国际经济学题库
International Economics, 8e (Krugman)
Chapter 15 Price Levels and the Exchange Rate in the Long Run
15.1 The Law of One Price
1) Which of the following statements is the most accurate? The law of one price states:
A) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in
different countries must sell for the same price when their prices are expressed in terms of the same
currency.
B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in
the same country must sell for the same price when their prices are expressed in terms of the same
currency.
C) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in
different countries must sell for the same price.
D) identical goods sold in different countries must sell for the same price when their prices are expressed
in terms of the same currency.
E) None of the above.
Answer: A
Question Status: Previous Edition
2) Under Purchasing Power Parity,
A) E$/E= P US/P E.
B) E$/E= P E/P ES.
C) E$/E= P US+ P E.
D) E$/E= P US- P E.
E) None of the above.
Answer: A
Question Status: Previous Edition
3) Explain the Law of One Price. Give an example.
Answer: The law of one price states that in competitive markets free of transportation costs and trade barriers, identical goods sold in different countries must sell for the same price when expressed in terms of the
same currency.
i
P= (E$/￡) × (i￡P) for good i.
US
P
E$/￡=i US
P/i UK
If, for example, the price of the same sweater was cheaper in London than in New York, U.S. importers
and British exporters would have an incentive to buy sweaters in London and ship them to New York,
pushing the London price up and the New York price down, until both were equal.
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4) Fill in the following table, assuming the law of one price prevails.
Answer:
Question Status: Previous Edition
15.2 Purchasing Power Parity
1) Under Purchasing Power Parity,
A) E$/E= P i US/P i E.
B) E$/E= P i E/P i US.
C) E$/E= P US/P E.
D) E$/E= P E/P ES.
E) None of the above.
Answer: C
Question Status: Previous Edition
2) Which of the following statements is the most accurate?
A) The law of one price applies only to the general price level.
B) The law of one price applies to the general price level while PPP applies to individual commodities.
C) The law of one price applies to individual commodities while PPP applies to both the general price
level and to individual commodities.
D) PPP applies only to individual commodities.
E) The law of one price applies to individual commodities while PPP applies to the general price level.
Answer: E
Question Status: Previous Edition
A) If PPP holds true, then the law of one price holds true for every commodity as long as the reference
baskets used to reckon different countries' price levels are the same.
B) If the law of one price holds true for every commodity, PPP must hold automatically.
C) If the law of one price holds true for every commodity, PPP must automatically hold as long as the
reference baskets used to reckon different countries' price levels are the same.
D) If the law of one price does not hold true for every commodity, PPP cannot be true as long as the
reference baskets used to reckon different countries' price levels are the same.
E) None of the above.
Answer: C
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4) Which of the following statements is the most accurate?
A) Absolute PPP does not imply relative PPP.
B) Relative PPP implies absolute PPP.
C) There is no causality relation between the two.
D) Absolute PPP implies relative PPP.
E) None of the above.
Answer: D
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5) Which of the following statements is the most accurate?
A) Relative PPP may be valid even when absolute PPP is not, provided the factors causing deviations from
absolute PPP are more or less stable over different commodities space.
B) Absolute PPP may be valid even when relative PPP is not, provided the factors causing deviations from
relative PPP are more or less stable over time.
C) Relative PPP may be valid even when absolute PPP is not, provided the factors causing deviations from
absolute PPP are more or less stable over time.
D) Relative PPP is not valid when absolute PPP is not.
E) None of the above.
Answer: C
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6) Explain Purchasing Power Parity.
Answer: PPP states that the exchange rate between two countries' currencies equals the ratio of the countries' price levels.
A fall in a currency's domestic purchasing power (i.e. an increase in the domestic price level) will be
associated with a proportional currency depreciation in the foreign exchange market and vice versa.
E= P US/P E where P is the price of a reference commodity basket.
$/
∈
Rearrange: P US=∈
E× (P E)
$/
Thus, PPP asserts that all countries' price levels are equal when measured in terms of the same
currency.
Question Status: Previous Edition
7) Discuss the relationship between PPP and the Law of One Price.
Answer: The law of one price applies to individual commodities while PPP applies to the general price level.
Proponents of PPP argue that its validity in the long run doesn't require the law of one price to hold
exactly. When goods and services temporarily become more expensive in one country than in others,
the demands for its currency and its products falls, pushing the exchange rate and domestic prices
back in line with PPP and vice versa.
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Answer:
Absolute PPP states that the exchange rate between two currencies equals the ratio of their price levels. Relative PPP states that the percentage change in the exchange rate between two currencies over a given period equals the difference between the inflation rates of those two currencies.
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Previous Edition 9)
Explain why Relative PPP is useful when comparing countries that base their price levels on different product baskets.
Answer:
For Example: If the U.S. price level rises by 10% over a year while Europe's rises by only 5%, relative PPP predicts a 5% depreciation of the dollar against the euro. This just cancels the 5% by which U.S. inflation exceeds European, leaving the relative domestic and foreign purchasing powers of both currencies unchanged.
(t ,$/E ∈-1-t ,$/E ∈)/1-t ,$/E ∈= (∏e )US,t - (∏e )E,t between dates t and t - 1.
Relative PPP is useful when comparing countries that base their price levels on different product baskets. Relative PPP may be valid even when absolute PPP is not.
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Previous Edition 10)
Suppose Russia's inflation rate is 200% over one year but the inflation rate in Switzerland is only 2%. According to relative PPP, what should happen over the year to the Swiss franc's exchange rate against the Russian ruble? Answer: (E ruble/franc, t - E ruble/franc, t -1)/E ruble/franc, t -1 = 2 - 0.02 = 1.98
So there will be a 198% depreciation of the ruble against the franc or, conversely, a 198% appreciation
of the franc against the ruble.
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Previous Edition
11) Assuming relative PPP, fill in the table below:
Answer: Using (t ,$/E ∈ - 1-t ,$/E ∈)/1-t ,$/E ∈ = ΠUS, t - ΠE, t one gets:
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Previous Edition 15.3 A Long -Run Exchange Rate Model Based on PPP
1) In order for the condition E $/HK$ = P us /P HK to hold, what assumptions does the principle of purchasing power parity make?
A)
No transportation costs and restrictions on trade; commodity baskets that are a reliable indication of price level.
B) Markets are perfectly competitive, i.e., P = MC.
C)
The factors of production are identical between countries. D)
No arbitrage exists. E)
A and B. Answer:
E Question Status:
Previous Edition
A) In the long run, national price levels play a minor role in determining both interest rates and the
relative prices at which countries' products are traded.
B) In the long run, national price levels play a key role only in determining interest rates.
C) In the long run, national price levels play a key role only in determining the relative prices at which
countries' products are traded.
D) In the long run, national price levels play a key role in determining both interest rates and the relative
prices at which countries' products are traded.
E) None of the above.
Answer: D
Question Status: Previous Edition
3) Which of the following statements is the most accurate? In general,
A) the monetary approach to the exchange rate is a long run theory.
B) the monetary approach to the exchange rate is a short run theory.
C) the monetary approach to the exchange rate is both a short and long run theory.
D) the monetary approach to the exchange rate neither long run nor short run theory.
E) None of the above.
Answer: A
Question Status: Previous Edition
4) The monetary approach makes the general prediction that
A) the exchange rate, which is the relative price of American and European money, is fully determined in
the long run by the relative supplies of those monies.
B) the exchange rate, which is the relative price of American and European money, is fully determined in
the short run by the relative supplies of those monies and the relative demands for them.
C) the exchange rate, which is the relative price of American and European money, is fully determined in
the short- and long run by the relative supplies of those monies and the relative demands for them.
D) the exchange rate, which is the relative price of American and European money, is fully determined in
the long run by the relative supplies of those monies and the relative demands for them.
E) None of the above.
Answer: D
Question Status: Previous Edition
5) Under the monetary approach to the exchange rate theory, money supply growth at a constant rate
A) eventually results in ongoing price level deflation at the same rate, but changes in this long-run
deflation rate do not affect the full-employment output level or the long-run relative prices of goods
and services.
B) eventually results in ongoing price level inflation at the same rate, but changes in this long-run inflation
rate do affect the full-employment output level and the long-run relative prices of goods and services.
C) eventually results in ongoing price level inflation at the same rate, but changes in this long-run inflation
rate do not affect the full-employment output level or the long-run relative prices of goods and services.
D) eventually results in ongoing price level inflation at the same rate, but changes in this long-run inflation
rate do not affect the full-employment output level, only the long-run relative prices of goods and
services.
E) None of the above.
Answer: C
Question Status: Previous Edition
exchange rate,
A) the interest rate is not independent of the money supply growth rate in the short run.
B) the interest rate is independent of the money supply growth rate in the long run.
C) the interest rate is not independent of the money supply growth rate in the long run, but independent
in the short run.
D) the interest rate is not independent of the money supply growth rate in the long run.
E) None of the above.
Answer: D
Question Status: Previous Edition
7) Which of the following statements is the most accurate? In general, under the monetary approach to the
exchange rate,
A) while the short-run interest rate does not depend on the absolute level of the money supply, continuing
growth in the money supply eventually will affect the interest rate.
B) while the long-run interest rate does depend on the absolute level of the money supply, continuing
growth in the money supply do not affect the interest rate.
C) while the long-run interest rate does not depend on the absolute level of the money supply, continuing
growth in the money supply eventually will affect the interest rate.
D) the long-run interest rate does not depend on the absolute level of the money supply, and thus
continuing growth in the money supply will not affect the interest rate.
E) None of the above.
Answer: C
Question Status: Previous Edition
8) Who among the following list of people is an early 20th century economist from Yale University who wrote
the book The Theory of Interest?
A) Gustav Cassel
B) Irving Fisher
C) David Ricardo
D) Paul Krugman
E) None of the above.
Answer: B
Question Status: New
9) If people expect relative PPP to hold,
A) the difference between the interest rates offered by dollar and euro deposits will equal the difference
between the inflation rates expected, in the United States and Europe, respectively, over the relevant
horizon.
B) the difference between the interest rates offered by dollar and euro deposits will equal the difference
between the inflation rates expected in Europe and the United States, respectively.
C) the difference between the interest rates offered by dollar and euro deposits will equal the difference
between the inflation rates expected, over the relevant horizon, in the United States and Europe,
respectively, in the short run.
D) the difference between the interest rates offered by dollar and euro deposits will be above the difference
between the inflation rates expected, over the relevant horizon, in the United States and Europe,
respectively.
E) None of the above.
Answer: A
Question Status: Previous Edition
A) a rise in a country's expected inflation rate will eventually cause a more-than proportional rise in the
interest rate that deposits of its currency offer in order to accommodate for the higher inflation.
B) a fall in a country's expected inflation rate will eventually cause an equal rise in the interest rate that
deposits of its currency offer.
C) a rise in a country's expected inflation rate will eventually cause an equal rise in the interest rate that
deposits of its currency offer.
D) a rise in a country's expected inflation rate will eventually cause a less than proportional rise in the
interest rate that deposits of its currency offer to accommodate the rise in expected inflation.
E) None of the above.
Answer: C
Question Status: Previous Edition
11) In the short run,
A) the interest rate can rise when the domestic money supply falls.
B) the interest rate can decrease when the domestic money supply falls.
C) the interest rate stays constant when the domestic money supply falls.
D) the interest rate rises in the same proportion as the domestic money supply falls.
E) None of the above.
Answer: A
Question Status: Previous Edition
12) Under a flexible-price monetary approach to the exchange rate,
A) when the domestic money supply falls, the price level would eventually fall, increasing the interest rate.
B) when the domestic money supply falls, the price level would fall right away, causing a reduction in the
interest rate.
C) when the domestic money supply falls, the price level would fall right away, causing an increase in the
interest rate.
D) when the domestic money supply falls, the price level would eventually fall, keeping the interest rate
constant.
E) when the domestic money supply falls, the price level would fall right away, keeping the interest rate
constant.
Answer: E
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13) Under sticky prices,
A) a fall in the money supply raises the interest rate to preserve money market equilibrium.
B) a fall in the money supply reduces the interest rate to preserve money market equilibrium.
C) a fall in the money supply keeps the interest rate intact to preserve money market equilibrium.
D) a fall in the money supply does not affect the interest rate in the short run, only in the long run.
E) None of the above.
Answer: A
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A) an interest rate rise is associated with lower expected deflation and a long-run currency appreciation,
so the currency appreciates immediately.
B) an interest rate rise is associated with higher expected inflation and a long-run currency appreciation,
so the currency appreciates immediately.
C) an interest rate rise is associated with lower expected inflation and a long-run currency depreciation, so
the currency appreciates immediately.
D) an interest rate rise is associated with lower expected inflation and a long-run currency depreciation, so
the currency depreciates immediately.
E) an interest rate rise is associated with lower expected inflation and a long-run currency appreciation, so
the currency appreciates immediately.
Answer: E
Question Status: Previous Edition
15) Under the monetary approach to the exchange rate,
A) an interest rate decrease is associated with higher expected inflation and a currency that will be weaker
on all future dates.
B) an interest rate increase is associated with higher expected deflation and a currency that will be weaker
on all future dates.
C) an interest rate increase is associated with higher expected inflation and a currency that will be
strengthened on all future dates.
D) an interest rate increase is associated with higher expected deflation and a currency that will be
strengthened on all future dates.
E) an interest rate increase is associated with higher expected inflation and a currency that will be weaker
on all future dates.
Answer: E
Question Status: Previous Edition
16) Under the monetary approach to the exchange rate,
A) a reduction in the money supply will cause immediate currency depreciation.
B) a rise in the money supply will cause currency depreciation.
C) a rise in the money supply will cause immediate currency appreciation.
D) a rise in the money supply will cause depreciation.
E) a rise in the money supply will cause immediate currency depreciation.
Answer: E
Question Status: Previous Edition
17) Explain why exchange rate model based on PPP is a long run theory.
Answer: PPP theory is a monetary approach to the exchange rate. It is a long-run theory because it does not allow for price rigidities. It assumes that prices can adjust right away to maintain full employment as
well as PPP.
Question Status: Previous Edition
18) Present and explain the Fundamental Equation of the Monetary Approach.
E= P US/P E and that domestic price levels depend on domestic money demands and Answer: Assume ∈
$/
supplies:
P US= M US S/L(R$, Y US)
R, Y E)
P E= M E S/L(∈
Therefore, the exchange rate is fully determined in the long run by the relative supplies of those
monies and the relative real demands for them. Shifts in interest rates and output levels affect the
exchange rate only through their influence on money demand.
Question Status: Previous Edition
Answer:
Money supplies: Given the equations, ∈$/E = P US /P E
P US = M US S /L(R $, Y US )
P E = M E S /L(∈R , Y E )
one can show that an increase in the U.S. money supply M US S causes a proportional increase in the U.S. price level P US , which in turn causes a proportional increase in ∈$/E . Thus, an increase in U.S. money supply causes a proportional long -run depreciation of the dollar against the euro and vice versa.
Interest rates: A rise in the interest rate R $ lowers U.S. money demand L(R $, Y US ) thereby causing a rise in the U.S. price level and a proportional depreciation of the dollar against the euro.
Output levels: A rise in U.S. output Y US raises real U.S. money demand leading to a fall in the long -run U.S. price level and an appreciation of the dollar against the euro.
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Previous Edition 20)
Discuss the effects of ongoing inflation based on the PPP theory. Answer:
Other things equal, money supply growth at a constant rate eventually results in ongoing price level inflation at the same rate as the money supply growth, but changes in this long -run inflation rate do not affect the full -employment output level or the long -run relative prices of goods and services.
The interest rate, however, is affected by continuing growth in the money supply (inflation). This can be shown by combining PPP with the interest parity condition (refer to Ch. 13).
To show it analytically recall that the condition of parity between dollar and euro assets is: R $ = ∈R + (e $/E ∈- ∈$/E )/∈$/E
And according to relative PPP: (t ,$/E ∈-1-t ,$/E ∈)/1-t ,$/E ∈ = ΠUS,t - ΠE,t
If people expect relative PPP to hold, the difference between interest rates offered by dollar and euro deposits will equal the difference between the expected inflation rates, over the relative horizon, in the U.S. and Europe.
Question Status:
Previous Edition 21)
Describe and explain the relationship between expected inflation rates in two countries and their interest rate differential according to the PPP theory.
Answer: Expected inflation is given by the following equation
Πe = (P e - P)/P where P e is the expected price level in a country a year from today.
If relative PPP is expected to hold then:
(e $/E ∈ - ∈$/E )/∈$/E e US Π - e E Π
Combine the expected version of relative PPP with the interest parity condition: R $ = ∈R + (e $/E ∈ - ∈$/E )/∈$/E Rearrange:
R $ - ∈R = e US Π- e E Π
If, as PPP predicts, currency depreciation is expected to offset international inflation difference, the interest rate difference must equal the expected inflation difference.
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Previous Edition
Answer: All else equal, a rise in a country's expected inflation rate will eventually cause an equal rise in the interest rate that deposits of its currency offer. Similarly, a fall in the expected inflation rate will
eventually cause a fall in the interest rate.
Ex: If the expected U.S. inflation were to rise permanently from Π to Π +ΔΠ, current dollar interest rates R$would eventually catch up to the higher inflation, rising by a value ΔR$=ΔΠ in accordance with the Monetary Approach that in the long run purely monetary developments should have no
effect on an economy's relative prices since the real rate of return on dollar assets would remain
unchanged.
Question Status: Previous Edition
quadrant, discuss the effects of a change in U.S. expected inflation.
Answer: Lower right quadrant shows the equilibrium in the U.S. Money Market, where
1$R = 1US M /1US P
A given interest rate R1$ corresponds with a given U.S. real money supply, 1US M /1US P .
Consider a rise of ΔΠ in the future rate of U.S. mon ey supply growth (i.e. an increase in the expected rate of inflation).
The Key Point: The rise in expected future inflation generates expectations of more rapid currency depreciation in the future.
Under PPP the dollar now depreciates at a rate of Π + ΔΠ. Interest parity therefore requires the dollar interest rate to rise where
2$R = 1$
R + ΔΠ. (Point 2 in the figure.) Note: R $ - R = e US
Π - e E Π This relation shows a change in the U.S. interest rate due to an increase in expected U.S. inflation has no effect on the euro interest rate.
The rise in the interest rate from 1$R to 2$
R creates a momentary excess supply of real U.S. money balances at the prevailing price level P 1. However, since under this.
Monetary Approach, prices are assumed to be flexible, prices will immediately adjust from P 1 to P 2, thus causing the following two effects: One, Reducing real money supply and two, bringing U.S.
money market back into equilibrium.
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Previous Edition
quadrant, discuss the relationship between the U.S. real money supply and the dollar/euro exchange rate, E $/E .
Answer:
The lower left quadrant in the figure described the Purchasing Power Parity (PPP) relationship. The relationship between the U.S. real money supply and the dollar/euro exchange rate, E $/E is negative.
∈/$E is equal to the price level ratio, P US /∈P .
In this derivation of the relationship, the following variables are assumed constants: 1US M , ∈R , and ∈P . So, ∈/$E = 1US M /P US P US ↑ → ∈/$E ↑
1US P → 2US
P Thus, the purchasing power of dollar decreases due to the increase in the price level. ∈/$E1 → ∈/$E2
i.e., dollar depreciates due to PPP
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Previous Edition
quadrant, discuss the foreign exchange market equilibrium.
Answer: The upper right quadrant describes the equilibrium in the foreign exchange market.
We begin with the Interest Parity Condition. R $ = ∈R + (e $/E ∈- ∈/$E )/∈/$E
In general, two effects are present:
1$R → 2$R and 1$/E ∈ → 2$/E ∈
A rise in the interest rate normally creates an excess demand for dollar deposits and appreciation in the currency market.
However, in this case the increase is due to higher expected inflation or higher expected monetary growth in the U.S. which implies a faster expected depreciation of the dollar against the euro, €, thus, e $/E ∈ goes up and thus reduced the attractiveness of U.S. deposits.
Question Status:
Previous Edition 26)
Is a depreciation of the dollar/euro exchange rate correlated with a decrease in the dollar return on U.S. deposits? Answer: No.
Assume that the Interest Parity is maintained, i.e., R $ = ∈R + (e $/E ∈ - ∈/$E )/∈/$E
Holding ∈R constant, one would expect a depreciation of the dollar/euro exchange rate (i.e. increase in ∈/$E ) to be correlated with a decrease in R $, dollar returns on euro deposits. However , the higher expected inflation in the U.S. implies an increase in the e $/E ∈, the expected future dollar to euro exchange rate. Thus, the quantity (e $/E ∈ - ∈/$E )/∈/$E goes up and, increases despite a depreciation in the current dollar to euro exchange rate, ∈/$E .
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Previous Edition
27) Does the existence of non -tradable goods allow for deviations from Purchasing power Parity?
Answer:
Yes, the existence of nontradables allows deviations from PPP. This is because the price of a nontradable is determined entirely by its domestic supply and demand curves, and in turn
fluctuations in demand and supply for these good will affect the price level. Examples include housing, haircut, services etc.
Question Status:
Previous Edition 28) What effect do non -tradable goods have on PPP? Answer: The effect is quite substantial.
In 2006, the output of non -tradable goods accounted for about 46% of U.S. GNP. Along with haircuts, non -tradable goods include routine medical treatment, housing etc. For the most part, non -tradable goods are comprised of services, and the output of the construction industry. Non -tradable help explain much of the wide departure from PPP that is present in empirical data.
Question Status:
Previous Edition 29)
How can long run values in the real exchange rate change? Answer: An increase in world relative demand for U.S. output causes a long -run real appreciation of the dollar
against the euro (a fall in real dollar/euro exchange rate).
A relative expansion of U.S. output causes a long -run real depreciation of the dollar against the euro (a rise in real dollar/euro exchange rate).
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Previous Edition 30) Describe the chain of events leading to exchange rate determination for the following cases: (a) An Increase in U.S. money supply (d) Increase in growth rate of U.S. money supply (c) Increase in world relative demand for U.S. products (d) Increase in relative U.S. output supply
Answer: Chain of events leading to exchange rate determination:
∈/$E = ∈/$q ×
(P us /P E ) Increase in U.S. money supply: Pus rises in proportion to the money supply; q remains the same. All dollar prices will rise (including dollar price of euro).
Increase in growth rate of U.S. money supply: Inflation rate, dollar interest rate, P us , E, rises in proportion to P us .
Increase in world relative demand for U.S. products: E falls, and q does as well. Increase in relative U.S. output supply: Dollar depreciates, lowers relative price of
U.S. output, rise in q , effect on E is not clear since q and Pus work in opposite directions.
Question Status:
Previous Edition 31)
Construct a table that will summarize the effects of money market and output market changes on the long -run nominal dollar/euro exchange rate Answer:
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Previous Edition
15.4 Empirical Evidence on PPP and the Law of One Price
1) In practice,
A) changes in national price levels often tell us relatively little about exchange rate movements.
B) changes in national price levels raise the exchange rate.
C) changes in national price levels lower the exchange rate.
D) changes in national price levels often tell us about exchange rate movements.
E) None of the above.
Answer: A
Question Status: Previous Edition
2) Which of the following statements is the most accurate?
A) The prices of identical commodity baskets, when converted to a single currency, are the same across
countries.
B) The prices of identical commodity baskets, when converted to a single currency, differ substantially
across countries.
C) The prices of identical commodity baskets, when converted to a single currency, do not differ
substantially across countries.
D) The prices of identical commodity baskets, when converted to a single currency, are often the same
across countries.
E) None of the above.
Answer: B
Question Status: Previous Edition
3) Which of the following statements is the most accurate?
A) The law of one price does fare well in all recent studies.
B) The law of one price does fare well in many recent studies.
C) The law of one price sometimes fares well in recent studies.
D) The law of one price does not fare well in recent studies.
E) None of the above.
Answer: D
Question Status: Previous Edition
4) Which of the following statements is the most accurate?
A) Relative PPP is not a reasonable approximation to the data.
B) Relative PPP is sometimes a reasonable approximation to the data but often performs poorly.
C) Relative PPP is sometimes a reasonable approximation to the data.
D) PPP is sometimes a reasonable approximation to the data.
E) PPP is sometimes a reasonable approximation to the data but usually performs poorly.
Answer: B
Question Status: Previous Edition
Answer: Government measures of the price level differ from country to country.
One reason for these differences is that people living in different countries spend their income in
different ways.
Because of this inherent difference among countries, certain baskets will be affected more by price
changes given their consumptions basket. For example, consumers in country, X, eats more fish
relative to another country. More than likely, the government, upon determining a commodity basket
to reflect preference, will have an overwhelming representation of fish in their basket. Any price level
change in the fish market will be felt particularly by country X, and their overall price level will reflect
this. Thus, changes in the relative prices of basket components can cause relative PPP to become
distorted.
Question Status: Previous Edition
15.5 Explaining the Problems with PPP
1) Which of the following are theories meant to explain "Why Price Levels are Lower in Poorer Countries"?
A) Bhagwati-Kravis-Lipsey
B) Balassa-Samuelson
C) Goldberg-Knetter
D) A and B
E) A, B, and C
Answer: D
Question Status: New
2) In February 2007, the world's cheapest Big Macs were sold in
A) the Philippines.
B) Russia.
C) Ukraine.
D) China.
E) the Czech Republic.
Answer: D
Question Status: Previous Edition
3) The PPP theory fails in reality because
A) transport costs and restrictions on trade.
B) monopolistic or oligopolistic practices in goods markets.
C) the inflation data reported in different countries are based on different commodity baskets.
D) A, B, and C.
E) A and B only.
Answer: D
Question Status: Previous Edition
A) The purchasing power of any given country will increase in countries where the prices of non-tradable
goods rise.
B) The purchasing power of any given country will fall in countries where the prices of non-tradable
goods fall.
C) The purchasing power of any given country will fall in countries where the prices of non-tradable
goods rise.
D) The purchasing power of any given country will remain constant in countries where the prices of
non-tradable goods rise.
E) The purchasing power of any given country will fall in countries where the prices of non-tradable
goods remain constant.
Answer: C
Question Status: Previous Edition
5) Which one of the following statements is the most accurate?
A) Relative price changes could not lead to PPP violations even if trade were free and costless.
B) Relative price changes could lead to PPP violations only if trade were free and costless.
C) Relative price changes could lead to PPP violations even if trade were free and costless.
D) Price changes could lead to PPP violations even if trade were free and costless.
E) None of the above.
Answer: C
Question Status: Previous Edition
6) Which one of the following statements is the most accurate?
A) Departures from PPP are similar in both the short run and long run.
B) Departures from PPP are even greater in the long run than in the long run.
C) Departures from PPP are always greater in the short run than in the long run.
D) It is hard to tell whether departures from PPP are greater in the short run than in the long run.
E) Departures from PPP may often be greater in the short run than in the long run.
Answer: E
Question Status: Previous Edition
7) Floating exchange rates
A) systematically lead to much larger but less frequent short-run deviations from the relative PPP.
B) systematically lead to much larger and more frequent short-run deviations from the relative PPP.
C) systematically lead to much smaller and less frequent short-run deviations from the relative PPP.
D) systematically lead to much smaller but more frequent short-run deviations from the relative PPP.
E) None of the above.
Answer: B
Question Status: Previous Edition
Answer: One theory explains the difference in prices on different endowments of capital and labor (Bhagwait, Kravis, and Lipsey). The explanation is as follows:
?Rich countries have high capital-labor ratios while poor countries have much more labor relative
to capital.
?Because rich countries have high capital labor ratios, the MPL is greater and thus they have a
higher wage.
?Higher wages lead to higher disposable income, and citizens' demand for goods will increase.
?Because labor is cheaper in poor countries and is used intensively in producing
non-tradable goods; non-tradable goods will be cheaper in the poor countries than in the rich.
?The price of non-tradable goods will move with the increase in wage, thus increasing the price
level of the good.
Rich Countries: Expensive Non-tradable goods vs. Poor Countries: Cheap Non-tradable goods.
Question Status: Previous Edition
15.6 Beyond Purchasing Power Parity: A General Model of Long-Run Exchange Rates
1) Which of the following statements is the most accurate about the Law of One Price on Scandinavian ferry
lines?
A) Due to menu costs, the Law of One Price does not hold.
B) To avoid arbitrage opportunities, the Law of One Price must hold.
C) Transaction costs of exchanging currency allows the Law of One Price to fail.
D) Transportation costs between ferry lines leads to a violation of the Law of One Price.
E) None of the above.
Answer: C
Question Status: New
2) Which of the following statements is most accurate?
A) The United States price level will place a relatively light weight on commodities produced and
consumed in America, while the European price level will place a relatively heavy weight on
commodities produced and consumed in Europe.
B) The United States price level will place a relatively light weight on commodities produced and
consumed in America, and the European price level will place a relatively light weight on commodities
produced and consumed in Europe.
C) The United States price level will place a relatively heavy weight on commodities produced and
consumed in America, and the European price level will place a relatively heavy weight on
commodities produced and consumed in Europe.
D) The United States price level will place a relatively heavy weight on commodities produced and
consumed in Europe, and the European price level will place a relatively heavy weight on commodities
produced and consumed in America.
E) The United States price level will place a relatively light weight on commodities produced and
consumed in Europe, and the European price level will place a relatively heavy weight on commodities
produced and consumed in America.
Answer: C
Question Status: Previous Edition
A) a nominal dollar appreciation makes U.S. goods cheaper compared with foreign goods.
B) a nominal dollar depreciation makes U.S. goods cheaper compared with foreign goods.
C) a nominal dollar appreciation makes U.S. goods more expensive compared with foreign goods.
D) A and C only.
E) B and C only.
Answer: E
Question Status: Previous Edition
4) An increase in the world relative demand for U.S. output causes
A) a short-run real depreciation of the dollar against the euro.
B) a long-run real appreciation of the dollar against the euro.
C) a long-run real depreciation of the dollar against the euro.
D) A and B only.
E) None of the above.
Answer: B
Question Status: Previous Edition
5) Which of the following statements is most accurate?
A) A relative expansion of U.S. output causes a long-run depreciation of the dollar against the euro, while
a relative expansion of European output causes a long-run real appreciation of the dollar against the
euro.
B) A relative decline of U.S. output causes a long-run depreciation of the dollar against the euro, while a
relative expansion of European output causes a long-run real appreciation of the dollar against the euro.
C) A relative expansion of U.S. output causes a long-run appreciation of the dollar against the euro, while
a relative expansion of European output causes a long-run real depreciation of the dollar against the
euro.
D) A relative expansion of U.S. output causes a long-run depreciation of the dollar against the euro, while
a relative decline of European output causes a long-run real appreciation of the dollar against the euro.
E) A relative decline of U.S. output causes a long-run depreciation of the dollar against the euro, while a
relative decline of European output causes a long-run real appreciation of the dollar against the euro.
Answer: A
Question Status: Previous Edition
6) When all variables start out at their long-run levels, the most important determinant of long-run swings is
nominal exchange rates is
A) a shift in relative money supply levels.
B) a shift in relative money supply growth rates.
C) a change in relative output demand.
D) a change in relative output supply.
E) None of the above.
Answer: E
Question Status: Previous Edition
国际经济学英文题库(最全版附答案)
【国际经济学】英文题库 Chapter 1: Introduction Multiple-Choice Questions 1. Which of the following products are not produced at all in the United States? *A. Coffee, tea, cocoa B. steel, copper, aluminum C. petroleum, coal, natural gas D. typewriters, computers, airplanes 2. International trade is most important to the standard of living of: A. the United States *B. Switzerland C. Germany D. England 3. Over time, the economic interdependence of nations has: *A. grown B. diminished C. remained unchanged D. cannot say 4. A rough measure of the degree of economic interdependence of a nation is given by: A. the size of the nations' population B. the percentage of its population to its GDP *C. the percentage of a nation's imports and exports to its GDP D. all of the above 5. Economic interdependence is greater for: *A. small nations
国际经济学试题及答案
三、名词解释 1.生产者剩余 答：生产者剩余是指生产者愿意接受的价格和实际接受的价格之间的差额。 2.罗伯津斯基定理 答：罗伯津斯基定理是指在生产两种产品的情况下，如果商品的国际比价保持不变，一种生产要素增加所导致的密集使用该生产要素的产品产量增 加，会同时减少另外一种产品的产量。 3.产品生命周期 答：产品生命周期是指新产品经历发明、应用、推广到市场饱和、产品衰落，进而被其他产品所替代四个阶段。 4.购买力平价 答：购买力平价是指两种货币之间的汇率决定于它们单位货币购买力之间的比例。 5.市场内部化 答：市场内部化是指企业为减少交易成本，减少生产和投资风险，而将该跨国界的各交易过程变成企业内部的行为。 6.黄金输送点 答：黄金输送点包括黄金输入点和黄金输出点，是黄金输入、输出的价格上限和下限，它限制着一个国家货币对外汇率的波动幅度。 7.要素禀赋 答：要素禀赋，即要素的丰裕程度，是指在不同国家之间，由于要素的稀缺程度不同导致的可利用生产要素价格相对低廉的状况。赫克歇尔-俄林 定理认为，要素禀赋构成一个国家比较优势的基础 8.比较优势 答：比较优势也称为比较成本或比较利益，是由英国古典经济学家大卫李·嘉图提出的。李嘉图通过两个国家两种产品的模型阐明，比较优势是一国 在绝对优势基础上的相对较大的优势，在绝对劣势基础上的相对较小的 劣势，遵循“两利相权取其重，两弊相衡取其轻”的原则。根据各自的 比较优势来来确定国际分工并进行贸易往来，双方便都可以获得比较利 益。 9.人力资本 答：所谓人力资本是资本与劳动力结合而形成的一种新的生产要素，然们通过劳动力进行投资（如进行教育、职业培训、保健等），可以提高原有 劳动力的素质和技能，劳动生产率得到提升，从而对一个国家参加国际 分工的比较优势产生作用与影响。 10.布雷顿森林体系 答：布雷顿森林体系是指从第二次世界大战结束到1971年所实行的金汇兑本位制。这一以美元为中心的固定汇率制度的特征简而言之便是“美元
国际经济学题库
International Economics, 8e (Krugman) Chapter 14 Money, Interest Rates, and Exchange Rates 14.1 Money Defined: A Brief Review 1) The exchange rate between currencies depends on A) the interest rate that can be earned on deposits of those currencies. B) the interest rate that can be earned on deposits of those currencies and the expected future exchange rate. C) the expected future exchange rate. D) national output. E) None of the above. Answer: B Question Status: Previous Edition 2) Money serves as A) a medium of exchange. B) a unit of account. C) a store of value. D) All of the above. E) Only A and B. Answer: D Question Status: Previous Edition 3) Money includes A) currency. B) checking deposits held by households and firms. C) deposits in the foreign exchange markets. D) Both A and B. E) A, B, and C. Answer: D Question Status: Previous Edition 4) In the United States at the end of 2006, the total money supply, M1, amounted to approximately A) 10 percent of that year's GNP. B) 20 percent of that year's GNP. C) 30 percent of that year's GNP. D) 40 percent of that year's GNP. E) 50 percent of that year's GNP. Answer: A Question Status: Previous Edition 5) What are the main functions of money? Answer: Money serves in general three important functions: a medium of exchange; a unit of account; and a store of value. As a medium of exchange, money avoids going back to a barter economy, with the enormous search costs connected with it. As a unit of account, the use of money economizes on the number of prices an individual faces. Consider an economy with N goods, then one needs only (N - 1) prices. As a store of value, the use of money in general ensures that you can transfer wealth between periods. Question Status: Previous Edition
国际经济学习题库
第二章劳动生产率和比较优势：李嘉图模型（习题） 一、名词解释 1 绝对优势 2 比较优势 3生产可能性边界 4 一般均衡分析 5 局部均衡分析 6 相对需求曲线 7 机会成本 二、选择 1.在比较利益模型中，两种参与贸易商品的国际比价 ( ) A.在两国贸易前的两种商品的国内比价之上 B.在两国贸易前的两种商品的国内比价之下 C.在两国贸易前的两种商品的国内比价之间 D.与贸易前的任何一个国家的国内比价相同 2.比较利益理论认为国际贸易的驱动力是( ) A.劳动生产率的差异 B.技术水平的差异 C.产品品质的差异 D.价格的差异 3、“两利相权取其重，两弊相权取其轻”是对比较利益理论的高度概括，这一理 论是由经济学家（）提出的。 A、亚当·斯密 B、赫克歇尔和奥林 C、大卫·李嘉图 D、大卫·休谟 三、填空
1、在李嘉图模型中，我们假定（）是各个国家产业部门唯一的生产要素，（）是各个国家产业部门之间唯一不同的生产要素。 2、比较成本学说理论的分析方法属于（）。 3、相互需求理论认为,( )是由贸易双方的供给条件曲线或相互需求曲线。 4、在李嘉图模型中，一国出口劳动生产力高的产品，进口劳动生产力低的产品，即一个国家的生产模式是由（）决定的。 5、各国参与贸易的原因有（）和（）。 四、简答 1、李嘉图比较成本学说的主要内容是什么？试析其合理 与不足之处。 2、本国有1200单位劳动，可生产两种产品——食物与衣 服，生产单位食物的劳动投入为3，生产单位衣服的劳动投入为2。 （1）画出本国的生产可能性曲线。 （2）用衣服表示食物的机会成本是多少？ （3）在自给自足时，本国用衣服表示的食物的相对价格是多少？
国际经济学复习题
国际贸易部分 一、单项选择题 1.重商主义的基本观点是一种( ) A.国际金融的“乘数理论” B.国际贸易的“零和理论” C.国际金融的“杠杆原理” D.国际贸易的“绝对优势理论” 2.比较利益理论认为国际贸易的驱动力是( ) A.劳动生产率的差异 B.技术水平的差异 C.产品品质的差异 D.价格的差异 3.不能解释产业内贸易现象的理论有( ) A.重叠需求理论 B.要素比例理论 C.规模经济理论 D.垄断竞争理论 4.能反映规模经济理论本意的是( ) A.规模报酬递减 B.规模报酬递增 C.规模报酬不变 D.规模成本递增 5．一种产品的竞争优势并非长期固定在某一个特定的国家，而是从技术发明国转向生产成本较低的国家，描述这一现象的理论是（） A.雁形模式理论 B.产品周期理论 C.示范效应理论 D.大宗产品理论 6.下列不属于保护贸易学说的理论有( ) A.幼稚工业理论 B.贸易条件恶化论 C.国内市场失灵论 D.资源禀赋论 7.最佳关税水平应等于( ) A.零进口关税 B.零进口关税与禁止性关税之间的水平 C.禁止性关税 D.禁止性关税以上 8.最佳关税的长期目标是（） A.从外国垄断厂商那里抽取部分垄断租 B.保护和发展本国工业 C.阻止国外商品进口 D.增加本国财政收入 9.从历史发展看，最为成功的国际卡特尔是( ) A.烟草贸易公司 B.铁路运输公司 C.橡胶生产国组织 D.石油输出国组织 10.从国际经济资源流动的难度看，最容易流动的要素是( ) A.商品 B.资本 C.人员 D.技术 11.国际经济学理论体系发展阶段不包括（） A.重商主义 B.古典的自由贸易论及其自由贸易的政策 C.现代国际经济理论 D.重农主义 12.从国际贸易对生产要素分配的影响来看，国际贸易有利于（） A.生产进口竞争品中密集使用的生产要素收入的增加 B.生产进口竞争品中密集使用的共同生产要素收入的增加 C.生产出口品中密集使用的共同生产要素收入的增加 D.生产出口品中密集使用的生产要素收入的增加 13.一国利用原材料或资源密集型产品的出口增加本国收入，进而提高本国的储蓄和投资水平，带动经济发展。该理论被称为（） A.剩余物质出口理论 B.大宗产品贸易理论 C.比较优势理论 D.产品生命周期理论
国际经济学练习题
绪论 一、单项选择题 1．国际经济学产生与发展的客观基础是（） A．国际经济活动范围不断扩大B．国际经济关系日益复杂 C．跨越国界的经济活动不断增长D．国与国之间经济联系密切 2．国际经济学的研究对象（） A．国际经济活动B．国际经济关系 C．世界范围内的资源配置D．国际经济活动与国际经济关系 3．国际经济学产生的时间（） A．20世纪60年代 B．20世纪50年代 C．20世纪40年代 D．20世纪70年代 二、判断改错题 1．国际经济学产生与发展的理论基础是国际贸易理论。（） 2．国际经济学是西方经济学的重要组成部分。（） 3．国际经济学的微观部分主要讨论世界范围内的资源配置问题。（） 4．国际金融理论与政策是站在单个国家角度来研究金融问题的。（） 绪论 一、单项选择题 1．C 2．D 3．A 二、判断改错题 1．×。将“国际贸易理论”改为“国际贸易理论与国际金融理论”。 2．×。国际经济学是从西方经济学中独立出来的一门系统科学。 3．√。 4．×。国际金融理论与政策是独立于个别国家之外来研究所有国家参与国际金融市场的问题。 第二章古典国际贸易理论 一、单项选择题 1．主张对外贸易顺差，并将金银视为财富的唯一形式的理论是（）A．比较优势理论B．贸易差额理论C．要素禀赋理论D．相互需求理论2．贸易差额论的政策主张中对发展中国家制定贸易政策有借鉴意义的是（）A．发展本国工业B．发展本国航运业C．追求贸易顺差 D．对外贸易垄断3．最早对重商主义提出质疑的英国学者是（） A．约翰·穆勒 B．亚当·斯密C．大卫·李嘉图D．大卫·休谟
4．甲国使用同样数量资源比乙国能生产更多的X，则乙国在X生产上具有（）A．绝对优势B．比较劣势C．绝对劣势D．比较优势 5．甲国生产单位布和小麦分别需要6天和9天，乙国为10天和12天，根据比较优势理论（） A．乙国进口小麦B．甲国出口布C．乙国出口布D．甲国出口小麦6．比较优势理论的提出者是（） A．约翰·穆勒B．大卫·李嘉图C．亚当·斯密 D．李斯特 7．被称为西方国际贸易理论基石的是（） A．贸易差额理论B．绝对优势理论C．比较优势理论 D．相互需求理论8．比较优势理论认为国际贸易产生的主要原因是（） A．劳动生产率的相对差异B．技术水平差异 C．需求强度差异D．商品价格差异9．律师打字速度是打字员的两倍却雇佣打字员打字，以下表述错误的是（）A．律师在打字上具有绝对优势B．律师在律师咨询上具有比较优势 C．打字员在打字上具有比较优势D．打字员在打字上具有绝对优势 10．按照比较优势理论，大量贸易应发生在（） A．发达国家之间 B．发展中国家之间 C．发达国家与发展中国家之间D．需求相似国家之间 二、判断改错题 1．贸易差额论虽然产生时间很早，但并不是严格意义上的国际贸易理论。（）2．贸易差额理论的奖出限入政策是针对所有产品而言的。（） 3．贸易差额理论是第一个自由贸易理论。（） 4．绝对优势理论分析的是国际贸易实践中的一个特例。（） 5．具有绝对优势的产品不一定具有比较优势。（） 6．根据绝对优势理论，一国两种产品都处于绝对劣势时仍可以参与互利贸易。（）7．比较优势理论认为从理论上说所有国家都可以参与互利贸易。（） 8．根据比较优势理论，只有当一国生产率达到足够高时，它才能从自由贸易中获益。 （） 9．如果贸易发生在一个大国和一个小国之间，贸易后国际市场价格更接近于小国封闭条件下的国内市场价格。（） 三、名词解释 1．绝对优势2．比较优势 四、简答题 1．简述绝对优势理论主要内容。 2．简述比较优势理论主要内容。
国际经济学练习题及标准答案(内部资料)
国际经济学练习题及答案(内部资料)
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国际经济学练习题 一、判断题 1、当开放贸易时，所有消费者的境况都会得到改善。 2、根据简单贸易模型，在贸易发生之前，如果各国的某种商品价格相同，这些国家之间就不会有交换该种商品的动机。 3、如果一国中某生产者通过贸易能使自己的境况得到改善，那么，该国中所有的生产者都会通过贸易来改善自己的境况。 4、在两国间均衡贸易价格条件下，一国对某种商品的过度供给必然与另一国对该商品的过度需求相等。 5、不存在free lunch，但却存在free trade。 6、一国即便在某种商品的生产上具有绝对劣势，它也可以在该商品的生产上具有相对优势。 7、根据H—O理论，一国如果比他国拥有更多英亩的土地，该国便是“土地丰富”的国家。 8、在成本递增的条件下，各国并不一定要完全专业化于一种商品的生产。 9、H—O理论假设各国拥有相同的商品偏好。 10、我们或许可以通过更为细分化的生产要素定义而解决Leontief Paradox。 11、Stolper-Samuelson定理认为，贸易将使丰富要素的所有者得到更低的实际收入，同时使稀缺要素的所有者得到更高的实际收入。 12、如果各国的生产技术相同，贸易便不会使生产要素价格均等化。 13、一国的非技术性工人会比技术性工人更加反对贸易自由化。 14、大国可投资发展进口替代产业而不是出口产业，进而改善本国的贸易条件。 15、按照定义，小国的经济增长将不会使贸易条件发生变化。 16、青春期是一个贫困化增长的好例子。 17、一国生产要素的增长总会使该国更加自给自足，进而减少对国际贸易的依赖。 18、一个与外界隔绝的国家一定会降低其公民的生活水平。 19、产业内贸易在充分竞争性产业中更为盛行。 20、根据H—0理论，各国应进行大量的产业内贸易。 21、规模经济是指资源的平衡增长导致平均成本上升。 22、产业内贸易发生的原因包括产品差异化、规模经济以及收入分配效应。 23、如果瑞士旅行鞋的进口增加，英国皮鞋制造商就会受到损失。 24、自由贸易总是一种比征收关税更好的政策。 25、从量关税的优越性之一是其保护价值量与进口商品的价格上涨保持同步。 26、关税对一个国家来说可能是最优的，但对全球来说不会是最优的。 27、关税给消费者带来的损失要大于它给生产者带来的收益。 28、与关税相比，配额给政府官员以更大的管理灵活性。 29、只要进口许可证是被拍卖的，配额的福利效应就与关税相同。 30、如果一国政府的税收收入很少，它就会倾向于采用关税而不是配额。 31、对于进口国来说，自愿出口限制比进口配额效果更差。 32、自愿出口限制实际上很少是自愿的。 33、对症规则（specificity rule）认为，关税通常不是纠正一国经济中扭曲的最佳方法。 34、贸易保护的国防理论和国家荣誉理论基本上是次优的。 35、如果“learning by doing”意味者今天更多的生产会使未来的成本降低，那么最好的政策就是实行保护性关税。
国际经济学考试题
试卷 编号： 郑州航空工业管理学院2010—2011学年第一学期 课程考试试卷（ A ）卷 一、单项选择题（本题总计20分，每小题1分） 1．李嘉图的比较优势理论指出，（）。 A、贸易导致不完全专业化 B、即使一个国家不具有绝对成本优势，也可以从出口绝对成本劣势相对较小的产品中获益 C、与不具备绝对成本优势的国家相比，具有绝对成本优势的国家可以从贸易中获利更多 D、只有具备比较优势的国家才能获得贸易余额 2．如果一个劳动力丰富的国家与另一资本丰富的国家进行自由贸易，则（） A、两国工资水平都会相对资本成本上升 B、两国工资水平都会相对资本成本下降 C、前一国家的工资会相对后一国家上升 D、前一国家的工资会相对后一国家下降 3．如果机会成本是递增而不是固定不变的，国际贸易将导致（）。 A、每个国家完全专业化，且生产成本下降 B、每个国家不完全专业化，且出口产品生产成本不变 C、每个国家不完全专业化，且生产出口产品的机会成本上升 D、每个国家不完全专业化，且生产出口产品的机会成本下降 4．（）可用于解释发达国家之间的制成品贸易。 A、比较优势学说 B、要素禀赋理论 C、需求重叠理论 D、绝对优势学说5．可以解释产业内贸易现象的理论是（）。 A、比较优势学说 B、要素禀赋理论 C、绝对优势学说 D、规模经济理论6．一种产品的竞争优势并非长期固定在某一个特定的国家，而是从技术发明国转向生产成本较低的国家，描述这一现象的理论是（）。 A、产品生命周期理论 B、要素禀赋理论 C、需求重叠理论 D、规模经济理论 7、社会无差异曲线用来表示（）。 A、一国公民不愿意与别国进行贸易的百分比 B、能够为社会成员提供相同满意感的商品消费组合 C、为多生产一单位其他产品而必须放弃的本来生产产品的数量 D、一国具有比较优势的产品
国际经济学习题及参考答案
国际经济学作业 一、名词解释 幼稚产业：所谓幼稚产业是指某一产业处于发展初期，基础和竞争力薄弱但经过适度保护能够发展成为具有潜在比较优势的新兴产业。 倾销：是指一国（地区）的生产商或出口商以低于其国内市场价格或低于成本价格将其商品抛售到另一国（地区）市场的行为。 提供曲线：也称相互需求曲线，是由马歇尔和艾奇沃斯提出的，它表明一个国家为了进口一定量的商品，必须向其他国家出口一定量的商品，因此提供曲线即对应某一进口量愿意提供的出口量的轨迹。两个国家的提供曲线的交汇点所决定的价格，就是国际商品交换价格（交换比率）。 国际收支：国际收支分为狭义的国际收支和广义的国际收支。狭义的国际收支指一个国家或地区与世界其他国家或地区之间由于贸易、非贸易和资本往来而引起的国际间资金收支流动的行为。包括两种具体形式:直接的货币收支和以货币表示的资产的转移。反映了以货币为媒介的国际间的债权、债务关系。广义的国际收支为系统记载的、在特定时期内(通常为一年)一个国家或经济体的居民与世界其他地方居民的全部各项经济交易，不仅包括外汇收支的国际借贷关系，还包括一定时期全部经济交易与往来。 二、简答题 试画出出口贫困化增长的图形并作出分析 答：出口贫困化增长，是指某国的传统出口产品的出口规模极大地增长，但结果不仅使该国的贸易条件严重恶化，而且该国的国民福利水平也出现下降，这种现象一般出现在发展中国家。
贸易条件变化前，该国生产均衡点为A，消费点为C；由于该国传统出口产品X 的出口规模极大增长，使得该国贸易条件恶化，此时，生产点变为A’，消费点变为C’。由图中的无差异曲线可以看出，该国贸易条件的变化使得它的福利水平低于增长前。这种情形就成为“出口贫困化增长”。 产生出口贫困化增长的原因主要有：（1）该国在该种出口产品的出口量中占到相当大的比重，这样，当其出口大幅度增加时，会导致世界市场上出现供大于求的情况，导致价格大幅下跌。（2）该种产品的需求国的需求弹性很低，当产品价格降低时，需求是并不会相应大幅增长。（3）该国经济结构十分单一，依赖该种产品的出口来促进经济的发展，因此在贸易条件恶化的时候也不能压缩出口，而是进一步扩大出口量从而保持一定的出口收入。 试说明国际贸易中要素密集度逆转的情况 答：这是解释列昂惕夫反论的观点之一，它认为，某种商品在资本丰富的国家属于资本密集型产品，而在劳动力相对丰富的国家则属于劳动密集型产品，如小麦在非洲是劳动密集生产过程的产品，而在美国则是资本密集型的产品，也就是大机器和高效化肥生产的产品。所以，同一种产品是劳动密集型产品还是资本密集型产品并没有绝对的界限。在国外属于劳动密集型的产品，也有可能在国内属于资本密集型的产品。 即如果两种要素在行业间的替代弹性差异很大，以至于两种等产量曲线相交两次，那么，可能产生生产要素密集度逆转的现象。即一种产品在A国是劳动密集型产品在B国是资本密集型产品。可能就无法根据H-O的模式预测贸易模式了。
《国际经济学》复习题及参考答案
《国际经济学》复习题及参考答案 K135班 一、名词解释 1、国际经济学：是研究经济资源或稀缺资源在世界范围内的最优分配，以及在此过程中发生的经济活动和经济关系的科学。 2、倾销：海外的货物以低于同样货物的销售价格在同一时候在国内市场类似条件下的出售。 3、国际收支（广义）：在特定的时期（一般为一年）内，一个经济体与世界其他地方的各项经济交易。 4、提供曲线：就是相互需求曲线，表明一个国家为了进口一定量的商品，必须向其他国家出口一定量的商品的交换比率。 5、关税同盟：它是指两个或两个以上的国家通过签订条约或协定取消区域内关税或其他进口限制，并对非同盟国家实行统一的关税率而缔结的同盟。 6、贸易条件：即商品的国际交换比率。也就是单位出口能够换回的进口，用出口价格指数比进口价格指数。 7、外汇管制：一国政府通过法令对本国对外的国际结算和外汇买卖实行管制，用以实现国际收支平衡与本国货币汇率稳定的一种制度。 8、汇率：又称为汇价。是不同货币在外汇买卖过程中形成的交换比率。 9、开放经济：一个经济与其外部存在着经济往来关系，如对外贸易、资金流动、劳动力流动等对外经济关系。 10、资本国际流动：指资本从一个国家、地区或经济体，转移到另一个国家、地区和经济体的过程。 二、判断题 1、如果小国对进口商征收关税，那么关税造成的消费者损失小于国内生产商收益与政府关税收入之和。× 如果小国对进口商征收关税，那么关税造成的消费者损失大于国内生产商收益与政府关税收入之和。 2、李嘉图的比较优势理论指出，即使其中一个国家在所有产品上郡具有绝对成本优势，各国也可以根据比较优势进行专业化生产，然后通过贸易获益。√ 3、贫穷化增长适用于长期以来人口增长快于国内生产总值增长的国家。× 贫穷化增长适用于经济是典型的单一经济，离开单一产品的的生产和出口，该国就会陷入困境的发展中国家。 4、社会无差异曲线用来表示能够为社会成员提供相同满意感的商品消费组合。√ 5、产品生命周期理论认为，若任何国家首先成功推广了一种新产品，则这种新产品将在该国经历整个生命周期。× 产品生命周期理论认为，若任何国家首先成功推广了一种新产品，则这种新产品不会在该国经历整个生命周期。 6、幼稚产业是指那些处于成长阶段尚未成熟，但具有潜在优势的产业。√ 7、跨国企业是指向六个以上不同国家出口的企业。× 跨国企业是指在数个国家设有生产工厂的企业。 8、在实施布雷顿森林体系时期，美元是关键货币。√ 9、区分发展中国家和发达国家的最常用但并不完善的指标是人均GDP。√ 10、若美国经济增长速度高于英国，美元相对于英磅升值。× 若美国的通货膨胀速度低于英国，则美元相对于英磅升值。 11、斯密的绝对优势理论指出在贸易中两个国家均能通过出口其比另一国劳动生产率更高的产品获益。√ 12、共同市场是经济一体化的最高阶段。× 完全的经济一体化是经济一体化的最高阶段。 13、战略性贸易政策常常用来支持处于竞争激烈产业中的企业。× 战略性贸易政策常常包括对高技术企业的补贴和其他支持。 14、布雷顿森林体系要求成员国采取浮动汇率制度。× 布雷顿森林体系要求成员国采取以美元为中心的固定汇率制度。 15、货币分析法认为，国际收支赤字的根本原因是国内货币供给大于国内货币需求。√ 16、在金本位制下，一国的高利率和资本流入将有助于该国自动调整国际收支赤字。√ 17、一价定律认为关税不能影响进口产品价格。× 一价定律认为关税能影响进口产品价格。 18、如果德国的利率高于美国，则马克将在远期市场上贴水卖出。√ 19、从日本进口汽车应记入美国国际收支经常账户的贷方。× 从日本进口汽车应记入美国国际收支经常账户的借方。 20、若美国通货膨胀高于英国，美元相对于英磅贬值。√ 三、选择题 1、设一年前美元对人民币的汇率是1美元等于8.2345元人民币，假设美国的物价比前一年上升8%，而中国的物价水平上升10%，则美元与人民币之间理论上的汇率为( A ) A.8.3870 B.8.085 C.10.2931 D.6.5876 2、列昂惕夫反论包括以下解释，除了( B )。 A美国对劳动密集型进口产品征收高额关税 B美国实际上比其贸易伙伴拥有更多的劳动力 C美国的出口产品密集使用了熟练劳动力 D美国倾向于出口需要大量科学和工程技术投入的高技术产品 3．根据相对购买力平价理论，如果英国的通货膨胀率为10％，美国为4%，那么（ C ） A 美元相对于英镑升值4％ B美元相对于英镑贬值4％ C美元相对于英镑升值6％ D美元相对于英镑贬值6％ 4、不能解释产业内贸易现象的理论有（ C ） A. 垄断竞争理论 B. 规模经济理论
社科院题库-国际经济学
1.林德重叠需求论的假设条件和主要观点。 重叠需求理论是由瑞典经济学家林德提出，其理论核心是：两国之间贸易关系的密切程度是由两国的需求结构与收入水平决定的。 重叠需求理论有两个假设条件： 1、消费者行为假设：假设在一国之内，需求受消费者的收入水平决定。不同收入阶层的消费者偏好不同，收入越高的消费者就越偏好奢侈品，收入越低的消费者就越偏好必需品，但如果消费者收入水平相同，则其偏好也相同。2、两国需求重叠的假定：厂商根据消费者的收入水平与需求结构来决定其生产方向与内容，而生产的必要条件是对其产品有效需求的存在；如果两国的平均收入水平相近，则两国的需求结构也必定相似。反之，如果两国的收入水平相差很大，则他们的需求结构也必存在显著的差异。 重叠需求理论的基本观点是，重叠需求是国际贸易产生的一个独立条件。两国之间的需求结构若是越接近，则两国之间进行贸易的基础就越雄厚。当两国的人均收入水平越接近时，则重叠需求的范围也就越大，两国重复需要的商品都有可能成为贸易品。如果各国的国民收入不断提高，则由于收入水平的提高，新的重复需要的商品便不断地出现，贸易也相应地不断扩大，贸易中的新品种就会不断地出现。所以，收入水平相似的国家，互相间的贸易关系就可能越密切；反之，如果收入水平相差悬殊，则两国之间重复需要的商品就可能很少，贸易的密切程度也就很小。 2.国际贸易比较优势理论 比较优势可以表述为：在两国之间，劳动生产率的差距并不是在任何产品上都是相等的。每个国家都应集中生产并出口具有比较优势的产品，进口具有比较劣势的产品（即“两优相权取其重，两劣相衡取其轻”），双方均可节省劳动力，获得专业化分工提高劳动生产率的好处。假设条（1）假定贸易中只有两个国家和两种商品（X与Y商品），这一个假设的目的是为了用一个二维的平面图来说明这一理论。（2）两国在生产中使用不同的技术。技术的不同导致劳动生产率的不同进而导致成本的不同。（3）模型只假定在物物交换条件下进行，没有考虑复杂的商品流通，而且假定1个单位的X产品和一个单位的Y产品等价（不过他们的生产成本不等）。（4）在两个国家中，商品与要素市场都是完全竞争的。（5）在一国内要素可以自由流动，但是在国际间不流动。（6）分工前后生产成本不变。（7）不考虑交易费用和运输费用，没有关税或影响国际贸易自由进行的其他壁垒。但是，在贸易存在的条件下，当两国的相对商品价格完全相等时，两国的生产分工才会停止比较优势理论。如果存在运输成本和关税，当两国的相对价格差小于每单位贸易商品的关税和运输成本时，两国的生产分工才会停止。（8）价值规律在市场上得到完全贯彻，自由竞争，自由贸易。（9）假定国际经济处于静态之中，不发生其他影响分工和经济变化。（10）两国资源都得到了充分利用，均不存在未被利用的资源和要素。（11）两国的贸易是平衡的，即总的进口额等于总的出口额。
《国际经济学》计算题及答案
计算题及答案 1. 在古典贸易模型中,假设A国有１2０名劳动力，Ｂ国有50名劳动力,如果生产棉花的话,Ａ国的人均产量是2吨，Ｂ国也是2吨；要是生产大米的话,A国的人均产量是10吨,Ｂ国则是16吨。画出两国的生产可能性曲线并分析两国中哪一国拥有生产大米的绝对优势？哪一国拥有生产大米的比较优势？ 思路：Ｂ国由于每人能生产１6吨大米,而A国每人仅生产10吨大米,所以B 国具有生产大米的绝对优势。 从两国生产可能性曲线看出A国生产大米的机会成本为０.2,而B国为0.125，所以B 国生产大米的机会成本或相对成本低于A国，B国生产大米具有比较优势。 2.下表列出了加拿大和中国生产1单位计算机和１单位小麦所需的劳动时间。假定生产计算机和小麦都只用劳动,加拿大的总劳动为600小时,中国总劳动为８00小时。 （1）计算不发生贸易时各国生产计算机和小麦的产量。 （2）哪个国家具有生产计算机的比较优势?哪个国家具有生产小麦的比较优势? （3）如果给定世界价格是1单位计算机交换22单位的小麦,加拿大参与贸易可以从每单位的进口中节省多少劳动时间?中国可以从每单位进口中节省多少劳动时间？如果给定世界价格是1单位计算机交换２4单位的小麦，加拿大和中国分别可以从进口每单位的货物中节省多少劳动时间？ （4）在自由贸易的情况下，各国应生产什么产品，数量是多少？整个世界的福利水平是提高还是降低了?试用图分析。(以效用水平来衡量福利水平）思路: （1）中国生产计算机的机会成本为１０0/4=25,加拿大为6０/3=2０ （2）因为加拿大生产计算机的机会成本比中国低,所以加拿大具有生产者计算机的比较优势，中国就具有生产小麦的比较优势。 （3）如果各国按照比较优势生产和出口，加拿大进口小麦出口计算机，中国进口计算机出口小麦。 加拿大进口一单位小麦需要出口1／22单位计算机，折合成劳动时间来算,生产 一单位小麦本国要用3小时，但生产１／2２单位计算机本国要用60／22小时劳 动，所以加拿大进口一单位小麦相当于用60／22小时的劳动换回本国３小时生 产的产品，节省了３-60/２2＝3／11小时的劳动时间。中国进口一单位计算机需 要出口22单位小麦，相当于用22＊4=8８小时的劳动换回本国需用100小时生产 的产品,节省了100-88＝1２小时的劳动时间。 如果世界价格是１单位计算机交换24单位的小麦,则相当于用60/24小时的劳动 换回本国３小时生产的产品，节省了3-60/24=１/２小时的劳动时间。中国进口 一单位计算机需要出口24单位小麦，相当于用24＊4=９6小时的劳动换回本国 需用1０0小时生产的产品，节省了１０0-96=4小时的劳动时间。
国际经济学复习题
比较利益：由英国经济学家托伦斯提出、嘉图发展的国际贸易理论。认为:即使一个国家生产每种产品都具有最高生产率，处于绝对优势,而另一个国家生产每种产品都处于绝对劣势,只要它们的劳动生产率在不同产品上存在区别,遵循“两利相权取其重,两弊相衡取其轻”的原则,便能从国际分工和贸易中获得利益。 出口的贫困增长：是指一国生产要素增加使产品出口增加时，该国的出口收入不但没有增加，反而减少了。造成这种局面的直接原因就是国际比价贸易条件的恶化。出口的贫困化增长主要发生在发展中国家，根源在于出口量随着生产能力提高而增加，引起国际市场价格下跌，进而造成贸易条件恶化。 要素禀赋：是指一国所拥有的可利用的经济资源的总量。它既包括自然存在的资源（如土地和矿产），也包括“获得性”资源（如技术和资本）。这是一个绝对量的概念。 要素禀赋理论：即赫克歇尔—俄林定理，简称Ｈ-Ｏ模型。在国际贸易中，一国的比较优势是由其要素丰裕度决定的。一国应生产和出口较密集地使用其较丰裕的生产要素的产品，进口较密集地使用其较稀缺的生产要素的产品。 要素价格均等化定理：即使生产要素不具备国际流动的条件，只要商品自由贸易得到充分的发展，那么各国同种生产要素的相对价格会趋于相等。同时，绝对价格也会趋于相等。要素密集度逆转：是指生产的某种商品，在劳动力相对丰富的国家中属于劳动密集型产品，但在资本相对丰富的国家中则属于资本密集型产品。 产业贸易理论：一国即出口又进口某种产业产品的贸易现象。具体主要指的是同一产业部门部的差异化产品的交换和中间产品的交流。按国际贸易标准分类至少前三位数相同的产品既出现在一国的进口项目中、又出现在该国的出口项目中。规模收益：当所有投入要素的使用量都按同样的比例增加时，这种增加会对总产量的影响。 规模收益是指涉及到厂商生产规模变化与产量变化之间的关系，如果生产规模的变化是由所有生产要素以相同比例扩大或减少而引起的，那么对应的产量变动就有三种情况：（1）如果产量增加的比率大于生产要素增加的比率，则生产处于规模收益递增阶段；（2）如果产量增加的比率等于生产要素增加的比率，则生产处于规模收益不变阶段；（3）如果产量增加的比率小于生产要素增加的比率，则生产处于规模收益递减阶段。 出口补贴：出口补贴又称出口津贴，是一国政府为了降低出口商品的价格，增加其在国际市场的竞争力，在出口某商品时给予出口商的现金补贴或财政上的优惠待遇。 进口配额：一国政府对一定时期进口的某些商品的数量或金额加以直接控制。在规定的期限，配额以的货物可以进口，超过配额不准进口，或征收较高关税后才能进口。简单而言，配额是对进口商品设置一定的限额，其目的与征收关税一样，为了限制进口，保护国工业。但与关税不同的是，进口配额是直接的数量控制而不是通过提高进口商品价格间接地减少进 口。 生产者剩余：生产者剩余是指生产者愿意接受的价格和实际接受的价格之间的差额。 消费者剩余：消费者在购买一定数量的某种商品时愿意支付的总数量和实际支付的总数量之间的差额 幼稚产业：某种产业由于技术经验不足、劳动生产率低下、产品成本高于世界市场价格，因而无法与国外产业竞争，但在关税、补贴等保护措施下继续生产一段时间，经过一段时间的生产能够在自由贸易条件下获利，达到其他国家水平而自
国际经济学试卷及答案
试卷(A)国际经济学一、选择题（2x15=30，每题只有一个正确答案） 1、如果dx、sx、dm和sm分别代表出口产品的需求弹性、出口产品的供给弹性、进口产品的需 求弹性和进口产品的供给弹性，则马歇尔—勒纳条件用公式表示为（） >1 dx+sx>1 B．｜｜A．｜dx+dm｜>1 ．｜sx+sm｜C．｜dm+sm｜>1 D） 2. “贫困化增长”的一个必要条件为：（ A．国家的增长偏向于出口产业。B．外国对该国的出口需求具有价格弹性。C．国家的消费 偏好高度偏向于出口商品。D．贸易在国民经济中比重不大。）3、从国际贸易对生产要素收 入分配的短期影响来看，自由贸易会导致（ ．生产进口竞争品部门使用的专门生产要素收入水平提高A ．生产进口竞争品部门使用的共同 生产要素收入水平下降B C．生产出口品部门使用的共同生产要素收入水平提高 D．生产出口品 部门使用的专门生产要素收入水平提高）、在商品的国际比价保持不变的情况下，偏向出口的 生产要素增长会（4 ．扩大进口品生产规模 BA．扩大出口品生产规模．使贸易规模保持不变C D．使贸易规模缩减）5、在货币主义的汇率决定理论中，与本币价值负相关的变量是（．外 国国民收入A．本国国民收入 B C．外国的利息率 D．外国货币 供给、不能解释产业内贸易现象的理论是（6 ） BA．重叠需求理论．规模 经济理论．要素禀赋理论C D．相互倾销理论 7、货币贬值对国内吸收的直接影响效应不包括（） A．货币余额效应 B.收入再分配效应 C.货币幻觉效应 D.贸易条件效应、世界贸易组织WT）是关贸总协定主持的 下列哪一回合谈判的结果 ．多哈回．乌拉圭回 ．东京回．安纳西回 、成员国间实行自由贸易优惠协定并统一外部关税，但成员国间要素尚未实现自由流动是 A.自由贸易 B.关税同 C.共同市 D.经济联 1、在幼稚产业的判定标准中，强调技术外溢和外部规模经济效果的是 ．李斯特标．肯普标 ．穆勒标．巴斯塔布尔标 1、根据蒙代尔提出的“分配法则，当一国失业和逆差并存时，为实现经济的内外平衡应采取的 政策搭配是 ．紧财政、松货．松财政、松货 ．松财政、紧货．紧财政、紧货 1、通常与进口替代战略相配合的政策措施包括 ．降低关税壁．高估本币价 ．放松外汇管．减少非关税壁 1、征收进口关税对于进口国来说 ．不利于与进口产品相竞争的生产 ．使国内同类产品的生产减
(完整)国际经济学考试题库(答案版)
一、(完整)国际经济学考试题库(答案版) 二、 三、 四、编辑整理： 五、 六、 七、 八、 九、尊敬的读者朋友们： 十、这里是精品文档编辑中心，本文档内容是由我和我的同事精心编辑整理后发布的，发布之 前我们对文中内容进行仔细校对，但是难免会有疏漏的地方，但是任然希望（(完整)国际经济学考试题库(答案版)）的内容能够给您的工作和学习带来便利。同时也真诚的希望收到您的建 议和反馈，这将是我们进步的源泉，前进的动力。 十一、本文可编辑可修改，如果觉得对您有帮助请收藏以便随时查阅，最后祝您生活愉快业绩进步，以下为(完整)国际经济学考试题库(答案版)的全部内容。 十二、
十三、试述H—O模型的主要内容并予以评价。 1、基本内容： 资本丰富的国家在资本密集型产品上相对供给能力较强，劳动丰富的国家则在劳动密集型产品上相对供给能力较强.根据比较优势原则，一国出口密集使用其丰富要素的产品，进口密集使用其稀缺要素的产品. 要素的自然禀赋—要素供给—要素的相对富饶程度-要素相对价格-生产成本差异—商品价格差异—贸易的发生 2、评价： 贡献：a、从一国经济资源优势解释国际贸易发生的原因；b、从实际优势出发决定贸易模式;c、从贸易对经济的影响分析贸易的作用。 局限性：a、禀赋并非贸易发生的充分条件；b、对需求因素未予以充分考虑，影响了理论对实际情况的分析;c、过分强调静态结果,排除技术进步及实际存在的情况，影响了理论的适用性。 十四、结合货币市场和外汇市场，以美元为本币，请画图美联储增加货币供给后，美元对欧元的汇率将如何变动。 外汇指的是以外国货币表示的，为各国普遍接受的，可用于国际间债权债务结算的各种支付手段。货币政策是指政府或中央银行为影响经济活动所采取的措施,尤指控制货币供给以及调控利率的各项措施。 一国货币供给的增加会使该国货币在外汇市场上贬值。美国的货币市场决定美元的利率,美元利率则影响维持利率平价的汇率.所以当美联储增加货币供给后，会导致美元相对欧元的贬值。但美元供给的变 动对长期利率和实际产出没有影 三、什么是恶性通货膨胀，可能导致恶性通货膨胀的原因以及应对措施。 恶性通货膨胀又称“超速通货膨胀”,是三位数以上的通货膨胀。指流通货币量的增长速度大大超过货币流通速度的增长,货币购买力急剧下降,物价水平加速上升，整体物价水平以极高速度快速上涨的现象,使民众对货币价值失去信心。由于货币的流通量增加快速,使货币变得没有价值时,人们会急于要以货币换取实物，人心惶惶的结果只会更加速通货膨胀的恶化，整体经济濒临崩溃边缘. 恶性通货膨胀是一种不能控制的通货膨胀,在物价很快地上涨的情况下，就使货币失去价值.在社会经济发展和运行中，如果某一国家或地区出现了恶性的通货膨胀、剧烈的汇率波动或严重的地区政治冲突，其发行的信用货币（纸币）将存在很大的风险。导致恶性通货膨胀的经济原因一般是纸币发行过多。 措施：控制货币供应量，调节控制社会总需求,增加商品有效供给. 四、为什么现实生活中会出现严重违背购买力平价的情况? 1。贸易壁垒和非贸易品 运输费用和贸易管制会使得商品在不同国家之间的流通成本变高,从而削弱作为购买力评价理论基础的一价定律的作用机制.由于非贸易品的存在，即使是相对购买力，也会出现系统性的偏差。 2.非自由竞争 当贸易壁垒和不完全竞争市场结构同时存在时，各国价格水平之间的联系会进一步弱化。 3。不同国家消费模式和价格水平计量方面的区别 生活在不同国家的人们的消费方式不同,而且由于相对购买力平价预测的是价格变动而非价格水平,所以不管各国用什么样的商品篮子来定义价格水平，它都是一种切合实际的概念,商品篮子中不同商品的相对价格发生变动可能会使得相对购买力平价无法经手不同官方价格指数的检验。 五、什么是比较优势，如何评价比较优势。 比较优势是指如果一个国家在本国生产一种产品的机会成本（用其他产品来衡量)低于在其他国家生产该产品的机会成本的话,则这个国家在生产该种产品上就拥有比较优势。