-
Table:
Demand and Supply of TVs in Australia
Price of TVs ($$)
500
400
300
200
100
Quantity Demanded
（
thousand
）
0
10
20
30
40
Quantity
Supplied
(thousand)
50
40
30
20
10
0
50
0
Assume the nation of
Australia is “small,” unable to influence world
pri
ce, Its
demand and supply
schedules for TVs are shown in Table. Using graph
paper,
plot the demand and supply
schedules on the same graph.
a
. Under free-trade
conditions, suppose Australia imports TVs at a
price of $$100
each.
(1)How many TVs will be produced,
consumed, and
(2)Calculate the dollar
value of Australian consumer’s surplus
and producer’s
surplus.
b
. To
protect its producers from foreign competition,
suppose the Australian
government
levies a specific tariff of $$100 on TV imported.
(1) Determine and show graphically the
effects of the tariff on the price of TVs in
Australia, the quantity of TVs supplied
by Australian producers, the quantity of
TVs demanded by Australian consumers,
and the volume of trade.
(2) Calculate
the effect on Australian c
onsumer’s
surplus and supplier’s surplus
due to
the tariff-induced increase in the price of TVs.
(3) Calculate the value of the tariff’s
revenue effects,redistribution effect and
protective effect and consumption
effect.
(4) What is the amount of
deadweight loss imposed on the Australian economy
by
the tariff?
Suppose that
$$80 of imported wool goes into the domestic
production of a suit.
suppose also that
the free trade price of
the
suit is $$100 but the nation impose a
10
percent nominal tariff on each imported
suit
.
a)
calculate the
effective rate of protection imposed on the suit.
b)
Discuss
the relationship between
the
rate
of effective protection
and
the
nominal
tariff rate on the suit.
c)
What
is
the
most
serious
shortcoming
of
the
concept
and
measure
of
effective protection?
Labor hours
to make:
1 gallon of Wine
1 pound of Cheese
In the United States
4
3
In France
1
2
(1)
What is the
relative price of cheese (the price of cheese in
terms of wine)
in France and in U.S. if
they do not engage in trade?
(2)
Assume the
United States and France trade only with each
other. What is
the advantage of each
country?
(3)
Once
trade between the United States and France opens,
what range can
we anticipate that the
international price of wine will be?
1. A rough measure of the degree of
economic interdependence of a nation is given
by:
（
）
a. the size of
the nations' population
b. the percentage of its
population to its GDP
c. he percentage
of a nation's imports and exports to its GDP
d. all of the above
2.
If the
nation's tastes for its import commodity
increases:
a.
the nation's offer curve rotates toward
the axis measuring its import commodity
b.
the partner's
offer curve rotates toward the axis measuring its
import commodity
c.
the partner's offer curve
rotates toward the axis measuring its export
commodity
d.
the nation's offer curve
rotates toward the axis measuring its export
commodity
3.
Nation 1's share of the gains from the
export of commodity X will be greater: (
)
a. the greater
is nation 1's demand for nation 2's exports
b. the closer Px/Py with trade settles
to nation 2's pretrade Px/Py
c. the
weaker is nation 2's demand for nation 1's exports
d. the closer Px/Py with
trade settles to nation 1's pretrade Px/Py
4.
When w/r falls, L/K (
)
a.
falls in the production of both
commodities
b.
can rise or
fall
c.
rises in
the production of both commodities
d.
is not affected
5.
If
the
terms
of
trade
of
a
nation
are
1.5
in
a
two-nation
world,
those
of
the
trade
partner
are: (
)
a.
3/4
b.
2/3
c.
3/2
d.
4/3
of
the
following
assumptions
of
the
Heckscher-Ohlin
theory,
when
relaxed,
require new trade
theories? (
)
a.
Economies of scale
b.
incomplete
specialization
c.
similar tastes in both nations
d.
the existence of
transportation costs
of
the following refers to the loss consumers in the
importing country suffer
based on their
reduction in the consumption of a good after a
tariff is imposed on that
good?
a. Production effect.
b. Tariff revenue.
c. Deadweight loss.
d. Consumer surplus.
of the
reasons that protectionists and government
officials may favor using a
quota
instead of a tariff is: (
)
a. Quotas generate more revenue for the
government than do tariffs.
b. A quota
ensures that the quantity of imports is strictly
limited.
c. Quotas create less market
distortions than do tariffs.
d. Quotas
give less power to politicians than do tariffs.
9.
The Leontief
paradox refers to the empirical finding that U.S.
（
）
a.
import substitutes are more K-intensive
than exports
b.
imports are more
K-intensive than exports
c.
exports are more L-intensive than
imports
d.
exports are more K-intensive than
import substitutes
10.
If
a
nation
exports
twice
as
much
of
a
differentiated
product
that
it
imports,
its
intra-industry (T) index
is equal to:
a.
1.00
b.
0.75
c.
0.50
d.
0.25
1
、
Arguments for
free trade are sometimes disregarded by
politicians because:
a. Maximizing domestic efficiency is
not considered important
b. Maximizing consumer welfare may not be a chief
priority
c. There exist
sound economic reasons for keeping
o
ne’s economy isolated fr
om
other economies
d. Economists tend to favor highly protected
domestic markets
2
、
The Heckscher-
Ohlin theory explains comparative advantage as the
result of
differences in
c
ountries’:
a.
Economies of large-scale production.
b. Relative abundance of various
resources
c. Relative costs of labor.
d. Research and
development.
3
、
If
tastes are identical between countries then
comparative advantage is
determined by:
a. supply conditions only.
b. demand conditions only.
c. supply and demand
conditions.
d.
can’t tell without more
information.
4
、
A tax of 20
cents per unit of imported cheese would be an
example of:
a. Compound
tariff
b. Effective tariff
c. Ad valorem tariff
d. Specific tariff
5
、
Free traders
maintain that an open economy is advantageous in
that it provides
all of the following
except:
a. Increased competition for
world producers
b. A wider
selection of products for consumers
c. The utilization of the most
efficient production methods
d. Relatively high wages levels for all
domestic workers
6
、
If a tariff and
import quota lead to equivalent increases in the
domestic price of
steel, then:
a. the quota results in
efficiency reductions but the tariff does not
b. the tariff results in efficiency
reductions but the quota does not
c.
they have different impacts on how much is
produced and consumed
d.
they have different impacts on how income is
distributed
7
、
Government can
confiscate the revenue effect of a quota if
a. quota licenses are given
to foreigners
b. quota
licenses are auctioned to the highest bidder
c. if quota licenses are
given to domestic firms
d.
both (a) and (c)
8
、
Those who argue in favor of import
protection generally give the impression
that such restricted trade will:
a. decrease the level of
national security
b. provide benefits
to some particular industry
c. provide benefits to the entire
nation
d. not yield welfare
losses for the nation
9
、
To
be considered a good candidate for an export
cartel, a commodity should:
a. be a manufactured good
b. be a primary product
c. have a high price elasticity of
supply
d. have a low price
elasticity of demand
10
、
The
implementation of a common market involves all of
the following except:
a.
elimination of trade restrictions among member
countries
b. a common tax
system and monetary union
c.
prohibition of restrictions on factor movements
d. a common tariff levied
in imports form nonmembers
1
。一个粗略的衡量一个国家经济的
相互依赖程度是由：（）
A.
该国的人口规模
< br>
B.
人口的百分比的
GDP
他率一个国家的进口和出口对
GDP
D.
所有上述
2
。如果中国的进口商品的口味增加：
A
国提供曲线旋转向轴测量其进口商品
B.
合作伙伴的提供曲线旋转向轴测量其进口商品
C.
合伙人提供曲线旋转向轴测量其出口商品
D.
国家的提供曲线旋转向轴测量其出口
商品
3
。国家
1
的
X
商品的出口收益份额会更大：
（）
A.
更大的是国家
1
的国家
2
的出口需求
B.
接近
PX / PY
贸易结算国家
2
的
Px /
Py pretrade
C.
较弱的是国家
< br>2
的国家
1
的出口需求
D.
接近
PX /
PY
贸易结算国家
1
的
Px / Py pretrade
4
。当
W /
R
落，
L /
K
（）
A.
落在两种商品的生产
B.
可以上升或下降
C.
上升的商品
D.
生产不受影响
5
。如果一
个国家的贸易条款
1.5
在一二世界的国家，贸易伙伴是：（）
A.
3
／
4 B.
2
／
3 C. 3 / 2 D. 4 / 3
6
。下面的赫克歇尔俄林理论，当放松的假设，需要新的贸易理论？（）
A.
规模经济
B
.
不完全专业化
C.
相似的口味在两国的存在运输成本
7
。下列是指在进口国的消费者遭受损失的基础上的一种很好的
消费减
少后，施加关税是好？
A.<
/p>
生产的影响。
B.
关税收入。
C.
无谓损失。
D.<
/p>
消费者剩余。
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