d国际经济学基础 作业.doc

(P46) What were the mercantilists' views on trade? How were their views different from those of Adam Smith ? What is the relevance of all this today ? Answer: ①The mercantilists believed that a nation could gain in international trade only at expense of other nations. As a result ,they advocated restrictions on imports , incentives for exports , and strict government regulation of all economic activities . ②The mercantilists believed that one nation could gain only at the expense of other nations and advocated strict government control of all economic activity and trade;Adam believed that all nations would gain from free trade and strongly advocated a policy of laissez-faire. ③All of this is relevant today because many of the arguments made in favor of restricting international trade to protect domestic jobs are very similar to the mercantilists arguments made three or four centuries ago. That is why we can say that”mercantilists is alive and well in the twenty-first century”.Thus we have to be prepared to answer and demonstrate that these arguments are basically wrong. (P46) What was the basis for and the pattern of trade according to Adam Smith ? How were gains from trade generated ? What policies did Smith advocate in international trade ? What did he think was the proper function of government in the economic life of the nation ? Answer: The basis for trade: Absolute advantage if one nation is more efficient than another nation in the production of one commodity, the nation has absolute advantage in that commodity. The pattern of trade: Both nations can gain by each specializing in the production of the commodity of its absolute advantage and exporting part of its output to the other nation for the commodity of its absolute disadvantage. (P133) What is meant by the optimum tariff ? What is its relationship to changes in the nation’s terms of trade and volume of trade ? Answer: The optimum tariff is the tariff that maximizes the net benefit resulting from the