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【作业】01 What Economics Is All About Assignment 1

1、 问题:1.  Choices must be made in the use of resources (        )a.     because they are in finite supply.b.     because they are in finite demand.c.     only if the resources are nonrenewable.d.     because they are in infinite supply.
评分规则: 【 a

2、 问题:2.  Social security programs are aimed at making the distribution of resources in an  economy more (        )a.     efficient.                                       c.  equitable.b.     inefficient.                                    d.  inequitable.
评分规则: 【 c

3、 问题:3.  The opportunity cost of building an additional parking lot at your school is (        )a.     the cost of concrete, labor, etc. used to build the lot.b.     the value of the property and resources used at their next best alternative use.c.     the value of the property and resources used at all of their alternative uses.d.     infinite, and so we cannot estimate it.
评分规则: 【 b

4、 问题:4.  Suppose you are considering going to the movies, and you place a $12 value on your anticipated enjoyment of the movie.  The ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour.  You would go to (        )a.     work; the opportunity cost of the movies exceeds the expected benefit.b.     the movies; your incentive is the $6 excess expected benefit.c.     the movies; your enjoyment will exceed the lost wages by $2.d.     the movies; the benefit of $18 exceeds the lost wages.
评分规则: 【 a

5、 问题: 5.  Metro North Railway is trying to decide whether or not to run an additional train into New York City from New Haven, Connecticut at 8:15 a.m.  The total cost of running trains between 8:00 a.m. and 9:00  a.m. is $45,000 and the expected revenues on any given day are $100,000 during this time period.  The cost of running the additional train is $4,000 and it is expected that revenues will rise to $103,500.  Metro North should (        )a.     run the train because the total revenues are greater than the total costs.b.     run the train because the firm’s revenues will rise.c.     not run the train because the total costs are already too high.d.     not run the train because the marginal cost of $4000 is greater than the marginal revenue of $3,500.  
评分规则: 【 d

6、 问题:6.  A nation’s standard of living can be increased by (        )a.     improvements in technology and international trade.b.     improvements in technology but not international trade.c.     international trade but not improvements in technology.d.     neither international trade nor improvements in technology.
评分规则: 【 a

7、 问题:7.  In a market economy, the economic well-being of society is the responsibility of (        )a.     central planners.b.     central bankers.c.     government policymakers.d.     no one; self-interested individuals bring about the well-being of society.
评分规则: 【 d

8、 问题:8.  An important element of the market process is that (        )a.     although people trade voluntarily, one party “wins” and the other party “loses”.b.     the government determines the extent of market activity in order for all parties to benefit.c.     people are better off if they are self-sufficient than if they trade with others in the market.d.     people trade voluntarily and all parties expect to benefit.
评分规则: 【 d

9、 问题:9.  Adam Smith argues in The Wealth of Nations that an economy will produce more goods and services if (        )a.     people act in the public interest than if they act selfishly.b.     people act selfishly, than if the government directs economic activity.c.     the government controls the use of the nation’s scarce resources.d.     people ignore their own interests and contribute to national wealth as a whole.
评分规则: 【 b

10、 问题:10.  If there is a way to change a situation so that at least some people gain while no one in the economy loses, the situation (        )a.     is economically inefficient.b.     is economically efficient.c.     is providing an inequitable distribution of resources to the community.d.     is neither equitable nor efficient.
评分规则: 【 a

11、 问题:11.  The Department of Justice brought suit against Microsoft in 1990s for (        )a.     generating external costs.b.     generating external benefits.c.     creating excess market power for itself.d.     providing public goods to the marketplace.
评分规则: 【 c

12、 问题:12.  Suppose that Rebecca throws her soda bottle out the car window and it smashes on the road.  Jim drives over the broken glass and gets a flat tire.  Rebecca’s soda consumption has resulted in (        )a.     the production of a public good.b.     an externality.c.     monopoly power for Rebecca.d.     greater efficiency in consumption.
评分规则: 【 b

13、 问题:13. The market power that DUFE’s “Department of Textbooks” has now limited by (      )a.     new antitrust laws.b.     public goods provided by the government.c.     university policies against monopoly power.d.     increased access to other booksellers.
评分规则: 【 d

14、 问题:14.  Assume that there are spillover benefits associated with keeping cars in good mechanical conditions.  Without government intervention (i.e., with a free market), we would expect people to (        )a.     give their cars too much maintenance.b.     stop driving and start walking.c.     subsidize each other’s car maintenance bills.d.     not maintain their cars as much as they should.
评分规则: 【 d

15、 问题:15.  According to economists who emphasize the connection between productive contribution and economic reward, a more equal income distribution (        )a.     is fundamental to economic growth.b.     always helps the poor in the long run.c.     creates inefficiency.d.     generates greater productivity.
评分规则: 【 c

16、 问题:16.  Inflation reduces (        )a.     the price level.b.     employment.c.     the money supply.d.     the purchasing power of money.
评分规则: 【 d

17、 问题:17. A simplifying assumption (        )a.     affects the important conclusions of an economic model.b.     increases the level of detail in an economic model.c.     limits the validity of an economic model’s conclusion.d.     eliminates unnecessary details from an economic model.
评分规则: 【 d

18、 问题:18.  The ultimate purpose of an economic model is to (        )a.     explain reality as completely as possible.b.     establish assumptions that closely resemble reality.c.     help us to understand economic behavior.d.     guide government policy decisions.
评分规则: 【 c

19、 问题:19.  An economic model (        )a.     uses equations to understand normative economic phenomena.b.     often omits crucial elements.c.     simplifies reality in order to focus on crucial elements.d.     cannot be proven wrong.
评分规则: 【 c

20、 问题:20.  Which of the following activities would occur in a market for factors of production? (       )a.     Reesa buys a new computer to help balance her personal checkbook.b.     Randy pays a speeding ticket.c.     Ian mows his grass.d.     General Motors hires additional workers to run a third-shift at a factory.
评分规则: 【 d

21、 问题:21.  Which of the following activities would occur in a market for goods and services? (        )a.     Harry mows his grass.b.     General Motors hires additional workers to run a third shift at a factory.c.     Jane bakes pies for Thanksgiving dinner.d.     Dolly buys a ticket to a ball game.
评分规则: 【 d

22、 问题:22.  The three sources of income for the household are (        )a.     taxes, subsidies from the government, and rent.b.     wages, rent, and profit.c.     wages, rent, and subsidies from the government.d.     wages, rebates, and rent.
评分规则: 【 b

23、 问题:23.  Households play what role(s) in the circular flow diagram? (        )a.     purchasers of factors of production and sellers of services.b.     purchasers of factors of production and sellers of goods.c.     purchasers of goods and services only.
评分规则: 【 d

24、 问题:24.  Which of the following is not an assumption that underlies an economy’s production possibilities frontier? (        )a.     fixed income.b.     fixed resources.c.     unchanged technology.d.     fully employed resources.
评分规则: 【 a

25、 问题:25.  Which of the following would not result in an outward shift of a nation’s production possibilities frontier? (        )a.     a reduction in the unemployment rate.b.     a rise in labor productivity.c.     advances in technology.d.     an expanding resource base.
评分规则: 【 a

26、 问题:26.  The production possibilities frontier demonstrates the basic economic principle that (       )a.     economies are always efficient.b.     assuming full employment, supply will always determine demand.c.     assuming full employment, an economy is efficient only when the production of capital goods in a particular year is greater than the production of consumption goods in that year.d.     assuming full employment, to produce more of any one thing, the economy must produce less of at least one other good.
评分规则: 【 d

27、 问题:27.  Opportunity costs most often increase as you move down a production possibilities frontier because (        )a.     resources are not completely adaptable to alternative uses.b.     factors of production are limited and human wants are unlimited.c.     efficiencies are generated by large-scale production.d.     economic efficiency is only possible in the short run.
评分规则: 【 a

28、 问题:28.  Suppose an economy has the production possibilities frontier shown in the diagram and is operating at position A.  Which of the statements below is false? (        )a.     This economy could produce more of both capital and consumption goods.b.     This economy is experiencing full employment.c.     This economy could produce more capital goods without decreasing the quantity of consumption goods produced.d.     This economy could produce more consumption goods without decreasing the quantity of capital goods produced.
评分规则: 【 b

29、 问题:29.  If the economy shown in the diagram moves from position A to position B, we would know that (        )a.     the rate of unemployment increased.b.     consumption goods production increased, but capital goods production decreased.c.     its unemployment decreased, but at the expense of either capital or consumption good production.d.     it has achieved full employment of resources. 
评分规则: 【 d

30、 问题:30.  All points on a production possibilities frontier show the (        )a.     maximum satisfaction that households receive from their purchases of goods.b.     minimum quantities of resources that must be used to produce a given quantity of output.c.     maximum output that society can produce with given resources and technology.d.     minimum output that society can produce with given resources and technology.
评分规则: 【 c

31、 问题:31.   The branch of economics that is concerned with the overall performance of the economy is called (        )a.     resource economics.b.     contemporary economics.c.     macroeconomics.d.     microeconomics.
评分规则: 【 c

32、 问题:32.  Which of the following questions would not be of particular interest to a microeconomist? (        )a.     Why do national economies grow?b.     What percentage of consumer income is spent on entertainment?c.     Why do workers prefer the 4-day workweek?d.     What happens to worker productivity when the job shifts to a 4-day workweek?
评分规则: 【 a

33、 问题:33.  The television network newscaster reports that the national inflation rate in the past year equaled 4 percent.  This report is most likely prepared from work done by a (        )a.     microeconomist.b.     normative economist.c.     macroeconomist.d.     social scientist rather than an economist.
评分规则: 【 c

34、 问题:34.  The Secretary of Labor states that wage rates in the country have risen by 2 percent this past year.  The head of a local labor union states that wage gains should have been higher.  The Secretary’s statement is a __ economic statement, and the labor head’s statement is a ___economic statement. (        )a.     normative; normativeb.     normative; positivec.     positive; normatived.     positive; positive
评分规则: 【 c

35、 问题:35.  “An increase in interest rates will lower economic growth.”  This statement is (        )a.     a positive economic statement.b.     a normative economic statement.c.     untrue in every case.d.     controversial, and so not a valid economic issue. 
评分规则: 【 a

36、 问题:36.  The distinction between positive and normative economics (        )a.     is that positive economics applies only to microeconomic problems.b.     is that normative economics applies only to microeconomic problems.c.     explains why economics is not a social science but a natural science.d.     helps us to understand why economists sometimes disagree with one another.
评分规则: 【 d

37、 问题:37.  Which of the following is most closely associated with positive economics? (        )a.     Determining the impact of government spending on the actual level of total employment.b.     Determining the best level of immigration into a country.c.     Determining whether too many luxury goods are being produced.d.     Determining whether or not the government should reduce poverty.
评分规则: 【 a

38、 问题:38.  If two variables tend to increase and decrease together, they are (        )a.     positively correlated.b.     negatively correlated.c.     uncorrelated.d.     quasi-correlated
评分规则: 【 a

39、 问题:39.  The number of rainy days in the year and annual sales of suntan lotion are probably (       )a.     positively correlated.b.     negatively correlated.c.     uncorrelated.d.     quasi-correlated.
评分规则: 【 b

40、 问题:40.  A student’s course grade and amount of time spent studying for the course are generally (        )a.     positively correlated.b.     negatively correlated.c.     uncorrelated.d.     quasi-correlated. 
评分规则: 【 a

【作业】02 The Market Forces of Supply and Demand Assignment 2

1、 问题:1.  In a perfectly competitive market, (        )a.     advertising is widely used to influence demand and price.b.     firms are price takers rather than price makers.c.     firms produce a small number of differentiated products.d.     a small number of firms produce an identical product.
评分规则: 【 b

2、 问题:2.  The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as (        )a.     quantity demanded.                                     c.  supply.b.     demand.                                                      d.  quantity supplied.
评分规则: 【 a

3、 问题:3.  The demand curve for Beanie Baby dolls shows the quantity of dolls demanded (        )a.     by suppliers of those dolls.b.     at the equilibrium price for Beanie Baby dolls.c.     at each level of income.d.     at each possible price of Beanie Baby dolls.
评分规则: 【 d

4、 问题:4.  Which of the following are the best examples of substitute goods? (        )a.     Personal computers and computer software programs.b.     Milk and cookies.c.     IBM and HP personal computers.d.     Hot dogs and mustard.
评分规则: 【 c

5、 问题:5. Which of the following sets of goods are most likely to be complementary goods? (        )a.     Shoes and pizza.b.     Automobiles and computers.c.     Baseballs and baseball gloves.d.     Football tickets and baseball tickets.
评分规则: 【 c

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