黄新飞 《微观经济学》英文习题解答Chapter4.docVIP

Chapter 1 1. Economic analysis: A) involves some simplifications of reality. B) is only vaguely related to reality because if it did so coincide, it would not still be theory. C) is impossible, because of the impossibility of a controlled experiment. D) if it is good theory, involves no simplification of reality. E) involves so much distortion of reality as to be worthless. Ans: A 2. What are economic goods? A) Goods that are very expensive. B) Goods that are in scarce or limited supply. C) Goods that a country produces and then trades to another county. D) Goods that are vital to an individuals welfare. E) All of the above. Ans: B 3. Scarcity in economics refers basically to: A) periods of famine. B) monopolization of existing supplies of goods. C) monopolization of resources to provide goods. D) monopolization of outlets to sell goods. E) none of the above. Ans: E 4. Distribution in economics refers to: A) retailing, wholesaling, and transportation. B) what. C) how. D) for whom. E) none of the above. Ans: D 5. The three questions of what, how, and for whom: A) relate to the three factors of production. B) exist because of scarcity. C) are more of a problem in a market economy. D) are more of a problem in a command economy. E) are no longer relevant. Ans: B 6.The description of economics as, cool heads in the service of warm hearts, means that: A) allocating scarce resources may require painful decisions. B) costs and benefits need to be weighed objectively. C) the proper balance must be struck between the discipline of the market and the generosity of the welfare state. D) all of the above. E) none of the above. Ans: D 7. When moving along a production possibilities frontier, the opportunity cost to society of obtaining more of one of the two goods: A) is measured in dollar terms. B) usually decreases as more of the good is produced. C) is measured by the amount of the other goo