电影黑洞
ECON 5319 -The Global Economy
Quiz #1
1. The index of openness for a nation that had $600 million in exports, $400 million in imports, and GDP of $2,000 million would be
0.1
A)
B)
0.2
C) 0.5
-0.1
D)
2. Over the last fifty years, trade has grown
A) slower than during the first 50 years of the twentieth century.
B) faster than during the first 50 years of the twentieth century.
C) slower than GDP.
D) faster than GDP.
E) Both B and D.
3. Economists overwhelmingly support more open markets becau trade
A) creates jobs.
B) directly benefits everyone in the country.
C) increas the profit margins of firms.
D) leads to a better allocation of resources inside countries.
E) All of the above.
4. In most high-income countries, the most highly protected goods from international trade include
A) tho goods produced using highly nsitive technology.
B) cars and aircraft.
C) food and textiles.
software.
D)
E) military ammunitions.
5. Which of the following is an example of an institution who primary concern is global stability?
A) NAFTA (North American Free Trade Agreement)
B) OPEC (Oil Producing and Exporting Countries)
C) IMF (International Monetary Fund)
泡菜拌饭D) Mekong River Commission
E) Asian Development Bank
6. The international organization that rves as a forum for trade discussions and the development of trade rules is called
A) the WTO.
B) the World Bank.
C) the IMF.
Woods.
Bretton
D)
E) the United Nations.
7. One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would
communism.
A)
contain
B) help countries avoid the mistakes of the 1920s and 1930s.
C) provide a collective defen curity for Western Europe and North America.
D) ensure that world prices were not rising too rapidly.
E) create a single currency in Western Europe.
8. From the late 1940s until the creation of the WTO, the organization that was primarily responsible for conducting rounds of trade negotiations was the
Bank.
A)
World
IMF.
B)
ITO.
C)
D) United Nations.
E) GATT.
9. When the United States gives MFN status to China, it means that
A) China is treated better than other U.S. trading partners.
B) China is treated the same as other U.S. trading partners.
C) China is treated wor than other U.S. trading partners.
印度哲学D) China is better than all the nations in the WTO.
E) China is legally bound to reciprocate.
10. One reason markets may fail to provide the optimal quantity of public goods is the problem of
A) determining what the public wants.
nontariff
barriers.
B)
nondiscrimination.
C)
D) free riders.
E) economic integration.
11. IMF conditionality refers to the
A) technical assistance the IMF gives.
B) minimum size of national debt that a country must have before the IMF gets involved.
C) minimum-sized loan the IMF will make.
D) maximum-sized loan the IMF will make.
E) changes a country must make in order to receive IMF financial assistance.
12. Which of the following is NOT a criticism of international institutions such as the IMF, the World Bank, or the WTO?
A) They lack openness in their decision-making process.
B) They violate national sovereignty by imposing unwanted domestic policies.
C) They fail to understand the effects of their policies on the vulnerable.
D) Their decision making is biad in favor of underdeveloped nations and against the interests
of nations already industrialized.
E) They ignore potentially large adjustment costs for developing nations of implementing their
policies.
铅笔盒英语怎么读U the data in the table below to answer the following question(s):
Table 1
Output per Hour Worked
13. Bad on Table 1, the opportunity cost of a pair of shoes in the United States is
computers.
寄宿制小学three
A)
B) two computers.
C) one computer.
D) one-half computer.
E) None of the above.
14. Bad on Table 1, the pre-trade relative price of a computer in Mexico is
A) three pairs of shoes.
B) one pair of shoes.
C) one-half pair of shoes.
D) one-third pair of shoes.
E) None of the above.
15. Bad on Table 1, if the world price of computers is four pairs of shoes, then the optimal strategy for each country would be
A) to specialize in shoes.
B) to specialize in computers.
C) for Mexico to specialize in shoes, and the United States in computers.
D) for the United States to specialize in shoes, and Mexico in computers.
E) None of the above.
16. The economic philosophy that favors strict limits on imports and strong support for exports is called
A) zero sum.
autarky.
B)
C) mercantilism.
D) comparative advantage.洗澡游戏
advantage.
E)
absolute
17. If the world price for a good is above a nation's pre-trade equilibrium price, then the nation
A) will export the good.
B) will import the good.
小熊猫吃竹子
C) will neither export nor import the good.
D) cannot gain from trade.
E) Both C and D.
18. Economic restructuring that takes place as a result of opening to trade with other countries
A) contradicts the idea of gains from trade.
B) caus some trading activity to be zero sum.
C) worns the nation's allocation of resources.
D) improves the nation's allocation of resources.
E) is a highly unlikely event.
19. A country posss a comparative advantage in the production of a product if
A) the opportunity cost, in terms of the amount of other products that it gives up to produce this
product, is lower than it is for its trading partners.
B) it posss an absolute advantage in the production of this good compared to its trading
partners.
C) it is able to produce less of this good per worker than its trading partners.
D) it can produce more of this good per hour than its trading partners.
20. Suppo Paraguay can produce 12 wheat or 3 corn. Suppo Bolivia can produce 4 wheat or 2 corn. Suppo opportunity costs are constant. Given the production possibilities,
A) Paraguay has a comparative advantage in wheat.
B) Paraguay has a comparative advantage in corn.
C) Paraguay has a comparative advantage in both goods.
D) Paraguay has an absolute advantage in neither good.
21. A production possibilities curve that is a straight line reprents the ca of
A) constant costs.
B) increasing costs.
C) decreasing costs.
D) constant opportunity costs but increasing real costs.
E) constant opportunity costs but decreasing real costs.
U the table below to answer the following question(s).
Suppo that all goods are made with two factors labor and capital. The table below shows the total endowments of each factor in the United States and Canada.
Table 2
Endowment of Labor and Capital
22. Bad on Table 2, relative to the United States, Canada is
A) labor abundant.
地球位置B) labor scarce.
C) capital scarce.
D) None of the above.
E) Not enough information to tell.
23. Bad on Table 2, according to the Stolper-Samuelson Theorem, the income distribution effects of free trade in the United States are likely to favor
capital.
A)
B) labor.
C) either capital or labor, depending on U.S. productivity.
D) neither capital nor labor.
E) Not enough information to tell.
24. Bad on Table 2, according to the Heckscher-Ohlin Theorem, U.S. exports should be goods that
A) intensively u labor input.
B) intensively u capital input.
C) u capital and labor in about equal proportions.
D) u either labor or capital input, depending on the good.
E) Not enough information to tell.
25. If the price of a good ris, then the effect on the income of the factors that are ud intensively in its production will be
A) to rai income by an absolute amount that is less than the ri in prices.
B) to rai income by an absolute amount that is more than the ri in prices.
C) to rai income by a smaller percentage than the ri in prices.
D) to rai income by a greater percentage than the ri in prices.
E) to cau income to fall.
26. Tijuana, Mexico is across the border from San Diego, California. It has become a world-leading producer and exporter of television ts and computer monitors, which it asmbles in modern factories owned by multinational consumer electronics firms such as Sony. Initially, the electronics were produced in the industrialized countries of their parent companies, and after veral years, the production moved to Tiajuana This is an example of
A) the product cycle.
B) intraindustry trade.
C) the specific factors model.
D) the magnification effect.
E) None of the above.
27. Wage inequality has been on the ri in virtually all high-income industrial economies since the 1970s. The caus are probably numerous, but the leading explanation for the greatest share of the increa in inequality is
A) the growth of trade with developing countries.
B) the growth of trade with other high income industrial countries.
C) technological change which incread the relative demand for skilled workers.
D) technological change which incread the relative demand for unskilled workers.
E) technological change which decread the relative demand for skilled workers.
