1. Historianshofheconomichthoughthoftenhdescribe writtenhbyhh
andhpublishedhin ashthehfirsthrealhexpositionhofhanheconomichmodel.
A. "OfhthehBalancehofhTrade,”hDavidhHume,h1776
B. "WealthhofhNations,"hDavidhHume,h1758
C. "WealthhofhNations,"hAdamhSmith,h1758
D. "WealthhofhNations,"hAdamhSmith,h1776
E. "OfhthehBalancehofhTrade,"hDavidhHume,h17
58hAnswer:hE
2. Fromh1959htoh2000,
A. thehU.S.heconomyhroughlyhtripledhinhsize.
B. U.S.himportshroughlyhtripledhinhsize.
C. thehsharehofhUShTradehinhtheheconomyhroughlyhtripledhinhsize.
D. U.S.hImportshroughlyhtripledhashcomparedhtohU.S.hexports.
E. U.S.hexportshroughlyhtripledhinhsize.
Answer:hC
3. ThehUnitedhStateshishlesshdependenthonhtradehthanhmosthotherhcountrieshbecause
A. thehUnitedhStateshishahrelativelyhlargehcountry.
B. thehUnitedhStateshishah"Superpower.".
C. thehmilitaryhpowerhofhthehUnitedhStateshmakeshithlesshdependenth
onhanything.
D. thehUnitedhStateshinvestshinhmanyhotherhcountries
E. manyhcountrieshinvesthinhthehUnitedhStates.
Answer:hA
4. Ancienththeorieshofhinternationalheconomicshfromhtheh18thhandh19thhCenturieshare:
A. nothrelevanthtohcurrenthpolicyhanalysis.
B. arehonlyhofhmoderatehrelevancehinhtoday'shmodernhinternationalheconomy.
C. arehhighlyhrelevanthinhtoday'shmodernhinternationalheconomy.
D. arehthehonlyhtheorieshthathactuallyhrelevanthtohmodernhinternation
alheconomy.
E. arehnothwellhunderstoodhbyhmodernhmathematicallyhorientedhtheorists.
, 5. Anhimportanthinsighthofhinternationalhtradehtheoryhishthathwhenhcountrieshexchan
gehgoodshandhserviceshonehwithhthehotherhit
A. ishalwayshbeneficialhtohbothhcountries.
B. ishusuallyhbeneficialhtohbothhcountries.
C. ishtypicallyhbeneficialhonlyhtohthehlowhwagehtradehpartnerhcountryh.
D. ishtypicallyhharmfulhtohthehtechnologicallyhlagginghcountry.
E. tendshtohcreatehunemploymenthinhbothhcountries.
Answer:hB
6. Ifhthereharehlargehdisparitieshinhwagehlevelshbetweenhcountries,hthen
A. tradehishlikelyhtohbehharmfulhtohbothhcountries.
B. tradehishlikelyhtohbehharmfulhtohthehcountryhwithhthehhighhwages.
C. tradehishlikelyhtohbehharmfulhtohthehcountryhwithhthehlowhwages.
D. tradehishlikelyhtohbehharmfulhtohneitherhcountry.
E. tradehishlikelyhtohhavehnoheffecthonheitherhcountry.
Answer:hD
7. Benefitshofhinternationalhtradeharehlimitedhto
A. tangiblehgoods.
B. intangiblehgoods.
C. allhgoodshbuthnothservices.
D. services.
E. Nonehofhthehabove.
Answer:hE
8. Attemptshtohexplainhthehpatternhofhinternationalhtrade
A. havehbeenhahmajorhfocushofhinternationalheconomists.
B. havehprovenhtohbehhopeless.
C. havehprovenhtohbehahtrivialhexercise.
D. havehbeenhthehpreoccupationhofheconomichdevelopmenththeorists.
E. Nonehofhthehabove.
Answer:hA
9. Whichhofhthehfollowinghdoeshnothbelong?
A. NAFTA
B. UruguayhRound
C. WorldhTradehOrganization
D. NonehTariffhBarriers
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