微观经济学的练习题以及答案英文版.docx

微观经济学的练习题以及答案英文版.docx

《微观经济学的练习题以及答案英文版.docx》由会员分享，可在线阅读，更多相关《微观经济学的练习题以及答案英文版.docx（121页珍藏版）》请在冰豆网上搜索。

微观经济学的练习题以及答案英文版

Chapter01

ThinkingLikeanEconomist

MultipleChoiceQuestions

1. Economicsisbestdefinedasthestudyof:

A. pricesandquantities.

B. inflationandinterestrates.

C. howpeoplemakechoicesundertheconditionsofscarcityandtheresultsofthosechoices.

D. wagesandincomes.

2. Economicquestionsalwaysdealwith:

A. financialmatters.

B. politicalmatters.

C. insufficientresources.

D. choiceinthefaceoflimitedresources.

3. Therangeoftopicsorissuesthatfitwithinthedefinitionofeconomicsis:

A. limitedtomarketactivities,e.g.,buyingsoap.

B. limitedtoindividualsandfirms.

C. extremelywide,requiringonlytheideasofchoiceandscarcity.

D. verylimited.

4. Thecentralconcernofeconomicsis:

A. poverty.

B. scarcity.

C. wealthaccumulation.

D. overconsumption.

5. Thescarcityprincipleindicatesthat:

A. nomatterhowmuchonehas,itisneverenough.

B. comparedto100yearsago,individualshavelesstimetoday.

C. withlimitedresources,havingmoreof"this"meanshavinglessof"that."

D. becausetradeoffsmustbemade,resourcesarethereforescarce.

6. Thelogicalimplicationofthescarcityprincipleisthat:

A. onewillneverbesatisfiedwithwhatonehas.

B. aswealthincreases,makingchoicesbecomeslessnecessary.

C. aswealthdecreases,makingchoicesbecomeslessnecessary.

D. choicesmustbemade.

7. Ifalltheworld'sresourcesweretomagicallyincreaseahundredfold,then:

A. thescarcityprinciplewouldstillgovernbehavior.

B. economicswouldnolongerberelevant.

C. thescarcityprinciplewoulddisappear.

D. tradeoffswouldbecomeunnecessary.

8. Theprincipleofscarcityappliesto:

A. thepoorexclusively.

B. allconsumers.

C. allfirms.

D. everyone—consumers,firms,governments,andnations.

9. Attheveryleast,JoeAverageandBillGatesarebothidenticallylimitedby:

A. theirwealth.

B. the24hoursthatcompriseaday.

C. theirknowledge.

D. theirinfluence.

10. ForestisamountainmanlivingincompleteisolationinMontana.Heiscompletelyself-sufficientthroughhunting,fishing,andfarming.Hehasnotbeeninthecitytobuyanythinginfiveyears.Onecaninfer:

A. thescarcityprincipledoesnotapplytoForest.

B. Forestisnotrequiredtomakechoices.

C. thescarcityprinciplestillappliesbecausemorehuntingmeanslessfishingandfarming.

D. Forestisverysatisfied.

11. Thescarcityprincipleappliesto:

A. alldecisions.

B. onlymarketdecisions,e.g.,buyingacar.

C. onlynon-marketdecisions,e.g.,watchingasunset.

D. onlythepoor.

12. Chrishasaone-hourbreakbetweenclasseseveryWednesday.Chriscaneitherstayatthelibraryandstudyorgotothegymandworkout.ThedecisionChrismustmakeis:

A. notaneconomicproblembecauseneitheronecostsmoney.

B. notaneconomicproblembecauseit'sanhourthatiswastednomatterwhatChrisdoes.

C. aneconomicproblembecausethetuitionChrispayscoversboththegymandthelibrary.

D. aneconomicproblembecauseChrishasonlyonehourduringwhichhecanstudyorworkout.

13. Joshwantstogotothefootballgamethisweekend,buthehasapaperdueonMonday.Itwilltakehimthewholeweekendtowritethepaper.Joshdecidedtostayhomeandworkonthepaper.Accordingtothescarcityprinciple,thereasonJoshdidn'tgotothegameisthat:

A. Joshprefersschoolworktofootballgames.

B. writingthepaperiseasierthangoingtothegame.

C. Joshdoesn'thaveenoughtimeforwritingthepaperandgoingtothegame.

D. it'stooexpensivetogotothegame.

14. WhetherstudyingthesizeoftheU.S.economyorthenumberofchildrenacouplewillchoosetohave,theunifyingconceptisthatwantsare:

A. limited,resourcesarelimited,andthuschoicesmustbemade.

B. unlimited,resourcesarelimited,andthuschoicesmustbemade.

C. unlimited,resourcesarelimitedtosomebutnottoothers,andthussomepeoplemustmakechoices.

D. unlimited,resourcesarelimited,andthusgovernmentneedstodomore.

15. Thecost-benefitprincipleindicatesthatanactionshouldbetaken:

A. ifthetotalbenefitsexceedthetotalcosts.

B. iftheaveragebenefitsexceedtheaveragecosts.

C. ifthenetbenefit（benefitminuscost）iszero.

D. iftheextrabenefitisgreaterthanorequaltotheextracosts.

16. Whenapersondecidestopursueanactivityaslongastheextrabenefitsareatleastequaltotheextracosts,thatpersonis:

A. violatingthecost-benefitprinciple.

B. followingthescarcityprinciple.

C. followingthecost-benefitprinciple.

D. pursuingtheactivitytoolong.

17. Choosingtostudyforanexamuntiltheextrabenefit（improvedscore）equalstheextracost（mentalfatigue）is:

A. notrational.

B. anapplicationofthecost-benefitprinciple.

C. anapplicationofthescarcityprinciple.

D. therelevantopportunitycost.

18. Thescarcityprincipletellsusthat__________,andthecost-benefitprincipletellsus__________. 

A. choicesmustbemade;howtomakethechoices

B. choicesmustbemade;thatthecostscanneveroutweighthebenefitsofthechoices

C. raregoodsareexpensive;thatthecostsshouldoutweighthebenefitsofthechoices

D. raregoodsareexpensive;thatthecostscanneveroutweighthebenefitsofthechoices

19. Accordingtothecost-benefitprinciple:

A. thelowestcostactivityusuallygivesthelowestbenefit.

B. apersonshouldalwayschoosetheactivitywiththelowestcost.

C. apersonshouldalwayschoosetheactivitywiththegreatestbenefit.

D. theextracostsandbenefitsofanactivityaremoreimportantconsiderationsthanthetotalcostsandbenefits.

20. Arationalpersonisonewho:

A. isreasonable.

B. makeschoicesthatareeasilyunderstood.

C. possesseswell-definedgoalsandseekstoachievethem.

D. ishighlycynical.

21. TheseventhglassofsodathatTimconsumeswillproduceanextrabenefitof10centsandhasanextracostofzero（Timiseatingatthecafeteria）.Thecost-benefitprinciplepredictsthatTimwill:

A. realizehehashadtoomuchsodatodrinkandgohome.

B. drinktheseventhglassandcontinueuntilthemarginalbenefitofdrinkinganotherglassofsodaiszero.

C. volunteertoemptyoutthefountain.

D. notdrinktheseventhglass.

22. Janiemusteithermowthelawnorwashclothes,earningherabenefitof$30or$45,respectively.Shedislikesbothequallyandtheybothtakethesameamountoftime.Janiewillthereforechooseto_________becausetheeconomicsurplusis________. 

A. mowthelawn;greater

B. washclothes;greater

C. mowthelawn;smaller

D. washclothes;smaller

23. Deandecidedtoplaygolfratherthanpreparefortomorrow'sexamineconomics.Onecaninferthat:

A. Deanhasmadeanirrationalchoice.

B. Deanisdoingpoorlyinhiseconomicsclass.

C. theeconomicsurplusfromplayinggolfexceededthesurplusfromstudying.

D. thecostofstudyingwaslessthanthecostofgolfing.

 Larrywasacceptedatthreedifferentgraduateschools,andmustchooseone.EliteUcosts$50,000peryearanddidnotofferLarryanyfinancialaid.LarryvaluesattendingEliteUat$60,000peryear.StateCollegecosts$30,000peryear,andofferedLarryanannual$10,000scholarship.LarryvaluesattendingStateCollegeat$40,000peryear.NoNameUcosts$20,000peryear,andofferedLarryafull$20,000annualscholarship.LarryvaluesattendingNoNameat$15,000peryear.

24. TheopportunitycostofattendingEliteUis:

A. $50,000

B. $10,000

C. $20,000

D. $15,000

25. TheopportunitycostofattendingStateCollegeis:

A. $30,000

B. $20,000

C. $15,000

D. $10,000

26. Larrymaximizeshissurplusbyattending:

A. EliteU,because$60,000isgreaterthanthebenefitattheotherschools.

B. StateCollege,becausethedifferencebetweenthebenefitandcostisgreatestthere.

C. NoNameU,becauseLarryhasafullscholarshipthere.

D. EliteU,becausetheopportunitycostsofattendingEliteUarethelowest.

27. LarryhasdecidedtogotoEliteU.Assumingthatallofthevaluesdescribedarecorrect,forLarrytodecideonEliteU,hemusthave:

A. calculatedhissurplusfromeachchoiceandpickedtheonewiththehighestsurplus.

B. underestimatedthebenefitsofattendingNoName.

C. miscalculatedthesurplusofattendingEliteU.

D. determinedtheopportunitycostofeachchoiceandpickedtheonewiththelowestopportunitycost.

28. Jenspendsherafternoonatthebeach,paying$1torentabeachumbrellaand$11forfoodanddrinksratherthanspendinganequalamountofmoneytogotoamovie.Theopportunitycostofgoingtothebeachis:

A. the$12shespentontheumbrella,foodanddrinks.

B. only$1becauseshewouldhavespentthemoneyonfoodanddrinkswhetherornotshewenttothebeach.

C. themovieshemissedseeing.

D. themovieshemissedseeingplusthe$12shespentontheumbrella,foodanddrinks.

29. Relativetoapersonwhoearnsminimumwage,apersonwhoearns$30perhourhas:

A. aloweropportunitycostofworkinglongerhours.

B. ahigheropportunitycostoftakingadayoff.

C. aloweropportunitycostofdrivingfarthertowork.

D. thesameopportunitycostofspendingtimeonleisureactivities.

30. Theopportunitycostofanactivityisthevalueof:

A. analternativeforgone.

B. thenext-bestalternativeforgone.

C. theleast-bestalternativeforgone.

D. thedifferencebetweenthechosenactivityandthenext-bestalternativeforgone.

31. Amyisthinkingaboutgoingtothemoviestonight.Aticketcosts$7andshewillhavetocancelherdog-sittingjobthatpays$30.Thecostofseeingthemovieis:

A. $7.

B. $30.

C.