萨尔瓦多国际经济学-复习选择题.pdf

MULTIPLE CHOICE Ch1-Ch6Choose the one alternative that best completes the statement or answers the question.A rough measure of the degree of economic interdependence of a nation is given by:a.the size of the nations populationb.the percentage of its population to its GDPc.the percentage of a nations imports and exports to its GDPd.all of the in the United States.2.Economic interdependence is greater for:a.small nationsb.large nationsc.developed nationsd.developing nations 3.The gravity model of international trade predicts that trade between two nations is largera.the larger the two nationsb.the closer the nations c.the more open are the two nationsd.all of the above4.The Mercantilists believed in a.running trade surplusesb.balanced tradec.the logic of Adam Smithd.no government intervention in markets.5.The theory of comparative advantage was first proposed by a.Adam Smithb.David Ricardoc.J.M.Keynesd.Paul Krugman6.With one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y(and labor is the only input).The range of mutually beneficial trade between nation A and B is:a.3Y 3X 5Y b.5Y 3X 9Y c.3Y 3X 9Y d.1Y 3X 3Y7.If domestically 3X=3Y in nation A,while 1X=1Y domestically in nation B:a.there will be no trade between the two nations b.the relative price of X is the same in both nations c.the relative price of Y is the same in both nations d.all of the above 8.Ricardo explained the law of comparative advantage on the basis of:a.the labor theory of value b.the opportunity cost theory c.the law of diminishing returns d.all of the above9.A difference in relative commodity prices between two nations can be based upon a difference in:a.factor endowments b.technology c.tastes d.all of the above10.International trade theory refers to:a.the microeconomic aspects of international trade b.the macroeconomic aspects of international trade c.open economy macroeconomics or international finance d.all of the above11.Which of the following is not an assumption generally made in the study of international economics?a.two nations b.two commodities c.perfect international mobility of factors d.two factors of production12.A production frontier that is concave from the origin indicates that the nation incurs increasing opportunity costs in the production of:modity X only modity Y only c.both commodities d.neither commodity13.Which of the following is not a reason for increasing opportunity costs?a.technology differs among nationsb.factors of production are not homogeneousc.factors of production are not used in the same fixed proportion in the production of all commoditiesd.for the nation to produce more of a commodity,it must use resources that are less and less suited in the production of the commodity 14.At a relative commodity price above equilibriuma.the excess demand for a commodity exceeds the excess supply of the commodityb.the quantity demanded of imports exceeds the quantity supplied of exportsc.the world price of the commodity will falld.the excess demand for the commodity will increase.15.The offer curve of a nation curves toward the axis measuring the nations a.import commodity b.export commodity c.export or import commodity d.nontraded commodity 16.If the terms of trade of a nation are 1.5 in a two-nation world,those of the trade partner are:a.3/4 b.2/3 c.3/2 d.4/317.If the nations taste for its import commodity increases:a.the nations terms of trade remain unchanged.b.the nations terms of trade deteriorate.c.the partners terms of trade deteriorate.d.the partners terms of trade improve.18.If a nations terms of trade improve,the nations social welfare a.will deteriorate.b.will improve.c.will remain unchanged.d.might improve,deteriorate,or remain unchanged.19.All other things equal,if a nations terms of trade deteriorate,to maintain the same quantity of imports,the nationa.will have to export a greater quantity of goods.b.will have to export a smaller quantity of goods.c.could increase or decrease its exports.will have to accept a lower standard of living.20.Which of the following situations would violate the assumptions of the H-O model?a.Doubling all inputs doubled the production of all outputs.b.Nation 1 has technology that is different from Nation 2.c.Nation 1s trade is balanced.d.Nation 2 does not completely specialize in either good.21.We say that commodity Y is K-intensive with respect to X when:a.more K is used in the production of Y than X b.less L is used in the production of Y than X c.a lower L/K ratio is used in the production of Y than X d.a higher K/L is used in the production of X than Y22.When w/r falls,L/Ka.falls in the production of both commoditiesb.rises in the production of both commoditiesc.can rise or falld.is not affected23.A nation is said to have a relative abundance of K if it has a:a.greater absolute amount of K b.smaller absolute amount of L c.higher L/K ratio d.lower r/w24.A difference in relative commodity prices between nations can be based on a difference in:a.technology b.factor endowments c.tastes d.all of the above25.According to the H-O model,trade reduces international differences in:a.relative but not absolute factor pricesb.absolute but not relative factor pricesc.both relative and absolute factor pricesd.neither relative nor absolute factor prices26.The Leontief paradox refers to the empirical finding that U.S.a.import substitutes are more K-intensive than exports b.imports are more K-intensive than exports c.exports are more L-intensive than imports d.exports are more K-intensive than import substitutes27.The factor price equalization theorem states that international trade will bring about equalization in a.relative returns only b.absolute returns only c.both relative and absolute returns d.neither absolute nor relative returns 28.International trade will _ the price of a nations abundant resources and _ the price of a nations scarce resources a.increase;increase b.decrease;decrease c.decrease;increase d.increase;decrease 29.According to the factor price equalization theorem,a nation that has a relative capital abundance should specialize in goods that are _ intensive resulting in an increase in the price of _.a.capital;capital b.capital;labor c.labor;capital d.labor;labor30.Which of the following assumptions of the Heckscher-Ohlin theory,when relaxed,require new trade theories?a.Economies of scale b.incomplete specialization c.similar tastes in both nations d.the existence of transportation costs 31.International trade can be based on economies of scale even if both nations have identical:a.factor endowments b.tastes c.technology d.all of the above32.External economies refers toa.an increase in inputs that leads to a more than proportional increase in outputs.b.a reduction in the average cost of production as the firm expands.c.a reduction in firms average cost of production as the industry expands.d.a reduction in the world cost of production as international trade increases.33.The theory that a nation exports those products for which a large domestic market exists was advanced by:a.Linder b.Vernon c.Leontief d.Ohlin34.When a nation has increasing returns to scale,the shape of its production possibility frontier is a.linear b.concave to the origin c.convex to the origin d.discontinuous35.Increasing returns to scale means that a.doubling all inputs leads to a more than proportional increase in output.b.doubling all inputs leads to a proportional increase in output.c.doubling all inputs leads to a less than proportional increase in output.d.doubling all inputs leads to a decrease in output.