Exercise 经济学英语题库.docVIP

Chapter 1-4 The subject of economics includes：( e) a. the study of activities involving money and exchange transactions among people. b. the study of the allocation of scarce resources to the production and distribution of goods and services. c. the study of wealth. d. the study of people in ordinary business life, earning and enjoying life. e. all of the above 2. Economic analysis：( a) 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. 3. The single word that best describes the fundamental problem of economics is：( e) a. employment b. inflation c. prices. d. trade e. scarcity 4. Which of the following statements relates to the concept of efficiency? ( a) a. the absence of waste. b. using resources as effectively as possible. c. being able to produce more of one good only by producing less of something else. d. all the above. e. b. and c. only. 5. The production-possibility frontier of a country can be said to shift outward as a result of the following. Which, if any, is the wrong explanation? ( e) a. Expenditures on new plants and equipment are constantly being made. b. The population increases. c. Better methods of production are developed. d. New oil finds are made. e. All of the above are valid explanations. 6. A shortage of OPEC oil raises oil prices because of：( c) a. the law of elastic supply b. the law of elasticdemand c. the downward-sloping demand curve d. all of the above e. none of the above 7. A drought would probably：( d) a. cause wheat suppliers to move up their supply curves to a higher price. b. induce greater demand for wheat, yielding a higher price. c. cause people to reduce their demand for wheat. d. induce an upward and leftward shift in