经济学课后习题答案.docx

经济学课后习题答案.docx

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经济学课后习题答案

ANSWERSTOQUESTIONSFORDISCUSSIONANDPROBLEMS

QUESTIONSFORDISCUSSION

1.AsrichasAmericais,howcanourresourcespossiblybe“scarce?

”

LO:

1AACSB:

AnalyticBT:

Apply

ManybelievethatAmericahasbecomerichbecauseoftheabundanceofournaturalresources.Othersbelieveourdemocraticpoliticalsystemorourmarket-driveneconomicsystemplaysignificantrolesinourrelativefinancialsuccess.Regardless,asrichasAmericais,westillwantmore.Theconceptofscarcity,inthecaseofAmerica,isthelackofenoughresourcestosatisfyallAmericanconsumerdesires.Therefore,resourcesarescarceintheU.S.becausethedesirefortheseresourcesisgreaterthantheamountwepossess.

2.Whatopportunitycostsdidyouincurinreadingthischapter?

LO:

2AACSB:

AnalyticBT:

Apply

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?

LO:

3AACSB:

AnalyticBT:

Apply

Therewasaspikeofanxietyin2008-09regardingtheabilityoftheU.S.economytocontinuouslycrankoutmoregoods.TodaymanyAmericansstillworryabouttheresiliencyofoureconomicsystemandourmanyresourcelimitations.Thegeneraldefinitionofeconomics–thestudyofhowbesttoallocatescarceresourcesamongcompetinguses–allowsforthepotentialofbrilliantmindstohelptheeconomycontinuetogrow.Additionalresources,newtechnologies,insightfulentrepreneurialstrategies,andgreatmindsworkingoneconomicdevelopmentprovidetremendoushopeforfuturegrowthinoureconomyandtheassociatedincreaseinourstandardofliving.

4.Whymightitbenecessarytoreduceconsumerspendinginordertoattainfastereconomicgrowth?

Woulditbeworththesacrifice?

LO:

2AACSB:

ReflectiveThinkingBT:

Create

Onechoiceanysocietymustmakeiswhethertouseitsresourcestoproduceconsumergoodsorwhethertoproducecapitalwiththosesameresources.Toincreaseeconomicgrowthitmaybenecessarytoproducemorecapital.Asaresult,itmaybenecessarytoreduceoutputofconsumergoodssoresourcesareavailabletoproducemorecapitalgoods.Whetheritisworththesacrificedependsonwhichonesocietyvaluesmore,currentconsumptionorfutureconsumption.

5.Inapurelyprivatemarketeconomy,howistheFORWHOMquestionanswered?

Isthatoptimal?

LO:

3AACSB:

ReflectiveThinkingBT:

Create

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?

LO:

3AACSB:

ReflectiveThinkingBT:

Create

NorthKoreadoesn’treduceitsmilitaryandputmoreresourcesintofoodproductionbecausetheNorthKoreangovernmentapparentlybelievesthatalargemilitaryestablishmentisessentialtotheirwell-beingandsecurity.Theoptimalmixof“guns”and“butter”dependsonvaluesand,therefore,theanswertothisquestionwilldependonthevaluesoftheindividualorinthiscase,thegovernmentansweringit.

7.Iftaxesontherichwereraisedtoprovidemorehousingforthepoor,howwouldthewillingnesstoworkbeaffected?

Whatwouldhappentototaloutput?

LO:

3AACSB:

AnalyticBT:

Analyze

Giventhestandardassumptionsaboutmarketparticipantreactions,wewouldexpectthatthosebeingtaxedmorewouldreconsidertheirchoicesbetweenworkandleisure.Sincetheirrewardforworkingwouldnowbeless（aftertaxes）theycouldbeexpectedtoworkless.Poorpeople,too,mightworklessiftheygetfreeorsubsidizedhousing.Changesintheworkincentivesfacingboththerichandthepoorwouldleadtolesstotaloutput.

8.Whatkindofknowledgemustcentralplannerspossesstomanageaneconomyefficiently?

LO:

4AACSB:

AnalyticBT:

Analyze

Acentralplannerwillmakeallthedecisionsforaneconomyincludingwhatgoodsareproduced,atwhatpricestheyaresold,andwhogetstohavethem.Forexample,acentralplannerplacesworkersatabreadfactory,tellsthemhowmuchbreadtobake,andspecifieswhoisallowedtoeatthisbread.TheWHAT,HOW,andFORWHOMoutcomesarealldirectedbythecentralgovernment（planner）.

Acentralplannerwouldneedtobeomniscientinordertomanageaneconomyefficiently.He/shewouldneedtoknowthedesiresofconsumers,consumerabilitytopay,productivityofinputs（suchascapitalandlabor）,andtechnologicalcapabilities.Itissimplyunreasonabletobelievethatacentralplannercouldeverhavesuchvastandcomprehensiveknowledge.

9.POLICYPERSPECTIVESWhycan’tweproduceatpointX2inFigure1.6?

Willweevergetthere?

LO:

5AACSB:

AnalyticBT:

Analyze

X2isbeyondtheresourcesavailableforproductionbecauseitisoutsideofthecurve.Theonlywaytogettherewouldbetoincreasetheresourcesavailable.

10.POLICYPERSPECTIVESWhatpublicsectororprivatesectoroutputwouldyoucutbackinordertomakemoreresourcesavailableforincreasedhealthcare?

LO:

2AACSB:

AnalyticBT:

Analyze

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

Topic:

ThreeBasicEconomicQuestions

AACSB:

Analytic

Blooms:

Level2Understand

2.Drawaproduction-possibilitiescurvebasedonTable1.1,labelingcombinationsA-F.Whatistheopportunitycostofincreasingmissileproduction

（a）From50to100?

（b）From0to150?

Answers:

（a）15houses

（b）45houses

Explanation:

（a）Theopportunitycostofincreasingproductionfrom50to100missilesisareductionintheproductionofhousesfrom90to75,oralossof15houses.

（b）Increasingmissileproductionfrom0missiles（pointA）to150missiles（pointD）resultsinalossintheproductionofhousesfrom100to55,or45houses.

LO01-02

Topic:

ThreeBasicEconomicQuestions

AACSB:

Analytic

Blooms:

Level3Apply

3.Assumethatittakessixhoursoflabortimetopaintaroomandthreehourstosandafloor.Ifall24hourswerespentpainting

（a）Howmanyroomscouldbepaintedbyoneworker?

（b）Ifadecisionweremadetosandtwofloors,howmanypaintedroomswouldhavetobegivenup?

（c）Illustratewithaproduction-possibilitiescurve.

Answers:

（a）4room（s）painted

（b）1room（s）painted

（c）

Explanation:

（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

Topic:

TheCentralProblemofScarcity

Topic:

ThreeBasicEconomicQuestions

AACSB:

Analytic

Blooms:

Level4Analyze

4.Supposeittakes4hoursoflabortimetohangsheetrockinaroomand2hourstotapeandplasterawall.Ifonepersonspentanentire8hourdayhangingsheetrock,

（a）Howmanyroomscouldbehung?

（b）Illustratewithaproduction-possibilitiescurve.

（c）Ifanotherworkerbecameavailableforan8hourworkday,illustratetheresultingchangeinproductionpossibilities.

Answers:

（a）2roomshung

（b）&（c）

Explanation:

（a）Ifittakes4hourstohangsheetrockinaroomandaworkerspendsanentire8hourworkdaydoingthis,2roomscanbecompletedwithinthistime.

（b）Oneworkercanuseallofhisorher8hourdayandhangeither2roomsofsheetrockor4wallsoftapeandplaster.Thus,thetwoendpointsare0walls–2rooms（0,2）and4walls–0rooms（4,0）.

（c）Withtwoworkerseachputtinginan8hourworkday,theproduction-possibilitiescurvewouldshifttotheright（andinfactd