微观经济学练习章 1.docVIP

Chapter 1 Getting Started Checkpoint 1.1 Definition and Questions 1.1.1) Scarcity A) is the inability to satisfy all our wants. B) leads to higher prices. C) applies only to people living in poverty. D) is not something that affects very rich people. E) used to exist everywhere but has been eliminated in advanced economies. 1.1.2) The study of economics is best described as a study of A) the factors that influence the stock and bond markets. B) capitalism. C) the choices made in producing goods and services. D) coping with scarcity, and choices made as a result of scarcity in a society. E) how people earn a living. 1.1.3) Scarcity requires that we A) produce efficiently. B) learn to limit our wants. C) have the most rapid economic growth possible. D) have unlimited resources. E) make choices about what goods and services to produce. 1.1.4) The problem of scarcity A) is found only in the United States. B) is found only in poor countries. C) means that we must make choices. D) is the result of the fact that we have unlimited resources. E) is the result of the fact that people make choices based on their self-interest. 1.1.5) Scarcity means that A) what we can produce with our resources is greater than our material wants. B) resources are unlimited. C) wants are greater than what we can produce with out resources. D) governments must make up for shortages in resources. E) choices made in self-interest cannot be the same as those made in the social interest. 1.1.6) Because human wants are insatiable and unlimited while available resources are limited, people are said to face the problem of A) scarcity. B) why to produce. C) macroeconomics. D) microeconomics. E) social interest versus self-interest. 1.1.7) Society?s ability to satisfy our wants A) is limited by available productive resources. B) is accomplished by eliminating scarcity. C) is unrelated to incentives we face. D) means that only the poor face scarcity. E) means that socially interested choices must conflic