国际经济学习题解答English.docx
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国际经济学习题解答English.docx
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国际经济学习题解答English
习题选答
第1章
6.
(1)消费者需求理论揭示,当一种商品价格上升时,该商品的需求量减少,。
(2)当国内消费者面对的进口商品价格上升时,该商品的出口需求量将会减少。
7、
(1)政府可以通过减少政府支出和(或)增加税收来减少财政逆差。
(2)政府可以通过对进口商品征税和(或)对出口补贴,增加国外借款或教师国外贷款,以及降低国民收入水平来减少或消除国际收支逆差。
10.
国际贸易给消费者带来商品的低价格,但是损害了国内竞争厂商的利益。
通常,那些厂商联合起来对政府施加压力,要求限制进口。
通常消费者数量多,但缺乏组织。
并且每个人只从进口限制中受到很小的损失,因而政府往往屈服于厂商的压力而对进口施加限制。
第2章
2、IncaseA,theUnitedStateshasacomparativeadvantageinwheatandtheUnitedKingdomincloth.
IncaseB,theUnitedStateshasacomparativeadvantageinwheatandtheUnitedKingdomincloth.
IncaseC,theUnitedStateshasacomparativeadvantageinwheatandtheUnitedKingdomincloth.
IncaseD,theUnitedStatesandtheUnitedKingdomhaveacomparativeadvantageinneithercommodities.
4.a)TheUnitedStatesgains1C.
b)TheUnitedKingdomgains4C.
c)3C<4W<8C.
d)TheUnitedStateswouldgain3CwhiletheUnitedKingdomwouldgain2C.
10.IfDW(US+UK)intersectedSW(US+UK)atPW/PC=2/3and120WintheleftpanelofFigure2.3,thiswouldmeanthattheUnitedStateswouldnotbespecializingcompletelyintheproductionofwheat.
TheUnitedKingdom,ontheotherhand,wouldbespecializingcompletelyintheproductionofclothandexchanging20Cfor30WwiththeUnitedStates.SincetheUnitedKingdomtradesatU.S.thepre-traderelativecommoditypriceofPW/PC=2/3intheUnitedStates,theUnitedKingdomreceivesallofthegainsfromtrade.
第三章
3
(1)a)SeeFigure3
b)Nation1hasacomparativeadvantageinXandNation2inY.
c)Iftherelativecommoditypricelinehasequalslopeinbothnations.
4.a)SeeFigure4.
b)Nation1gainsbytheamountbywhichpointEistotherightandabovepointAand
Nation2bytheexcessofE'overA'.Nation1gainsmorefromtradebecausetherelativepriceofXwithtradediffersmorefromitspretradepricethanforNation2.
7.SeeFigure6.
ThesmallnationwillmovefromAtoBinproduction,exportsXinexchangeforYsoas
toreachpointE>A.
第四章
6、a)SeeFigure5.
b.)ThequantityofimportsdemandedbyNation1atPF'exceedsthequantityofexportsofYsuppliedbyNation2.Therefore,Px/Pydeclines(Py/Pxrises)untilthequantity
demandedofimportsofYbyNation1equalsthequantityofexportsofYsuppliedbyNation2atPB=PB'.
c.)Thebackwardbending(i.e.,negativelysloped)segmentofNation1'soffercurveindicatethatnation1iswillingtogiveuplessofXforlargeramountsofY.
8.SeeFigure7.
FromtheleftpanelofFigure4.4,weseethatNation2doesnotexportanyamountofcommodityYatPx/Py=4,orPy/Px=1/4.ThisgivespointAonNation2'ssupplycurveoftheexportsofcommodityY(S).FromtheleftpanelofFigure4.4,wealsoseethatatPx/Py=2orPy/Px=1/2,Nation2exports40Y.ThisgivespointHonS.OtherpointonScouldsimilarlybederived.NotethatSinFigure7isidenticaltoSinFigure4.6inthetextshowingNation1'sexportsofcommodityX.
FromtheleftpanelofFigure4.3,weseethatNation1demands60YofNation2'seexportsatPx/Py=Py/Px=1.ThisgivespointEonNation1'sdemandcurveofNation2'sexportsofcommodityY(D).FromtheleftpanelofFigure4.3,wecanestimatethatNation1demands40YatPy/Px=3/2(pointHonDinFigure7)and120YatPy/Px=2(pointH'onD).
TheequilibriumrelativecommoditypriceofcommodityYisPy/Px=1.ThisisdeterminedattheintersectionofDandSinFigure7.AtPy/Px=3/2,thereisanexcesssupplyofR'R=30YandPy/PxfallstoPy/Px=1.Ontheotherhand,atPy/Px=1/2,thereisanexcessdemandofHH'=80YandPy/PxrisestoPy/Px=1.NotealsothatFigure7issymmetricalwithFigure4.6inthetext.
10.SeeFigure8onpage36.
InFigure8,Nation2isthesmallnationandwemagnifiedtheportionoftheoffercurve
ofNation1(thelargenation)neartheorigin(whereNation1'soffercurvecoincideswithPA=1/4,Nation1'spretraderelativecommoditypricewithtrade).ThismeansthatNation2canimportasufficientlysmallquantityofcommodityXwithoutperceptiblyaffectingPx/PyinNation1.Thus,Nation2isapricetakerandcapturesallofthebenefitsfromitstradewithNation1.ThesamewouldbetrueevenifNation2werenotasmallnation,aslongasNation1facedconstantopportunitycostsanddidnotspecializecompletelyintheproductionofcommodityXwithtrade.
第五章
4.SeeFigure4onpage46.
7.SeeFigure6.
13.a)SeeFigure7.
b)Factor-intensityreversalcouldoccurifthesubstitutabilityofKforLintheproduction
ofXwasmuchgreaterthanforYandr/wwaslowerinNation2thaninNation1.
c)Minhasfoundfactor-intensityreversaltobefairlyfrequent.However,bycorrectingan
importantsourceofbiasintheMinhasstudy,Leontiefshowedthatfactor-intensity
reversalwasmuchlessfrequent.BalltestedanotheraspectofMinhas'conclusionand
confirmedLeontief'sresultsthatfactor-intensityreversalwasrareintherealworld.
第6章
1.SeeFigure1.
6.SeeFigure4.
TheACandtheMCcurvesinFigure4arethesameasinFigure6-2.However,Dandthe
correspondingMRcurvearehigherontheassumptionthatotherfirmshavenotyetimitated
thisfirm'sproduct,reduceditsmarketshare,orcompetedthisfirm'sprofitsaway.InFigure
4,MR=MCatpointE,sothatthebestlevelofoutputofthefirmis5unitsandpriceis
$4.50.SinceatQ=5,AC=$3.00,thefirmearnsaprofitofAB=$2.00perunitand$10.00
intotal.
14.SeeFigure8.
第七章(略)
第8章
4.g=0.4-(0.5)(0.4)=0.4-0.2=0.2=40%
1.0-0.50.50.5
7.SeeFigure2.
8.WhenNation1(assumedtobeasmallnation)imposesanimporttariffoncommodityY,therealincomeoflaborfallsandthatofcapitalrises.
第九章
2.Thepartialequilibriumeffectsoftheimportquotaare:
Px=$1.50;consumptionis45X,ofwhich15Xareproduceddomestically;
byauctioningoffimportlicenses,therevenueeffectwouldbe$15.
3.Thepartialequilibriumeffectsoftheimportquotaare:
Px=$2.50;consumptionis40X,ofwhich10Xareproduceddomestically;
therevenueeffectis$45.
11.a)ThemonopolistshouldchargeP1=$4inthedomesticmarketandP2=$3inFigure9-5inAppendixA9.2.
b)Thisrepresentsthebest,oroptimaldistributionofsalesbetweenthetwomarketsbecauseanyotherdistributionofsalesinthetwomarketsgiveslessrevenue.
第十章
1.IfNationAimposesa100percentadvaloremtariffonimportsofcommodityXfrom
NationBandNationC,NationAwillproducecommodityXdomesticallybecausethe
domesticpriceofcommodityXis$10ascomparedwiththetariff-inclusivepriceof
$16ifNationAimportedcommodityXfromNationBand$12ifNationAimported
commodityXfromnationC.
2.a)IfNationAformsacustomsunionwithNationB,NationAwillimportcommodity
XfromNationBatthepriceof$8insteadofproducingititselfat$10orimportingit
fromNationCatthetariff-inclusivepriceof$12.
b)WhenNationAformsacustomsunionwithNationBthiswouldbeatrade-creating
customsunionbecauseitreplacesdomesticproductionofcommodityXatPx=$10
withtariff-freeimportsofcommodityXfromNationBatPx=$8.
3.IfNationAimposesa50percentadvaloremtariffonimportsofcommodityXfrom
NationBandNationC,NationAwillimportcommodityXfromnationCatthetariff-
inclusivepriceof$9insteadofproducingcommodityXitselforimportingitfrom
NationBatthetariff-inclusivepriceof$12.
第十一章(略)
第十二章(略)
第十三章
1.a.TheU.S.debitsitscurrentaccountby$500(forthemerchandiseimports)andcreditscapitalbythesameamount(fortheincreaseinforeignassetsintheU.S.).
TheU.S.creditscapitalby$500(thedrawingdownofitsbankbalancesinLondon,acapitalinflow)anddebitscapitalbyanequalamount(tobalancethecapitalcreditthattheU.S.importerreceivedwhentheU.K.exporteracceptedtobepaidinthreemonths).
TheU.S.isleftwitha$500debitinitscurrentaccountandanetcreditbalanceof$500initscapitalaccount.
6.TheU.S.creditsitscapitalaccountby$400(forthepurchaseoftheU.S.treasurybillsbytheforeignresident)anddebitsitscapitalaccount(forthedrawingdownoftheforeignresident'sbankbalancesintheUnitedStates)forthebythesameamount.
7.TheU.S.debitsitscurrentaccountby$40fortheinterestpaid,debitsitscapitalaccountby$400(forthecapitaloutflowfortherepaymentoftherepaymentoftheprincipaltotheforeigninvestorsbytheU.S.borrower),andthencreditsitscapitalaccountby$440(theincreaseinforeignholdingsofU.S.assets,acredit).
第十四章
5.a.Thepoundisatathree-monthforwardpremiumof1cor0.5%(or2%/year)with
respecttothedollar.
b.Thepoundisatathree-monthforwarddiscountof4cor2%(or8%/year)with
respecttothedollar.
9.ThespeculatorcanspeculateintheforwardexchangemarketbypurchasingpoundsforwardfordeliveryinthreemonthsatFR=$2/£1.
Ifthespeculatoriscorrect,hewillearn5cperpoundpurchased.
11.Theinterestarbitrageurwillearn2%peryearfromthepurchaseofforeignthree-monthtreasurybillsifhecoverstheforeignexchangerisk.
第十五章
7.Md=100/4=25fallsshortofMs=30andtherewillbeanoutflowofinternationalreserves(adeficitinthenation'sbalanceofpayments).
9.(a)Theconditionforuncoveredinterestparityisgivenbyi-i*=EA,whereEAisthe
expectedappreciationofthepound.Thatis,sincethespotrateofSR=$2.02/£1in
threemonthsis1%(4%onanannualbasis)higherthanSR=$2.00/£1today,the
conditionforUIAissatisfiedbecause6%-10%=4%(withall
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