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Chap.1 Quiz 1
1、 1. International trade is most important to the standard of living of:
A:A. The U.S.A
B:B. Switzerland
C:C. Germany
D:D. England
答案: B. Switzerland
2、 2. Over time, the economic interdependence of nations has:
A:A. grown
B:B. diminished
C:C. remained unchanged
D:D. cannot say
答案: A. grown
3、 3. A rough measure of the degree of economic interdependence of a nation is given by:
A:A. the size of the nation’s population
B:B. the percentage of its population to its GDP
C:C. the percentage of a nation’s imports and exports to its GDP
D:D. all of the above
答案: C. the percentage of a nation’s imports and exports to its GDP
4、 4. International economics deals with:
A:A. the flow of goods, services and payments among nations
B:B. policies directed a regulating the flow of goods, services and payments
C:C. the effects of policies on the welfare of the nation
D:D. all of the above
答案: D. all of the above
5、 5. In the study of international economics:
A:A. international trade policies are examined before the bases for trade
B: B. adjustment policies are discussed before the balance of payments
C:C. the case of many nations is discussed before the two-nations case
D: D. none of the above
答案: D. none of the above
6、 6. International trade is similar to interregional trade in that both must overcome:
A: A. distance and space
B: B. trade restrictions
C: C. differences in currencies
D: D. differences in monetary systems
答案: A. distance and space
7、 7. Which of the following is not the subject matter of international finance?
A: A. foreign exchange markets
B:B. the balance of payments
C:C. the basis and the gains from trade
D:D. policies to adjust balance of payments disequilibria
答案: C. the basis and the gains from trade
8、 8. International trade theory refers to:
A:A. The microeconomic aspects of international economics
B:B. The macroeconomic aspects of international economics
C:C. Open economy macroeconomics or international finance;
D:D. All of the above.
答案: A. The microeconomic aspects of international economics
9、 9. The expansion of international trade usually affects all members of society:
A:A. positively
B:B. negatively
C:C. most positively but some negatively
D:D. most negatively but some positively
答案: C. most positively but some negatively
10、 10. Which of the following statements with regard to international economics is true?
A:A. It is a relatively new field
B:B. It is a relatively old field
C:C. Most of its contributors were not economists
D:D. None of the above
答案: B. It is a relatively old field
Chap.2 quiz 2
1、 The Mercantilists did not advocate
A:free trade
B:stimulating the nation’s exports
C:restricting the nation’s imports
D:the accumulation of gold by the nation
答案: free trade
2、 According to Adam Smith, international trade was
A:absolute advantage
B:comparative advantage
C:both absolute and comparative advantage
D:neither absolute nor comparative advantage
答案: absolute advantage
3、 The commodity in which the nation has the smallest absolute disadvantage is the commodity of its
A:absolute disadvantage
B:absolute advantage
C:comparative advantage
D:comparative disadvantage
答案: comparative advantage
4、 if a two-nation (A and B), two-commodity (X and Y) world, it is established that Nation A has a comparative advantage in commodity X, then Nation B must have:
A:an absolute advantage in commodity Y
B:an absolute disadvantage in commodity Y
C:a comparative disadvantage in commodity Y
D:a comparative advantage in commodity Y
答案: a comparative advantage in commodity Y
5、 If 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)
A:Nation A has a comparative disadvantage in commodity X
B:Nation B has a comparative disadvantage in commodity Y
C:Nation A has a comparative advantage in commodity X
D:Nation A has a comparative advantage in neither commodity
答案: Nation A has a comparative advantage in neither commodity
6、 With reference to the statement in Question 5
A:Px/Py=1 in Nation A
B:Px/Py=3 in Nation B
C:Py/Px=1/3 in Nation B
D:All of the above
答案: All of the above
7、 With reference to the statement in Question 6, if 3X is exchanged for 3Y
A:Nation A gains 2X
B:Nation B gains 6Y
C:Nation A gains 3Y
D:Nation B gains 3Y
答案: Nation B gains 6Y
8、 with reference to the statement of Question 5, 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<3Y
答案: 3Y<3X<9Y
9、 If domestically 3X=3Y, while 1X=1Y domestically in nation B
A:There will be no trade .
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
答案: All of the above
10、 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 above
答案: All of the above
Chap. 3 quiz3
1、 Which of the following is not a reason for increasing opportunity costs:
A: technology differs among nations
B:factors of production are not homogeneous
C:factors of production are not used in the same fixed proportion in the production of all commodities
D: 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
答案: technology differs among nations
2、 The marginal rate of substitution (MRS) of X for Y in consumption refers to the:
A:amount of X that a nation must give up for one extra unit of Y and still remain on the same indifference curve
B:amount of Y that a nation must give up for one extra unit of X and still remain on the same indifference curve
C:amount of X that a nation must give up for one extra unit of Y to reach a higher indifference curve
D:amount of Y that a nation must give up for one extra unit of X to reach a higher indifference curve
答案: amount of Y that a nation must give up for one extra unit of X and still remain on the same indifference curve
3、 Nation 1’s share of the gains from trade will be greater:
A: the greater is nation 1’s demand for nation 2’s exports
B:the closer Px/Py with trade settles to nation 2’s pretrade Px/Py
C: the weaker is nation 2’s demand for nation 1’s exports
D:the closer Px/Py with trade settles to nation 1’s pretrade Px/Py
答案: the closer Px/Py with trade settles to nation 2’s pretrade Px/Py
4、 A production frontier that is concave from the origin indicates that the nation incurs increasing opportunity costs in the production of:
A:commodity X only
B:commodity Y only
C:both commodities
D:neither commodity
答案: both commodities
5、 Community indifference curves:
A:are negatively sloped
B:are convex to the origin
C:should not cross
D:all of the above
答案: all of the above
6、 With free trade under increasing costs：
A:neither nation will specialize completely in production
B:at least one nation will consume above its production frontier
C:a small nation will always gain from trade
D:all of the above
答案: all of the above
7、 Which of the following is not true for a nation that is in equilibrium in isolation?
A: it consumes inside its production frontier
B:it reaches the highest indifference curve possible with its production frontier
C:the indifference curve is tangent to the nation’s production frontier
D:MRT of X for Y equals MRS of X for Y, and they are equal to Px/Py
答案: it consumes inside its production frontier
8、 Which of the following statements is true with respect to the MRS of X for Y：
A:It is given by the absolute slope of the indifference curve
B:declines as the nation moves down an indifference curve
C:rises as the nation moves up an indifference curve
D:all of the above
答案: all of the above
9、 If the internal Px/Py is lower in nation 1 than in nation 2 without trade:
A:nation 1 has a comparative advantage in commodity Y
B:nation 2 has a comparative advantage in commodity X
C:nation 2 has a comparative advantage in commodity Y
D:none of the above
答案: nation 2 has a comparative advantage in commodity Y
10、 Which of the following statements about community indifference curves is true?
A: They are entirely unrelated to individuals’ community indifference curves
B: they cross, they cannot be used in the analysis
C:the problems arising from intersecting community indifference curves can be overcome by the application of the compensation principle
D:all of the above.
答案: the problems arising from intersecting community indifference curves can be overcome by the application of the compensation principle
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