曼昆微观经济学英文版课后练习题第一章.docx

曼昆微观经济学英文版课后练习题第一章.docx

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曼昆微观经济学英文版课后练习题第一章

Chapter1

MultipleChoice

1.ThewordthatcomesfromtheGreekwordfor"onewhomanagesahousehold"is

a.market.

b.consumer.

c.producer.

d.economy.

ANS:

DDIF:

1REF:

1-0

TOP:

EconomyMSC:

Definitional

2.Theword“economy”comesfromtheGreekwordoikonomos,whichmeans

a.“environment.”

b.“production.”

c.“onewhomanagesahousehold.”

d.“onewhomakesdecisions.”

ANS:

CDIF:

1REF:

1-0

TOP:

EconomyMSC:

Definitional

3.Resourcesare

a.scarceforhouseholdsbutplentifulforeconomies.

b.plentifulforhouseholdsbutscarceforeconomies.

c.scarceforhouseholdsandscarceforeconomies.

d.plentifulforhouseholdsandplentifulforeconomies.

ANS:

CDIF:

1REF:

1-0

TOP:

Resources,ScarcityMSC:

Interpretive

4.Economicsdealsprimarilywiththeconceptof

a.scarcity.

b.poverty.

c.change.

d.power.

ANS:

ADIF:

1REF:

1-0

TOP:

ScarcityMSC:

Definitional

5.Whichofthefollowingquestionsisnotansweredbythedecisionsthateverysocietymustmake?

a.Whatdeterminesconsumerpreferences?

b.Whatgoodswillbeproduced?

c.Whowillproducethegoods?

d.Whowillconsumethegoods?

ANS:

ADIF:

2REF:

1-0

TOP:

EconomiesMSC:

Interpretive

6.Theoverridingreasonastowhyhouseholdsandsocietiesfacemanydecisionsisthat

a.resourcesarescarce.

b.goodsandservicesarenotscarce.

c.incomesfluctuatewithbusinesscycles.

d.people,bynature,tendtodisagree.

ANS:

ADIF:

2REF:

1-0

TOP:

ScarcityMSC:

Interpretive

7.Thephenomenonofscarcitystemsfromthefactthat

a.mosteconomies’productionmethodsarenotverygood.

b.inmosteconomies,wealthypeopleconsumedisproportionatequantitiesofgoodsandservices.

c.governmentsrestrictsproductionoftoomanygoodsandservices.

d.resourcesarelimited.

ANS:

DDIF:

2REF:

1-0

TOP:

ScarcityMSC:

Interpretive

8.Approximatelywhatpercentageoftheworld'seconomiesexperiencescarcity?

a.25%

b.50%

c.75%

d.100%

ANS:

DDIF:

1REF:

1-0

TOP:

ScarcityMSC:

Interpretive

9.Whenasocietycannotproduceallthegoodsandservicespeoplewishtohave,itissaidthattheeconomyisexperiencing

a.scarcity.

b.shortages.

c.inefficiencies.

d.inequities.

ANS:

ADIF:

2REF:

1-0

TOP:

ScarcityMSC:

Interpretive

10.Forsociety,agoodisnotscarceif

a.atleastoneindividualinsocietycanobtainallheorshewantsofthegood.

b.firmsareproducingthegoodatfullcapacity.

c.allmembersofsocietycanhavealltheywantofthegood.

d.thosewhohaveenoughincomecanbuyalltheywantofthegood.

ANS:

CDIF:

1REF:

1-0

TOP:

ScarcityMSC:

Interpretive

11.Whichofthefollowingproductswouldbeconsideredscarce?

a.golfclubs

b.Picassopaintings

c.apples

d.Alloftheabovearecorrect.

ANS:

DDIF:

2REF:

1-0

TOP:

ScarcityMSC:

Interpretive

12.Economicsisthestudyof

a.productionmethods.

b.howsocietymanagesitsscarceresources.

c.howhouseholdsdecidewhoperformswhichtasks.

d.theinteractionofbusinessandgovernment.

ANS:

BDIF:

1REF:

1-0

TOP:

Economies,ScarcityMSC:

Definitional

13.Economicsisthestudyof

a.howsocietymanagesitsscarceresources.

b.thegovernment'sroleinsociety.

c.howamarketsystemfunctions.

d.howtoincreaseproduction.

ANS:

ADIF:

1REF:

1-0

TOP:

Economies,ScarcityMSC:

Definitional

14.Inmostsocieties,resourcesareallocatedby

a.asinglecentralplanner.

b.asmallnumberofcentralplanners.

c.thosefirmsthatuseresourcestoprovidegoodsandservices.

d.thecombinedactionsofmillionsofhouseholdsandfirms.

ANS:

DDIF:

1REF:

1-0

TOP:

ResourceallocationMSC:

Interpretive

15.Theadage,"Thereisnosuchthingasafreelunch,"isusedtoillustratetheprinciplethat

a.goodsarescarce.

b.peoplefacetradeoffs.

c.incomemustbeearned.

d.householdsfacemanydecisions.

ANS:

BDIF:

2REF:

1-1

TOP:

TradeoffsMSC:

Interpretive

16.Theadage,"Thereisnosuchthingasafreelunch,"means

a.evenpeopleonwelfarehavetopayforfood.

b.thecostoflivingisalwaysincreasing.

c.togetsomethingwelike,weusuallyhavetogiveupanotherthingwelike.

d.allcostsareincludedinthepriceofaproduct.

ANS:

CDIF:

1REF:

1-1

TOP:

TradeoffsMSC:

Definitional

17.Economistsusethephrase"Thereisnosuchthingasafreelunch,"toillustratetheprinciplethat

a.inflationalmostalwaysresultsinhigherpricesovertime.

b.nothingisfreeinamarketeconomy.

c.makingdecisionsrequirestradingoffonegoalagainstanother.

d.ifsomethinglookstoogoodtobetrue,itprobablyisnotworthpursuing.

ANS:

CDIF:

2REF:

1-1

TOP:

TradeoffsMSC:

Interpretive

18.Whichofthefollowingstatementsbestrepresentstheprinciplerepresentedbytheadage,"Thereisnosuchthingasafreelunch"?

a.Melissacanattendtheconcertonlyifshetakeshersisterwithher.

b.Gregishungryandhomeless.

c.Brianmustrepairthetireonhisbikebeforehecanrideittoclass.

d.KendramustdecidebetweengoingtoColoradoorCancunforspringbreak.

ANS:

DDIF:

3REF:

1-1

TOP:

TradeoffsMSC:

Applicative

19.Theprinciplethat"peoplefacetradeoffs"appliesto

a.individuals.

b.families.

c.societies.

d.Alloftheabovearecorrect.

ANS:

DDIF:

1REF:

1-1

TOP:

TradeoffsMSC:

Applicative

20.Atypicalsocietystrivestogetthemostitcanfromitsscarceresources.Atthesametime,thesocietyattemptstodistributethebenefitsofthoseresourcestothemembersofthesocietyinafairmanner.Inotherwords,thesocietyfacesatradeoffbetween

a.gunsandbutter.

b.efficiencyandequity.

c.inflationandunemployment.

d.workandleisure.

ANS:

BDIF:

1REF:

1-1

TOP:

Efficiency,EquityMSC:

Interpretive

21.Gunsandbutterareusedtorepresenttheclassicsocietaltradeoffbetweenspendingon

a.durableandnondurablegoods.

b.importsandexports.

c.nationaldefenseandconsumergoods.

d.lawenforcementandagriculture.

ANS:

CDIF:

1REF:

1-1

TOP:

TradeoffsMSC:

Interpretive

22.Whensocietyrequiresthatfirmsreducepollution,thereis

a.atradeoffbecauseofreducedincomestothefirms'ownersandworkers.

b.atradeoffonlyifsomefirmsareforcedtoclose.

c.notradeoff,sincethecostofreducingpollutionfallsonlyonthefirmsaffectedbytherequirements.

d.notradeoff,sinceeveryonebenefitsfromreducedpollution.

ANS:

ADIF:

3REF:

1-1

TOP:

TradeoffsMSC:

Applicative

23.Atradeoffexistsbetweenacleanenvironmentandahigherlevelofincomeinthat

a.studiesshowthatindividualswithhigherlevelsofincomeactuallypollutelessthanlow-incomeindividuals.

b.effortstoreducepollutiontypicallyarenotcompletelysuccessful.

c.lawsthatreducepollutionraisecostsofproductionandreduceincomes.

d.byemployingindividualstocleanuppollution,employmentandincomebothrise.

ANS:

CDIF:

2REF:

1-1

TOP:

TradeoffsMSC:

Applicative

24.Whichofthefollowingphrasesbestcapturesthenotionofefficiency?

a.absolutefairness

b.equaldistribution

c.minimumwaste

d.equitableoutcome

ANS:

CDIF:

1REF:

1-1

TOP:

EfficiencyMSC:

Interpretive

25.Whichofthefollowingistrue?

a.Efficiencyreferstothesizeoftheeconomicpie;equityreferstohowthepieisdivided.

b.Governmentpoliciesusuallyimproveuponbothequityandefficiency.

c.Aslongastheeconomicpiecontinuallygetslarger,noonewillhavetogohungry.

d.Efficiencyandequitycanbothbeachievediftheeconomicpieiscutintoequalpieces.

ANS:

ADIF:

2REF:

1-1

TOP:

Efficiency,EquityMSC:

Interpretive

26.Efficiencymeansthat

a.societyisconservingresourcesinordertosavethemforthefuture.

b.society'sgoodsandservicesaredistributedequallyamongsociety'smembers.

c.society'sgoodsandservicesaredistributedfairly,thoughnotnecessarilyequally,amongsociety'smembers.

d.societyisgettingthemaximumbenefitsfromitsscarceresources.

ANS:

DDIF:

1REF:

1-1

TOP:

EfficiencyMSC:

Definitional

27.Economistsusethewordequitytodescribeasituationinwhich

a.eachmemberofsocietyhasthesameincome.

b.eachmemberofsocietyhasaccesstoabundantquantitiesofgoodsandservices,regardlessofhisorherincome.

c.societyisgettingthemaximumbenefitsfromitsscarceresources.

d.thebenefitsofsociety'sresourcesaredistributedfairlyamongsociety'smembers.

ANS:

DDIF:

2REF:

1-1

TOP:

EquityMSC:

Interpretive

28.SenatorSmithwantstoincreasetaxesonpeoplewithhighincomesandusethemoneytohelpthepoor.SenatorJonesarguesthatsuchataxwilldiscouragesuccessfulpeoplefromworkingandwillthereforemakesocietyworseoff.Aneconomistwouldsaythat

a.weshouldagreewithSenatorSmith.

b.weshouldagreewithSenatorJones.

c.agooddecisionrequiresthatwerecognizebothviewpoints.

d.therearenotradeoffsbetweenequityandefficiency.

ANS:

CDIF:

2REF:

1-1

TOP:

Efficiency,EquityMSC:

Applicative

29.Whichofthefollowingwordsandphrasesbestcapturesthenotionofequity?

a.minimumwaste

b.maximumbenefit

c.sameness

d.fairness

ANS:

DDIF:

1REF:

1-1

TOP:

EquityMSC:

Definitional

30.Whengovernmentpoliciesareenacted,

a.equitycanusuallybeenhancedwithoutanefficiencyloss,butefficiencycanneverbeenhancedwithoutanequityloss.

b.efficiencycanusuallybeenhancedwithoutanequityloss,butequitycanneverbeenhancedwithoutanefficiencyloss.

c.itisalwaysthecasethateitherefficiencyandfairnessarebothenhanced,orefficiencyandequityarebothdiminished.

d.Noneoftheabovearecorrect.

ANS:

DDIF:

2REF:

1-1

TOP:

Government,Efficiency,EquityMSC:

Applicative

31.Alikelyeffectofgovernmentpoliciesthatredistributeincomeandwealthfromthewealthytothepooristh