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国际经济学作业用英语的话表示亚历山大收藏
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Microeconomics, 8e (Parkin) Testbank 2 Answer（chap1-chap13） Chapter 1
What Is Economics?1) An inducement to take a particular action is calledAnswer:
D2) All economic questions arise because weAnswer:
A3) All economic questions arise becauseAnswer:
C4) Scarcity isAnswer:
A5) Scarcity arises fromAnswer:
C6) When an economist talks of scarcity, the economist is referring to theAnswer:
C7) Scarcity is experienced byAnswer:
D8) Fundamental economic problems basically arise fromAnswer:
D9) Scarcity exists becauseAnswer:
B10) Scarcity can be eliminated throughAnswer:
D11) Scarcity is common to all economic systems because resources areAnswer:
D12) People must make choices becauseAnswer:
B13) The problem of &scarcity& appliesAnswer:
D14) When a wealthy businessman is unable to buy tickets to the Super Bowl, he or she
experiences ________.Answer:
B15) In every economic system, choices must be made because resources are ________ and our wants are ________Answer:
B16) The fundamental questions in economics result fromAnswer:
D17) Economics is best defined asAnswer:
C18) The study of economicsAnswer:
B19) Economics is best defined as the science of choice and how people cope with
C120) Which of the following best defines the subject of economics?Answer:
The Economic Problem1) The production possibilities frontier representsAnswer:
C2) A production possibilities frontier (PPF)Answer:
B3) Which of the following is NOT true concerning a society's production possibilities frontier (PPF)?Answer:
D4) A point outside a production possibilities frontier indicatesAnswer:
B5) A production possibilities frontier illustrates the maximum amount of two different
goods that can be produced ifAnswer:
A6) Which of the following is NOT illustrated by a production possibilities frontier?
D7) Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce
any more jets without giving up corn, we say that Popcorn has achievedAnswer:
B8) Production efficiency can be defined asAnswer:
C9) A society that is on its production possibilities frontier isAnswer:
D10) If an economy is operating at a point inside the production possibilities frontier, then
A11) Any point on a production possibilities frontier (PPF) itself isAnswer:
A12) A reduction in the amount of unemploymentAnswer:
B13) A country that must decrease production of one good in order to increase theproduction of anotherAnswer:
B14) A president of the United States promises to produce more defense goods without any
decreases in the production of other goods. This promise can be validAnswer:
B15) When producing goods and services, tradeoffs exist becauseAnswer:
B16) Opportunity cost is best defined asAnswer:
C17) A choice is made. The value of the highest-valued alternative given up is the ________ of the choice made.2Answer:
C18) Opportunity cost is expressed in a production possibilities frontier (PPF) by amovementAnswer:
D19) When operating on its PPF, a country can produce 2 tons of butter and 200 cars OR 3 tons of butter and 150 cars. The opportunity cost of 1 ton of butter is ________ cars per ton of butter.
C20) When moving along the production possibilities frontier, opportunity cost is measured as the
Demand and Supply1) The relative price of a good isAnswer:
A2) All of the following statements are true except:Answer:
C3) Joe pays $8,000.00 in tuition. The 8,000 dollar tuition Joe pays is an example of what
economists callAnswer:
B4) A relative price isAnswer:
D5) Suppose the price of a football is $20.00 and the price of a basketball is $10.00. The _______ of a football is ________.Answer:
A6) The price of a film camera is $150 and the price of a similar digital camera is $300. What is the relative price of the digital camera?Answer:
C7) The price of a video tape rental is currently $1.50 and the price of a DVD rental is $2.50. If the price of a video tape rental increases by $0.50, the relative price a DVD rental8) The price of a video tape rental is currently $1.50 and the price of a DVD rental is $2.50. If the price of a video tape rental falls by $0.50, the relative price a DVD rentalAnswer:
A9) The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?Answer:
A10) The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bottle of soda?Answer:
B11) Twenty years ago a stove cost $300 and a refrigerator cost $1,500. Today a stove costs $600, while a refrigerator costs $1,800. Which of the following statements is true?Answer:
C12) The ABC Music club charges a price of $8 for a cassette and $16 for a CD. For an ABC Music Club member, the opportunity cost of a CD isAnswer:
A313) If the money price of wheat increases and no other prices change, theAnswer:
B14) When graphing a demand curve for corn, we are showing the relationship between the quantity demanded of corn and theAnswer:
B15) The &law of demand& states that changes inAnswer:
C16) The &law of demand& is illustrated by aAnswer:
C17) The &law of demand& refers to the fact that, all other things remaining the same, when the price of a good risesAnswer:
D18) The &law of demand& states that, other things remaining the same, the quantity demanded of any good isAnswer:
A19) The &law of demand& most directly means that consumers buyAnswer:
B20) The &law of demand& states that, other thing remaining the same, the higherAnswer:
Elasticity1) Elasticity generally measures theAnswer:
D2) The price elasticity of demand equals the magnitude of theAnswer:
B3) An elasticity of demand is measured inAnswer:
D4) The price elasticity of demand is defined as the magnitude of theAnswer:
C5) Suppose the price of burgers increases from $2 to $3 each. The degree to which quantity demanded responds to this price increase depends on theAnswer:
A6) The price elasticity of demand is calculated as the absolute value of theAnswer:
A7) The price elasticity of demand refers to theAnswer:
C8) The price elasticity of demand for oranges ________ change if the units of the quantity was changed from pounds to kilograms and ________ change if the units of the price was changed from dollars to cents.Answer:
D9) Suppose the quantity of gasoline is measured in gallons and the price of gasoline is measured in dollars. The price elasticity of demand is 0.67. If the price of gasoline was now measured in cents rather than dollars, the price elasticity of demand would now be4Answer:
B10) To determine the effect a 25 percent increase in the price of apples has on the quantity of apples demanded, you must know the value of theAnswer:
C11) Because of an increase in the price of leather, the average price of a pair of women's dress shoes increased 12 percent. If the price elasticity of demand for women's dress shoes is 0.85, which of the following will happen?Answer:
B12) The price of a good rises by 12 percent and the price elasticity of demand for the good is 0.85. Which of the following is a correct interpretation of these facts?Answer:
D13) If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the price elasticity of demand equalsAnswer:
A14) Suppose that the quantity of pizza demanded decreased by 15 percent after an increase in price of 10 percent. What is the price elasticity of demand for pizza?Answer:
A15) When the price of a movie ticket increases from $5 to $7, the quantity of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for movie tickets?
B16) A rise in the price of oranges from $2.00 to $2.50 per pound decreases the quantity demanded from 2,000 to 1,800 pounds. The price elasticity of demand for oranges is
A17) If the price of a movie ticket increases by 4 percent and the quantity of movies demanded falls by 2 percent, the price elasticity of demand isAnswer:
C18) If the quantity demanded of hamburgers increases by 20 percent when the price decreases by 5 percent, then the price elasticity of demand isAnswer:
B19) Taco Bell's economists determine that the price elasticity of demand for their tacos is 2.0. So, if Taco Bell raises the price of its tacos by 6.0 percent, the quantity demanded will decrease by ________ percent.Answer:
D20) Using average price and average quantity, calculate the price elasticity of demand if a price rise from $8 to $10 and decreases the quantity demanded from 20 units to 15 units. The price elasticity of demand equalsAnswer:
Efficiency and Equity1) All of the following describe the concept of marginal benefit except theAnswer:
C2) The maximum amount of other goods and services that people are willing to give up in order to get one more personal computer is the5Answer:
B3) Which of the following is correct?Answer:
C4) The principle of decreasing marginal benefit implies that theAnswer:
A5) Marginal benefit is theAnswer:
D6) &Value& means theAnswer:
A7) A demand curve measuresAnswer:
D8) The demand curve for CDs shows theAnswer:
B9) Marginal benefitAnswer:
D10) Marginal benefitAnswer:
B11) The demand curveAnswer:
D12) A demand curve can be alsoAnswer:
C13) The demand curve also isAnswer:
B14) The demand curve for coffee is the same as theAnswer:
B15) Consumer surplus is the ________ summed over the quantity bought.Answer:
C16)________ is the difference between the value of a good and the price paid for it summed over the quantity bought.Answer:
B17) Consumer surplus is theAnswer:
C18) Joe receives consumer surplus on the new computer he buys ifAnswer:
C19) When the Smith's were shopping for their present home, the asking price from the previous owner was $250,000.00. The Smith's had decided they would pay no more than $245,000.00 for the house. After negotiations, the Smith's actually purchased the house for $239,000.00. They, therefore, enjoyed a consumer surplus ofAnswer:
C20) Joe is willing to pay $4 for his first slice of pizza and $3 for his second slice of pizza. If the market price is $2, on his two slices of pizza Joe receives a total consumer surplus of
6Chapter 6
Markets in Action1) The short run effect of a decrease in the supply of housing is a ________ in the rent and ________ in the quantity of housing units.Answer:
A2) In the absence of a rent ceiling, the long run adjustment to an initial decrease in the supply of housing isAnswer:
C3) The above table gives the demand schedule and the supply schedule for housing in Anytown, U.S.A. If a price ceiling of $300 is imposed in the housing market, thenAnswer:
B4) The above table gives the demand schedule and the supply schedule for housing in Anytown, U.S.A. If a price ceiling of $600 was imposed in the housing market, thenAnswer:
C5) In the above figure, which of the following shifts shows the effect of severe flooding that destroys many of the apartment buildings in Bigtown?Answer:
B6) A rent ceiling results in a shortage. As a result, which of the following do you expect?
D7) When a rent ceiling is imposed in a housing market, the opportunity cost of housing equals the
C8) A rent ceiling results in a shortage. As a result, which of the following do you expect?
C9) The above figure shows the apartment rental market in Bigtown. At what rent will there be neither a shortage nor a surplus of apartments?Answer:
C10) The above figure shows the apartment rental market in Bigtown. If severe flooding resulted in the destruction of many of the city's apartment buildings, then theAnswer:
A11) The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing Authority imposes a rent ceiling below $750 per month, the rent ceiling will helpAnswer:
B12) The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing Authority imposes a rent ceiling above $750 per month, the ceiling willAnswer:
D13) The above figure shows the apartment rental market in Bigtown. If there is a shortage of 200,000 apartments in the Bigtown rental market, it may be because the Bigtown Housing Authority has imposed a rentAnswer:
B14) The above figure shows the apartment rental market in Bigtown. If the market is in equilibrium and then the Bigtown Housing Authority imposes a rent ceiling of $500 per apartment, which of the following would occur?Answer:
B15) The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing
7Authority imposes a rent ceiling of $500 per apartment, the deadweight loss will be
C16) The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, how many apartment units are rented?Answer:
B17) The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, what is the rent?Answer:
B18) The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, there isAnswer:
D19) The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $400, how many apartment units are rented?Answer:
A20) The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $400, what is the rent?Answer:
Utility and Demand1) A household's consumption choices cannot exceed limits created byAnswer:
C2) In order to determine a household's budget line, you must know theAnswer:
A3) Suppose we know that Freddy likes to consume only two things: Fritos and Fruit Drinks. If we know only that Fritos and Fruit Drinks cost $1 each, we canAnswer:
D4) Jake plans to spend $100 on fried chickens and Pepsi. The price of a fried chicken is $5 and Pepsi is $2 per bottle. If Jake buys 10 fried chickens how many bottles of Pepsi can he buy?
C5) Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?Answer:
C6) Larry spends all his $800 monthly income on pizza and gasoline. The price of pizza is $4 a slice, and the price of gasoline is $2 per gallon. If Larry buys 150 slices of pizza per month, his budget constraint will allow him to buy ________ gallons of gas per month.Answer:
A7) Larry spends all his $800 monthly income on pizza and gasoline. The price of pizza is $4 a slice, and the price of gasoline is $2 per gallon. The relative price of gasoline isAnswer:
B8) Larry spends all his $800 monthly income on pizza and gasoline. The price of pizza is $4 a slice, and the price of gasoline is $2 per gallon. Larry's real monthly income in terms of pizza is8Answer:
C9) The figure above shows Tanya's consumption possibilities. Tanya spends $100 per month on movies and restaurant meals. The price of a movie ticket is ________ and the price of a restaurant meal is ________.Answer:
D10) The figure above shows Tanya's consumption possibilities. Which of the following combinations of goods is not affordable?Answer:
C11) The figure above shows Tanya's consumption possibilities when the price of a restaurant meal is $20. If the price of a restaurant meal falls to $10 and Molly buys 12 movie tickets, how many restaurant meals can she buy?Answer:
C12) Total utility describesAnswer:
A13) The total benefit that a person gets from the consumption of goods and services is called
A14) A measure of all the benefit you get from all the coffee you consume is yourAnswer:
C15) Which of the following statements is true?Answer:
B16) If we describe Lola's total satisfaction she receives from eating pizza, we are referring to Lola'sAnswer:
B17) The figure above shows how your total utility changes with the number of bananas you consume. How many units of total utility would you get if you consumed four bananas each week?Answer:
D18) Marginal utility is theAnswer:
B19) ________ is the additional satisfaction a person receives from consuming an extra unit of a good.Answer:
B20) The measure of the benefit you get from consuming the next cup of coffee is your
Possibilities, Preferences, and Choices1) Which of the following is NOT a divisible good?Answer:
D2) A consumer's budget line depictsAnswer:
B3) In order to draw an individual's budget line, we must knowAnswer:
B4) Junkfood Jill spends all of her income on jellybeans and Jolt cola. Suppose that Jill's income is
9$30, the price of a bag of jellybeans is $6, and the price of a bottle of Jolt cola is $2. Which of the following combinations of jellybeans and Jolt cola lies inside of Jill's budget line?
D5) Junkfood Jill spends all of her income on jellybeans and Jolt cola. Suppose that Jill's income is $30, the price of a bag of jellybeans is $6, and the price of a bottle of Jolt cola is $2. If bags of jellybeans are graphed along the vertical axis and bottles of Jolt cola are graphed along the horizontal axis, what is the slope of the budget line?Answer:
D6) Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. What is the maximum amount of pizza Dave can buy each week?Answer:
B7) Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 15 pizza each week, what is the maximum number of magazines can he buy?Answer:
C8) Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 20 magazines per week, which of the following amount of pizza is not affordable to him?Answer:
B9) Jake plans to spend $200 on fried chickens and Pepsi. The price of a fried chicken is $7 and Pepsi is $2.60 per bottle. If Jake buys 10 fried chickens how many bottles of Pepsi can he afford?Answer:
B10) Ron spends $150 on movie tickets and pizza. The price of a pizza is $10 and a movie ticket is $7.50. If Ron buys 9 movie tickets how many pizzas can he afford?Answer:
B11) Nick consumes two goods, chips and lemonade. Located on the x-axis is the quantity of chips and on the y-axis is the quantity of lemonade. The slope of the budget line equals the negative of theAnswer:
C12) Goods that can be bought in any quantity desired are calledAnswer:
A13) For a consumer, a budget line shows the boundary betweenAnswer:
C14) The limit on people's consumption choices is determined byAnswer:
C15) Sam buys gasoline and coffee each week. In order to draw his budget line between gasoline and coffee, Sam would have to knowAnswer:
D16) If Sam has $60.00 each week to spend on gasoline and coffee, and their respective prices are $1.50 per gallon and $3.00 per pound, which of the following equations represents his budget line?Answer:
C1017) Suppose the price of coffee is $3, the price of a bagel is $2 and a person's budget is $40. The budget line's equation isAnswer:
B18) The slope of a budget line reflectsAnswer:
C19) Jake spends $200 on fried chickens and Pepsi. The price of a fried chicken is $5 and Pepsi is $2.50 per bottle. With the quantity of Pepsi being measured along the vertical axis, the slope of Jake's budget line is ________ per fried chicken.Answer:
D20) Ron spends $150 on movie tickets and pizza. The price of a pizza is $10 and a movie ticket is $7.50. With the quantity of movies measured along the vertical axis, the slope of Ron's budget line (with movies on the vertical axis) is ________ per pizzaAnswer:
Organizing Production1) An institution that hires productive resources and organizes them to produce and sell goods and services is calledAnswer:
C2) A firm's basic goal is to maximize itsAnswer:
A3) What is the main goal of a firm?Answer:
C4) A firm's goal is best described asAnswer:
D5) A firm's basic goal is best described asAnswer:
C6) The value of a firm's best alternative use of its resources is called itsAnswer:
D7) The value of the firm's best alternative use of its resources is defined as itsAnswer:
D8) Opportunity cost differs from the costs measured by an accountant because opportunity cost includes allAnswer:
B9) Opportunity cost equalsAnswer:
D10) If instead of working on his own as a consultant making $25,000, Joe takes a job at a bank, the $25,000 isAnswer:
A11) Mr. Sweet opened a candy store. He rented a building for $30,000 a year. During the first year of operation, Sweet paid $40,000 to his employees, $10,000 for utilities, and $20,000 for goods he bought from other firms. His total revenue was $135,000. Sweet's best alternative to running this candy store is to work for Wal-Mart as a sales associate for $15,000 a year. What is Sweet's total opportunity cost?11Answer:
D12) A firm pays its workers $10 per hour. This cost is an example of anAnswer:
D13) Explicit costs differ from implicit costs in thatAnswer:
B14) Mr. Sweet opened a candy store. He rented a building for $30,000 a year. During the first year of operation, Sweet paid $40,000 to his employees, $10,000 for utilities, and $20,000 for goods he bought from other firms. His total revenue was $135,000. Sweet's best alternative to running this candy store is to work for Wal-Mart as a sales associate for $15,000 a year. What are Sweet's explicit costs?Answer:
B15) Pippi owns a pizza parlor. If Pippi owns a pizza oven, for its use she incurs ________. If she rents a pizza oven, for its use she incurs ________.Answer:
A16) The opportunity cost that a firm incurs for using a resource that it already owns is called
B17) Costs as measured by accountants generally do not include anyAnswer:
C18) A firm incurs implicit costs whenAnswer:
C19) Cost, as measured by an accountant, generally does not includeAnswer:
A20) Which of the following are two components of the opportunity cost of using capital already owned by the firm?Answer:
Chapter 10
Output and Costs1) A period of time in which the quantity of at least one factor of production used by a firm is fixed is called theAnswer:
C2) Economists define the short run as a period of time so short thatAnswer:
D3) The short run is a time frame in whichAnswer:
A4) In the short run,Answer:
B5) In the short runAnswer:
C6) The short run is a time period during whichAnswer:
C7) The short run is defined asAnswer:
A8) The short run12Answer:
D9) When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of many of its employees. The company cannot, however, increase electric power production by building additional generating capacity. This means that the company is in the
B10) An example of a fixed factor of production isAnswer:
A11) A period of time in which the quantity of all factors of production used by a firm can be varied is called theAnswer:
D12) In the long run, a firm hasAnswer:
A13) The long runAnswer:
D14) The long run is a period of time in whichAnswer:
A15) Which of the following is characteristic of the long run?Answer:
C16) After constructing a new factory, the cost of building the factory is aAnswer:
D17) Total product isAnswer:
B18) All the production points that lieAnswer:
D19) The marginal product of labor is equal to theAnswer:
B20) Marginal product isAnswer:
Chapter 11
Perfect Competition1) Which of the following is a defining characteristic of a perfectly competitive industry?
C2) Which of the following is true regarding a perfectly competitive firm?Answer:
D3) Which of the following is true regarding perfect competition?Answer:
C4) Which of the following is NOT an assumption of perfect competition?Answer:
C5) Which of the following is NOT an assumption of perfect competition?Answer:
A6) Which of the following is NOT an assumption of perfectly competitive markets?
D137) Perfect competition implies thatAnswer:
D8) A perfectly competitive industry is characterized byAnswer:
D9) Perfect competition exists in an industry ifAnswer:
A10) An industry is perfectly competitive ifAnswer:
C11) Which of the following is NOT an assumption of perfect competition?Answer:
C12) Which of the following is NOT a defining characteristic of perfectly competitive industries?
D13) Which of the following is NOT a characteristic of a perfectly competitive industry?
C14) Which of the following is NOT a characteristic of perfect competition?Answer:
C15) In order for perfect competition to arise, it must be the case thatAnswer:
D16) If the minimum efficient scale of a firm is small relative to the demand for the good, then
A17) In perfect competition, theAnswer:
A18) Which of the following conditions is consistent with perfect competition?Answer:
B19) An example of a perfectly competitive industry isAnswer:
B20) An example of a perfectly competitive firm isAnswer:
Chapter 12
Monopoly1) Market power is theAnswer:
C2) A monopoly is best defined as a firm thatAnswer:
A3) An example of a monopoly isAnswer:
C4) An example of a monopoly would beAnswer:
D5) A monopolistAnswer:
C6) Which of the following is NOT a characteristic of a monopoly?Answer:
D7) Which of the following is a characteristic of a monopoly?14Answer:
D8) Which of the following is a characteristic of monopoly?Answer:
C9) Which of the following can create a monopoly?Answer:
D10) A barrier to entry isAnswer:
A11) DeBeers monopolizes the world's diamond supply because itAnswer:
C12) If the government grants a firm a public franchise to supply coal, a monopoly is created by
B13) Which of the following is NOT a barrier to entry for a monopoly?Answer:
C14) Which of the following is a barrier to entry for a monopoly?Answer:
A15) Which of the following is NOT a legal barrier to entry?Answer:
D16) Patents encourage invention byAnswer:
C17) Suppose a new vaccine for Lyme disease is developed by Merck, a large drug company. Which of the following is most likely to occur?Answer:
A18) Patents encourage inventions because without a patentAnswer:
A19) A legal monopoly is defined as a market whereAnswer:
B20) Natural monopolies occur when there areAnswer:
Chapter 13
Monopolistic Competition and Oligopoly1) In monopolistic competition, there areAnswer:
A2) ACME, Inc. operates in a market structure in which there are many other firms that find it easy to enter or exit. ACME is operating in ________ market.Answer:
B3) A characteristic of monopolistic competition isAnswer:
C4) Which of the following is a characteristic of monopolistic competition?Answer:
A5) Monopolistic competition is a market structure in whichAnswer:
B6) Monopolistic competition is a market structure in whichAnswer:
A157) Monopolistic competition is a market structure in whichAnswer:
C8) Monopolistic competition is a market structure in whichAnswer:
D9) Which of the following is NOT a characteristic of monopolistic competition?Answer:
B10) The key feature of monopolistic competition that distinguishes it from perfect competition is
D11) Which of the following statements is FALSE concerning monopolistic competition?
C12) The existence of a large number of firms in monopolistic competitionAnswer:
A13) All of the following characteristics apply to monopolistic competition EXCEPTAnswer:
B14) Which of the following is NOT true of firms in monopolistic competition?Answer:
A15) Which of the following is NOT a characteristic of the market structure for monopolistic competition?Answer:
B16) In monopolistic competition, the presence of a large number of firms making a differentiated product means thatAnswer:
A17) In monopolistic competition, each firm supplies a ________ part of the total industry output and its actions ________ the actions of the other firms.Answer:
A18) Dole Co. operates in a monopolistically competitive market. Which of the following characterizes Dole Co.'s market?Answer:
D19) Monopolistic competition differs from monopoly because in monopolistic competition
D20) In monopolistic competition, firms compete on the basis ofAnswer:
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