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年公務人員特種考試外交領事人員及外交行政人員、
國際經濟商務人員、民航人員及原住民族考試試題
考 試 別：外交人員考試
等 別：三等考試
類科組別：外交領事人員類科英文組二
科 目：國際經濟（以英文命題及作答）
考試時間： 2小時 座號：
※注意：禁止使用電子計算器。
代號：
10960
頁次：
4
－
1
甲、申論題部分：（75 分）
請以英文作答，不必抄題，作答時請將試題題號及答案依照順序寫在申論試卷上，於本試題上作
答者，不予計分。
請以藍、黑色鋼筆或原子筆在申論試卷上作答。
一、“Gains from trade”, as relatively to autarky, indicates the benefit caused from
international trade. Please answer the following related questions.
Use proper graphs to explain the “gain from exchange” (consumption gain)
and the “gains from specialization” (production gain) in the Ricardian
model and the neoclassical trade theory respectively. (10 points)
Gains from trade in the international monopolistic competitive markets.
(10 points)
二、The “U.S.-Taiwan Initiative on 21st-Century Trade” is a free trade initiative
for both Taiwan and the U.S.. Please illustrate the process and the
achievements till now and the possible important issues in the following stage.
(10 points)
三、In the Home Market, the demand curve and supply curve of cars are
D= 700 – Pand S= –100 + P, respectively. The price of cars in the
international market is $500.
What is the export supply function of Home? (5 points)
What are the gains from trade if Home can export cars? (5 points)
How will the Home’s social welfare be changed if Home government
subsidizes exports with $100 per unit? (10 points)
代號：
10960
頁次：
4
－
2
四、Use the information in the following table (based on the Balance of Payments
and International Investment Position Manual, Sixth Edition) on country X’s
international transactions to answer the following questions (amount are
millions of U.S. dollars):
Transactions Amount
Goods: credit (exports) $32,000
Goods: debit (imports) $38,000
Services: credit (exports) $25,000
Services: debit (imports) $15,000
Primary income: credit $34,000
Primary income: debit $32,000
Secondary income: credit $9,000
Secondary income: debit $11,000
What is X’s balance of goods and services? (5 points)
What is X’s current account balance? (5 points)
If country X is under fixed exchange regime, what are the effects of X’s
current account balance on its price level, money supply, and the value of
X’s currency relative to U.S. dollar? (15 points)
乙、測驗題部分：（25 分） 代號：6109
本試題為單一選擇題，請選出一個正確或最適當答案。
共20題，每題1.25分，須用2B鉛筆在試卡上依題號清楚劃記，於本試題或申論試卷上作答者，不予計分。
1 The interest rate on corporate bonds is typically than the interest rate on treasury bonds of the
same maturity because corporate bonds are .
higher; riskier higher; safer lower; riskier lower; safer
2 Acountry adopts an aggressive expansionary monetary policy that greatly expands its money supply. This
will most likely .
increase inflation and appreciate the currency
increase inflation and depreciate the currency
decrease inflation and appreciate the currency
decrease inflation and depreciate the currency
3 Other things being equal, fiscal stimulus is likely to have a smaller short-term multiplier if .
it is targeted at lower-income households
the country is in a recession
it applies to infrastructure projects that take many years to complete
inflation is well below the central bank’s long-term target
代號：
10960
頁次：
4
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3
4 ABig Mac meal costs $5 in the United States and 50 pesos in Mexico. The market exchange rate between
U.S. dollars and pesos is 20 pesos per $1. Average income per capita in the United States is $60,000, and
average income per capita in Mexico is 200,000 pesos. Measured using the market exchange rate, Mexican
income per capita in U.S. dollars is . Adjusted for Purchasing Power Parity (using the Big Mac
meal as the basket of goods), Mexican income per capita is .
$10,000; $20,000 $20,000; 4,000 Big Macs
$40,000; 40,000 pesos $400,000; $40,000
5 The U.S. government reports that job growth was unexpectedly high. As a result, markets expect that the
Federal Reserve Board is likely to , and in that day’s trading, long-term bond yields .
raise interest rates; are unchanged raise interest rates; rise
cut interest rates; rise cut interest rates; fall
6 China and the U.S. both produce two goods: tradable cellular phones, and non-tradable haircuts. Each
good is produced in competitive markets in a single process. Workers receive the marginal productivity
for their labor. There are no trade costs for cellular phones, while for haircuts they are prohibitively high.
The wage for per hour work is w RMB (Yuan) in China and w* dollars in U.S.. Suppose that, in one hour,
a Chinese laborer produces 3 cell phones and an American laborer produces 15 cellular phones, while one
laborer produces only one haircut in both countries. Suppose the price of a cellular phone is 2 RMB. Let
Ebe the nominal exchange rate of RMB per dollar. If E= 5, what is the price of a cellular phone in dollars?
0.8 0.5 0.4 0.3
7 Suppose that Guatemala can produce 1 ton of bananas or 2 tons of sugarcane on one acre of land, and that
Brazil can produce 6 tons of bananas or 3 tons of sugarcane on one acre of land. Hence, has the
comparative advantage in sugarcane production because it can produce sugarcane for the lowest .
Guatemala; opportunity cost Guatemala; total cost
Brazil; opportunity cost Brazil; total cost
8 Other things being equal, what will happen to the price of a bond if the rate of return on similar assets rises?
The price of the bond goes up.
The price of the bond goes down.
This will not affect the price of the bond.
The price of the bond might go up, go down, or remain the same.
9 During an international financial crisis, many depositors’ withdrawing of their funds from a bank at the
same time is most likely to cause .
a fire sale of the bank’s assets the bank’s liabilities to rise
the bank’s cash reserves to increase an increase in lending by the bank
10 Other things being equal, an increase in U.S. interest rates relative to interest rates in the rest of the world
will cause the dollar to and net exports to .
appreciate; drop depreciate; drop
appreciate; increase depreciate; increase
11 Under the flexible exchange rate system, the responses of an economy to a temporary fall in foreign
demand for its exports are .
output falls, and the domestic currency appreciates
output falls, and the domestic currency depreciates
output increases, and the domestic currency depreciates
output remains constant, and the domestic currency depreciates
12 Country Sis endowed with 1,200 units of labor and can produce two tradable commodities, i.e., clothing and
computers.The labor requirement per unit of clothing is 8 and that of computers is 16. Country Nis endowed
with 800 units of labor and requires 4 units of labor per unit of clothing and 5 units of labor per unit of
computers.What is the opportunity cost of clothing in terms of computers for countries Sand N, respectively?
1.2; 2 2; 1.2 0.8; 0.5 0.5; 0.8
代號：
10960
頁次：
4
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4
13 Which of the following is the closest to a lender of last resort of the world?
The World Bank The International Monetary Fund
The World Trade Organization The United Nations
14 Fixed exchange rate regimes have the advantage in that they , but have the disadvantage in that
they .
promote trade; make it impossible to conduct independent countercyclical monetary policy
make it possible to conduct independent countercyclical monetary policy; discourage trade
eliminate current account deficits; make it impossible to conduct independent countercyclical
monetary policy
eliminate current account deficits; discourage trade
15 Which of the following is the reason why do economies often see stronger economic growth accompanied
by larger trade deficits?
Higher output leads to greater consumption and investment, including that of imported goods. Imports
therefore go up and net exports go down.
Countries generally get stronger growth through expansionary monetary policy, and expansionary
monetary policy therefore increases trade deficits.
Lower tariffs help economic growth and also result in substantial reductions in the trade deficit.
The labor demand curve shifts to the left due to wages going down.
16 The United States agrees with China that from now on China will buy their soybeans from the United
States instead of from Brazil. This decision is not expected to change the overall levels of national saving
and investment in the U.S.. This is most likely to the U.S. trade deficit with China and the
U.S. trade deficit with countries other than China.
decrease; decrease decrease; not change
decrease; increase not change; not change
17 By fixing the exchange rate, which of the following impacts should the central bank give up?
Increasing government spending.
Influencing the economy through fiscal policy.
Depreciating the domestic currency.
Influencing the economy through monetary policy.
18 The Heckscher-Ohlin model of comparative advantage differs from the Ricardian model in that the former
model has .
two countries
two products
two factors of production
two production possibility curves (one for each country)
19 Which of the following events triggered the East Asian financial crisis in 1997?
South Korea’s inability to pay its debts. Devaluation of South Korea’s currency.
Thailand’s inability to pay its debts. Devaluation of Thailand’s currency.
20 When comparing standards of living across countries in the same year, economists typically .
use market exchange rates to express GDP per capita in the same currency units
use purchasing power parity adjustments to express GDP per capita in the same currency units, and
account for differences in the cost of living
use price indices to adjust GDP per capita for inflation in both countries
look at overall GDP rather than GDP per capita