【#文档大全网# 导语】以下是®文档大全网的小编为您整理的《经济学原理1-1》，欢迎阅读！
1-1
1. Resources are
scarce for households but plentiful for economies. a.
b. plentiful for households but scarce for economies. c. scarce for households and scarce for economies.
plentiful for households and plentiful for economies. d.
2. Economics is the study of
production methods. a.
b. how society manages its scarce resources. c. how households decide who performs which tasks.
the interaction of business and government. d.
3. Billie Jean has $120 to spend and wants to buy either a new amplifier for her guitar or a new mp3 player to listen to music while working out. Both the amplifier and the mp3 player cost $120, so she can only buy one. This illustrates the basic concept that
trade can make everyone better off. a.
b. people face trade-offs.
c. rational people think at the margin.
decisions made at the margin are not particularly important. d.
4. The opportunity cost of an item is
the number of hours needed to earn money to buy the item. a.
b. what you give up to get that item.
c. usually less than the dollar value of the item.
the dollar value of the item. d.
5. A rational decision maker
a. ignores marginal changes and focuses instead on “the big picture.”
b. ignores the likely effects of government policies when he or she makes choices. c. takes an action only if the marginal benefit of that action exceeds the marginal
cost of that action.
d. takes an action only if the combined benefits of that action and previous actions
exceed the combined costs of that action and previous actions.
6. A tax on gasoline encourages people to drive smaller, more fuel-efficient cars. Which principle of economics does this illustrate?
People face tradeoffs. a.
b. The cost of something is what you give up to get it. c. Rational people think at the margin.
People respond to incentives. d.
7. England can benefit from trade
only with nations that can produce goods England cannot produce. a.
b. only with less developed nations. c. only with nations outside of Europe.
with any nation. d.
8. The "invisible hand" directs economic activity through
advertising. a.
b. prices.
c. central planning.
government regulations. d.
9. One reason we need government, even in a market economy, is that
there is insufficient market power in the absence of government. a.
b. property rights are too strong in the absence of government. c. the invisible hand is not perfect.
Both a and b are correct. d.
10. The term "productivity"
a. means the same thing as "efficiency."
b. is seldom used by economists, as its meaning is not precise.
c.refers to the quantity of goods and services produced from each unit of labor input. d.refers to the variety of goods and services from which households can choose when they shop.
11. An increase in the overall level of prices in an economy is referred to as
the income effect. a.
b. inflation. c. deflation.
the substitution effect. d.
12. In the short run, which of the following is not correct?
Increasing the money supply increases the demand for goods and services. a.
b. Increasing the money supply encourages firms to hire more workers. c. Lowering the money supply leads to a higher level of unemployment.
d.Policies that encourage higher employment will also induce a lower rate of inflation. Case 1-1
You have the afternoon free. You have a choice between going to the movies with a friend or studying economics for three hours. If you go to the movies, you will spend $8.00 on a ticket and $4.50 on popcorn. If you choose to study economics for three hours, you will raise your exam grade by 10 points.
13. Refer to Case 1-1. What is your opportunity cost of going to the movies?
14. Refer to Case 1-1. What is your opportunity cost of studying economics?
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2022-04-29
