Название теста: Международная торговля(international trade) Предназначено для студентов специальности: Международные отношения, (3 курс 4 го), очное

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1 Название теста: Международная торговля(international trade) Предназначено для студентов специальности: Международные отношения, (3 курс 4 го), очное Текст вопроса 1 Which trade theory holds that nations can increase their economic well-being by specializing in the production of goods they produce more efficiently than anyone else? 2 Which theory holds that nations should produce those goods for which it has the greatest relative advantage? 3 Which of the following holds that a government can improve the economic well-being of a country by encouraging exports and discouraging imports without a reliance on previous metals? 4 In North, it takes 50 labor hours to produce cloth and 100 hours to produce grain. In South, it takes 200 labor hours to produce cloth and 200 hours to produce grain. Which of the following statements is true? 5 In country X, it takes 50 labor hours to produce cloth and 100 hours to produce grain. In country Y, it takes 200 labor hours to produce cloth and 200 hours to produce grain. At what price would X start to be willing to trade with Y? 6 Which of the following theories holds that countries will produce and export products that use large amounts of production factors that they have in abundance? 7 Vernon's international product life cycle theory: 8 A lower tariff on imported steel would most likely benefit 9 Which of the following factors influence trade? 10 If the price of the Japanese Yen declines considerably against the British Pound: 11 If a Japanese firm sold $10 billion of machinery in US and the US dollar declined against the Japanese currency: 12 Which of the following is not a reason to erect trade barriers? 13 Which of the following countries is not a member of OPEC? 14 A company of the US has excess products that it does not want to sell into the US market because it will bring down the domestic price and instead sells it at another country at below the cost of production. What is this called? 15 According to the principle of comparative advantage, countries that are similar should trade very little with each other: 16 Much of the trade of industrialized countries is two-way trade, which means that: 17 Constant returns to scale indicates that input use and total costs rise: 18 Scale economies suggest that output quantities increase at a larger proportion than total costs increase as additional inputs are used, so average cost per unit produced: 19 The actions and decisions of the individual firm result in:

2 20 Monopolistic competition means that: 21 In a market where each firm's product is somewhat different: 22 suggests that a number of small firms produce identical commodity products, take the price offered by the market, and believe that they cannot individually influence that price. 23 If a few large firms dominate an industry and control or influence the price at which their products are sold, there is: 24 Consider a type of product whose market structure is monopolistic competition. In the shift from no trade in this type of product to free trade: 25 The average cost of a firm producing a product in an area declines as the output of that firm's industry (all firms producing that product) in that area in that area increases. This is a description of the phenomenon of: 26 can arise if a concentration of an industry's firms in a geographical area attracts local suppliers of specialized services for that industry or a large pool of specialized labor for that industry. 27 The difference between imports and exports is referred to as net trade and has a positive value for a specific product if: 28 Intra-industry trade is more prevalent in: 29 If scale economies are modest: 30 National gains from trade can be attributed to all of the following except: 31 Doubling the distance between countries that are trading partners tends to: 32 If substantial scale economies exist over a large range of output, production of the product tends to be concentrated in a few large facilities in a few countries to take advantage of the scale economies. Those countries where the large production facilities are located tend to: 33 For a global oligopoly, established patterns of production and trade can persist even if new production locations become available that could be lower cost because: 34 In an oligopoly, if firms do not aggressively compete with each other on price, then: 35 The United States is a major exporter of 36 Autarky means that 37 The terms of trade are 38 A nation s consumption possibilities frontier is 39 The gains from trade are due primarily to the fact that 40 The source of gains from trade is 41 Mutually beneficial trade cannot occur

3 42 To maximize worldwide gains from trade, the country which should produce a good is the country that 43 Comparative advantage 44 Izodians can produce 8 units of food per day or 12 units of clothing per day. Valentians can produce 5 units of food per day or 10 units of clothing per day. Which of the following is true? 45 Which of the following is not an economic reason for international specialization? 46 When the world price of an internationally traded product is greater than a country s domestic equilibrium price 47 The world price is in equilibrium when 48 Producer surplus is the 49 Consumer surplus result when 50 With international trade 51 International trade 52 Trade restrictions in the real world 53 A tariff is 54 The difference between a specific tariff and an ad valorem tariff is that a specific tariff 55 Which of the following is not an effect of a specific import tariff 56 An import quota is a 57 To be effective, an import quota must 58 An effective import quota 59 The primary difference between an import tariff and an import quota is that 60 Which of the following is not a type of trade restriction? 61 The General Agreement on Tariffs and Trade (GATT) was established in 62 The World Trade Organization (WTO) 63 The most-favored nation clause of the World Trade Organization requires that each member must 64 Which of the following is not used as an argument for trade restrictions? 65 Regional trading bloc agreements 66 Rent seeking involves 67 Suppose Countries A and B use only labour as an input and produce only cloth and wheat. In A, a worker in a day could produce 2 units of cloth or 4 units of wheat. In B, a worker in a day could produce 3 units of cloth or 9 units of wheat. At present the countries do not trade. Which of the following statements is false?

4 68 Suppose Countries C and D use only labour as an input and produce only tables and tents. In A, a worker in a week could produce 4 tables or 2 tents. In B, a worker in a week could produce 6 tables. Initially the countries do not trade, and then trade opens up. Under which circumstances will country C export tables? 69 Suppose two countries E and F use many inputs. Country E exports tractors and imports televisions. Assuming there are no economies of scale, which of the following statements is true? 70 Which of the following statements is false? 71 Suppose a small country imposes a tariff on a good. Which of the following statements is false? 72 Suppose a large country imposes a tariff on a good. Which of the following statements is false? 73 Which of the following arguments for trade barriers offers potential benefits to consumers? 74 Which of the following statements is false? 75 According to the theory of comparative advantage, which of the following is not a reason why countries trade? 76 Which of the following statements would a mercantilist not agree with? 77 If all prices in one country (country A) are higher than all prices in another country (B) when compared at the wage rates that happen to prevail in the two countries, and if the countries share the same currency, then if the nominal wage rate in country B remains fixed 78 Specific tariffs are 79 Which of the following could explain why the terms of trade of developing countries might deteriorate over time 80 Which trade strategy have developing countries used to restrict imports of manufactured goods so that the domestic market is preserved for home producers? 81 The infant industry argument is that 82 The infant industry argument is that 83 To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries. This policy is called 84 To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries. This policy is called 85 Export-led growth tends to 86 Ad valorem tariffs are 87 The ʺEast Asian Miracleʺ is 88 The excess supply curve of a product we (H) import from foreign countries (F) increases as 89 The effective rate of protection measures 90 A redistribution of workers from low to high real wage countries will eventually result in

5 91 The concept terms of trade means 92 A country cannot produce a mix of products with a higher value than where 93 Tastes of individuals are represented by 94 Which of the following is not a possible cause of a country having a comparative advantage in a particular good? 95 The correct sequence of market structures from most to least competitive is 96 A firm that emerges as the only seller in an industry with economies of scale is a(n) 97 The profit maximizing rule MR = MC applies to 98 Constant returns to scale occur when a doubling of all inputs 99 If a good is imported into (large) country H from country F, then the imposition of a tariffin country H in the presence of the Metzler Paradox, 100 show how the economic well-being of a whole group depends on the whole group's consumption of products. 101 If a firm triples all its inputs and output triples as a result, then the firm 102 The term natural monopoly refers to 103 Suppose a competitive firm and a monopolist are both charging $5 for their respective outputs. One can infer that 104 If a good is imported into (small) country H from country F, then the imposition of atariff In country H 105 A country gains more from trade if: 106 refers to the price a country receives from foreign buyers for exported products relative to the price the country pays foreign sellers for imported products. 107 If a large country imposes a tariff, then 108 A specific tariff provides home producers more protection when 109 Better technology in one country results in: 110 says that a country exports products that use relatively abundant resources intensively and imports products that use relatively scarce resources intensively. 111 A higher ratio of labor to other factors than is present in other countries indicates that a country is relatively. 112 If a good is imported into (large) country H from country F, then the imposition of a tariff in country H. 113 Developing countries sometimes object that free trade will lead them to specialize in primary products. They view this as undesirable because 114 Developing countries stand to gain from international trade because 115 Which of the following is not one of the reasons that increased exports are thought to increase a country s GDP?: c

6 116 According to the Food and Agriculture Organization (FAO) of the United Nations, cotton farmers in West Africa are hurt by competition with US cotton farmers because 117 The existence of positive externalities due to the impossibility of full appropriability 118 In today s world markets, poor developing countries tend to rely primarily on exports of 119 The Ricardian model of comparative advantage lends support to the argument that 120 The Heckscher-Ohlin, factor-proportions model lends support to the argument that 121 Most developing countries oppose including labor standards in trade agreements because 122 Free trade and globalization is generally argued 123 If firms in an industry are generating knowledge that other firms can use without paying for it, this industry is characterized by ( 124 It is argued that high-tech industries typically generate new technologies but cannot fully appropriate the commercial benefits associated with their inventions or discoveries. If this is true then in order to maximize a country s real income, the government should 125 When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North South trade, such as U.S.-Mexico trade, 126 According to the theory of comparative advantage, a country will export a good only if 127 The difference between imports and exports is referred to as net trade and has a positive value for a specific product if: 128 According to the theory of comparative advantage, countries gain from trade because 129 If international trade takes place as a result of comparative advantage, it will cause which of the following effects in the participating countries? 130 Which of the following differs in its essential analytical framework? 131 The slope of the production function measures 132 If the world attained a perfect Heckscher-Ohlin model equilibrium with trade, then 133 International labor mobility 134 In a typical short-run production function, as labor 135 Using the production function model, the real wage is determined by 136 If initially wages are higher in Home than in Foreign, then a movement of workers from Foreign to Home will A 137 Which organization determines procedures for the settlement of international trade disputes? 138 The WTOʹs intervention against clean air standards 139 The World Trade Organization provides for all of the following except 140 Judging by the changes in the height of tariff rates in major trading countries, the world has been experiencing a great

7 141 The opportunity to exploit economies of scale is one of the gains to be made from removing tariffs and other trade distortions. These gains will be found by a decrease in 142 The efficiency case made for free trade is that as trade distortions such as tariffs are dismantled and removed 143 According to the Hecksher-Ohlin model 144 One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that is (are) identical in all countries. 145 The Hechscher-Ohlin model states that a country will have a comparative advantage in the good orservice whose production is relatively intensive in the with which the country is relativelyabundant.(a) 146 According to the Heckscher-Ohlin model, the source of comparative advantage is a country s 147 In the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade 148 In the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade will benefit the owners of 149 In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in 150 In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would