北京师范大学珠海分校
20 - 20 学年 第
开课单位：
国际商学部
学期 期末考试（样卷 A）
课程名称：
任课教师：
考试类型：闭卷
国际商业基础
考试时间：
90
分钟
学院___________ 姓名___________ 学号______________ 班级____________
题号
一
二
三
四
五
六
七
八
总分
得分
阅卷人
试卷说明：（本试卷共 6 页，满分 100 分）
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PART I: MULTIPLE CHOICE (30*2=60 Marks)
1.Unlike the mercantilists, Adam Smith maintained that:
a. Trade benefits one nation only at the expense of another nation
b. Government control of trade leads to maximum economic welfare
c. All nations can gain from free international trade
d. The world's output of goods must remain constant over time
2.According to the principle of comparative advantage, specialization and trade increase a nation's total output since:
a. Resources are directed to their highest productivity
b. The output of the nation's trading partner declines
c. The nation can produce outside of its production possibilities curve
d. The problem of unemployment is eliminated
3.If a production possibilities curve is bowed out (i.e., concave) in appearance, production occurs under conditions of:
a. Constant opportunity costs
b. Increasing opportunity costs
c. Decreasing opportunity costs
d. Zero opportunity costs
4.If Hong Kong and Taiwan had identical labor costs but were subject to increasing costs of production:
a. Trade would depend on differences in demand conditions
b. Trade would depend on economies of large-scale production
c. Trade would depend on the use of different currencies
d. There would be no basis for gainful trade
5.If Canada experiences increasing opportunity costs, its supply schedule of steel will be:
a. Downward-sloping
b. Upward-sloping
c. Horizontal
d. Vertical
6.Which of the following suggests that a nation will export the commodity in the production of which a great deal of its
relatively abundant and cheap factor is used?
a. The Linder theory
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b. The product life cycle theory
c. The MacDougall theory
d. The Heckscher-Ohlin theory
7.Assume that Country A, in the absence of trade, finds itself relatively abundant in labor and relatively scarce in land.
The factor endowment theory reasons that with free trade, the internal distribution of national income in Country
A will change in favor of:
a. Labor
b. Land
c. Both labor and land
d. Neither labor nor land
8.The Leontief paradox:
a. Was applied to the product life cycle theory
b. Suggested that the U.S. exports labor-intensive goods
c. Found that national income differences underlie world trade patterns
d. Implied that diseconomies of scale occur at low output levels
9.Linder's theory of overlapping demand provides an explanation of:
a. Product life cycle theory
b. Factor endowment model
c. Economies of large-scale production
d. Intraindustry trade
10.In explaining international trade, the product life cycle theory focuses on
a. Tastes and preferences
b. The role of technological innovation
c. Per-capita income levels of nations
d. Both b and c.
11.The imposition of tariffs on imports results in deadweight welfare losses for the home economy. These losses consist
of the:
a. Protective effect plus consumption effect
b. Redistribution effect plus revenue effect
c. Revenue effect plus protective effect
d. Consumption effect plus redistribution effect
12.When a government allows raw materials and other intermediate products to enter a country duty free, its tariff policy
generally results in a:
a. Effective tariff rate less than the nominal tariff rate
b. Nominal tariff rate less than the effective tariff rate
c. Rise in both nominal and effective tariff rates
d. Fall in both nominal and effective tariff rates
13.When the production of a commodity does not utilize imported inputs, the effective tariff rate on the commodity:
a. Exceeds the nominal tariff rate on the commodity
b. Equals the nominal tariff rate on the commodity
c. Is less than the nominal tariff rate on the commodity
d. None of the above
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Figure 4.1 illustrates the demand and supply schedules for pocket calculators in Mexico, a "small" nation that is
unable to affect the world price.
Figure 4.1. Import Tariff Levied by a "Small" Country
14.Consider Figure 4.1. With free trade, Mexico's producer surplus and consumer surplus respectively equal:
a. $5, $605
b. $25, $380
c. $45, $250
d. $85, $195
15.Consider Figure 4.1. With a per-unit tariff of $3, the quantity of imports decreases to:
a. 20 calculators
b. 40 calculators
c. 50 calculators
d. 70 calculators
16.Which of the following refers to a market-sharing pact negotiated by trading partners to moderate the intensity of
international competition?
a. Orderly marketing agreement
b. Local content requirements
c. Import quota
d. Trigger price mechanism
17.Which trade restriction stipulates the percentage of a product's total value that must be produced domestically in order
for that product to be sold domestically?
a. Import quota
b. Orderly marketing agreement
c. Local content requirement
d. Government procurement policy
18.If a tariff and an 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
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Figure 5.1 illustrates the steel market for Mexico, assumed to be a "small" country that is unable to affect the
world price. Suppose the world price of steel is given and constant at $200 per ton. Now suppose the Mexican
steel industry is able to obtain trade protection.
Figure 5.1. Alternative Nontariff Trade Barriers Levied by a "Small" Country
19.Referring to Figure 5.1, suppose the Mexican government imposes an import quota equal to 2 tons of steel.
If foreign exporters behave as monopoly sellers, and Mexican importers behave as competitive buyers, the overall
welfare loss of the quota to Mexico equals:
a. $200
b. $400
c. $600
d. $800
20.Referring to Figure 5.1, suppose the Mexican government imposes an import quota equal to 2 tons of steel.
If the Mexican government auctions import licenses to the highest foreign bidder, the overall welfare loss of the
quota to Mexico equals:
a. $200
b. $400
c. $600
d. $800
21.The World Trade Organization was established by the ____ of multilateral trade negotiations:
a. Kennedy Round
b. Tokyo Round
c. Uruguay Round
d. Clinton Round
22.A trade policy designed to alleviate some domestic economic problem by exporting it to foreign countries is known as
a (an):
a. International dumping policy
b. Trade adjustment assistance policy
c. Most-favored-nation policy
d. Beggar-thy-neighbor policy
23.Which of the following is not a major factor that encourages developing nations to form international commodity
agreements?
a. Inelastic commodity supply schedules
b. Inelastic commodity demand schedules
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c. Export markets that tend to be unstable
d. Secular increases in their terms of trade
24.A primary goal of international commodity agreements has been the:
a. Maximization of members' revenues via export taxes
b. Nationalization of corporations operating in member nations
c. Adoption of tariff protection against industrialized nation sellers
d. Moderation of commodity price fluctuations when markets are unstable
25.Which of the following represents the stage where economic integration is most complete?
a. Economic union
b. Customs union
c. Monetary union
d. Common market
26.Customs union theory reasons that the formation of a customs union will decrease members' real welfare when the:
a. Trade diversion effect exceeds the trade creation effect
b. Trade production effect exceeds the trade consumption effect
c. Trade consumption effect exceeds the trade production effect
d. Trade creation effect exceeds the trade diversion effect
27.Assume that the formation of a customs union turns out to include the lowest-cost world producer of the product in
question. Which effect could not occur for the participating countries?
a. Trade creation-production effect
b. Trade creation-consumption effect
c. Trade diversion
d. Scale economies and competition
28.Which type of multinational diversification occurs when the parent firm establishes foreign subsidiaries to produce
intermediate goods going into the production of finished goods?
a. Forward vertical integration
b. Backward vertical integration
c. Forward horizontal integration
d. Backward horizontal integration
29.Which of the following best refers to the outright construction or purchase abroad of productive facilities, such as
manufacturing plants, by domestic residents?
a. Direct investment
b. Portfolio investment
c. Short-term capital investment
d. Long-term capital investment
30.Multinational enterprises may provide benefits to their source (home) countries because they may:
a. Secure raw materials for the source country
b. Shift source country technology overseas via licensing
c. Export products which reflect source-country comparative disadvantage
d. Result in lower wages for source-country workers
PART II TRUE OR FALSE (15*2=30 Marks)
1.The trade theories of Adam Smith and David Ricardo viewed the determination of competitiveness from the demand
side of the market.
2.According to the principle of absolute advantage, international trade is beneficial to the world if one nation has an
absolute cost advantage in the production of one good while the other nation has an absolute cost advantage in the
other good.
3.The Heckscher-Ohlin theory asserts that relative differences in labor productivity underlie comparative advantage.
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4.The factor-endowment theory highlights the relative abundance of a nation's resources as the key factor underlying
comparative advantage.
5.The nominal tariff rate signifies the total increase in domestic productive activities compared to what would occur
under free-trade conditions.
6.When material inputs enter a country at a very low duty while the final imported product is protected by a high duty, the
result tends to be a high rate of protection for domestic producers of the final product.
7.Although the Tokyo Round of international trade negotiations reduced the Buy-American restrictions of the U.S.
government, many state governments have maintained restrictive Buy-American policies.
8.A subsidy granted to import-competing producers is intended to lead to increased domestic production and decreased
imports for the home country.
9.The high point of U.S. protectionism occurred with the passage of the Kennedy Act in the 1960s.
10.With the passage of the Smoot-Hawley Act in 1930, U.S. average tariffs were raised to over 50 percent on protected
imports.
11.Most developing-nation exports go to industrial nations while most developing-nation imports originate in industrial
nations.
12.The majority of developing-nation exports are primary products such as agricultural goods and raw materials; of the
manufactured goods exported by developing nations, most are labor-intensive goods.
13.Under the variable levy system of the European Union, EU farmers are protected against import competition by tariffs
that vary inversely with the world price.
14.Trade creation tends to more than offset trade diversion for a home country forming a customs union with partner
countries when: (1) the tariff rate in the home country is high prior to the formation of the customs union; (2) there
are a large number of countries forming the customs union.
15.International trade in goods and services and flows of productive factors are substitutes for each other.
PART III: QUESTIONS AND ANSWERS (10*1=10 Marks)
Is it possible for a low nominal tariff rate to understate the effective rate of protection? What is tariff escalation?
[KEYS]
PART I
1 –5 CABAB
11- 15 A B B A B
21- 25 C D D D C
PART II
1–5
FTFTF
11- 15 T T T T T
6 - 10
16- 20
26- 30
DAB DB
AC DDB
A C B AA
6 - 10 T T T F T
PART III
Is it possible for a low nominal tariff rate to understate the effective rate of protection? What is
tariff escalation?
Yes. In some countries, the effective rate of protection is more than twice the nominal rate. The effective
rate of protection takes into account the effects of tariffs levied on raw materials and intermediate goods. Tariff
structures of industrialized nations have generally been characterized by rates that give greater protection to
intermediate and finished products than to primary commodities. This is referred to as tariff escalation.
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