國際經(jīng)濟學(xué)試卷

模擬試卷一、Multiple-ChoiceQuestions.(Choosethebestanswerforthefollowingquestions)(Score:20x1%=20%)(B)1.Asaresultofinternationaltrade,specializationinproductiontendstobe:Completewithconstantcosts—completewithincreasingcostsCompletewithconstantcosts—incompletewithincreasingcostsIncompletewithconstantcosts—completewithincreasingcostsIncompletewithconstantcosts—incompletewithincreasingcosts(C)2.AssumethatCountryA,intheabsenceoftrade,findsitselfrelativelyabundantinlaborandrelativelyscarceinland.Thefactorendowmenttheoryreasonsthatwithfreetrade,theinternaldistributionofnationalincomeinCountryAwillchangeinfavorof:LaborLandBothlaborandlandNeitherlabornorland(A)3. Whichofthefollowingterms-of-tradeconceptsiscalculatedbydividingthechangeinacountry’sexportpriceindexbythechangeinitsimportpriceindexbetweentwopointsintime,multipliedby100toexpressthetermsoftradeinpercentages?CommoditytermsoftradeMarginalrateoftransformationMarginalrateofsubstitutionAutarkypriceratio(D)4.Thetrading-triangleconceptisusedtoindicateanation’s:Exports,marginalrateoftransformation,termsoftradeImports,termsoftrade,marginalrateoftransformationMarginalrateoftransformation,imports,exportsTermsoftrade,exports,imports(D)5.Proponentsof maintainthatgovernmentshouldenactpoliciesthatencouragethedevelopmentofemerging,“sunrise”industries.ProductlifecyclepolicyStaticcomparativeadvantagepolicyIntraindustrytradepolicyIndustrialpolicy(C)6.TheLeontiefparadoxprovided:SupportfortheprincipleofabsoluteadvantageSupportforthefactorendowmentmodelEvidenceagainstthefactorendowmentmodelEvidenceagainsttheprincipleofabsoluteadvantage(C)7.AssumetheUnitedStatesadoptsatariffquotaonsteelinwhichthequotaissetat2milliontons,thewithin-quotatariffrateequals5percent,andtheover-quotatariffrateequals10percent.SupposetheU.S.imports1milliontonsofsteel.Theresultingrevenueeffectofthetariffquotawouldaccrueto:TheU.S.governmentonlyU.S.importingcompaniesonlyForeignexportingcompaniesonlyTheU.S.governmentandeitherU.S.importersorforeignexporters(A)8.Accordingtotheprincipleofcomparativeadvantage,specializationtradeincreaseanation’stotaloutputsince:ResourcesaredirectedtotheirhighestproductivityTheoutputofthenation’stradingpartnerdeclinesThenationcanproduceoutsideofitsproductionpossibilitiescurveTheproblemofunemploymentiseliminated(B)9.Countervailingdutiesareintendedtoneutralizeanyunfairadvantagethatforeignexportersmightgainoverdomesticproducersbecauseofforeign:TariffsSubsidiesQuotasBuy-nationalpolicies(B)10.Whichtypeofmultinationaldiversificationoccurswhentheparentestablishesforeignsubsidiariestoproduceintermediategoodsgoingintotheproductionoffinishedgoods?ForwardverticalintegrationBackwardverticalintegrationForwardhorizontalintegrationBackwardhorizontalintegration(B )11.HongKongandSouthKoreaareexamplesofdevelopingnationshaverecentlypursuedindustrializationpolicies.Thesecountriesareusing:ImportsubstitutionExportpromotionCommercialdumpingMultilateralcontract(A)12.SupposethatCanadahasdomesticfirmsthatcouldsupplyitsentiremarketforradiosatapriceof$50,whileU.S.firmscouldsupplyradiosat$40andMexicoat$30.SupposethatCanadainitiallyhasa50percenttariffonimportsofradiosandthenformsafreetradeareawiththeUnitedStates.Asresult,Canadarealizes:Tradecreation,notradediversion,andoverallwelfaregainsTradecreation,notradediversion,andoverallwelfarelossesTradediversion,notradecreation,andpotentialoverallwelfarelossesTradediversion,tradecreation,andpotentialoverallgains(C)13.SupposeGeneralMotorschargesitsMexicansubsidiary$1millionautoassemblyequipmentthatcouldbepurchasedontheopenmarketfor$800,000.Thispracticeisbestreferredtoas:InternationaldumpingCost-pluspricingTransferpricingTechnologicaltransfer(D)14.Firmsundertakemultinationaloperationsinorderto:Hirelow-wageworkersManufactureinnationstheyhavedifficultyexportingtoObtainnecessaryfactorinputsAlloftheabove(D)15.WhichofthefollowingisclassifiedasacreditintheU.S.balancepayments?U.S.exportsU.S.giftstoothercountriesAflowofgoldoutoftheU.S.ForeignloansmadebyU.S.companies(A )16.Reducingacurrentaccountdeficitrequiresacountryto:Increasethegovernment’sdeficitandincreaseprivateinvestmentrelativetosavingIncreasethegovernment’sdeficitanddecreaseprivateinvestmentrelativetosavingc Decreasethegovernment’sdeficitincreaseprivateinvestmentrelativesavingd. Decreasethegovernment’sdeficitanddecreaseprivateinvestmentrelativetosaving(B)17.Theexchangerateiskeptthesameinallpartsofthemarketby:ForwardcoverHedgingExchangespeculationExchangearbitrage(A)18. IfyouhaveacommitmenttopayafriendinBritain1,000poundsin30days,youcouldremovetheriskoflossduetotheappreciationoftheby:Buyingdollarsintheforwardmarketfordeliveryin30daysSellingdollarsintheforwardmarketfordeliveryin30daysBuyingthepoundsintheforwardmarketfordeliveryin30daysSellingthepoundsintheforwardmarketfordeliveryin30days(B)19.Overtime,athevalueofanation’scurrencyinforeignexchangemarketwillresultin:ExportsrisingandimportsfallingImportsrisingandexportsfallingBothimportsandexportsrisingBothimportsandexportsfalling(A)20.Whichtradepolicyresultsinthegovernmentlevyinga“two-tier”tariffonimportedgoods?TariffquotaNominaltariffEffectivetariffRevenuetariff二、AnswerstoTrue-FalseQuestions（Score:10x2%=20%）T1.Topreventthemarketpriceoftinfromrisingabovethetargetprice,themanagerofabufferstockwillpurchaseexcesssuppliesoftinfromthemarket.F2.Duringperiodsofgrowingdemand,atariffmoreeffectivelyrestrictsvolumeofimportsthananequivalentimportquota.T3.Ifa“l(fā)arge”countryleviesatariffonanimportedgood,itsoverallwelfareincreasesifthemonetaryvalueofthetariff’sconsumptioneffectplusprotectiveeffectexceedsthemonetaryvalueoftheterms-of-tradeeffect.F4.Iftheexchangerateis$0.01peryeninNewYorkand$0.015peryenTokyo,anarbitragercouldprofitbybuyingyeninTokyoandsimultaneouslyselltheminNewYork.F5.Thepurposeofacartelistosupportpriceshigherthanwouldoccurmorecompetitiveconditions,thusincreasingtheprofitsofcartelmembers.F6.Onthebalance-of-paymentsstatement,dividendandinterestincomeareclassifiedascapital-accounttransactions.F7.Duetotransfer-pricingproblems,multinationalcorporationsmustprofitsawayfromcountrieswithlowcorporatetaxratestohightax-ratecountries,thusabsorbingalargertaxbite.T8.Theeffectofworkersmigratingfromlow-wageMexicotohigh-wageStatesistoredistributeincomefromcapitaltolaborintheUnitedStatesandfromlabortocapitalinMexico.T9.Assume1990tobethebaseyear.Ifbytheendof2004aexportpriceindexrosefrom100to125whileitsimportpriceindexrosefrom100to125,itstermsoftradewouldequal100.10.BecausetheRicardiantheoryofcomparativeadvantagewasbasedonlyonanation’ssupplyconditions,itcouldonlydeterminetheouterlimitswithinwhichtheequilibriumtermsoftradewouldlie.T三、Answerthefollowingquestionsinbrief.（5x5%=25%）WhatisthedifferencebetweentheMRTandMRS?Howdoestherevenueeffectofanimportquotadifferfromthatofatariff?Youaregiventhefollowingspotexchangerates:$1=3marks,$1=4frankand1mark=2franks.Ignoringtransactioncosts,howmuchprofitcouldapersonmakeviathree-pointarbitrage?一美元購買了3馬克，三馬克可以購買6弗蘭克，中間凈獲得2弗蘭克。Whyarelessdevelopednationsconcernedwithcommodity-pricestabilization?Whatarethecomponentsofthecurrentaccountofthebala