经济学原理对应练习 21.docx

1、经济学原理对应练习 21Chapter 21Multiple Choice 1. The theory of consumer choice provides the foundation for understandinga. the structure of a firm.b. the profitability of a firm.c. a firms product demand.d. a firms product supply.ANS: C PTS: 1 DIF: 1 REF: 21-0TOP: Consumer choice MSC: Definitional 2. The th

2、eory of consumer choice examinesa. the determination of output in competitive markets.b. the tradeoffs inherent in decisions made by consumers.c. how consumers select inputs into manufacturing production processes.d. the determination of prices in competitive markets.ANS: B PTS: 1 DIF: 1 REF: 21-0TO

3、P: Consumer choice MSC: Definitional 3. Consider two goods, books and hamburgers. The slope of the consumers budget constraint is measured by thea. consumers income divided by the price of hamburgers.b. relative price of books and hamburgers.c. consumers marginal rate of substitution.d. number of bo

4、oks purchased divided by the number of hamburgers purchased.ANS: B PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Interpretive 4. If a consumers income decreases, the budget constraint for CDs and DVDs willa. shift outward, parallel to the original budget constraint.b. shift inward, parallel to

5、the original budget constraint.c. rotate outward along the CD axis because we can afford more CDs.d. rotate outward along the DVD axis because we can afford more DVDs.ANS: B PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Analytical 5. If the relative price of a concert ticket is 3 times the pric

6、e of a meal at a good restaurant, then the opportunity cost of a concert ticket can be measured by thea. slope of the budget constraint.b. slope of an indifference curve.c. marginal rate of substitution.d. income effect.ANS: A PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Analytical 6. When the

7、 price of a shirt falls, thea. quantity of shirts demanded falls.b. quantity of shirts demanded rises.c. quantity of shirts supplied rises.d. demand for shirts falls.ANS: B PTS: 1 DIF: 1 REF: 21-1TOP: Demand MSC: Analytical 7. A budget constrainta. shows the prices that a consumer chooses to pay for

8、 products he consumes.b. shows the purchases made by consumers.c. shows the consumption bundles that a consumer can afford.d. represents the consumption bundles that give a consumer equal satisfaction.ANS: C PTS: 1 DIF: 1 REF: 21-1TOP: Budget constraint MSC: Definitional 8. Assume that a college stu

9、dent spends her income on books and pizza. The price of a pizza is $8.00, and the price of a book is $15. If she has $100 of income, she could choose to consumea. 8 pizzas and 4 books.b. 4 pizzas and 5 books.c. 9 pizzas and 3 books.d. 4 pizzas and 3 books.ANS: D PTS: 1 DIF: 2 REF: 21-1TOP: Budget co

10、nstraint MSC: Applicative 9. Assume that a college student spends her income on mac-n-cheese and CDs. The price of one box of mac-n-cheese is $1.00, and the price of one CD is $12.00. If she has $100 of income, she could choose to consumea. 15 boxes of mac-n-cheese and 6 CDs.b. 20 boxes of mac-n-che

11、ese and 7 CDs.c. 10 boxes of mac-n-cheese and 8 CDs.d. 30 boxes of mac-n-cheese and 6 CDs.ANS: A PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Applicative 10. A consumer that doesnt spend all of her incomea. would be at a point outside of her budget constraint.b. would be at a point inside her

12、budget constraint.c. must not be consuming positive quantities of all goods.d. must be consuming at a point where her budget constraint touches one of the axes.ANS: B PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Interpretive 11. An increase in income will cause a consumers budget constraint to

13、a. shift outward, parallel to its initial position.b. shift inward, parallel to its initial position.c. pivot around the Y axis.d. pivot around the X axis.ANS: A PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: AnalyticalFigure 21-1 12. Refer to Figure 21-1. Which point in the figure showing a con

14、sumers budget constraint represents the consumers income divided by the price of a CD?a. Point Ab. Point Cc. Point Dd. Point EANS: C PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Applicative 13. Refer to Figure 21-1. A consumer that chooses to spend all of her income could be at which point(s)

15、on the budget constraint?a. Ab. Ec. B, C, or Dd. A, B, C, or DANS: C PTS: 1 DIF: 1 REF: 21-1TOP: Budget constraint MSC: Applicative 14. Refer to Figure 21-1. All of the points identified in the figure represent possible consumption options with the exception ofa. Ab. Ec. A and Ed. None. All points a

16、re possible consumption options.ANS: B PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: ApplicativeFigure 21-2 15. Refer to Figure 21-2. Which of the graphs in the figure reflects a decrease in the price of good X only?a. graph (a)b. graph (b)c. graph (c)d. graph (d)ANS: B PTS: 1 DIF: 2 REF: 21-1T

17、OP: Budget constraint MSC: Analytical 16. Refer to Figure 21-2. Which of the graphs in the figure reflects an increase in the price of good Y only?a. graph (a)b. graph (b)c. graph (c)d. graph (d)ANS: C PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Analytical 17. Refer to Figure 21-2. Which of t

18、he graphs in the figure could reflect a decrease in the prices of both goods?a. graph (a)b. graph (b)c. graph (c)d. graph (d)ANS: D PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Analytical 18. The slope of the budget constraint is determined by thea. relative price of the goods measured on the

19、axes.b. relative price of the goods measured on the axes and the consumers income.c. endowment of productive resources.d. preferences of the consumer.ANS: A PTS: 1 DIF: 1 REF: 21-1TOP: Budget constraint MSC: Definitional 19. The slope of the budget constraint is all of the following excepta. the rel

20、ative price of two goods.b. the rate at which a consumer can trade one good for another.c. the marginal rate of substitution.d. constant.ANS: C PTS: 1 DIF: 1 REF: 21-1TOP: Budget constraint MSC: DefinitionalFigure 21-3 20. Refer to Figure 21-3. In graph (a), if income is equal to $120, the price of

21、good y isa. $1b. $2c. $3d. $4ANS: C PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Applicative 21. Refer to Figure 21-3. In graph (a), what is the price of good y relative to good x (i.e., Py/Px)?a. 1/3b. 1/4c. 3d. 4ANS: B PTS: 1 DIF: 3 REF: 21-1TOP: Budget constraint MSC: Applicative 22. Refer

22、to Figure 21-3. In graph (b), what is the price of good x relative to good y (i.e., Px/Py)?a. 2/7b. 3/6c. 7/2d. 7ANS: A PTS: 1 DIF: 3 REF: 21-1TOP: Budget constraint MSC: Applicative 23. Refer to Figure 21-3. Assume that a consumer faces both budget constraints in graph (a) and graph (b) on two diff

23、erent occasions. If her income has remained constant, what has happened to prices?a. The price of X in graph (a) is higher than the price of X in graph (b).b. The price of Y in graph (a) is higher than the price of Y in graph (b).c. The prices of both X and Y are lower in graph (a).d. None of the ab

24、ove are true.ANS: A PTS: 1 DIF: 3 REF: 21-1TOP: Budget constraint MSC: Analytical 24. Suppose a consumer spends her income on two goods: music CDs and DVDs. If the consumer has $200 to allocate to these two goods, the price of a CD is $10, and the price of a DVD is $20, what is the maximum number of

25、 CDs the consumer can purchase?a. 10b. 20c. 40d. 50ANS: B PTS: 1 DIF: 1 REF: 21-1TOP: Budget constraint MSC: Applicative 25. Suppose a consumer spends her income on two goods: music CDs and DVDs. If the price of a CD is $8, the price of a DVD is $20, and we graph the budget constraint by placing the

26、 quantity of CDs purchased on the horizontal axis, what is the slope of the budget constraint?a. -5.0b. -2.5c. -0.4d. The slope of the budget constraint cannot be determined without knowing the income the consumer has available to spend on the two goods.ANS: C PTS: 1 DIF: 2 REF: 21-1TOP: Budget cons

27、traint MSC: Applicative 26. Suppose a consumer is currently spending all of her available income on two goods: music CDs and DVDs. If the price of a CD is $9, the price of a DVD is $18, and she is currently consuming 10 CDs and 5 DVDs, what is the consumers income?a. $90b. $180c. $270d. $360ANS: B P

28、TS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Applicative 27. A consumer is currently spending all of her available income on two goods: music CDs and DVDs. At her current consumption bundle she is spending twice as much on CDs as she is on DVDs. If the consumer has $120 of income and is consumi

29、ng 10 CDs and 2 DVDs, what is the price of a CD?a. $4b. $8c. $12d. $20ANS: B PTS: 1 DIF: 3 REF: 21-1TOP: Budget constraint MSC: Analytical 28. The following diagram shows a budget constraint for a particular consumer. If the price of x is $10, what is the price of y?a. $15b. $25c. $35d. $70ANS: C PT

30、S: 1 DIF: 3 REF: 21-1TOP: Budget constraint MSC: Analytical 29. Budget constraints exist for consumers becausea. their utility from consuming goods eventually reaches a maximum level.b. even with unlimited incomes they have to pay for each good they consume.c. they have to pay for goods and they hav

31、e limited incomes.d. prices and incomes are inversely related.ANS: C PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Interpretive 30. A family on a trip budgets $800 for meals and gasoline. If the price of a meal for the family is $50, how many meals can the family buy if they do not buy any gasoline?a. 8b. 16c. 24d. 32ANS: B PTS: 1 DIF: 2 REF: 21-1TOP: Budget constraint MSC: Applicative 31. A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40. In addition, suppose the family c