国际经济与贸易题目英语版.docx
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国际经济与贸易题目英语版.docx
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国际经济与贸易题目英语版
CHAPTER1
THEINTERNATIONALECONOMY
MULTIPLE-CHOICEQUESTIONS
1.Aprimaryreasonwhynationsconductinternationaltradeisbecause:
b
a.Somenationsprefertoproduceonethingwhileothersproduceotherthings
b.Resourcesarenotequallydistributedamongalltradingnations
c.Tradeenhancesopportunitiestoaccumulateprofits
d.Interestratesarenotidenticalinalltradingnations
2.Amainadvantageofspecializationresultsfrom:
a
a.Economiesoflarge-scaleproduction
b.Thespecializingcountrybehavingasamonopoly
c.Smallerproductionrunsresultinginlowerunitcosts
d.Highwagespaidtoforeignworkers
3.Internationaltradeingoodsandservicesissometimesusedasasubstituteforallofthefollowingexcept:
d
a.Internationalmovementsofcapital
b.Internationalmovementsoflabor
c.Domesticproductionofthesamegoodsandservices
d.Domesticproductionofdifferentgoodsandservices
4.Ifanationhasanopeneconomy,itmeansthatthenation:
d
a.Allowsprivateownershipofcapital
b.Hasflexibleexchangerates
c.Hasfixedexchangerates
d.Conductstradewithothercountries
5.Internationaltradeforcesdomesticfirmstobecomemorecompetitiveintermsof:
d
a.Theintroductionofnewproducts
b.Productdesignandquality
c.Productprice
d.Alloftheabove
6.Themovementtofreeinternationaltradeismostlikelytogenerateshort-termunemploymentinwhichindustries?
b
a.Industriesinwhichthereareneitherimportsnorexports
b.Import-competingindustries
c.Industriesthatselltodomesticandforeignbuyers
d.Industriesthatselltoonlyforeignbuyers
7.Internationaltradeisbasedontheideathat:
d
a.Exportsshouldexceedimports
b.Importsshouldexceedexports
c.Resourcesaremoremobileinternationallythanaregoods
d.Resourcesarelessmobileinternationallythanaregoods
8.Argumentsforfreetradearesometimesdisregardedbypoliticiansbecause:
b
a.Maximizingdomesticefficiencyisnotconsideredimportant
b.Maximizingconsumerwelfaremaynotbeachiefpriority
c.Thereexistsoundeconomicreasonsforkeepingone’seconomyisolatedfromothereconomies
d.Economiststendtofavorhighlyprotecteddomesticmarkets
9.Howmuchphysicaloutputaworkerproducersinanhour’sworkdependson:
d
a.Theworker’smotivationandskill
b.Thetechnology,plant,andequipmentinuse
c.Howeasytheproductistomanufacture
d.Alloftheabove
10.ThelargestamountoftradewiththeUnitedStatesinrecentyearshasbeenconductedby:
a
a.Canada
b.Germany
c.Mexico
d.UnitedKingdom
11.Increasedforeigncompetitiontendsto:
c
a.Intensifyinflationarypressuresathome
b.Inducefallingoutputperworker-hourfordomesticworkers
c.Placeconstraintsonthewagesofdomesticworkers
d.Increaseprofitsofdomesticimport-competingindustries
12.______a____istheabilityofafirm/industry,underfreeandfairmarketconditions,todesign,produce,andmarketgoodsandservicesthatarebetterand/orcheaperthanthoseofotherfirms/industries.
a.Competitiveness
b.Protectionism
c.Comparativeadvantage
d.Absoluteadvantage
13.Afirm’s______d____,relativetothatofotherfirms,isgenerallyregardedasthemostimportantdeterminantofcompetitiveness.
a.Incomelevel
b.Tastesandpreferences
c.Environmentalregulation
d.Productivity
14.Freetradersmaintainthatanopeneconomyisadvantageousinthatitprovidesallofthefollowingexcept:
d
a.Increasedcompetitionforworldproducers
b.Awiderselectionofproductsforconsumers
c.Theutilizationofthemostefficientproductionmethods
d.Relativelyhighwagelevelsforalldomesticworkers
15.RecentpressuresforprotectionismintheUnitedStateshavebeenmotivatedbyallofthefollowingexcept:
b
a.U.S.firmsshippingcomponentproductionoverseas
b.HighprofitlevelsforAmericancorporations
c.SluggishratesofproductivitygrowthintheUnitedStates
d.HighunemploymentratesamongAmericanworkers
TRUE-FALSEQUESTIONS
F1.ThetwomostimportanttradingpartnersoftheUnitedStatesareCanadaandMexico.
F2.TheUnitedStatesexportsalargerpercentageofitsgrossdomesticproductthanJapan,Germany,andCanada.
T3.Openingtheeconomytointernationaltradetendstolesseninflationarypressuresathome.
T4.Thebenefitsofinternationaltradeaccrueintheformsoflowerdomesticprices,developmentofmoreefficientmethodsandnewproducts,andagreaterrangeofconsumptionchoices.
F5.Inanopentradingsystem,acountrywillimportthosecommoditiesthatitproducesatrelativelylowcostwhileexportingcommoditiesthatcanbeproducedatrelativelyhighcost.
T6.Althoughfreetradeprovidesbenefitsforconsumers,itisoftenarguedthatimportprotectionshouldbeprovidedtodomesticproducersofstrategicgoodsandmaterialsvitaltothenation’ssecurity.
T7.Inthelongrun,competitivenessdependsonanindustry’snaturalresources,itsstockofmachineryandequipment,andtheskillofitsworkersincreatinggoodsthatpeoplewanttobuy.
T8.Ifanationhasanopeneconomy,itmeansthatthenationallowsprivateownershipofcapital.
F9.Increasedforeigncompetitiontendstoincreaseprofitsofdomesticimport-competingcompanies.
F10.RestrictivetradepolicieshaveresultedinU.S.producersofmineralsandmetalssupplyingalloftheU.S.consumers’needs.
ANSWERS
AnswerstoMultiple-ChoiceQuestions
1
.b
2.a
3.d
4.d
5.d
6.b
7.d
8.b
9.d
10.a
11.c
12.a
13.d
14.d
15.b
AnswerstoTrue-FalseQuestions
1.F
2.F
3.T
4.T
5.F
6.T
7.T
8.F
9.F
10.F
CHAPTER2
FOUNDATIONSOFMODERNTRADETHEORY
MULTIPLE-CHOICEQUESTIONS
1.Themercantilistswouldhaveobjectedto:
a.Exportpromotionpoliciesinitiatedbythegovernment
b.Theuseoftariffsorquotastorestrictimports
c.Tradepoliciesdesignedtoaccumulategoldandotherpreciousmetals
d.Internationaltradebasedonopenmarkets
2.Unlikethemercantilists,AdamSmithmaintainedthat:
a.Tradebenefitsonenationonlyattheexpenseofanothernation
b.Governmentcontroloftradeleadstomaximumeconomicwelfare
c.Allnationscangainfromfreeinternationaltrade
d.Theworld’soutputofgoodsmustremainconstantovertime
3.ThetradingprincipleformulatedbyAdamSmithmaintainedthat:
a.Internationalpricesaredeterminedfromthedemandsideofthemarket
b.Differencesinresourceendowmentsdeterminecomparativeadvantage
c.Differencesinincomelevelsgovernworldtradepatterns
d.Absolutecostdifferencesdeterminetheimmediatebasisfortrade
4.UnlikeAdamSmith,DavidRicardo’stradingprincipleemphasizesthe:
a.Demandsideofthemarket
b.Supplysideofthemarket
c.Roleofcomparativecosts
d.Roleofabsolutecosts
5.Whenanationrequiresfewerresourcesthananothernationtoproduceaproduct,thenationissaidtohavea(an):
a.Absoluteadvantageintheproductionoftheproduct
b.Comparativeadvantageintheproductionoftheproduct
c.Lowermarginalrateoftransformationfortheproduct
d.Loweropportunitycostofproducingtheproduct
6.Accordingtotheprincipleofcomparativeadvantage,specializationandtradeincreaseanation’stotaloutputsince:
a.Resourcesaredirectedtotheirhighestproductivity
b.Theoutputofthenation’stradingpartnerdeclines
c.Thenationcanproduceoutsideofitsproductionpossibilitiescurve
d.Theproblemofunemploymentiseliminated
7.Inatwo-product,two-countryworld,internationaltradecanleadtoincreasesin:
a.Consumerwelfareonlyifoutputofbothproductsisincreased
b.Outputofbothproductsandconsumerwelfareinbothcountries
c.Totalproductionofbothproducts,butnotconsumerwelfareinbothcountries
d.Consumerwelfareinbothcountries,butnottotalproductionofbothproducts
8.Asaresultofinternationaltrade,specializationinproductiontendstobe:
a.Completewithconstantcosts—completewithincreasingcosts
b.Completewithconstantcosts—incompletewithincreasingcosts
c.Incompletewithconstantcosts—completewithincreasingcosts
d.Incompletewithconstantcosts—incompletewithincreasingcosts
9.Anationthatgainsfromtradewillfinditsconsumptionpointbeinglocated:
a.Insideitsproductionpossibilitiescurve
b.Alongitsproductionpossibilitiescurve
c.Outsideitsproductionpossibilitiescurve
d.Noneoftheabove
UsingthedataofTable2.1,answerQuestions10through15.
Table2.1. OutputPossibilitiesfortheU.S.andtheU.K.
OutputperWorkerperDay
CountryTonsofSteelTelevisions
UnitedStates545
UnitedKingdom1020
10.RefertoTable2.1.TheUnitedStateshastheabsoluteadvantageintheproductionof:
a.Steel
b.Televisions
c.Bothsteelandtelevisions
d.Neithersteelnortelevisions
11.RefertoTable2.1.TheUnitedKingdomhasacomparativeadvantageintheproductionof:
a.Steel
b.Televisions
c.Bothsteelandtelevisions
d.Neithersteelnortelevisions
12.RefertoTable2.1.IftradeopensupbetweentheUnitedStatesandtheUnitedKingdom,Americanfirmsshouldspecializeinproducing:
a.Steel
b.Televisions
c.Bothsteelandtelevisions
d.Neithersteelnortelevisions
13.RefertoTable2.1.TheopportunitycostofproducingonetonofsteelintheUnitedStatesis:
a.3televisions
b.10televisions
c.20televisions
d.45televisions
14.RefertoTable2.1.MutuallyadvantageoustradewilloccurbetweentheUnitedStatesandtheUnitedKingdomsolongasonetonofsteeltradesfor:
a.Atleast1television,butnomorethan2televisions
b.Atleast2televisions,butnomorethan3televisions
c.Atleast3te
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