国际经济学(外语)习题2.doc

PART I - INTERNATIONAL TRADE RELATIONS Chapter 2 - Why Nations Trade I. Objective Questions Answer the next 9 questions using figures in the table below. Production Costs per unit of Output Corn per bu. Cloth per yd. U.S. $ 2 $ 1 U.K. ￡ 4 ￡ 1 1. The opportunity cost of one yard of cloth in the U.S. is (a) 1 bu. corn. (b) 1/2 bu. corn. (c) 1/4 bu. corn (d) 4 bu. corn. 2. The opportunity cost of one yard of cloth in the U.K. is (a) 2 bu. corn. (b) 4 bu. corn. (c) 1/2 bu. corn. (d) 1/4 bu. corn. 3. The opportunity cost of one bu. of corn in the U.S. is (a) 4 yd. cloth. (b) 2 yd. cloth. (c) 1/4 yd. cloth. (d) 1/2 yd. cloth. 4. The opportunity cost of one bu. of corn in the U.K. is: (a) 4 yd. cloth. (b) 2 yd. cloth. (c) 1/4 yd. cloth. (d) 1/2 yd. cloth. 5. When trade opens the (a) U.S. exports corn and imports cloth. (b) U.S. exports cloth and imports corn. (c) U.K. exports corn and imports cloth. (d) U.K. exports both corn and cloth. 6. The limits to mutually beneficial trade dictate 1 bu. of corn will be worth between: (a) 4 and 1 yd. of cloth. (b) 4 and 2 yd. of cloth. (c) 1/2 and 1/4 yd. of cloth. (d) 2 and 1 yd. of cloth. 7. Which of the following is in the U.S. no trade region? (a) 1 bu. corn = 4 yd. cloth. (b) 1 bu. corn = 1 yd. cloth. (c) 1 bu. corn = 3 yd. cloth. (d) 1 bu. corn = 5 yd. cloth. 8. Which of the following is in the U.K. no trade region? (a) 1 bu. corn = 5 yd. cloth. (b) 1 bu. corn = 2 yd. cloth. (c) 1 bu. corn = 3 yd. cloth. (d) 1 bu. corn = 1 yd. cloth. 9. Which of the following exchange rates is sustainable? (a) $1 = ￡ 1.5. (b) $1 = ￡ 0.5. (c) $1 = ￡ 3.0. (d) $1 = ￡ 4.0. Questions 10-13 It takes country A 2 person-hours to produce a microchip and 4 person-hours to produce a yard of cotton. It takes country B 1 person-hour to produce a microchip or a yard of cotton. Labo