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1、际经济学作业答案-第十章Chapter 10 Trade in Developing Countries Multiple Choice Questions1. The infant industiy argument was an important theoretical basis for(a) Neo-colonialist theoiy of international exploitation.(b) Import-substituting industrialization.(c) Historiography of the industrial revolution in We
2、stern Europe.(d) East-Asian miracle.(e) None of the above. Answer: B2. Sophisticated theoretical arguments supporting import-substitution policies include (a) Terms of trade effects.(b) Scale economy arguments.(c) Learning curve considerations.(d) The problem of appropriability.(e) None of the above
3、. Answer: D3. General equilibrium considerations lead to the realization that import-substituting policies have an effect of(a) Discouraging exports.(b) Encouraging exports.(c) Encouraging an efficient use of a countrys resources.(d) Generating large tariff revenues for the government(e) None of the
4、 above. Answer: A4. Historically those few developing countries which have succeeded in significantly raising their per-capita income levels(a) Did not accomplish this with import-substituting industrialization.(b) Did accomplish this with import-substituting industrialization.(c) Tended to provide
5、heavy protection to domestic industrial sectors.(d) Favored industrial to agricultural or sendee sectors.(e) None of the above. Answer: AChapter 10 Trade in Developing Countries 10S5. Statistical evidence suggests that(a) Free trade policies promote economic growth more effectively than do import su
6、bstitution policies.(b) Import substituting policies tend to promote effective exploitation of scale economies.(c) Import substitution tends to lead to relatively low effective rates of protection.(d) Import substitution is to this day the preferred growth strategy promoted by the World Bank.(e) Non
7、e of the above.Answer: A6. The growth successes of the high performance Asian economies(a) Supports the belief that economic development requires import substitution policies.(b) Rejects the belief that export-oriented industrialization is likely to promote economic development.(c) Rejects the belie
8、f that economic development requires import substitution policies.(d) Suggests that fi ee trade policies are required for successful economic development.(e) None of the above.Answer: C7. The high correlation behveen rapid growth in exports and rapid economic growth obsen ed in several East Asia cou
9、ntries in recent decades proves that(a) Export promoting trade policy leads to relatively rapid economic growth.(b) A free-h ade orientation of trade policy results in rapid economic growth.(c) Exports help growth, whereas imports impede growth.(d) Trade policy is perhaps the most important policy a
10、rea for promotion of economic development.(e) None of the above.Answer: E8. The relatively rapid economic growth experienced by Chile in the late 1980s(a) Supported the conventional Latin American reliance on import substitution.(b) Relied on the Harris-Todaro model to explain this growth.(c) Reject
11、ed the conventional Latin American reliance on import substitution.(d) Demonstrated the iiuportance of market failure as a reason for import substitution.(e) None of the above.Answer: C9. Which of the following could explain why the terms of trade of developing countries might deteriorate over time?
12、(a) Developing countiy exports consist mainly of manufactured goods(b) Developing country exports consist mainly of primary products.(c) Commodity export prices are determined in highly competitive markets.(d) Commodity export prices are solely determined by developing counhies.(e) None of the above
13、.Answer: CChapter 10 Trade in Developing Countries 10910. Which trade strategy have developing countries used to restrict imports of manufactured goods so that the domestic market is preserved for home producers, who thus can take over markets alreadv established in the countiT?(a) International com
14、modity agreement.(b) Export promotion.(c) Multilateral contract.(d) Import substitution.(e) None of the above.Answer: D11. To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing counh ies below the
15、levels applied to imports fi om industrial countries. This policy is called(a) Export-led growth.(b) Generalized system of preferences.(c) Most Favored Nation.(d) Reciprocal trade agreement.(e) None of the above.Answer: B12. Which industrialization policy used by developing countries places emphasis
16、 on the comparative advantage principle as a guide to resource allocation?(a) Export promotion.(b) Import substitution.(c) International commodity agreements.(d) Infant Industry promotion.(e) None of the above.Answer: A13. Taiwan and South Korea are examples of developing nations that have recently
17、pursued these industrialization policies(a) Import substitution.(b) Export promotion.(c) Commercial dumping.(d) Multilateral contract.(e) None of the above.Answer: B14. To help developing nations strengthen their international competitiveness, many industrial nations have granted tariff reductions t
18、o developing nations under the(a) International commodity agreements program.(b) Multilateral contract program.(c) Generalized system of preferences program.(d) Export led growth program(e) None of the above.Answer: C15. A reason why it is difficult for developing countries to maintain a cartel is t
19、hat(a) The elasticity of demand for a carteFs output decreases over time.(b) Producers in the cartel have an economic incentive to cheat.(c) Economic profits discourage other producers from entering the industiy.(d) Producers in the cartel have the motivation to lower prices but not to raise prices.
20、(e) None of the above. Answer: B16. Import substitution policies make use of(a) Tariffs that discourage goods from entering a country.(b) Quotas applied to goods that are shipped abroad.(c) Production subsidies granted to industries with comparative advantage.(d) Tax breaks granted to industries wit
21、h comparative advantage.(e) None of the above. Answer: A17. Export-led growth tends to(a) Discourage competition in the global economy.(b) Exploit domestic comparative advantages.(c) Lead to unemployment among domestic workers.(d) Help firms benefit from diseconomies of large-scale production.(e) No
22、ne of the above. Answer: B18. All the following nations except have recently utilized export-led growth policies,(a) Hong Kong (b) South Korea (c) Argentina (d) Singapore(e) None of the above. Answer: C19. The development of countries like South Korea has been supported by all of the following excep
23、t.(a) High domestic interest rates.(b) High domestic saving rates.(c) Large endowments of human capital.(d) High levels of labor productivih(e) None of the above.Answer: A20. For most developing countries(a) Productivity is high among domestic workers.(b) Population growth and illiteracy rates are l
24、ow(c) Saving and inveshnent levels are high(d) Agricultural goods and raw materials constitute a high proportion of domestic output, (e) None of the above.Answer: D21. In 2003, the per-capita income in China was roughly of that in the U.S.(a) one hundredth(b) One eighth(c) One half(d) The same as(e)
25、 None of the above. Answer: B22. The “East Asian Miracle” is(a) The ability of so many people to live in such small areas.(b) The fact that so many Influenza varieties originate fi om this region.(c) The fact that poor dualistic economies managed to escape the vicious circle of poverty.(d) The abili
26、ty to maintain large positive trade balances with the U.S.(e) None of the above. Answer: C23. The infant industiy argument is that(a) Comparative advantage is irrelevant to economic growth(b) Developing countries have a comparative advantage in agricultural goods.(c) Developing countries have a comp
27、arative advantage in manufacturing.(d) Developing countries have a potential comparative advantage in manufacturing.(e) None of the above. Answer: D24. The infant industiy argument calls for active government involvement(a) Only if the government forecasts are accurate.(b) Only if some market failur
28、e can be identified.(c) Only if the industiy is not one already dominated by industrial countries.(d) Only if the industry has a high value added.(e) None of the above. Answer: B25. The imperfect capital market justification for infant industry promotion(a) Assumes that new industnes will tend to ha
29、ve low profits.(b) Assumes that infant industries will soon mature.(c) Assumes that infant industries will be in products of comparative advantage.(d) Assumes that banks can allocate resources efficiently.(e) None of the above.Answer: A26. Brazils export record in 1999 illustrated the principle that
30、(a) A large country will tend to have few exports.(b) A small country will tend to have a high export ratio.(c) Protectionist policies tend to discourage exports.(d) Export-promoting policies do not tend to work.(e) None of the above.Answer: C27. The disappointment with import-substitution policies
31、is in part because(a) The rapid and continuous growth record of South Aiueiican countries.(b) Many countries pursuing this strategy experienced stagnation in their growth.(c) This policy is inconsistent with sophisticated economic growth models.(d) This policy tended to create world-class industrial
32、 competitors.(e) None of the above. Answer: B28. Import substitution policies have over time tended to involve all but the following(a) Overlapping import quotas.(b) Exchange controls.(c) Domestic content rules.(d) Simple tariffs.(e) Multiple exchange rate schemes. Answer: D29. An efficient economy
33、would set the marginal product in the traditional sector(a) Lower than that in the modern non-traditional sector.(b) Higher than that in the luodern sophisticated sector.(c) Equal to that in the modern sophisticated sector.(d) Lower in the relatively capital intensive sector.(e) Higher in the relati
34、vely capital intensive sector. Answer: C30. The HPAE (High Performance Asian Economies) countries(a) Have all consistently supported free h ade policies.(b) Have all consistently maintained import-substitution policies.(c) Have all consistently maintained non-biased efficient free capital markets.(d
35、) Have all maintained openness to international h ade.(e) None of the above.Answer: D31. The experience of SubSahara Africa, as compared to that of Other Asia(not including the HPAEs) supports the argument that(a) High rates of protection tend to harm economic growth(b) The poorer is the countiy the
36、 easier it is for it to “catch up economically(c) Low rates of protection tend to promote economic growth(d) Both (a) and (c)(e) None of the aboveAnswer: E32. The remarkable success of the HPAEs proves that(a) trade policy is the key to successful economic growth(b) trade policy is ii relevant to su
37、ccessful economic growth(c) high educational standards is the key to successful economic growth(d) dual economies must suffer economic stagnation(e) None of the aboveAnswer: E33. The HPAE “economic miracle” illustrates a clear case in which(a) exports and growth were positively related(b) exports we
38、re promoted by successful economic growth(c) economic growth was determined by successful export promotion(d) trade policy dominated other considerations in promoting economic growth(e) None of the aboveAnswer: A34. The .East Asian Miracle” of the Four Tigers” in the 1960s was replicated by(a) devel
39、oping countries around the world(b) other East Asian countries(c) Sub Sahara African counh ies(d) Industrialized countries(e) None of the aboveAnswer: B35. The experience of Chiles foreign sector in the last two decades of the 20th Century supports the proposition that economic growth is supported b
40、y(a) Import substitution(b) Industrialization policies(c) Trade liberalization policies(d) Both (a) and (b) above(e) None of the aboveAnswer: C36. Chinas recent experience supports the proposition that(a) “Economic miracles” are solely to be expected in small countries(b) Central planning and social
41、ism can promote sustained economic growth(c) A lessening of income disparities is a prerequisite for economic growth(d) Growth in a large country cannot be affected by its foreign sector(e) None of the aboveAnswer: E Essay Questions1. It is argued that import substitution is a misguided trade policy
42、 if the intent is to promote long-term economic growth. Explain the reasons underhing this argument.Answer: Import substitution promotes that economic activity in which the country is relatively inefficient. This lowers the real income at any given time and decreases the resources which can be used
43、for investment purposes, hence lower growth rates. An additional answer is that impoil substitution by creating a protected domestic market fails to provide incentives to produce high, or world-class quality-which means this country, cannot market in foreign countries. With such a (perceived) limite
44、d market, endogenous economic growth will not be foilhcoming. Finally, it may be that exposure to world competition has its own dynamic effect promoting economic growth.2. The United States, as it began its long and successful growth in the early 19th Century, consciously promoted domestic productio
45、n through such activities as tariffs, Clays American System, and many direct subsidies to railroads, canal companies, farmers (free land) etc. Today we view this blatant example of large scale and extensive import-substitution industrialization as having been veiy successful. Comment and relate to y
46、our answer to question 1.Answer: This is an interesting point and emphasizes that economic models tend to be a-histoiical. That is, they lack the historic perspective; and thus may be misleading as guides to long run issues, such as economic growth. This also suggests that trade policy per se is alm
47、ost certainly not sufficient to explain why some countries grow and others do not.3. Classical and Neoclassical trade theory makes the case that fi ee trade can bring a country to an optimum and economically efficient use of its resources; and hence is an optimal trade-policy, if the objective is ma
48、ximizing long term economic growth. There are those who argue that the experience of the Asian Miracle countries, such as Taiwan, South Korea and Singapore verify this argument in the real world. Explain. There are others who argue that the experience of these countries cannot be used to verify or support the argument above. Explain.Answer: Both arguments may indeed be made. These countries