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1、【精品文档】如有侵权，请联系网站删除，仅供学习与交流国际经济学英文版(第八版)章节练习第四章.精品文档.International Economics, 8e (Krugman) Chapter 4 Resources, Comparative Advantage, and Income Distribution1) In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would A) move the point of production along the p
2、roduction possibility curve. B) shift the production possibility curve outward, and increase the production of both goods. C) shift the production possibility curve outward and decrease the production of the labor-intensive product. D) shift the production possibility curve outward and decrease the
3、production of the capital-intensive product. E) None of the above. Answer: D2) In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in A) tastes. B) military capabilities. C) size. D) relative availabilities of factors of production. E) labor productivities. Answer: D3) The Hecksc
4、her-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former A) has only two countries. B) has only two products. C) has two factors of production. D) has two production possibility frontiers (one for each country). E) None of the above. Answer: C4) A good cannot be b
5、oth land- and labor-intensive. Discuss. Answer: In a two good, two factor model, such as the original Heckscher-Ohlin framework, the factor intensities are relative intensities. Hence, the relevant statistic is either workers per acre (or acres per worker); or wage per rental unit (or rental per wag
6、e). In order to illustrate the logic of the statement above, let us assume that the production of a broom requires 4 workers and 1 acre. Also, let us assume that the production of one bushel of wheat requires 40 workers and 80 acres. In this case the acres per person required to produce a broom is o
7、ne quarter, whereas to produce a bushel of wheat requires 2 acres per person. The wheat is therefore (relatively) land intensive, and the broom is (relatively) labor intensive.5) No country is abundant in everything. Discuss. Answer: The concept of relative (country) factor abundance is (like factor
8、 intensities) a relative concept. When we identify a country as being capital intensive, we mean that it has more capital per worker than does the other country. If one country has more capital worker than another, it is an arithmetic impossibility that it also has more workers per unit capital.6) R
9、efer to above figure. Can you guess which group of producers in Country P might lobby against free trade? Answer: In Country P, the owners of the relatively scarce factor of production are the owners of capital. Their relative and real incomes will decrease, and so they may well attempt to lobby for
10、 protectionism, which may prevent the country from moving to a free trade equilibrium.An Economy can produce good 1 using labor and capital and good 2 using labor and land. The total supply of labor is 100 units. Given the supply of capital, the outputs of the two goods depends on labor input as fol
11、lows:7) Refer to the table above. (a)Graph the production functions for good 1 and good 2(b)Graph the production possibility frontier. Why is it curved? Answer: The production possibility frontier is curved because of the diminishing returns associated with the expansion of output in the short run i
12、n each of the two industries.8) In the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade will benefit the owners of A) capital. B) the relatively abundant factor of production. C) the relatively scarce factor of production. D) the relatively inelastic factor of produc
13、tion. E) the factor of production with the largest elasticity of substitution. Answer: B9) According to the Heckscher-Ohlin model, the source of comparative advantage is a countrys A) technology. B) advertising. C) human capital. D) factor endowments. E) Both A and B. Answer: D10) The Hechscher-Ohli
14、n model states that a country will have a comparative advantage in the good or service whose production is relatively intensive in the _ with which the country is relatively abundant. A) tastes B) technology C) factor of production D) opportunity cost E) scale economy Answer: C11) According to the H
15、ecksher-Ohlin model, A) everyone automatically gains from trade. B) the scarce factor necessarily gains from trade. C) the gainers could compensate the losers and still retain gains. D) a country gains if its exports have a high value added. E) None of the above. Answer:C Assume that only two countr
16、ies, A and B, exist.12) Refer to the table above. If good S is capital intensive, then following the Heckscher-Ohlin Theory, A) country A will export good S. B) country B will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) Insufficient in
17、formation is given. Answer: B 13) In international-trade equilibrium in the Heckscher-Ohlin model, A) the capital rich country will charge less for the capital intensive good than the price paid by the capital poor country for the capital-intensive good. B) the capital rich country will charge the s
18、ame price for the capital intensive good as that paid for it by the capital poor country. C) the capital rich country will charge more for the capital intensive good than the price paid by the capital poor country for the capital-intensive good. D) the workers in the capital rich country will earn m
19、ore than those in the poor country. E) the workers in the capital rich country will earn less than those in the poor country. Answer: B14) The Heckscher-Ohlin model predicts all of the following except A) which country will export which product. B) which factor of production within each country will
20、 gain from trade. C) the volume of trade. D) that wages will tend to become equal in both trading countries. E) None of the above. Answe:C 15) If Australia has relatively more land per worker, and Belgium has relatively more capital per worker, then if trade were to open up between these two countri
21、es, A) the relative price of the capital-intensive product would rise in Australia. B) the world price of the land-intensive product would be higher than it had been in Belgium. C) the world price of the land intensive product would be higher than it had been in Australia. D) the relative price of t
22、he land intensive product would rise in Belgium. E) None of the above. Answer: C 16) If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries, A) the real income of capital owners in Australia would rise. B) the real in
23、come of labor in Australia would clearly rise. C) the real income of labor in Belgium would clearly rise. D) the real income of landowners in Belgium would fall. E) the real incomes of capital owners in both countries would rise. Answer: D17) The reason trade clearly benefits a country is that A) it
24、 raises the real income of the more productive elements in society. B) it lowers the real income of the less productive elements in society. C) it increases the levels of consumption of everyone. D) it increases societys consumption choices. E) None of the above. Answer: D 18) International trade le
25、ads to complete equalization of factor prices. Discuss. Answer: This statement is typically true . . . but. Under a strict and limited set of assumptions, such as the original Heckscher-Ohlin model which excludes country specific technologies; non- homothetic tastes; factor intensity reversals; larg
26、e country differences in (relative) factor abundances, more factors than goods, and an equilibrium solution within the cone of specialization; then it may be demonstrated that internal consistency demands that the above stated sentence is true. However, the minute one relaxes any of the above listed
27、 assumptions one may easily identify solutions, which contradict the factor price equalization theorem. 19) Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively labor abundant, then once trade begins A) wages and rents should rise in H. B) wages and re
28、nts should fall in H. C) wages should rise and rents should fall in H. D) wages should fall and rents should rise in H. E) None of the above. Answer: C20) According to the Heckscher-Ohlin model, if the United States is richly endowed in human-capital relative to Mexico, then as NAFTA increasingly le
29、ads to more bilateral free trade between the two countries, A) the United States will find its industrial base sucked into Mexico. B) Mexico will find its relatively highly skilled workers drawn to the United States. C) the wages of highly skilled U.S. workers will be drawn down to Mexican levels. D
30、) the wages of highly skilled Mexican workers will rise to those in the United States. E) the wages of highly skilled Mexican workers will fall to those in the United States. Answer: E 21) International trade has strong effects on income distributions. Therefore, international trade A) is beneficial
31、 to everyone in both trading countries. B) will tend to hurt one trading country. C) will tend to hurt some groups in each trading country. D) will tend to hurt everyone in both countries. E) will be beneficial to all those engaged in international trade. Answer: C 22) Groups that lose from trade te
32、nd to lobby the government to A) shift the direction of comparative advantage. B) abolish the Specific Factor model from practical application. C) provide public support for the relatively efficient sectors. D) provide protection for the relatively inefficient sectors. E) None of the above. Answer:
33、D 23) The Leontieff Paradox A) supported the validity of the Ricardian theory of comparative advantage. B) supported the validity of the Heckscher-Ohlin model. C) failed to support the validity of the Ricardian theory. D) failed to support the validity of the Heckscher-Ohlin model. E) proved that th
34、e U.S. economy is different from all others. Answer: D24) The Leontieff Paradox A) refers to the finding that U.S. exports were more labor intensive than its imports. B) refers to the finding that U.S. Exports were more capital intensive than its exports. C) refers to the finding that the U.S. produ
35、ces outside its Edgeworth Box. D) still accurately applies to todays pattern of U.S. international trade. E) refers to the fact that Leontieffan American economisthad a Russian name. Answer:A Answers to Textbook Problems2.a.The box diagram has 600 as the length of two sides (representing labor) and
36、60 as the length of the other two sides (representing land). There will be a ray from each of the two corners representing the origins. To find the slopes of these rays we use the information from the question concerning the ratios of the production coefficients. The question states that aLC/aTC = 2
37、0 and aLF/aTF = 5.Since aLC/aTC = (LC/QC)/(TC/QC) = LC/TC we have LC = 20TC. Using the same reasoning, aLF/aTF = (LF/QF)/(TF/QF) = LF/TF and since this ratio equals 5, we have LF = 5TF. We can solve this algebraically since L = LC + LF = 600 and T = TC + TF = 60.The solution is LC = 400, TC = 20, LF
38、 = 200 and TF = 40.b.The dimensions of the box change with each increase in available labor, but the slopes of the rays from the origins remain the same. The solutions in the different cases are as follows.L = 800:TC = 33.33,LC = 666.67,TF = 26.67,LF = 133.33L = 1000:TC = 46.67,LC = 933.33,TF = 13.33,LF = 66.67L = 1200:TC = 60,LC = 1200,TF = 0,LF = 0. (complete specialization).c.At constant factor prices, some labor would be unused, so factor prices would have to change, or there would be unemployment.