国际经济学基础课后习题重点答案

1、What were the mercantilists' views on trade? How were their views different from those of Adam Smith ? What is the relevance of all this today ?重商主义的观点是什么？它们与亚当斯密观点的不同之处？与今天有什么关系？ Answer:

①The mercantilists believed that a nation could gain in international trade only at expense of other nations. As a result ,they advocated restrictions on imports , incentives for exports , and strict government regulation of all economic activities .

②The mercantilists believed that one nation could gain only at the expense of other nations and advocated strict government control of all economic activity and trade;Adam believed that all nations would gain from free trade and strongly advocated a policy of laissez-faire.

③All of this is relevant today because many of the arguments made in favor of restricting international trade to protect domestic jobs are very similar to the mercantilists arguments made three or four centuries ago. That is why we can say that”mercantilists is alive and well in the twenty-first century”.Thus we have to be prepared to answer and demonstrate that these arguments are basically wrong.

2、What was the basis for and the pattern of trade according to Adam Smith ? How were gains from trade generated ? What policies did Smith advocate in international trade ? What did he think was the proper function of government in the economic life of the nation ? 根据亚当斯密的理论，其贸易模式的基础和模式是什么？贸易所得是怎样产生的？亚当主张在国际贸易中推行怎样的？他认为在国家的经济运行中应当扮演怎样的角色？ Answer:

The basis for trade: Absolute advantage.if one nation is more efficient than another nation in the production of one commodity, the nation has absolute advantage in that commodity.

The gain of trade: Both nations can gain by each specializing in the production of the commodity of its absolute advantage and exporting part of its output to the other nation for the commodity of its absolute disadvantage.

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Policy:Adam Smith believed that all nations would gain from free trade and strongly advocated free trade and a policy of laissez-faire,the policy of minimum government interference in or regulation of economic activity.

3、（1）In what way was Ricardo’s law of comparative advantage superior to Smith’s theory of absolute advantage? Ricardo's law of comparative advantage is superior to Smith's theory of absolute advantage in that it showed that even if a nation is less efficient than or has an absolute disadvantage in the production of all commodities wit respect to the other nations,there is still a basis for beneficial trade for all nation.

（2）how do gains from trade arise with comparative advantage？

the gains from trade arise from the increased production of all commodities that arises when each country specializes in the production of and exports the commodities of its comparative advantage and imports the other commodities

（3）How can a nation that is less efficient than another nation in the production of all commodities export anything to the second nation? the first nation should specialize in the production of and export th commodity in which its absolute disadvantage is smaller and import the commodity in which ist absolute disadvantage is greater.

104页 1—8题

1、（1）H-O theorem: the part of the H-O theory that postulates that a nation will export the commodity intensive in its relatively abundant and cheap factor and import the commodity intensive in its relatively scarce and expensive factor.

(2)Which force does Heckscher and Ohlin identify as the basic determinant of comparative advantage and trade?

H-O identify the relative difference in factor endowments among nations as the basis determinant of comparative advantage and international trade.

(3)In what way does the H-O theory represent an extension of the standard trade model present in the previous chapter?

(a)By explaining the basis of comparative advantage (classical economists,such as Ricardo had assumed it )

(b)By examining the effect of international trade on the earnings of factors of production.(which classical economists had left unanswered)

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2、104j页第二题？ 3、

(4)What is the relationship to the international mobility of factors of production?

With perfect mobility,labor would migrate from the low-wage nation to the high-wage nation until wages in the two nations became equal.similarly,capital would move from the low-interest to the high-interest nation until the rate of interest was equalized in the two nations.While trade operates on the demand for factors,factor mobility operates on the supply of factors.the result is completely equalization in the returns to homogeneous factors.

4、里昂惕夫之谜

（1）Leontief paradox:the empirical finding that U.S. Import substitutes were more K intensive than U.S. Exports.this is contrary to the H-O trade model,which predicts that ,as the most K-abundant nation,the United States should import L-intensive products and export K-intensive products.

（2）What are some possible explanations of the Paradox? P69-P71 对里昂惕夫之谜的各种解释

①Due to the high efficiency of American workers由于美国工人效率高所致 ②Due to the rich human capital of U.S. 由于美国人力资本丰富所致 ③Due to the natural resources of U.S. 由于美国自然资源所致 ④Due to the Factor intensity reversal由于生产要素密集型逆转所致 ⑤Due to the trade policies of U.S. 由于美国贸易所致 ⑥Due to the demand reversal由于需求逆转所致 (3)What is the status of the H-O theory today?

The H-O theory remains the centerpiece of modern trade theory for explaining international trade today and there are other forces that provide additional reasons and explanations for some international trade not explained by the basic H-O model.these other trade theories thus complement the basic H-O model in explaining the pattern of trade.

5、In what way can international trade with developing countries be said to have contributed to increased wage inequalities in the US during the past 20 years? (105页第五题）

International trade with developing economies,especially newly industrializing economies (NIEs),contributed in two ways to increased wage inequalities between skilled and unskilled workers in the United States during the past two decades.Directly,by

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reduction the demand for unskilled workers as a result of increased U.S. imports of labor-intensive manufactures and, indirectly,by speeding up the introduction of labor-saving innovations,which further reduced the U.S. demand for unskilled workers.International trade,however,was only a small cause of increased wage inequalities in the United States.The most important cause was technological increased wage inequalities in the United States.The most important cause was technological change.

6、（1）What is meant by economies of scale?规模经济即规模报酬递增

Economic of scale refer to the production situation where output grows proportionally more than the increase in inputs of factors of production.For example,output may more than double with a doubling of input.

（2）How can economies of scale be the basis for international trade? Even if two nations were identical inn every aspect,there is still a basis for mutually beneficial trade based on economies of scale.When each nation specializes in the production of one commodity,the combined total world output of both commodities will be greater than without specialization when economies of scale are present.With trade,each nation then shares in these gains.

(3)What is meant by te “new international economies of scale”?

the new international economies of scale refers to the increase in productivity resulting from firms purchasing parts and components from nations where they are made cheaper and better,and by establishing production facilities abroad.

7、(1)What is meant by product differentiation?

Product differentiation is the business change those basically the same products in some way to enable consumers to believe that these products exist differentiation so they have different preferences to these products.产品差异化是指企业以某种方式改变那些基本相同的产品，以使消费者相信这些产品存在差异而产生不同的偏好。 （2）How does inter-industry trade arise?

Comparative advantage seems to determine the pattern of inter-industry trade. While economies of scale in differentiated products give rise to intra-industry trade. （3）What are the benefits of intra-industry trade?

Intra-industry trade arises in order to take advantage of important economies of scale in production.That is ,international competition forces each firm or plant in industrial countries to produce only one,or at most a few,varieties and styles of the same product rather than many different varieties and styles.This is crucial in keeping unit costs low.With few varieties and styles,more specialized and faster machinery can be developed for a continuous operation and a longer production run.The nation then imports other varieties and styles from other nations.Intra-industry trade benefits

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consumers because of the wider range of choices(the grater variety of differentiated products)available at the lower prices made possible by economies of scale in production. 8、（1）How can international trade take place according to the technological gap model?

According to the technological gap model,a great deal of the trade among industrialized countries is based on the introduction of new products and new production processes.As the sole producer of these products,the innovating firm and nation have a temporary monopoly in these products.For example,as the most technologically advanced nation,the United States exports a large number of new high-technology products.As they acquire te new technology,however,foreign producers eventually conquer markets abroad,and even te U.S. Market for the product,because of their lower labor costs.Int meantime ,U.S. Producers may have introduced still newer products and production processes,and they may be able to export these products based on the new technological gap established.

(2)What criticisms are leveled against this model? (a)it does not explain the size of technological gaps

(b)it does not explore the reason that technological gaps arise in the first place or exactly how they are eliminated over time.

(3)What are the various stages in a product life cycle?

According to the product cycle model,a product goes through five stages: (a)the introduction of the product (b)expansion of production for export

(c)standardization and beginning of production abroad through imitation (d)foreign imitators underselling the nation in third markets

(e)foreigners underselling the innovating firms in their home market as well.

133页 1、5、8、10题

1、贸易小国的关税效应 5、（1）optimum tariff最优关税: the tariff that maximizes the net benefit resulting from improvement in the nation’s terms of trade against the negative effect resulting from reduction in the volume of trade.

（2）What is the relationship to changes in the nation’s terms of trade and volume of trade?贸易条件的改变与贸易量的关系是什么？

When a nation imposes an optimum tariff,the trade partner’s welfare declines because of the lower volume of trade and the deterioration in its terms of trade.the trade partner is likely to retaliate,and in the end both nations are likely to lose as a result of the reduction in the volume of trade.(最优关税与一国的贸易条件和贸易量有什么关系？）

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8、（1）what is the difference between a nominal and an effective tariff？名义关税与实际关税的区别是什么？

While the nominal tariff rate is important to consumers (because it indicates by how much the price of the final commodity increases as a result of the tariff),the effective tariff tare is important to producers(because it indicates how much protection is actually provided to the domestic processing of the import-competing commodity).

（2）how is the rate of effective protection measured?实际有效保护率是怎样计算的？

The rate of effective protection calculated on the domestic value added. Domestic value added equals the price of the final commodity minus the cost of the imported inputs going into the production of the commodity..

(3)Wha is the usefulness of the concept of effective protection?

(a)It’s the appropriate measure of the degree of protection actually provided to domestic producers .

(b)It plays a crucial role during trade negotiations,especially between developed and developing countries.

10、Suppose that a nation reduces import tariffs on raw materials and intermediate products but not on finished products.What effect will this have on the rate of effective protection in the nation?

The rate of effective protection will be higher than the nominal tariff rate and with the increasing difference of the nominal tariff between the finished products and the raw materials,the degree of effective protection to products is higher.

163页 1、5、7题

(1)1、What are the effects of an import quota?

见笔记

(2)how are the effects of an import quota similar to and different from the effects of an equivalent import tariff?进口配额效应与进口关税效应的联系与区别？ An import quota has the some consumption and production effects as an (equivalent)import tariff.If the government actions off import licenses t the highest bidder in a competitive market,the revenue effect also is the same.The adjustment to any shift i demand or supply occurs in the domestic price with an import quota and in the quantity of imports with a tariff.If import licenses are not auctioned off,they lead to monopoly profits and possible corruption.An import quota is in general more restrictive than an equivalent import tariff.

进口配额和进口关税的区别：

(a)with a given import quota,an increase in demand will result in a higher domestic price and greater domestic production than with an equivalent import tariff. On the other hand,with a given import tariff,an increase in demand will leave the domestic price and

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domestic production unchanged but will result in higher consumption and imports. (b)The quota involves the distribution of import licenses. If the government does not auction off these licenses in a competitive market,firms that receive them will reap monopoly profits.

(c)An import quota limits imports to the specified level with certainty,while the trade effect of an import tariff may be uncertain.

5、（1）Dumping: Dumping is the export of a commodity at below cost or at a lower price than sold domestically.

（2）the types of dumping倾销的类型

Dumping is classified as persistent（持续性/长期倾销）dumping,predatory（掠夺性倾销）dumping,and sporadic(短期倾销）.

（3）Why does dumping usually lead to trade restrictions?为什么倾销通常导致贸易？

Dumping usually leads to trade restrictions as nations try to protect domestic producers from \"unfair\" foreign competition,even when the dumping is persistent and sporadic.

7、（1）what is the infant-industry argument for protection?幼稚工业保护理论是什么？

Infant-industry argument: the argument that temporary trade protection is needed to set up an industry and to protect it during its infancy against competition from more established and efficient foreign firms.

（2）how must this argument be qualified?这种说法要如何才算合格呢？

Several important qualifications must be made with regard to the infant-industry argument for protection.First,this argument is more justified for developing nations than for industrial nations.

Second,it is usually difficult to identify which industry or potential industry qualifies for this treatment,and experience has shown that protection,once given,is difficult to remove.Third,and most important,what trade protection can do,an equivalent production subsidy to the infant industry can do better.

193页 1-6题

2、suppose that the autarky price of commodity X is $10 in Nation A,$8 in Nation B,and $6 in Nation C,and Nation A is too small to affect prices in Nation B or C by trading.If Nation A initially imposes a nondiscriminatory ad valorem tariff of 100percent on its imports of commodity X from Nations B

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and C, and A subsequently forms a customs union with B,will this customs union lead to any trade diversion?why?

when A forms a customs union with B,this would be a trade-creating customs union because it replaces domestic production of commodity X at P=$10 with tariff-free imports of commodity X from B at P=$8.

4、suppose that the autarky price of commodity X is $10 in Nation A,$8 in Nation B,and $6 in Nation C,and Nation A is too small to affect prices in Nation B or C by trading.If Nation A initially imposes a nondiscriminatory ad valorem tariff of 50 percent on its imports of commodity X from Nations B and C, and A subsequently forms a customs union with B,will this customs union lead to any trade diversion?why?

when A forms a customs union with B,this would be a trade-diverting customs union because it replaces lower-price imports of commodity X of $6(from the point of view of A as a whole) with higher priced impotrs of commodity X from B at$8.

Specifically,Nation A's importers do not import commodity X from Nation C because the tariff-inclusive price of commodity X from Nation C is $9 as compared with the no-tariff pice of $8 for imports of commodity X from B.However,since the government of Nation A collects the $3 tariff per unit on imports of commodity X from Nation C,the net effective price for imports of commodity X from Nation C is really $6 for Nation A as a whole.

6、What are the factors that determine whether a customs union that leads to both trade creation and trade diversion results in a net increase or decrease in the welfare of a member nation?

(a)the tariff level of the union member before forming the union custom. (b) the size of the custom union

(c)the supply and demand elasticity of the union member.

219页 第7题

With respect to immiserizing growth,explain (a)How it can take place in a developing country and

Immiserizing growth can take place if the supply curve of the factor used in the nation's export commodity increases so much as to cause such a large deteriorating in the nation's terms of trade (as the nation tries to export more of its commodity）that the nation reaches a lower indifference curve after growth than before growth.

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(b )Why it did not seem to have occurred in most developing countries over the past two decades.

Immiserizing growth occurred rarely in the real world because the deterioration in the nations terms of trade is more than neutralized by increase in the volume of the nation's export(so that the nation's terms of trade improve)

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