微观经济学英文作业答案(chap1-chap13)

1Microeconomics,8e(Parkin)Testbank2Answer（chap1-chap13）Chapter1WhatIsEconomics?1)AninducementtotakeaparticularactioniscalledAnswer:D2)AlleconomicquestionsarisebecauseweAnswer:A3)AlleconomicquestionsarisebecauseAnswer:C4)ScarcityisAnswer:A5)ScarcityarisesfromAnswer:C6)Whenaneconomisttalksofscarcity,theeconomistisreferringtotheAnswer:C7)ScarcityisexperiencedbyAnswer:D8)FundamentaleconomicproblemsbasicallyarisefromAnswer:D9)ScarcityexistsbecauseAnswer:B10)ScarcitycanbeeliminatedthroughAnswer:D11)ScarcityiscommontoalleconomicsystemsbecauseresourcesareAnswer:D12)PeoplemustmakechoicesbecauseAnswer:B13)TheproblemofscarcityappliesAnswer:D14)WhenawealthybusinessmanisunabletobuyticketstotheSuperBowl,heorsheexperiences________.Answer:B15)Ineveryeconomicsystem,choicesmustbemadebecauseresourcesare________andourwantsare________Answer:B16)ThefundamentalquestionsineconomicsresultfromAnswer:D17)EconomicsisbestdefinedasAnswer:C18)ThestudyofeconomicsAnswer:B19)EconomicsisbestdefinedasthescienceofchoiceandhowpeoplecopewithAnswer:C220)Whichofthefollowingbestdefinesthesubjectofeconomics?Answer:DChapter2TheEconomicProblem1)TheproductionpossibilitiesfrontierrepresentsAnswer:C2)Aproductionpossibilitiesfrontier(PPF)Answer:B3)WhichofthefollowingisNOTtrueconcerningasociety'sproductionpossibilitiesfrontier(PPF)?Answer:D4)ApointoutsideaproductionpossibilitiesfrontierindicatesAnswer:B5)AproductionpossibilitiesfrontierillustratesthemaximumamountoftwodifferentgoodsthatcanbeproducedifAnswer:A6)WhichofthefollowingisNOTillustratedbyaproductionpossibilitiesfrontier?Answer:D7)SupposethecountryofPopcornproducesonlyjetsandcorn.IfPopcorncannotproduceanymorejetswithoutgivingupcorn,wesaythatPopcornhasachievedAnswer:B8)ProductionefficiencycanbedefinedasAnswer:C9)AsocietythatisonitsproductionpossibilitiesfrontierisAnswer:D10)Ifaneconomyisoperatingatapointinsidetheproductionpossibilitiesfrontier,thenAnswer:A11)Anypointonaproductionpossibilitiesfrontier(PPF)itselfisAnswer:A12)AreductionintheamountofunemploymentAnswer:B13)AcountrythatmustdecreaseproductionofonegoodinordertoincreasetheproductionofanotherAnswer:B14)ApresidentoftheUnitedStatespromisestoproducemoredefensegoodswithoutanydecreasesintheproductionofothergoods.ThispromisecanbevalidAnswer:B15)Whenproducinggoodsandservices,tradeoffsexistbecauseAnswer:B16)OpportunitycostisbestdefinedasAnswer:C17)Achoiceismade.Thevalueofthehighest-valuedalternativegivenupisthe________ofthechoicemade.3Answer:C18)Opportunitycostisexpressedinaproductionpossibilitiesfrontier(PPF)byamovementAnswer:D19)WhenoperatingonitsPPF,acountrycanproduce2tonsofbutterand200carsOR3tonsofbutterand150cars.Theopportunitycostof1tonofbutteris________carspertonofbutter.Answer:C20)Whenmovingalongtheproductionpossibilitiesfrontier,opportunitycostismeasuredastheAnswer:BChapter3DemandandSupply1)TherelativepriceofagoodisAnswer:A2)Allofthefollowingstatementsaretrueexcept:Answer:C3)Joepays$8,000.00intuition.The8,000dollartuitionJoepaysisanexampleofwhateconomistscallAnswer:B4)ArelativepriceisAnswer:D5)Supposethepriceofafootballis$20.00andthepriceofabasketballis$10.00.The_______ofafootballis________.Answer:A6)Thepriceofafilmcamerais$150andthepriceofasimilardigitalcamerais$300.Whatistherelativepriceofthedigitalcamera?Answer:C7)Thepriceofavideotaperentaliscurrently$1.50andthepriceofaDVDrentalis$2.50.Ifthepriceofavideotaperentalincreasesby$0.50,therelativepriceaDVDrental8)Thepriceofavideotaperentaliscurrently$1.50andthepriceofaDVDrentalis$2.50.Ifthepriceofavideotaperentalfallsby$0.50,therelativepriceaDVDrentalAnswer:A9)Thepriceofabagofcornchipsis$3,andthepriceofabottleofsodais$1.Whatistherelativepriceofabagofcornchips?Answer:A10)Thepriceofabagofcornchipsis$3,andthepriceofabottleofsodais$1.Whatistherelativepriceofabottleofsoda?Answer:B11)Twentyyearsagoastovecost$300andarefrigeratorcost$1,500.Todayastovecosts$600,whilearefrigeratorcosts$1,800.Whichofthefollowingstatementsistrue?Answer:C12)TheABCMusicclubchargesapriceof$8foracassetteand$16foraCD.ForanABCMusicClubmember,theopportunitycostofaCDisAnswer:A413)Ifthemoneypriceofwheatincreasesandnootherpriceschange,theAnswer:B14)Whengraphingademandcurveforcorn,weareshowingtherelationshipbetweenthequantitydemandedofcornandtheAnswer:B15)ThelawofdemandstatesthatchangesinAnswer:C16)ThelawofdemandisillustratedbyaAnswer:C17)Thelawofdemandreferstothefactthat,allotherthingsremainingthesame,whenthepriceofagoodrisesAnswer:D18)Thelawofdemandstatesthat,otherthingsremainingthesame,thequantitydemandedofanygoodisAnswer:A19)ThelawofdemandmostdirectlymeansthatconsumersbuyAnswer:B20)Thelawofdemandstatesthat,otherthingremainingthesame,thehigherAnswer:DChapter4Elasticity1)ElasticitygenerallymeasurestheAnswer:D2)ThepriceelasticityofdemandequalsthemagnitudeoftheAnswer:B3)AnelasticityofdemandismeasuredinAnswer:D4)ThepriceelasticityofdemandisdefinedasthemagnitudeoftheAnswer:C5)Supposethepriceofburgersincreasesfrom$2to$3each.ThedegreetowhichquantitydemandedrespondstothispriceincreasedependsontheAnswer:A6)Thepriceelasticityofdemandiscalcul