曼昆《經(jīng)濟學(xué)原理》（微觀）第五版測試題庫 (09)

1、Chapter 9 /Application: International Trade v 661Chapter 9 Application: International TradeTRUE/FALSE1.Trade decisions are based on the principle of absolute advantage.ANS:FDIF:1REF:9-1NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Absolute advantageMSC:Interpretive2.The sum of consum

2、er and producer surplus measures the total benefits that buyers and sellers receive from participating in a market.ANS:TDIF:2REF:9-1NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Total surplusMSC:Interpretive3.According to the principle of comparative advantage, all countries can bene

3、fit from trading with one another because trade allows each country to specialize in doing what it does best.ANS:TDIF:1REF:9-1NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Comparative advantageMSC:Interpretive4.The world price of cotton is the highest price of cotton observed anywher

4、e in the world.ANS:FDIF:1REF:9-1NAT:AnalyticLOC:Gains from trade, specialization, and tradeTOP:PricesMSC:Definitional5.If the world price of a good is greater than the domestic price in a country that can engage in international trade, then that country becomes an importer of that good.ANS:FDIF:2REF

5、:9-1NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:International trade | PricesMSC:Interpretive6.Without free trade, the domestic price of a good must be equal to the world price of a good.ANS:FDIF:2REF:9-1NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:PricesMSC:Interpr

6、etive7.The nation of Aviana soon will abandon its no-trade policy and adopt a free-trade policy. If the world price of goose meat is $3 per pound and the domestic price of goose meat without trade is $2 per pound, then Aviana should export goose meat.ANS:TDIF:2REF:9-1NAT:AnalyticLOC:Gains from trade

7、, specialization and tradeTOP:Prices | Comparative advantage | ExportsMSC:Interpretive8.If Argentina exports oranges to the rest of the world, Argentina's producers of oranges are worse off, and Argentina's consumers of oranges are better off, as a result of trade.ANS:FDIF:2REF:9-2NAT:Analyt

8、icLOC:Gains from trade, specialization and tradeTOP:Trade | Economic welfareMSC:Applicative9.If a countrys domestic price of a good is lower than the world price, then that country has a comparative advantage in producing that good.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization an

9、d tradeTOP:Comparative advantage | PricesMSC:Interpretive10.When a country allows international trade and becomes an importer of a good, domestic producers of the good are better off, and domestic consumers of the good are worse off.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization,

10、and tradeTOP:Gains from tradeMSC:Interpretive11.If the United Kingdom imports tea cups from other countries, then U.K. producers of tea cups are better off, and U.K. consumers of tea cups are worse off, as a result of trade.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeT

11、OP:Trade | Economic welfareMSC:Applicative12.If Belgium exports chocolate to the rest of the world, then Belgian chocolate producers benefit from higher producer surplus, Belgian chocolate consumers are worse off because of lower consumer surplus, and total surplus in Belgium increases because of th

12、e exports of chocolate.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade | Economic welfareMSC:Applicative13.In principle, trade can make a nation better off, because the gains to the winners exceed the losses to the losers.ANS:TDIF:1REF:9-2NAT:AnalyticLOC:Gains fr

13、om trade, specialization and tradeTOP:Trade | Economic welfareMSC:Interpretive14.Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coast imposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory

14、Coast will increase, but by less than $1.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | PricesMSC:Interpretive15.The small-economy assumption is necessary to analyze the gains and losses from international trade.ANS:FDIF:1REF:9-2NAT:AnalyticLOC:Gains from tr

15、ade, specialization and tradeTOP:International trade | AssumptionsMSC:Interpretive16.The greater the elasticities of supply and demand, the smaller are the gains from trade.ANS:FDIF:3REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Gains from trade | Price elasticities of demand

16、and supplyMSC:Applicative17.If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of the tariff.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | PricesMSC:Interpretive18.When a government imposes a tariff on

17、a product, the domestic price will equal the world price.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | PricesMSC:Interpretive19.A tariff increases the quantity of imports and moves the market farther from its equilibrium without trade.ANS:FDIF:2REF:9-2NAT:A

18、nalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | ImportsMSC:Applicative20.When a country abandons no-trade policies in favor of free-trade policies and becomes an importer of steel, then the domestic price of steel will increase as a result.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains fr

19、om trade, specialization, and tradeTOP:Imports | PricesMSC:Interpretive21.When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off.ANS:TDIF:1REF:9-2NAT:AnalyticLOC:Gains from trade, specialization, and tradeTOP:TariffsMSC:Interpretive22.When a cou

20、ntry that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off and sellers of shoes in that country become better off.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization, and tradeTOP:TariffsMSC:Interpretive23.Deadweight loss measures the decrease i

21、n total surplus that results from a tariff or quota.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Deadweight lossesMSC:Interpretive24.If a small country imposes a tariff on an imported good, domestic sellers will gain producer surplus, the government will gain tariff

22、 revenue, and domestic consumers will gain consumer surplus.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Economic welfareMSC:Applicative25.Domestic consumers gain and domestic producers lose when the government imposes a tariff on imports.ANS:FDIF:2REF:9-2

23、NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:TariffsMSC:Interpretive26.The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity of wine imported, and increase the quantity of wine produced domestically.ANS:TDIF:2REF:9-2NAT:AnalyticL

24、OC:Gains from trade, specialization and tradeTOP:Prices | Imports | TariffsMSC:Interpretive27.Suppose that Australia imposes a tariff on imported beef. If the increase in producer surplus is $100 million, the increase in tariff revenue is $200 million, and the reduction in consumer surplus is $500 m

25、illion, the deadweight loss of the tariff is $300 million.ANS:FDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Deadweight lossesMSC:Applicative28.Suppose Ecuador imposes a tariff on imported bananas. If the increase in producer surplus is $50 million, the reductio

26、n in consumer surplus is $150 million, and the deadweight loss of the tariff is $30 million, then the tariff generates $130 million in revenue for the government.ANS:TDIF:3REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Deadweight lossesMSC:Applicative29.Tariffs cause

27、deadweight loss because they move the price of an imported product closer to the equilibrium without trade, thus reducing the gains from trade.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Deadweight lossesMSC:Interpretive30.Import quotas and tariffs both c

28、ause the quantity of imports to fall.ANS:TDIF:1REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Import quotasMSC:Interpretive31.Import quotas and tariffs make domestic sellers better off and domestic buyers worse off.ANS:TDIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, sp

29、ecialization and tradeTOP:Tariffs | Import quotas | Economic welfareMSC:Interpretive32.Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost because of foreign competition.ANS:FDIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP

30、:Trade policy | EmploymentMSC:Interpretive33.Free trade causes job losses in industries in which a country does not have a comparative advantage, but it also causes job gains in industries in which the country has a comparative advantage.ANS:TDIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specializat

31、ion and tradeTOP:Comparative advantage | EmploymentMSC:Interpretive34.Most economists support the infant-industry argument because it is so easy to implement in practice.ANS:FDIF:1REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive35.If Honduras were to

32、subsidize the production of wool blankets and sell them in Sweden at artificially low prices, the Swedish economy would be worse off.ANS:FDIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policy | Economic welfareMSC:Interpretive36.Policymakers often consider trade rest

33、rictions in order to protect domestic producers from foreign competitors.ANS:TDIF:1REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive37.GATT is an example of a successful unilateral approach to achieving free trade.ANS:FDIF:2REF:9-3NAT:AnalyticLOC:Gains

34、 from trade, specialization and tradeTOP:GATTMSC:Interpretive38.NAFTA is an example of a multilateral approach to achieving free trade.ANS:TDIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:NAFTAMSC:Interpretive39.The rules established under the General Agreement on Tariffs a

35、nd Trade (GATT) are enforced by an international body called the World Trade Organization (WTO).ANS:TDIF:1REF:9-3NAT:AnalyticLOC:Gains from trade, specialization, and tradeTOP:GATT | WTOMSC:Definitional40.A multilateral approach to free trade has greater potential to increase the gains from trade th

36、an a unilateral approach, because the multilateral approach can reduce trade restrictions abroad as well as at home.ANS:TDIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive41.The results of a 2007 Los Angeles Times poll suggest that a significant ma

37、jority of Americans believe that free international trade helps the American economy.ANS:FDIF:2REF:9-4NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive42.The results of a 2007 Los Angeles Times poll suggest that the percentage of Americans who believe trade i

38、s harmful to the economy exceeds the percentage of Americans who believe trade is beneficial to the economy.ANS:TDIF:2REF:9-4NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive43.Most economists view the United States as an ongoing experiment that raises seriou

39、s doubts about the virtues of free trade.ANS:FDIF:1REF:9-4NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:InterpretiveSHORT ANSWER1.Use the graph to answer the following questions about CDs.a.What is the equilibrium price of CDs before trade?b.What is the equilibrium qu

40、antity of CDs before trade?c.What is the price of CDs after trade is allowed?d.What is the quantity of CDs exported after trade is allowed?e.What is the amount of consumer surplus before trade?f.What is the amount of consumer surplus after trade?g.What is the amount of producer surplus before trade?

41、h.What is the amount of producer surplus after trade?i.What is the amount of total surplus before trade?j.What is the amount of total surplus after trade?k.What is the change in total surplus because of trade?ANS:a.$12b.50c.$15d.30e.$250f.$122.50g.$250h.$422.50i.$500j.$545k.$45DIF:2REF:9-2NAT:Analyt

42、icLOC:Gains from trade, specialization and tradeTOP:Exports | Economic welfareMSC:Applicative2.Using the graph below, answer the following questions about hammers.a.What is the equilibrium price of hammers before trade?b.What is the equilibrium quantity of hammers before trade?c.What is the price of

43、 hammers after trade is allowed?d.What is the quantity of hammers imported after trade is allowed?e.What is the amount of consumer surplus before trade?f.What is the amount of consumer surplus after trade?g.What is the amount of producer surplus before trade?h.What is the amount of producer surplus

44、after trade?i.What is the amount of total surplus before trade?j.What is the amount of total surplus after trade?k.What is the change in total surplus because of trade?ANS:a.$14b.90c.$10d.85e.$360f.$810g.$405h.$125i.$765j.$935k.$170DIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tra

45、deTOP:Imports | Economic welfareMSC:Applicative3.Using the graph, assume that the government imposes a $1 tariff on hammers. Answer the following questions given this information.a.What is the domestic price and quantity demanded of hammers after the tariff is imposed?b.What is the quantity of hamme

46、rs imported before the tariff?c.What is the quantity of hammers imported after the tariff?d.What would be the amount of consumer surplus before the tariff?e.What would be the amount of consumer surplus after the tariff?f.What would be the amount of producer surplus before the tariff?g.What would be

47、the amount of producer surplus after the tariff?h.What would be the amount of government revenue because of the tariff?i.What would be the total amount of deadweight loss due to the tariff?ANS:a.$6, 84b.66c.44d.$384e.$294f.$45g.$80h.$44i.$11DIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specializatio

48、n and tradeTOP:Tariffs | Economic welfareMSC:Applicative4.How does an import quota differ from an equivalent tariff?ANS:Both the import quota and the tariff raise the domestic price of the good, reduce the welfare of domestic consumers, increase the welfare of domestic producers, and cause deadweigh

49、t losses. The only difference for the economy is that the tariff raises revenue for the government, while the import quota creates surplus for license holders.DIF:2REF:9-2NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Tariffs | Import quotasMSC:Interpretive5.Characterize the two diffe

50、rent approaches a nation can take to achieve free trade. Does one approach have an advantage over the other?ANS:A unilateral approach is when a country removes its trade restrictions on its own. A multilateral approach is when a country removes its trade restrictions while other countries do the sam

51、e. A multilateral approach has two advantages. The first is that it has the potential to result in freer trade because it can reduce trade restrictions abroad as well as at home. If international negotiations fail, however, the result could be more restricted trade than under a unilateral approach.

52、Also, the multilateral approach may have a political advantage and can sometimes win political support when a unilateral reduction cannot.DIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Interpretive6.What are the arguments in favor of trade restrictions, and

53、 what are the counterarguments? According to most economists, do any of these arguments really justify trade restrictions? Explain.ANS:Arguments mentioned in the text include the jobs argument, the national security argument, the infant industry argument, the unfair competition argument, and the pro

54、tection-as-a-bargaining-chip argument. These arguments and counter-arguments are outlined in section 9-3 of the text. Most economists would dismiss the jobs argument, the infant industry argument, and the unfair competition argument on strictly economic grounds. The bargaining-chip argument carries

55、high risks of economic harm if the threat doesn't work. The national-security argument balances economic loss from trade restriction against the benefit of long-term national survival, and is probably the argument that economists would most likely buy if it were clear that the industry being protected was clearly crucial to national security.DIF:2REF:9-3NAT:AnalyticLOC:Gains from trade, specialization and tradeTOP:Trade policyMSC:Int