基础经济学(Basic economics)

基础经济学（Basic economics）
First, individual choice
1., when other conditions remain unchanged, an increase in consumer income will lead to normal goods
A. demand increases;
B. demand decreases;
C. demand increases and
D. demand decreases.
2., in () circumstances, equilibrium prices are bound to rise.
A. both demand and supply have increased;
B. demand and supply have decreased;
C. demand increases, supply decreases;
D. demand decreases and supply increases.
The absolute value of the slope of a point on the 3. constant yield curve.
Marginal conversion A. two commodity rate; B. two elements of the marginal rate of substitution; "
C. The ratio of the prices of two commodities; the marginal rate of substitution of
D. for two commodities.
4. in a perfectly competitive market, if the price is equal to the long-run average cost, then.
A. industry, the number of manufacturers unchanged;
B. original
manufacturers quit the industry;
C. new manufacturers to enter this industry;
D. both manufacturers to enter, but also manufacturers out of the industry.
5., long-term equilibrium, monopolistic competition vendors ().
A. gets an excess profit;
B. gets a normal profit;
C. loss;
D. loss; uncertainty.
6., a firm is both a seller monopolist and a buyer monopolist in the factor market, and the principle of its use factor is ().
A.VMPL=W; b.VMPL=MFCL; the c.MRPL=W d.MRPL=MFCL.
7. in the economies of only two (A and B) and two commodities (L and K) producing two commodities (X and Y), the general equilibrium condition of exchange is ().
A. share in
B.;
C.;
D. share.
8. in order to effectively allocate scarce resources, requirements ().
A. society MR equals society MC;
B. society MR is equal to
private MC;
C. private MR is equal to private MC;
D. private MR equals social MC;
9. if the current price is lower than the base price, then this period ().
A. the actual GDP is equal to the nominal GDP; the actual GDP of the
B. is less than the nominal GDP;
C. the actual GDP is greater than the nominal GDP; whether the actual GDP of the
D. is less than the nominal GDP is uncertain.
10. in the revenue decision model of the four sector of the product market, the government increases the purchase expenditure and tax at the same time, GDP ().
A. will decline, and decline in the amount equal to the tax increase the amount;
B. will decline, but the decline is less than the amount of the tax increase;
C. will increase, and increase the amount of government spending increases the amount;
D. will increase, but the increase will be less than the increase in government purchases.
11., when interest rates fall very low, the risk of buying bonds
will be.
A. becomes very small;
B. becomes very large;
C. may be large or very small;
D. does not change.
12. as the price level rises, the actual money supply.
A. increases;
B. decreases;
C. does not change;
D. may increase; may decrease.
13. unemployment due to economic depression is ().
A. cyclical unemployment;
B. structural unemployment;
C. frictional unemployment;
D. natural unemployment.
14. if the GNP of a country is less than GDP, it shows the income of the resident of the country from the foreign territory () the income of the foreign resident from the territory of the country.
A. greater than;
B. less than;
C. equal to; D may be greater than may be less than;
15. if a consumer, he will ().
A. reduces X purchases and reduces Y purchases;
B. increases X purchases and increases Y purchases;
C. increases X purchases and reduces Y purchases;
D. reduces
X purchases and increases Y purchases.
Two. NOUN explanation:
1. Gini coefficient;
2. marginal rate of substitution;
3. crowding out effect;
4. marginal efficiency of capital.
Three. Discrimination questions:
1. in the short run, when the product price is less than the product cost, that is, the loss, manufacturers should stop business.
2. the interest paid by the government to buy government bonds and the interest earned on the purchase of corporate bonds should be included in the GDP.
3. for individual workers, the substitution effect of wage rate or leisure price change is always greater than the income effect.
4., as far as neoclassical macroeconomics is concerned, as long as the government publicly announces the implementation of an inflationary tightening of monetary policy, society can reduce its inflation rate without reducing employment and production.
Four. Questions and answers
1., how does externalities affect the allocation of resources? Why is it clear that property rights can eliminate
externalities when transaction costs are zero?
Two
The decisive factors of the function mechanism of monetary policy and the role of monetary policy are discussed.
Five. Calculation questions
1. cost constant the long-run cost function of a perfectly competitive firm in the industry is:
LTC (q = 0.1q34q2100q for manufacturers, production) market demand function: Q = 9000100P (Q is the industry's sales). O:
(1) long-term equilibrium output and selling price;
(2) long-term balanced output of the industry;
(3) the number of firms in a long-term equilibrium.
2., assuming that the government's current budget deficit is $15 billion, the marginal propensity to consume is c=0.8, and the marginal tax rate is t=0.25. If the government reduces its inflation rate, it will spend less than 40 billion dollars. How can this change in spending ultimately eliminate the deficit?
Answers and analysis
First, individual choice
1.c;
2.c; 4.a; 5.b; 6.d;
3.b; 7.b; 8.a; 9.c; 10.d;; 11.b; 12.b;
13.a; 14.b; 15.c.
Two. Noun explanation
1. Gini coefficient refers to the enclosed Lorenz curve Lorenz curve equal area and the income distribution of the Lorenz curve completely equal income distribution with the actual Lorenz curve surrounded with unequal income distribution complete area ratio. It measures the degree of equality of income distribution in a country. The greater the Gini coefficient, the income distribution is more unequal.
2. marginal rate of substitution refers to the amount of other goods that consumers are willing to reduce by adding one unit of a commodity at the same level of preference and level of satisfaction.
3., the crowding out effect refers to an increase in the structural deficit caused by government spending increases and tax cuts. It is possible to raise interest rates and reduce private investment.
4., the marginal efficiency of capital is a kind of discount rate, which makes the present value of the expected return of a capital product equal to the reset price of the capital product. It is negatively related to the reset price of capital goods, and positively related to the expected return of capital.
Three. Discrimination questions
1. wrong. In the short run, when the product price is less than the product cost, that is, the loss, as long as the price is greater than the average variable costs, manufacturers should still produce. Because the losses incurred during production (less than the fixed costs) are always less than the losses incurred when the business is closed (fixed costs). Only when the price is not only less than the cost of the product, but also smaller than the average variable costs, manufacturers will stop business.
2. wrong. The interest that people buy bonds should not be included in the GDP, and the interest payable on the purchase of corporate bonds should be included in the GDP. This is because the interest income from the purchase of corporate bonds comes directly from the sales revenue of the product, and of course it is included in the GDP according to the income method. The interest on government bonds comes directly from taxes, which are included in the GDP, which is calculated by income. As a result, the interest on government bonds can no longer be credited to the GDP, otherwise it will be repeated.
3. wrong. For a single worker, when the wage rate is relatively low, the substitution effect of wage rate changes is greater than the income effect, that is, the amount of labor supply increases with the increase of the wage rate. When the wage rate is higher, the substitution effect of wage rate change is less than the income effect, that is, the labor supply decreases with the increase of the wage rate. Thus, the individual labor supply curve is bent backwards.
4. pairs. Neoclassical macroeconomics argues that changes in monetary policy, if desired, have no impact on production and employment levels, even in the short run. The expected monetary contraction will allow rational parties to correct their inflation expectations immediately. Thus, in theory, monetary authorities can reduce inflation without any yield or employment costs, that is, the central bank's cost of reducing inflation is zero. Therefore, there is no need to follow the progressive monetary policy advocated by Orthodox monetarism. The authorities may only need to declare a reduction in the rate of monetary expansion so that inflation can fall to its desired target without paying any social cost.
Four. Questions and answers
1. answer: "externality" means that the behavior of an economic entity has brought certain effects to others, and has not been included in the transaction price. There are two kinds of positive externalities and negative externalities. Externality is not conducive to rational allocation of resources. If a product in the production of "positive externalities", is the product of the marginal social benefit is greater than the marginal social cost, from the point of view of society, the production is too small; if a product in the production of "negative externality", is the product of social marginal revenue is less than the marginal social cost, from society point of view, the product is too much.
Externality is essentially the result of unclear property rights. Under the condition that the transaction cost is zero, the clarification and transaction of the property right can
internalize the externality and eliminate the externality. Two。