经济学原理复习题 英文版

经济学原理复习题  英文版
经济学原理复习题  英文版

经济学原理复习题

1. You have $100 in savings. You could earn four percent interest if you put the $100 in a bank savings account for

a year. What is your opportunity cost if you put the $100 under the pillow of your bed instead? B

A) $0.00. B) $4.00. C) $100.00. D) $104.00.

2.________ focuses on the prices of individual goods and services and _______ focuses on the rate of inflation.

A) Microeconomics; macroeconomics B) Macroeconomics; microeconomics A

C) Microeconomics; microeconomics D) Macroeconomics; macroeconomics

3.Refer to Table 1. Matthew’s opportunity cost of designing one Web site is C

A)1/5 of a brochure. B) 4 brochures. C) 5 brochures. D) 10 brochures.

4.Refer to Tab le 1. Andrew’s opportunity cost of designing one Web site is C

A) 1/4 of a brochure. B) 2 brochures. C) 4 brochures. D) 8 brochures.

5. Refer to Table 1. _______has a comparative advantage in ________brochures. D

A) Matthew; both Web site design and in B) Andrew; both Web site design and in

C) Matthew; Web site design and Andrew has a comparative advantage in

D) Andrew; Web site design and Matthew has a comparative advantage in

6.Refer to Table 1. To maximize total production, B

A) Matthew should specialize in Web site design and Andrew should specialize in brochures.

B) Andrew should specialize in Web site design and Matthew should specialize in making brochures.

C) Matthew and Andrew should both split their time between making brochures and Web site design.

D) Matthew should make brochures and design Web sites, but Andrew should only make brochures.

7.Refer to Table 1. Andrew’s opportunity cost of designing four Web sites is __________ brochu res forgone. B

A) 8 B) 16 C) 20 D) an indeterminate number of

8.Refer to Table 1. Matthew’s opportunity cost of designing three Web sites is __________ brochures foregone.

A)12 B)13 C)15 D)20 C

9.Refer to Figure 1. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the ______ desktop computers that must be forgone to produce _______ additional laptop computers. D

A) 60; 10 B) 20; 30 C) 80; 20D) 20; 10

10.Refer to Figure 1. The marginal rate of transformation in moving from Point A to Point B is B

A) 5. B) -2. C) -2.8. D) -4.

11.Refer to Figure 1. For this economy to move from Point B to Point C so that an additional 10 laptop computers could be produced, production of desktop computers would have to be reduced by C

A) exactly 20. B) fewer than 20. C) more than 20. D) exactly 40.

12.Refer to Figure 1. The best point for society would be D

A) Point C, as at this point there are approximately equal amounts of desktop and laptop computers being produced.

B) either Point B or Point C, as the total amount being produced at either of these points is

approximately the same.

C) at any of the labeled points, as all of the points represent an efficient allocation of resources.

D) indeterminate from this information, as we don't have any information about the society's desires.

13.Refer to Figure2. A __________ represents economic growth. B

A)shift from ppf2 to ppf1 B) shift from ppf1 to ppf2

C) movement from one to another point along ppf1 D) movement from one to another point along ppf2

14.Refer to Figure 2. A __________ best represents an improvement in technology. B

A) shift from ppf2 to ppf1 B) shift from ppf1 to ppf2

C) movement from one to another point along ppf1 D) movement from one to another point along ppf2

15.Refer to Figure 2. A(n) _________ will shift an economy's production possibility frontier from

ppf1 to ppf2. D

A) decrease in unemployment B) increase in the use of existing vacant land

C) change in consumer's tastes for the two goods D) increase in its capital stock

16.Refer to Figure 2. A(n) ________ will NOT cause the production possibility frontier to shift from ppf1 to ppf2. D

A) increase in a country’s land area B) improvement in technology

C) increase in the stock of capital D) decrease in the unemployment rate

17.Refer to Figure 3. Which of the following would be most likely to cause the demand for Dr. Pepper

to shift from D0 to D1? A

A) a decrease in income, assuming that Dr. Pepper is a normal good

B) an increase in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper

C) a decrease in the price of Dr. Pepper

D) a reduction in the price of sugar used to make Dr. Pepper

18.Refer to Figure 4. As your income increased, your demand for X shifted from D1 to D2. X is a(n) ________ good for you. A

A) inferior B) normal C) luxury D) income-neutral

19.Refer to Figure 5. When the economy moves from Point A to Point B, there has been an _________and

an ________. B

A) increase in demand; increase in supply

B) increase in demand; increase in quantity supplied

C) increase in quantity demanded; increase in quantity supplied

D) increase in quantity demanded; increase in supply

20.Refer to Figure 5. When the economy moves from Point A to Point C, there has been A

A) a decrease in supply and a decrease in quantity demanded.

B) a decrease in quantity supplied and a decrease in demand.

C) a decrease in supply and an increase in quantity demanded.

D) an increase in supply and a decrease in quantity demanded.

21.Refer to Figure 5. When the economy moves from Point A to Point E, there has been A

A)an increase in demand and an increase in supply.

B) a decrease in demand and a decrease in supply.

C) an increase in demand and a decrease in supply.

D) an increase in quantity demanded and an increase in quantity supplied.

22.Refer to Figure 5. When the economy moves from Point E to Point B, there has been C

A) an increase in supply and an increase in quantity demanded.

B) an increase in both supply and demand.

C) a decrease in supply and an increase in demand.

D) a decrease in supply and an increase in quantity demanded.

SCENARIO 1 : Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.

23.Refer to Scenario 1. As a result of the flooding during the winter, you would expect that B

A) the price of lettuce would rise, the supply of lettuce would increase, and the quantity demanded of

lettuce would decrease.

B) the supply of lettuce decreased, the price of lettuce rose, and the quantity demanded of lettuce

decreased.

C) the price of lettuce rose and both the quantity of lettuce supplied and the quantity of lettuce

demanded increased.

D) the supply of lettuce decreased, the price of lettuce rose, and the demand for lettuce decreased

24.Refer to Scenario 1. The floods that destroyed part of the lettuce crop would have caused the equilibrium price of spinach to ________ and the equilibrium quantity of spinach to ________. C

A) fall; decrease B) fall; increase C) rise; increase D) rise; decrease

25.Refer to Scenario 1.The floods that destroyed part of the lettuce crop would have caused a(n) ________ in the __________ tomatoes. B

A) increase; demand for B) decrease; demand for

C) increase; quantity demanded of D) decrease; quantity demanded of

26.Refer to Scenario 1.At the same time that part of the lettuce crop was destroyed, consumer income also decreased. Ceteris paribus, in the market for lettuce this would have caused D

A) both the equilibrium price and quantity to decrease.

B) the equilibrium price to rise and the equilibrium quantity to decrease.

C) the equilibrium price to fall. The equilibrium quantity could have increased, decreased, or remained the

same.

D) the equilibrium price to either rise, fall, or remain the same and the equilibrium quantity to decrease.

27.Refer to Scenario 1.The government wants to protect consumers from rising food prices. Therefore, price restrictions are imposed on lettuce growers prohibiting them from raising the price of lettuce. This will cause

A) an excess supply of lettuce. B) an excess demand for lettuce. B

C) an increase in the demand for lettuce. D) a decrease in the supply of lettuce.

28.Refer to Figure 6. At the world price of $20 per computer chip, the United States imports _______ million computer chips. B

A) 2 B) 6 C) 10 D) 12

29.Refer to Figure If a $5.00 each computer chip tax is levied on imported computer chips, the United States will import _____ million computer chips. D

A) 6 B) 10 C) 4 D) 2

30.Refer to Figure If the United States eliminates all taxes on computer chips, the price of computer chips in the United States C

A) would be $15 per computer chip, and the United States would import 10 million computer chips.

B) would be $25 per computer chip, and the United States would import 2 million computer chips.

C) would be $20 per computer chip, and the United States would import 6 million computer chips.

D) cannot be determined from this information.

31.Refer to Figure 6. Assume that initially there is free trade. If the United States then imposes a $5.00 tax on imported computer chips, B

A) the quantity demanded of computer chips will be reduced by 4 million computer chips.

B) the quantity of computer chips supplied by U.S. firms will increase by 2 million computer chips.

C) the price of computer chips in the United States will decreaseto $15.

D) U.S. imports of computer chips will increase by 1 million computer chips.

32.Refer to Figure 6. Assume that initially thereis free trade. If the United States then imposesa $5.00 per computer chip tax on imported computer chips, the tax revenue generated will equal ______ million. B

A) $50 B) $10 C) $60 D) $75

33.Refer to Figure 7. The demand for milkshakes is unitarily elastic at Point C. If the price of a milkshake is reduced from P3 to P4, total revenue B

A) will increase. B) will decrease. C) will remain constant. D) could either increase or decrease.

34.Refer to Figure 7. The demand for milkshakes is unitarily elastic at Point C. If the milkshake price falls from P1 to P2, total revenue will A

A) increase. B) decrease. C) remain constan D) either increase decrease.

35.The government is considering placing a tax on cigarettes to raise revenue to finance health care benefits. One of the arguments for this tax is that the demand for cigarettes is price inelastic. Which of the following statements is TRUE? A

A) The tax on cigarettes may not raise as much revenue as anticipated in the years to come because the demand for cigarettes is likely to become more elastic over time.

B) This is a very good way to raise revenue both in the short term and in the long term because there are no substitutes for cigarettes.

C) This tax will not raise much revenue either in the short term or the long term because demand is price inelastic.

D) No tax revenue can be raised in this way because sellers of cigarettes will just lower their price by the amount of the tax and therefore the price of cigarettes to consumers will not change.

36. True/False

1)When the slope of a demand curve is constant, price elasticity of demand is constant as well. F

2) A demand curve with continuously changing slope over all quantity values can have a constant price elasticity of demand. T

3) A demand curve with constant slope over all quantity values can have a continuously changing price elasticity of demand. T

4) Price elasticity of demand is calculated using the change in quantity demanded and the change in price. F

5) Perfectly inelastic demand is graphed as a horizontal line. F

6) Perfectly elastic demand is graphed as a horizontal line. T

7) How total revenue changes when a price changes can be predicted using price elasticity of demand. T

8) When demand is elastic, an increase in price will result in an increase in total revenue. F

9) When demand is elastic, a decrease in price will result in an increase in total revenue. T

10) When demand is inelastic, an increase in price will result in an increase in total revenue. T

11) When demand is inelastic, a decrease in price will result in an increase in total revenue. F

12) When demand is unit elastic, an increase in price will result in an increase in total revenue. F

13) When demand is unit elastic, a decrease in price will result in an increase in total revenue. F

14) A positive cross-price elasticity between two goods implies that the two goods are substitutes. T

15) A positive cross-price elasticity between two goods implies that the two goods are compliments. F

37.Refer to Figure 8. Assume Mr. Lingle is on budget constraint AC. If the price of a gardenburger is $5, Mr.Lingle's monthly income is D

A) $20. B) $60. C)100. D) $200.

38.Refer to Figure 8. Assume Mr. Lingle is on budget constraint AC. If the price of a beer is $5, Mr. Lingle's monthly income is D

A) $40. B) $80. C) $100. D) $200.

39.Refer to Figure 8. The slope of budget constraint AC is A

A)-1. B) -2. C) -5. D) indeterminate from this information because prices are not given.

40.Refer to Figure 8.Assume Mr. Lingle's budget is AC. Given his current monthly income he cannot purchase the

quantities of the two goods at point _____. C

A) A B) B C) D D) E

41.Refer to Figure 8. Along budget constraint AC, the opportunity cost of one gardenburger is B

A) 1/4 of a beer B)1 beer. C) 2 beers. D) changing as Mr. Lingle moves down his budget constraint.

42.Refer to Figure 8.Mr. Lingle's budget constraint is AC. His choice set is all points A

A) in the area bounded by OAC. B) along budget constraint AC.

C) to the right of budget constraint AC. D) along the vertical and horizontal axes.

43.Refer to Figure 8.Mr. Lingle's budget constraint is AC. Point E is B

A) an available option and Mr. Lingle exactly spends all of his income.

B) an available option and Mr. Lingle does not spend all of his income.

C) not in Mr. Lingle’s opportunity set but is on his budget constraint.

D) not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot

purchase with his current income.

44.Refer to Figure 9.Bill's budget constraint was originally CD. If his new budget constraint is EF, then his income

A)increased. B) decreased. A

C) increased and the price of black beans decreased.

D) decreased and the price of black beans increased.

45.Refer to Figure 9.Bill's budget constraint is BD. If the price of bell peppers increases, Bill's new budget constraint is

A) AD. B) AO. C) CD. D) EF . A

46.Refer to Figure 9.Bill's budget constraint is BD. Bill's income is $800, the price of a bell pepper is $1, and the price of a bag of black beans is $1. At Point B Bill is buying _________bell peppers and __________ bags of black beans. A

A) 800; 0 B) 0; 800 C) 400; 400 D) 600; 200

47.True/False

1)When the price of a good increases, the budget constraint does not change. F

2) Assuming a perfectly competitive market implies that households have perfect knowledge of qualities and

prices of everything available in the market. T

3) Homogeneous products are distinguishable from each other. F

4)Price increases cause a decrease in a household’s choice set. T

5)Ignoring income effects, an increase in the wage rate will cause an increase in labor supply

6)The diamond/water paradox helps to illustrate the concept of marginal value. T

48.The diamond/water paradox states that the things with the ______ value in use frequently have _______ value in exchange. C

A)least; the least B) least; little or no C) greatest; little or no D) greatest; the greatest

49.Refer to Figure 10. If the price of an ice cream cone is $2, Jason's income is C

A) $75. B) $250. C)300. D) indeterminate because the price of ice cream sandwiches is not given.

50.Refer to Figure 10. Jason maximizes utility at Point A

A) A. B) B. C) C. D) D.

51.Refer to Figure 10. The slope of the indifference curve is the ratio of the A

A)marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.

B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones.

C) total utility of ice cream cones to the total utility of ice cream sandwiches.

D) total utility of ice cream sandwiches to the total utility of ice cream cones.

52.Refer to Figure 10. At Point A, the slope of the indifference curve is A

A) -0.67. B) -1.5. C) -3.0. D) indeterminate because the marginal utilities are unknown.

53.Refer to Figure 10.If the price of an ice cream cone is $2, the price of ice cream sandwiches is B

A) $2. B) $3. C) $50. D) $100.

54.Refer to Figure If this shoe manufacturer increases labor from 15 to 20, the marginal product of the 20th worker C

A) is zero, as the total number of shoes produced remains at 50.

B) is 8.5, as capital can be reduced by 8.5 units when the 20th worker is hired.

C) cannot be determined because output remains constant.

D) cannot be determined because both capital and labor have been increased.

55.Refer to Figure 11. If the price of capital is $10 and the price of labor is $20, the optimal product technique is A

A) A. B) B. C) C. D) D.

60.Refer to Table 2.Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, what production technique should this firm use to produce 2 units of output? B

A)Production technique A B)Production technique B

C) The firm is indifferent between production technique A and production technique B.

D) It is impossible to determine if the firm should select production technique A or B because total fixed

costs are not given.

61.Refer to Table 2.Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, the total variable cost of producing one unit of output is B

A) $16 B) $100 C)$120. D) $220.

62.Refer to Table 2. Assume that the relevant time period is the short run. Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, this firm's total cost of producing one unit of output is D

A)$100. B) $120. C) $220. D) indeterminate from this information.

63.Refer toTable 2.Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, the marginal cost of producing the third unit of output is B

A)$30. B) $40. C)$50. D) indeterminate from this information.

64.Refer to Table 3. If Sherry produces zero earrings, her total fixed costs are C

A)$0. B) $50. C)$100. D) indeterminate from this information.

65.Refer to Table 3.If Sherry produces one pair of earrings, her total variable costs are A

A) $50. B) $100. C)$150. D) indeterminate from this information.

66.Refer to Table 3.If Sherry produces two pairs of earrings, her marginal cost is A

A) $40. B) $45. C)$72.50. D) $122.50.

67.Refer to Table 3.If Sherry produces three pairs of earrings, her total variable costs are B

A) $26.67. B) $140. C) $175. D) $225.

68.Refer to Table 3. If Sherry produces five pairs of earrings, her total costs are C

A) $320. B) $360. C) $370. D) $400.

69.Refer to Table 3.If Sherry produces four pairs of earrings, her average fixed costs are C

A) $4. B) $20. C) $25. D) $100.

70.Refer to Table 3.Assume that Sherry's Earrings is producing in a perfectly competitive market and the market price for earrings is $60. To maximize profits Sherry should produce __________ pairs of earrings. C

A) Two B) three C)four D) five

71.Refer to Figure 13.For this farmer to maximize profits he should produce __________ bushels of wheat. C

A) 6 B) 9 C) 12 D)16

72.Refer to Figure 13.If this farmer is maximizing profits, his total costs will be D

A) $11. B) $66. C)$90. D) $132.

73.Refer to Figure 13.If this farmer is maximizing his profits, his TVC is C

A) $24. B) $42. C)$108. D) $255.

74.Refer to Figure 13. This farmer's fixed costs are B

A)$0. B) $24. C) $45. D) indeterminate unless we know the level of output the firm is producing.

75.Refer to Figure 13.If this farmer is maximizing profits, his total revenue will be C

A) $90. B) $135. C)$180. D) $240.

76.Refer to Figure 13.If this farmer is maximizing profits, his profit will be C

A) -$24. B) $45. C)48. D) $72.

77.Refer to Figure 13.If this farmer is maximizing profit, his operating profit (or loss) is C

A) -$24. B) $48. C)$72. D) $156

78.Refer to Figure 13.This farmer would earn a zero operating profit if price was A

A) $7. B) $9. C) $10. D) $11.

79.Refer to Figure 13.This farmer would earn a zero economic profit if price was C

A)$7. B) $9. C) $10. D) $11.

80.Refer to Figure 13.This farmer's shutdown point is at a price of C

A) $0. B) $4. C) $7. D) $10.

81.Refer to Figure 14.This firm's shutdown point corresponds to Point B

A)A. B)B. C) C. D)D.

82.Refer to Figure14.This firm's short-run supply curve is the firm's C

A)AVC curve to the right of Point B. B) marginal cost curve above Point A.

C)marginal cost curve above Point B. D) marginal cost curve above Point D.

83.Refer to Figure 14.This firm will earn an operating profit, but incur an economic loss if price is C

A) between $0 and $4. B) between $4 and $7. C) between $7 and $13. D) above $13.

84.Refer to Figure 14.This firm will earn a zero economic profit if price is D

A) $0. B) $4. C) $7. D) $13

85.True/False

1、Input prices fall as entry occurs in an increasing-cost industry. FALSE

2、Entry of new firms in an increasing-cost industry leads to an upward shift of the LRAC curve. TRUE

3、Information on MC of production is all that is necessary to obtain the industry supply curve, because

P = MC is the profit-maximization condition for all firms. FALSE

4、The long run industry supply curve is made up of the zero-profit equilibrium levels of output as

the industry expands due to entry. TRUE

5、When price is sufficient to cover average variable costs, firms suffering short-run losses will

continue to operate rather than shut down. TRUE

6、At all prices below the shutdown point, optimal short-run output is zero. TRUE

7、The horizontal sum of marginal cost curves (above AVC) of all the firms in an industry is the short-run

industry supply curve. TRUE

8、The marginal cost curve of a firm above AVC is also its short-run supply curve. TRUE

89.Refer to Figure 16.If labor supply is given by S0 and the firm is using K1 units of capital, this firm should hire

__________ units of labor to maximize profit. A

A) I0 B) I1 C) I2 D) I3

90.Refer to Figure 16.The market wage is initially W0 and the firm is initially at Point A. Labor supply decreases from S0 to S1, if the firm does not change the amount of capital it employs, the firm will move to Point __ to maximize profits. A

A) B B) C C) E D) F

93.An increase in technology will cause a marginal revenue product of labor curve to C

A) be unaffected because the productivity of labor has not changed.

B) shift to the left. C) shift to the right D) become more inelastic.

94.A firm’s marginal cost curve in a perfectly competitive product market is the same as its ______ curve. Similarly,

a firm’s marginal revenue product curve in a perfectly competitive labor market is the same as its ________ curve.

A)demand; supply B)supply; demand C)demand; demand D)supply; supply B

95.A firm is currently hiring capital and labor so that MP L/P L < MP K/P K, if the firm wishes to maximize profits it should hire D

A)less labor and less capital. B) more capital and more labor.

C) more labor and less capital. D) less labor and more capital.

96.The equilibrium condition P = MC holds C

A) only if all markets are imperfectly competitive. B) as long as all firms maximize profits.

C) only if all markets are perfectly competitive. D) only for goods produced by the public sector.

97._______is an example of a public good. B

A) An automobile B) National defense C) A restaurant D) A hospital

98.Your next-door neighbor has a beautiful rose garden. But you are allergic to roses and cannot use your yard because of the rose pollen that drifts into your yard. In this case, the rose garden is an example of a B

A) public good. B) good that imposes an external cost.

C) good that provides an external benefit. D) Pareto good.

99.Which of the following is an example of an external benefit? A

A) More people start to ride the bus because they become more public-spirited and, as a result, air pollution

is reduced.

B) Firms are able to reduce their costs of production by using a more efficient technology.

C) The federal government spends a million dollars on improving national parks.

D) A firm has just gotten permission to open a landfill on property that is adjacent to your home.

100.Refer to Figure 17. The profit-maximizing level of output for this monopolist is _______units of output. B

A) 20 B) 22 C) 24 D) 26

101.Refer to Figure 17.The profit-maximizing price for this firm is D

A) $5. B) $7. C) $9. D) $11

102. Refer to Figure 17. If this firm is producing the profit-maximizing quantity and selling it at the

profit-maximizing price, the firm's profit will be C

A) $80. B) $84. C)$88. D) $132.

103.Refer to Figure 18. The Silver Exchange has a monopoly over the sale of solid silver walking sticks.

The Silver Exchange has hired you as an economic consultant. You should advise this monopolist to A

A) shut down in the short run and exit the industry in the long run.

B) produce in the short run and expand capacity in the long run.

C) produce in the short run but exit the industry in the long run.

D) shut down in the short run but expand capacity in the long run.

104.Refer to Figure 18. The profit-maximizing level of output for the Memory Company is __________ high school yearbooks. B

A) 0 B) 200 C) 300 D) 350

105.Refer to Figure 18. The profit-maximizing price for the Memory Company's high school yearbook is C

A) $0. B) $9. C) $16. D) $20.

106.Refer to Figure 18. The profit-maximizing level of profit for the Memory Company is C

A)-$1,800. B)-$1,200. C) -$800. D) $0.

107.Refer to Figure 18. The Memory Company's operating profit is D

A)-$800. B) -$1,000. C) $800. D) $1,000.

完整word版生理学期末考试试题及答案

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曼昆经济学原理英文版文案加习题答案22章

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五、论述题(本题共10分) 试述通货膨胀的起因及应对方法

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