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国际贸易(第六版英文)课后习题答案

国际贸易(第六版英文)课后习题答案
国际贸易(第六版英文)课后习题答案

THE WORLD OF INTERNATIONAL ECONOMICS

I.Outline

Introduction

The Nature of Merchandise Trade

- The Geographical Composition of Trade

- The Commodity Composition of Trade

- U.S. International Trade

World Trade in Services

The Changing Degree of Economic Interdependence

Summary

Appendix: A General Reference List in International Economics

II.Purpose of Chapter

The purpose of this introductory chapter is to provide the student with an overview of the current nature of international trade in goods and services for the world in general and for the United States in particular. It is useful to make the student aware not only of the broad nature of international transactions, but also of the increased international interdependence that now characterizes the world economy. Although this chapter contains a great amount of “data,” we have found that discussing this kind of information on the first day of class motivates student interest in the subject and in the course in general.

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EARLY TRADE THEORIES: Mercantilism and the Transition

to the Classical World of David Ricardo

I.Outline

Introduction

Mercantilism

- The Mercantilist Economic System

- The Role of Government

- Mercantilism and Domestic Economic Policy

The Challenge to Mercantilism by Early Classical Writers

- David Hume - The Price-Specie-Flow Mechanism

- Adam Smith and the Invisible Hand

Summary

II.Special Chapter Features

Case Study 1: The Gephardt Amendment - The New Mercantilism?

Box 1: Capsule Summary of the Price-Specie-Flow Mechanism

Box 2: Concept Review - Price Elasticity and Total Expenditures

Box 3: Adam Smith (1723-1790)

III.Purpose of Chapter

The purpose of this chapter is to trace out some of the early ideas regarding the basis for international trade and the distribution of the benefits to be gained from trade. It not only provides some historical perspective to trade theory, but it also makes clear why certain contemporary protectionist attitudes can be seen as being based in a Mercantilist view of the world.

IV. Answers to End-of-Chapter Questions and Problems

1.Wealth was viewed as synonymous with holdings of precious metals. Nation-states wished to become wealthy and this meant obtaining large holdings of precious metals. It is also argued by some that the shortage of coinage constrained the growth of these nation-states and that precious metals were required to increase the supply of coinage (money) in order for the countries to grow.

2. Critical pillars of Mercantilism:

a. the zero-sum nature of international trade;

b. the need for strong, powerful governments;

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c. the labor theory of value;

d. the need to regulate economic activity;

e. the need for a positive trade balance.

Because wealth was viewed in terms of holdings of precious metals, the objective of economic activity and policy was to foster increased holdings of specie. Mercantilists believed that individuals pursuing their own self interest would not accomplish this objective and that consequently, economic activity had to be closely regulated and supervised.

3. The paradox of Mercantilism is that wealthy countries would contain large numbers of very poor people. A second paradox is that wealthy countries had to spend great amounts of specie to protect their holdings of specie. Wages were kept low (at institutional subsistence levels) to reduce labor costs, and families were encouraged to have children through various taxes and subsidies. These actions contributed to a very large poor working class.

4. Critical assumptions of the price-specie-flow mechanism:

a. some link between the money supply and the price level, e.g., the quantity theory of

money;

b. perfect competition, with flexible wages and prices;

c. price-elastic demand for traded goods;

d. existence of a gold standard, with no government interference with the movement of

gold and no actions to sterilize gold’s impact on the money supply.

If the demand for traded goods were price-inelastic, the movement of gold and prices would worsen trade balances, not correct them. This would be destabilizing, not stabilizing.

5. Hume’s price-specie-flow mechanism suggested that a country could not sustain a positive balance of trade because of the effect on money and prices. The external payments position had repercussions on internal economic variables. A continual positive trade balance was thus not a viable policy target, and not a continuous source of increased wealth. Smith’s concept of absolute advantage indicated that both countries could gain from trade, in direct contrast to the Mercantilist’s zero-sum-game view of trade.

6.The United States has an absolute advantage in the production of wheat (3 hrs./unit < 4 hrs./unit) and the United Kingdom has an absolute advantage in clothing (4 hrs./unit < 9 hrs./ unit). The United States would gain at the barter price of 1C:2W (1W:0.5C) since it only gets 0.33C for 1W in autarky. Similarly, the United Kingdom would benefit because it takes only 0.5C to obtain a unit of wheat with trade instead of 1C in autarky.

7.(a) In autarky the United Kingdom would produce 75 units of clothing (300 labor hours/4 hrs.) and 50 units of wheat (200 labor hours/4 hrs.).

(b) If the United Kingdom allocates all of its labor to clothing production, it will

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produce 125 units of clothing (500 total labor hours/4 hrs.). United Kingdom consumption of clothing with trade will be the difference between domestic production and exports, i.e., 85 units of cloth. United Kingdom consumption of wheat will be equal to the 80 units of wheat imports it receives for its 40 units of clothing exports [(40 units of exports) (2W/1C)]. Thus, with trade, United Kingdom consumption of clothing increased from 75 to 85 units and its consumption of wheat increased from 50 units to 80 units.

8. (a) In autarky United States wheat production will be 110 units (330 labor hours/3 hrs.), and cloth production will be 30 units (270 labor hours/9 hrs.).

(b) With trade, the United States will consume 120 units of wheat (200 units of production less the 80 units of exports) and 40 units of cloth imports. Consequently, with trade U.S. consumption of wheat has risen from 110 to 120 units and its consumption of cloth has risen from 30 to 40 units.

In this case trade is a positive-sum game since both parties are able to consume more of both goods with trade compared to autarky, i.e., both countries unambiguously gain from trade.

9. A Mercantilist would view the continuing trade surplus as a very desirable outcome since it produces a net increase in Japanese holdings of foreign exchange (claims on foreign country assets), which is similar to increased holdings of specie in Mercantilist times. To the Mercantilist, the surplus represents successful Japanese economic policy, not a problem. Hume would argue that the situation would be self-correcting if a fixed exchange rate system is in place as long as prices and wages are flexible and Japan does nothing to interfere with the flow of payment and its impact on the money supply. The increase in the money supply accompanying the trade surplus would lead to a relative increase in the prices of Japanese goods, thus reducing the trade surplus. In Japan’s trading partners, the money supply would decrease and prices would decrease, thus decreasing their deficits. Movement to a zero trade balance would also occur under a flexible rate system because the trade surplus would lead to an increase in the value of the Japanese currency and therefore to a relative increase in the prices of Japanese goods and services.

10.With a price elasticity of demand of (-) 2.0, a 10 percent increase in price will cause the quantity demanded in Spain to fall by 20 percent [= (-2.0) (0.10)]. Since France was initially exporting 5,000 units, the new level of exports will be 4,000 [= (5,000) (1 - 0.20)]. The new value of French exports will be 440,000 francs [= (4,000) (110)], which is exactly equal to its new level of imports. The increase in French prices has thus worked to remove its trade surplus with Spain.

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CHAPTER 3

THE CLASSICAL WORLD OF DAVID RICARDO

AND COMPARATIVE ADVANTAGE

I.Outline

Introduction

Assumptions of the Basic Ricardo Model

Ricardian Comparative Advantage

Comparative Advantage and the Total Gains From Trade

- Resource Constraints

- Complete Specialization

Representing the Ricardian Model With Production-Possibilities Frontiers

- Production-Possibilities - An Example

- Maximum Gains from Trade

Comparative Advantage and the Developing Countries

Summary

II. Special Chapter Features

Box 1: David Ricardo (1772-1823)

Case Study 1: Export Concentration of Selected Countries

Box 2: Comparative Advantage and the Gains from Trade: Another Example

III. Purpose of Chapter

The purpose of this chapter is to introduce students to the basic idea of Classical comparative advantage, demonstrate the gains from trade, and explain why trade will lead to country specialization in production of the export good(s).

IV. Answers to End-of-Chapter Questions and Problems

1. (a) The autarky price ratios:

France: 1 computer:25 wheat, or 1 wheat:1/25 computer

Germany: 1 computer:20 wheat, or 1 wheat:1/20 computer

(b) France has a comparative advantage in wheat and Germany in computers. France’s disadvantage is relatively smaller in wheat than in computers, i.e., 4/3 < 100/60; Germany’s advantage is relatively greater in computers than in wheat, i.e., 60/100 < 3/4.

(c) In autarky in France it takes 25 wheat to buy a computer (or 100 days). If it only takes 22 wheat to import the computer, France will save 12 days (= 3x4) of labor/computer. In

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Germany in autarky it takes 1/20 of a computer (3 days) to acquire one wheat. If with trade it only takes 1/22 of a computer (2.73 days)/wheat, Germany saves 0.27 days/wheat import. (d) France saves 4 days of labor/computer; Germany saves 0.5 days of labor/wheat.

(e) As the international terms of trade move closer to those of France in autarky, the

benefits accruing to Germany increase (e.g., a saving of 0.5 days/wheat instead of 0.28 days), and the benefits accruing to France decrease (e.g., a saving of only 4 days/computer instead of 12days/computer).

2. (a) In the United Kingdom, one day of labor can produce 1/3 textiles and 1/6

automobiles. In the United States, one day of labor can produce 1/2 textiles and 1/5 automobiles.

3.In autarky , the produc tion (and consumption) of textiles and autos will utilize all the available 1,000 days of labor. Thus, 1,000 =(2 days/unit) T + (5 days/unit) A. The consumption requirement is that 10 units of textiles be consumed for every unit of automobiles. Hence, total textile production is equal to (10) (total auto production), i.e., 10A. Thus, given the available labor, and substituting 10A for T,

1,000 = (2)(10A) + 5 A A = 40 units

If A = 40 units, then textile production = [1000 - (40)(5)]/[2 days/unit] = 400 units. With

specialization in textile production and trade, textile production equals 500 units. Consumption of textiles (C T ) is equal to textile production minus the textile exports used to acquire auto imports,and auto imports are equal to auto consumption (C A ). With the international terms of trade of 1A:2T, auto imports = (1A/2T)(exports of textiles) = (1A/2T)(textile production - textile

consumption). By the demand assumption, consumption of autos is also equal to (1/10)(textile consumption). Hence, C A = (1/2)(500-C T ) and C A = (1/10)(C T ). Thus,

(1/2)(500 - C T ) = (1/10)(C T )

250 - (1/2)(C T ) = (1/10)(C T )

0.6C

T = 250

C

T

= 416b units

With C

T = 416b units, C

A

therefore equals 41b units. Because of specialization and trade, the

United States has gained 16b units of textiles (416b - 400) and 1b autos (41b - 40) in comparison with the autarky situation.

4.Classical comparative advantage indicates that when a small price-taking country trades with a large country, the benefits of trade go to the small country. Developing countries may not feel that this is the case due to conditions which violate the Classical assumptions. Examples of these factors might include such things as imperfect competition, economies of scale in production, different product knowledge, and trade policies such as tariffs, quotas, and production subsidies.

5. Portugal has an absolute advantage in the production of both goods, since the absolute labor requirements for both wine and cloth are less than in Spain. However, since the relative labor costs are the same in both countries (4/8 = 6/12), there is no basis for trade based on comparative advantage. Consequently, trade would not take place between the two countries based on either absolute or comparative advantage.

6. Since the price of the import good falls and the price of the export good rises with trade, the slope of the consumption-possibilities curve originating at the production point is now different from that of the domestic production-possibilities curve. Trading away from the domestic production point by exporting some of the comparative advantage good and importing the comparative disadvantage good results in the country being able to consume outside the production-possibilities curve. This is sometimes referred to as the gains from exchange.

7.This could follow from the conclusions reached regarding the distribution of benefits from trade between countries of different economic size. If the impact of the difference in size between the two countries leads to the international terms of trade changing relatively more for the smaller country, then the smaller country will receive relatively more of the benefits of trade between the two. Since the United States is much larger than Mexico, Mexico would receive more of the gains from increased trade accompanying NAFTA as long as the relative change in its prices is greater. However, since the United States is certainly not a “large” country economically or dominant in all of the traded goods and services between the two, both countries

should experience some gains from the increased trade and specialization accompanying the trade agreement.

8.This statement could be true if trade was based on absolute advantage. However, since trade can take place on the basis of comparative advantage, what counts is relative cost differences. Consequently a country can be less efficient or become less efficient in all goods and yet gain from trade as long as there are relative cost differences in autarky. Thus, different rates of productivity growth may change what a country exports, but it is unlikely that it would ever

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8

take away the basis for trade, i.e., its ability to export.

9.

steel

Country A

Country B wheat

Since Country A is more efficient in the production of both goods, its PPF lies outside that of Country B. However, if its comparative advantage is in steel, its autarky price ratio will

indicate that steel is relatively less costly in terms of wheat, compared to Country B, and its PPF will have a steeper slope, i.e., [(P W /P S )Country A > (P W /P S )Country B ]

CHAPTER 4

EXTENSIONS AND TESTS OF THE CLASSICAL MODEL OF TRADE

I.Outline

Introduction

The Classical Model in Money Terms

Wage Rate Limits and Exchange Rate Limits

Multiple Commodities

- The Effect of Wage Rate Changes

- The Effect of Exchange Rate Changes

- The Dornbusch-Fischer-Samuelson Model

Transportation Costs

Multiple Countries

Evaluating the Classical Model

Summary

II. Special Chapter Features

Box 1: Wage Rate Limits and Exchange Rate Limits in the Monetized Ricardian Framework

Box 2: Demand Relationships in the DFS Model

Box 3: Comparative Statics Analysis in the DFS Model

Case Study 1: The Size of Transportation Costs

Case Study 2: Labor Productivity and Import Penetration in the U.S. Steel Industry

III. Purpose of Chapter

The purpose of this chapter is to present several extensions of the Classical Ricardian model in order to demonstrate more fully the factors that influence international trade beyond the simple two country-two commodity labor requirement barter model developed in Chapter 3.

IV. Answers to End-of-Chapter Questions and Problems

1. As a result of the trade surplus, France experiences, under a fixed exchange rate, a net gold inflow and the United Kingdom experiences a net gold outflow. Assuming that the price-specie-flow mechanism is in operation, these gold movements will result in an increase in prices and wages in France and a decrease in prices and wages in the United Kingdom. Since the demand for traded goods is assumed to be price-elastic, this will cause the expenditures for U.K. goods by France to rise and the expenditures for French goods by the United Kingdom to fall.

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These adjustments will take place until trade is balanced. The changes in prices in the two countries will lead to a change in the terms of trade that will move them closer to those of the United Kingdom in autarky, i.e., the terms of trade will deteriorate for the United Kingdom and improve for France.

2.(a) There is a basis for trade here because the relative labor costs for the two

commodities are different in autarky, i.e., 6/8 is not the same as 4/4. From another perspective,the individual price ratios in autarky are different between the two countries, i.e., they are 1W:0.67S (or 1S:1.5W) in Italy and 1W:0.5S (or 1S:2W) in Spain.

(b) Italy should export shoes and Spain should export wine because the relative labor

cost of shoes is less in Italy relative to wine. From Spain’s point of view, its absolute

disadvantage is less in wine compared to shoes.

(c) The international terms of trade must lie between 1W:0.67S and 1W:0.5S (or

1S:1.5W and 1S:2W).

(d) The commodity terms of trade = 1 wine:(P wine /P shoes ) shoes [or 1 shoe:

(P shoes /P wine ) wine], which results in 1 wine:(14/24) shoes, i.e., 1 wine:0.583 shoes [or 1 shoe:(24/14) wine, i.e., 1 shoe:1.714 wine].

3. Given the Spanish wage rate of 3.5 pesos per hour and the 1:1 exchange rate, the limits to the wage in Italy are 4b and 3? lire/hr.

Given the Italian wage rate of 4 lire per hour and the 1:1 exchange rate, the limits to the wage in Spain are 3 and 4 pesetas/hr.

Given the Italian wage rate of 4 lire/hour and the Spanish wage rate of 3.5 pesos/hour, the limits to the exchange rate are 7/8 and 1 1/6 peseta/lira.

4.Italy will export shoes and import clothing, wine, cutlery, and fish. Spain will export clothing, wine, cutlery, and fish and import shoes.

With the inclusion of transportation costs, clothing, wine, and fish become nontraded goods, Spain maintains its comparative advantage in cutlery and continues to export it, and the cost of shoes is exactly equalized between the two countries (shoes thus may or may not be traded). The trade pattern changes because the relative costs of the products change when transportation costs are included and assumed to be paid by the importer. In the cases of

clothing, wine, and fish, transportation costs exceed the difference in product costs between the two countries and thus cause them to become nontraded goods.

5. Increases in foreign country productivity will cause the A(z) curve to shift downward as

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a 2/a 1 falls for each good. This will lead to a fall in home country export goods (an increase in foreign-country export goods) since the boundary good shifts to the left in the DFS diagram. There will be a decline in the wage level in the home country relative to the foreign country. In addition, following the analysis in Box 3 in the chapter, the foreign country will experience a gain in real income in terms of both home country goods and foreign country goods, and the home country will experience a gain in real income when income is expressed in foreign goods and no change in real income when income is expressed in home goods. Since the home country in fact consumes both home and foreign goods, it thus attains a higher real income.

6. There is a basis for trade for all three countries since all three autarky price ratios are

different from each other and from the international terms of trade. With an international terms of trade of 1 fish:0.5 potatoes, Sweden and Poland will export potatoes and import fish, and Denmark will export fish and import potatoes.

7. Yes. Since productivity in U.S. manufacturing is considerably higher than in Mexican manufacturing, one would expect the level of wages to be considerably higher in the United States than in Mexico. For traded goods, if U.S. productivity is five times as high but U.S. wages are less than five times as high, U.S. manufactured goods prices would tend to be lower priced than Mexican goods. The relatively great demand for U.S. goods (relatively small demand for

Mexican goods) would therefore drive up U.S. wages (and drive down Mexican wages) until the wage difference roughly matches the productivity difference. Similarly, if U.S. wages are more than five times Mexican wages, Mexican goods would be in relatively great demand (and U.S.goods in relatively small demand). Mexican wages would then rise (and U.S. wages would fall)until the wage difference again is roughly equal to the productivity difference. In practice, the matter is made more complicated by such factors as nontraded goods and a different composition of goods in the two countries. However, the general principle of the link between relative wages and relative productivity differences still holds.

8.(a) The relative wage ratio is (W U.S./W U.K.) = [$20/(£8@$2/£1)] = 5/4. Thus the United Kingdom exports bread and books; the United States exports VCRs, rugs, and lamps.

(b) The upper limit to U.K. wages is found by setting 2/3 = $20/(W U.K.@$2/£1); therefore the upper limit to W U.K. is £15 per day. By setting 4/2 equal to $20/(W U.K. @$2/£1), the lower limit to W U.K. of £5 per day is obtained.

(c) The upper limit to the exchange rate is found by setting 2/3 = $20/(£8@e), which

yields the result of $3.75/£1. By setting 4/2 = $20/(£8@e), the lower limit of $1.25/£1 is obtained.

9.(a) The new U.K. labor times are: bread - 1.6 days; VCRs - 6.4 days; lamps - 3.2 days;rugs - 2.4 days; books - 1.6 days. With these numbers and the original wage ratio of 5/4, the United Kingdom will export bread, VCRs, rugs, and books; the United States will export lamps.

(b) The new upper limit to U.K. wages is found by setting (1.6)/3 = $20/(W U.K. @$2/£1);

therefore the upper limit to W

U.K. is £18.75 per day. By setting (3.2)/2 equal to $20/(W

U.K.

@$2/£1), the lower limit to W

U.K. of £6.25 per day is obtained. Thus, with the U.K. productivity

improvement, both the upper limit and the lower limit to U.K. wages are higher than prior to the improvement.

10.This is to some extent an opinion question, but deficiencies of the Classical model that could be indicated clearly include the use of the labor theory of value, the constant cost assumption, and the assumption of a smooth monetary adjustment mechanism. The labor theory of value obviously ignores the role of other factors of production in the determination of production cost and hence of pretrade price ratios; the constant cost assumption typically yields the unrealistic situation of complete specialization by both countries; and the lack of a smooth monetary adjustment mechanism in practice means that the actual trade pattern can differ from the comparative advantage pattern. Other deficiencies that could be mentioned that result in a lack of complete realism are the specific assumption that the quantity theory of money holds and the general assumption of the existence of perfect competition.

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CHAPTER 5

INTRODUCTION TO NEOCLASSICAL TRADE THEORY:

TOOLS TO BE EMPLOYED

I. Outline

Introduction

The Theory of Consumer Behavior

- Consumer Indifference Curves

- The Budget Constraint

- Consumer Equilibrium

Production Theory

- Isoquants

- Isocost Lines

- Producer Equilibrium

The Edgeworth Box Diagram and the Production-Possibilities Frontier

- The Edgeworth Box Diagram

- The Production-Possibilities Frontier

Summary

II. Special Chapter Features

Box 1: Francis Ysidro Edgeworth (1845-1926)

Case Study 1: Consumer Expenditure Patterns in the United States

III.Purpose of Chapter

Since neoclassical trade theory at the undergraduate level relies heavily on a few basic graphical micro tools, we think it useful to gather these tools into one convenient place early in the book. The purpose of the chapter is to re-introduce the student to thinking in marginal terms and to re-emphasize principles of maximization. The student should become aware early in the course that the conceptual precision of economic analysis to which he or she was exposed in earlier work is going to be employed in the international trade course as well.

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margin, the output per dollar spent on labor is equal to the output per dollar spent on labor. The higher isoquant Q 1 will have been reached, and equality between MPP L /MPP K has been achieved by a rising MPP L as less labor is utilized and a falling MPP K as more capital is utilized.

4.No, it cannot be unambiguously determined. With capital on the vertical axis and labor on the horizontal axis, the new, flatter isocost line will have a vertical-axis intercept lower than originally and a horizontal-axis intercept to the right of the original intercept. If this new isocost line passes above the original equilibrium point, the new level of output will be greater than before the factor price changes; if it passes below the original point, output will have fallen.

5. With labor on the horizontal axis and capital on the vertical axis, the original isocost line has a vertical-axis intercept of 120 hours of capital usage and a horizontal-axis intercept of 1,200hours of labor usage. The slope of this isocost line is (-)1/10 or 0.10. With the specified changes in factor prices, the isocost line shifts inward on both axes since the prices of both inputs have increased. The new intercepts are at 100 hours of capital and 800 hours of labor, and the new isocost line is slightly steeper [having a slope of (-)15/120 or 0.125] than the old one. The equilibrium level of output has fallen because all inputs have risen in price; the firm has also shifted toward using more capital relative to labor, since w/r has risen.

6. The PPF would exhibit constant opportunity costs. Suppose that the employment of all of the economy’s capital and labor in the X industry (an endpoint of the Edgeworth box diagonal)yields 100 units of X output (and 0 units of Y output). Alternatively, suppose that employment of all capital and labor in the Y industry yields 200 units of Y output (and 0 units of X output). With constant returns to scale in both industries, production at the midpoint of the diagonal (using one-half of the economy’s capital and labor in each industry) would therefore yield 50X and 100Y. Employment of one-fourth of the economy’s capital and labor in the X industry and three-fourths of the economy’s capital and labor in the Y industry (i.e., at a point one-fourth of the distance along the diagonal from the X origin to the Y origin) would yield 25X and 150Y. Plotting these various output combinations (and the output combinations of all other production points on the diagonal) yields a straight-line PPF. This PPF would be analogous to the dashed line RTMWQ in Figure 15(b) in the text.

7. This statement is incorrect. The discussion in the text regarding the production-

possibilities frontier indicates that a PPF with increasing opportunity costs emerges when constant returns to scale exist in each industry, provided that the industries have different factor intensities. Thus neither industry needs to be operating in a context of decreasing returns to scale in order to generate an increasing-opportunity-costs PPF.

8.Less; more. The overall demand for labor would rise and the overall demand for capital would fall as the industry with the higher K/L ratio (lower L/K ratio), industry Y, contracts, while the industry with the lower K/L ratio (higher L/K ratio), industry X, expands. Hence, relative factor prices w/r will rise (or r/w will fall). No, the (absolute values of the) isoquant slopes at V’will be higher than at S’ because, in equilibrium, these (absolute values of the ) slopes are equal to

the now-higher w/r. An alternative geometric explanation is that, with homothetic isoquants, a

ray from 0

X (0

Y

) through S’ would hit isoquant x

2

(y

4

) at a point below and to the right (above

and to the left) of V’, a point that would have the same slope as isoquant x

1 (y

6

) at S’. Given the

convex shapes of isoquants, V’ would then have a steeper slope than S’.

9.The Edgeworth box would become “taller” since the vertical capital axes become longer and the horizontal labor axes stay the same length. The PPF will also become “taller” since the good Y intercept shifts upward by a greater percentage than the good X intercept shifts rightward. Note, however, that the good X intercept does shift to the right because, with a larger capital stock, more X can be obtained when all resources are devoted to X production.

10.If the price of labor rises with no change in the price or rental rate of capital, w/r increases (r/w decreases). Producers in both industries would respond by using relatively less labor and relatively more capital, and the K/L ratio would rise in both industries. Note that, in this question, we do not specify the cause of the rise in the price of labor - the effects on output of each good and on total output would depend on this cause and would be different, for example, if the cause were technological change that increased the demand for labor rather than a desire on the part of labor to take more leisure time.

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CHAPTER 6

GAINS FROM TRADE IN NEOCLASSICAL THEORY

I.Outline

Introduction

Autarky Equilibrium

Introduction of International Trade

- The Consumption and Production Gains from Trade

- Trade in the Partner Country

Minimum Conditions for Trade

- Trade between Countries with Identical PPFs

- Trade between Countries with Identical Demand Conditions

- Conclusions

Some Important Assumptions in the Analysis

- Costless Factor Mobility

- Full Employment of Factors of Production

- The Indifference Curve Map Can Show Welfare Changes

Summary

II. Special Chapter Features

Box 1: The Case of Differing Tastes and Identical Constant Costs of Production

Case Study 1: Income Distribution Changes with Increased Trade in the United

States

Box 2: “Actual” versus “Potential” Gains from Trade

III.Purpose of Chapter

The purpose of this chapter is to build the case, using familiar microeconomic tools, for a country to participate in international trade rather than to remain in autarky. The chapter thus uses more modern or updated analysis to arrive at the Classical conclusions, and it also attempts to acquaint the student with some of the important underlying assumptions in this neoclassical analysis of trade.

IV. Answers to End-of-Chapter Questions and Problems

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1.Figures 1 and 2 in the text are the relevant diagrams. Point E is the production equilibrium position because the marginal rate of transformation in production (= marginal cost of

X/marginal cost of Y) is equal to the relative commodity price ratio P

X /P

Y

at that point. For the

given relative prices, production at any other point would have P

X /P

Y

unequal to MC

X

/MC

Y

, or

P X /MC

X

unequal to P

Y

/MC

Y

. Hence, firms would have an incentive to shift resources until point

E was attained.

For consumers, point E is the equilibrium position because, at that point, the marginal rate

of substitution in consumption (= marginal utility of X/marginal utility of Y) is equal to P

X /P

Y

.

Consumption on the PPF at any other point would be on a lower indifference curve, and, for the

given prices, MU

X /MU

Y

is unequal to P

X

/P

Y

(or MU

X

/P

X

is unequal to MU

Y

/P

Y

). Since

consumption of one good at the margin brings less utility per dollar spent than on the other good, consumers will change their consumption bundle until point E is attained.

In order for the country to gain from trade, the world P

X /P

Y

must be different from the

autarky P

X /P

Y

. With different relative prices on the world market, a reallocation of production

and consumption will enable the country to move to a higher indifference curve.

2.Yes, the country should trade. It should export cloth since that is the good of comparative advantage, and producers will have a profit incentive to sell cloth at its relatively higher price on the world market. The country will gain from trade because its trading line (CPF with trade) will permit larger consumption bundles than are possible in autarky, since the exported cloth allows for the purchase of relatively cheaper machines than in autarky. As long as world prices differ from autarky prices, the country can move to a higher indifference curve by participating in trade.

3.The “gains from exchange” (consumption gain) occur because of the opportunity to consume at different relative goods prices, even though production does not change. The higher relative price for the export good on the world market permits consumption of the now-relatively lower priced import good, and consumers will substitute toward the import good and will move to a higher indifference curve than was possible in autarky. The “gains from specialization”(production gain) reflect the enhanced real income possible for the economy because it is now using resources more efficiently by concentrating its production to a greater extent on its comparative advantage good.

4.Yes. Even though unemployment may not fall with the opening of the country to trade, the country can still be reallocating production (increasing the proportion of employed workers in the export industry and decreasing the proportion in the import-substitute industry) and can trade along a CPF different from the CPF being attained in autarky. The consumption and production gains from trade can still be realized. In fact, consumption could now even occur outside (rather than inside) the PPF with a sufficient volume of trade. Further, even if no workers can be shifted to the export industry from the import-substitute industry (or from the unemployment pool)

18

because of rigidities, the consumption gain from trade will still occur.

5.The statement is incorrect. This is the case of trade with a “right-angle” PPF. The consumption gain from trade will still be realized because trade has exposed the country to a different set of relative commodity prices.

6.Without getting into material generally beyond the scope of the undergraduate course (such as the conditions discussed in the Tower article cited in the text or in Miltiades Chacholiades, International Trade Theory and Policy, Chapter 5), the general statements

regarding the indifference curve map and welfare changes found in the last section can be used to answer this question.

7.Even though a country’s welfare is enhanced by trade, this does not mean that (without compensation) each person in the country gains from trade. For example, consumers with strong relative preference for the export good can experience reduced welfare because of the rise in the relative price of that good with the expansion of trade, and thus a reduction in trade will improve their welfare. Further, if adjustment to trade is not smooth and complete, potential shutdowns and unemployment in the import-competing industries can generate substantial pressure to keep trade barriers intact. In addition, as will be developed in Chapter 8, the country’s scarce factors of production will receive lower real rewards as trade expands, as will (at least temporarily) any factors of production that are specific to the import-competing industry. The owners of these resources will thus seek to reduce trade since their factor returns will thereby be increased.

8. This position reflects a misunderstanding of the nature of the gains from trade. With trade, both countries become better off in that movement can take place to a higher community indifference curve in each nation. Certainly U.S. producers in industries that would now compete with Cuban exports (principally sugar) would be injured, but U.S. consumers of sugar would gain, as would U.S. producers of new exports to Cuba (such as machine tools). As this chapter has explained, if the compensation principle is employed, those who gain from trade can fully compensate all losers and still be better off because a larger quantity of goods is available. Of course, relaxation of the embargo involves political dimensions as well as economic dimensions, and these noneconomic aspects need to be taken into account when deciding upon the most desirable course of action.

9. It is not likely that trade would cease even if production conditions were to become identical (identical technologies and relative factor endowments). This is because there would still be a basis for trade as long as demand conditions (as reflected in the two community indifference maps) continued to be different for the two countries.

10. Even though a change in the indifference map makes it impossible to compare the new and old indifference curves in a meaningful way, it is still possible that a conclusion regarding the gains from trade can be reached by comparing the old consumption bundle with the new

19

consumption bundle. If a country is consuming more of both goods after trade or the same amount of one good and more of the other, it can be concluded that the country is better off with trade. This conclusion rests on the long-held axiom that more is preferred to less. However, if trade involves moving to a consumption point which involves having more of one good and less of the other, a clear ambiguity exists as discussed in Figure 5. Such an ambiguity can potentially be removed, however, if by changing the trade bundle, the country can move to a consumption situation where winners could compensate losers and where no one is worse off and at least one person is better off. See Box 2 for more discussion.

11. While the opening of trade improves the overall well-being of a country, it can affect the distribution of real income and leave certain individuals less well off. This results from the fact that the price of the export good is rising, the price of the import good is falling, and factor prices are changing. In this case, Ms. Jones is correct about her situation but not about the situation of the country. Also, as will be seen in Chapter 8 (but not yet covered here), if Ms. Jones owns the abundant factor used intensively in food production (the export), her real income should be rising, since the price of the abundant factor rises faster than does the price of the export (via the Stolper-Samuelson theorem and the magnification effect). In this instance her conclusion about her own situation is incorrect. If, however, she owns the scarce factor of production, she will be strictly worse off since she will be faced with both an increased price of food and a falling income due to the decline in the price of the scarce factor. If Ms. Jones falls into the latter category, she should lobby for “compensation” from those whose real income has clearly increased from trade rather than for the imposition of trade restrictions which would lead to a fall in real income for the economy as a whole.

20

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最新中国大学MOOC慕课国际贸易实务期末题库.pdf

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完整word版重要国际贸易考试试题

国际贸易考试试题 一、概念题 1、跨国公司:凡是以一国为基地,从事国外经营,在一个以上国家设有子公司的企业,就称为跨国公司。由两个或两个以上国家创办的经营企业称为多国公司。 2、贸易条件:指一个国家出口商品价格与进口商品价格之间的比率,所以贸易条件又叫“进出口交换比价”,简称“交换比价”。由于这里涉及的是一个国家的种类繁多的所有进出口商品的价格,因此通常用一国在一定时期(如一年)内的出口商品价格指数同进口商品价格指数对比进行计算,其公式为:贸易条件指数=出口价格指数÷进口价格指数×100 3、世界市场:世界市场是国际贸易活动的场所,是国际分工的重要手段。狭义上说,世界市场是指世界各国进行商品交换的场所。但随着时间的推移,世界市场已逐步变成了一个广泛的概念。 4、国际分工:国际分工是指世界各国之间的劳动分工。它是社会生产力发展到一定阶段的产物,是国民经济内部分工超越国家界限的产物。 5、对外贸易政策:是对各国在一定时期对进出口贸易进行管理的原则、方针和措施手段的总称。包括政策主体、政策客体、政策目标、政策内容、政策手段等基本要素。 6、关税:是进出口商品经过一国关境时,由该国政府所设置的海关向本国进出口商所征收的税收。关境是指海关所管辖和执行有关海关各项法令和规章制度以及海关征收关税的领域,它又称关税领域。 7、区域经济一体化:是指两个或两个以上的国家或地区,通过相互协商制定经济贸易政策和措施。并缔结经济条约或协定,在经济上结合起来形成—个区域性经济贸易联合体的过程。 8、技术贸易:技术贸易即国际技术贸易。它是国际技术转让的主要形式之一。国际技术转让是指技术供应方将技术超出国境转让给接受方的交易。主要有两种方式:一种是非商业性转让,即不同国家政府机构之间,以技术援助方式进行无偿的技术转让;另一种是商业性转让,是指政府机构或企业之间,按商业条件签订技犬协议或合同进行有偿的技术转让,即技术贸易。技术贸易的形式主要有许可证贸易、咨询服务与技术协助以及合作生产等。技术贸易实际上就是知识产权服务贸易。. 9、非关税措施:是指除关税以外的目的在于限制其他国家商品进口的各种措施。这是一种直接限制进口的措施。目前世界上各国使用的非关税壁垒措施已达1000多种。 10、国际贸易:从一个国家或地区的角度来看,商品与劳务的对外交换活动就是对外贸易;从国际范围看,这种活动就是国际贸易。 :二、选择题 1、关税与贸易总协定乌拉圭回合多边贸易谈判达成的《服务贸易总协定》依照服务的提供方式将国际服务贸易划分为( B )形式。 A、3种; B、4种; C、5种; D、6种; 2、《联合国国际贸易标准分类》把国际货物贸易共分为(A )大类、67章、261组、1032各分组和3188各基本项目。 A、10; B、15; C、20; D、25; 3、比较优势理论的主要代表人物是:(B )

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商品。 斯图尔珀-萨缪尔森定理(SS定理):在2×2×2结构的HO模型中,贸易开放必定提高一个国家丰裕资源所有者的实际收入,同时必定降低一个国家稀缺资源所有者的实际收入。 进口关税: 进口配额:是一国政府在一定时期内,对于某些商品的进口数量或金额加以直接限制 出口补贴:是鼓励出口的政策,是一国政府为了刺激本国产品出口,对出口商品 给予出口商的现金资助或财政上的优惠待遇,以降低出口商品的出口价格,提高 其在国际市场上的竞争力。 自愿出口限额(VER):是出口国“自愿”设置的对出口数量的限额。我们把它视 为进口国的贸易保护政策,因为出口国一般是在进口国施加的压力下才采用出口 限额的。 倾销行为:倾销指一个企业将出口价格定在低于其本国市场销售价格之下的行为。在某些国家的反倾销法规中,除了上述定义外,一个企业将出口价格定在低 于他的生产成本之下的行为也被认为是倾销。 掠夺性倾销:出口国企业将出口价格定得很低,目的在于将进口国的竞争对手逐 出市场,或者是为了阻碍潜在竞争着进入这个市场,由此确立垄断地位然后在提 高价格获得垄断利润。这种行为被称为掠夺性倾销。 美国301条款 一般301条款:授予总统采取一切适当的行动来消除外国贸易壁垒的权力。可针对外国政府“不正当的、不合理的、歧视性的、给美国商品造成负担或限制的”

国际贸易题库-附答案

国际贸易题库-附答案

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的,区别在于考察交换活动的角度不同。 5、按总贸易体系进行对外贸易统计时,是把所有运入国境的货物都列为进口。 6、总贸易体系与专门贸易体系是只适用于货物贸易的统计制度。 7、对外贸易额是用货币表示的一定时期内一国出口贸易额与进口贸易额之和。 8、对一国的外贸和经济发展来说,长期的贸易顺差并不一定绝对有利。 9、对外贸易商品结构通常以一国商品在世界出口总额或进口总额中所占比重来表示。 10、出口贸易依存度指一国一定时期内的出口贸易额占对外贸易总额的比重。 11、商品直接由生产国运到消费国,也可能是转口贸易。 12、某些国家缺乏国际支付手段,外汇不足是易货贸易产生的主要原因。 13、第二次世界大战后形成了发达资本主义国家生产和出口制成品,发展中国家 生产和出口初级产品的国际分工和贸易格局。 14、对外贸易额与对外贸易量没有本质区别,

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2017年国际贸易考试试题及答案

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国际贸易实务课后习题参考答案 国际贸易术语 复习思考: 1.答:国际贸易术语是随着国际贸易的发展和长期的实践所形成的,用简短的概念或字母表示商品价格构成,说明交货地点和确定风险和责任、费用划分等问题的专用术语。 2.答: FOB、CFR、CIF的共同点: (1)三种价格术语交货性质相同,都是凭单交货,凭单付款象征性交货 (2)三种价格术语都适用于海运和内河运输,其承运人一般只限于船公司。(3)三种价格术语交货点均为装运港船舷。 (4)三种价格术语风险点均以在装运港越过船舷即从卖方转移至买方。 (5)三种价格术语办理出,进口清关手续相同:目的港的进口清关,费用等均由买方负 责办理;装运港的装船,陆运,出口报关,办理许可证等均由卖方办理。 (6)三种价格术语成交方式相同:签订的都属于装运合同。 FOB、CFR和CIF价格术语的不同点: (1)费用构成不一样,报价不一样。FOB价格是考虑货物从原料购进、生产直到出口报关货物装到买方指定船舱同的一切费用和利润为止,而CFR是在FOB 价格的基础上再加上海运费,CIF则是在FOB价格的基础上再加上海运费和保险费。 (2)运输办理不同:FOB租船订舱由买方办理;CFR、CIF租船订舱由卖方办理并支付运费。 保险费支付、办理不同:FOB、CFR保险由买方办理,卖方应于装船前通知买方;CIF保险由卖方办理并支付保险费,卖方按合同条款,保险条款办理保险并将保险单交给买方。 (3)价格术语后港口性质不一样,FOB后的港口指卖方所在国的港口,而CFR 与CIF后的港口指买方所在国的港口。 3.答:应考虑以下因素: (1)运输方式与货源情况

国际贸易A试题(11)

注意:1. 考前请将密封线内填写清楚; 2. 所有答案请直接答在本答题纸上; 3.考核方式:考试;考试形式:闭卷;考试时间120分钟。 一、填空题(每空1分,共20分) 1、。。 2、,,。 3、。 4、。 5、。 6、、、、。 7、、、、。 五、问答题(每题5分,共15分) 1、简述CFR与CIF之异同。 2.什么是象征性交货 3、简述贸易术语的使用选择

六、计算与案例分析题(每题5分,共25分) 1、已知A商品CIF香港价格为2000美元,现外商要求改报CIFC4%香港,并保持卖方的净收入不变。应报价多少? 2、某公司出口某种商品,进货即采购成本为每台165元,出口各项费用共计每台12.8元,公司所定的利润率为10%(以出口总成本为基础),对外报出的FOB价应为多少美元?(1美元折8.2元人民币) 3.某外商欲购我“菊花”手电钻,但要求改用“鲨鱼”牌商标,并在包装上不得注明“MADE IN CHINA”,我方可否接受?应注意什么? 4. 某公司以CFR条件成交出口一批消毒碗柜,并于合同规定的装运期前的4月8日装船完毕。由于刚好星期日休息,我业务员未及时向买方发出装运通知,导致买方未能及时办理投保,而货物在4月8日晚因火灾被烧毁。问货物损失谁负责? 5. 有一批货物按发票总值110%投保了平安险,货轮于5月3日遭暴风雨,使货物部分受损,损失值1,000元。该轮继续航行,5月8日触礁,该货物部分受损,损失值2,000元。问保险公司是否赔偿?赔偿多少?

本版为题目版,请将答题或选择填写在答题版内,否则无效! 一、填空题(每空1分,共20分) 1、国际贸易值它反映一定时期(一般为一年)内世界各国和地区之间的。通常所说的国际贸易值是指的总和。 2、对外贸易商品包装可分为:,,。 3、出口商品的包装是为了保护和所使用的。 4、海上风险种类又分为和。 5、信用证按开证后是否需经受益人同意才能修改或撤销来分:有和。 6、国际贸易的交易磋商一般经过、、、等四个环节。 7、出口合同的履行,四个环节最为重要,分别是、、、。 二、单项选择题(每题1分,共10分,请将答案选择填在第一版的答题方框内) 1、根据“国际商会跟单信用证统一惯例1993年500号”条款,在以信用证支付的前提下,信用证的金额和数量上均有“约”“大约”“大概”时,允许交货数量的增减幅度掌握在: A. 2.5% B. 5% C. 10% D. 15% 2、定牌中性包装是指: A、不注明生产国别,但注明买方指定的商标或牌号 B、注明生产国别,接受买方指定的商标或牌号。 C、接受买方指定的商标或牌号及产地。 D、既无生产国别,也无商标牌号。 3、《2000年国际通则》中哪一种贸易术语是由卖方负责办理进口清关? A、EXW B、DDP C、FOB D、CFR 4、国际贸易中最主要的运输方式是: A、海洋运输 B、铁路运输 C、航空运输 D、邮政运输 5、以下哪一项属于自然灾害风险? A、暴风雨、 B、搁浅、 C、触礁、 D、船舶火灾 6、以下哪一项属特殊附加险?

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