国际贸易 （英）(江西财经大学) 中国大学mooc慕课答案2024版 m337909

01 World Trade： an Overview

1、 Trade includes_and_, contribute much to economic globalization, especially to world economic growth.

答案: export,import.

2、 In Nov. 2018, Chinese government started to have China International Import Expo,______.

答案: which is the first expo on the world that aims to encourage import.

3、 Nowadays members of WTO also pay more attention on service trade compared with before. Because_____.

答案: the issues of service trade usually combined with investment,which is important for world economic growth.

4、 Developing countries are becoming more important in world trade,__.

答案: because the share of developing countries in world merchandise exports has increased obviously.

5、 Why the three European Giants, Germany, U.K. and France usually have closer trade relationship with USA?

答案: Because of the economic size.

6、 According to the gravity model, a characteristic that tends to affect the probability of trade existing between any two countries is______.

答案: the distance between them.

7、 Which of following is NOT the factor affectting trade pattern?

答案: physics

8、 When world merchandise trade developed robust,______.

答案: the performance of world real GDP growth rate generally is also good.

9、 For the consumers, trade especially import is very important,NOT because_____.

答案: they can have more money to buy various products.

10、 Relying too much on trade,that’s to say, trade dependency or trade openness is too high,which is not very good for one country.Which of following is NOT ture?

答案: China’s trade dependency is very slow.

11、 _____still the most important content of world trade.

答案: Manufactured goods

12、 The change range of the value of world merchandise trade usually larger than the volume one. Why?

答案: The key reason is that the price of commodity has big influence on the trend of world trade development.

13、 Usually, when world economy is hot, world trade volume will _, at the same time the commodity price also will ___, so the value of world trade will expand more.

答案: expand,rise

14、 Which of the following is most likely among the key topic list of G20 summit?

答案: How to deal with the fluctuation of commodity prices.

15、 The traditional calculation usually misleads the understanding about global trade relationship. TiVA addresses this issue by _.

答案: considering the value added by each country in the production of goods and services that are consumed worldwide.

02 Classical Trade Theory 02 Classical Trade Theory

1、 In the Mercantilist view of international trade (in a two-country world),_____.

答案: one country’s gain from trade was associated with a loss for the other country.

2、 In the price-specie-flow doctrine, a deficit country will _ gold, and this gold flow will ultimately lead to _ in the deficit country’s exports.

答案: lose;  an increase

3、 Which of the following policies would NOT be consistent with the Mercantilist balance-of-trade doctrine?

答案: payment of high wages to labor

4、 Referring to the following Table, the opportunity cost of one VCR in Japan is:Table: Output possibilities for South Korea and Japan      Output per worker per dayCountry           Tons of steel   VCRsSouth Korea   80                   40Japan           20                   20     

答案: 1 ton of steel

5、  Refer to the following table, according to the principle of absolute advantage, Japan should:Table: Output possibilities for South Korea and Japan Output per worker per dayCountry          Tons of steel    VCRsSouth Korea       80             40Japan               20             20    

答案: None of the above; there is no basis for gainful trade

6、 Refer to the following table, according to the principle of comparative advantage,Table: Output possibilities for South Korea and Japan Output per worker per dayCountry             Tons of steel VCRsSouth Korea     80                 40Japan                20              20     

答案: South Korea should export steel

7、 The Ricardian model demonstrates that

答案: trade between two countries may benefit both if each exports the product in which it has a comparative advantage.

8、 In the Ricardian model, comparative advantage is likely to be due to _____.

答案: labor productivity differences.

9、 Given the information in the following table, Foreign’s opportunity cost of widgets is_____. 

答案: 0.5

10、 In a two-product, two-country world, international trade can lead to increases in___.

答案: output of both products and consumer welfare in both countries.

11、 Trade between two countries can benefit both countries if

答案: each country exports that good in which it has a comparative advantage.

12、 A country engaging in trade according to the principles of comparative advantage gains from trade because it __.

答案: is producing imports indirectly more efficiently than it could domestically.

13、 The earliest statement of the principle of comparative advantage is associated with

答案: David Ricardo.

14、 The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to ___.

答案: differences in labor productivity.

15、 In the Ricardian model, comparative advantage is likely to be due to __.

答案: labor productivity differences.

03 Neoclassical trade Theory

1、 In the specific factors model, a 5% increase in the price of food accompanied by a 1% increase in the price of cloth will cause _ in the welfare of labor, _ in the welfare of the fixed factor in the production of food, and __ in the welfare of the fixed factor in the production of cloth.

答案: an ambiguous change; an increase; a decrease

2、 The slope of a country’s production possibility frontier with cloth measured on the horizontal and food measured on the vertical axis in the specific factors model is equal to _ and it _ as more cloth is produced.

答案: -MPLF/MPLC; becomes steeper

3、 Under perfect competition, the equilibrium price of labor used to produce cloth will be equal to __.

答案: the marginal product of labor in the production of cloth times the price of cloth.

4、 According to the Heckscher-Ohlin model, the source of comparative advantage is a country’s ______.

答案: factor endowments.

5、 According to the Heckscher-Ohlin model __.

答案: the gainers from trade could compensate the losers and still retain gains.

6、 If a good is labor intensive it means that the good is produced ______.

答案: using relatively more labor than goods that are not labor intensive.

7、 In the Heckscher-Ohlin model, when there is international-trade equilibrium _____.

答案: the relative price of the capital-intensive good in the capital-rich country will be the same as that in the capital-poor country.

8、 Factors tend to be specific to certain uses and products

答案: in the short run.

9、 Empirical observations on actual North-South trade patterns tend to

答案: support the validity of the Heckscher-Ohlin model.

10、 According to the factor endowment model, countries heavily endowed with land will: ____.

答案: Export products that are land-intensive

11、 The Ricardian model of international trade demonstrates that trade can be mutually beneficial. Why, then, do governments restrict imports of some goods?

答案: Trade can have substantial effects on a country’s distribution of income.

12、 International trade can have important effects on the distribution of income because __.

答案: some resources are immobile in the short run.

13、 The Ricardian model of international trade demonstrates that trade can be mutually beneficial. Why, then, do governments restrict imports of some goods?

答案: Trade can have significant harmful effects on some segments of a country’s economy.

14、 International trade can have important effects on the distribution of income because __.

答案: different industries employ different factors of production.

15、 In the specific factors model, labor is defined as a(an) _____.

答案: mobile factor.

04 The Standard Trade Model

1、 The meaning of “terms of trade” is

答案: the price of a country’s exports divided by the price of its imports.

2、 If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

答案: the terms of trade of cloth exporters will improve.

3、 Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point b; point c; remain unchanged

4、 4) Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point c; point b; remain unchanged

5、 Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point b; point a; increase

6、 An increase in a country’s net commodity terms of trade will

答案: not always guarantee positive changes in the country’s economy.

7、 An import tariff will cause the terms of trade of the _ country to _ and will __ the country.

答案: importing; improve; benefit

8、 An export subsidy will cause the terms of trade of the _ country to _ and will __ the country.

答案: exporting; suffer; harm

9、 If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must

答案: decrease the internal price of imports below the world market rate.

10、 If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must

答案: harm its terms of trade.

11、 If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

答案: the cloth exporter will increase the quantity of cloth produced.

12、 An increase in a country’s net commodity terms of trade will

答案: not always guarantee positive changes in the country’s economy.

13、 If Slovenia is a large country in world trade, then if it imposes a large set of tariffs on many of its imports, this would

答案: improve its terms of trade.

14、 If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must

答案: improve the real income of its trade partners.

15、 If a small country were to levy a tariff on its imports then this would

答案: decrease the country’s economic welfare.

05 New Trade Theory and Frontier of Trade Theory 05 New Trade Theory and Frontier of Trade Theory

1、 If a firm’s output less than doubles when all inputs are doubled, production is said to occur under conditions of

答案: decreasing returns to scale.

2、 The existence of external economies of scale _.

答案: may be associated with a perfectly competitive industry.

3、 The primary determinant of patterns of interregional trade is ______.

答案: accidents of history.

4、 When a country both exports and imports a type of commodity, the country is engaged in _.

答案: intra-industry trade.

5、 Firms that produce _ products must be _ competitive.

答案: differentiated; imperfectly

6、 If the market for products produced by firms in a monopolistically competitive industry becomes _, then there will be _ firms and each firm will produce _ output and charge a _ price.

答案: larger; more; more; lower

7、 A monopoly firm engaged in international trade will ______.

答案: equate marginal costs with marginal revenues in both domestic and foreign markets.

8、 An industry is characterized by scale economies, and exists in two countries. Should these two countries engage in trade such that the combined market is supplied by one country’s industry, then _.

答案: consumers in both countries would have more varieties and lower prices.

9、 A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade with each other, then we would expect _____.

答案: each country will export different varieties of the product to the other.

10、 Intra-industry trade will tend to dominate trade flows when which of the following exists?

答案: small differences between relative country factor availabilities

11、 In the model of monopolistic competition, if firms have _ average cost curves, then opening trade will _ the total number of firms and __ the average price.

答案: downward sloping; decrease; decrease

12、 In the model of monopolistic competition, an increase in industry output will cause individual firms’ demand curves to become _, which will _ demand for higher-priced goods and __ demand for lower-priced goods.

答案: flatter; reduce; increase

13、 In the model of monopolistic competition, trade costs between countries cause ______.

答案: marginal costs of exported goods to exceed the marginal costs of goods sold domestically.

14、 When a multinational affiliate replicates production in a foreign country it is called __ foreign direct investment.

答案: horizontal

15、 A firm’s foreign direct investment. decisions are, in the case of horizontal FDI, strongly influenced by _ and, in the case of vertical FDI, strongly influenced by _.

答案: trade costs; production costs

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01 World Trade： an Overview

1、 Trade includes_and_, contribute much to economic globalization, especially to world economic growth.

答案: export,import.

2、 In Nov. 2018, Chinese government started to have China International Import Expo,______.

答案: which is the first expo on the world that aims to encourage import.

3、 Nowadays members of WTO also pay more attention on service trade compared with before. Because_____.

答案: the issues of service trade usually combined with investment,which is important for world economic growth.

4、 Developing countries are becoming more important in world trade,__.

答案: because the share of developing countries in world merchandise exports has increased obviously.

5、 Why the three European Giants, Germany, U.K. and France usually have closer trade relationship with USA?

答案: Because of the economic size.

6、 According to the gravity model, a characteristic that tends to affect the probability of trade existing between any two countries is______.

答案: the distance between them.

7、 Which of following is NOT the factor affectting trade pattern?

答案: physics

8、 When world merchandise trade developed robust,______.

答案: the performance of world real GDP growth rate generally is also good.

9、 For the consumers, trade especially import is very important,NOT because_____.

答案: they can have more money to buy various products.

10、 Relying too much on trade,that’s to say, trade dependency or trade openness is too high,which is not very good for one country.Which of following is NOT ture?

答案: China’s trade dependency is very slow.

11、 _____still the most important content of world trade.

答案: Manufactured goods

12、 The change range of the value of world merchandise trade usually larger than the volume one. Why?

答案: The key reason is that the price of commodity has big influence on the trend of world trade development.

13、 Usually, when world economy is hot, world trade volume will _, at the same time the commodity price also will ___, so the value of world trade will expand more.

答案: expand,rise

14、 Which of the following is most likely among the key topic list of G20 summit?

答案: How to deal with the fluctuation of commodity prices.

15、 The traditional calculation usually misleads the understanding about global trade relationship. TiVA addresses this issue by _.

答案: considering the value added by each country in the production of goods and services that are consumed worldwide.

02 Classical Trade Theory 02 Classical Trade Theory

1、 In the Mercantilist view of international trade (in a two-country world),_____.

答案: one country’s gain from trade was associated with a loss for the other country.

2、 In the price-specie-flow doctrine, a deficit country will _ gold, and this gold flow will ultimately lead to _ in the deficit country’s exports.

答案: lose;  an increase

3、 Which of the following policies would NOT be consistent with the Mercantilist balance-of-trade doctrine?

答案: payment of high wages to labor

4、 Referring to the following Table, the opportunity cost of one VCR in Japan is:Table: Output possibilities for South Korea and Japan      Output per worker per dayCountry           Tons of steel   VCRsSouth Korea   80                   40Japan           20                   20     

答案: 1 ton of steel

5、  Refer to the following table, according to the principle of absolute advantage, Japan should:Table: Output possibilities for South Korea and Japan Output per worker per dayCountry          Tons of steel    VCRsSouth Korea       80             40Japan               20             20    

答案: None of the above; there is no basis for gainful trade

6、 Refer to the following table, according to the principle of comparative advantage,Table: Output possibilities for South Korea and Japan Output per worker per dayCountry             Tons of steel VCRsSouth Korea     80                 40Japan                20              20     

答案: South Korea should export steel

7、 The Ricardian model demonstrates that

答案: trade between two countries may benefit both if each exports the product in which it has a comparative advantage.

8、 In the Ricardian model, comparative advantage is likely to be due to _____.

答案: labor productivity differences.

9、 Given the information in the following table, Foreign’s opportunity cost of widgets is_____. 

答案: 0.5

10、 In a two-product, two-country world, international trade can lead to increases in___.

答案: output of both products and consumer welfare in both countries.

11、 Trade between two countries can benefit both countries if

答案: each country exports that good in which it has a comparative advantage.

12、 A country engaging in trade according to the principles of comparative advantage gains from trade because it __.

答案: is producing imports indirectly more efficiently than it could domestically.

13、 The earliest statement of the principle of comparative advantage is associated with

答案: David Ricardo.

14、 The Ricardian model attributes the gains from trade associated with the principle of comparative advantage result to ___.

答案: differences in labor productivity.

15、 In the Ricardian model, comparative advantage is likely to be due to __.

答案: labor productivity differences.

03 Neoclassical trade Theory

1、 In the specific factors model, a 5% increase in the price of food accompanied by a 1% increase in the price of cloth will cause _ in the welfare of labor, _ in the welfare of the fixed factor in the production of food, and __ in the welfare of the fixed factor in the production of cloth.

答案: an ambiguous change; an increase; a decrease

2、 The slope of a country’s production possibility frontier with cloth measured on the horizontal and food measured on the vertical axis in the specific factors model is equal to _ and it _ as more cloth is produced.

答案: -MPLF/MPLC; becomes steeper

3、 Under perfect competition, the equilibrium price of labor used to produce cloth will be equal to __.

答案: the marginal product of labor in the production of cloth times the price of cloth.

4、 According to the Heckscher-Ohlin model, the source of comparative advantage is a country’s ______.

答案: factor endowments.

5、 According to the Heckscher-Ohlin model __.

答案: the gainers from trade could compensate the losers and still retain gains.

6、 If a good is labor intensive it means that the good is produced ______.

答案: using relatively more labor than goods that are not labor intensive.

7、 In the Heckscher-Ohlin model, when there is international-trade equilibrium _____.

答案: the relative price of the capital-intensive good in the capital-rich country will be the same as that in the capital-poor country.

8、 Factors tend to be specific to certain uses and products

答案: in the short run.

9、 Empirical observations on actual North-South trade patterns tend to

答案: support the validity of the Heckscher-Ohlin model.

10、 According to the factor endowment model, countries heavily endowed with land will: ____.

答案: Export products that are land-intensive

11、 The Ricardian model of international trade demonstrates that trade can be mutually beneficial. Why, then, do governments restrict imports of some goods?

答案: Trade can have substantial effects on a country’s distribution of income.

12、 International trade can have important effects on the distribution of income because __.

答案: some resources are immobile in the short run.

13、 The Ricardian model of international trade demonstrates that trade can be mutually beneficial. Why, then, do governments restrict imports of some goods?

答案: Trade can have significant harmful effects on some segments of a country’s economy.

14、 International trade can have important effects on the distribution of income because __.

答案: different industries employ different factors of production.

15、 In the specific factors model, labor is defined as a(an) _____.

答案: mobile factor.

04 The Standard Trade Model

1、 The meaning of “terms of trade” is

答案: the price of a country’s exports divided by the price of its imports.

2、 If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

答案: the terms of trade of cloth exporters will improve.

3、 Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point b; point c; remain unchanged

4、 4) Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point c; point b; remain unchanged

5、 Refer to the figure below, which shows a country’s possible production possibility frontiers and indifference curves. If the country is producing at _, then moving to _ will cause utility to __.

答案: point b; point a; increase

6、 An increase in a country’s net commodity terms of trade will

答案: not always guarantee positive changes in the country’s economy.

7、 An import tariff will cause the terms of trade of the _ country to _ and will __ the country.

答案: importing; improve; benefit

8、 An export subsidy will cause the terms of trade of the _ country to _ and will __ the country.

答案: exporting; suffer; harm

9、 If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must

答案: decrease the internal price of imports below the world market rate.

10、 If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must

答案: harm its terms of trade.

11、 If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then

答案: the cloth exporter will increase the quantity of cloth produced.

12、 An increase in a country’s net commodity terms of trade will

答案: not always guarantee positive changes in the country’s economy.

13、 If Slovenia is a large country in world trade, then if it imposes a large set of tariffs on many of its imports, this would

答案: improve its terms of trade.

14、 If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must

答案: improve the real income of its trade partners.

15、 If a small country were to levy a tariff on its imports then this would

答案: decrease the country’s economic welfare.

05 New Trade Theory and Frontier of Trade Theory 05 New Trade Theory and Frontier of Trade Theory

1、 If a firm’s output less than doubles when all inputs are doubled, production is said to occur under conditions of

答案: decreasing returns to scale.

2、 The existence of external economies of scale _.

答案: may be associated with a perfectly competitive industry.

3、 The primary determinant of patterns of interregional trade is ______.

答案: accidents of history.

4、 When a country both exports and imports a type of commodity, the country is engaged in _.

答案: intra-industry trade.

5、 Firms that produce _ products must be _ competitive.

答案: differentiated; imperfectly

6、 If the market for products produced by firms in a monopolistically competitive industry becomes _, then there will be _ firms and each firm will produce _ output and charge a _ price.

答案: larger; more; more; lower

7、 A monopoly firm engaged in international trade will ______.

答案: equate marginal costs with marginal revenues in both domestic and foreign markets.

8、 An industry is characterized by scale economies, and exists in two countries. Should these two countries engage in trade such that the combined market is supplied by one country’s industry, then _.

答案: consumers in both countries would have more varieties and lower prices.

9、 A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade with each other, then we would expect _____.

答案: each country will export different varieties of the product to the other.

10、 Intra-industry trade will tend to dominate trade flows when which of the following exists?

答案: small differences between relative country factor availabilities

11、 In the model of monopolistic competition, if firms have _ average cost curves, then opening trade will _ the total number of firms and __ the average price.

答案: downward sloping; decrease; decrease

12、 In the model of monopolistic competition, an increase in industry output will cause individual firms’ demand curves to become _, which will _ demand for higher-priced goods and __ demand for lower-priced goods.

答案: flatter; reduce; increase

13、 In the model of monopolistic competition, trade costs between countries cause ______.

答案: marginal costs of exported goods to exceed the marginal costs of goods sold domestically.

14、 When a multinational affiliate replicates production in a foreign country it is called __ foreign direct investment.

答案: horizontal

15、 A firm’s foreign direct investment. decisions are, in the case of horizontal FDI, strongly influenced by _ and, in the case of vertical FDI, strongly influenced by _.

答案: trade costs; production costs

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06 Trade Protection Theory

1、 The Brander-Spencer model identified market failure in certain industries due to ____.

答案: limited competition.

2、 In the Brander-Spencer model the subsidy raises profits by more than the subsidy because of ____.

答案: the deterrent effect of the subsidy on foreign competition.

3、 Criticisms of the Brander-Spencer model include all EXCEPT which of the following?

答案: the problem of harm to interests of consumers

4、 The Heckscher-Ohlin, factor-proportions model lends support to the argument that ___ .

答案:  trade tends to worsen the conditions of unskilled labor in rich countries.

5、  If firms in an industry are generating knowledge that other firms can use without paying for it, this industry is characterized by _____.

答案: social benefits that exceed private benefits.

6、 It is argued that high-tech industries typically generate new technologies but cannot fully appropriate the commercial benefits associated with their inventions or discoveries. If this is TRUE, then in order to maximize a country’s real income, the government should _____.

答案: subsidize the high-tech firms.

7、 The best economic case one can make for an active industrial policy involves _____.

答案: raising the national income.

8、 Spencer and Brander’s model highlights the existence of __.

答案: excess returns, or rents, available in non-competitive markets.

9、 Spencer and Brander’s model highlights the conventional assumption that ______.

答案: government subsidies can produce profits that exceed the subsidy’s value.

10、 The reason Airbus succeeded in the Brander Spencer example is that _______.

答案: the subsidy removed the advantage that Boeing gained with their head start in production.

11、 The reason Airbus succeeded in the Brander Spencer example is that ___.

答案: the European government made an explicit subsidy offer, but the U.S. government did not.

12、 The argument that strategic planning is NOT likely to be practical due to insufficient information means that  ___.

答案: even if the government had all the relevant information in a given industry, it still could not decide whether a subsidy would enhance the public’s welfare.

13、 The infant industry argument is that _____.

答案: developing countries have a potential comparative advantage in manufacturing.

14、 The infant industry argument calls for active government involvement ___.

答案: only if some market failure can be identified.

15、 The existence of positive externalities due to the impossibility of full appropriability ______.

答案: provides support for government protectionism.

07 The Instruments of Trade Policy

1、 An import tariff will _ producer surplus, _ consumer surplus, _ government revenue, and _ overall domestic national welfare.

答案: increase; decrease; increase; have an ambiguous effect on

2、 An export subsidy will _ producer surplus, _ consumer surplus, _ government revenue, and _ overall domestic national welfare.

答案: increase; decrease; decrease; decrease

3、 An import quota will _ producer surplus, _ consumer surplus, _ government revenue, and _ overall domestic national welfare.

答案: increase; decrease; have no effect on; have an ambiguous effect on

4、 A voluntary export restraint will _ producer surplus, _ consumer surplus, _ government revenue, and _ overall domestic national welfare.

答案: increase; decrease; have no effect on; decrease

5、 Which trade policy results in the government levying a “two-tier” tariff on imported goods?

答案: Tariff quota

6、 When the production of a commodity does not utilize imported inputs, the effective tariff rate on the commodity: _____.

答案: Equals the nominal tariff rate on the commodity

7、 If the home country’s government grants a subsidy on a domestically produced good, domestic producers tend to: __.

答案: Increase their level of production

8、 Import quotas tend to lead to all of the following except: __.

答案: Domestic producers of the imported good being harmed

9、 A lower tariff on imported aluminum would most likely benefit: _____.

答案: Domestic consumers of aluminum

10、 Consider the following figure. The deadweight cost of the tariff totals: _____.

答案: $90

11、 Specific tariffs are _______.

答案: import taxes calculated as a fixed charge for each unit of imported goods.

12、 Ad valorem tariffs are _____.

答案: import taxes calculated as a fraction of the value of the imported goods.

13、 A specific tariff provides home producers more protection when _____.

答案: the home market buys cheaper products rather than expensive products.

14、 A lower tariff on imported steel would most likely benefit _____.

答案: domestic consumers of steel.

15、 Which of the following is a fixed percentage of the value of an imported product?

答案: ad valorem tariff

08 The political Economy of Trade Policy

1、 The efficiency case made for free trade is that as trade distortions such as tariffs are dismantled and removed _____.

答案: deadweight losses for producers and consumers will decrease, hence increasing national economic welfare.

2、 The opportunity to exploit economies of scale is one of the gains to be derived by removing tariffs and other trade distortions. These gains will be the result of a decrease in ____.

答案: excessive entry and inefficient business practices.

3、 Judging by the ongoing changes in tariff rates in major trading countries, the world has been experiencing a great ____.

答案: trade liberalization.

4、 The optimum tariff is most likely to apply to ____.

答案: a small tariff imposed by a large country.

5、 The fact that trade policy often imposes harm on large numbers of people, and benefits only a few may be explained by _______.

答案: the problem of collective action.

6、 Small groups may gain at the expense of the majority when _____.

答案: all of the above.

7、 It is argued that special interest groups are likely to take over and promote protectionist policies, which may lead to a decrease in national economic welfare. This argument leads to ______. 

答案: a presumption that in practice a free trade policy is likely to be better than alternatives.

8、 The median voter model ____.

答案: does not work well in the area of trade policy.

9、 Protectionism tends to be concentrated in two sectors _____.

答案: agriculture and clothing.

10、 Export embargoes cause greater losses to consumer surplus in the target country ____.

答案: the more inelastic is the target country’s supply.

11、 The strongest political pressure for a trade policy that results in higher protectionism comes from _____.

答案: domestic workers lobbying for import restrictions.

12、 Today U.S. protectionism is concentrated in _____.

答案: labor-intensive industries.

13、 The quantitative importance of U.S. protection of the domestic clothing industry is best explained by the fact that ______.

答案: this industry is a politically well-organized sector in the U.S.

14、 Trade theory suggests that Japan would gain from a subsidy the United States provides its grain farmers if the gains to Japanese consumers of wheat products more than offsets the losses to Japanese wheat farmers. This would occur as long as Japan __.

答案: is a net importer of wheat.

15、 The optimum tariff is ______.

答案: not practical for a large country due to the likelihood of retaliation.

09 Foreign Trade policy in the developed and developing countries

1、 Ad valorem tariffs are  ______.

答案: import taxes calculated as a fraction of the value of the imported goods.  

2、 A problem encountered when implementing an “infant industry” tariff is that _____.

答案: the industry may never “mature.”

3、 In the country levying the tariff, the tariff will _____.

答案: decrease consumer surplus and increase producer surplus.

4、 If the tariff on computers is not changed, but domestic computer producers shift from domestically produced semiconductors to imported components, then the effective rate of protection in the computer industry will _______.

答案: increase.

5、 When a government allows raw materials and other intermediate products to enter a country duty free, this generally is considered as a important part of : _____.

答案: Export-oriented industrialization policy

6、 While organization determines procedures for the settlement of international trade disputes?

答案: WTO

7、 The quantitative importance of U.S. protection of the domestic clothing industry is best explained by the fact that ______.

答案: this industry is an important employer of low skilled labor

8、 The South Korea’s “economic miracle” illustrates a clear case in which ______.

答案: exports and growth were positively related.

9、 The “East Asian Miracle” of the “Four Tigers” in the 1960s was replicated by _____.

答案: other East Asian countries.

10、 The growth successes of the high performance Asian economies _______.

答案: rejects the belief that economic development requires import substitution policies.

11、 Which trade strategy have developing countries used to restrict imports of manufactured goods so that the domestic market is preserved for home producers?

答案: import substitution

12、 Growth rates in Brazil and other Latin American countries have actually been slower since the trade liberalization of the late 1980s than they were during import-substituting industrialization _______.

答案: does not prove that trade liberalization always leads to rapid economic growth.

13、 The imperfect capital market justification for infant industry promotion _____.

答案: assumes that new industries will tend to have low profits.

14、 The infant industry argument is that ______.

答案: developing countries have a potential comparative advantage in manufacturing.

15、 Import substitution policies make use of ______.

答案: tariffs that discourage goods from entering a country.

10 Controversies in Trade Policy 10 Controversies in Trade Policy

1、 In the second half of the 1990s a rapidly growing movement focused on the harm caused by international trade to _____.

答案: production workers in both rich and poor countries.

2、 Low wages and poor working conditions in many U.S. trade partners ______.

答案: are facts emphasized by U.S. labor in its contract negotiations.

3、 The fact that articles of clothing sold in Walmart are produced by very poorly paid workers in Honduras, is a fact that if taken into account _______.

答案: proves to the Anti-Globalization Movement that trade is a negative sum game.

4、 The ship-breakers of Alang are ______.

答案: competing with pollution-producing industries in countries outside of India.

5、 The Ship-breakers of Alang arouse the ire of Greenpeace because of ______.

答案: the large amount of pollution associated with the operations at Alang.

6、 In today’s world markets, poor developing countries tend to rely primarily on exports of _____.

答案: manufactured products.

7、 The Ricardian model of comparative advantage lends support to the argument that ______.

答案: trade is mutually beneficial to the countries that engage in it.

8、 Most developing countries oppose including labor standards in trade agreements because ______.

答案: they believe this would limit their ability to export to rich markets.

9、 The evidence usually cited to prove that globalization hurts workers in developing countries ______.

答案: is inconclusive due to the ambiguous theoretical implications of the findings.

10、 When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North-South trade, such as U.S.-Mexico trade, __.

答案: is likely to involve higher overall national economic gains that will be greater than any harm done to low-skilled workers in the U.S.

11、 Working conditions for clothing workers in Bangladesh are very poor. If countries refuse to buy clothing from Bangladesh in order to encourage change, the effect is likely to be that ___.

答案: firms will try to comply and workers will be worse off.

12、 Free trade and globalization is generally believed ______.

答案: to cause a degradation in the world’s environment.

13、 The Ship-breakers of Alang utilize much labor and little capital, thereby supporting the applicability of the ___.

答案: factor proportions explanation of the sources of comparative advantage.

14、 The Ship-breakers of Alang represent a perfect example of how a developing country can apply the principles of the Heckscher-Ohlin model, since __.

答案: ship-breaking is a labor-intensive operation in India, and India’s availability of capital per worker is less than that of its trade partners.

15、 Which of the following statements is TRUE?

答案: Free trade can be beneficial to the economic welfare of all countries involved.

11 Multilateral and Bilateral Trading Systems

1、 Since 1994, trade rules have been enforced by _____.

答案: the WTO.

2、 The first round negotiation organized by WTO is _____, which has been triggered in 2001.

答案: Doha Development Round

3、 WTO conducts trade policy reviews, _______.

答案: the frequency of the reviews depends on the country’s economic size.

4、 What is the Most-favored-nation treatment?

答案: That’s to say if you grant someone a special favor,you have to do the same for all other WTO members.

5、 Lowering trade barriers is one of the most obvious means of encouraging trade.Which of following is NOT the barriers concerned?

答案: Unrestricted trade.

6、 The fundamental purpose of making countries’ trade rules as clear and public as possible is _____.

答案: improving predictability and stability.

7、 How about the development of RTAs in the past decades?

答案: Since 1990,RTAs developed fast

8、 In June of 1948,the predecessor of WTO, ______ came into force, and provided the rules for world trade system.

答案: GATT

9、 For almost 70 years international trade policies have been governed ____.

答案: by an international treaty known as the General Agreement on Tariffs and Trade.

10、 The WTO is ___.

答案: an international agreement.

11、 During ____which started in 1986 and ended in 1994, the members of GATT discussed and later decided to create one formal organization to regulate the world trade, that’s the WTO.

答案: The Uruguay Round

12、 The game theory model has proven that _____.

答案: we need talk or coordination.

13、 Which of the following dose NOT belong to the umbrella agreement—the Marrakesh Agreement establishing the WTO?

答案: Trans-Pacific Partnership Agreement.

14、 WTO just provides a kind of mechanism,which helps to settle disputes,that’s ____.

答案: Dispute Settlement Body.

15、 A country can raise barriers against products that are considered to be traded unfairly from specific countries, _______.

答案: This is generally true if the country gets the authority from the WTO.

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