国际经济学复习要点(修改).doc

The theory of absolute advantage：In a two-nation, two-product world , international trade and specialization will be beneficial when one nation has an absolute cost advantage in one good and the other nation has an absolute cost advantage in the other good. The theory of comparative advantage：The more efficient nation should specialize in and export the goods in which it is re-latively more efficient. The less efficient nation should specialize in and export the goods in which it is relatively less in-efficient. Opportunity cost：opportunity cost is the amount of a good–machine-that must be given up to release enough resources to produce another good-cloth. terms of trade：it measures the relationship between the prices a nation gets for its exports and the prices it pays for its imports. terms of trade= (exports prices index)/(imports prices index) ?00% nThe theory of reciprocal demand suggests that the actual international exchange ratio at which trade takes place depends on each trading partner’s interacting demands. The reciprocal demand theory indicates that the final international exchange ratio depends on the relative strength of each country’s demand for the other country’s product. If two countries are of unequal (population and income), it is possible that the larger country’s demand would be greater than the smaller country’s demand. As a result, the smaller country gains from than the larger country. the factor-proportions theory: The H-O theory states that a county’s comparative advantage is determined by its initial resource entertainment.；A country will have a comparative advantage in goods whose intensively uses its relatively abundant factor of production. A country will have a comparative disadvantage in goods whose intensively uses its relatively scarce factor of production. factor-endowment ：shows amount of the factors of production in a country relative to the other country, such as labor, land, natural resources. It can be denoted by capital-t