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起止时间:2021-09-05到2022-01-10
更新状态:每周周末更新
Chapter 2 Comparative Advantage Test for comparative advantage
1、 When Adam Smith presented his theory of absolute advantage, he thought that all value was measured in terms of the amount of _ used in the production of the good.
A:land
B:labor
C:capital
D:money
答案: labor
2、 The Mercantilists did not advocate:
A:stimulating the nation’s exports
B:free trade
C:restricting the nations’ imports
D:the accumulation of gold by the nation
答案: free trade
3、 If with one hour of labor time nation A can produce either 3X or 3Y while nation B canproduce 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 commodity X
4、 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 above
答案: the labor theory of value
5、 The commodity in which the nation has the smallest absolute disadvantage is the commodity of its comparative disadvantage.
A:正确
B:错误
答案: 错误
6、 The trade theories of Adam Smith and David Ricardo viewed the determination ofcompetitiveness from the demand side of the market.
A:正确
B:错误
答案: 错误
7、 The mercantilists contended that because one nation’s gains from trade come the expense of its trading partners, not all nations could simultaneously realize gains from trade.
A:正确
B:错误
答案: 正确
8、 In the Wealth of Nations, Adam Smith presented his theory of comparative advantage.
A:正确
B:错误
答案: 错误
Chapter 3 The Standard Trade Model A quiz for standard trade model
1、 A production frontier that is concave indicates that the nation incurs increasing opportunitycosts in the production of:
A:commodity X only
B:commodity Y only
C:both commodities
D:neither commodity
答案: both commodities
2、 The marginal rate of transformation (MRT) of X for Y refers to:
A:the amount of Y that a nation must give up to produce each additional unit of X
B:the opportunity cost of X
C:the absolute slope of the production frontier at the point of production
D:all of the above
答案: all of the above
3、 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
4、 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 thesame 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 higherindifference curve
D:amount of Y that a nation must give up for one extra unit of X to reach a higherindifference 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
5、 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
6、 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
7、 If actual Px/Py exceeds the equilibrium relative Px/Py with trade
A:the nation exporting commodity X will want to export more of X than at equilibrium
B:the nation importing commodity X will want to import less of X than at equilibrium
C:Px/Py will fall toward the equilibrium Px/Py
D:all of the above
答案: all of the above
8、 If the terms of trade increase in a two-nation world, those of the trade partner:
A:deteriorate
B:improve
C:remain unchanged
D:any of the above
答案: deteriorate
9、 Mutually beneficial trade cannot occur if production frontiers are:
A:equal but tastes are not
B:different but tastes are the same
C:different and tastes are also different
D:the same and tastes are also the same
答案: the same and tastes are also the same
10、 Given a two-country and two-product world, the United States would enjoy all the attainable gains from free trade with Canada if it:
A:Trades at the U.S. rate of transformation
B:Trades at the Canadian rate of transformation
C:Specializes completely in the production of both goods
D:Specializes partially in the production of both goods
答案: Trades at the Canadian rate of transformation
11、 The terms of trade is given by:
A:(Price of exports/price of imports) – 100
B:(Price of exports/price of imports) + 100
C:(Price of exports/price of imports) ÷ 100
D:(Price of exports/price of imports) × 100
答案: (Price of exports/price of imports) × 100
12、 A terms-of-trade index that equals 150 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 risen from $100 to $150
D:The price of imports has risen from $100 to $150
答案: It requires a lesser amount of domestic goods to obtain the same amount of foreign goods
Chapter 4 The Heckscher-Ohlin and Other Trade Theories(1) One quiz for H-O Theory
1、 A nation is said to have a relative abundance of K if it has a:
A:higher L/K ratio
B:lower price of K in relation to the price of L
C:smaller absolute amount of L
D:greater absolute amount of K
答案: lower price of K in relation to the price of L
2、 In the H-O model, international trade is based mostly on a difference in:
A:technology
B:economies of scale
C:tastes
D:factor endowments
答案: factor endowments
3、 According to the H-O theory, trade reduces international differences in:
A:commodity prices
B:factor prices
C:both commodity and factor prices
D:neither relative nor absolute factor prices
答案: both commodity and factor prices
4、 According to the Stolper-Samuelson theorem, international trade leads to
A:reduction in the real income of the nation’s relatively abundant factor
B:increase in the real income of the nation’s relatively scarce factor
C:reduction in the real income of the nation’s relatively scarce factor
D:none of the above
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