“国际经济学（英）”课程模拟试卷(D卷)
课程名称International Economics课程号0020259考核方式考试
I. Explain the following terms (20 points. Each worth4 points)
1.Pattern of trade
2. Opportunity cost
3. Marginal rate of transformation
4. Purchasing-power parity (PPP) theory
5. Arbitrage
II. Multiple Choices (30 Points. Each is worth 2points.)
1．____________ are traded in a forward contract for standardized currency amounts and traded only on selected calendar dates.
A）foreign exchange futures
B）spot rate transactions
C）forward premium currencies
D）forward discount currencies
2．Which currencies are traded in the futures market?
A）the Japanese Yen and the British pound
B）the Japanese Yen, the British pound, the Australian dollar, the Canadian dollar, the Mexican peso, the Swiss franc and the euro
C）all foreign currencies and the US dollar
D）the British pound, the U.S. dollar, and the Japanese yen
3．A(n) _________________ MRS would result in a community indifference curve that is __________ from the origin.
A）increasing, convex
B）declining, convex
C）constant, concave
D）declining, concave
4. Assume in base year 1990, the index for the volume of exports is equal to 100, and we find that, for the 2004 fiscal year, the US price index for exports has fallen 6 percent, the price index for imports has risen by 9 percent, and the index for the volume of exports is 108 after 2004. What is the value of the U.S. income terms of trade?
A)93.1
B)89.7
C)88.6
D)63.4
5. If a US firm exports $7,000 of goods which are to be paid for within six months, using a double-entry bookkeeping system, what entries should be made in the US balance of payments?
A)Goods export – credit of $7,000; Capital outflow – debit of $7,000
B)Accounts Receivable – debit of $7,000; Inventory – credit of $7,000
C)Goods export – debit of $7,000; Capital outflow – credit of $7,000
D)Accounts Receivable – credit of $7,000; Inventory – debit of $7,000
6. If the price for a Big Mac in the US is $2.00 and the price for a Big Mac in the UK is ₤3, what is the absolute purchasing-power parity equilibrium exchange rate between the dollar and the Euro (using the dollar as the domestic currency)?
A).667
B)1.5
C).333
D）None of the above
7. If the rate of inflation is suddenly expected to be 8% higher than previously anticipated in the US than in the UK, the dollar should immediately depreciate by what percent with respect to the pound in order to keep prices equal in the US and the UK?
A)8%
B)10%
C)6%
D)9%
8．The most common forward rate is ____________.
A）one month
B）six months
C）three months
D）nine months
9. Why is a portfolio including both domestic and foreign securities likely to have a higher average yield than one only containing domestic securities?
A）Yields on foreign securities are more likely to be inversely related to yields on domestic securities
B）Yields on foreign securities are less likely to be inversely related to yields on domestic securities
C）Yields on foreign securities do not depend on economic conditions abroad, as do yields on domestic securities
D）A portfolio including both foreign and domestic securities is NOT likely to have a higher average yield than one containing only domestic securities.
10. Tariffs and quotas are used to restrict the flow of international trade and capital. These are examples of:
A)expenditure-changing policies
B)direct controls
C)expenditure-switching policies
D）indirect controls
11. When a(n) ___________________ condition is present, a disturbance from the equilibrium exchange rate gives rise to automatic forces that push the exchange rate back toward the equilibrium rate.
A）unstable foreign exchange market
B）Marshall-Lerner condition
C）J-curve effect
D）stable foreign exchange market
12．The continuous tendency of a domestic monopolist to maximize total profits by selling the commodity at a higher price in the domestic market than abroad is called ( )
A. Sporadic dumping B. Predatory dumping
C. Persistent dumping D. Export subsidies
13．Which of the following states that the equilibrium exchange rate is equal to the ratio of price levels in the two nations?
A)The relative theory of exchange rate determination
B)The absolute purchasing-power parity theory
C)The relative purchasing-power parity theory
D）The absolute theory of exchange rate determination
14．Which of the following would occur if labor productivity in the UK increased relative to that in the US, and before this increase the dollar was in an exchange rate equilibrium with the sterling?
A)The United States will now demand fewer imports
B)The US will now demand fewer pounds
C)The UK will supply more pounds to the US
D)None of the above
15. Which of the following is a type of internalandexternal imbalance?
A)Inflation and recession
B)Recession and deficit
C)Deficit and surplus
D）All of the above
III. Briefly expound your understanding of the following questions (three questions, total points are 30, each is worth 10 points)
1. (a) What is the reason for increasing opportunity costs?
(b) Why do the production frontiers of different nations have different shapes?
2. What dynamic benefits are the nations forming a customs union likely to receive?
3. (a) Explain what is the effect on the exchange rate of an increase in the nation’s money supply according to the monetary model.
(b) Do empirical tests support or reject the monetary and asset market or portfolio approaches?
Ⅳ. Calculation and give explanation according to a fig (one question, 20 points)
(See next page)
This figure illustrates the effects of an import tariff in alargenation. DXand SXare this nation’s domestic demand and supply curves of commodity X. With free trade, the world price of commodity X is Px=1. After levying 100% tariff on imports of commodity X, this large nation changes the world price.
Question: what does this figure illustrate? Offer as much information as possible you can learn from the figure.
1. (a) What are the different types of dumping?
(b) Why does dumping usually lead to trade restrictions?
2. What are some of the problems created by multinational corporations in the home country?
3. (a) What are the basic motives for international portfolio investment?
(b) What additional reasons are required to explain direct foreign investment?
4. (a) What is meant by economies of scale?
(b) How can economies of scale be the basis for international trade?
5. What are some of the problems created by multinational corporations in the home country?
6. What dynamic benefits are the nations forming a customs union likely to receive?
7. (a) What is the reason for increasing opportunity costs?
(b) Why do the production frontiers of different nations have different shapes?
8. What dynamic benefits are the nations forming a customs union likely to receive?
9. (a) Explain what is the effect on the exchange rate of an increase in the nation’s money supply according to the monetary model.
(b) Do empirical tests support or reject the monetary and asset market or portfolio approaches?
