InternationalTrade国际贸易英文版期末复习题.docVIP

Classicl trade theory This table shows bushels of wheat and the yards of cloth that the US and the UK can produce with one hour of labor time under four different hypothetical situations. Cloth Wheat UK 2 1 US 3 4 Suppose that the US exchange 4W for 4C with the UK a. How much does the US gain? b. How much does the UK gain? c. What is the range for mutually beneficial trade? Suppose that the US exchange 4W for 6C with the UK a. How much does the US gain? b. How much does the UK gain? c. What is the range for mutually beneficial trade? Neo-classical trade theory The country of Pugelovia has an endowment (total supply) of 20 units of labor and 3 units of land, whereas the rest of the world has 80 units of labor and 7 units of land. Is Pugelovia labor-abundant? Is Pugelovi land-abundant? If wheat is land-intensive and cloth is labor-intensive, what is the Heckscher-Ohlin prediction for the pattern of trade between Pugelovia and the rest of the world? From the following information calculate the total input shares of labor and capital in each dollar of cloth output: For Each Dollar of Cloth Output Synthetic Fiber Output Cotton Fiber Output Direct labor input $0.50 $0.30 $0.60 Deirect capital input 0.20 0.70 0.40 Synthetic fiber input 0.10 0.00 0.00 Cotton fiber input 0.20 0.00 0.00 All inputs $1.00 $1.00 $1.00 Cloth is the only product that this country exports. The total input share of labor in producing $1.00 of import substitutes in this country is $0.55, and the total input share of capital is $0.45. Is this trade pattern consistent with the fact that this country is relatively labor-abundant and capital-scarce? Tariff You have been asked to quantify the effects of a country’s tariff on sugar. The hard part of the work is already done: Somebody has esimated how many pounds of sugar would be produced, consumed, and imported by the country if there were no sugar duty. You are given the information shown in the table. Situation with Import Tariff Estimated