Chapter 1-6
MULTIPLE CHOICE. Choo the one alternative that best completes the statement or answers the question.
1)
Which of the following is the best definition of economics?
dead and goneA)
the study of choices made by people who are faced with scarcity
B)
the study of how consumers spend their income
西班牙阵容C)
the study of how business firms decide what inputs to hire and what outputs to produce
D)
the study of how the federal government allocates tax dollars
heaton
2)
The choice of the distribution of products means answering the question(s) of:
A)
what products to produce.
B)
how to produce the products.
C)
who consumes the products.
D)
both how to produce and who consumes the products.
3)
Which of the following is a normative statement?
A)
Health care costs too much.
respectable
B)
Pharmaceutical companies earn profits from the sale of prescription drugs.
C)
Hospitals are under increasing pressure to cut costs.
D)
all of the above
4)
Economists make certain assumptions in order to:
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A)
focus attention on what really matters.
B)
come up with simple answers for complicated questions.
C)
avoid addressing the most difficult part of the problems they deal with.
D)
distract attention from what really matters.
5)
Economists u the phra "ceteris paribus" to express the assumption:
A)
"other things being equal."
B)
"everything affects everything el."
C)
"scarcity is a fact of life."
D)
"there is no such thing as a free lunch."
6)
Which of the following is a marginal question?
A)
If I buy a ud laptop computer instead of a new one, how much money do I save?
B)
If I play the lottery, what are my chances of winning?
C)
If I find a job, how much would I have to pay in social curity taxes?
D)
goldmine
If I skip another lecture, how much would my final grade suffer?
7)
If you own a building and you decide to u that building to open a restaurant:
A)
there is no opportunity cost of using this building for a restaurant becau you own it.
B)
there is an opportunity cost of using this building for a restaurant becau it could have been ud in other ways.
C)
the only cost relevant to this decision is the price you paid for the building.
D)
none of the above
8)
Frank spends his weekly allowance of $20 on two goods: compact discs (CDs) and hamburgers. The price of a CD is $10 and the price of a burger is $2. The opportunity cost of purchasing a CD is:
A)
10 burgers.
B)
1/5 burger.
C)
5 burgers.
D)
2 burgers.
9)
A society can produce two goods: bread and cookies. The society's production possibilities curve is negatively sloped and "bowed outward" (concave) from the origin. As this society moves down its production possibilities curve producing more and more units
of cookies, the number of loaves of bread that it must give up:
A)
decreas.
B)
remains constant.
C)
increas.
D)
could decrea or increa depending on the technology.
Table 2.1
10)
Mary owns a stationary store. The store's revenues depend on the number of hours the s
tore is open each day as shown in Table 2.1. Each hour the store is open costs $20. If Mary follows the marginal principle, she should keep her store open ________ hours each day.
A)
3
B)
4
C)
5
D)
6
Figure 2.8
11)
Darcy spends her time either at work or reading romance novels. Figure 2.8 shows the marginal benefit of each hour Darcy spends reading. If she can earn $10 an hour at work, Darcy should spend ________ hours a day reading romance novels.
A)
6
B)
8
C)
10
D)
12
12) conflicting
According to the principle of diminishing returns, increasing one production input while holding the other input fixed yields:
A)
progressively smaller amounts of output.
B)
marginally larger amounts of output.
C)
negative amounts of output.
江畔独步寻花的意思诗意
due dateD)
double the output.
13)
Diminishing returns can be avoided if:
A)
all factors of production are incread simultaneously.
B)
the variable factor of production is incread in small amounts.
C)
the fixed factor of production is decread in half.
D)
none of the above.
14)
Joe has worked in a candy shop for the past five years without receiving an increa in his wage. If the prices of goods and rvices Joe buys have rin over the past five years:
A)
Joe's nominal wage has fallen while his real wage has remained the same.
B)
怎么报名参加雅思Joe's real wage has fallen, while his nominal wage has remained the same.
C)
Joe's nominal wage and his real wage have fallen.
D)
Joe's nominal wage has incread, while his real wage has fallen.
