经济学原理对应练习 09经济学原理对应练习 09.docVIP

Chapter 9 Application: International Trade Multiple Choice 1. An important factor in the decline of the U.S. textile industry over the past 100 or so years is a. foreign competitors that could produce quality textile goods at low cost. b. lower prices of goods that are substitutes for clothing. c. a decrease in Americans’ demand for clothing, due to increased incomes and the fact that clothing is an inferior good. d. the fact that the minimum wage in the U.S. has failed to keep pace with the cost of living. ANS: A PTS: 1 DIF: 1 REF: 9-0 TOP: International trade MSC: Interpretive 2. With which of the Ten Principles of Economics is the study of international trade most closely connected? a. People face tradeoffs. b. Trade can make everyone better off. c. Governments can sometimes improve market outcomes. d. Prices rise when the government prints too much money. ANS: B PTS: 1 DIF: 1 REF: 9-0 TOP: International trade MSC: Interpretive 3. A logical starting point from which the study of international trade begins is a. the recognition that not all markets are competitive. b. the recognition that government intervention in markets sometimes enhances the economic welfare of the society. c. the principle of absolute advantage. d. the principle of comparative advantage. ANS: D PTS: 1 DIF: 1 REF: 9-0 TOP: International trade | Comparative advantage MSC: Interpretive 4. A tax on an imported good is called a a. quota. b. tariff. c. supply tax. d. trade tax. ANS: B PTS: 1 DIF: 1 REF: 9-1 TOP: Tariffs MSC: Definitional 5. The price of a good that prevails in a world market is called the a. absolute price. b. relative price. c. comparative price. d. world price. ANS: D PTS: 1 DIF: 1 REF: 9-1 TOP: Price | World trade MSC: Definitional 6. The price of cotton that prevails in international markets is called the a. export price of cotton. b. import price of cotton. c. comparative-advantage price of cotton. d. world price of cotton. ANS: D PTS: 1 DIF: 1 REF: 9-1 TOP: Internationa