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1、Mankiw–Chapter9SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes1.Sincewoolsuitsarecheaperinneighboringcountries,Autarkawouldimportsuitsifitweretoallowfreetrade.2.Figure1showsthesupplyanddemandforwoolsuitsinAutarka.Withnotrade,thepriceofsuitsis3ouncesofgold,consumersurplusisare
2、aA,producersurplusisareaB+C,andtotalsurplusisareaA+B+C.Whentradeisallowed,thepricefallsto2ouncesofgold,consumersurplusrisestoA+B+D(anincreaseofB+D),producersurplusfallstoC(adeclineofB),sototalsurplusrisestoA+B+C+D(anincreaseofD).Atariffonsuitimportswouldreducethein
3、creaseinconsumersurplus,reducethedeclineinproducersurplus,andreducethegainintotalsurplus.Figure13.Lobbyistsforthetextileindustrymightmakefiveargumentsinfavorofabanontheimportofwoolsuits:(1)importsofwoolsuitsdestroydomesticjobs;(2)thewool-suitindustryisvitalfornatio
4、nalsecurity;(3)thewool-suitindustryisjuststartingupandneedsprotectionfromforeigncompetitionuntilitgetsstronger;(4)othercountriesareunfairlysubsidizingtheirwool-suitindustries;and(5)thebanontheimportationofwoolsuitscanbeusedasabargainingchipininternationalnegotiatio
5、ns.Indefendingfreetradeinwoolsuits,youcouldarguethat:(1)freetradecreatesjobsinsomeindustriesevenasitdestroysjobsinthewool-suitindustryandallowsAutarkatoenjoyahigherstandardofliving;(2)theroleofwoolsuitsforthemilitarymaybeexaggerated;(3)governmentprotectionisnotneed
6、edforanindustrytogrowonitsown;(4)itwouldbegoodforthecitizensofAutarkatobeabletobuywoolsuitsatasubsidizedprice;and(5)threatsagainstfreetrademaybackfire,leadingtolowerlevelsoftradeandlowereconomicwelfareforeveryone.170Chapter9/Application:InternationalTrade∑171Questi
7、onsforReview1.Ifthedomesticpricethatprevailswithoutinternationaltradeisabovetheworldprice,thecountrydoesnothaveacomparativeadvantageinproducingthegood.Ifthedomesticpriceisbelowtheworldprice,thecountryhasacomparativeadvantageinproducingthegood.2.Acountrywillexportag
8、oodforwhichitsdomesticpriceislowerthantheprevailingworldprice.Thus,ifacountryhasacomparativeadvantageinproducingagood,itwillbecomeanexporterwhent
