WorksheetsKiến thức Kinh tế Quốc tế
Total questions: 99
Worksheet time: 50mins
The theory of absolute advantage and comparative advantage calculates costs based on what?
Material costs
Labor costs
Payment costs
Transportation costs
"The invisible hand" is a term often mentioned in which theory?
Theory of Adam Smith
Mercantilist theory
Theory of Ricardo
Theory of Haberler
When the production cost of a product X in country A is lower than in country B, what does it mean?
Country B has an absolute advantage in product X
Country B has an absolute advantage in import production
Country A has an absolute advantage in product X
Country A has an absolute advantage in import production
"International trade benefits a country by sacrificing the interests of another country" is the viewpoint of which theory?
Theory of Ricardo
Mercantilist theory
Theory of Haberler
Theory of Adam Smith
What is the subject of study in international economics?
The world economy in a static state
The world economy in a static and dynamic state
The world economy in a state of labor division
The world economy in a dynamic state
What is international economics?
Study of the distribution and use of materials
Study of the distribution and use of goods
Study of the distribution and use of services
Study of the distribution and use of natural resources
What is the economic relationship?
Between international economic entities
Between national economic entities
Between private economic entities
Between state economic entities
What is the relationship between countries?
Economics; Politics; Military
Economics; Culture; Military
Economics; Politics; International economics
Economics; International economics
What is an international economic entity?
Nation; Territory; Nationality
Nation; Organization; Host country
Nation; Company; WTO organization
Nation; Organization; Community
What is the exchange relationship?
Trade; Investment; Finance
Trade; Finance; Investment
Trade; Resources; Finance
Trade; Capital; Labor
Where do buyers and sellers in the global market belong?
Many different companies
Many different countries
Only participating companies
Only participating enterprises
The development of international economic relations creates what kind of connection?
Mutual impact between international economic relations
Mutual impact between independent economies
Mutual impact between enterprises
Mutual impact between international organizations
International trade is considered balanced when __________.
Both countries involved do not benefit
Only one country benefits
Both countries involved benefit
It does not relate to national interests
Which author is associated with the theory of opportunity cost?
Haberler
Adam Smith
Ricardo
Jean Bodin
The theory of absolute advantage is linked to which author?
Ricardo
Adam Smith
Jean Bodin
Haberler
The theory of comparative advantage is associated with which author?
Adam Smith
Jean Bodin
Haberler
Ricardo
The opportunity cost of a product X is calculated based on the trade-off with __________.
A similar product
A different type of product
Another product
The same product
Suppose one hour of labor in the US produces 6 units of wheat or 4 meters of cloth, while in the UK one hour of labor produces 5 meters of cloth or 1 unit of wheat. Determine the absolute advantage between the two countries.
The US has an absolute advantage in wheat production; the UK has an absolute advantage in cloth production.
The US has an absolute advantage in both wheat and cloth production; the UK has no absolute advantage.
The US has an absolute advantage in wheat production; the UK has an absolute advantage in cloth production.
The US has an absolute advantage in cloth production; the UK has an absolute advantage in wheat production.
Suppose one hour of labor in the US produces 5 units of wheat or 3 meters of cloth, while in the UK one hour of labor produces 4 meters of cloth or 1 unit of wheat. Specialization in production between the two countries is based on:
Comparing the productivity of wheat production between the US and UK as 5/1, 4/2
Comparing the productivity of wheat production between the US and UK as 5/1, 4/3
Comparing the productivity of wheat production between the US and UK as 1/5, 4/3
Comparing the productivity of wheat production between the US and UK as 1/5, 3/4
Suppose one hour of labor in the US produces 6 units of wheat or 4 meters of cloth, while in the UK one hour of labor produces 5 meters of cloth or 1 unit of wheat. According to the theory of absolute advantage, international trade between the two countries would result in:
The US produces wheat and imports cloth from the UK; the UK produces cloth and exports it to the US
The US produces wheat, exports it to the UK, and imports cloth from the UK
The US produces wheat, exports it to the UK and imports cloth from the UK; the UK produces cloth, exports it to the US and imports wheat from the US
The US produces wheat and cloth, exports both to the UK and imports both from the UK
In country X, if the opportunity cost of product A is 3/2 of product B, what is the opportunity cost of product B?
2/3 of product A
2/3 of product B
5/2 of product B
3/2 of product A
In country Y, if the opportunity cost of product A is 2/5 of product B, what is the opportunity cost of product B?
5/2 of product A
5/3 of product B
5/1 of product A
5/2 of product B
Opportunity cost does not change within a country, but it is ______ between countries.
Similar
Different
Comparable
Distinguishable
If there is no trade, the consumption limit of a country is also its ______.
Resource limit
Cost limit
Production limit
Consumption limit
The production possibility frontier shows the combinations of two products that a country can produce when using all resources with ______.
Only one fixed technique
The same technique
The best technique
Equal techniques
The opportunity cost of a product is the amount of another product that must be sacrificed to have enough resources to increase one unit of ______.
Exported product
Product X2
Product X
Produced product
Labor cost is one of the production costs, but it is not ______.
Material cost
Overhead cost
Resource cost
Production cost
The law of comparative advantage based on labor cost is Ricardo's theory, which explains the basis of international trade based on the comparison of labor productivity between two products of _______.
Country
World
Two countries
Company
Absolute advantage is Adam Smith's theory, which explains the basis of international trade based on the difference in _______ of a product between two countries.
Labor productivity
Consumption productivity
Production productivity
Resource productivity
The law of comparative advantage based on opportunity cost is Haberler's theory, which explains the basis of international trade based on the comparison of _______ of products between two countries.
Labor cost
Opportunity cost
Comparative cost
Production cost
If country I produces a1 units of product A and b1 units of product B, and country II produces a2 units of product A and b2 units of product B, when a1/b1 > a2/b2, then _______.
Country I will export product A and import product B
Country I will export both products B and import product A
Country I will export product B and import product A
Country I will import both products B and product A
The law of comparative advantage still exists in value when using the concept of _______.
Comparative advantage explained
Absolute advantage explained
Opportunity cost explained
Fixed cost explained
Considering the value of a product based solely on labor costs, which is a weakness in the law of comparative advantage of whom?
Adam Smith
Haberler
Ricardo
Jean Bodin
In reality, labor is not what?
A fixed factor of production
The only factor of production
A business factor of production
An export factor of production
Economic relations are the totality of economic relations abroad considered within what scope?
Nation
Territory
World
Province, city
The production possibility frontier is also known as what?
PBF
PPF
PVF
PSS
What shape does the production possibility frontier graph have?
Upward sloping
Downward sloping
Horizontal
Vertical
Which of the following economic entities is considered an international entity?
Cocacola
ViNaSin
Vietnam
WTO
Asean +3 includes Asean countries and which three other countries?
Japan; Hong Kong; China
Japan; Singapore; China
Japan; China; South Korea
Singapore; China; South Korea
Points lying on the production possibility frontier are points of ______ production.
Outside the production possibility
Inefficient
Inside the production possibility
Efficient
Which of the following is NOT a viewpoint of mercantilism?
Deep government intervention in economic activities, especially in foreign trade
All countries do not benefit from trading with each other
All countries benefit from trading with each other
Gold and silver are national assets; the richer a country is in gold and silver, the more developed it is
When there is no trade, the highest consumption is achieved at the point ______.
Outside the production possibility frontier
Beyond the frontier by considering production possibilities
On the production possibility frontier
At the intersection of supply and demand
What is the basis of trade between two countries according to the provided material?
Absolute advantage; comparative advantage
Comparative advantage; opportunity cost
Opportunity cost; absolute advantage
Opportunity cost; comparative advantage
In modern theoretical models, why is specialization not complete?
To reduce the burden of increasing opportunity costs
Because each country's resources are unlimited
Because labor productivity increases
Because exchange rates are high
What does the law of comparative advantage require each country to do?
Specialize in producing goods with comparative advantage
Export goods with comparative advantage and import goods without comparative advantage
Specialize in producing goods without comparative advantage
Export goods with comparative advantage and import goods with competitive advantage
What is the practical significance of comparative advantage in international trade, even when products are no longer measured by time but by money?
Labor cost
Perfect competition
Trade balance
Commodity market
Canada belongs to which economic region?
Northeast America
South America
Central America
North America
The basis for international trade between countries is due to ________.
Labor and use of labor resources
Lack of efficiency
Differences in natural resource origins
Many jobs for workers
Which of the following is a mistake in international trade?
A country can only benefit from the sacrifice of another country
Misunderstanding the concept of international trade
Misunderstanding the concept of national assets
A country can only benefit from other countries
According to Adam Smith, absolute advantage is ________.
Relative difference in labor productivity
Relative difference in labor cost
Difference in labor cost and productivity
Absolute difference in labor productivity
The price of a product is compared on a domestic basis when ________.
Product price comparison; Opportunity cost, competitive product price
Only opportunity cost is considered
Only competitive product price is considered
Only product price comparison is considered
The government allows the Central Bank to lower the lending interest rate for commercial banks to 6% per year. Which economic field does this belong to?
Micro
International
Macro
Politics
What is not complete specialization?
Production costs have comparative advantage
Producing both products with the same level of comparative advantage
Producing more of the product with comparative advantage
Not producing any product
In reality, why does opportunity cost increase?
Resources are limited
Resources are unlimited
Resources are scarce
Resources are insufficient for production
What is the generalization of the law of comparative advantage compared to the theory of absolute advantage?
Gaining more from international trade
No trade barriers
A country considered the worst still has advantages when trading with a country considered the best
Price differences are smaller
Suppose 1 hour of labor in China produces 2 sets of clothes or 5 units of wheat, while in the US, 1 hour of labor produces 3 sets of clothes or 2 units of wheat. Which country has the absolute advantage in wheat?
China has the absolute advantage in wheat
The US has the absolute advantage in wheat
China has the absolute advantage in clothes
The US has the absolute advantage in clothes
Suppose 1 hour of labor in China produces 2 sets of clothes or 5 units of wheat, while in the US, 1 hour of labor produces 3 sets of clothes or 2 units of wheat. Which country has the absolute advantage in clothes?
China has the absolute advantage in wheat
The US has the absolute advantage in wheat
China has the absolute advantage in clothes
The US has the absolute advantage in clothes
The theory of absolute advantage establishes trade relations between countries on the basis of equality, with both sides benefiting. What does this mean in the case where there is no international trade?
The additional benefit for large countries must be greater than for small countries
The additional benefit for both sides must be equal
The additional benefit for both sides does not necessarily have to be equal
The additional benefit for small countries must be greater than for large countries
Suppose 1 hour of labor in China produces 2 sets of clothes or 5 units of wheat, while in the US, 1 hour of labor produces 3 sets of clothes or 2 units of wheat. If the exchange rate is 3 sets of clothes = 3 units of wheat, the benefit for China and the US respectively is:
2 hours and 5 hours
2 sets of clothes and 5 units of wheat
5.4 units of wheat and 1 set of clothes
4.5 units of wheat and 1 set of clothes
Suppose 1 hour of labor in China produces 2 sets of clothes or 5 units of wheat, while in the US, 1 hour of labor produces 3 sets of clothes or 2 units of wheat. The mutual benefit for both countries is equal when:
10 sets of clothes = 5.5 units of wheat
10 sets of clothes = 9.5 units of wheat
10 sets of clothes = 10 units of wheat
10 sets of clothes = 2 units of wheat
Which of the following statements is NOT correct regarding the comparison of product prices between two countries?
A. The purpose is balance, meaning export
B. Benefits are equal between two countries
C. Exports of country I equal exports of country II
D. Exports and imports between two countries are not equal
If 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios, which country has an absolute advantage in radio production?
A. Vietnam has an absolute advantage in radio production
B. Japan has an absolute advantage in rice production
C. Vietnam has an absolute advantage in rice production
D. Japan has an absolute advantage in radio production
If 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios, which country has an absolute advantage in rice production?
A. Vietnam has an absolute advantage in radio production
B. Japan has an absolute advantage in rice production
C. Vietnam has an absolute advantage in rice production
D. Japan has an absolute advantage in radio production
If 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios, what is the pattern of international trade?
A. Vietnam produces rice, exports to Japan, and imports rice from Japan
B. Japan produces radio, exports to Vietnam, and imports rice from Vietnam
C. Vietnam produces radio, exports to Japan, and imports rice from Japan
D. Japan produces rice, exports to Vietnam, and imports radio from Vietnam
Suppose 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios. What is the international trade scenario?
Japan produces radios, exports to Vietnam, and imports rice from Vietnam
Vietnam produces radios, exports to Japan, and imports rice from Japan
Vietnam produces rice, exports to Japan, and imports radios from Japan
Japan produces radios, exports to Vietnam, and imports rice from Vietnam
Suppose 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios. What is the labor saving for Vietnam?
Vietnam saves 1/3 hour of labor
Vietnam saves 1/6 hour of labor
Vietnam saves 1/2 hour of labor
Vietnam saves 1/4 hour of labor
Suppose 1 hour of labor in Japan produces 5 units of rice or 1 radio, while in Vietnam 1 hour of labor produces 2 units of rice or 3 radios. What is the labor saving for Japan?
Japan saves 250 hours of labor
Japan saves 230 hours of labor
Japan saves 150 hours of labor
Japan saves 240 hours of labor
According to the HECSCHER – OHLIN model, which of the following is assumed based on its hypotheses?
There is the use of domestic and foreign resources
Perfect competition between countries
Multiple uses in one economy
The most abundant supply in one economy
According to the HECSCHER – OHLIN model, what is the relative abundance of a production factor?
Labor surplus
Capital surplus
Relative condition
Absolute condition
In the HECSCHER – OHLIN model, what is the basis for determining surplus factors in terms of physical characteristics?
Surplus of labor and capital, labor, capital, land, technology
Producing a type of goods that requires the most available production factors
Determining surplus factors based on the amount of labor and capital available in each country
Producing goods that require many factors such as labor, capital, land, technology, etc.
In the HECSCHER – OHLIN model, what is the basis for determining surplus factors in terms of economic characteristics?
Each country focuses on producing goods with relative advantages and exchanges for mutual benefit
Trade helps countries participate in 'expanding' their production possibilities (production frontier)
Determining surplus factors based on the amount of labor and capital available in each country
Based on wage rates, interest rates to determine surplus labor or capital
According to the HECSCHER – OHLIN model, what is the difference between two surplus factors in terms of physical standards?
The most abundant supply in one economy
Based only on supply factors, ignoring demand effects
International trade will lead to relative balance
Production between countries is based on trade
According to the HECSCHER – OHLIN model, what is the difference between two surplus factors in terms of economic standards?
Based only on supply factors, ignoring demand effects
The most abundant supply in one economy
International trade will lead to relative balance
Production between countries is based on trade
According to the HECSCHER – OHLIN model, what does the law of factor price equalization state?
Factors are used independently in the production process of a specific product.
Factors are used similarly in the ratio of factor proportions in the production of goods.
Goods do not lead to the equalization of the ratio of factor prices and factor proportions in production.
International trade not only leads to the equalization of goods prices but also the equalization of factor prices in production.
According to the HECSCHER – OHLIN model, what is the meaning of the law?
The purpose of trade is substitution, the movement of factors between countries.
The absolute quantity of production factors (K – capital and L – labor) in a specific product.
The ratio of factor proportions (K/L) between specific products.
It is based on the source of supply only, ignoring the impact of demand.
What is the Stolper Samuelson theorem?
Abundance and cheap prices compared to other countries in a relative sense.
The absolute quantity of production factors (K – capital and L – labor) in a specific product.
Real income of workers decreases and real income of capital owners increases.
Real income of workers increases and real income of capital owners decreases.
According to the HECSCHER – OHLIN model, it was built to replace the basic comparative advantage model of __________.
Adam Smith
Ricardo
Haberler
Thomas
According to the HECSCHER – OHLIN model, it is a general equilibrium theoretical model of __________.
International trade
Domestic production
Market demand
Price elasticity
What theory was formed due to the limitations in D.Ricardo's theory?
Adam Smith
Heckscher - Ohlin
Thomas
Heberler
What is the limit of the production factors in goods?
Consumption limit
Production capacity
Payment capacity
Vertical line
Free trade balances the prices of production factors, thus it plays a role in replacing the movement of production factors according to which law?
Theory of Adam Smith
Stolper - Samuelson theorem
Rybczynski theorem
Law of price balance of production factors
At a constant price level of goods, an increase in the supply of a production factor will increase the output of the goods that use that factor and decrease the output of the other goods according to which law?
Rybczynski theorem
Stolper - Samuelson theorem
Law of price balance of production factors
Theory of Adam Smith
If the relative price of a certain good increases, then the relative price of the factor used more to produce that good will increase, while the relative price of the other factor will decrease according to which law?
Rybczynski theorem
Law of price balance of production factors
Theory of Adam Smith
Stolper - Samuelson theorem
A country expresses the relationship between export and import quantities based on the trade ratio, the ratio of export prices to import prices is called what?
Trade curve
Foreign trade curve
Production possibility frontier
Consumption possibility frontier
HECHSCHER – OHLIN proposed the following theory: ______
The absolute quantity of production factors (K – capital and L – labor)
Abundance and price are higher when compared to other countries
Labor-intensive exports from countries with low labor costs
The scarce resources for production in a country are fully utilized
The Stolper–Samuelson theory presents a research model where ______
With the complete mobility of production resources, international trade makes the price of production factors equal
Abundance and price are higher when compared to other countries in a relative manner
The income of labor increases and the income of capital owners decreases
The absolute quantity of production factors (K – capital and L – labor) in a specific product
Domestic equilibrium at the price level of products compared and expressed as the ______ of a country.
Absolute advantage
Labor advantage
Comparative advantage
Balanced advantage
Relative equilibrium is ______
The price comparison between two products in two countries with surplus capital
The price comparison between two products in two countries with surplus labor
The price comparison between two products in two countries is equal
The price comparison between two products in two countries is not equal
The indifference curve represents the combinations of different types of products that consumers can achieve with ______
Different satisfaction levels
Marginal rate of substitution
The same satisfaction level
Rate of exchange
Cân bằng tuyệt đối là ________.
Prices of production factors in 2 countries are the same
Prices of production factors in 2 countries are different
Prices of production factors in 2 countries have surplus capital
Prices of production factors in 2 countries have surplus labor
Lý thuyết cân bằng về giá cả các yếu tố sản xuất là ________.
Trade will lead to the balance of opportunity cost and absolute prices of production factors between trading countries
Trade will lead to the balance of relative and comparative prices of production factors between trading countries
Trade will lead to the balance of comparative and absolute prices of production factors between trading countries
Trade will lead to the balance of relative and absolute prices of production factors between trading countries
Hạn chế khác của lý thuyết H-O là ________.
The H-O theory cannot explain some issues regarding the origin of capital
The H-O theory cannot explain some issues regarding the origin of labor
The H-O theory cannot explain some other issues about international trade
The H-O theory cannot explain some issues regarding the origin of foreign trade
Thương mại quốc tế dẫn tới sự cân bằng giá tương đối và tuyệt đối của các yếu tố sản xuất đồng nhất giữa các ________.
Organizations
Companies
World
Countries
Lý thuyết H-O được coi là một trong những lý thuyết mạnh nhất của ________.
Economics
Political Economy
Microeconomics
International Economics
Các yếu tố sản xuất có thể di chuyển tự do tổng mỗi quốc gia, nhưng không thể di chuyển giữa các ________.
Organizations
Companies
Countries
World
A country will export goods whose production requires relatively abundant factors. What is this called?
Production is abundant in that country
Production is scarce in that country
Export production in that country
Import production in that country
According to the H-O theory, countries rich in natural resources are considered as countries that ______.
Produce
Goods
Export
Import
Vietnam exports textiles, footwear, and imports machinery and equipment. This trade pattern can be explained by which theory?
Heckscher-Ohlin theory
H-O-S theory
Comparative advantage theory
Absolute advantage theory
According to the H-O theory, the basic reason for international trade is the difference between countries in ______.
Exporting products
Importing products
Surplus production factors
Exporting labor
