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1、第一章1、Internationaltradeforcesdomesticfirmstobecomemorecompetitiveintermsof:a.Theintroductionofnewproductsb.Productdesignandqualityc.Productpriced.AlloftheaboveAnswer:d2、Themovementtofreeinternationaltradeismostlikelytogenerateshort-termunemploymentinwhichindustries?a. Industriesinwhichthereareneithe
2、rimportsnorexportsb. Import-competingindustriesc. Industriesthatselltodomesticandforeignbuyersd. IndustriesthatselltoonlyforeignbuyersAnswer:bMULTIPLE-CHOICEQUESTIONS3Howmuchphysicaloutputaworkerproducersinanhoursworkdependson:a.Theworkersmotivationandskillb.Thetechnology,plant,andequipmentinusec.Ho
3、weasytheproductistomanufactured.AlloftheaboveAnswer:d4Afirms_,relativetothatofotherfirms,isgenerallyregardedasthemostimportantdeterminantofcompetitiveness.a. Incomelevelb. Tastesandpreferencesc. Environmentalregulationd.ProductivityAnswer:d5Freetradersmaintainthatanopeneconomyisadvantageousinthatitp
4、rovidesallofthefollowingexcept:a. Increasedcompetitionforworldproducersb. Awiderselectionofproductsforconsumersc. Theutilizationofthemostefficientproductionmethodsd. RelativelyhighwagelevelsforalldomesticworkersAnswer:d6Foranationtomaximizeitsproductivityinaglobaleconomy:a. Onlyimportsarenecessaryb.
5、 Onlyexportsarenecessaryc. Bothimportsandexportsarenecessaryd. NeitherimportsnorexportsarenecessaryAnswer:c7Internationaltradeingoodsandservicestendsto:a. Increasealldomesticcostsandpricesb. Keepalldomesticcostsandpricesatthesamelevelc. Lessentheamountofcompetitionfacinghomemanufacturersd. Increaset
6、heamountofcompetitionfacinghomemanufacturersAnswer:dTRUE-FALSEQUESTIONS1Thebenefitsofinternationaltradeaccrueintheformsoflowerdomesticprices,developmentofmoreefficientmethodsandnewproducts,andagreaterrangeofconsumptionchoices.True2Inanopentradingsystem,acountrywillimportthosecommoditiesthatitproduce
7、satrelativelylowcostwhileexportingcommoditiesthatcanbeproducedatrelativelyhighcost.False3Althoughfreetradeprovidesbenefitsforconsumers,itisoftenarguedthatimportprotectionshouldbeprovidedtodomesticproducersofstrategicgoodsandmaterialsvitaltothenationssecurity.True4Inthelongrun,competitivenessdependso
8、nanindustrysnaturalresources,itsstockofmachineryandequipment,andtheskillofitsworkersincreatinggoodsthatpeoplewanttobuy.True5Ifanationhasanopeneconomy,itmeansthatthenationallowsprivateownershipofcapital.False6Increasedforeigncompetitiontendstoincreaseprofitsofdomesticimport-competingcompanies.False第二
9、章1. The mercantilists would have objected to:a. Export promotion policies initiated by the governmentb. The use of tariffs or quotas to restrict importsc. Trade policies designed to accumulate gold and other precious metalsd. International trade based on open marketsAnswer: d2.Unlikethemercantilists
10、,AdamSmithmaintainedthat:a. Tradebenefitsonenationonlyattheexpenseofanothernationb. Governmentcontroloftradeleadstomaximumeconomicwelfarec. Allnationscangainfromfreeinternationaltraded. TheworldsoutputofgoodsmustremainconstantovertimeAnswer:c3.UnlikeAdamSmith,DavidRicardostradingprincipleemphasizest
11、he:a. Demandsideofthemarketb. Supplysideofthemarketc. Roleofcomparativecostsd. RoleofabsolutecostsAnswer:c4.Whenanationrequiresfewerresourcesthananothernationtoproduceaproduct,thenationissaidtohavea(an):a. Absoluteadvantageintheproductionoftheproductb. Comparativeadvantageintheproductionoftheproduct
12、c.Lowermarginalrateoftransformationfortheproductd. LoweropportunitycostofproducingtheproductAnswer:a5.Accordingtotheprincipleofcomparativeadvantage,specializationandtradeincreaseanationstotaloutputsince:a. Resourcesaredirectedtotheirhighestproductivityb. Theoutputofthenationstradingpartnerdeclinesc.
13、Thenationcanproduceoutsideofitsproductionpossibilitiescurved. TheproblemofunemploymentiseliminatedAnswer:a6.Inatwo-product,two-countryworld,internationaltradecanleadtoincreasesin:a. Consumerwelfareonlyifoutputofbothproductsisincreasedb. Outputofbothproductsandconsumerwelfareinbothcountriesc.Totalpro
14、ductionofbothproducts,butnotconsumerwelfareinbothcountriesd. Consumerwelfareinbothcountries,butnottotalproductionofbothproductsAnswer:b7.Internationaltradeisbasedonthenotionthat:a. Differentcurrenciesareanobstacletointernationaltradeb. Goodsaremoremobileinternationallythanareresourcesc.Resourcesarem
15、oremobileinternationallythanaregoodsd. AcountrysexportsshouldalwaysexceeditsimportsAnswer:b8Ricardostheoryofcomparativeadvantagewasoflimitedreal-worldvaliditybecauseitwasfoundedonthe:a. Labortheoryofvalueb. Capitaltheoryofvaluec. Landtheoryofvalued. EntrepreneurtheoryofvalueAnswer:a9. TheRicardianmo
16、delofcomparativeadvantageisbasedonallofthefollowingassumptionsexcept:a. Onlytwonationsandtwoproductsb. Productqualityvariesamongnationsc. Laboristheonlyfactorofproductiond. LaborcanmovefreelywithinanationAnswer:bTRUE-FALSEQUESTIONS1. Accordingtothemercantilists,anationswelfarewouldimproveifitmaintai
17、nedasurplusofexportsoverimportsTrue2. ThetradetheoriesofAdamSmithandDavidRicardoviewedthedeterminationofcompetitivenessfromthedemandsideofthemarket.False3. Theprincipleofabsoluteadvantageassertsthatmutuallybeneficialtradecanoccurevenifonenationisabsolutelymoreefficientintheproductionofallgoods.False
18、4. Theprincipleofcomparativeadvantagecontendsthatanationshouldspecializeinandexportthegoodinwhichitsabsoluteadvantageissmallestoritsabsolutedisadvantageisgreatest.False5. ComparedtoRicardiantradetheory,moderntradetheoryprovidesamoregeneralviewofcomparativeadvantagesinceitisbasedonallfactorsofproduct
19、ionratherthanjustlabor.True6. Accordingtotheprincipleofcomparativeadvantage,anopentradingsystemresultsinresourcesbeingchanneledfromusesoflowproductivitytothoseofhighproductivity.True第三章1. Whichofthefollowingisfalseconcerningindifferencecurves?a. Theyillustratehowthenationranksalternativeconsumptionb
20、undlesb. Highercurvesrefertomoresatisfactionc.Theyarenegativelysloped,beingbowedoutawayfromthediagramsorigind. TheyreflectthetastesandpreferencesofaconsumerAnswer:c2. Theamountofonegoodthatisjustsufficienttocompensatetheconsumerforthelossofsomeamountofanothergoodisreferredtoas:a. Absolutecostb. Comp
21、arativecostc. Marginalrateoftransformationd. MarginalrateofsubstitutionAnswer:dTheintroductionofcommunityindifferencecurvesintoourtradingexamplefocusesattentiononthenations:a. Incomelevelb. Resourcepricesc. Tastesandpreferencesd. ProductivitylevelAnswer:cTrade between two nations would not be possib
22、le if they have:a. Identical community indifference curves but different production possibilities curvesb. Identical production possibilities curves but different community indifference curvesc. Different production possibilities curves and different community indifference curvesd. Identical product
23、ion possibilities curves and identical community indifference curvesAnswer: dThe equilibrium prices and quantities established after trade are fully determinate if we know:a. The location of all countries indifference curvesb. The shape of each countrys production possibilities curvec. The comparati
24、ve costs of each trading partnerd. The strength of world supply and demand for each goodAnswer: dThebestexplanationofthegainsfromtradethatDavidRicardocouldprovidewastodescribeonlytheouterlimitswithinwhichtheequilibriumtermsoftradewouldfall.ThisisbecauseRicardostheorydidnotrecognizehowmarketpricesare
25、influencedby:a. Demandconditionsb. Supplyconditionsc.Businessexpectationsd. ProfitpatternsAnswer:aTRUE-FALSEQUESTIONS1. Moderntradetheoryrecognizesthatthepatternofworldtradeisgovernedbybothdemandconditionsandsupplyconditions.Answer:True2. BecausetheRicardiantheoryofcomparativeadvantagewasbasedonlyon
26、anationsdemandconditions,itcouldnotfullyexplainthedistributionofthegainsfromtradeamongtradingpartners.False3. AlthoughJ.S.Millrecognizedthattheregionofmutuallybeneficialtradeisboundedbythecostratiosoftwocountries,itwasnotuntilDavidRicardodevelopedthetheoryofreciprocaldemandthattheequilibriumtermsoft
27、radecouldbedetermined.False4. AccordingtoJ.S.Mill,ifweknowthedomesticdemandexpressedbybothtradingpartnersforbothproducts,theequilibriumtermsoftradecanbedefined.True5Thetheoryofreciprocaldemandbestapplieswhenonecountryhasa“largeeconomyandtheothercountryhasa“smalleconomy.False6. Anationbenefitsfromint
28、ernationaltradeifitcanachieveahigherindifferencecurvethanitcaninautarky.True第四章Whichofthefollowingsuggeststhatanationwillexportthecommodityintheproductionofwhichagreatdealofitsrelativelyabundantandcheapfactorisused?a. TheLindertheoryb. Theproductlifecycletheoryc. TheMacDougalltheoryd.TheHeckscher-Oh
29、lintheoryAnswer:dThe Leontief paradox questioned the validity of the theory of:a. Comparative advantageb. Factor endowmentsc. Overlapping demandsd. Absolute advantageAnswer: bAssume that Country A, in the absence of trade, finds itself relatively abundant in labor and relatively scarce in land. The
30、factor endowment theory reasons that with free trade, the internal distribution of national income in Country A will change in favor of:a. Laborb. Landc. Both labor and landd. Neither labor nor landAnswer: aWhen considering the effects of transportation costs, the conclusions of our trade model must
31、 be modified. This is because transportation costs result in:a. Lower trade volume, higher import prices, smaller gains from tradeb. Lower trade volume, lower import prices, smaller gains from tradec. Higher trade volume, higher import prices, smaller gains from traded. Higher trade volume, lower im
32、port prices, greater gains from tradeAnswer: aAssume the cost of transporting autos from Japan to Canada exceeds the pretrade price difference for autos between Japan and Canada. Trade in autos is:a. Impossibleb. Possiblec. Highly profitabled. Moderately profitableAnswer: aEli Heckscher and Bertil O
33、hlin are associated with the theory of comparative advantage that stresses differences in:a. Income levels among countriesb. Tastes and preferences among countriesc. Resource endowments among countriesd. Labor productivities among countriesAnswer: cHongKongisrelativelyabundantinlabor,whileCanadaisre
34、lativelyabundantincapital.Inbothcountriestheproductionofshirtsisrelativelymorelaborintensivethantheproductionofcomputers.Accordingtothefactorendowmenttheory,HongKongwillhavea(an):a. Absoluteadvantageintheproductionofshirtsandcomputersb. Absoluteadvantageintheproductionofcomputersc. Comparativeadvant
35、ageintheproductionofshirtsd. ComparativeadvantageintheproductionofcomputersAnswer:cA firm is said to enjoy economies of scale over the range of output for which the long-run average cost is:a. Increasingb. Constantc. Decreasingd. None of the aboveAnswer: cWhich of the following suggests that by wide
36、ning the markets size, international trade can permit longer production runs for manufacturers, which leads to increasing efficiency?a. Economies of scaleb. Diseconomies of scalec. Comparative cost theoryd. Absolute cost theoryAnswer: aTRUE-FALSEQUESTIONSTheHeckscher-Ohlintheoryassertsthatrelativedi
37、fferencesinlaborproductivityunderliecomparativeadvantage.FalseThefactor-endowmenttheoryhighlightstherelativeabundanceofanationsresourcesasthekeyfactorunderlyingcomparativeadvantage.TrueAccordingtothefactor-endowmenttheory,anationwillexportthatgoodforwhichalargeamountoftherelativelyscarceresourceisus
38、ed.FalseTheHeckscher-Ohlintheorysuggeststhatland-abundantnationswillexportland-intensivegoodswhilelabor-abundantnationswillexportlabor-intensivegoods.TrueTheHeckscher-Ohlintheoryemphasizestherolethatdemandplaysinthecreationofcomparativeadvantage.FalseAccordingtothefactor-endowmenttheory,internationa
39、lspecializationandtradecauseanationscheapresourcetobecomecheaperandanationsexpensiveresourcetobecomemoreexpensiveFalseBecauseseasonsintheSouthernHemisphereareoppositethoseintheNorthernHemisphere,onewouldexpectintraindustrytradetooccurinagriculturalproducts.True第五章SupposethattheUnitedStateseliminates
40、itstariffonsteelimports,permittingforeign-producedsteeltoentertheU.S.market.SteelpricestoU.S.consumerswouldbeexpectedto:a. Increase,andtheforeigndemandforU.S.exportswouldincreaseb. Decrease,andtheforeigndemandforU.S.exportswouldincreasec.Increase,andtheforeigndemandforU.S.exportswoulddecreased. Decr
41、ease,andtheforeigndemandforU.S.exportswoulddecreaseAnswer:bAlowertariffonimportedaluminumwouldmostlikelybenefit:a. Foreignproducersattheexpenseofdomesticconsumersb. Domesticmanufacturersofaluminumc. Domesticconsumersofaluminumd. WorkersinthedomesticaluminumindustryAnswer:cTheredistributioneffectofan
42、importtariffisthetransferofincomefromthedomestic:a. Producerstodomesticbuyersofthegoodb. Buyerstodomesticproducersofthegoodc. Buyerstothedomesticgovernmentd. GovernmenttothedomesticbuyersAnswer:bWhichofthefollowingistrueconcerningaspecifictariff?a. ItisexclusivelyusedbytheU.S.initstariffschedulesb.
43、Itreferstoaflatpercentagedutyappliedtoagoodsmarketvaluec.Itisplaguedbyproblemsassociatedwithassessingimportproductvaluesd. ItaffordslessprotectiontohomeproducersduringerasofrisingpricesAnswer:dTheprincipalbenefitoftariffprotectiongoesto:a. Domesticconsumersofthegoodproducedb. Domesticproducersoftheg
44、oodproducedc. Foreignproducersofthegoodproducedd. ForeignconsumersofthegoodproducedAnswer:bThedeadweightlossofatariff:a. Isasociallosssinceitpromotesinefficientproductionb. Isasociallosssinceitreducestherevenueforthegovernmentc. Isnotasociallossbecausesocietyasawholedoesntpayforthelossd. Isnotasocia
45、llosssinceonlybusinessfirmssufferrevenuelossesAnswer:aWhichofthefollowingisafixedpercentageofthevalueofanimportedproductasitentersthecountry?a. Specifictariffb. Advaloremtariffc. Nominaltariffd. EffectivetariffAnswer:bAtaxof20centsperunitofimportedcheesewouldbeanexampleof:a. Compoundtariffb. Effecti
46、vetariffc. Advaloremtariffd. SpecifictariffAnswer:dFreetraderspointoutthat:a. Thereisusuallyanefficiencygainfromhavingtariffsb. Thereisusuallyanefficiencylossfromhavingtariffsc. Producerslosefromtariffsattheexpenseofconsumersd. ProducerslosefromtariffsattheexpenseofthegovernmentAnswer:bAdecreaseinth
47、eimporttariffwillresultin:a. Anincreaseinimportsbutadecreaseindomesticproductionb. Adecreaseinimportsbutanincreaseindomesticproductionc. Anincreaseinpricebutadecreaseinquantitypurchasedd. AdecreaseinpriceandadecreaseinquantitypurchasedAnswer:aTRUE-FALSEQUESTIONSWithacompoundtariff,adomesticimportero
48、fanautomobilemightberequiredtopayadutyof$200plus4percentofthevalueoftheautomobile.TureDuringabusinessrecession,whencheaperproductsarepurchased,aspecifictariffprovidesdomesticproducersagreateramountofprotectionagainstimport-competinggoods.TureBondedwarehousesandforeigntradezoneshavetheeffectofallowin
49、gdomesticimporterstopostponeandprorateovertimetheirimportdutyobligations.TureProducersurplusistherevenueproducersreceiveoverandabovetheminimumnecessaryforproduction.TureFora“smallcountry,atariffraisesthedomesticpriceofanimportedproductbythefullamountoftheduty.TureA“largecountry,thatleviesatariffonim
50、ports,cannotimprovethetermsatwhichittradeswithothercountries.FalseFora“largecountry,atariffonanimportedproductmaybepartiallyabsorbedbythedomesticconsumerviaahigherpurchasepriceandpartiallyabsorbedbytheforeignproducerviaalowerexportprice.Ture第七章TheWorldTradeOrganizationwasestablishedbythe_ofmultilate
51、raltradenegotiations.a. KennedyRoundb. TokyoRoundc.UruguayRoundd. ClintonRoundAnswer:cThe Export-Import Bank of the United States encourages American firms to sell overseas by providing direct loans and loan guarantees to foreign purchasers of American goods. To American firms, this represents a (an
52、):a. Specific subsidyb. Ad valorem subsidyc. Domestic subsidyd. Export subsidyAnswer: dThe Smoot-Hawley Tariff Act of 1930 has generally been associated with:a. Falling tariffsb. Increases in the volume of tradec. Intensifying the worldwide depressiond. Efforts to liberalize nontariff trade barriers
53、Answer: cUnderU.S.commercialpolicy,whichclausepermitsthemodificationofatradeliberalizationagreementonatemporarybasisifseriousinjuryoccurstodomesticproducersasaresultoftheagreement?a. Adjustmentassistanceclauseb. Escapeclausec. Most-favored-nationclaused. Reciprocal-tradeclauseAnswer:bThe General Agr
54、eement on Tariffs and Trade and its successor, the World Trade Organization, have resulted in:a. Termination of export subsidies applied to manufactured goodsb. Termination of import tariffs applied to manufactured goodsc. Encouragement of beggar-thy-neighbor policiesd. Reductions in trade barriers
55、via multilateral negotiationsAnswer: dThroughout the post-World War II era, the importance of tariffs as a trade barrier has:a. Increasedb. Decreasedc. Remained the samed. None of the aboveAnswer: bDuring the past four decades:a. Nontariff barriers (NTBs) and tariffs have increased in importanceb. N
56、TBs and tariffs have decreased in importancec. NTBs have increased and tariffs have decreased in importanced. NTBs have decreased and tariffs have increased in importanceAnswer: cIndustrial policy attempts to fulfill all of the following objectives except:a. Improving the infrastructure for an indus
57、tryb. Easing transitions for workers in declining industriesc. Supporting troubled industries if the difficulty is temporaryd. Fostering industries which offer long-run comparative disadvantageAnswer: dTheWorldTradeOrganizationprovidesforallofthefollowingexcept:a. Theusageofthenormal-trade-relation(
58、most-favored-nation)clauseb. Assistanceinthesettlementoftradedisagreementsc. Multilateraltariffreductionsd. BilateraltariffreductionsAnswer:dTRUE-FALSEQUESTIONSWiththepassageoftheSmoot-HawleyActin1930,U.S.averagetariffswereraisedtoover50percentonprotectedimports.TrueAccordingtotheGeneralAgreementonT
59、ariffsandTradeanditssuccessor,theWorldTradeOrganization,onlybilateraltradenegotiationscantakeplacebetweenacountryanditstradingpartners.FalseMembersoftheGeneralAgreementonTariffsandTradeanditssuccessor,theWorldtradethroughTradeOrganization,agreetotheprincipleofnondiscriminationintradeandthereductiono
60、ftradebarriersbymultilateralnegotiations.TrueIntellectualpropertyreferstoholdingsofrarebooksandpiecesofartthataretradedontheworldmarket.FalseCopyrights,trademarks,andpatentsareusedtoprotecttheintellectualpropertyofanationfromforeignimitators.TrueAccordingtothestrategic-trade-policyhypothesis,governm
61、entalsubsidiesgrantedtodomesticproducerscanhelpthemincapturingeconomicprofitsfromforeigncompetitors.TrueThestrategic-trade-policyhypothesisassumesthatdomesticfirmsoperateunderincreasingcostconditionsaswellasinperfectlycompetitivemarkets.FalseTheclassicaltheoryofcomparativeadvantageassumesthatfirmsop
62、erateinimperfectlycompetitivemarkets,whilethetheoryofstrategictradepolicyassumesthatfirmsoperateinperfectlycompetitivemarkets.False第八、九章Whichofthefollowingisnotamajorfactorthatencouragesdevelopingnationstoforminternationalcommodityagreements?a. Inelasticcommoditysupplyschedulesb. Inelasticcommodityd
63、emandschedulesc. Exportmarketsthattendtobeunstabled.SecularincreasesintheirtermsoftradeInternationalcommodityagreementsdonot:a. Consistofconsumingandproducingnationswhodesiremarketstabilityb.Levyexportcutbackssoastooffsetrisingcommoditypricesc. Utilizebufferstockstogeneratecommoditypricestabilityd.
64、IncreasethesupplyofcommoditiestopreventrisingpricesAprimarygoalofinternationalcommodityagreementshasbeenthe:a. Maximizationofmembersrevenuesviaexporttaxesb. Nationalizationofcorporationsoperatinginmembernationsc.Adoptionoftariffprotectionagainstindustrializednationsellersd.Moderationofcommodityprice
65、fluctuationswhenmarketsareunstableWhichdevicehastheInternationalTinAgreementutilizedasawayofstabilizingtinprices?a. Multilateralcontractsb. Exportsubsidiesc.Bufferstocksd. ExporttariffsWhichofthefollowingcouldpartiallyexplainwhythetermsoftradeofdevelopingcountriesmightdeteriorateovertime?a. Developi
66、ng-countryexportsmainlyconsistofmanufacturedgoodsb. Developing-countryimportsmainlyconsistofprimaryproductsc.Commodityexportpricesaredeterminedinhighlycompetitivemarketsd. CommodityexportpricesaresolelydeterminedbydevelopingcountriesHongKongandSouthKoreaareexamplesofdevelopingnationsthathaverecently
67、pursuedindustrializationpolicies.a. Importsubstitutionb.Exportpromotionc. Commercialdumpingd. MultilateralcontractTRUE-FALSEQUESTIONST FThedevelopingnationsaremostofthoseinAfrica,Asia,NorthAmerica,andWesternEurope.T FMostdeveloping-nationexportsgotoindustrialnationswhilemostdeveloping-nationimportso
68、riginateinindustrialnations.T FThemajorityofdeveloping-nationexportsareprimaryproductssuchasagriculturalgoodsandrawmaterials;ofthemanufacturedgoodsexportedbydevelopingnations,mostarelabor-intensivegoods.T FAmongtheeconomicproblemsfacingdevelopingcountrieshavebeenlowdependenceonprimary-productexports
69、,unstableexportmarkets,andworseningtermsoftrade.T FTopromotestabilityincommoditymarkets,InternationalCommodityAgreementshaveutilizedproductionandexportcontrols,bufferstocks,andmultilateralcontracts.T FItiswidelyagreedthatimport-substitutionpolicieshavebeenamaincontributortoabove-averagegrowthratesin
70、developingcountries.T FUndertheGeneralizedSystemofPreferencesprogram,themajorindustrialcountriesagreetotemporarilyreducetariffsondesignatedimportsfromotherindustrialcountries.T FMostofChinasmanufacturedexportshaveconstitutedlabor-intensivegoods.T FThereplacementofimportsofonenationwithimportsofanoth
71、ernationisknownas“importsubstitution.MULTIPLE-CHOICEQUESTIONSTheEuropeanUnionisprimarilyintendedtopermit:a. Countriestoadoptscientifictariffsonimportsb. Anagriculturalcommoditycartelwithinthegroupc.Theadoptionofexporttariffsforrevenuepurposesd.FreemovementofresourcesandproductsamongmembernationsWhic
72、hofthefollowingrepresentsthestagewhereeconomicintegrationismostcomplete?a. Economicunionb. Customsunionc.Monetaryuniond. CommonmarketWhichofthefollowingrepresentsthestagewhereeconomicintegrationisleastcomplete?a.Freetradeareab. Monetaryunionc. Commonmarketd. CustomsunionWhicheconomicintegrationschem
73、eissolelyintendedtoabolishtraderestrictionsamongmembercountries,whilesettingupcommontariffsagainstnonmembers?a. Economicunionb. Commonmarketc. Freetradearead.CustomsunionAssumethattheformationofacustomsunionturnsouttoincludethelowest-costworldproduceroftheproductinquestion.Whicheffectcouldnotoccurfo
74、rtheparticipatingcountries?a. Tradecreation-productioneffectb. Tradecreation-consumptioneffectc.Tradediversiond. ScaleeconomiesandcompetitionAdynamicwelfaregainresultingfromtheformationoftheEuropeanUnionwouldbe:a. Tradediversionb. Tradecreationc. Diseconomiesofscaled.EconomiesofscaleUnderthecommonag
75、riculturalpolicy,exportsofanysurplusquantitiesofEUproduceareencouragedthroughtheusageof:a. Variableleviesb.ExportsubsidiesTRUE-FALSEQUESTIONSTFTheEuropeanUnionprotectsitsagriculturalproducersfromimportcompetitionbytheuseoftariffratesthatvarydirectlywithworldprices.T FTradecreationtendstomorethanoffs
76、ettradediversionforahomecountryformingacustomsunionwithpartnercountrieswhen:(1)thetariffrateinthehomecountryishighpriortotheformationofthecustomsunion;(2)therearealargenumberofcountriesformingthecustomsunion.T FIfChileandMexicoformafree-tradeagreement,thewelfareofthetwocountrieswillnecessarilyincrea
77、se.T FEconomicintegrationistheprocessofeliminatingrestrictionsoninternationaltrade,payments,andfactormobility.T FThehigheststageofeconomicintegrationisamonetaryunion.T FSupposethatMexicoandCanadaformafree-tradearea.TheMexicansthendecreaserefrigeratormanufacturingandincreaseimportsofrefrigeratorsfrom
78、Canada,whiletheCanadiansdecreaseautomanufacturingandimportmoreautosfromMexico.Thisisanexampleoftradecreation.T FForcountriesformingacustomsunion,thetrade-creationeffectrepresentsawelfarelossandthetrade-diversioneffectrepresentsawelfaregain.T FThepotentialfortradediversionissmallerwhenacustomunionsex
79、ternaltariffislowerratherthanhigher.第十章Whichofthefollowingisnotasignificantmotivefortheformationofmultinationalenterprises?a. Avoidingtariffsbyobtainingforeignmanufacturingfacilitiesb. Obtainingthebenefitsfromoverseascomparativeadvantagesc.Theacquisitionofnaturalresourcesupplysourcesd. Subsidiesgran
80、tedbythehomegovernmenttooverseascorporationsAnswer:dMultinational enterprises may provide benefits to their source (home) countries because they may: a. Secure raw materials for the source countryb. Shift source country technology overseas via licensingc. Export products which reflect source-country
81、 comparative disadvantaged. Result in lower wages for source-country workersAnswer: aTrade analysis involving multinational enterprises differs from our conventional trade analysis in that multinational enterprise analysis emphasizes:a. Absolute cost differentials rather than comparative cost differ
82、entialsb. The international movement of factor inputs rather than finished goodsc. Purely competitive markets rather than imperfectly competitive marketsd. Portfolio investments rather than direct foreign investmentsAnswer: bBoth Coca-Cola Co. and Pepsi-Cola Co. are multinational firms in that their
83、 soft drinks are bottled throughout the world. This practice illustrates:a. Backward vertical integrationb. Forward vertical integrationc. Horizontal integrationd. Conglomerate integrationAnswer: cAll of the following are potential advantages of an international joint venture except:a. Sharing resea
84、rch and development costs among corporationsb. Forestalling protectionism against importsc. Establishing work rules promoting higher labor productivityd. Operating at diseconomy-of-scale output levelsAnswer:dMultinational enterprises:a. Increase the transfer of technology between nationsb. Make it h
85、arder for nations to foster activities of comparative advantagec. Always enjoy political harmony in nations where their subsidiaries operated. Require governmental subsidies in order to conduct worldwide operationsAnswer: aFirms undertake multinational operations in order to:a. Hire low-wage workers
86、b. Manufacture in nations they have difficulty exporting toc. Obtain necessary factor inputsd. All of the aboveAnswer: dTRUE-FALSEQUESTIONSInternationaltradeingoodsandservicesandflowsofproductivefactorsaresubstitutesforeachother.TrueCriticsofmultinationalcorporationsmaintainthattheyoftenabandondomes
87、ticworkersinordertotakeadvantageoflowerwagescalesabroad.TrueThetheoryofmultinationalenterpriseistotallyinconsistentwiththeprincipleofcomparativeadvantage.FalseAsworkersmigratefromlow-wageMexicotohigh-wageUnitedStates,wagestendtoriseinMexicoandfallintheUnitedStates.TrueThemigrationofworkersfromMexico
88、totheUnitedStatestendstoexertdownwardpressureonthewagesofnativeU.S.workersthatcompeteagainstMexicanworkersforjobs.TrueTheUnitedStateshasdiscouragedthe“braindrainproblembypermittingtheimmigrationofunskilledworkerswhilerestrictingtheimmigrationofskilledpersons.FalseDevelopingcountrieshavesometimesfearedopenimmigrationpoliciesofdevelopedcountriesonthegroundsthathighlyeducatedandskilledpeoplemayemigratetothedevelopedcountries,thuslimitingthegrowthpotentialofthedevelopingcountries.True
