Download Key to Exercises (Chapter 1 International Trade)

Key to Exercises (Chapter
1
International Trade)
1、 (1).The major reasons for international trade are as follows:
The distribution of natural resources around the world is
uneven.International trade also occurs for economic reasons,which
are well explained by the absolute advantage and comparative
advantage theories.International trade also takes place for
political reasons.One country might trade with another country in
order to support the latter's government which upholds the same
political dortrine. Or trade with some countries is banned or
restricted just not to benefit a government with political
disagreements.
（2）.First,many countries want a diversified economy to be less dependent
on foreign countries both economically and politically.Secondly, it
is crucial for countries to protect their vital industries,which are
closely related to estability and economic
development.Thirdly,trade restrictions are imposed to protect
infant industry.Furthermore,domestic jobs need to be protected from
cheap foreign labor.Last,trade restrictions are adopted for
political reasons.
（3）.A tariff is a duty or fee levied on goods being imported into a
country.
（4）.Non-tariff barries are those trade restrictions other than
tariff.Examples of non-tariff barries are :quoto,import
license,foreign exchange control,state monopoly of import and
export,government procurement policy,advanced deposit,technical
standards,health & sanitary regulations.
(5).(Open.)
(6).(Open.)
2
(1).absolute advantage:The theory of absolute advantage holds that
each country will benefit from specialization in those commodities in which
it has an "absolute advantage"(ie,being able to produce at a lower real cost
than another country),exporting them and importing other commodities which
it produces at a higher real cost than does another country.
(2).comparative advantage:The theory of comparative advantage holds
that trade will benefit both nations provided only that their relative
costs,that is,the ratios of their real costs,are different for two or more
commodities.In short,trade depends on differences in comparative cost,and
one nation can profitably trade with another even though its real costs are
higher(or lower)in every commodity.
(3).productivity:the rate at which goods or services are
produced,especially the output per unit of labor.
(4).economies of scale: cost advantage arising from large scale
production
(5).import surtax:Import surtax is levied in addition to import duty,is
temporary in coping with international payment difficulties,maintaining
balance of trade and preventing dumping,and is discriminatory against a
particular country.
(6).anti-dumping duty:import duty which aims at counteracting dumping
by exporters
(7).quota:a quantitative limit on imports and/or exports
(8).import license:a permit issued by the authorities to import certain
products subject to state supervision
(9).specific duty:Specific duty is collected per physical unit
according to weight,volume,measurement and quantity,etc.
(10).ad valorem duty:Ad valorem duty is collected according to value
or price,ie,at a percentage of the price.
3.
Types of Trade Restrictions
Revenue tariff vs. Protection tariff
Import surtax vs. Export duty
Countervailing duty
Tariffs
Import surtax
Anti-dumping duty
Variable levy
Trade
restrictions
Quota
Non-tariff
License
Advance deposit
Foreign exchange control
Technical standards
Health ﹠ sanitary regulations
4.as, knowledge, to, trust, skeptical, against
part
reach, others, over
5. 根据关税的征收方式来划分，共有四种类型的关税。从量税以每物理单位来征
收——根据重量、体积和数量等征收。从价税根据价值或价格征收，即以价格的百
分比来征收混合关税。混合关税先以从量税或从价税中的一种征收，然后再以另一
种征收。备择税则以从量和从价税两种方法中的较高者征收。