微观经济学的练习试题以与答案解析英文版.docx
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微观经济学的练习试题以与答案解析英文版.docx
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Chapter01ThinkingLikeanEconomist
MultipleChoiceQuestions
1.Economicsisbestdefinedasthestudyof:
A.pricesandquantities.
B.inflationandinterestrates.
C.howpeoplemakechoicesundertheconditionsofscarcityandtheresultsofthosechoices.
D.wagesandincomes.
2.Economicquestionsalwaysdealwith:
A.financialmatters.
B.politicalmatters.
C.insufficientresources.
D.choiceinthefaceoflimitedresources.
3.Therangeoftopicsorissuesthatfitwithinthedefinitionofeconomicsis:
A.limitedtomarketactivities,e.g.,buyingsoap.
B.limitedtoindividualsandfirms.
C.extremelywide,requiringonlytheideasofchoiceandscarcity.
D.verylimited.
4.Thecentralconcernofeconomicsis:
A.poverty.
B.scarcity.
C.wealthaccumulation.
D.overconsumption.
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5.Thescarcityprincipleindicatesthat:
A.nomatterhowmuchonehas,itisneverenough.
B.comparedto100yearsago,individualshavelesstimetoday.
C.withlimitedresources,havingmoreof"this"meanshavinglessof"that."
D.becausetradeoffsmustbemade,resourcesarethereforescarce.
6.Thelogicalimplicationofthescarcityprincipleisthat:
A.onewillneverbesatisfiedwithwhatonehas.
B.aswealthincreases,makingchoicesbecomeslessnecessary.
C.aswealthdecreases,makingchoicesbecomeslessnecessary.
D.choicesmustbemade.
7.Ifalltheworld'sresourcesweretomagicallyincreaseahundredfold,then:
A.thescarcityprinciplewouldstillgovernbehavior.
B.economicswouldnolongerberelevant.
C.thescarcityprinciplewoulddisappear.
D.tradeoffswouldbecomeunnecessary.
8.Theprincipleofscarcityappliesto:
A.thepoorexclusively.
B.allconsumers.
C.allfirms.
D.everyone—consumers,firms,governments,andnations.
9.Attheveryleast,JoeAverageandBillGatesarebothidenticallylimitedby:
A.theirwealth.
B.the24hoursthatcompriseaday.
C.theirknowledge.
D.theirinfluence.
10.ForestisamountainmanlivingincompleteisolationinMontana.Heiscompletelyself-sufficientthroughhunting,fishing,andfarming.Hehasnotbeeninthecitytobuyanythinginfiveyears.Onecaninfer:
A.thescarcityprincipledoesnotapplytoForest.
B.Forestisnotrequiredtomakechoices.
C.thescarcityprinciplestillappliesbecausemorehuntingmeanslessfishingandfarming.
D.Forestisverysatisfied.
11.Thescarcityprincipleappliesto:
A.alldecisions.
B.onlymarketdecisions,e.g.,buyingacar.
C.onlynon-marketdecisions,e.g.,watchingasunset.
D.onlythepoor.
12.Chrishasaone-hourbreakbetweenclasseseveryWednesday.Chriscaneitherstayatthelibraryandstudyorgotothegymandworkout.ThedecisionChrismustmakeis:
A.notaneconomicproblembecauseneitheronecostsmoney.
B.notaneconomicproblembecauseit'sanhourthatiswastednomatterwhatChrisdoes.
C.aneconomicproblembecausethetuitionChrispayscoversboththegymandthelibrary.
D.aneconomicproblembecauseChrishasonlyonehourduringwhichhecanstudyorworkout.
13.Joshwantstogotothefootballgamethisweekend,buthehasapaperdueonMonday.Itwilltakehimthewholeweekendtowritethepaper.Joshdecidedtostayhomeandworkonthepaper.Accordingtothescarcityprinciple,thereasonJoshdidn'tgotothegameisthat:
A.Joshprefersschoolworktofootballgames.
B.writingthepaperiseasierthangoingtothegame.
C.Joshdoesn'thaveenoughtimeforwritingthepaperandgoingtothegame.
D.it'stooexpensivetogotothegame.
14.WhetherstudyingthesizeoftheU.S.economyorthenumberofchildrenacouplewillchoosetohave,theunifyingconceptisthatwantsare:
A.limited,resourcesarelimited,andthuschoicesmustbemade.
B.unlimited,resourcesarelimited,andthuschoicesmustbemade.
C.unlimited,resourcesarelimitedtosomebutnottoothers,andthussomepeoplemustmakechoices.
D.unlimited,resourcesarelimited,andthusgovernmentneedstodomore.
15.Thecost-benefitprincipleindicatesthatanactionshouldbetaken:
A.ifthetotalbenefitsexceedthetotalcosts.
B.iftheaveragebenefitsexceedtheaveragecosts.
C.ifthenetbenefit(benefitminuscost)iszero.
D.iftheextrabenefitisgreaterthanorequaltotheextracosts.
16.Whenapersondecidestopursueanactivityaslongastheextrabenefitsareatleastequaltotheextracosts,thatpersonis:
A.violatingthecost-benefitprinciple.
B.followingthescarcityprinciple.
C.followingthecost-benefitprinciple.
D.pursuingtheactivitytoolong.
17.Choosingtostudyforanexamuntiltheextrabenefit(improvedscore)equalstheextracost(mentalfatigue)is:
A.notrational.
B.anapplicationofthecost-benefitprinciple.
C
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