B:exports, earningsB:pattern of tradeB:Costs of productionB:Only restrict trade that will make the real wage fall, and a

_______________ cause a nation to give up more and more of one commodity in order to produce each additional unit of another.（ ）

A:Constant opportunity costs

B:Costs of production

C:Decreasing opportunity costs

D:Increasing opportunity costs

答案: Increasing opportunity costs

Increasing opportunity costs result in a production possibilities frontier that is ___________ from the origin.（ ）

A:convex

B:horizontal

C:linear

D:concave

答案: concave

____________ is the amount of one commodity that a nation must give up to produce each additional unit of another.（ ）

A:marginal cost

B:production frontier

C:marginal rate of return

D:marginal rate of transformation (MRT)

答案: marginal rate of transformation (MRT)

The marginal rate of transformation (MRT) of X for Y refers to:（ ）

A:the amount of Y that consumers are willing to give up to consume each additional unit of X.

B:the amount of X that consumers are willing to give up to consume each additional unit of Y.

C:the amount of X that a nation must give up to produce each additional unit of Y.

D:the amount of Y that a nation must give up to produce each additional unit of X.

答案: the amount of Y that a nation must give up to produce each additional unit of X.

What is another name for the opportunity cost of a commodity?（ ）

A:marginal rate of return

B:marginal rate of substitution (MRS)

C:revealed comparative advantage

D:marginal rate of transformation (MRT)

答案: marginal rate of transformation (MRT)

When countries engage in international trade, specialization tends to be:（ ）

A:complete with constant costs and incomplete with increasing costs

B:incomplete with constant costs and complete with increasing costs

C:complete with constant costs, and complete with increasing costs

D:incomplete with constant costs and incomplete with increasing costs

答案: incomplete with constant costs and complete with increasing costs

Why do increasing opportunity costs of production occur?（ ）

A:Factors of production are not being used in the same fixed proportion

B:Factors of production are homogeneous

C:Factors of production are completely adaptable to every use

D:None of the above

答案: Factors of production are not being used in the same fixed proportion

Nations will have different production possibilities frontiers because of which characteristic?（ ）

A:differences in degree of industrialization

B:differences in factor endowments

C:differences in community indifference curves

D:differences in marginal costs of production

答案: differences in factor endowments

The tastes or demand preferences of a nation are given by:（ ）

A:production frontiers

B:consumption possibilities curves

C:community indifference curves

D:marginal rate of transformation(MRT)

答案: community indifference curves

Increasing opportunity costs result in a production frontier that is convex from the origin.（ ）

A:错
B:对
答案: 错

Assume both labor and capital are completely mobile, and a nation is capital rich/labor scarce. In order to increase welfare, what kind of trade policy should the government adapt?（ ）

A:Not restrict trade, because any decline in real wages will be matched with an even larger gain by those who own capital

B:Only restrict trade that will make the real wage fall, and allow trade that will not affect wages

C:Restrict all trade, because the standard of living will decline and people will be worse off

D:Not restrict trade, because the real wage will eventually cycle back to the pre-trade value, eliminating any losses in the standard of living

答案: Not restrict trade, because any decline in real wages will be matched with an even larger gain by those who own capital

Which of the following is a part of the Heckscher-Ohlin model that states international trade will bring about equalization in the returns to homogeneous factors across nations?（ ）

A:Factor-endowment theory

B:Product cycle theory

C:Factor-proportions theory

D:Factor-price equalization theorem

答案: Factor-price equalization theorem

The Heckscher-Ohlin theory is often referred to as: （ ）

A:Factor-price equalization theorem

B:Factor-proportions theory

C:Factor-proportions theory and Factor-endowment theory

D:Factor-endowment theory

答案: Factor-proportions theory and Factor-endowment theory

Which of the following is considered to be a short-run version of the factor price equalization theory?（ ）

A:Product cycle theory

B:Economies of scale theory

C:Specific factors theory

D:Intra-industry trade theory

答案: Specific factors theory

According to the specific factors trade theory:（ ）

A:Owners of factors specific to export industries lose when trade takes place, but owners of factors specific to import-competing industries gain

B:Owners of factors specific to export industries gain when trade takes place, but owners of factors specific to import-competing industries lose

C:Both owners of factors specific to export industries and owners of factors specific to import-competing industries lose from trade

D:Both owners of factors specific to export industries and owners of factors specific to import-competing industries gain from trade

答案: Owners of factors specific to export industries gain when trade takes place, but owners of factors specific to import-competing industries lose

In his empirical test of Heckscher and Ohlin’s model, Leontief found that（ ）

A:the US imported and exported more labor intensive goods.

B:the US imported more capital intensive goods and exported more labor intensive goods.

C:the US imported and exported more capital intensive goods.

D:the US imported more labor intensive goods and exported more capital intensive goods.

答案: the US imported more capital intensive goods and exported more labor intensive goods.

Which of the following is not an example of a capital rich nation?（ ）

A:India

B:Canada

C:Germany

D:Italy

答案: India

Non-traded goods and services are those that are not traded because of international barriers to entry, such as exorbitant import tariffs.（ ）

A:错
B:对
答案: 错

The ______________ hypothesizes that a portion of international trade is based on the introduction of new products or processes:（ ）

A:product cycle model

B:technological gap model

C:real business cycle model

D:specific-factors model

答案: technological gap model

Which theory states that a nation will tend to export commodities intensive in its relatively abundant and cheap factor?（ ）

A:Stolper-Samuelson theory

B:Intraindustry trade theory

C:Product cycle theory

D:Heckscher-Ohlin theory

答案: Heckscher-Ohlin theory

Which of the following would least likely apply to the product cycle theory?（ ）

A:Computers

B:Coal

C:Digital cameras

D:Televisions

答案: Coal

The product cycle model was introduced by:（ ）

A:Eli Heckscher

B:Wassily Leontief

C:Alfred Marshall

D:Raymond Vernon

答案: Raymond Vernon

Which model states that a nation can shift from being a net exporter of a good to a net importer of the same good?（ ）

A:Specific-factors model

B:Product cycle model

C:Technological gap model

D:Real business cycle model

答案: Product cycle model

___________ involves international trade in the differentiated products of the same industry or broad product group.（ ）

A:Inter-industry trade

B:Intra-national trade

C:Intra-industry trade

D:Product cycle model

答案: Intra-industry trade

With ______________, inputs increase proportionately more than the increase in output.（ ）

A:Decreasing returns to scale

B:Increasing returns to scale

C:Constant returns to scale

D:International returns to scale

答案: Decreasing returns to scale

With ______________, inputs increase in direct proportion to the increase in output.（ ）

A:constant returns to scale

B:increasing returns to scale

C:international returns to scale

D:decreasing returns to scale

答案: constant returns to scale

Increasing returns to scale generally exist because of greater division of labor and labor specialization and specialized and productive machinery.（ ）

A:错
B:对
答案: 对

A tax of 15 percent per imported item would be an example of: ( )

A:Compound tariff

B:Ad valorem tariff

C:Effective tariff

D:Specific tariff

答案: Ad valorem tariff

Suppose that the United States eliminates its tariff on steel imports, permitting foreign-produced steel to enter the U.S. market. Steel prices to U.S. consumers would be expected to:（ ）

A:Increase, and the foreign demand for U.S. exports would increase

B:Increase, and the foreign demand for U.S. exports would decrease

C:Decrease, and the foreign demand for U.S. exports would increase

D:Decrease, and the foreign demand for U.S. exports would decrease

答案: Decrease, and the foreign demand for U.S. exports would increase

When a government allows raw materials and other intermediate products to enter a country duty free, its tariff policy generally results in a: （ ）

A:Fall in both nominal and effective tariff rates

B:Rise in both nominal and effective tariff rates

C:Nominal tariff rate less than the effective tariff rate

D:Effective tariff rate less than the nominal tariff rate

答案: Nominal tariff rate less than the effective tariff rate

The principal benefit of tariff protection goes to: （ ）

A:Domestic consumers of the good produced

B:Foreign producers of the good produced

C:Foreign consumers of the good produced

D:Domestic producers of the good produced

答案: Domestic producers of the good produced

Which of the following policies permits a specified quantity of goods to be imported at one tariff rate and applies a higher tariff rate to imports above this quantity?（ ）

A:Specific tariff

B:Tariff quota

C:Ad valorem tariff

D:Import tariff

答案: Tariff quota

When the production of a commodity does not utilize imported inputs, the effective tariff rate on the commodity: ( )

A:None of the above

B:Equals the nominal tariff rate on the commodity

C:Exceeds the nominal tariff rate on the commodity

D:Is less than the nominal tariff rate on the commodity

答案: Equals the nominal tariff rate on the commodity

Should Canada（a large nantion）impose a tariff on imports, one would expect Canada”s: （ ）

A:Terms of trade to improve and volume of trade to decrease

B:Terms of trade to worsen and volume of trade to increase

C:Terms of trade to worsen and volume of trade to decrease

D:Terms of trade to improve and volume of trade to increase

答案: Terms of trade to improve and volume of trade to decrease

A ad valorem tariff provides domestic producers a declining degree of protection against import-competing goods during periods of changing prices.（ ）

A:错
B:对
答案: 错

When material inputs enter a country at a very low duty while the final imported product is protected by a high duty, the result tends to be a high rate of protection for domestic producers of the final product. （ ）

A:对
B:错
答案: 对

A nation whose imports constitute a very small portion of the world market supply is a price taker, facing a constant world price for its import commodity. （ ）

A:对
B:错
答案: 对

Because export subsidies tend to result in domestic exporters charging lower prices on their goods sold overseas, the home country”s: ( )

A:Export revenues will rise

B:Export revenues will decrease

C:Terms of trade will worsen

D:Terms of trade will improve

答案: Terms of trade will worsen

Compared to an import quota, an equivalent tariff may provide a less certain amount of protection for home producers since: ( )

A:A tariff has no deadweight loss in terms of production and consumption

B:Quotas do not result in increases in the price of the imported good

C:Tariffs are effective only if home demand is perfectly elastic

D:Foreign firms may absorb the tariff by offering exports at lower prices

答案: Foreign firms may absorb the tariff by offering exports at lower prices

If a tariff and an import quota lead to equivalent increases in the domestic price of steel, then: ( )

A:The tariff results in efficiency reductions but the quota does not

B:The quota results in efficiency reductions but the tariff does not

C:They have identical impacts on how much is produced and consumed

D:They have identical impacts on how income is distributed

答案: They have identical impacts on how much is produced and consumed

Import quotas tend to  all of the following except: ( )

A:Domestic consumers of the imported good being harmed

B:Prices increasing in the importing country

C:Prices falling in the exporting country

D:Domestic producers of the imported good being harmed

答案: Domestic producers of the imported good being harmed

To maintain that South Koreans are dumping their VCRs in the United States is to maintain that: ( )

A:The cost of manufacturing VCRs in Korea is lower in Korea than in the United States since wages are lower in Korea

B:The cost of manufacturing VCRs in Korea is higher in Korea than in the United States since wages are higher in Korea

C:Koreans are selling VCRs in the United States below their production cost

D:Koreans are selling VCRs in the United States above their production cost

答案: Koreans are selling VCRs in the United States below their production cost

An import quota is a physical restriction on the quantity of goods that may be imported during a specified time period. ( )

A:错
B:对
答案: 对

To the extent that subsidies granted to exporting firms reduce the foreign price of their goods, the subsidizing country”s terms of trade improved. ( )

A:对
B:错
答案: 错

International dumping occurs when foreign buyers are charged higher prices than domestic buyers for an identical product, after allowing for transportation costs and tariff duties. ( )

A:错
B:对
答案: 错

Predatory dumping would occur if Toyota Inc. of Japan sells autos to U.S. consumers at lower prices than to Japanese consumers in order to put Chrysler Inc. out of business. ( )

A:对
B:错
答案: 对