国际贸易练习题分析.docVIP

Chapter 1Introduction (Multiple Choice Questions 1. Historians of economic thought often describe ___________ written by _______ and published in __________ as the first real exposition of an economic model. (a) “Of the Balance of Trade,” David Hume, 1776 (b) “Wealth of Nations,” David Hume, 1758 (c) “Wealth of Nations,” Adam Smith, 1758 (d) “Wealth of Nations,” Adam Smith, 1776 (e) “Of the Balance of Trade,” David Hume, 1758 Answer: E 2. From 1959 to 2000, (a) the U.S. economy roughly tripled in size. (b) U.S. imports roughly tripled in size. (c) the share of US Trade in the economy roughly tripled in size. (d) U.S. Imports roughly tripled as compared to U.S. exports. (e) U.S. exports roughly tripled in size. Answer: C 3. The United States is less dependent on trade than most other countries because (a) the United States is a relatively large country. (b) the United States is a “Superpower.” (c) the military power of the United States makes it less dependent on anything. (d) the United States invests in many other countries. (e) many countries invest in the United States. Answer: A 4. Ancient theories of international economics from the 18th and 19th Centuries are: (a) not relevant to current policy analysis. (b) are only of moderate relevance in today’s modern international economy. (c) are highly relevant in today’s modern international economy. (d) are the only theories that actually relevant to modern international economy. (e) are not well understood by modern mathematically oriented theorists. Answer: C 5. An important insight of international trade theory is that when countries exchange goods and services one with the other it (a) is always beneficial to both countries. (b) is usually beneficial to both countries. (c) is typically beneficial only to the low wage trade partner country. (d) is typically harmful to the technologically lagging country. (e) tends to create unemployment in both countries. Answer: B 6. If there are large disparities in wage level