of trade can be expected to: *A. deteriorate B. improve

C. remain unchanged D. any of the above

A proportionately greater increase in the nation's supply of labor than of capital is likely

to result in a deterioration in the nation's terms of trade if the nation exports: A. the K-intensive commodity *B. the L-intensive commodity C. either commodity D. both commodities

12. Technical progress in the nation's export commodity: *A. may reduce the nation's welfare B. will reduce the nation's welfare C. will increase the nation's welfare D. leaves the nation's welfare unchanged

13. Doubling K with trade in a large L-abundant nation: A. increases the nation's welfare B. improves the nation's terms of trade C. reduces the volume of trade *D. all of the above

14. An increase in tastes for the import commodity in both nations: A. reduces the volume of trade *B. increases the volume of trade C. leaves the volume of trade unchanged D. any of the above

15. An increase in tastes of the import commodity of Nation A and export in B: *A. will reduce the terms of trade of Nation A B. will increase the terms of trade of Nation A C. will reduce the terms of trade of Nation B D. any of the above 思考题：

要素积累和技术进步如何影响一国的生产可能性曲线的形状和位置？

何种类型的经济增长最可恩能够导致国家福利的下降？那种类型的经济增长最可能导致国家福利的改善？

Chapter 8: Trade Restrictions: Tariffs Multiple-choice Questions

1. Which of the following statements is incorrect?

A. An ad valorem tariff is expressed as a percentage of the value of the traded commodity

B. A specific tariff is expressed as a fixed sum of the value of the traded commodity. C. Export tariffs are prohibited by the U.S. Constitution *D. The U.S. uses exclusively the specific tariff

2. A small nation is one:

A. which does not affect world price by its trading

B. which faces an infinitely elastic world supply curve for its import commodity C. whose consumers will pay a price that exceeds the world price by the amount of the tariff

*D. all of the above

3. If a small nation increases the tariff on its import commodity, its: A. consumption of the commodity increases B. production of the commodity decreases C. imports of the commodity increase *D. none of the above

The increase in producer surplus when a small nation imposes a tariff is measured by the area:

*A. to the left of the supply curve between the commodity price with and without the tariff

B. under the supply curve between the quantity produced with and without the tariff C. under the demand curve between the commodity price with and without the tariff D. none of the above.

5. If a small nation increases the tariff on its import commodity: *A. the rent of domestic producers of the commodity increases B. the protection cost of the tariff decreases C. the deadweight loss decreases D. all of the above

6. Which of the following statements is incorrect with respect to the rate of effective protection?

A. for given values of ai and ti, g is larger the greater is t B. for a given value of t and ti, g is larger the greater is ai

C. g exceeds, is equal to or is smaller than t, as ti is smaller than, is equal to or is larger than t

*D. when aiti exceeds t, the rate of effective protection is positive

7. With ai=50%, ti=0, and t=20%, g is: *A. 40% B. 20% C. 80% D. 0

8. The imposition of an import tariff by a small nation:

*A. increases the relative price of the import commodity for domestic producers and consumers

B. reduces the relative price of the import commodity for domestic producers and consumers

C. increases the relative price of the import commodity for the nation as a whole D. any of the above is possible

9. The imposition of an import tariff by a small nation: A. increases the nation's welfare

*B. reduces the nation's welfare C. leaves the nation's welfare unchanged D. any of the above is possible

10. According to the Stolper-Samuelson theorem, the imposition of a tariff by a nation:

A. increases the real return of the nation's abundant factor *B. increases the real return of the nation's scarce factor C. reduces the real return of the nation's scarce factor D. any of the above is possible

11. The imposition of an import tariff by a nation results in: A. an increase in relative price of the nation's import commodity B. an increase in the nation's production of its importable commodity C. reduces the real return of the nation's abundant factor *D. all of the above

12. The imposition of an import tariff by a nation can be represented by a rotation of the:

*A. nation's offer curve away from the axis measuring the commodity of its comparative advantage

B. the nation's offer curve toward the axis measuring the commodity of its comparative advantage

C. the other nation's offer curve toward the axis measuring the commodity of its comparative advantage

D. the other nation's offer curve away from the axis measuring the commodity of its comparative advantage

13. The imposition of an import tariff by a large nation: A. increases the nation's terms of trade B. reduces the volume of trade

C. may increase or reduce the nation's welfare *D. all of the above

14. The imposition of an optimum tariff by a large nation: A. improves its terms of trade B. reduces the volume of trade C. increases the nation's welfare *D. all of the above

15. The optimum tariff for a small nation is: A. 100% B. 50%

*C. 0 D. depends on elasticities 思考题：

大国和小国征收进口关税的经济效应有何不同？ 有效保护率的含义是什么？它与名义保护率有何关系？

结合世贸组织网址上有关各成员国的关税数据，分析目前各国的关税结构呈现什么特征？为什么会呈现这些特征？

Chapter 9: Nontariff Trade Barriers and the New Protectionism Multiple-choice Questions: 1. An import quota:

A. increases the domestic price of the imported commodity B. reduces domestic consumption C. increases domestic production *D. all of the above

2. An increase in the demand of the imported commodity subject to a given import quota:

A. reduces the domestic quantity demanded of the commodity *B. increases the domestic production of the commodity C. reduces the domestic price of the commodity D. reduces the producers' surplus

3. Adjustment to any shift in the domestic demand or supply of an importable commodity occurs:

A. in domestic price with an import quota B. in the quantity of imports with a tariff

C. through the market mechanism with an import tariff but not with an import quota

*D. all of the above

4. An international cartel refers to: A. dumping

*B. an organization of exporters C. an international commodity agreement D. voluntary export restraints

5. The temporary sale of a commodity at below cost or at a lower price abroad in order to drive foreign producers out of business is called: *A. predatory dumping B. sporadic dumping C. continuous dumping D. voluntary export restraints

6. The type of dumping which would justify antidumping measures by the country subject to the dumping is: *A. predatory dumping

B. sporadic dumping C. continuous dumping D. all of the above

7. A fallacious argument for protection is: A. the infant industry argument B. protection for national defense *C. the scientific tariff

D. to correct domestic distortions

8. Which of the following is true with respect to the infant-industry argument for protection:

A. it refers to temporary protection to establish a domestic industry

B. to be valid, the return to the grown-up industry must be sufficiently high also to repay for the higher prices paid by domestic consumers of the commodity during the infancy period

C. is inferior to an equivalent production subsidy to the infant industry *D. all of the above

9. Which of the following is false with respect to strategic trade policy? A. it postulates that a nation can gain by an activist trade policy *B. it is practiced to some extent by most industrial nations C. it can easily be carried out D. all of the above

10. Industrial policy refers to:

A. an activist policy by the government of an industrial country to stimulate the development of an industry

B. the granting of a subsidy to a domestic industry to stimulate the development of an industry

C. the granting of a subsidy to a domestic industry to counter a foreign subsidy

*D. all of the above

11. Game theory refers to:

*A. a method of choosing the optimal strategy in conflict situations B. the granting of a subsidy to correct a domestic distortion C. the theory of tariff protection D. none of the above

12. Trade protection in the United States is usually provided to: A. low-wage workers

B. well-organized industries with large employment C. industries producing consumer products *D. all of the above

13. The most-favored-nation principle refers to:

*A. extension to all trade partners of any reciprocal tariff reduction negotiated by the U.S. with any of its trade partners B. multilateral trade negotiation

C. the General Agreement on Tariffs and Trade D. the International Trade Organization

14. On which of the following principles does GATT rest? A. nondiscrimination

B. elimination of nontariff barriers

C. consultation among nations in solving trade disputes *D. all of the above

15. Which of the following was not negotiated under the Uruguay Round? A. reduction of tariffs on industrial goods

B. replacement of quotas with tariffs

C. reduction of subsidies on industrial products and on agricultural exports *D. liberalization in trade in most services 思考题：

进口关税和进口配额的经济效应有何不同？

为什么说WTO允许采用的贸易救济措施，如“两反两保”也是贸易保护主义行为？ 我国为什么是全球反倾销的最大受害国？如何应对？

我国面临的反补贴措施的最近情况如何？对我国有何影响？如何应对？ Chapter 10: Economic Integration: Customs Unions and Free Trade Areas Multiple-choice Questions:

1. Which of the following statements is correct?

*A. In a customs union, member nations apply a uniform external tariff

B. in a free-trade area, member nations harmonize their monetary and fiscal policies C. within a customs union there is unrestricted factor movement

D. a customs union is a higher form of economic integration than a common market

2. A customs union that allows for the free movement of labor and capital among its member nations is called a: A. preferential trade arrangement B. free-trade area *C. common market D. all of the above

3. A trade-creating customs union is one where:

A. lower-cost imports from outside the customs union are replaced by higher-cost imports from a union member

*B. some domestic production in a member nation is replaced by lower-cost imports from another member nation

C. trade among members increases but trade with nonmembers decreases

D. trade among members decreases while trade with nonmembers increases

4. A trade-diverting customs union:

A. increases trade among union members and with nonmember nations B. reduces trade among union members and with nonmember nations *C. increases trade among members but reduces trade with non-members D. reduces trade among union members but increases it with nonmembers

5. A trade-diverting customs union results in: A. trade diversion only B. trade creation only

*C. both trade creation and trade diversion D. we cannot say

6. The formation of a trade-creating customs union where all economic resources of member

nations are fully employed before and after the formation of the customs union leads to an:

*A. increase in the welfare of member and nonmember nations B. increase in the welfare of member nations only C. increase in the welfare of nonmember nations only

D. increase or decrease in the welfare of member and nonmember nations

7. A trade-diverting customs union:

A. increases the welfare of member and nonmember nations B. reduces the welfare of member and nonmember nations

C. increases the welfare of member nations but reduces that of nonmembers *D. reduces the welfare of nonmembers and may increase or reduce that of members

8. A trade-diverting customs union is more likely to lead to trade creation: A. the lower are the pre-union trade barriers of the member countries

*B. the lower are the customs union's barriers on trade with the rest of the world C. the smaller is the number of countries forming the customs union and the smaller their size

D. the more complementary rather than competitive are the economies of the nations forming the customs union

9. The theory of customs union is a special case of the theory of: A. effective protection *B. the second best C. the product cycle D. comparative advantage

10. Which is not a dynamic benefit from the formation of a customs union? A. increased competition B. economies of scale C. stimulus to investment *D. trade creation

11. The formation of the EU resulted in:

A. trade creation in industrial and agricultural products B. trade diversion in industrial and agricultural products

*C. trade creation in industrial products and trade diversion in agricultural products D. trade diversion in industrial products and trade creation in agricultural products

12. The benefit that the United States is likely to receive from NAFTA: *A. increasing competition in product and resource markets B. greater technical innovation C. improvements in its terms of trade

D. all of the above

13. The benefit that Mexico is likely to receive from NAFTA: A. greater export-led growth

B. encouraging the return of flight capital C. more rapid structural change *D. all of the above

14. Which is a stumbling block to successful economic integration among groups of developing nations?

A. benefits are not evenly distributed among nations

B. many developing nations are not willing to relinquish part of their newly-acquired sovereignty to a supranational community body, as required for successful economic integration

C. the complementary nature of their economies and competition for the same world markets for their agricultural exports *D. all of the above

15. The formation of a free trade area among the countries of Eastern Europe is advocated in order to: A. restore trade trading

*B. retain the traditional trade links that can be justified on market principles C. reduce the need for structural change D. none of the above 思考题：

建立关税同盟对成员国和非成员国有何短期和长期影响？

为什么我国一方面积极加入WTO,另一方面也积极参加各种区域一体化组织？这两种类型的一体化关系如何？

为什么关税同盟理论是次优理论的一个例子？

在什么情况下关税同盟的形成更可能导致贸易创造和增加福利？ Chapter 11: International Trade and Economic Development Multiple-choice Question:

1. According to traditional trade theory, a developing nation should export the commodity:

A. of its comparative advantage

B. that it can produce relatively more efficiently C. intensive in the nation's relatively abundant factor *D. all of the above

2. Which of the following is false with respect to traditional trade theory? A. it can incorporate changes in factor endowments and technology B. it leads to the best allocation of resources at any point in time *C. it is a dynamic theory

D. it is based on comparative advantage

3. According to Nurkse, international trade was an engine of growth for: *A. the regions of recent settlements during the 19th century B. regions of recent settlements during the 20th century C. developed nations during the 19th century D. developed nations during the 20th century

4. Trade cannot be an engine of growth for today’s developing nations because: A. the income elasticity for many their exports is less than 1 B. the development of synthetic substitutes

C. technical advances reduced the raw-material content of many products *D. all of the above

5. If the price of a nation’s exports and imports both rise, the nation’s commodity terms of trade:

A. improve B. deteriorate C. remain unchanged *D. any of the above

6. The nation’s commodity terms of trade times the productivity index in its export sector gives the nation’s: A. income terms of trade B. double factoral terms of trade *C. single factoral terms of trade D. barter terms of trade

7. When a nation’s commodity terms of trade deteriorate and its single factoral terms of trade improve, the nation’s welfare: A. falls *B. rises

C. remains unchanged D. any of the above

8. Developing nations often experience wildly fluctuating export prices for their primary products because of:

A. inelastic and stable demand and supply B. elastic and unstable demand and supply *C. inelastic and unstable demand and supply D. elastic and stable demand and supply

9. MacBean found that the export instability faced by developing nations was: *A. not very large and did not seriously interface with development B. very large and seriously interfered with development C. very large but did not seriously interfere with development

D. not very large but seriously interfered with development

10. Supporting the price of a commodity by buying it when its price is low is: *A. a buffer stock B. a purchase contract C. an export control D. a marketing board

11. The policy of import substitution was most vigorously followed by: A. large developing nations during the 1970’s *B. large developing nations during the 1960’s C. small developing nations during the 1970’s D. small developing nations during the 1960’s

12. What is the advantage of a policy of import substitution?

A. setting up an industry to replace imports minimizes risk of failure because the market for the product already exists in the nation as evidenced by the nation’s imports of the commodity

B. It is easier for developing nations to protect their domestic market against foreign competition than to force developed nations to lower their trade barriers against their manufactured exports

C. foreign firms are induced to establish tariff factories to overcome the tariff wall of developing nations *D. all of the above

13. Which are is not an advantage of export-oriented industrialization? A. It overcomes the smallness of the domestic market and allows developing nations to take advantages of economies of scale

*B. domestic industries grow accustomed to protection and have an incentive to become more efficient

C. production of manufactured goods for export requires and stimulates efficiency throughout the economy

D. the expansion of manufactured exports is not limited by the size of the domestic market

14. Those nations that liberalized trade during the past decade *A. grew faster than that did not

B. grew more slowly than those that did not C. grew at about the same rate as those that did not D. any of the above

15. Which of the following is not part of the demand for a NIEO? A. the establishment of international commodity agreements

*B. preferential access for the manufactured exports of developed nations C. removal of the agricultural trade barriers in developed nations D. increasing the yearly flow of foreign aid to developing nations

Chapter 12: International Resource Movementsand Multinational Corporations Multiple-choice Question:

1. Portfolio investments refer primarily to: A. direct investments *B. bonds C. liquid assets D. short-term assets

2. Direct investments usually involve the transfer of: A. capital B. technology C. management *D. all of the above

3. Which of the following is not true with regard to direct investments?

A. U.S. direct investments abroad and foreign direct investment in the U.S. grew very rapidly from 1950 to 2001

B. The amount of U.S. direct investments abroad is similar to the amount of foreign direct investments in U.S.

*C. U.S. direct investments in Canada are higher than in Europe

D. U.S. Private holding of foreign long-term securities grew very rapidly from 1950 to 2001

4. Two-way international capital flows can be explained by the desire to: A. earn higher yields abroad B. avoid tariffs *C. diversify risks D. all of the above

5. Portfolio theory tells us that by investing in securities with yields that are inversely related over time:

A. a given yield can be obtained at a smaller risk B. a high yield can be obtained for the same level of risk

C. a two-way capital flow may be required achieve a balanced portfolio *D. all of the above

6. The reason the residents of nation do not borrow from other nations and themselves undertake real investments in their own nation is that:

*A. multinationals want to retain control over their own technology B. banks do not want to lend to foreigners C. vertical integration is not possible for foreigners D. multinationals want to avoid horizontal integration

7. Which is not a reason for private foreign direct investment? A. horizontal and vertical integration B. to maximize profits and diversify risks *C. to stimulate development D. to avoid tariffs

8. Which of the following is not a beneficial effect of direct investments on the investing country?

*A. the transfer of technology B. higher profits C. risk diversification

D. avoids the possible loss of export markets

9. Foreign direct investment benefits the host nation because it: A. increases the K/L ration

B. increases the productivity of labor C. increases per capita income *D. all of the above

10. U.S. labor generally

*A. opposes U.S. investments abroad B. favor U.S. investments abroad

C. is indifferent to U.S. investments abroad D. we cannot say without additional information

11.Labor in developing countries generally

A. opposes an inflow of foreign direct investment from abroad *B. favor an inflow of foreign direct investment from abroad C. is indifferent to foreign direct investment from abroad

D. we cannot say without additional information

12. Owners of capital in developing countries generally *A. opposes an inflow of foreign direct investment from abroad B. favor an inflow of foreign direct investment from abroad C. are indifferent to foreign direct investment from abroad D. we cannot say without additional information

13.The basic reason for the existence of MNC is the:

*A. competitive advantage of a global network of production and distribution B. incentives provided by the investing nation C. incentives provided by the host nation D. imperfections of international capital markets

14.Transfer pricing refers to: A. risk diversification

B. the pricing of the technology transferred

*C. the artificial overpricing of components shipped to an affiliate in a higher tax nation

D. portfolio theory

15. The brain drain refers to transfer of:

A. technology from developed to developing nations

B. skilled labor and professionals from developed to developing nations C. unskilled labor from developing to developed nations

*D. skilled labor and professionals from less advanced to more advanced nations Chapter 13: The Balance of Payments Multiple-choice Questions: 1. Which of the following is false?

A. A credit transaction leads to a payment from foreigners B. A debit transaction leads to a payment to foreigners *C. A credit transaction is entered with a negative sign

D. Double-entry bookkeeping refers to each transaction entered twice.

2. Which of the following is a debit? A. The export of goods B. The export of services

*C. Unilateral transfers given to foreigners D. Capital inflows

3. Capital inflows:

A. refer to an increase in foreign assets in the nation B. refer to a reduction in the nation's assets abroad C. lead to a payment from foreigners *D. all of the above

4. When a U.S. firm imports goods to be paid in three months the U.S. credits: A. the current account B. unilateral transfers *C. capital D. official reserves

5. The receipt of an interest payment on a loan made by a U.S. commercial bank to a foreign resident is entered in the U.S. balance of payments as a: A. credit in the capital account *B. credit in the current account C. credit in official reserves D. debit in unilateral transfers

6. The payment of a dividend by an American company to a foreign stockholder represents:

A. a debit in the U.S. capital account B. a credit in the U.S. capital account C. a credit in the U.S. official reserve account *D. a debit in the U.S. current account

7. When a U.S. firm imports a good from England a pays for it by drawing on its pound

sterling balances in a London Bank, the U.S. debits its current account and credits its:

A. official reserve account B. unilateral transfers account C. services in its current account *D. capital account

8. When the U.S. ships food aid to a developing nation, the U.S. debits: *A. unilateral transfers B. services C. capital D. official reserves

9. When the resident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds in a U.S. bank, the U.S.:

A. credits capital for (1) and debits capital for (2) B. credits the current account and debits capital C. debits capital and credits official reserves *D. debits capital for (1) and credits capital for (2)

10. When a U.S. resident (1) purchases foreign treasury bills and pays by (2) drawing down his bank balances abroad, the U.S.:

A. debits short-term capital and credits official reserves *B. debits capital for (1) and credits capital for (2) C. debits official reserves and credits capital

D. credits short-term capital and debits official reserves

11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New York bank represents a: A. capital inflow *B. capital outflow

C. outflow of official reserves D. debit in the current account

12. Which is not an official reserve asset of the U.S.? A. U.S. holdings of Special Drawing Rights

B. The U.S. reserve position in the International Monetary Fund *C. Foreign official holdings of U.S. dollars

D. Official holdings of foreign currencies by U.S. monetary authorities

13. The capital account of the U.S. includes:

A. the change in U.S. assets abroad and foreign assets in the U.S.

*B. the change in U.S. assets abroad and foreign assets in the U.S., other than official reserve assets C. all financial assets

D. all but current account transactions

14. Accommodating items are: A. transactions in official reserve assets B. the items below the line

C. needed to balance international transactions *D. all of the above

15. Which of the following is false?

*A. a net debit balance in the current and capital accounts measures the surplus in the nation's balance of payments

B. a balance of payments deficit must be settled by a net credit in the official reserve account

C. a deficit in the balance of payments can be measured by the excess of credits over debits in the official reserve account

D. a net debit balance in the official reserve account refers to a surplus