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1、AnswerstoEvenProblemsforThomasPugel,InternationalEconomicsText(14thEdition)TRADEMODULEChapter3WhyEverybodyTrades:ComparativeAdvantageSuggestedanswerstoquestionsandproblems(inthetextbook)2.Agree.Importspermitthecountrytoconsumemore(ordomorecapitalinvestmentusingimport
2、edcapitalgoods).Anythingthatisexportedisnotavailablefordomesticconsumption(orcapitalinvestment).Althoughthislossisbad,exportsarelikeanecessaryevilbecauseexportsarehowthecountrypaysfortheimportsthatitwants.4.Ifthecountriestradewitheachotherattherelativepriceof1W/C,the
3、nshiftingonlyhalfwaytocompletespecializationinproductionwouldbeworseforeachcountrythanshiftingtocompletespecialization.IftheUnitedStatesshiftedonlyhalfway,thenitsnew“tradeline”wouldbeparalleltothetradelineshowninFigure3.1,anditwouldstartfromthepointontheppcthatishalf
4、waybetweenS0andS1.WhilethisnewtradelinewouldallowtheUnitedStatestoconsumeatapointthathadmoreconsumptionthanattheinitialS0,theUnitedStatescoulddoevenbetterbyshiftingproductionallthewaytopointsS1andconsumingalongthetradelineshowninFigure3.1.ConsumingatapointlikeCwouldh
5、aveevenmoreconsumptionthanconsumingatapointonthenew“half-way”tradeline.Essentiallythesamereasoningcanbeusedfortherestoftheworld,foranewtradelinethatisparalleltotherestoftheworld’stradelineshowninFigure3.1,butthatbeginsatapointontherestoftheworld’sppcthatishalfwaybetw
6、eenS0andS1.6.Usingtheinformationonthenumberoflaborhourstomakeaunitofeachproductineachcountry,youcandeterminetherelativepriceofclothineachcountrywithnotrade.Withnotrade,therelativepriceofclothis2W/C(=4/2)intheUnitedStates,anditis0.4W/C(=1/2.5)intherestoftheworld.Withf
7、reetradetheequilibriumworldpriceofclothmustbeintherangeboundedbythesetwono-tradeprices.So,yes,itispossiblethatthefree-tradeequilibriumrelativepriceofclothis1.5W/C(1.5isgreaterthan0.4,andlessthan2).8.a.MoonitedRepublichasanabsoluteadvantageinwine—ittakesfewerlaborhour
8、stoproduceabottle(10<15).MoonitedRepublicalsohasanabsoluteadvantageinproducingcheese—ittakesfewerlaborhourstoproduceakilo(4<10).b.M
