哥伦比亚大学1993年秋季期中经济学试卷.pdf

免责申明 本资源由经济学家网站（ ）（ ）从互 联网搜集，仅供用于学习和交流，不得用于商业用途，否则后果由使 用者本人承担，本网站不承担连带责任. 经济学家（ ）（ ）为纯学术性网站， 资源丰富，书籍课件试题文献资料样样齐全，本站努力为中国经济学 教学和科研提供科研动力，为中国早日培养出自己的诺贝尔经济学奖 获得者贡献一点微薄的力量，欢迎您光临本网站，并希望您能够向您 的好友推荐本站. Midterm Exam: Economics 2530A, Fall 1993 ANSWER ALL QUESTIONS Short Questions: 10 Points Each 1. Is restricted trade superior to no trade? Prove your assertion. 2. Derive a general result regarding comparative advantage. Give an intuitive explanation of why no stronger result is possible in a general setting. 3. A large economy trading freely has a positive consumption externality in the exportable X, a negative consumption externality in the importable Y, a negative production externality in X, and a positive externality in the use of capital in the Y sector. (A) How many distortions are present? What is the minimum number of interventions that will generally be required to correct the indicated distortions? (B) Give two alternative ways that such a policy may be implemented. (C) Could it be implemented entirely in terms of factor tax cum subsidies? How? Or why not? 4. Demonstrate that for a large competitive country, a small move from free trade toward export promotion -- i.e. dx 0, dy 0, where x is the importable -- lowers welfare. 5. In a two country competitive world that initially has free trade, the imposition of a VER by country A lowers its own welfare but to the first order has no effect on country Bs welfare. True, False or Uncertain? Explain. 6. State and prove the Vanek Chain Proposition. Long Questions: 30 Points Each 7. Country Ones output vector in equilibrium is X = (20, 20, 10). The world output vector (including Country One) is X¯ = (100, 200, 200). Preferences are identical and homothetic. The free trade price vector is P = (1, 1.2, 1), and the worlds common equilibrium input- requirement matrix is: