普格尔《国际贸易（第17版）》 英文题库Pugel17e_Chapter03_TB.docxVIP

PAGE 1 Copyright 2020 ? McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. International Economics, 17e (Pugel) Chapter 3 Why Everybody Trades: Comparative Advantage 1) According to the Mercantilists, governments should A) subsidize and encourage imports. B) subsidize and encourage exports. C) allow for free trade unencumbered by government regulations and restrictions. D) not spend much on national defense. 2) ________ wrote the Wealth of Nations. A) David Ricardo B) Paul Samuelson C) Adam Smith D) Karl Marx 3) When Adam Smith presented his theory of absolute advantage, he assumed that all value in an economy was determined by and measured in terms of the ________ used in the production of the various goods. A) area of land B) labor hours C) amount of physical capital D) amount of money 4) Labor productivity refers to: A) the number of units of output a worker can produce in one hour. B) the money value of a good that all workers in a firm produce in one day. C) the number of hours it takes a worker to produce one unit of output. D) the total numbers of hours it takes all the workers in a firm to produce a given money value of a good in one day. 5) Which of the following is true of mercantilism? A) Mercantilists believed that free trade is always beneficial for the trading nations. B) Mercantilists believed that under free trade each of the trading countries benefit equally. C) Mercantilists believed that a nation does not benefit directly from its exports. D) Mercantilism believed that national well-being was based on national holdings of gold and silver. 6) If Country X has higher labor productivity in the production of umbrellas than the rest of the world, we would say that Country X has a(n) ________ in the production of umbrellas. A) comparative advantage B) absolute advantage C) absolute disadvantage D) comparative disadvantage 7) Consider a two-country, two-commodit