国际经济学Test Paper.docVIP

Multiple choice: Trade between two countries can benefit both countries if each country exports that good in which it has a comparative advantage. each country enjoys superior terms of trade. each country has a more elastic demand for the imported goods. each country has a more elastic supply for the supplied goods. Given the following information: Unit Labor Requirements Cloth Widgets Home 10 20 Foreign 60 30 Neither country has a comparative advantage. Home has a comparative advantage in cloth. Foreign has a comparative advantage in cloth. Home has a comparative advantage in widgets. In the 2-factor, 2 good Heckscher- Ohlin model, a change from autarky (no trade) to trade will tend to make the wages in both countries more similar. will equalize the wages in both countries. will tend to make the wages in both countries less similar. D. will tend to make wages equal to returns to capital. The Leontieff Paradox supported the validity of the Ricardian theory of comparative advantage. supported the validity of the Heckscher-Ohlin model. failed to support the validity of the Ricardian theory. failed to support the validity of the Heckscher-Ohlin model. Suppose that there are two factors, capital and land, and that the United States is relatively land endowed while the European Union is relatively capital-endowed. According to the Heckscher-Ohlin model, European landowners should support US-European free trade. European capitalists should support US-European free trade. all capitalists in both countries should support free trade. all landowners should support free trade. The following are all assumptions that must be accepted in order to apply the Heckscher-Ohlin Theory, except for one: countries differ in their endowments of factors of production. countries differ in their technologies. ther