宏观经济学 (Karl Case, Ray Fair ).ppt

* of 47 The Heckscher-Ohlin Theorem The Heckscher-Ohlin theorem is a theory that explains the existence of a country’s comparative advantage by its factor endowments. According to the theorem, a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product. * of 47 Other Explanations forObserved Trade Flows Product differentiation is a natural response to diverse preferences within an economy, and across economies. Some economists also distinguish between gains from acquired comparative advantage and gains from natural comparative advantages. * of 47 Other Explanations forObserved Trade Flows Economies of scale may be available when producing for a world market that would not be available when producing for a limited domestic market. * of 47 Trade Barriers: Tariffs,Export Subsidies, and Quotas Protection is the practice of shielding a sector of the economy from foreign competition. A tariff is a tax on imports. A quota is a limit on the quantity of imports. * of 47 Trade Barriers: Tariffs,Export Subsidies, and Quotas Export subsidies are government payments made to domestic firms to encourage exports. Dumping refers to a firm or industry that sells products on the world market at prices below the cost of production. * of 47 U.S. Trade Policies and GATT The Smoot-Hawley tariff was the U.S. tariff law of the 1930s, which set the highest tariff in U.S. history (60 percent). It set off an international trade war and caused the decline in trade that is often considered a cause of the worldwide depression of the 1930s. * of 47 U.S. Trade Policies and GATT The General Agreement on Tariffs and Trade (GATT) is an international agreement singed by the United States and 22 other countries in 1947 to promote the liberalization of foreign trade. * of 47 Economic Integration Economic integration occurs when two or more nations join to form a free-trade zone. The E