国际经济学英文期末考试模拟试题含答案一、True or False (10*1’=10’)1. Trade is a zero-sum activity; if one country gains, the other must lose.2. A nation maximizes satisfaction by reaching the highest possible indifference curve, and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve.3. The factor endowments model predicts that international tradewill tend to equalize the prices of trade-able goods among nations, but to increase the wage gap between capital-abundant and labor-abundant nations.4. A tax of 10 percent on imports of shoes would be an example of a specific tariff.5. An import quota will not raise the domestic price of the product as would a tariff, because it is not a tax on imports.6. In balance-of-payments account, a transaction resulting in receipt of a payment is recorded as a credit, whereas a transaction resulting in a payment to other nations is recorded as a debit.7. Because they do not include an exchange of goods or services, unilateral transfers do not appear on a nation's balance of payments account.8. David Hume was one of the first economists to provide analytical support for mercantilist trade policies. 9. A nation would be mostlikely to find its trade balance improving after a currency depreciation if that nation’s demandfor imports and foreign demand for its exports was very inelastic.10. A nation with neither a balance of payments surplus nor a balance of payments deficit is said to be in internal balance. 二、choices(15*3’=45’)1. The law of comparative advantagea). was ratified by the World Trade Organization b). explains howall countries can benefit when each specializes in producing items in which it has the greatest relative efficiencyc). explains how only the most efficient nations can benefit from traded). is used to evaluate a country’s military strength2. The theory of absolute advantage was developed by a. the Mercantilistsb. David Humec. Adam Smithd. David Ricardo3. David Ricardo developed the principle of comparative advantage showing thata. a nation must be the least-cost producer of a good in order to export that itemb. no nation could have an absolute advantage in all goodsc. in a two-country example, only one nation can have a comparative advantaged. even a nation that has lower productivity in all goods canbenefit by exporting the item in which it is relatively less inefficient4. An indifference curvea. shows that most people really are indifferent about international tradeb. shows the demand preferences of consumersc. reflects the relative costs of production within a nationd. indicates how much labor a country has5. To maximize its satisfaction, a nation will ensure that itsterms-of-trade linea. is tangent to its production possibilities frontier at one point (production point) and also to the highest attainable indifference curve at another point (consumption point)b. is tangent to its production possibilities frontier andintersects an indifference curvec. intersects its production possibilities frontier and is tangentto an indifference curved. intersects its production possibilities frontier at one point and an indifference curve at another point 6. Factor-price equalization predicts that with international tradea. the price of a nation’s abundant factor will rise and that ofits scarce factor will fallb. the price of a nation’s abundant factor will fall and that ofits scarce factor will risec. the prices of a nation’s abundant and scarce factors bothwill rised. the prices of a nation’s abundant and scarce factors bothwill fall7. The effective rate of protectiona. distinguishes between tariffs that are effective and those that are ineffectiveb. is the minimum level at which a tariff becomes effective in limiting importsc. shows the increase in value-added for domestic productionthat a particular tariff structure makes possible, in percentage termsd. shows how effective a tariff is in raising revenue 8. The institutional framework developed in 1947 to promote tradeliberalization is known asa. the GATTb. the WTOc. the IMFd. The World Bank9. Developing nationsa. have very limited involvement in international tradeb. trade mostly with each otherc. rely heavily on exports of primary products to industrial nationsd. rely heavily on exports of manufactured products 10. A customs union is unique in that ita. has no tariffs on trade among member nationsb. has no tariffs on trade among member nations and a common set of tariffs on imports from non-membersc. has no tariffs on trade among member nations, a common set of tariffs on imports from non-members, and free mobility of factors of production such as labor and capital among membersd. allows unrestricted labor immigration from non-member nations11. A nation's balance of payments statementa. is a record of that nation's assets abroad and its liabilities to those from other nationsb. is an accounting adjustment process ensuring that a nation's exports will be equal to its importsc. does not include transactions of foreign citizens or companies living or operating within that nationd. is a record of the economic transactions between residents of that nation and the rest of the world, usually for a period of one year.12. Since balance-of-payments accounting is a double-entry accounting system, an export of U.S. wheat to Mexico paid for by a deposit to the U.S. exporters account in a Mexican bank would be recorded on the U.S. balance of payments as a. a credit for merchandise exports and a credit to short-term financial flowsb. a credit for merchandise exports and a debit to short-term financial flows.c. a credit for merchandise exports and a debit to unilateral transfersd. a credit for merchandise exports and a debit to officialsettlements13. The foreign-exchange marketa. is located in New Yorkb. is a market in Chicago for the international trading of commodities such as wheat or copper.c. is a mechanism for individuals and institutions to exchange one national or regional currency or debt instrument for those of other nations or regions.d. is open from 9:00 a.m. to 3:00 p.m. New York time, Monday through Friday.14. Market fundamentals that might be expected to influence exchange rate movements include all of the following factors excepta. differences in real income growth rates between countriesb. differences in real interest rates between countriesc. speculative opinion about future exchange ratesd. changes in perceivedprofitability of economic investments between two countries15. If inflation is higher in Mexico than in the United States, the law of one price would predict thata. trade between Mexico and the United States would declineb. the dollar price of autos purchased in Mexico would be higherthan the dollar price of comparable autos purchased in the United Statesc. the peso would appreciate relative to the dollar by an amount equal in percentage terms to the difference between the two inflation ratesd. the peso would depreciate relative to the dollar by an amount equal in percentage terms to the difference between the two inflation rates三、Questions(45’, answer these questions in Chinese)1. Assume that labor is the only factor used in production, and that the costs of producing butter and cloth are given by the tablebelow.(8’)Cost in labor-hours toHome Foreignproduce1 unit of butter 1/8 11 unit of cloth 1/4 1/2(1) Express the price of butter relative to the price of cloth in terms of labor content for Home and Foreign in the absence of trade.(2) What do these relative prices reveal about each country’scomparative advantage?(3) What do these relative prices suggest about the world priceof butter relative to cloth that will exist once these countries trade with each other?(4) If the world price stabilizes at 1 with trade, what are the gains by the Home country achieved through trade with the Foreign country?2. Explain the immiserizing growth and list the case for immiserizing growth to be occur. (8’)3. Ex plain the exchange rate overshooting theory (8’)4. Suppose that the nominal interest rate on 3-month Treasury bills is 8 percent in the United States and 6 percent in the United Kingdom, and the rate of inflation is 10 percent in the United States and 4 percent in the United Kingdom.(9’)(1) What is the real interest rate in each nation? (2) In which direction would international investment flow in response to these real interest rates?(3) What impact would these investment flows have on the dollar’s exchange value?5. What effects does labor migration have on the country of immigration? The country of emigration? The world as a whole?(12’) 国际经济学模拟习题(3)参考答案一、判断题(每题1分，共10分) ?? ? ? ? ? ? ? ? ?二、选择题(每题3分，共45分) bcdba acacb dbccd三、简答题(共45分)1、(1) 封闭条件下，本国可以用一半的生产一单位布的劳动时间生产一单位黄油。