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1、精品文档，仅供学习与交流，如有侵权请联系网站删除International Economics, 8e (Krugman) 【精品文档】第 10 页Chapter 1 Introduction1.1 What Is International Economics About?1) Historians of economic thought often describe _ written by _ and published in _ as the first real exposition of an economic model. A) Of the Balance of Trade,
2、David Hume, 1776 B) Wealth of Nations, David Hume, 1758 C) Wealth of Nations, Adam Smith, 1758 D) Wealth of Nations, Adam Smith, 1776 E) Of the Balance of Trade, David Hume, 1758 Answer: E Question Status: Previous Edition2) From 1959 to 2004, A) the U.S. economy roughly tripled in size. B) U.S. imp
3、orts roughly tripled in size. C) the share of US Trade in the economy roughly tripled in size. D) U.S. Imports roughly tripled as compared to U.S. exports. E) U.S. exports roughly tripled in size. Answer: C Question Status: Previous Edition3) The United States is less dependent on trade than most ot
4、her countries because A) the United States is a relatively large country. B) the United States is a Superpower. C) the military power of the United States makes it less dependent on anything. D) the United States invests in many other countries. E) many countries invest in the United States. Answer:
5、 A Question Status: Previous Edition4) Ancient theories of international economics from the 18th and 19th Centuries are A) not relevant to current policy analysis. B) are only of moderate relevance in todays modern international economy. C) are highly relevant in todays modern international economy.
6、 D) are the only theories that actually relevant to modern international economy. E) are not well understood by modern mathematically oriented theorists. Answer: C Question Status: Previous Edition5) An important insight of international trade theory is that when countries exchange goods and service
7、s one with the other it A) is always beneficial to both countries. B) is usually beneficial to both countries. C) is typically beneficial only to the low wage trade partner country. D) is typically harmful to the technologically lagging country. E) tends to create unemployment in both countries. Ans
8、wer: B Question Status: Previous Edition 6) If there are large disparities in wage levels between countries, then A) trade is likely to be harmful to both countries. B) trade is likely to be harmful to the country with the high wages. C) trade is likely to be harmful to the country with the low wage
9、s. D) trade is likely to be harmful to neither country. E) trade is likely to have no effect on either country. Answer: D Question Status: Previous Edition7) Benefits of international trade are limited to A) tangible goods. B) intangible goods. C) all goods but not services. D) services. E) None of
10、the above. Answer: E Question Status: Previous Edition8) Which of the following does not belong? A) NAFTA B) Uruguay Round C) World Trade Organization D) None Tariff Barriers E) None of the above. Answer: D Question Status: Previous Edition9) International economics does not use the same fundamental
11、 methods of analysis as other branches of economics, because A) the level of complexity of international issues is unique. B) the interactions associated with international economic relations is highly mathematical. C) international economics takes a different perspective on economic issues. D) inte
12、rnational economic policy requires cooperation with other countries. E) None of the above. Answer: E Question Status: New10) Because the Constitution forbids restraints on interstate trade, A) the U.S. may not impose tariffs on imports from NAFTA countries. B) the U.S. may not affect the internation
13、al value of the $ U.S. C) the U.S. may not put restraints on foreign investments in California if it involves a financial intermediary in New York State. D) the U.S. may not impose export duties. E) None of the above Answer: E Question Status: New 11) Which of the following is not a major concern of
14、 international economic theory? A) protectionism B) the balance of payments C) exchange rate determination D) Bilateral trade relations with China E) None of the above Answer: D Question Status: New12) Trade is generally harmful if there are large disparities between countries in wages. A) This is g
15、enerally true. B) This is generally false. C) Trade theory has nothing to say about this issue. D) This is true if the trade partner ignores child labor laws. E) This is true if the trade partner uses prison labor. Answer: B Question Status: New13) Who sells what to whom A) has been a major preoccup
16、ation of international economics. B) is not a valid concern of international economics. C) is not considered important for government foreign trade policy since such decisions are made in the private competitive market. D) is determined by political rather than economic factors. E) None of the above
17、 Answer: A Question Status: New14) The insight that patterns of trade are primarily determined by international differences in labor productivity was first proposed by A) Adam Smith. B) David Hume. C) David Ricardo. D) Eli Heckscher. E) Lerner and Samuelson. Answer: C Question Status: New15) Since t
18、he mid 1940s, the United States, has pursued a broad policy of A) strengthening Fortress America protectionism. B) removing barriers to international trade. C) isolating Iran and other axes of evil. D) protecting the U.S. from the economic impact of oil producers. E) None of the above. Answer: B Que
19、stion Status: New 16) The balance of payments has become a central issue for the United States because A) when the balance of payments is not balanced, society is unbalanced. B) the U.S. economy cannot grow when the balance of payments is in deficit. C) the U.S. has run huge trade deficits in every
20、year since 1982. D) the U.S. never experienced a surplus in its balance of payments. E) None of the above. Answer: C Question Status: New17) The euro, a common currency for most of the nations of Western Europe, was introduced A) before 1900. B) before 1990. C) before 2000. D) in order to snub the p
21、ride of the U.S. E) None of the above. Answer: C Question Status: New18) During the first three years of its existence, the euro A) depreciated against the $U.S. B) maintained a strict parity with the $U.S. C) strengthened against the $U.S. D) proved to be an impossible dream. E) None of the above.
22、Answer: A Question Status: New19) The study of exchange rate determination is a relatively new part of international economics, since, A) for much of the past century, exchange rates were fixed by government action. B) the calculations required for this were not possible before modern computers beca
23、me available. C) economic theory developed by David Hume demonstrated that real exchange rates remain fixed over time. D) dynamic overshooting asset pricing models are a recent theoretical development. E) None of the above Answer: A Question Status: New20) A fundamental problem in international econ
24、omics is how to produce A) a perfect degree of monetary harmony. B) an acceptable degree of harmony among the international tradepolicies of different countries. C) a world government that can harmonize trade and monetary policies D) a counter-cyclical monetary policy so that all countries will not
25、be adversely affected by a financial crisis in one country. E) None of the above. Answer: B Question Status: New 21) For the 50 years preceding 1994, international trade policies have been governed A) by the World Trade Organization. B) by the International Monetary Fund. C) by the World. D) by an i
26、nternational treaty known as the General Agreement on Tariffs and Trade (GATT). E) None of the above. Answer: D Question Status: New22) The international capital market is A) the place where you can rent earth moving equipment anywhere in the world. B) a set of arrangements by which individuals and
27、firms exchange money now for promises to pay in the future. C) the arrangement where banks build up their capital by borrowing from the Central Bank. D) the place where emerging economies accept capital invested by banks. E) None of the above. Answer: B Question Status: New23) International capital
28、markets experience a kind of risk not faced in domestic capital markets, namely A) economic meltdown risk. B) Flood and hurricane crisis risk. C) the risk of unexpected downgrading of assets by Standard and Poor. D) exchange rate risk. E) None of the above. Answer: D Question Status: New24) Since 19
29、94, trade rules have been enforced by A) the WTO. B) the G10. C) the GATT. D) The U.S. Congress. E) None of the above. Answer: A Question Status: New25) In 1998 an economic and financial crisis in South Korea caused it to experience A) a surplus in their balance of payments. B) a deficit in their ba
30、lance of payments. C) a balanced balance of payments. D) an unbalanced balance of payments. E) None of the above. Answer: A Question Status: New 26) In 1999, demonstrators representing a mix of traditional and new ideologies disrupted a major international trade meeting in Seattle of A) the OECD. B)
31、 NAFTA. C) WTO. D) GATT. E) None of the above. Answer: C Question Status: New27) International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know A) their theory is the best available. B) their th
32、eory is internally consistent. C) their theory passes the reasonable person legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) None of the above. Answer: D Question Status: New28) Trade theorists have proven that the gains from trade A) mu
33、st raise the economic welfare of every country engaged in trade. B) must raise the economic welfare of everyone in every country engaged in trade. C) must harm owners of specific factors of production. D) will always help winners by an amount exceeding the losses of losers. E) None of the above. Ans
34、wer: E Question Status: New1.2 International Economics: Trade and Money1) Cost-benefit analysis of international trade A) is basically useless. B) is empirically intractable. C) focuses attention primarily on conflicts of interest within countries. D) focuses attention on conflicts of interests betw
35、een countries. E) None of the above. Answer: C Question Status: Previous Edition2) An improvement in a countrys balance of payments means a decrease in its balance of payments deficit, or an increase in its surplus. In fact we know that a surplus in a balance of payments A) is good. B) is usually go
36、od. C) is probably good. D) may be considered bad. E) is always bad. Answer: D Question Status: Previous Edition 3) The GATT was A) an international treaty. B) an international U.N. agency. C) an international IMF agency. D) a U.S. government agency. E) a collection of tariffs. Answer: A Question St
37、atus: Previous Edition4) The international debt crisis of early 1982 was precipitated when _ could not pay its international debts. A) Russia B) Mexico C) Brazil D) Malaysia E) China Answer: B Question Status: Previous Edition5) International economics can be divided into two broad sub-fields A) mac
38、ro and micro. B) developed and less developed. C) monetary and barter. D) international trade and international money. E) static and dynamic. Answer: D Question Status: Previous Edition6) International monetary analysis focuses on A) the real side of the international economy. B) the international t
39、rade side of the international economy. C) the international investment side of the international economy. D) the issues of international cooperation between Central Banks. E) None of the above. Answer: E Question Status: New7) The distinction between international trade and international money is n
40、ot useful since A) real developments in the trade accounts have monetary implications. B) the balance of payments includes both real and financial implications. C) developments caused by purely monetary changes have real effects. D) trade models focus on real, or barter relationships. E) None of the
41、 above. Answer: E Question Status: New8) It is argued that small countries tend have more open economies than large ones. Is this empirically verified? What are the logical underpinnings of this argument? Answer: Yes. They do not have sufficient resources to satisfy consumption needs; and also do no
42、t have a sufficiently large market to enable their industries to avail themselves of scale economy possibilities.Another answer would rely on a location argument. Assume that the natural market for any given plant is a circle with a radius of n miles with the plant at its center. Assuming that the p
43、roduction plants are located randomly throughout the country, then the probability that the typical circular market will encompass some foreign country is greater the smaller is the country. Question Status: Previous Edition 9) It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexicos. What do you think about this argument? Answer: The st