2020 国际贸易（英）(江西财经大学) 最新满分章节测试答案

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本课程起止时间为:2020-02-17到2020-07-01
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【作业】01 World Trade： an Overview 简答题

1、 问题:Over the past few decades, East Asian economies have increased their share of world GDP. Similarly, intra–East Asian trade—that is, trade among East Asian nations—has grown as a share of world trade. More than that, East Asian countries do an increasing share of their trade with each other. Explain why, using the gravity model.
评分规则: 【 As the share of world GDP that belongs to East Asian economies grows, then in every trade relationship that involves an East Asian economy, the size of the East Asian economy has grown. This makes the trade relationships with East Asian countries larger over time. The logic is similar to why the countries trade more with one another. Previously, they were quite small economies, meaning that their markets were too small to import a substantial amount. As they became wealthier and the consumption demands of their populace rose, they were each able to import more. Thus, while they previously had focused their exports to other rich nations, over time they became part of the rich nation club and thus were targets for one another’s exports. Again, using the gravity model, when South Korea and Taiwan were both small, the product of their GDPs was quite small, meaning that despite their proximity, there was little trade between them. Now that they have both grown considerably, their GDPs predict a considerable amount of trade.
】

2、 问题:Gravity model of world trade says that trade between any two countries is proportional to the product of their GDPs. Does this mean that if the GDP of every country in the world doubled, world trade would quadruple? Give your reasons.
评分规则: 【 No, if every country’s GDP were to double, world trade would not quadruple. Consider a simple example with only two countries: A and B. Let country A have a GDP of $6 trillion and B have a GDP of $4 trillion. Furthermore, the share of world spending on each country’s production is proportional to each country’s share of world GDP (stated differently, the exponents on GDP in Equation 2-2, a and b, are both equal to 1). Thus, our example is characterized by the table below:Now let us compute world trade flows in this example. Total world trade in this simple model is $2.4 + $2.4 = $4.8 trillion.What happens if we double GDP in both countries? Now GDP in country A is $12 trillion, and GDP in country B is $8 trillion. Total trade is now equal to $4.8 + $4.8 = $9.6 trillion. Looking at trade before and after the doubling of GDP, we see that total trade actually doubled, not quadrupled.
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【作业】02 Classical Trade Theory ch02-01作业

1、 问题:Home has 1,200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. a. Graph Home’s production possibility frontier. b. What is the opportunity cost of apples in terms of bananas? c. In the absence of trade, what would be the price of apples in terms of bananas? Why?
评分规则: 【 a.  The production possibility curve is a straight line that intercepts the apple axis at 400 (1,200/3) and the banana axis at 600 (1,200/2).
b.The opportunity cost of apples in terms of bananas is 3/2. It takes 3 units of labor to harvest an apple but only 2 units of labor to harvest a banana. If one forgoes harvesting an apple, this frees up 3 units of labor. These 3 units of labor could then be used to harvest 1.5 bananas.
c.Labor mobility ensures a common wage in each sector, and competition ensures the price of goods equals their cost of production. Thus, the relative price equals the relative costs, which equals the wage times the unit labor requirement for apples divided by the wage times the unit labor requirement for bananas. Because wages are equal across sectors, the price ratio equals the ratio of the unit labor requirement, which is 3 apples per 2 bananas.
】

【作业】02 Classical Trade Theory ch02-02作业

1、 问题:Home has 1,200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. There is now also another country, Foreign, with a labor force of 800. Foreign’s unit labor requirement in apple production is 5, while in banana production it is 1. a. Graph Foreign’s production possibility frontier. b. Construct the world relative supply curve.
评分规则: 【 a.  The production possibility curve is linear, with the intercept on the apple axis equal to 160 (800/5) and the intercept on the banana axis equal to 800 (800/1).
b. The world relative supply curve is constructed by determining the supply of apples relative to the supply of bananas at each relative price. The lowest relative price at which apples are harvested is 3 apples per 2 bananas. The relative supply curve is flat at this price. The maximum number of apples supplied at the price of 3/2 is 400 supplied by Home while, at this price, foreign harvests 800 bananas and no apples, giving a maximum relative supply at this price of 1/2. This relative supply holds for any price between 3/2 and 5. At the price of 5, both countries would harvest apples. The relative supply curve is again flat at 5. Thus, the relative supply curve is step shaped, flat at the price 3/2 from the relative supply of 0 to 1/2, vertical at the relative quantity 1/2 rising from 3/2 to 5, and then flat again from 1/2 to infinity.
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【作业】02 Classical Trade Theory ch02-03作业

1、 问题:Home has 1,200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. There is now also another country, Foreign, with a labor force of 800. Foreign’s unit labor requirement in apple production is 5, while in banana production it is 1. Now suppose world relative demand takes the following form: Demand for apples/demand for bananas = price of bananas/price of apples. a. Graph the relative demand curve along with the relative supply curve. b. What is the equilibrium relative price of apples? c. Describe the pattern of trade. d. Show that both Home and Foreign gain from trade.
评分规则: 【 a.  The relative demand curve includes the points (1/5, 5), (1/2, 2), (2/3, 3/2), (1, 1), (2, 1/2).
b.  The equilibrium relative price of apples is found at the intersection of the relative demand and relative supply curves. This is the point (1/2, 2), where the relative demand curve intersects the vertical section of the relative supply curve. Thus, the equilibrium relative price is 2.
c. Home produces only apples, Foreign produces only bananas, and each country trades some of its product for the product of the other country.
d. In the absence of trade, Home could gain 3 bananas by forgoing 2 apples, and Foreign could gain by 1 apple forgoing 5 bananas. Trade allows each country to trade 2 bananas for 1 apple. Home could then gain 4 bananas by forgoing 2 apples, while Foreign could gain 1 apple by forgoing only 2 bananas. Each country is better off with trade.
】

2、 问题:Suppose that instead of 1,200 workers, Home has 2,400. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. There is now also another country, Foreign, with a labor force of 800. Foreign’s unit labor requirement in apple production is 5, while in banana production it is 1. Now suppose world relative demand takes the following form: Demand for apples/demand for bananas = price of bananas/price of apples. Find the equilibrium relative price. What can you say about the efficiency of world production and the division of the gains from trade between Home and Foreign in this case?
评分规则: 【 The increase in the number of workers at Home shifts out the relative supply schedule such that the corner points are at (1, 3/2) and (1, 5) instead of (1/2, 3/2) and (1/2, 5). The intersection of the relative demand and relative supply curves is now in the lower horizontal section, at the point (2/3, 3/2). In this case, Foreign still gains from trade, but the opportunity cost of bananas in terms of apples for Home is the same whether or not there is trade, so Home neither gains nor loses from trade.
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【作业】03 Neoclassical trade Theory ch03-01作业

1、 问题:An economy can produce good 1 using labor and capital and good 2 using labor and land. The total supply of labor is 100 units. Given the supply of capital, the outputs of the two goods depend on labor input as follows:The marginal
product of labor curves corresponding to the production functions are as follows:a. Suppose that the price of good 2 relative to that of good 1 is 2. Determine graphically the wage rate and the allocation of labor between the two sectors.b. Using the graph drawn, determine the output of each sector. Then confirm graphically that the slope of the production possibility frontier at that point equals the relative price.c. Find the effects of the price change from 2 to 1.3 on the income of the specific factors in sectors 1 and 2.
评分规则: 【 a. For
simplicity, define P1 = 1 and P2 = 2Looking at the diagram above, it appears that this occurs at a wage rate of 10 and a labor supply of 30 workers in Sector 1 (70 workers in Sector 2).
b. Looking at the table, we see that these labor allocations will produce 48.6 units of good 1 and 86.7 units of good 2.At this production point (Q1 = 48.6, Q2 = 86.7), the slope of the PPF must be equal to −P1/P2, which is −½.
c. The expansion of Sector 1 increases the income of the factor specific to Sector 1 (capital). The contraction of Sector 2 decreases the income of the factor specific to Sector 2 (land).
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【作业】03 Neoclassical trade Theory ch03-02作业

1、 问题:Go back
to the numerical example with no factor substitution that leads to the
production possibility frontier in the
following Figure.a. What is the range for the relative price of cloth such that the economy produces both cloth and food? Which good is produced if the relative price is outside of this range?      b. Write down the unit cost of producing one yard of cloth and one calorie of food as a function of the price of one machine-hour, r, and one work-hour, w. In a competitive market, those costs will be equal to the prices of cloth and food. Solve for the factor prices r and w. c. What happens to those factor prices when the price of cloth rises?  Why? 
评分规则: 【 a. The opportunity cost of cloth is given by the slopes of the two components of the production possibilities frontier above, 2/3 and 2. As long as the relative price of cloth lies between 2/3 and 2 units of food, the economy will produce both goods. If the price of cloth falls below 2/3, then the economy should completely specialize in food production (too low a compensation for producing cloth). If the price of cloth rises above 2, complete specialization in cloth will occur (too low a compensation for producing food).

c. Looking at the two expressions in part (b), we see that an increase in the price of cloth will cause the rental rate of capital to fall and the wage rate to laborers to rise. This makes sense, as cloth is a labor-intensive good. An increase in its price will lead to greater production of cloth and an increase in demand for the factor it uses intensively—labor.
】

【作业】04 The Standard Trade Model ch04 作业

1、 问题:Assume that Norway and Sweden trade with each other, with Norway exporting fish to Sweden, and Sweden exporting Volvos (automobiles) to Norway. Illustrate the gains from trade between the two countries using the standard trade model, assuming first that tastes for the goods are the same in both countries, but that the production possibility frontiers differ: Norway has a long coast that borders on the north Atlantic, making it relatively more productive in fishing. Sweden has a greater endowment of capital, making it relatively more productive in automobiles.
评分规则: 【 Note how welfare in both countries increases as Norway move from production patterns governed by domestic prices (dashed line) to production patterns governed by world prices (straight line).
Note how welfare in both countries increases as Sweden move from production patterns governed by domestic prices (dashed line) to production patterns governed by world prices (straight line).
】

2、 问题:Assume that Norway and Sweden trade with each other, with Norway exporting fish to Sweden, and Sweden exporting Volvos (automobiles) to Norway. Now, due to overfishing, Norway becomes unable to catch the quantity of fish that it could in previous years. This change causes both a reduction in the potential quantity of fish that can be produced in Norway and an increase in the relative world price for fish, Pf>Pa. a. Show how the overfishing problem can result in a decline in welfare for Norway. b. Also show how it is possible that the overfishing problem could result in an increase in welfare for Norway.
评分规则: 【 In panel a, the reduction of Norway’s production possibilities away from fish cause the production of fish relative to automobiles to fall. Thus, despite the higher relative price of fish exports, Norway moves down to a lower indifference curve representing a drop in welfare.
In panel b, the increase in the relative price of fish shifts causes Norway’s relative production of fish to rise (despite the reduction in fish productivity). Thus, the increase in the relative price of fish exports allows Norway to move to a higher indifference curve and higher welfare.
】

3、 问题:In some economies relative supply may be unresponsive to changes in prices. For example, if factors of production were completely immobile between sectors, the production possibility frontier would be right-angled, and output of the two goods would not depend on their relative prices. Is it still true in this case that a rise in the terms of trade increases welfare? Analyze graphically.
评分规则: 【 An increase in the terms of trade increases welfare when the PPF is right-angled. The production point is the corner of the PPF. The consumption point is the tangency of the relative price line and the highest indifference curve. An improvement in the terms of trade rotates the relative price line about its intercept with the PPF rectangle (because there is no substitution of immobile factors, the production point—point 3— stays fixed). The economy can then reach a higher indifference curve. Intuitively, although there is no supply response, the economy receives more for the exports it supplies and pays less for the imports it purchases.
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【作业】05 New Trade Theory and Frontier of Trade Theory ch05-01 作业

1、 问题:For each of the following examples, explain whether it is a case of external or internal economies of scale: a. Most musical wind instruments in the United States are produced by more than a dozen factories in Elkhart, Indiana. b. All Hondas sold in the United States are either imported or produced in Marysville, Ohio. c. All airframes for Airbus, Europe’s only producer of large aircraft, are assembled in Toulouse, France. d. Hartford, Connecticut, is the insurance capital of the northeastern United States.
评分规则: 【 Cases a and d represent external economies of scale as industry production is concentrated in a just a few locations. The benefits of geographical clustering include a greater variety of specialized services to support industry operations, access to a larger pool of specialized labor, and thicker input markets. Cases b and c represent internal economies of scale because a single firm/plant is producing the output for the whole industry. As the output of a single firm increases, average costs will fall. This can lead to imperfect competition as it supports a limited number of firms in an industry.
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2、 问题:Evaluate the relative importance of economies of scale and comparative advantage in causing the following: a. Most of the world’s aluminum is smelted in Norway or Canada. b. Half of the world’s large jet aircraft are assembled in Seattle. c. Most semiconductors are manufactured in either the United States or Japan. d. Most Scotch whiskey comes from Scotland. e. Much of the world’s best wine comes from France.
评分规则: 【 a. The relatively few locations for production suggest external economies of scale in production. If these operations are large, there may also be large internal economies of scale in production.
b. Because economies of scale are significant in airplane production, it tends to be done by a small number of (imperfectly competitive) firms at a limited number of locations. One such location is Seattle, where Boeing produces airplanes.
c. Because external economies of scale are significant in semiconductor production, semiconductor industries tend to be concentrated in certain geographic locations. If, for some historical reason, a semiconductor is established in a specific location, the export of semiconductors by that country is due to economies of scale and not comparative advantage.
d. “True” scotch whiskey can only come from Scotland. The production of scotch whiskey requires a technique known to skilled distillers who are concentrated in the region. This labor market pooling suggests external economies of scale. Also, soil and climactic conditions are favorable for grains used in local scotch production. This reflects comparative advantage.
e. France has a particular blend of climactic conditions and land that is difficult to reproduce elsewhere. This generates a comparative advantage in wine production.
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【作业】05 New Trade Theory and Frontier of Trade Theory ch05-02 作业

1、 问题:Suppose home and foreign countries were to integrate their automobile market with a third country. Find the number of firms, the output per firm, and the price per automobile in the new integrated market after trade. Average cost can be written as AC = (nF/S) + c and price can be written as P = c + (1/bn), where n is the number of firms, F is the fixed cost, S is the market size, c is the marginal cost, and b is a constant. The values are given as follows: F = 750,000,000, c = 5,000, b = 1/30,000. SHome = 900,000, SForeign = 1,600,000, SCountry 3 = 3,750,000. (Notes: To solve this problem, we need to first find the equilibrium number of firms in the three country integrated market by setting average cost equal to price across all markets.)
评分规则: 【 n = 15.8. There will only be 15 firms that enter this market. Q = S/n = 6,250,000/15 = 416,667. P = c + (1/bn) = 5,000 + 30,000/15 = 7000.
】

2、 问题:Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. Because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically,  where n represents the number of firms in a market. Assume that the initial size of the U.S. and the European automobile markets are 300 million and 533 million people, respectively.a. Calculate the equilibrium number of firms in the U.S. and European automobile markets without trade. b. What is the equilibrium price of automobiles in the United States and Europe if the automobile industry is closed to foreign trade? c. Now suppose that the United States decides on free trade in automobiles with Europe. The trade agreement with the Europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the United States. Howmany automobile firms will there be in the United States and Europe combined? What will be the new equilibrium price of automobiles?
评分规则: 【 a. nUS=3    nEU=4b. PUS=17050    PEU=17037.5c. S=833000000    n=5    P=17030
】

【作业】07 The Instruments of Trade Policy ch07-01 课堂作业

1、 问题:Home’s demand curve for wheat is D = 100 – 20P. Its supply curve is S = 20 + 20P.Foreign’s demand curve D = 80 – 20P and a supply curve S = 40 + 20P.a. Derive and graph Home’s import demand schedule. What would the price of wheat be in the absence of trade?b. Derive and graph Foreign’s export supply curve and find the price of wheat that would prevail in Foreign in the absence of trade. c. Now allow Foreign and Home to trade with each other, at zero transportation cost. Find and graph the equilibrium under free trade. What is the world price? What is the volume of trade?
评分规则: 【 a.The import demand equation, MD, is found by subtracting the Home supply equation from the Home demand equation. This results in MD = 80 − 40 × P. Without trade, domestic prices and quantities adjust such that import demand is 0. Thus, the price in the absence of trade is 2.
b. Foreign’s export supply curve, XS, is XS = −40 + 40 × P. In the absence of trade, the price is 1.
c. When trade occurs, export supply is equal to import demand, XS = MD. Thus, using the equations from Problems 1 and 2a, P = 1.50, and the volume of trade is 20.
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2、 问题:What would be the effective rate of protection on bicycles in China if China places a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on bike components, which together have a world price of $100?
评分规则: 【 Vw = $200 − $100 = $100. With a 50% tariff on bicycles (and a 0% tariff on components), Vt = ($200 × 1.5) − $100 = $300 − $100 = $200. Therefore, the ERP = (200 − 100)/100 = 100%.
】

【作业】07 The Instruments of Trade Policy ch07-02 课堂作业

1、 问题:Home’s demand curve for wheat is D = 100 – 20P. Its supply curve is S = 20 + 20P.Now add Foreign, which has a demand curve D = 80 – 20P and a supply curve S = 40 + 20P. Home imposes a specific tariff of 0.5 on wheat imports. a.Determine the effect of the tariff on the welfare of each of the following groups: (1) Home import-competing producers; (2) Home consumers; (3) the Home government. b. Show graphically and calculate the terms of trade gain, the efficiency loss, and the total effect on welfare of the tariff.
评分规则: 【 a. Consumer surplus change: -(a +  b +  c +  d) = −16.875. Producer surplus change: a = 13.125. Government revenue change: c +e = 5.
b. Efficiency losses=e-(b+d)=1.25  e=2.5.
】

2、 问题:Home’s demand curve for wheat is D = 100 – 20P. Its supply curve is S = 20 + 20P.Now add Foreign, which has a demand curve D = 80 – 20P and a supply curve S = 40 + 20P. Starting from free trade, assume that Foreign offers exporters a subsidy of 0.5 per unit. Calculate the effects on the price in Foreign country and on its welfare, both of individual groups and of the economy as a whole.
评分规则: 【 with a Foreign subsidy of 0.5 per unit, becomes XS = −40 + 40(1 + 0.5) × P. The equilibrium world price is 1.2, and the internal Foreign price is 1.8. government must provide (1.8 − 1.2) × 32 = 19.2 units of output to support the subsidy. Foreign producer surplus rises due to the subsidy by the amount of 15.3 units of output. Foreign consumer surplus falls due to the higher price by 7.5 units of the good. Thus, the net loss to Foreign due to the subsidy is 7.5 + 19.2 − 15.3 = 11.4 units of output.
】

【作业】08 The political Economy of Trade Policy ch08 课堂作业

1、 问题:A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good isS = 20 + 10P. The demand curve is D = 400 – 5P. In addition, each unit of production yields a marginal social benefit of 10. a. Calculate the total effect of a production subsidy of 5 per unit. b. What would the optimal production subsidy be?
评分规则: 【 a. A production subsidy would cause domestic supply to rise by S = 20 + 10(10 + 5) = 170, an increase of 50 units as with the tariff. However, the domestic price will not change in this country, so consumers do not lose any welfare with this subsidy. Rather, the only efficiency loss comes from production distortion costs, the leftmost triangle in the diagram above. The net loss of the subsidy is ½(550) = 62.5. However, the increase in domestic production caused social welfare to rise by 50 10 = 500, leading to a net welfare gain of 500 – 62.5 = 437.5.
b. The optimal subsidy would be for producers to fully internalize the externality by raising the subsidy to 10 per unit. Supply would then rise to S = 20 + 10(10 + 10) = 220. The production distortion would now be ½(10100) = 500, but the total social benefit from increasing production by 100 units would be 100 10 = 1000. The net welfare gain would be 1,000 – 500 = 500.
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2、 问题:Upon Poland’s entering the European Union, suppose it is discovered that the cost of automobile production in Poland is €20,000 while it is €30,000 in Germany. Suppose the EU, which has a customs union, has an X percent tariff on automobiles and the costs of production are equal to Y (valued in euros) in Japan. Comment on whether the addition of Poland to the European Union would result in trade creation or trade diversion under the following scenarios: a. X = 50%, and Y = €18,000 b. X = 100%, and Y = € 18,000 c. X = 100%, and Y = € 12,000
评分规则: 【 a.   This would lead to trade diversion because the lower-cost Japanese cars with an import value of €27,000 (but real costs of €18,000) would be replaced by Polish cars with a real cost of production equal to €20,000. b.  Before the addition of Poland to the EU, Japanese cars were not imported because their import price was €36,000. Thus, Poland’s addition to the EU would lead to trade creation because German cars that cost €30,000 to produce would be replaced by Polish cars that cost only €20,000. c.  This would lead to trade diversion because the lower-cost Japanese cars with an import value of €24,000 (but real costs of €12,000) would be replaced by Polish cars with a real cost of production equal to €20,000.
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【作业】09 Foreign Trade policy in the developed and developing countries ch09 课堂作业

1、 问题:•A country currently imports automobiles at $8,000 each. Its government believes that, given time, domestic producers could manufacture autos for only $6,000 but that there would be an initial shakedown period during which autos would cost $10,000 to produce domestically. •a. Suppose that each firm that tries to produce autos must go through the shakedown period of high costs on its own. Under what circumstances would the existence of the initial high costs justify infant industry protection? •b. Now suppose, on the contrary, that once one firm has borne the costs of learning to produce autos at $6,000 each, other firms can imitate it and do the same. Explain how this can prevent development of a domestic industry and how infant industry protection can help.
评分规则: 【 •a.  The initial high costs of production would justify infant industry protection if the costs to the society during the period of protection were less than the future stream of benefits from a mature, low-cost industry.
b. 
An individual firm does not have an incentive to bear development costs
itself for an entire industry when these benefits will accrue to other
firms. The first firm will not factor in how its investment benefits
other firms, yielding an inefficiently low level of investment relative
to the social optimum. There is a stronger case for infant industry
protection in this instance because of the existence of market failure
in the form of the appropriability of technology.
】

01 World Trade： an Overview

1、 问题:Trade includes_and_, contribute much to economic globalization, especially to world economic growth.
选项：
A:export,investiment.
B:import,investiment.
C:export,import.
D:investiment,consumption.
答案: 【export,import.】

2、 问题:In Nov. 2018, Chinese government started to have China International Import Expo,______.
选项：
A:which is harmful for trade liberalization.
B:which is the first expo on the world that aims to encourage import.
C:which will dramaticlly weaken the competition of domestic market.
D:which will deter to economic globalization.
答案: 【which is the first expo on the world that aims to encourage import.】

3、 问题:Nowadays members of WTO also pay more attention on service trade compared with before. Because_____.
选项：
A:service trade has become more important than merchandise trade.
B:the issues of service trade usually combined with investment,which is important for world economic growth.
C:service trade is more competitive than other kinds of trade.
D:advanced countries has stronger competency in commercial service trade.
答案: 【the issues of service trade usually combined with investment,which is important for world economic growth.】

4、 问题:Developing countries are becoming more important in world trade,__.
选项：
A:because the share of developing countries in world merchandise exports has increased obviously.
B:and developing economies exported less and less in past years.
C:merchandise trade between developing economies has decreased in the past decade.
D:because developing countries tend to cooperate with big economics.
答案: 【because the share of developing countries in world merchandise exports has increased obviously.】

5、 问题:Why the three European Giants, Germany, U.K. and France usually have closer trade relationship with USA?
选项：
A:Because of the economic size.