国际经济学作业答案第七章
C h a p t e r7I n t e r n a t i o n a l F a c t o r M o v e m e n t s
Multiple Choice Questions
1. Which of the following differs in its essential analytical framework?
(a) International trade in goods
(b) International conflict resolution
(c) International trade in services
(d) International trade in factors of production
(e) International borrowing and lending
Answer: B
2. The slope of the production function measures
(a) the physical increase in output as country grows.
(b) the dollar-value increase in output as a country grows.
(c) the increase in number of workers as immigration proceeds.
(d) the marginal product of labor.
(e) the marginal product of capital.
Answer: D
3. International free labor mobility will under all circumstances
(a) increase total world output.
(b) improve the economic welfare of everyone.
(c) improve the economic welfare of workers everywhere.
(d) improve the economic welfare of landlords (or capital owners) everywhere.
(e) None of the above.
Answer: E
4. If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then
(a) workers in the labor abundant country would migrate to the capital abundant country.
(b) workers in the labor abundant country would wish to migrate to the capital abundant
country.
(c) workers in the labor abundant country would have no desire to migrate to the capital
abundant country.
(d) workers in the capital abundant country would wish to migrate to the labor abundant
country.
(e) workers in the capital abundant country would migrate to the labor abundant country.
Answer: C
5. During the mass migration period of late 19th-early 20th centuries,
(a) wages rose in the origin countries and fell in the destination countries.
(b) wages fell in the origin countries and rose in the destination countries.
(c) wages generally rose faster in the origin countries.
(d) wages generally rose faster in the destination countries.
(e) wages generally fell faster in the origin countries.
Answer: C
6. International borrowing and lending may be interpreted as one form of
(a) intermediate trade.
(b) inter-temporal trade.
(c) trade in services.
(d) unrequited international transfers.
(e) None of the above.
Answer: B
7. The relative price of future consumption is
(a) the interest rate.
(b) unknown at any given time.
(c) the real interest rate.
(d) the relative interest rate.
(e) None of the above.
Answer: C
8. A country that has a comparative advantage in future production of consumption goods
(a) will tend to be an international borrower.
(b) will tend to have low real interest rates.
(c) will tend to be an international investor or lender.
(d) will tend to have good work ethics.
(e) None of the above.
Answer: A
9. A U.S. multinational corporation
(a) has a controlling share in a foreign subsidiary and is not itself foreign controlled.
(b) is foreign controlled and has no controlling share in a foreign company.
(c) has a controlling share in a foreign subsidiary and may itself be foreign controlled by a
foreign company.
(d) is a U.S. company whose major markets are outside the United States.
(e) None of the above.
Answer: C
10. Why a good is produced in two different countries is known as the question of
(a) internalization.
(b) vertical integration.
(c) exploitation.
(d) location.
(e) None of the above.
Answer: D
11. Internalization deals with the question
(a) why workers prefer to work indoors
(b) internationalization
(c) why components are produced by one firm rather than by many.
(d) Why a good is produced in two different countries
(e) None of the above
Answer: C
12. The home location of mo st of the world’s large multinational companies is
(a) North America and Europe.
(b) North America and Asia.
(c) Europe and South America.
(d) Europe and Asia.
(e) None of the above.
Answer: A
13. Which of the following best refers to the outright construction or purchase abroad of
productive facilities by domestic residents?
(a) Foreign direct investment
(b) Portfolio Investment
(c) Short-term capital investment.
(d) Long-term capital investment
(e) None of the above.
Answer: A
14. Most direct investment in the United States has come from
(a) Japan.
(b) Canada.
(c) Western Europe.
(d) South America.
(e) Asia.
Answer: C
15. Most U.S. direct foreign investment occurs in
(a) communications.
(b) agriculture.
(c) petroleum.
(d) manufacturing.
(e) None of the above.
Answer: D
16. Most foreign direct investment in the United States occurs in
(a) communications.
(b) agriculture.
(c) petroleum.
(d) manufacturing.
(e) None of the above.
Answer: D
17. Multinational corporations may provide benefits to their home countries for the following
reasons except which one?
(a) Secure raw materials for the source country
(b) Allow for exports of products, which involve company-specific trade secrets
(c) Allow domestic firms to secure timely deliveries of commodities or products, which do not
enjoy a stable or deep market internationally
(d) Shift home country technology overseas via licensing
(e) None of the above.
Answer: D
18. Trade analysis involving multinational corporations differs from our conventional trade
analysis because multinational corporation analysis involves
(a) absolute cost differentials rather than comparative cost differentials.
(b) the international movement of factor inputs as well as that of finished goods.
(c) purely competitive markets rather than imperfectly competitive markets.
(d) portfolio investments rather than direct foreign investment.
(e) None of the above.
Answer: B
19. Direct foreign investment may take any of the following forms except
(a) investors buying bonds of an existing firm overseas.
(b) the creation of a wholly owned business overseas.
(c) the takeover of an existing company overseas.
(d) the construction of a manufacturing plant overseas.
(e) None of the above.
Answer: A
20. Which of the following could logically explain why foreign direct investment might be
attracted to the United States?
(a) U.S. wage rates exceeding the productivity of U.S. labor
(b) U.S. price ceilings that hold down the price of energy
(c) Especially high price/earning ratios associated with the stock of U.S. firms
(d) Anticipations of future reductions in U.S. non-tariff barriers
(e) None of the above.
Answer: B
21. Multinational corporations
(a) increase the transfer of technology between nations.
(b) make it harder for nations to foster activities of comparative advantage.
(c) always enjoy political harmony in host countries in which their subsidiaries operate.
(d) require governmental subsidies in order to conduct worldwide operations.
(e) None of the above.
Answer: A
22. American labor unions have recently maintained that U.S. multinational corporations have
been
(a) exporting American jobs by investing overseas.
(b) exporting American jobs by keeping investment in the United States.
(c) importing cheap foreign labor by shifting U.S. investment overseas.
(d) importing cheap foreign workers by keeping U.S. investment at home.
(e) None of the above.
Answer: A
23. Multinational corporations
(a) always produce primary goods.
(b) always produce manufactured goods.
(c) always produce services.
(d) may produce primary or manufactured goods.
(e) None of the above.
Answer: D
24. ___________ refers to highly educated and skilled people who migrate from poor developing
countries to wealthy industrial countries.
(a) Direct investment
(b) Portfolio investment
(c) Transfer pricing
(d) Brain drain
(e) None of the above.
Answer: D
25. International labor mobility
(a) leads to wage convergence by raising wages in destination country and lowering in source
country.
(b) is in accordance with the specific factors model
(c) is in accordance with the Heckscher-Ohlin factor proportions model.
(d) leads to wage convergence by raising wages in source and lowering them in destination
country.
(e) is in accordance with scale economy model.
Answer: D
26. In theory, labor mobility is
(a) a complete complement to trade flows.
(b) a partial complement to trade flows.
(c) a complete substitute for trade flows.
(d) a partial substitute for trade flows.
(e) None of the above.
Answer: C
27. In practice, international labor mobility is
(a) a complete complement to trade flows.
(b) a partial complement to trade flows.
(c) a complete substitute for trade flows.
(d) a partial substitute for trade flows.
(e) None of the above.
Answer: D
28. If one observes that Japan was traditionally a net foreign lender, one could conclude that
relative to its international trade and financial partners
(a) Japan’s inter-temporal production possibilities are biased toward future consumption.
(b) Japan’s inter-temporal production possibilities are larger than that of the other countries.
(c) Japan’s inter-temporal production possibilities are biased toward present consumption.
(d) Japan’s inter-temporal production possibilities are not biased.
(e) None of the above.
Answer: C
29. Rapidly growing developing countries tend to be borrowers on the international capital markets.
From this information we may surmise that they have a comparative advantage in
(a) capital goods.
(b) future income.
(c) disposable income.
(d) consumer goods.
(e) present income.
Answer: B
30. It may be argued that theoretically, international capital movements
(a) tend to hurt the donor countries.
(b) tend to hurt the recipient countries.
(c) tend to hurt labor in donor countries.
(d) tend to hurt labor in recipient countries.
(e) None of the above.
Answer: C
31. Transactions between branches of the same multinational corporations account for ________
of U.S. imports.
(a) one quarter
(b) one third
(c) one half
(d) three quarters
(e) all
Answer: C
32. The shift of labor-intensive assembly operations from the United States to Mexican
maqiladora may be best explained in terms of a theory of
(a) location.
(b) vertical integration.
(c) horizontal integration.
(d) internalization.
(e) None of the above.
Answer: A
33. When comparing the United States to the United Kingdom, between 1985 and 1990, the
relative growth of foreign-owned firms in manufacturing
(a) grew faster in the U.K., whose proportion of foreign-owned firms is larger.
(b) grew faster in the U.S., whose proportion of foreign-owned firms is larger.
(c) grew faster in the U.S., whose proportion of foreign-owned firms is smaller.
(d) grew faster in the U.K., whose proportion of foreign-owned firms is smaller.
(e) None of the above.
Answer: C
34. The inflow of foreign direct investment into the United States has always been perceived
(a) with trepidation.
(b) with resentment.
(c) with equanimity.
(d) with satisfaction.
(e) None of the above.
Answer: E
35. The purchase by Germany’s Daimler-Benz of America’s Chrysler corporation is generally
viewed as
(a) direct foreign investment typical of trends in the 1980s.
(b) a capital outflow from the United States, since Daimler-Benz “milked” the assets of
Chrysler.
(c) a major success story of globalization.
(d) an example of international vertical integration.
(e) None of the above.
Answer: E
36. In a typical short-run production function, as labor increases
(a) the marginal product of capital decreases.
(b) the overall product of labor decreases.
(c) the average product of labor decreases.
(d) the marginal product of labor decreases.
(e) None of the above.
Answer: D
37. American labor unions accuse U.S. multinational corporations of all except which?
(a) They enjoy unfair advantages in taxation.
(b) They export jobs by shifting technology overseas.
(c) They export jobs by shifting investment overseas.
(d) They operate at output levels where scale economies occur.
(e) None of the above.
Answer: D
Essay Questions
1. The Heckscher-Ohlin model is famous for being elegant and mathematically sophisticated, yet
failing to describe reality. One manifestation of this fact is Trefler’s Case of Missing Trade.
Explain what exactly is missing. In what sense is it missing? How would you explain why it is missing? How can a relaxation of the identical production functions explain the case of the
missing trade?
Answer: Trefler demonstrated that the actual volume of world trade is significantly less than that which would be predicted by the Heckscher-Ohlin model. One explanation is
that
North-South trade is especially less than would be predicted by a factor proportions model. If technologies differ in the poorer countries, then it is possible that the cost of
producing a product, which uses relatively much of their abundant factor may still be
higher than the cost of producing it in the other country.
2.Factor-intensity reversals describe a situation in which the production of a product may be
land-intensive in one country, and relatively labor intensive in another (at given relative wage levels). For example, cotton may be land intensive in the U.S., and labor intensive in Egypt
where land is relatively scarce and expensive. Suppose factor-intensity reversals were common.
How would that affect the conclusion that a country in which land is relatively scarce will not be the country with
a comparative advantage in the land-intensive product?
Answer: The answer here is straightforward (though it has various interesting implications).
In this case we cannot define or identify a product in terms of its relative factor
intensity (at all or any relative wage level). Therefore, the Heckscher-Ohlin Theorem
is ipso-facto inapplicable.
3. Why is it that North-South trade in manufactures seems to be consistent with the results or
expectations generated by the factor-proportions theory of international trade, whereas North-North trade is not?
Answer: There is a clear difference in relative factor availabilities between North and South countries, no matter how we define and measure the factors of production. Hence,
the factor-proportions theory of trade may be sensibly expected to explain the pattern
(though not the volume) of trade between these two groups of countries. However,
the North North trade partners do not vary significantly in their relative factor
availabilities, so that other forces, such as scale economies play a relatively large
role in determining trade patterns.
4. One of the commonly used assumptions in deriving the Heckscher-Ohlin model is that tastes
are homothetic, or that if the per capita incomes were the same in two countries, the
proportions of their expenditures allocated to each product would be the same as it is in the
other country. Imagine that this assumption is false, and that in fact, the tastes in each country are strongly biased in favor of the product in which it has a comparative advantage. How
would this affect the relationship between relative factor abundance between the two countries, and the nature (factor-intensity) of the product each exports? What if the taste bias favored the imported good?
Answer: If in fact national tastes were strongly biased in favor of the product in which the country enjoyed a comparative advantage, then we would expect a bias in favor of
rejecting the Heckscher-Ohlin Theorem in actual trade data. The engine driving the
H-O model is that a country should be expected to have a relatively low cost of
producing the good in which it has a comparative advantage. However, the
respective demand forces would tend to raise the price of this good, so that the
expected pattern would not generally be observed. However, if the tastes were biased
in favor of the imported good, then the predictions of the Heckscher-Ohlin Theorem
would be expected to be generally observed.
5. Why do you suppose that South-South trade does not conform in volume, but does conform in
pattern with expectations generated by the Heckscher-Ohlin model?
Answer: The pattern of trade is generally observed to conform to the Heckscher-Ohlin models expectations. That is, the developing countries tend to export labor-intensive goods,
such as textiles, and import capital-intensive goods such as machinery. The volume
however is quite lower than what would be expected from the Neoclassical model.
There are many possible reasons, such as financial crises necessitating premia in the
financing of this trade.
6. It has been argued that even if intra-European Union labor mobility were to be completely
removed, one should not expect to observe massive, or even large reallocations of populations with the E.U. Discuss
Answer: Theoretically, just as completely free trade consistent with Heckscher-Ohlin model (with no complete specialization) is associated with factor price equalization; so does
completely free labor mobility. It therefore follows that if intra E.U. trade flourishes,
as any restraints on trade there are abolished, the economic incentive for labor
mobility will be removed. Since language and cultural differences remain, we would
expect populations to tend to stay where they are.
Quantitative/Graphing Problems
1. In Home and Foreign there are two factors of production, land and labor, used to produce only
one good. The land supply in each country and the technology of production are exactly the same. The marginal product of labor in each country depends on employment as follows:
Number of Workers Employed Marginal Product of Last Worker
1 30
2 29
3 28
4 27
5 26
6 25
7 24
8 23
9 22
10 21
11 20
Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic migration ceases, what will be the levels of production, real wages and the income of
landowners in each country?
Answer: The total production in the world will increase, since the addition to production (the marginal product of labor) in the target country is larger for each worker than the
loss of production (also the marginal product of workers) in the emigration country.
The real wages will rise in the emigration country and fall in the immigration
country. Landlord incomes will rise in the immigration country and fall in the
emigration country.
2. Suppose Australia, a land (K)-abundant country and Sri-Lanka, a labor(L)-abundant country
both produce labor and land intensive goods with the same technology. Following the logic of the Heckscher-Ohlin model from Chapter 4, what will be the incentive for migration once trade is established between these two countries? Now, suppose that a tariff by one country creates an incentive for labor migration. From which country to which country will be the migration?
Explain how you arrived at your answer.
Answer: Once trade is established, there is no longer any incentive for (economic-based) immigration, since the real wages will be equalized in both. If a tariff is established
in Australia, then the price of the labor intensive good will be higher in Australia, as
will be the marginal product of labor and hence the real wage of workers there.
Hence, workers will immigrate from Sri-Lanka to Australia until the two domestic
prices are equalized.
3. Use the diagram below derived from Figure 4-4 to identify the pre-trade situation for Australia
and Sri-Lanka, as discussed in question 2 above. Where on the K/L axis will you find each of the two countries? Which of the two countries has a higher relative wage, w/r? Which product is the labor intensive, and which is the land intensive one? Show where the relative price of cloth to food will be found once trade opens between these two countries. Show where the
relative wages of each will appear.
Answer: You will find Sri-Lanka to the left of Australia on the K/L axis.
Australia has a higher relative wage.
Food is the land intensive product.
The relative price P C/P F is found between the two autarkic prices.
The post trade relative wage is between the two autarkic ones on the vertical axis. 4. Using the figure above from question 3, demonstrate what happens to the composition of
production (that is quantity of cloth per 1 unit of food) in Australia once trade is established between the two countries. Which country will export cloth? What happens to the relative
income of workers in Australia as a result of trade? Does it increase or decrease? Would land owners in Australia lobby for or against free trade? Would land owners in Australia lobby for or against free admittance of immigrant workers?
Answer: The proportion of food to cloth will increase in the production of Australia Sri Lanka will export cloth. The relative (and real) incomes of workers will fall in Australia as
a result of trade. Land Owners in Australia should lobby in favor of trade. They
would also lobby for free labor mobility (of workers into Australia), since the
marginal product of labor is high, the owners of land have much (Ricardian) rents to
gain from an inflow of workers.
5. Imagine that the relative capital abundance of Australia was so much greater than that of Sri-
Lanka, that we would have to locate Australia far to the right on the K/L axis. If this were so far to the right that there was no area of overlap on the w/r axis, then what product would
Australia export? Is this answer different from that in question 4 above? Will the relative
wages as calculated now be the same or different from those calculated in question 4?
Answer: Australia would still export food, which is the same as in question 4. As a result of trade, wages will fall in Australia and will rise in Sri-Lanka. However, in this case,
the wages in Australia will remain higher than in Sri-Lanka, creating an incentive for
migration from the latter to the former country.
国际经济学作业答案第一章
Chapter 1 Introduction Multiple Choice Questions Historians of economic thought often describe ___________ written by _______ and published in __________ as the first real exposition of an economic model. “Of the Balance of Trade,” David Hume, 1776 “Wealth of Nations,” David Hume, 1758 “Wealth of Nations,” Adam Smith, 1758 “Wealth of Nations,” Adam Smith, 1776 “Of the Balance of Trade,” David Hume, 1758 Answer: E From 1959 to 2000, the U.S. economy roughly tripled in size. U.S. imports roughly tripled in size. the share of US Trade in the economy roughly tripled in size. U.S. Imports roughly tripled as compared to U.S. exports. U.S. exports roughly tripled in size. Answer: C The United States is less dependent on trade than most other countries because the United States is a relatively large country. the United States is a “Superpower.” the military power of the United States makes it less dependent on anything. the United States invests in many other countries. many countries invest in the United States. Answer: A Ancient theories of international economics from the 18th and 19th Centuries are: not relevant to current policy analysis. are only of moderate relevance in today’s modern international economy. are highly relevant in today’s modern internationa l economy. are the only theories that actually relevant to modern international economy. are not well understood by modern mathematically oriented theorists. Answer: C
国际经济学作业复习资料第七章
Chapter 7 International Factor Movements Multiple Choice Questions 1. Which of the following differs in its essential analytical framework? (a) International trade in goods (b) International conflict resolution (c) International trade in services (d) International trade in factors of production (e) International borrowing and lending Answer: B 2. The slope of the production function measures (a) the physical increase in output as country grows. (b) the dollar-value increase in output as a country grows. (c) the increase in number of workers as immigration proceeds. (d) the marginal product of labor. (e) the marginal product of capital. Answer: D 3. International free labor mobility will under all circumstances (a) increase total world output. (b) improve the economic welfare of everyone. (c) improve the economic welfare of workers everywhere. (d) improve the economic welfare of landlords (or capital owners) everywhere. (e) None of the above. Answer: E 4. If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then (a) workers in the labor abundant country would migrate to the capital abundant country. (b) workers in the labor abundant country would wish to migrate to the capital abundant country. (c) workers in the labor abundant country would have no desire to migrate to the capital abundant country. (d) workers in the capital abundant country would wish to migrate to the labor abundant country. (e) workers in the capital abundant country would migrate to the labor abundant country. Answer: C
国际经济学课后答案解析
第一章绪论 1、列举出体现当前国际经济学问题的一些重要事件，他们为什么重要？他们都是怎么影响中国与欧、美、日的经济和政治关系的？当前的国际金融危机最能体现国际经济学问题，其深刻地影响了世界各国的金融、实体经济、政治等领域，也影响了各国之间的关系因此显得尤为重要；其对中国与欧、美、日的政治和经济关系的影响为：减少中国对上述国家的出口，影响中国外汇储备，贸易摩擦加剧，经济联系加强，因而也会导致中国与上述国家在政治上的对话与合作。 2、我们如何评价一国与他国之间的相互依赖程度？我们可以通过一国的对外贸易依存度来评价该国与他国之间的相互依赖程度，也可以通过其他方式来评价比如一国政府政策的溢出效应和回震效应以及对外贸易对国民生活水平的影响。 3、国际贸易理论及国际贸易政策研究的内容是什么？为什么说他们是国际经济学的微观方面?国际贸易理论分析贸易的基础和所得，国际贸易政策考察贸易限制和新保护主义的原因和效果。国际贸易理论和政策是国际经济学的微观方面，因为他们把国家看作基本单位，并研究单个商品的（相对）价格。 4、什么是外汇交易市场及国际收支平衡表？调节国际收支平衡意味着什么？为什么说他们是国际经济学的宏观方面？什么是宏观开放经济学及国际金融？外汇交易市场描述一国货币与他国货币交换的框架，国际收支平衡表测度了一国与外部世界交易的总收入与总支出的情况。调节国际收支平衡意味着调节一国与外部世界交易出现的不均衡（赤字或盈余）；由于国际收支平衡表涉及总收入和总支出，调节政策影响国家收入水平和价格总指数，因而他们是国际经济学的宏观方面；外汇交易及国际收支平衡调节涉及总收入和总支出，调整政策影响国家收入水平和价格总指数，这些内容被称为宏观开放经济学或国际金融。 5、浏览报刊并做下列题目：（1）找出5条有关国际经济学的新闻（2）每条新闻对中国经济的重要性或影响（3）每条新闻对你个人有何影响 A (1) 国际金融危机: 影响中国整体经济,降低出口、增加失业、经济减速等 (2) 美国大选：影响中美未来经济政治关系 (3) 石油价格持续下跌：影响中国的能源价格及相关产业 (4) 可口可乐收购汇源被商务部否决：《反垄断法》的第一次实施，加强经济法治 (5) 各国政府经济刺激方案：对中国经济产生外部性效应B 以上5条新闻对个人影响为：影响个人消费水平和就业前景 第二章比较优势理论 1、重商主义者的贸易观点如何？他们的国家财富概念与现在有何不同？重商主义者主张政府应当竭尽所能孤立出口，不主张甚至限制商品（尤其是奢侈类消费品）。重商主义者认为国家富强的方法是尽量使出口大于进口，而出超的结果是金银等贵重金属流入，而一个国家拥有越多的金银，就越富有越强大。现在认为一个国家生产力即生产商品的能力越高则一国越富强 2、亚当.斯密主张的贸易基础和贸易模式分别是什么？贸易所得是如何产生的？斯密倡导什么样的国际贸易基础？他认为政府在经济生活中的适当功能是什么？亚当.斯密主张的贸易基础是绝对优势；贸易模式为两国通过专门生产自己有绝对优势的产品并用其中一部分来交换器有绝对劣势的商品。通过生产绝对优势商品并交换，资源可以被最有效的使用，而且两种商品的产出会有很大的增长，通过交换就会消费比以前更多的商品从而产生了贸易所得；斯密倡导自由贸易，主张自由放任也就是政府尽可能少干涉经济
国际经济学作业答案第七章.docx
Ch a p t e r 7I n t e r n a t i o n a l F a c t o r Mo v e me n t s Multiple Choice Questions 1.Which of the following differs in its essential analytical framework? (a)International trade in goods (b)International conflict resolution (c)International trade in services (d)International trade in factors of production (e)International borrowing and lending Answer: B 2.The slope of the production function measures (a)the physical increase in output as country grows. (b)the dollar-value increase in output as a country grows. (c)the increase in number of workers as immigration proceeds. (d)the marginal product of labor. (e)the marginal product of capital. Answer: D 3.International free labor mobility will under all circumstances (a)increase total world output. (b)improve the economic welfare of everyone. (c)improve the economic welfare of workers everywhere. (d)improve the economic welfare of landlords (or capital owners) everywhere. (e)None of the above. Answer: E 4.If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then (a)workers in the labor abundant country would migrate to the capital abundant country. (b)workers in the labor abundant country would wish to migrate to the capital abundant country. (c)workers in the labor abundant country would have no desire to migrate to the capital abundant country. (d)workers in the capital abundant country would wish to migrate to the labor abundant country. (e)workers in the capital abundant country would migrate to the labor abundant country. Answer: C
国际经济学作业答案
C h a p t e r7I n t e r n a t i o n a l F a c t o r M o v e m e n t s Multiple Choice Questions 1. Which of the following differs in its essential analytical framework (a) I nternational trade in goods (b) I nternational conflict resolution (c) I nternational trade in services (d) I nternational trade in factors of production (e) I nternational borrowing and lending Answer: B 2. The slope of the production function measures (a) t he physical increase in output as country grows. (b) t he dollar-value increase in output as a country grows. (c) t he increase in number of workers as immigration proceeds. (d) t he marginal product of labor. (e) t he marginal product of capital.
Answer: D 3. International free labor mobility will under all circumstances (a) i ncrease total world output. (b) i mprove the economic welfare of everyone. (c) i mprove the economic welfare of workers everywhere. (d) i mprove the economic welfare of landlords (or capital owners) everywhere. (e) N one of the above. Answer: E 4. If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then (a) w orkers in the labor abundant country would migrate to the capital abundant country. (b) w orkers in the labor abundant country would wish to migrate to the capital abundant country. (c) w orkers in the labor abundant country would have no desire to migrate to the capital abundant country.
克鲁格曼《国际经济学》(国际金融)习题答案要点
〈〈国际经济学》（国际金融）习题答案要点 第12章国民收入核算与国际收支 1、如问题所述，GNP仅仅包括最终产品和服务的价值是为了避免重复计算的问题。 在国民收入账户中，如果进口的中间品价值从GNP中减去，出口的中间品价值加 到GNP中，重复计算的问题将不会发生。例如：美国分别销售钢材给日本的丰田公司和美国的通用汽车公司。其中出售给通用公司的钢材，作为中间品其价值不被计算到美国的GNP中。出售给日本丰田公司的钢材，钢材价值通过丰田公司进入日本的GNP，而最终没有进入美国的国民收入账户。所以这部分由美国生产要素创造的中间品价值应该从日本的GNP中减去，并加入美国的GNP。 2、（1）等式12-2可以写成CA =（S P-I）? （T -G）。美国更高的进口壁垒对私人储蓄、投资和政府赤字有比较小或没有影响。（2）既然强制性的关税和配额对这些变量没有影响，所以贸易壁垒不能减少经常账户赤字。 不同情况对经常账户产生不同的影响。例如，关税保护能提高被保护行业的投资，从而使经常账户恶化。（当然，使幼稚产业有一个设备现代化机会的关税保护是合理的。）同时，当对投资中间品实行关税保护时，由于受保护行业成本的提高可能使该行业投资下降，从而改善经常项目。一般地，永久性和临时性的关税保护有不同的效果。这个问题的要点是：政策影响经常账户方式需要进行一般均衡、宏观分析。 3、 （1）、购买德国股票反映在美国金融项目的借方。相应地，当美国人通过他的瑞士银行账户用支票支付时，因为他对瑞士请求权减少，故记入美国金融项目的贷方。这是美国用一个外国资产交易另外一种外国资产的案例。 （2）、同样，购买德国股票反映在美国金融项目的借方。当德国销售商将美国支票存入德国银行并且银行将这笔资金贷给德国进口商（此时，记入美国经常项目的贷 方）或贷给个人或公司购买美国资产（此时，记入美国金融项目的贷方）。最后，银行采取的各项行为将导致记入美国国际收支表的贷方。 （3）、法国政府通过销售其持有在美国银行的美元存款干预外汇市场，代表美国金融项目的借方项目。购买美元的法国公民如果使用它们购买美国商品，这将记入美国国际收支账户经常项目的贷方；如果用来购买美国资产，这将记入美国国际收支账户金融项目的贷方。 （4）假定签发旅行支票的公司使用支票账户在法国进行支付。当此公司支付餐费给 法国餐馆时，记入美国经常项目的借方。签发旅行支票的公司必须销售资产（消耗 其在法国的支票账户）来支付，从而减少了公司在法国拥有的资产，这记入美国金融项目的贷方。 （5）、没有市场交易发生。 （6）离岸交易不影响美国国际收支账户。 4、购买answering machine记入New York收支账户的经常项目借方，记入New Jersey 收支账户经常项目的贷方。当New Jersey的公司将货款存入New York银行时，记入New York的金融项目的贷方和New Jersey金融项目的借方。如果交易用现金进 行支付，则记入New Jersey金融项目的借方和New York金融项目的贷方。New Jersey 获得美元现钞（从New York进口资产），而New York则减少了美元（出口美元资产）。最后的调整类似于金本位制下发生的情况。5、
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)金融名词解释
国际收支的概念： 狭义的：指在一定时期内所发生的到期立即结清的外汇收支。(是建立在外汇收支的基础上的） 广义的：指一个国家或地区和世界上其他国家或地区之间由于贸易、非贸易和资本往来而引起国际间资金移动，从而发生的一种国际间资金收支行为。（是建立在交易基础上的） IMF定义：一国的国际收支是一国居民在一定时期内与外国居民之间的经济交易的系统记录。 国际收支平衡表的概念：是指按一定的编制原则和格式，对一个国家一定时期内的国际经济交易进行分类、汇总、以反映和说明该国国际收支状况的统计报表。 自主性交易：经济主体或居民个人等出于某种自主性的目的如追求利润、减少风险、资产保值、逃税避税、逃避管制、 投机等等动机而进行的交易，是主动的。 补偿性交易：又称调节性交易，中央银行或货币当局出于调节国际收支差额、维护国际收支平衡、维持汇率稳定的目的 而进行的交易。是被动的。 外汇的概念; 动态涵义:是指一种国际汇兑行为,即把一国货币兑换成另一国货币,借以清偿国际间债权债务关系的一种专门性的经营 活动. 静态涵义:是指它是一种以外币表示的支付手段,用于国际间的结算. 自由外汇:通常必须是以外币表示的、不同形式的、可以在市场上流通、自由兑换的有价凭证。自由外汇无需经国家外 汇管理机关批准，在国际金融市场可以自由转换为其他国家的外汇，同时在国际交往中能作为支付手段广泛地使用和流通。 记帐外汇：又称双边外汇或协议外汇，即不经货币发行国批准，不能自由兑换成其他货币，或对第三国进行支付的外汇。即是指在双边协议安排之下进行清算时所用外汇。 外汇汇率(Foreign Exchange Rate)是一国货币折算成另一国货币的比率.即在两国间,用一国货币所表示的另一国货币的 比率.或者说,汇率是两种不同货币之间的比价,它反映一国货币的对外价值.汇率又称汇价,在实际的外汇买卖中,又称外汇行市. 关键货币是指在一国的国际贸易与国际收支中使用最多、在外汇储备中所占比重最大、自由兑换性最强、汇率行情最为稳定、普遍为各国所接受的货币。 外汇市场（Foreign Exchange Market):是指进行外汇交易（买卖）的场所，或网络。（前者指有形市场而言，后者则指无 形市场而言）外汇买卖既有本币与外币之间的买卖，也有不同币种之间的外汇买卖。 外汇银行：是外汇市场的主体，所有外汇业务都有外汇银行参与其间。它是由中央银行指定或授权经营外汇业务的银行， 包括本国的专营外汇业务的专业银行、兼营外汇业务的商业银行及其它金融机构、外国银行设在本国的分支机构及其 它金融机构等。 外汇经纪人:即在外汇银行和顾客之间起中介作用的,为买卖双方接洽业务牵线搭桥促成交易达成并收取佣金的汇兑商. 即期交易：（现汇交易）是买卖双方约定在成交后的两个营业日内办理交割的外汇交易方式。现汇交易是最基本的外汇 交易，也是外汇市场上交易量最大的交易。 远期交易：（期汇交易）是一种预约性质的交易，指外汇交易成交后，根据合同的规定，在约定的日期按照约定的汇率 办理交割的外汇交易。 套期保值：指预计将来某一时间要支付或收入一笔外汇时，买入或卖出同等金额的远期外汇，以避免因汇率变动而造成
国际经济学复习课后答案
第一章练习与答案 1．为什么说生产和消费只取决于相对价格？ 答：经济主体的经济行为考虑的是所有商品的价格，而不是单一价格因素。 3.在只有两种商品的情况下，当一个商品达到均衡时，另外一个商品是否也同时达到均衡？试解释原因。 答案：是 4.如果生产可能性边界是一条直线，试确定过剩供给（或需求）曲线。 答案提示： 5.如果改用Y商品的过剩供给曲线（B国）和过剩需求曲线（A国）来确定国际均衡价格，那么所得出的结果与图1—13中的结果是否一致？ 答案提示：不一定一致，x商品的价格是Px/Py，而y商品的价格是Py/Px. 7.如果国际贸易发生在一个大国和一个小国之间，那么贸易后，国际相对价格更接近于哪一个国家在封闭下的相对价格水平？ 答案提示：贸易后，国际相对价格将更接近于大国在封闭下的相对价格水平。 8.根据上一题的答案，你认为哪个国家在国际贸易中福利改善程度更为明显些？ 答案提示：小国。 第二章答案 1．根据下面两个表中的数据，确定（1）贸易前的相对价格；（2）比较优势型态。 表1 X、Y的单位产出所需的劳动投入
A B X Y 6 2 15 12 表2 X、Y的单位产出所需的劳动投入 A B X Y 10 4 5 5 答案提示：首先将劳动投入转化为劳动生产率，然后应用与本章正文中一样的方法进行比较。（表2-2（a）和表2-2（b）部分的内容） 2．假设A、B两国的生产技术条件如下所示，那么两国还有进行贸易的动机吗？解释原因。 表3 X、Y的单位产出所需的劳动投入 A B X Y 4 2 8 4 答案提示：从绝对优势来看，两国当中A国在两种产品中都有绝对优势；从比较优势来看，两国不存在相对技术差异。所以，两国没有进行国际贸易的动机。 3．如果一国在某一商品上具有绝对优势，那么也必具有比较优势吗？ 答案提示：不一定，比较优势的确定原则是两优取最优，两劣取最劣。
武大国际经济学名词解释
第一章国际收支 ●国际收支：是在一定时期内一国居民对其他国家居民所进行的全部经济交易的系统记录。 国际收支分文狭义和广义的概念：狭义上是指一国的外汇收支，即凡是在国际经济交易中必须通过外汇收支进行清算的交易，都属于国际收支的内容。广义上指不涉及外汇收支的各种经济交易，如清算支付协定项目上的记帐、易货贸易等也包括在内。 ●国际收支平衡表（Balance of Payments Statements）也叫国际收支账户，是一国将其一 定时期内的全部国际经济交易，根据交易的内容与范围，按照特定账户分类和复式记账原理表示的会计报表。 ●经常账户（Current Account）又称为往来账户，反映了一个经济体与其他经济体之间真 实资源的转移情况，并在整个国际收支账户中占主要地位。具体包括货物、服务、收益和经常转移等四个子账户。 ●货物（Goods）。包括一般商品、用于加工的货物、货物修理、各种运输工具在购买的 货物和非货币黄金。IMF建议，货物按边境的离岸价格（FOB）计价。 ●服务（Services）。包括运输、旅游、通讯、建筑、金融、保险、计算机和信息服务、专 有权的使用费和特许费以及其他商业服务。 ●收益（Income）。包括居民和非居民之间的两大类交易：一是职工报酬，主要指支付给 非居民工人（如季节性的短期工人）的工资报酬。二是投资收益，包括直接投资、证券投资和其他投资的收入和支出，以及储备资产的收入。 ●经常转移（Current Transfer）。是排除了以下资产所有权转移的单方面价值转移：一是 固定资产所有权的转移；二是同固定资产收买/放弃相联系或以其为条件的资产转移； 三是债权人不索取任何回报而取消的债务。经常转移包括各级政府的转移（如政府间经常性的国际合作、对收入和财政支付的经常性税收等）和其他转移（如工人汇款）。 ●资本和金融账户（Capital and Financial Account）主要反映资本所有权在一国与其他国 家之间的移动，即国际资本流动。具体包括资本账户和金融账户两大部分。 ●资本转移。即固定资产所有权的转移、同固定资产收买/放弃相联系或以其为条件的资 产转移和债权人不索取任何回报而取消的债务。 ●直接投资（Direct Investment）。主要特征是投资者对另一经济体的企业拥有永久利益。 这一永久利益意味着直接投资者和企业之间存在着长期的关系，并且投资者对企业经营管理施加着相当大的影响。直接投资可以采取在国外直接设立分支企业的形式，也可以采取购买国外企业一定比例以上股票（最低10%）的形式。 ●证券投资（Portfolio Investment）。主要对象是股本证券和债务证券。股本证券包括股票、 参股和其他类似文件（如美国的存股证）；债务证券可以分为期限一年以上的中长期债券、货币市场工具（如国库券、银行承兑汇票、大额可转让存单等）和其他派生金融工具。 ●储备资产（Reserve Assets）。包括货币当局可随时动用并控制以达到一定目的的外部资 产，主要有货币黄金、特别提款权、在IMF的储备头寸、外汇资产和其他债权。 ●自主性交易（Autonomous Transaction），又叫事前交易（Ex-ante Transaction），是指那 些基于商业（利润）动机或其他考虑而独立发生的交易，如商品、劳务、技术交流，收益的转移，无偿的转让，各种形式的对外直接投资和证券投资等等。 ●国际收支均衡（Equilibrium of BP），即国内经济处于均衡状态下的自主性交易平衡， 或者说，国内经济处于充分就业、物价稳定和经济增长状态下的自主性交易平衡。 ●偶发性失衡（Accidental Imbalance） ●又称临时性失衡（Temporary Imbalance），即短期的、由非确定和偶然因素引起的国际 收支失衡。
第一章国际经济学教案导论(可编辑修改word版)
一、国际经济学的含义 第一章绪论 第一节国际经济学的产生与发展 研究开放条件下的生产、交换行为以及价格、货币和宏观政策。由国际贸易经济学和国际货币经济学组成。（研究世界范围内商品、服务和资本的生产、分配和消费活动的学科） 二、国际经济学的产生 1、家政学：家庭是经济行为的基本单位，追求在收入既定情况下的福利最大化。 家政学――家庭―――收入既定福利最大 2、微观经济学：微观经济学以企业为经济活动中心，研究企业在资源既定的条件下获得最大的利润，消费者在收入既定的条件下获得最大的效用。 微观经济学着重探讨生产什么、为谁生产、如何生产。 3、宏观经济学：研究国民经济，对一个国家的经济总量（如经济增长、就业等）进行分析。宏观经济的目标包括经济增长、充分就业、稳定物价和国际收支平衡。 4、国际经济学 随着历史的发展，国家间的经济往来日益频繁，彼此经济关系日益紧密，国家于是成为国际经济往来和活动的主体，出现了各种国际经济往来的形式，国际经济因而产生。为了探讨国际经济关系的内在联系，就有必要产生独立的经济学分支学科，即国际经济学。 国际经济学是西方经济学的一般理论在国际经济中的延伸和应用，是西方经济学的分支 学科。 国际经济学的两大特征 （1）国际交易不同于国内交易。国际交易中普遍存在对贸易和要素流动的自然的和人为的阻碍。如，劳动力和资本在国家间的流动性远远低于其在一国之内自由流动的程度；关税和非关税壁垒在一国之内一般是不存在的；各国使用不同的货币，使得国际交易远比国内交易复杂得多。 （2）国际经济关系发生在各个独立的经济实体之间。各国政府制定政策考虑的往往是本国的福利和稳定，而非全世界的福利和稳定，因此往往导致在一国看来是最佳的选择，而在世界范围内看并非最佳；此外，经济间的连锁机制使得一国的经济政策，如财政政策和货币政策，不仅会影响着本国的资源配置，同时还会影响他国的资源配置。 三、国际经济学的发展 1、国际贸易理论的发展 （1）古典贸易理论：斯密的绝对优势理论、李嘉图的比较优势理论 （2）新古典贸易理论：国际贸易理论的标准模型、H-O 模型 （3）当代贸易理论：打破了已往的“规模收益不变和完全竞争”的基本假设，研究重点由国家间的差异转向市场结构和厂商行为方面，着重研究不完全竞争市场下国际贸易的新特点以及贸易政策。 2、国际金融理论的发展 （1）金本位制下的“价格－铸币流动机制” （2）布雷顿森林体系下的国际收支收入调节机制 （3）浮动汇率下的国际收支货币分析方法 （4）开放经济动态变化的跨时分析方法
国际经济学作业答案-第六章
Chapter 6 Economies of Scale, Imperfect Competition, and International Trade Multiple Choice Questions 1. External economies of scale arise when the cost per unit (a) rises as the industry grows larger. (b) falls as the industry grows larger rises as the average firm grows larger. (c) falls as the average firm grows larger. (d) remains constant. (e) None of the above. Answer: B 2. Internal economies of scale arise when the cost per unit (a) rises as the industry grows larger. (b) falls as the industry grows larger. (c) rises as the average firm grows larger. (d) falls as the average firm grows larger. (e) None of the above. Answer: D 3. External economies of scale (a) may be associated with a perfectly competitive industry. (b) cannot be associated with a perfectly competitive industry. (c) tends to result in one huge monopoly. (d) tends to result in large profits for each firm. (e) None of the above. Answer: A 4. Internal economies of scale (a) may be associated with a perfectly competitive industry. (b) cannot be associated with a perfectly competitive industry. (c) are associated only with sophisticated products such as aircraft. (d) cannot form the basis for international trade. (e) None of the above. Answer: B
国际经济学(国际金融部分)
国际经济学(国际金融部分) 导言 国际金融是研究国际货币和资本运动规律及其影响因素的一门科学。它涉及国际收支、外汇实务、国际借贷、国际风险、国际货币制度等方面的基本理论、基本知识和基本技能，是学习进行国际经济、贸易、金融、投资等各项涉外业务活动的基础。 当今世界经济一体化发展势不可挡，国际金融所发挥的作用和影响范围也越来越大。国际金融市场将世界各国经济紧密的联系在一起。因此，一国外汇市场上的风云变幻可能引起多方面的经济波动。这些波动也可能对世界经济造成重要的影响。同样，多种经济活动也会对国际金融形成多方面的影响。学习和研究现代国际金融和实务具有非常重要的理论意义和实际意义。 第1章国际收支 1.1 国际收支的基本概念 1.1.1 国际收支的含义 国际收支（Balance of Payments)即为国际间的外汇收支,反映一个国家在一定时期(通常为一年)内同其它国家在政治、经济、文化等方面交往所发生的外汇收支的总和。一国的国际收支经常是不平衡的。如果收支大于支出，有了盈余，这个差额就叫国际收支顺差（Surplus)；如果支出大于收入，则出现亏损，这个差额就叫国际收支逆差（Deficit).一般在顺差之前,冠以“+”号(多省略);在逆差之前,冠以“－”号,或以红字书写表示国际收支发生了赤字。 国际货币基金组织（IMF）对国际收支下的定义是：“在一定时期内，一国居民对其他国家的居民所进行的全部经济交易的记录。“居民”一词包括居留在一国的一切人（居住一年以上的）、各种机构和政府机关，实际上在该国从事经营的企业（如外国企业的分支机构）也算居民；逗留时间在一年以上的留学生，旅游者也算所在国居民。而外交人员和外国部队系临时居住性质，不属于居民；国际性机构不属于任何一国居民。 1.2 国际收支平衡表 1.2.1 国际收支平衡表的概念 国际收支平衡表（Balance of Payments Statement)是指在一定时期内，对于一国与他国居民之间所进行的一切经济交易交易系统记录的报表。 国际收支平衡表是按照复式簿记的原理编制出来的表格。一切国际金融交易都在国际收支平衡表上的借贷双方得到表示。 1.2 国际收支平衡表 国际收支平衡表中每一笔具体的国际经济交易，在甚麽情况下列入贷方？在甚麽情况下列入借方？ 处理这一问题的原则是：任何国际金融交易，凡是使本国对外付款的列入借方，凡是使外国对本国付款或负有付款义务的列在贷方。
《国际经济学》(国际金融)习题答案要点(1)上课讲义
《国际经济学》(国际金融)习题答案要点 (1)
《国际经济学》（国际金融）习题答案要点 第12章 国民收入核算与国际收支 1、如问题所述，GNP 仅仅包括最终产品和服务的价值是为了避免重复计算的问题。在国民收入账户中，如果进口的中间品价值从GNP 中减去，出口的中间品价值加到GNP 中，重复计算的问题将不会发生。例如：美国分别销售钢材给日本的丰田公司和美国的通用汽车公司。其中出售给通用公司的钢材，作为中间品其价值不被计算到美国的GNP 中。出售给日本丰田公司的钢材，钢材价值通过丰田公司进入日本的GNP ，而最终没有进入美国的国民收入账户。所以这部分由美国生产要素创造的中间品价值应该从日本的GNP 中减去，并加入美国的GNP 。 2、（1）等式12-2可以写成()()p CA S I T G = -+-。美国更高的进口壁垒对私人储蓄、投资和政府赤字有比较小或没有 影响。（2）既然强制性的关税和配额对这些变量没有影响，所以贸易壁垒不能减少经常账户赤字。 不同情况对经常账户产生不同的影响。例如，关税保护能提高被保护行业的投资，从而使经常账户恶化。（当然，使幼稚产业有一个设备现代化机会的关税保护是合理的。）同时，当对投资中间品实行关税保护时，由于受保护行业成本的提高可能使该行业投资下降，从而改善经常项目。一般地，永久性和临时性的关税保护有不同的效果。这个问题的要点是：政策影响经常账户方式需要进行一般均衡、宏观分析。 3、 （1）、购买德国股票反映在美国金融项目的借方。相应地，当美国人通过他的瑞士银行账户用支票支付时，因为他对瑞士请求权减少，故记入美国金融项目的贷方。这是美国用一个外国资产交易另外一种外国资产的案例。 （2）、同样，购买德国股票反映在美国金融项目的借方。当德国销售商将美国支票存入德国银行并且银行将这笔资金贷给德国进口商（此时，记入美国经常项目的贷方）或贷给个人或公司购买美国资产（此时，记入美国金融项目的贷方）。最后，银行采取的各项行为将导致记入美国国际收支表的贷方。 （3）、法国政府通过销售其持有在美国银行的美元存款干预外汇市场，代表美国金融项目的借方项目。购买美元的法国公民如果使用它们购买美国商品，这将记入美国国际收支账户经常项目的贷方；如果用来购买美国资产，这将记入美国国际收支账户金融项目的贷方。 （4）假定签发旅行支票的公司使用支票账户在法国进行支付。当此公司支付餐费给法国餐馆时，记入美国经常项目的借方。签发旅行支票的公司必须销售资产（消耗其在法国的支票账户）来支付，从而减少了公司在法国拥有的资产，这记入美国金融项目的贷方。 （5）、没有市场交易发生。 （6）离岸交易不影响美国国际收支账户。 4、购买answering machine 记入New York 收支账户的经常项目借方，记入New Jersey 收支账户经常项目的贷方。当New Jersey 的公司将货款存入New York 银行时，记入New York 的金融项目的贷方和New Jersey 金融项目的借方。如果交易用现金进行支付，则记入New Jersey 金融项目的借方和New York 金融项目的贷方。New Jersey 获得美元现钞（从New York 进口资产），而New York 则减少了美元（出口美元资产）。最后的调整类似于金本位制下发生的情况。 5、 （1）、非储备金融项目余额为盈余5亿美元，而经常项目赤字10亿美元，所以当年Pecunia 国际收支余额（官方结算余额）为-500万美元。该国不得不为弥补经常项目赤字提供一亿美元的资金，所以该国当年净国外资产减少1亿美元。 （2）、Pecunia 中央银行为经常项目赤字提供的资金不能由私人资本流动来弥补。仅仅当外国中央银行需要Pecunia 资产时才能使Pecunia 中央银行避免使用5亿美元储备来为弥补经常项目赤字提供资金。因此，Pecunia 中央银行储备资产减少了5亿美元，这部分在其国际收支表上将以官方资本形式流入（同样的数量）。 （3）、如果外国官方资本流入Pecunia 6亿美元，则该国有1亿美元的国际收支盈余。即，该国需要10亿来弥补经常项目赤字，但有11亿流入了该国。因此，Pecunia 中央银行必须使用额外的一个亿借贷给国外从而增加其储备。被外国中央银行购买的Pecunia 资产作为流出进入该他们国家的国际收支账户借方。基本原理是该交易导致外国对出售资产方的Pecunia 支付。 （4）、与非中央银行交易一起，Pecunia 国际收支账户将表现为外国官方储备资产增加6亿美元（金融项目贷方或资本流入）和Pecunia 在国外持有的官方储备资产增加1亿美元（金融项目借方或资本外流）。当然，净资本流入1亿美元仅仅用来弥补经常项目赤字。 6、 从长期来看，经常项目赤字或盈余是一种非稳定的状态。下面是一个赤字被重视例子。例如，为了未来有较高的国民收入而现在借款提高其生产能力。但是，经常项目赤字的任何时期，为了支付对外国人发生的债务，意味着由于缺少收入而减少相应时期的支出。在缺乏良好的投资机会时，相对于收入，一国最好的方式可能是在一段时期内进行消费方面的调整。 一国中央银行持有的外汇储备随着其官方结算余额非零而发生变化。中央银行利用外汇储备来影响外汇汇率。外汇储备的减少将会限制中央银行影响或盯住汇率的能力。对于一些国家（特别是发展中国家），当向国外借款困难时，中央银行储备是保持消费与投资的重要方式。高储备也可以起到传递信号的作用，使国外的借款者确信对该国信贷是值得的。 7、官方结算余额也称为国际收支余额，它表示相对于由外国政府机构持有的美元储备变化，由美国政府机构（如美联储、财政部）持有的国际储备的净变化额。这个账户提供了外汇市场上干预程度的部分情况。例如，假设Bundesbank 购买美元并存入London bank 的欧洲非美国银行的账户。虽然这项交易是干预的形式，但并不会反映在美国官方结算余额。相反，当London bank 将这笔存款划给其在美国的账户，此交易将以私人资本流的形式出现。 8、可以，如果资本与金融项目盈余超过经常项目赤字。国际收支余额等于经常项目盈余加上资本金融项目盈余。如：经常项目赤字100万美元，但存在比较大的资本流入且资本与金融项目盈余102万美元，故国际收支存在2万的盈余。 这个问题可以用来介绍外汇市场干预（第17章）。在20世纪80年代的上上半期，美国政府对外汇市场无任何干预。1982-1985年间，实际数字显示国际收支存在较小的盈余，教材结果是国际收支余额为零，而这些年经常项目存在明显的较大赤字。因此，1982-1985年美国资本流入超过了其经常项目的赤字。 第13章 汇率与外汇市场：资产方法 1、汇率为每欧元1.5美元时，一条德国香肠bratwurst 等于三条hot dog 。其他不变时，当美元升值至1.25$per Euro, 一条德国香肠bratwurst 等价于2.5个hot dog 。相对于初始阶段，hot dog 变得更贵。