chap4中级宏观经济学答案华中科技大学docx.docx
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chap4中级宏观经济学答案华中科技大学docx
Microeconomics,4e（Perloff）
Chapter4ConsumerChoice
4.1Preferences
1）Anindifferencecurverepresentsbundlesofgoodsthataconsumer
A）viewsasequallydesirable・
B）ranksfrommostpreferredtoleastpreferred・
C）referstoanyotherbundleofgoods.
D）Alloftheabove.
Answer:
A
Topic:
Preferences
2）Theassumptionofcompletenessmeansthat
A）theconsumercanrankallpossibleconsumptionbundles・
B）moreofagoodisalwaysbetter.
C）theconsumerscanrankallaffordableconsumptionbundles・
D）allpreferencesconditionsaremet.
Answer:
A
Topic:
Preferences
3）IfaconsumerprefersApplestoBananasandprefersBananastoCitrusFruit,inordertosatisfyassumptionsaboutpreferencesshehastoprefer
A）BananastoApples・
B）CitrusFruittoBananas・
C）ApplestoCitrusFruit・
D）CitrusFruittoApples.
Answer:
C
Topic:
Preferences
4）TheprinciplethatnMorcisbcttcrMresultsinindifferencecurves
A）slopingdown.
B）notintersecting・
C）reflectinggreaterpreferencesthefurthertheyarefromtheorigin.
D）Alloftheabove.
Answer:
D
Topic:
Preferences
5）Thereisanindifferencecurvethrougheverybundlebecauseoftheassumptionof
A）transitivity.
B）completeness・
C）rationality.
D）nonsatiation・
Answer:
B
Topic:
Preferences
6）Indifferencecurvesaredownwardslopingbecauseoftheassumptionof
A）completeness・
B）transitivity.
C）moreisbetter.
D）Alloftheabove.
Answer:
C
Topic:
Preferences
7）Iftwoindifferencecurvesweretointersectatapoint,thiswouldviolatetheassumptionof
A）transitivity.
B）completeness・
C）BothAandBabove.
D）Noneoftheabove.
Answer:
A
Topic:
Preferences
8）Indifferencecurvesthatarethickviolate
A）theassumptionoftransitivity.
B）theassumptionthatmoreisbetter.
C）theassumptionofcompleteness・
D）noneoftheassumptions・
Answer:
B
Topic:
Preferences
9）Aconsumer'swillingnesstotradeonegoodforanothercanbeexpressedbytheconsumer's
A）indifferencecurve・
B）marginalrateofsubstitution.
C）BothAandBabove.
D）Noneoftheabove.
Answer:
C
Topic:
Preferences
10）Convexityofindifferencecurvesimpliesthatconsumersarewillingto
A）giveupmore,,yntogetanextranxuthemoreMxHtheyhave・
B）giveupmore,ryntogetanextraHxMtheless'rxntheyhave.
C）settleforlessofboth"x"and"y".
D）acquiremoreHxnonlyiftheydonothavetogiveupanyHyn.
Answer:
B
Topic:
Preferences
11）MeasuringHyHontheverticalaxisandHxMonthehorizontalaxis,convexityofindifferencecurvesimpliesthattheMRSofny"for"x”
A）isdecreasingasHxnincreases.
B）isincreasingasnxHincreases・
C）isconstantasHxMincreases.
D）cannotbecalculatedforlargelevelsofHxn・
Answer:
A
Topic:
Preferences
12）Diminishingmarginalrateofsubstitutioncanbeseenwhenindifferencecurves
A）cross・
B）areconvex・
C）aredownwardsloping.
D）becomeflatteraswcmovedownandtotheright.
Answer:
D
Topic:
Preferences
13）Forwhichofthefollowingpairsofgoodswouldmostpeoplelikelyhaveconvexindifferencecurves?
A）nickelsanddimes
B）leftshoesandrightshoes
C）movieticketsandconcerttickets
D）Noneoftheabove.
Answer:
C
Topic:
Preferences
14）Iftwogoodsareperfectsubstitutes,thentheindifferencecurvesforthosetwogoodswouldbe
A）upwardslopingandconcavetotheorigin・
B）downwardslopingandconvextotheorigin.
C）downwardslopingandstraight.
D）L-shaped・
Answer:
C
Topic:
Preferences
15）Theindifferencecurvesforleftshoesandrightshoeswouldmostlikelybe
A）upwardslopingandconcavetotheorigin・
B）downwardslopingandconvextotheorigin.
C）downwardslopingandstraightlines・
D）L-shaped・
Answer:
D
Topic:
Preferences
Forthefollowing,pleaseanswernTrueuor91False"andexplainwhy.
16）Indifferencecurvescannotintersect.Answer:
True.Asseenintheabovefigure,pointsaandcareonthesameindifferencecurveandarethereforeequallypreferred・Pointsbandcarealsoonthesameindifferencecurveandarethereforeequallypreferred・Transitivityimpliesthattheconsumerwouldbeindifferentbetweenaandb;however,sincemoreispreferredtoless,aispreferredtob.Thus,asaresultoftheassumptionoftransitivityandtheassumptionthatmoreispreferredtoless,indifferencecurvescannotintersect・
Topic:
Preferences
17）Indiffereneecurvescannoteverbeconcavefortwogoods・
Answer:
False.Whileindifferencecurvesaretypicallyconvex,theycanbeconcave・Thismeans,however,thattheMRSofyforxincreasesasxincreases.Thatis,theconsumerplacesgreatervalueonthenextxthemorexshehas.Theinterpretationisthataconsumerwithconcaveindifferencecurvespreferstospecializeineitherxorybutnothaveamixofboth.
Topic:
Preferences
18）Indifferencecurvesforperfectsubstitutesmustbeparallellineswithaslopeofnegativeone.
Answer:
False.Indifferencecurvesforperfectsubstitutesareparallellines,buttheslopeisnotnecessarilynegativeone・
Topic:
Preferences
19）Indifferencecurvesonthesameindifferencemapcanhavedifferentshapes・
Answer:
True.Indifferencecurvescanmeetallthenecessaryrequirementsandstillhavedifferentshapes・Topic:
Preferences
20）Lisaviewspizzasandburritosasgoods・Ifsheprefersabundleof4burritosand4pizzastoabundleof4burritosand5pizzas,whichpropertyofconsumerpreferenceisviolated?
Whatchangeintheassumptionscouldleadarationalconsumertopreferthefirstbundle?
Answer:
Thepropertyofmore-is-betterisviolated.However,ifpizzaisabad,thenarationalconsumerwouldpreferthefirstbundle・
Topic:
Preferences
21）Explainwhymostindifferencecurvesareconvex・
Answer:
Diminishingmarginalratesofsubstitutionmakemostindifferencecurvesconvex.Whenpeoplehavealotofonegood,theyarewillingtogiveuparelativelylargeramountofiltogetagoodofwhichtheyhaverelativelylittle・
Topic:
Preferences
22）Drawtheindifferencecurvesforrockconcertsandfoodforeachofthefollowing:
（a）atypical17-ycar-old
（b）atypical75・year-old
Answer:
Rock
concerts
TypicalTeenager
Typical75YearOld
Seetheabovefigure・Thesegraphsassumethatatypical17-year-oldwouldenjoybothfoodandrockconcerts.The75-year-oldmightfindtherockconcertsneutralorevenbad・
Topic:
Preferences
23）Drawtheindifferencecurvesfornickelsanddimes.Wouldtheyeverhaveanon-constantslope?
Explain.
Answer:
Seetheabovefigure・TwonickelsareworthIdime.Yet,forextremelylargeamountsofmoney,peoplemightpreferdimestonickelsforcarryingpurposes・ThatiswhypeopleoftenpaywithexactchangeordoiVtliketobreakatwenty.
Topic:
Preferences
43BudgetConstraint
1）Joe'sincomeis$500,thepriceoffood（F）is$2perunit,andthepriceofshelter（S）is$100.Whichofthefollowingrepresentshisbudgetconstraint?
A）500=2F+100S
B）F=250-50S
C）S=5・・02F
D）Alloftheabove.
Answer:
D
Topic:
BudgetConstraint
2）Joe'sincomeis$500,thepriceoffood（F）is$2perunit,andthepriceofshelter（S）is$100.Whichofthefollowingrepresentshismarginalrateoftransformationoffoodforshelter?
A）-5
B）-50
C）-.02
D）Noneoftheabove.
Answer:
B
Topic:
BudgetConstraint
3）Joe'sincomeis$500,thepriceoffood（F）is$2perunit,andthepriceofshelter（S）is$100.Whichofthefollowingrepresentshisbudgetconstraint?
A）500=100F+2S〜
B）500=2F+100S
C）S=500-2F
D）Alloftheabove.
Answer:
B
Topic:
BudgetConstraint
4）Joe'sbudgetconstraintequals50（）=2F+100S,where$500isJoesincome,$2isthepriceoffood（F）and$100isthepriceofshelter（S）.HowmuchfoodcanJoebuyifhebuysoneunitofshelter?
A）2units
B）200units
C）250units
D）400units
Answer:
B
Topic:
BudgetConstraint
5）Joe'sincomeis$500.thepriceoffood（F）is$2,andthepriceofshelter（S）is$100.WhichofthefollowingbundlesisinJocrsopportunityset?
A）50unitsoffood,5unitsofshelter
B）200unitsoffood,2unitsofshelter
C）100unitsoffood,1unitofshelter
D）150unitsoffood,3unitsofshelter
Answer:
C
Topic:
BudgetConstraint
6）Themarginalrateoftransformationofyforxrepresents
A）theslopeofthebudgetconstraint.
B）therateatwhichtheconsumermustgiveupytogetonemorex.
C）M.「
D）Alloftheabove.
Answer:
D
Topic:
BudgetConstraint
7）Themarginalrateoftransformationofyforxrepresents
A）theslopeofthebudgetconstraint.
B）therateatwhichtheconsumermustgiveupxtogetonemorey.
C）-Py/Px.
D）Alloftheabove.
Answer:
A
Topic:
BudgetConstraint
8）Therateatwhichaconsumermustgiveupytogetonemorexisequalto
A）-Px/Py.
B）・Py/Px.
C）-MUX/MUy.
D）MUy/MUX.
Answer:
A
Topic:
BudgetConstraint
9）Bettyconsumesgoodxandgoody.Ifthepriceofx=$3andthepriceofy=$4,then
A）anextraunitofxcosts4/3unitsofy.
B）anextraunitofycosts4/3unitsofx.
C）anextraunitofxcosts3/4unitsofy.
D）BothBandC・
Answer:
D
Topic:
BudgetConstraint
10）Ifthepriceofonegoodincreaseswhilethepriceoftheothergoodandtheconsumer'sincomeremainunchanged,whatwillhappentothebudgetline?
A）Thebudgetlinerotatesinwardfromtheinterceptontheaxisofthegoodthatdidnotchangeinprice•
B）Thebudgetlinerotatesoutwardfromtheinterceptontheaxisofthegoodthatdidnotchangeinprice.
C）Thebudgetlineshiftsinwardwithoutachangeinslope・
D）Thebudgetlineshiftsoutwardwithoutachangeinslope・
Answer:
A
Topic:
BudgetConstraint
11）Lisaeatsbothpizzasandburritos・Ifthepriceofapizzaincreases,Lisa'sopportunityset
A）becomeslarger・
B）becomessmaller.
C）isunchanged・
D）cannotbedeterminedwithoutmoreinformation.
Answer:
B
Topic:
Bud
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