01WorldTradeanOverview

01WorldTradeanOverview

1、单选题:
‎Trade includes____and____, contribute much to economic globalization, especially to world economic growth.‎
选项:
A: export,investiment.
B: import,investiment.
C: export,import.
D: investiment,consumption.
答案: 【 export,import.

2、单选题:
‏In Nov. 2018, Chinese government started to have China International Import Expo,______.‌‏‌
选项:
A: which is harmful for trade liberalization.
B: which is the first expo on the world that aims to encourage import.
C: which will dramaticlly weaken the competition of domestic market.
D: which will deter to economic globalization.
答案: 【 which is the first expo on the world that aims to encourage import.

3、单选题:
‎Nowadays members of WTO also pay more attention on service trade compared with before. Because_____.​
选项:
A: service trade has become more important than merchandise trade.
B: the issues of service trade usually combined with investment,which is important for world economic growth.
C: service trade is more competitive than other kinds of trade.
D: advanced countries has stronger competency in commercial service trade.
答案: 【 the issues of service trade usually combined with investment,which is important for world economic growth.

4、单选题:
‍Developing countries are becoming more important in world trade,________.‌
选项:
A: because the share of developing countries in world merchandise exports has increased obviously.
B: and developing economies exported less and less in past years.
C: merchandise trade between developing economies has decreased in the past decade.
D: because developing countries tend to cooperate with big economics.
答案: 【 because the share of developing countries in world merchandise exports has increased obviously.

5、单选题:
‎Why the three European Giants, Germany, U.K. and France usually have closer trade relationship with USA?‌
选项:
A: Because of the economic size.
B: Because of the distance.
C: Because of political factors.
D: Because of the border effect.
答案: 【 Because of the economic size.

6、单选题:
​According to the gravity model, a characteristic that tends to affect the probability of trade existing between any two countries is______.‌
选项:
A: their cultural affinity.
B: the value of their traded goods.
C: their colonial-historical ties.
D: the distance between them.
答案: 【 the distance between them.

7、单选题:
‍Which of following is NOT the factor affectting trade pattern?‏
选项:
A: cultural affinity
B: geography
C: political factors
D: physics
答案: 【 physics

8、单选题:
‍When world merchandise trade developed robust,______.‌
选项:
A: the performance of world real GDP growth rate will beterrible.
B: the world real GDP growth rate is to be negative.
C: the performance of world real GDP growth rate generally is also good.
D: it will pull down the world real GDP growth rate.
答案: 【 the performance of world real GDP growth rate generally is also good.

9、单选题:
‌For the consumers, trade especially import is very important,NOT because_____.​
选项:
A: they can have more choice and buy products.
B: they can enjoy services of higher quality with lower price.
C: they can access to kinds of products from different counties in the supermarket.
D: they can have more money to buy various products.
答案: 【 they can have more money to buy various products.

10、单选题:
‌Relying too much on trade,that’s to say, trade dependency or trade openness is too high,which is not very good for one country.Which of following is NOT ture?‏
选项:
A: Because it will make the country too fragile.
B: This is especially true for large countries.
C: But unfortunately, some countrie’s trade dependency still very high.
D: China’s trade dependency is very slow.
答案: 【 China’s trade dependency is very slow.

11、单选题:
​_____still the most important content of world trade.​
选项:
A: Manufactured goods
B: Service trade
C: Intellectual property
D: Partial manufactures
答案: 【 Manufactured goods

12、单选题:
‍The change range of the value of world merchandise trade usually larger than the volume one. Why?​
选项:
A: Because the volume of world merchandise trade is shinking.
B: Becausethe value of world merchandise trade is jumping.
C: The key reason is that the price of commodity has big influence on the trend of world trade development.
D: Because the rising of commodity price.
答案: 【 The key reason is that the price of commodity has big influence on the trend of world trade development.

13、单选题:
‏Usually, when world economy is hot, world trade volume will _____, at the same time the commodity price also will _____, so the value of world trade will expand more.‎
选项:
A: expand,fell down
B: expand,rise
C: shink,fell down
D: shink,rise
答案: 【 expand,rise

14、单选题:
‌Which of the following is most likely among the key topic list of G20 summit?‏
选项:
A: How to strengthen protective barriers.
B: How to encourage innovation.
C: How to ensure electricity safety.
D: How to deal with the fluctuation of commodity prices.
答案: 【 How to deal with the fluctuation of commodity prices.

15、单选题:
‎The traditional calculation usually misleads the understanding about global trade relationship. TiVA addresses this issue by _______.‏
选项:
A: composing of parts from various countries around the world.
B: considering the value added by each country in the production of goods and services that are consumed worldwide.
C: reflecting in conventional measures of international trade.
D: producing and exporting products which import parts from other country.
答案: 【 considering the value added by each country in the production of goods and services that are consumed worldwide.

Exercise1.1Whytradeisimportant

1、单选题:
​Chinese students go abroad to study in United Kingdom means_____.‌
选项:
A: The United Kingdom exports education services to China.
B: The United Kingdom imports education services from China.
C: China exports education services to United Kingdom.
D: China imports tourism services from United Kingdom.
答案: 【 The United Kingdom exports education services to China.

2、单选题:
‎As we all know,import is as important as exports,because_____.Which of following is NOT ture?‏
选项:
A: import can provide products or services that the domestic market cannot provide.
B: import can force the local firms try their best to innovate.
C: import can force the local firms improve product’s quality.
D: imports will hinder world economic growth absolutely.
答案: 【 imports will hinder world economic growth absolutely.

3、判断题:
‎Not all the people like trade, in fact some particular group will be harmed by trade.‎‎T or F‎
选项:
A: 正确
B: 错误
答案: 【 正确

Exercise1.2FeaturesandTrendsofWorldTrade

1、单选题:
‌Which of following is NOT key features and trends of World Trade?​
选项:
A: Service trade has became the most important content of world trade.
B: Trade in value added emerging as a sensitive and important topic and attracts more and more attention.
C: Digital technologies are reshaping world trade.
D: Fluctuation of commodity price will affect value of trade deeply.
答案: 【 Service trade has became the most important content of world trade.

2、单选题:
‏From what we learned,______provide a new insight into the commercial relations between nations by considering the value added by each country.‌
选项:
A: Trade in commodities
B: Trade in service
C: Trade in Value-Added
D: Intellectual property
答案: 【 Trade in Value-Added

3、判断题:
‏3)Digital technologies has fundamentally reshaped our economies, slashing the cost of acquiring and trading information.‏‏T or F‏
选项:
A: 正确
B: 错误
答案: 【 正确

Exercise1.3WhoTradeswithWhomTheGravityModel

1、单选题:
‌From the Gravity Model equation, we can find that the value of trade between two countries depends on two important factors, one is _______ and the other is_______.‌
选项:
A: economic size,the distance between them.
B: national territorial area ,the distance between them.
C: economic size,national territorial area.
D: economic size,investment.
答案: 【 economic size,the distance between them.

2、单选题:
‎Why in 2006 Canada is USA’s biggest trader, while in 2015 China substituted Canada to be the No.1?​
选项:
A: Because there are so many Chinese.
B: Because China’s economic size expanded.
C: Because China is closer to America than Canada.
D: Because chinese labor price is lower.
答案: 【 Because China’s economic size expanded.

3、判断题:
‏Only economic size and distance can affect trade pattern.‏‏T or F‏
选项:
A: 正确
B: 错误
答案: 【 错误

02ClassicalTradeTheory

02ClassicalTradeTheory

1、单选题:
‍In the Mercantilist view of international trade (in a two-country world),___________.‏
选项:
A: both countries could gain from trade at the same time, but the distribution of the gains depended upon the terms of trade.
B: both countries could gain from trade at the same time, and the terms of trade were of no consequence for the distribution of the gains.
C: neither country could ever gain from trade.
D: one country’s gain from trade was associated with a loss for the other country.
答案: 【 one country’s gain from trade was associated with a loss for the other country.

2、单选题:
‍In the price-specie-flow doctrine, a deficit country will __________ gold, and this gold flow will ultimately lead to __________ in the deficit country’s exports.‏
选项:
A: lose;  a decrease
B: lose;  an increase
C: gain;  a decrease
D:  gain;  an increase
答案: 【 lose;  an increase

3、单选题:
‎Which of the following policies would NOT be consistent with the Mercantilist balance-of-trade doctrine?‍
选项:
A: payment of high wages to labor
B: import duties on final products
C: export subsidies
D: prohibition of imports of manufactured goods
答案: 【 payment of high wages to labor

4、单选题:
‎Referring to the following Table, the opportunity cost of one VCR in Japan is:‌‎‌‎Table: Output possibilities for South Korea and Japan‌‎‌‎      Output per worker per day‌‎Country           Tons of steel   VCRs‌‎South Korea   80                   40‌‎Japan           20                   20     ‌‎‌‎‌
选项:
A: 1 ton of steel
B: 2 tons of steel
C: 3 tons of steel
D: 4 tons of steel
答案: 【 1 ton of steel

5、单选题:
​ Refer to the following table, according to the principle of absolute advantage, Japan should:‏​‏​Table: Output possibilities for South Korea and Japan‏​‏​ Output per worker per day‏​Country          Tons of steel    VCRs‏​South Korea       80             40‏​Japan               20             20    ‏​‏
选项:
A: Export steel
B: Export VCRs
C: Export steel and VCRs
D: None of the above; there is no basis for gainful trade
答案: 【 None of the above; there is no basis for gainful trade

6、单选题:
‌Refer to the following table, according to the principle of comparative advantage,​‌​‌Table: Output possibilities for South Korea and Japan​‌​‌ Output per worker per day​‌Country             Tons of steel VCRs​‌South Korea     80                 40​‌Japan                20              20     ​‌​
选项:
A: South Korea should export steel
B: South Korea should export steel and VCRs
C: Japan should export steel
D: Japan should export steel and VCRs
答案: 【 South Korea should export steel

7、单选题:
​The Ricardian model demonstrates that​
选项:
A:  trade between two countries will benefit both countries.
B: trade between two countries may benefit both regardless of which good each exports.
C: trade between two countries may benefit both if each exports the product in which it has a comparative advantage.
D: trade between two countries may benefit one but harm the other.
答案: 【 trade between two countries may benefit both if each exports the product in which it has a comparative advantage.

8、单选题:
‏In the Ricardian model, comparative advantage is likely to be due to _____.​
选项:
A: scale economies.
B: home product taste bias.
C: greater capital availability per worker.
D: labor productivity differences.
答案: 【 labor productivity differences.

9、单选题:

‍Given the information in the following table, Foreign's opportunity cost of widgets is_____.

‍ 

‎选项:
A: 0.5
B:  2.0.
C: 6.0.
D: 1.5.
答案: 【 0.5

10、单选题:
​In a two-product, two-country world, international trade can lead to increases in_________.‍
选项:
A: consumer welfare only if output of both products is increased.
B: output of both products and consumer welfare in both countries.
C:  total production of both products but not consumer welfare in both countries.
D: consumer welfare in both countries but not total production of both products.
答案: 【 output of both products and consumer welfare in both countries.

11、单选题:
‍Trade between two countries can benefit both countries if‏
选项:
A: each country exports that good in which it has a comparative advantage.
B: each country enjoys superior terms of trade.
C: each country has a more elastic demand for the imported goods.
D: each country has a more elastic supply for the exported goods.
答案: 【 each country exports that good in which it has a comparative advantage.

12、单选题:
‎A country engaging in trade according to the principles of comparative advantage gains from trade because it ________.‍

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