国际贸易期中代考 CAS EC 391代写 International Trade代写

International Trade CAS EC 391

国际贸易期中代考 QUESTION 1. The Ricardian Model of Trade I. 50 POINTS. There are two countries, the United States of America (USA) and China (CHN).

QUESTION 1. The Ricardian Model of Trade I. 50 POINTS.

There are two countries, the United States of America (USA) and China (CHN). Both countries can produce bikes (b) and computers (c), using production processes represented by y_ij = A_ij l_ij, where y is the amount of the good produced, and l the amount of labor used. The subscript “i” represents the country, and “j” the industry. Assume that

A_usa,b = 1/2, A_chn,b = 1, A_usa,c = 2, A_chn,c = 3/2. Further assume that the total amount of labor in the USA and China are the same L_usa = L_chn = 10 (measured in hours).

a.

Find the pattern of comparative advantages. Which country will export bikes? Which country will export computers? (10 pts)

b. Graph the Production Possibility Frontier (PPF) for the USA. Clearly label x-intercept, y-intercept, and slope. (10 pts)

c. First, assume that the USA is in autarky. If the equilibrium price were P⁰_c/P⁰_b, show, on the graph above, how many bikes and computers would be produced. Label those quantities q⁰_b and q⁰_c. Show in the same graph how many bikes and computers Americans would consume. Label those quantities d⁰_b and d⁰_c. Draw as many indifference curves as you need to. [You do not have to calculate any number; just show how the graph looks like qualitatively]. (10 pts)

d. Assume that the USA open up and export the good they are relatively best at producing (your answer to a). If the world equilibrium price were P¹_c/P¹_b, show on the graph how many bikes and computers the USA produce in the open equilibrium. Label those quantities q¹_b and q¹_c. (5 pts)

e. Show on the graph how many bikes and computers the USA consumes in the open equilibrium. Label those quantities d¹_b and d¹_c. Draw as many indifference curves as you need to. (5 pts)

f. Did welfare in the USA increase or decrease in the open equilibrium? In China? Why? (10 pts)

QUESTION 2. The Heckscher-Ohlin Model of Trade. 25 POINTS. 国际贸易期中代考

There are two countries, Home and Foreign, and two goods, pizza and beer. Assume that the equilibrium for Home is the one depicted in the figure below.

a. Show on the graph how much beer and pizza Home produces and consumes. Label those quantities, respectively, q¹_b, q¹_p, d¹_b and d¹_p. (5 pts)

b. Is Home an exporter or importer of pizza? What about Foreign? (5 pts)

c. Assume that Foreign gets better at producing beer. What happens with the terms of trade at Home (i.e. the price of exports over imports)? Do they increase or decrease? Show on the graph the new quantities produced and consumed by Home. Label them, respectively, q²_b, q²_p, d²_b and d²_p. (10 pts)

d. Does overall welfare increases or decreases at Home? (5 pts)

QUESTION 3. The Heckscher-Ohlin Model (30 points). 国际贸易期中代考

There are two countries, China and Belgium, two factors of production, land, , and labor, , and two goods, cloth and wheat. The production functions, which are identical across countries, are:

Q_c = L^0.5_cT^0.5_c

Q_w = L^0.2_wT^0.8_w

L_i is the amount of labor used in industry i, T_i is the amount of land used in industry and i Q_i is the amount of good i produced. China has 1 billion people and 9,600,000 square kilometers of land. Belgium has 355 habitants per square kilometer.

a. Which good is land-intensive?  Which good is labor-intensive? (10 pts.)

b. Under free trade, which country would export wheat? Which country would export cloth? (10 pts.)

c. When China moves from a closed economy to free trade, what happens to the incomes of landowners?  What happens to the incomes of laborers?  (10 pts.)

QUESTION 4. The Ricardian Model of Trade II (25 points). 国际贸易期中代考

There are two countries, Switzerland and Japan.  Both countries can produce watches and cars.  Switzerland can produce one car in 2 hours, while Japan can produce one car in 5 hours. Japan can make one watch in 10 hours, while Switzerland can make one watch in 8 hours.

b. Which country has the comparative advantage in producing cars? (10 pts.)

c. If the countries are open to trade, who exports cars? Who exports watches? (5 pts.)

QUESTION 5. The Ricardian Model of Trade III (20 points)

Given the following information:

Labor Requirements (units of labor needed to produce one unit of output)

Cloth Widgets

Home 200     400

Foreign    120       60

a. What is the opportunity cost of Cloth in terms of Widgets in Foreign? (10 pts)

b. If these two countries trade these two goods in the context of the Ricardian model of trade, what is the upper limit for the world equilibrium (relative) price of widgets? (10 pts)

QUESTION 6. Infant Industry. 20 POINTS. 国际贸易期中代考

Suppose that the marginal product of labor in “Machinery and Electronics” (M&E) for China evolves according to the following function: Z(t) = 3 + t. The current year 2019 corresponds to t = 0.

a. Calculate the marginal product of labor in “M&E” for China in 2019 and 2025. What’s the function Z(t) trying to capture? 4 points.

b. A process like the one captured by the function Z(t) forms the basis for the infant-industry protection argument. In that regard, describe briefly the context of the article we analyzed in class that showed a causal link between protection and the successful development of an industry. Describe the source of exogenous variation for the empirical strategy. Be precise. 10 points.

c. Describe TWO pieces of evidence that the article provides in order to establish that the temporary protection provided by the “shock” described in the article was effective. Be as precise as you can. 6 points.

a. Which good is land-intensive?  Which good is labor-intensive? 5 points.

b. Under free trade, which country would export wheat? Which country would export computers? Show your calculations 10 points.

c. If the world price of computers decreases, what happens to the income of landowners in China?  In Benelux? 10 points.

QUESTION 8.  25 POINTS. The Ricardian Model of Trade.

There are two countries: Thailand and the rest of the world. There are two goods needed for the production of footwear, soles and uppers. The graph below depicts the free-trade equilibrium for a typical firm operating in Thailand: the slope of the dashed line is the world relative price of soles and the solid line is the production possibility frontier in Thailand. The black curve (isoquant) indicates the combination of soles and uppers the firm needs to produce 1$ of the final output (footwear). Labor is the only factor of production.

a. Show on the graph how many Soles and Uppers firms in Thailand produce and “consume”. Label those quantities, respectively, q¹_s, q¹_u, d¹_s and d¹_u. 10 points.

b. Is Thailand an exporter or importer of Uppers? 3 points.

c. Assume that the world price of Uppers increases. What happens with the terms of trade in Thailand? Show on the graph the new quantities produced and consumed by Thailand. Label them, respectively, q²_s, q²_u, d²_s and d²_u (you need to plot a new isoquant). 7 points.

d. Does overall welfare increase or decrease in Thailand? Why? 5 points.

QUESTION 9. 25 POINTS. 国际贸易期中代考

We read TWO articles that based their empirical strategy on a “natural experiment”. Pick ONE for answering the question (do not switch as you go!). BE CONCISE; UNRELATED STUFF WON’T GIVE YOU ANY POINT.

a. In what follows, I choose to analyze the article about …. 2 points.

b. What is the source of exogenous variation for the empirical strategy? 5 points.

c. Describe briefly the main elements of the empirical strategy in the paper (i.e. the elements that allow the author to make causal inference). 8 points.

d. Describe briefly the main result of the article and the implications for policy. 10 points.

QUESTION 10. 20 POINTS. The Rise of Manufacturing in China.

The following figure is taken from Autor, Dorn, and Hanson (2016). The left panel shows the evolution of net exports (as a share of GDP), for China, for the manufacturing sector and for a primary goods sector (“Food, fuels, ores, and metals”). The right panel shows Revealed Comparative Advantage (in logs), for the same sectors, in China.

a. By 2010-12, how big were China’s net exports in each of the sectors in the figure (be precise)? 5  points.

b. Define Revealed Comparative Advantage. What does the right panel tell us about the pattern of comparative advantage for China during the last 20 years? 5 points.

c. According to the H-O model, if Mexico had a revealed comparative advantage in manufacturing, what would have happened to its terms of trade from the nineties on? What would have been the overall welfare effect in Mexico? If unskilled labor is used intensively in manufacturing, has it been experiencing gains or losses in China? In Mexico? 10 points.

QUESTION 11. Ricardian Model of Trade. 10 points.  国际贸易期中代考

The graph below depicts the autarky and free-trade equilibrium for the Home country: the slope of the dashed line represents the world relative price of computers and the solid line is the production possibility frontier. Labor is the only factor of production. The slope of the solid line is -2/3 while the slope of the dashed line in -1.  Which statement is correct?

a. The opportunity cost of computers in terms of bikes is 2/3.

b. The opportunity cost of bikes in terms of computers is 2/3.

c. The opportunity cost of computers in terms of bikes is 1.

d. The opportunity cost of bikes in terms of computers is 1.

更多代写：Cs线上考试作弊技巧  gmat网考代考费用  英国医学代写  Essay代写网上价格  literature review常用语句 数学复数分析代写  

合作平台：essay代写 论文代写 写手招聘 英国留学生代写