经济学课后习题答案文档格式.docx
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2.Whatopportunitycostsdidyouincurinreadingthischapter?
2AACSB:
Therearemanyotherthingsyoucouldhavedonewithyourtimeinsteadofreadingthischapter.Themostdesiredactivityyougaveupistheopportunitycost.
(你有时间可以做许多其他的事情而不是阅读本章。
你放弃了你最想做的活动就是机会成本。
)
3.HowwouldyouanswerthequestionintheNewsWireonpage5?
Why?
3AACSB:
Therewasaspikeofanxietyin2008-09regardingtheabilityoftheU.S.economytocontinuouslycrankoutmoregoods.TodaymanyAmericansstillworryabouttheresiliencyofoureconomicsystemandourmanyresourcelimitations.Thegeneraldefinitionofeconomics–thestudyofhowbesttoallocatescarceresourcesamongcompetinguses–allowsforthepotentialofbrilliantmindstohelptheeconomycontinuetogrow.Additionalresources,newtechnologies,insightfulentrepreneurialstrategies,andgreatmindsworkingoneconomicdevelopmentprovidetremendoushopeforfuturegrowthinoureconomyandtheassociatedincreaseinourstandardofliving.
4.Whymightitbenecessarytoreduceconsumerspendinginordertoattainfastereconomicgrowth?
Woulditbeworththesacrifice?
ReflectiveThinkingBT:
Create
Onechoiceanysocietymustmakeiswhethertouseitsresourcestoproduceconsumergoodsorwhethertoproducecapitalwiththosesameresources.Toincreaseeconomicgrowthitmaybenecessarytoproducemorecapital.Asaresult,itmaybenecessarytoreduceoutputofconsumergoodssoresourcesareavailabletoproducemorecapitalgoods.Whetheritisworththesacrificedependsonwhichonesocietyvaluesmore,currentconsumptionorfutureconsumption.
5.Inapurelyprivatemarketeconomy,howistheFORWHOMquestionanswered?
Isthatoptimal?
FORWHOM?
isoneofthethreebasiceconomicsquestions.Theothertwoquestionsdeterminehowlargeofaneconomicpietobake(WHAT?
)andhowwewillbakeit(HOW?
).ThisFORWHOMquestiondealswithhowtoslicethepie.Shouldsomegetlargerorsmallerslicesthanothers?
Thefocusisonhowaneconomy’soutputisdistributedacrossmembersofsociety.
Inapurelyprivatemarketeconomy,thosewhoarewillingandabletopurchaseasliceofpiewillreceivetheslice.Marketsareefficient;
however,neithermarketsnorgovernmentsalwayshavetherightanswers.Therearecertainlytimes(marketfailure)whenthemarketgeneratessuboptimaleconomicoutcomes.
6.Whydoesn’tNorthKoreareduceitsmilitaryandputmoreresourcesintofoodproduction(NewsWire,p.11)?
Whatistheoptimalmixof“guns”and“butter”foranation?
NorthKoreadoesn’treduceitsmilitaryandputmoreresourcesintofoodproductionbecausetheNorthKoreangovernmentapparentlybelievesthatalargemilitaryestablishmentisessentialtotheirwell-beingandsecurity.Theoptimalmixof“guns”and“butter”dependsonvaluesand,therefore,theanswertothisquestionwilldependonthevaluesoftheindividualorinthiscase,thegovernmentansweringit.
7.Iftaxesontherichwereraisedtoprovidemorehousingforthepoor,howwouldthewillingnesstoworkbeaffected?
Whatwouldhappentototaloutput?
AnalyticBT:
Analyze
Giventhestandardassumptionsaboutmarketparticipantreactions,wewouldexpectthatthosebeingtaxedmorewouldreconsidertheirchoicesbetweenworkandleisure.Sincetheirrewardforworkingwouldnowbeless(aftertaxes)theycouldbeexpectedtoworkless.Poorpeople,too,mightworklessiftheygetfreeorsubsidizedhousing.Changesintheworkincentivesfacingboththerichandthepoorwouldleadtolesstotaloutput.
8.Whatkindofknowledgemustcentralplannerspossesstomanageaneconomyefficiently?
4AACSB:
Acentralplannerwillmakeallthedecisionsforaneconomyincludingwhatgoodsareproduced,atwhatpricestheyaresold,andwhogetstohavethem.Forexample,acentralplannerplacesworkersatabreadfactory,tellsthemhowmuchbreadtobake,andspecifieswhoisallowedtoeatthisbread.TheWHAT,HOW,andFORWHOMoutcomesarealldirectedbythecentralgovernment(planner).
Acentralplannerwouldneedtobeomniscientinordertomanageaneconomyefficiently.He/shewouldneedtoknowthedesiresofconsumers,consumerabilitytopay,productivityofinputs(suchascapitalandlabor),andtechnologicalcapabilities.Itissimplyunreasonabletobelievethatacentralplannercouldeverhavesuchvastandcomprehensiveknowledge.
9.POLICYPERSPECTIVESWhycan’tweproduceatpointX2inFigure1.6?
Willweevergetthere?
5AACSB:
X2isbeyondtheresourcesavailableforproductionbecauseitisoutsideofthecurve.Theonlywaytogettherewouldbetoincreasetheresourcesavailable.
10.POLICYPERSPECTIVESWhatpublicsectororprivatesectoroutputwouldyoucutbackinordertomakemoreresourcesavailableforincreasedhealthcare?
Everyonewantsmoreandbetterhealthcare,andnearlyeveryoneagreesthateventhepoorestmembersofsocietyneedreliableaccesstodoctorsandhospitals.Yet,theresourcesusedtoexpandhealthcareservicescouldbeusedtoproducesomethingelse.Theopportunitycostsofexpandedhealthcarearetheothergoodswecouldhaveproduced(andconsumed)withthesameresources.Theseothergoodsincludemilitaryspending,educationspending,infrastructure(roads,internet,sewage)development,andpoliceprotection,justtonameafew.
PROBLEMS
1.AccordingtoFigure1.1,whatisthepeacedividend(releasingresourcesfrommilitarypurposes)fromreducingmilitaryoutputfrom0Gto0E?
Answer:
0D–0F
Explanation:
InFigure1.1,themovefrom0Gto0EalongthemilitarygoodsaxismovestheeconomyfrompointXtopointContheproductionpossibilitiescurve.Asaresult,theeconomywillmovefrom0Fto0Dandgainadditionalconsumergoods.
(从0G到0E沿轴移动的军事物资经济从X点到C点在生产可能性曲线的移动。
因此,经济将从中获得更多的消费品.)
LO01-02
Topic:
TheCentralProblemofScarcity
ThreeBasicEconomicQuestions
AACSB:
Analytic
Blooms:
Level2Understand
2.Drawaproduction-possibilitiescurvebasedonTable1.1,labelingcombinationsA-F.Whatistheopportunitycostofincreasingmissileproduction
(a)From50to100?
(b)From0to150?
Answers:
(a)15houses
(b)45houses
(a)Theopportunitycostofincreasingproductionfrom50to100missilesisareductionintheproductionofhousesfrom90to75,oralossof15houses.
(b)Increasingmissileproductionfrom0missiles(pointA)to150missiles(pointD)resultsinalossintheproductionofhousesfrom100to55,or45houses.
ThreeBasicEconomicQuestions
Level3Apply
3.Assumethatittakessixhoursoflabortimetopaintaroomandthreehourstosandafloor.Ifall24hourswerespentpainting
(a)Howmanyroomscouldbepaintedbyoneworker?
(b)Ifadecisionweremadetosandtwofloors,howmanypaintedroomswouldhavetobegivenup?
(c)Illustratewithaproduction-possibilitiescurve.
(a)4room(s)painted
(b)1room(s)painted
(c)
(a)Ifaworkerspends24hourspaintingroomsandhe/shecanpaintoneroomin6hoursthenthisworkercanpaint4rooms(=24hours/6hoursperroom).
(b)Becauseittakes3hourstosand1floor,itwouldtakeaworker6hourstosand2floors.Therefore,aworkermustgiveuppainting1room,whichalsotakes6hourstocomplete.
(c)Thevariousproductionpossibilitiesareplottedwith“RoomsPainted”ontheverticalaxisand“FloorsSanded”onthehorizontalaxis.Thus,ifaworkerspendsallofhis/hertimepainting,4roomscanbepainted(0,4).Ontheotherhand,ifaworkerspendsallofhis/hertimesanding,8floorscanbesanded(8,0).Thethreealternativepointsinbetweenthosetwoextremesare(2,3),(4,2),and(6,1).
LO01-01
Level4Analyze
4.Supposeittakes4hoursoflabortimetohangsheetrockinaroomand2hourstotapeandplasterawall.Ifonepersonspentanentire8hourdayhangingsheetrock,
(a)Howmanyroomscouldbehung?
(b)Illustratewithaproduction-possibilitiescurve.
(c)Ifanotherworkerbecameavailableforan8hourworkday,illustratetheresultingchangeinproductionpossibilities.
(a)2roomshung
(b)&
(c)
(a)Ifittakes4hourstohangsheetrockinaroomandaworkerspendsanentire8hourworkdaydoingthis,2roomscanbecompletedwithinthistime.
(b)Oneworkercanuseallofhisorher8hourdayandhangeither2roomsofsheetrockor4wallsoftapeandplaster.Thus,thetwoendpointsare0walls–2rooms(0,2)and4walls–0rooms(4,0).
(c)Withtwoworkerseachputtinginan8hourworkday,theproduction-possibilitiescurvewouldshifttotheright(andinfactd