国际经济学(1-4单元单项选择题以及答案).doc

International Economics’ Middle Test

1. The mercantilists would have objected to:
a. Export promotion policies initiated by the government b. The use of tariffs or quotas to restrict imports
c. Trade policies designed to accumulate gold and other precious metals d. International trade based on open markets
2. Unlike Adam Smith, David Ricardo’s trading principle emphasizes the:
a. Demand side of the market b. Supply side of the market c. Role of comparative costs d. Role of absolute costs
3. A nation that gains from trade will find its consumption point being located:
a. Inside its production possibilities curve b. Along its production possibilities curve
c. Outside its production possibilities curve d. None of the above
4. If a production possibilities curve is bowed out (i.e., concave) in appearance, production occurs under conditions of:
a. Constant opportunity costs b. Increasing opportunity costs c. Decreasing opportunity costs d. Zero opportunity costs
5. Increasing opportunity costs suggest that:
a. Resources are not perfectly shiftable between the production of two goods
b. Resources are fully shiftable between the production of two goods
c. A country’s production possibilities curve appears as a straight line
d. A country’s production possibilities curve is bowed inward (i.e., convex) in appearance
6. The trading-triangle concept is used to indicate a nation’s:
a. Exports, marginal rate of transformation, terms of trade b. Imports, terms of trade, marginal rate of transformation
c. Marginal rate of transformation, imports, exports d. Terms of trade, exports, imports
7. The earliest statement of the principle of comparative advantage is associated with:
a. Adam Smith b. David Ricardo c. Eli Heckscher d. Bertil Ohlin
8. When a nation achieves autarky equilibrium:
a. Input price equals final product price b. Labor productivity equals the wage rate
c. Imports equal exports d. Production equals consumption
9. The gains from international trade increase as:
a. A nation consumes inside of its production possibilities schedule
b. A nation consumes along its production possibilities schedule
c. The international terms of trade rises above the nation’s autarky price
d. The international terms of trade approaches the nation’s autarky price
10. Under free trade, Canada would not enjoy any gains from trade with Sweden if Canada:
a. Trades at the Canadian rate of transformation b. Trades at Sweden’s rate of transformation
c. Specializes completely in the production of its export good d. Specializes partially in the production of its export good
11. A rise in the price of imports or a fall in the price of exports will:
a. Improve the terms of trade b. Worsen the terms of trade
c. Expand the production possibilities curve d. Contract the production possibilities curve
12. A term-of-trade index that equals 90 indicates that compared to the base year:
a. It requires a greater output of domestic goods to obtain the same amount of foreign goods
b. It requires a lesser amount of domestic goods to obtain the same amount of foreign goods
c. The price of exports has fallen from $100 to $90
d. The price of imports has fallen from $100 to $90
13. The use of indifference curves helps us determine the point:
a. Along the production possibilities curve a country will choose b. At which a country maximizes its resource productivity
c. At which a country ceases to become competitive d. Where the marginal rate of transformation approaches zero
14. The equilibrium prices and quantities established after trade are fully determinate if we know:
a. The location of all countries’ indifference curves b. The shape of each country’s production possibilities curve
c. The comparative costs of each trading partner d.The strength of world supply and demand for each good
15. In the absence of trade, a nation is in equilibrium where a community indifference curve:
a. Lies above its production possibilities curve b. Is tangent to its production possibilities curve
c. Intersects its production possibilities curve d. Lies below its production possibilities curve
16. Which of the following is false concerning indifference curves?
a. They illustrate how the nation ranks alternative consumption bundles b. Higher curves refer to more satisfaction
c. They are negatively sloped, being bowed out away from the diagram’s origin
d. They reflect the tastes and preferences of a consumer
17. The marginal rate of substitution is measured by the absolute value of the slope of a (an):
a. Production possibilities curve b. Indifference curve c. Production possibilities curve d. Demand curve
18. According to Staffan Linder, trade between two countries tends to be most pronounced when the countries:
a. Find their tastes and preferences to be quite harmonious
b. Experience economies of large-scale production over large output levels
c. Face dissimilar relative abundances of the factors of production
d. Find their per capita income levels to be approximately the same
19. Which of the following is a long-run theory, emphasizing changes in the trading position of a nation over a number of years?
a. Theory of factor endowments b.Comparative advantage theory c.Theory of the product cycle d.Overlapping demand theory
20. The Leontief paradox questioned the validity of the theory of:
a. Comparative advantage b. Factor endowments c. Overlapping demands d. Absolute advantage
21. When considering the effects of transportation costs, the conclusions of our trade model must be modified. This is because transportation costs result in:
a. Lower trade volume, higher import prices, smaller gains from trade
b. Lower trade volume, lower import prices, smaller gains from trade
c. Higher trade volume, higher import prices, smaller gains from trade
d. Higher trade volume, lower import prices, greater gains from trade
22. Eli Heckscher and Bertil Ohlin are associated with the theory of comparative advantage that stresses differences in:
a. Income levels among countries b. Tastes and preferences among countries
c. Resource endowments among countries d. Labor productivities among countries
23. A firm is said to enjoy economies of scale over the range of output for which the long-run average cost is:
a. Increasing b. Constant c. Decreasing d. None of the above
24. Which of the following best applies to the theory of overlapping demands?
a. Manufactured goods b. Services c. Primary products d. None of the above
25. Which trade theory is tantamount to a short-run version of the factor price equalization theory?
a. Specific factors theory b. Product life cycle theory c. Economies of scale theory d. Overlapping demand theory
26. Intraindustry trade can be explained in part by:
a. Adam Smith’s principle of absolute advantage b. Perfect competition in product markets
c. Diseconomies of large scale production d. Transportation costs between and within nations
27. Which of the following would least likely apply to the product life cycle theory?
a. Calculators and computers b. Coal and crude oil c. Home movie cameras d. Office machinery
28. According to the factor endowment model, countries heavily endowed with land will:
a. Devote excessive amounts of resources to agricultural production c. Export products that are land-intensive
b. Devote insufficient amounts of resources to agricultural production d. Import products that are land-intensive
29. Given free trade, small nations tend to benefit the most from trade since they:
a. Are more productive than their large trading partners b. Are less productive than their large trading partners
c. Have demand preferences and income levels lower than their large trading partners
d. Enjoy terms of trade lying near the opportunity costs of their large trading partners
30. The terms of trade is given by the prices:
a. Paid for all goods imported by the home country b. Received for all goods exported by the home country
c. Received for exports and paid for imports d. Of primary products as opposed to manufactured products
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