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1、International Economics, 8e (Krugm,an) Chapter 11,1,Controversies in Trade Policy,1) The existence of positive externalities due to the impossibility of full appropriability A supports the conclusions of the Heckscher-Ohlin model. ) B) rejects the usefulness of government protectionism. C supports t
2、he concept that the government should support only high tech industries. ) D provides support for government protectionism. ) E) None of the above. AnsweD r: 2) The United States A does not provide more support for R&D as compared to other forms of investment. ) B) provides support for R&D by imposi
3、ng high tariffs on R&D intensive products. C provides support for R&D by providing direct subsidies for such activities. ) D provides support for R&D through tax legislation. ) E) None of the above. AnsweD r: 3) The Brander-Spencer model identified market failure in certain industries due to A unfai
4、r competition. ) B) wildcat destructive competition. C environmental negative externalities associated with pollution. ) D limited competition. ) E) None of the above.,2,Answe r:,D,4) In the Brander-Spencer model the subsidy raises profits by more than the subsidy because of A the multiplier effect
5、of government expenditures. ) B) the military-industrial complex. C the forward and backward linkage effects of certain industries. ) D the deterrent effect of the subsidy on foreign competition. ) E) None of the above. AnsweD r: 5) If firms in an industry are generating knowledge that other firms c
6、an use without paying for it, this industry is characterized by A social costs that exceed private costs. ) B) social benefits that exceed private benefits. C social costs that exceed social benefits. ) D private benefits that exceed social benefits. ) E) None of the above. AnsweB r: 6) It is argued
7、 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 countrys real income, the government should A tax the high-tech firms. ) B) subsidize the h
8、igh-tech firms. C protect the high-tech firms. ) D Both B and C. ) E) None of the above. AnsweB r:,3,7) In effect, the U.S. does subsidize high-tech firms by subsidizing R&D. This is done through A the budget of the Department of Education. ) B) systematic protection through the levying of tariffs.
9、C systematic protection through the establishment of NTBs. ) D relatively accelerated depreciation of R&D investment in the Federal tax codes. ) E) None of the above. AnsweD r: 8) Spencer and Branders model highlights the existence of A aircraft industries. ) B) excess returns present in highly comp
10、etitive markets. C excess returns, or rents, available in non-competitive markets. ) D the futility of government bureaucrats attempts to build an airplane. ) E) None of the above. AnsweC r: 9) The reason Airbus succeeded in the Brander Spencer example is that A the European government made an expli
11、cit subsidy offer, but the U.S. government ) did not. B) Airbus prices were better when adjusted for quality and warranty services. C Boeing traditionally refused to undertake any exchange rate risk in its transactions. ) D the U.S. acted in accordance with its ideological reliance on market solutio
12、ns, whereas ) the Europeans ignored market and technological factors. E) None of the above. AnsweA r: 10) The invocation of beggar-thy-neighbor arguments with respect to industrial policies A strengthens the argument for subsidies. ) B) makes sense if the international Keynesian multipliers exceed u
13、nity. C applies only to rich countries most of whose trade partners are very poor countries. ) D weakens the argument for subsidies. ),4,E) None of the above. AnsweD r: 11) When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude tha
14、t North South trade, such as U.S.-Mexico trade, A must help low skill workers on both sides of the border. ) B) is likely to hurt high-skilled workers in the U.S. C is likely to hurt low-skilled workers in the U.S. ) D is likely to hurt low-skilled workers in Mexico. ) E) None of the above. AnsweC r
15、: 12) The proposal that trade agreements should include a system which monitors worker conditions and make the results available to consumers in the rich importing country A is consistent with the Invisible Hand paradigm. ) B) is consistent with the market failure approach. C is consistent with the
16、Ricardian theory of comparative advantage. ) D is consistent with the scale economies approach to trade theory. ) E) None of the above. AnsweB r: 13) Labor standards in trade are typically opposed by most developing countries who believe that they will be used A to further neo-imperialist colonial exploitation. ) B) to charge these countries with crimes against child-labor standards at the Hague. C as a protectionist tool by import-competing producers in industrial countries. ) D as a means of s
