Answer: A
In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirements
one
two
three
A.
four
B.
five
Answer: D
7.
A country engaging in trade according to the principles of comparative advantage gains from trade because it
is producing exports indirectly more efficiently than it could alternatively.
is producing imports indirectly more efficiently than it could domestically.
is producing exports using fewer labor units.
is producing imports indirectly using fewer labor units.
None of the above.
Answer: B
8.
A nation engaging in trade according to the Ricardian(李嘉图) model will find its consumption bundle(消费约束)
inside its production possibilities frontier.
on its production possibilities frontier.
outside its production possibilities frontier.(生产可能性边界)
inside its trade-partner's production possibilities frontier.
on its trade-partner's production possibilities frontier.
Answer: C
9.
If a very small country trades with a very large country according to the Ricardian model, then
the small country will suffer a decrease in economic welfare.
the large country will suffer a decrease in economic welfare.
the small country will enjoy gains from trade.
the large country will enjoy gains from trade.
None of the above.
Answer: C
10.
If the world terms of trade for a country are somewhere between the domestic cost ratio of H and that of F, then
country H but not country F will gain from trade.
country H and country F will both gain from trade.
neither country H nor F will gain from trade.
only the country whose government subsidizes its exports will gain.
None of the above.
Answer: B11.
If a production possibilities frontier is bowed out (concave to the origin)(上凸,凹面向原点), then production occurs under conditions of
constant opportunity costs.
increasing opportunity costs.(机会成本递增)
decreasing opportunity costs.
infinite opportunity costs.
None of the above.
Answer: B12.
If two countries have identical production possibility frontiers, then trade between them is not likely if
their supply curves are identical.
their cost functions are identical.
their demand conditions identical.
their incomes are identical.
None of the above.
Answer: E
13.
Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour.
Production costs would be lower in the United States as compared to Japan if
U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour.
U.S. productivity equaled 30 units per hour whereas Japan's was 20.
U.S. labor productivity equaled 20 and Japan's 30.
U.S. labor productivity equaled 15 and Japan's 25 units per hour.
None of the above.
Answer: A
14.
International trade has strong effects on income distributions(收入分配效应,包括国内各个利益主体之间、国与国之间。).
Therefore, international trade
is beneficial to everyone in both trading countries.
will tend to hurt one trading country.
will tend to hurt some groups in each trading country.
will tend to hurt everyone in both countries.
will be beneficial to all those engaged in international trade.
Answer: C15.
If the price of the capital intensive product rises(资本密集品价格上涨), wages will
rise but by less than the price of the capital-intensive product.(工资刚性,变动较慢)
rise by more than the rise in the price of the capital-intensive product.
remain proportionally equal to the price of the capital-intensive product.