国际经济学练习及答案.docVIP

填空 1. International Trade Theory and policies are the aspects of international economics 2. The macroeconomics aspects of international economics are often referred to as open economy macroeconomics or international finance. 3. A community indifference curve shows the various combinations of two commodities that yield equal satisfaction to the community or nation. 4. Opportunity cost Theory refers the cost of a commodity is the amount of a second commodity that must be given up to release just enough resources to produce one additional unit of the first commodity. 5. Rate of effective protection is the tariff calculated on the domestic value added in the production of commodity. 6. The terms of trade of a nation are defined as the ratio of the price of its export commodity to the price of its import commodity. 7. Commodity X is labor intensive and commodity Y is capital intensive means that commodity X requires relatively more labor to produce than commodity Y in both nations. 8. In a world of two commodities (X and Y) and two factors (labor and capital), we say that commodity Y is capital intensive if the capital-labor ratio (K/L) used in the production of Y is greater than K/L used in the production of X. 9. International trade will bring about equalization in the relative and absolute returns to homogeneous factors across nations. 10. ——Quota—— is a direct —quantitative— restriction on trade. 11. Heckscher and Ohlin based —comparative— advantage on the difference in factor —endowments—among nations. 12. When a small nation imposes an import tariff, the —domestic price of the importable commodity rises by the full amount of the —tariff for individuals in the nation. 13. —Trade creation— occurs when some domestic production in a nation that is a member of the customs union is replaced by lower-cost imports from another member nation. 14. —Trade diversion—— occurs when lower-cost imports from outside the customs union are replaced by —higher-cost—— imports from a