Chapter3 Interdependence and the Gains from Trade
曼昆经济学原理第七版第三章
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
9
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
Wheat (tons) 5,000 4,000 3,000 2,000 1,000 0
The U.S. Without Trade
Suppose the U.S. uses half its labor to produce each of the two goods. Then it will produce and consume 250 computers and 2500 tons of wheat.
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
quiz 03 (with answer)
Chapter 3 Interdependence and Trade1. The slope of the production possibilities frontier is determined by ( a )a.the opportunity cost of producing one more unit of the good on the horizontalaxis.b.the market prices of the goods that the economy can produce.c.the distribution of incomes in the economy.d.whether production is performed using efficient or inefficient methods.2. In voluntary exchange between two countries, if one country gains then ( d )a.the other must lose, unless the exchange generates external costs.b.the other country must lose under any circumstances.c.the other country must lose an equal amount.d.there is no reason to expect that the other country must lose.3. International trade tends to occur whenever ( d )bor is cheaper in one country than in another.b.one of the trading nations is self sufficient and producing surplus goods.c.one nation can profit from trade at the expense of the other.d.both nations can benefit from trade.4. If Japan can produce each unit of steel using fewer resources than Canada does, ( b )a.Canada has an absolute advantage in steel production.b.Japan has an absolute advantage in steel production.c.Japan has a comparative advantage in steel production.d.Canada has a comparative advantage in steel production.5. Which of the following statements is true? ( d )a.Exports tend to decrease economic efficiency.b. A nation should specialize in producing a good in which it has an absoluteadvantage.c. A nation should specialize in producing a good only when it has both anabsolute and a comparative advantage.d. A nation should specialize in producing a good in which it has a comparativeadvantage.6. Suppose Russia has an absolute advantage in the production of all goods. In this instance, Russia ( b )a.will have no incentive to engage in international trade.b.should specialize in producing the goods for which it has a lower opportunitycost than other countries.c.also has a comparative advantage in the production of those goods.d.is producing at a point on its production possibilities frontier.7. What can be said regarding absolute advantage in production for the two countries shown in this figure? ( d )Number of workers needed to produce one unit of each of the following goods:KOREA COLUMBIA1 RADIO 3 41 CALCULATOR 6 2a.Colombia has an absolute advantage in producing both calculators and radios.b.Korea has an absolute advantage only in producing calculators.c.Korea has an absolute advantage in producing both radios and calculators.d.Columbia has an absolute advantage only in producing calculators.8. Which of the following will change a nation’s comparative advantage? ( a )a. A technological advance in producing manufactured goods.b. A doubling of all wages.c.Quotas on imports.d. A change in consumers’ preferences for imported goods.9. If a nation does not have an absolute advantage in producing anything, it ( b )a.has no comparative advantage either.b.could have a comparative advantage in something.c.will try to get along without trade.d.will export raw materials and import finished products.10. In the marketplace, John voluntarily sells his last two loaves of bread to Mary for $2. We can infer that this will ( a )a.benefit both John and Mary.b.benefit Mary, but not John, since these are John’s last two loaves of bread.c.benefit Mary, while imposing a cost on John equal to the benefit Maryreceives.d.benefit neither John nor Mary.11. Trade based on each country’s comparative advantage is ( a )a.economically efficient because both countries are better off than they werebefore they traded.b.economically inefficient because the country with the absolute advantage ismade worse off.c.ineffective in improving efficiency, since one country’s gain will be offset bythe other country’s loss.d.economically efficient only if each country also has the absolute advantage inproducing their good.12. If Armenia can produce two rugs or 100 spy novels in an hour, and Turkey can produce one rug or 50 spy novels in an hour ( d )a.Turkey should produce both rugs and spy novels.b.Turkey should produce only rugs.c.Armenia should produce only rugs.d.there are no gains from trade between these two countries with these two goods.13. A good produced in Japan and sold to Korea ( b )a.is a Korean export and Japanese import.b.is a Korean import and Japanese export.c.implies that Japan has an absolute advantage in the production of the good.d.implies that Korea has a comparative advantage in the production of the good.14. A nation should only import those goods for which it has ( b )a.lower opportunity costs than its trading partner.b.higher opportunity costs than its trading partner.c.zero transactions costs.d.lower costs of production than its trading partner.Jill can sew a child’s dress in 3 hours and can knit a baby’s blanket in 2 hours. Sarah can sew a child’s dress in 6 hours and can knit a baby’s blanket in 3 hours. Use this information to answer the following questions.15. We can infer that Jill has the comparative advantage in ( a )a.sewing.b.knitting.c.both activities.d.neither activities.16. Sarah should specialize in ( b )a.sewing.b.knitting.c.both activities.d.neither activities.17. Given the above information, Jill would trade her dresses for Sarah’s blankets if the price of a dress in terms of blankets was ( c )a.less than 2/3 blankets for 1 dress.b.more than 2 blankets for 1 dress.c.at least 3/2 blankets for 1 dress.d.Jill would never trade with Sarah.18. Given the above information, Sarah would trade her blankets for Jill’s dresses if the price of a blanket in terms of dresses was ( a )a.more than ½ dress for one blanket.b.less than ½ dress for one blanket.c.more than 2/3 dress for 1 blanket.d.Sarah would never trade with Jill.19. Which of the following would be a mutually agreeable rate of exchange between Jill and Sarah for dresses and blankets? ( c )a.less than ½ dress for 1 blanket.b.more than 2/3 dress for 1 blanket.c.between ½ and 2/3 dresses for 1 blanket.d.between 2/3 and 2 dresses for 1 blanket.。
英文2-机会成本及贸易(含中文)
2021/7/21
21
Opportunity Costs: Community College and the Economic Downturn
In 2008-2009 when the economy was experiencing a recession (subprime crisis), many community colleges reported increased enrollments at approximately 10 percent over the previous year. Can you use the concept of opportunity costs to explain why this might be so?
u You pour yourself some orange juice made from oranges grown in Florida.
u You put on some clothes made of cotton grown in Georgia and sewn in factories in Thailand.
u Equity means the benefits of those resources are distributed fairly among the members of society.
2021/7/21
what you give up to get it.
Decisions require comparing costs and benefits of alternatives. u Whether to go to college or to work? u Whether to study or go out on a date? u Whether to go to class or sleep i n ? 2021/7/21
曼昆经济学原理英文版答案
曼昆经济学原理英文版答案As the creator of the Baidu Wenku document "Principles of Economics by Mankiw (English Version) Answers", I would like to provide a comprehensive guide to the solutions of the questions in the book. This document aims to help students better understand the principles of economics and improve their problem-solving abilities.Chapter 1: Ten Principles of Economics。
1. People face trade-offs.2. The cost of something is what you give up to get it.3. Rational people think at the margin.4. People respond to incentives.5. Trade can make everyone better off.6. Markets are usually a good way to organize economic activity.7. Governments can sometimes improve economic outcomes.8. The standard of living depends on a country's production.9. Prices rise when the government prints too much money.10. Society faces a short-run trade-off between inflation and unemployment.Chapter 2: Thinking Like an Economist。
曼昆《经济学原理》2-3(English Version)
?
?
• Higher federal budget deficits will cause interest rates to increase. POSITIVE
?
Copyright © 2004 South-Western/Thomson Learning
Our First Model: The Circular-Flow Diagram
• Factors of Production
• Inputs used to produce goods and services • Land, labor, and capital
Copyright © 2004 South-Western/Thomson Learning
whole.
• Economy-wide phenomena, including inflation, unemployment, and economic growth
Copyright © 2004 South-Western/Thomson Learning
THE ECONOMIST AS POLICY ADVISOR
• Households
• Buy and consume goods and services • Own and sell factors of production
Copyright © 2004 South-Western/Thomson Learning
Our First Model: The Circular-Flow Diagram
经济学原理Chap03曼昆
Interdependence and Trade
Remember, economics is the study of how societies produce and distribute goods in an attempt to satisfy the wants and needs of its members.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Why is interdependence the norm?
Interdependence occurs because people are better off when they specialize and trade with others.
Consider your typical day: You wake up to an alarm clock made in Korea. You pour yourself some orange juice made from
oranges grown in Florida. You put on some clothes made of cotton grown in
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
How do we satisfy our wants and needs in a global economy?
We can be economically selfsufficient.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
曼昆微观经济学ch3
Constant OC
8 4 0 A
16
32
Potato(ounce）
The rancher’s PPF
Meat （ounce）
24
Constant OC
12
B
0
24
48
potato（ounce）
Copyright©2003 Southwestern/Thomson Learning
The farmer's CPF
farmer
INTERDEPENDENCE AND THE GAINS FROM TRADE
4
Three possibilities of trade: The rancher can produce only meat and the
farmer can produce only potatoes.
24 18
The rancher’s production with trade
12
B
If no trade, the rancher chooses this production and consumption
0
12
24
48
Potato（ounce）
Specialization and Trade
The rancher’s table: 12 oz meat & 24 oz potatoes The farmer’s table: 4 oz meat & 16 oz potatoes
INTERDEPENDENCE AND THE GAINS FROM TRADE
12
Gains from Trade
PPF.
03interdependence
我们都知道: 经济学是研究社会如何生产和分配物品以 满足所有社会成员的欲望和需要的。
相互依赖与贸易的好处Interdependence and
the Gains from Trade
在全球经济中，我们如何满足我们的欲望 与需求？How do we satisfy our wants and needs in a global economy?
2
相互依赖和贸易的好处 Interdependence and the Gains from Trade
复习两个知识点：
机会成本Opportunity cost 生产可能性曲线Production Possibility Frontier
看看你的每天日常生活:
u 早晨被产于韩国的闹钟叫醒； u 给自己倒了一杯佛罗里达产的橘子轧成的橘子汁； u 穿上用佐治亚生产的棉花而在泰国缝制的衣服； u 从日本产的电视上看纽约播放的新闻节目； u 你开着用来自6个国家生产的部件组装的汽车去上学。 u …这些事只是发生在你的不到两个小时的生活中。
绝对优势 Absolute Advantage
牧民生产一磅土豆只需要10分钟，农民则需要15 分钟。The Rancher needs only 10 minutes to produce an ounce of potatoes, whereas the Farmer needs 15 minutes. 牧民生产一磅肉只需要20分钟，然而农民需要60 分钟。The Rancher needs only 20 minutes to produce an ounce of meat, whereas the Farmer needs 60 minutes.
没有贸易，经济利益自会减少。 Without
Interdependence and the Gains from Trade 相互依存性与贸易的好处
do not gain from trade because they are more or less productive than others.
People
gain from trade because of diversity in their opportunity cost.
Prepared by XuYongguo, Antai School of Economics&Management
比较优势与贸易
谁拥有有绝对优势?
农场主还是牧场主?
谁拥有比较优势?
农场主还是牧场主?
Prepared by XuYongguo, Antai School of Economics&Management
生产量和消费量
有贸易时的生产量
4盎司
0盎司 +5盎司 5盎司
16盎司
32盎司 -15盎司 17盎司
12盎司
18盎司 -5盎司 13盎司
24盎司
12盎司 +15盎司 27盎司
交易量
消费量
贸易的好处：
消费量的增加 1盎司 1盎司 1盎司 3盎司
The Principle of Comparative Advantage 比较优势原理
描述一个人、一个厂商或者一个国家相对于
其他个人、厂商和国家的生产能力。
能够以更少的投入量生产出一个单位的相同
商品的生产者在生产此物品上有绝对优势。
Prepared by XuYongguo, Antai School of Economics&Management
绝对优势
牧场主生产一盎司土豆只需要10分钟，
Mid-term Exam (Chapter 1-4)-答案版
Chapter 1 Ten Principles of Economics
1. Rational people make decisions “at the margin” by comparing a. average costs and benefits.
c.
a market failure caused by equality.
d. There is no market failure in this case. Answer: A
4. The term ______ refers to the size of the economic pie, and the term ______ refers to how the pie is divided. Answer: efficiency equality 5. In the short run, an increase in the money supply is likely to lead to ______ inflation and ______ unemployment. Answer: higher lower
c.
the nation is producing an efficient combination of goods.
d. there will be a large opportunity cost if the nation tries to increase production of any good. ANS: B
3. Air pollution from burning fossil fuels causes damages to crops and public health. This is an example of
Interdependence and the Gains from Trade
Japan’s PPF
Wheat (tons) 2,000
Japan has enough labor to produce 240 computers, or 1200 tons of wheat, or any combination along the PPF.
1,000
0
Computers 100 200 300
Producing one computer
requires 100 hours of labor.
Producing one ton of wheat
requires 10 hours of labor.
INTERDEPENDENCE AND THE GAINS FROM TRADE
5
Wheat (tons) 5,000 4,000 3,000 2,000 1,000 0
What is comparative advantage? How are these concepts similar? How are they different?
1
Interdependence
Every day hair gel from you rely on Cleveland, OH many people cell phone from around from Taiwan the world, most of whom dress shirt you’ve never met, from China to provide you with the goods coffee from and services Kenya you enjoy.
Imports:
goods produced abroad and sold domestically
曼昆经济学原理试题Chapter 03a
Chapter 3Interdependence and the Gains from Trade Test A1. A country’s consumption possibilities frontier can be outside its production possibilities frontiera. with trade.b. by allocating resources differently.c. by lowering unemployment in the country.d. by producing a greater variety of goods and services.2. If labor in Mexico is less productive than labor in the United States in all areas of production,a. neither nation can benefit from trade.b. Mexico can benefit from trade but the United States cannot.c. both nations can benefit from trade.d. Mexico will not have a comparative advantage in any good.22 Chapter 3/Interdependence and the Gains from Trade3. Refer to the table shown. For the Farmer, the opportunity cost of 1 pound of meat isa. 1/2 pound of potatoesb. 2 pounds of potatoes.c. 4 hours of labor.d. 8 hours of labor.4. Refer to the table shown. For the Rancher, the opportunity cost of 1 pound of meat isa. 1 hour of labor.b. 5 hours of labor.c. 4 pounds of potatoes.d. 1/4 pound of potatoes.5. Refer to the table shown. For the Farmer, the opportunity cost of 1 pound of potatoes isa. 1/2 pound of meat.b. 2 pounds of meat.c. 4 hours of labor.d. 8 hours of labor.6. Refer to the table shown. For the Rancher, the opportunity cost of 1 pound of potatoes isa. 4 hours of labor.b. 2 hours of labor.c. 4 pounds of meat.d. 1/4 pound of meat.7. Refer to the table shown. The Farmer has an absolute advantage in ______ and the Rancher has anabsolute advantage in ______.a. meat, meatb. meat, potatoesc. potatoes, meatd. neither good, both goods8. Refer to the table shown. The Rancher has a comparative advantage in ______ and the Farmer has acomparative advantage in ______.a. meat, potatoesb. both goods, neither goodc. potatoes, meatd. neither good, both goods9. Refer to the table shown. The Farmer and Rancher both could benefit by the Farmer specializing in______ and the Rancher specializing in ______.a. potatoes, meatb. meat, potatoesc. neither good, meatd. They cannot benefit by specialization and trade.Chapter 3/Interdependence and the Gains from Trade 23 These figures illustrate the production possibilities available to Tom and Nicole with 40 hours of labor.10. Refer to the graphs shown. The opportunity cost of 1 video for Tom isa. 1/2 book.b. 1 book.c. 2 books.d. 4 books.11. Refer to the graphs shown. The opportunity cost of 1 video for Nicole isa. 1/40 book.b. 1/8 book.c. 8 books.d. 40 books.RANDOM: N12. Refer to the graphs shown. The opportunity cost of 1 book for Nicole isa. 1/40 video.b. 1/8 video.c. 5 videos.d. 8 videos.TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N13. Refer to the graphs shown. The opportunity cost of 1 book for Tom isa. 1/4 video.b. 1/2 video.c. 2 videos.d. 4 videos.TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N24 Chapter 3/Interdependence and the Gains from Trade14. Refer to the graphs shown. Nicole has an absolute advantage in ______ and Tom has an absoluteadvantage in ______.a. books, videosb. videos, booksc. both goods, neither goodd. neither good, both goodsTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N15. Refer to the graphs shown. Nicole has a comparative advantage in ______ and Tom has acomparative advantage in ______.a. books, videosb. both goods, neither goodc. videos, booksd. neither good, booksTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N16. Refer to the graphs shown. Nicole should specialize in ______ and Tom should specialize in ______.a. videos, booksb. books, videosc. both goods, videosd. books, neither goodTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N17. Refer to the graphs shown. If Tom and Nicole both specialize in the good in which they have acomparative advantage, total production of books will be ______ and total production of videos will be ______.a. 42, 9b. 40, 4c. 4, 40d. 9, 42TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N18. Comparative advantage is based ona. capital costs.b. labor costs.c. dollar price.d. opportunity costs.TYPE: M KEY1: D SECTION: 2 OBJECTIVE: 3 RANDOM: Y19. Absolute advantage is found bya. comparing opportunity costs.b. calculating the dollar cost of production.c. first determining which country has a comparative advantage.d. comparing the productivity of one nation to that of another.TYPE: MKEY1: D SECTION: 2 OBJECTIVE: 3 RANDOM: YChapter 3/Interdependence and the Gains from Trade 2520. The principle of comparative advantage was developed bya. Adam Smith.b. Harry Truman.c. David Ricardo.d. John Maynard Keynes.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y21. Economists generally supporta. government management of trade.b. free international trade.c. trade restrictions.d. export subsidies.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y22. Karl Malone (1997 NBA MVP) is a better basketball player and truck driver than Gregory Mankiw(the author of your economics text). Which of the following is true?a. Karl Malone and Gregory Mankiw may benefit from trade.b. Karl Malone would be better off playing basketball and driving his own truck.c. Karl Malone will probably have a comparative advantage in both goods.d. Karl Malone will have a lower opportunity cost of playing basketball and truck driving thanwill Gregory Mankiw.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y23. Exports area. a limit placed on the quantity of goods brought into a country.b. goods produced domestically and sold abroad.c. usually a country’s least desirable product.d. goods produced abroad and sold domestically.TYPE: M KEY1: T SECTION: 3 OBJECTIVE: 4RANDOM: Y24. The United States could benefit bya. promoting imports and restricting exports.b. restricting imports and promoting exports.c. restricting both imports and exports.d. not restricting trade.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y25. The gains from trade area. higher from trade between a rich nation and a poor nation.b. a result of more efficient resource allocation.c. based on different wage rates between nations.d. based on the principle of absolute advantage.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y1 ANSWER: a. with trade.TYPE: M KEY1: D SECTION: 1 OBJECTIVE: 1 RANDOM: Y2 ANSWER: c. both nations can benefit from trade.TYPE: M KEY1: D SECTION: 2 OBJECTIVE: 1 RANDOM: Y26 Chapter 3/Interdependence and the Gains from Trade3 ANSWER: b. 2 pounds of potatoes.TYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y4 ANSWER: c. 4 pounds of potatoes.TYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y5 ANSWER: a. 1/2 pound of meat.TYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y6 ANSWER: d. 1/4 pound of meat.TYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y7 ANSWER: d. neither good, both goodsTYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y8 ANSWER: c. potatoes, meatTYPE: M KEY1: T SECTION: 2 OBJECTIVE: 2 INSTRUCTION: 1 RANDOM: Y9 ANSWER: b. meat, potatoesTYPE: M KEY1: T SECTION: 2 OBJECTIVE: 3 INSTRUCTION: 1 RANDOM: Y10 ANSWER: a. 1/2 book.TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N11 ANSWER: c. 8 books.TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N12 ANSWER: b. 1/8 video.TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N13 ANSWER: c. 2 videosTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: NChapter 3/Interdependence and the Gains from Trade 27 14 ANSWER: c. both goods, neither goodTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N15 ANSWER: a. books, videosTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N16 ANSWER: b. books, videosTYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N17 ANSWER: b. 40, 4TYPE: M KEY1: G SECTION: 2 OBJECTIVE: 3 GRAPH FORMAT: M QUESTION INSTRUCTION: 4 RANDOM: N18 ANSWER: d. opportunity costs.TYPE: M KEY1: D SECTION: 2 OBJECTIVE: 3 RANDOM: Y19 ANSWER: d. comparing the productivity of one nation to that of another.TYPE: MKEY1: D SECTION: 2 OBJECTIVE: 3 RANDOM: Y20 ANSWER: c. David Ricardo.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y21 ANSWER: b. free international trade.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y22 ANSWER: a. Karl Malone and Gregory Mankiw may benefit from trade.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y23 ANSWER: b. goods produced domestically and sold abroad.TYPE: M KEY1: T SECTION: 3 OBJECTIVE: 4RANDOM: Y24 ANSWER: d. not restricting trade.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y25 ANSWER: b. a result of more efficient resource allocation.TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 4 RANDOM: Y28 Chapter 3/Interdependence and the Gains from Trade。
经济学原理-教学大纲
《经济学原理（英语）》教学大纲“Principles of Economics” Course Outline课程编号：151103A课程类型：专业必修课总学时：48 讲课学时：48 实验（上机）学时：0学分：3适用对象：经济学、金融学、管理学等先修课程：大学英文Course Code: 151103ACourse Type: Compulsory CourseTotal Hours: 48 Lecture Hours: 48 Lab Hours: 0Credits: 3Applicable Majors: Economics, Finance, Management, etc.Prerequisites: University English一、课程的教学目标(Course Objectives)经济学原理是经济、金融类等专业的本科生的专业必修课程，旨在为学生提供基础的经济学理论以及经济学家的思维模式。
通过课堂上对经济学相关原理的学习和掌握，学生可以运用所学的概念和工具对现实生活中发生的各种经济现象进行更专业和理论的分析，并且为后续课程的学习打下坚实的基础。
Principles of Economics is a compulsory course for undergraduate students majoring in Economics, Finance etc. This course is designed to provide students with a fundamental understanding of the principles of economics and the way how an economist thinks. Upon successful completion, students will be able to use the concepts and tools discussed throughout the course to better perceive and analyze issues that confront us in the real world. At the end of the term, students will be familiar with the terminologies and basic concepts in economics in preparing for the higher level economics courses.二、教学基本要求(Course Requirements)经济学是一门对生产、分配，以及对商品货物和服务的消费的一种学习--经济。
微观经济学chapter2-6习题答案
Chapter 2Thinking Like an EconomistsTRUE OR FALSE1. Economists devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories. (T)2. While the scientific method is applicable to studying natural sciences, it is not applicable to studying a nation’s economy. (F)3. It is difficult for economists to make observations and develop theories, but it is easy for economists to run experiments to generate data to test their theories. (F)4. Good assumptions simplify a problem without substantially affecting the answer. (T)5. Assumptions can simplify the complex world and make it easier to understand. (T)6. Economic models omit many details to allow us to see what is truly important. (T)7. The circular-flow diagram explains, in general terms, how the economy is organized and how participants in the economy interact with one another. (T)8. In the circular-flow diagram, households and firms are the decision makers. (T)9. In the circular-flow diagram, factors of production are the goods and services produced by firms. (F)10. In the circular-flow diagram, firms own the factors of production and use them to produce goods and services. (F)11. In the circular-flow diagram, one loop represents the flow of goods and services, and the other loop represents the flow of factors of production. (F)12. The production possibilities frontier is a graph that shows the various combinations of outputs that the economy can possibly produce given the available factors of production and the available production technology. (T)13. Refer to Figure 2-1, if this economy uses all its resources in the dishwasher industry, it produces 35 dishwashers and no doghouses. (T)Figure 2-114. Refer to Figure 2-1, it is possible for this economy to produce 75 doghouses. (F)15. Refer to Figure 2-1, it is possible for this economy to produce 30 doghouses and 20 dishwashers. (T)16. Refer to Figure 2-1, it is possible for this economy to produce 45 doghouses and 30 dishwashers. (F)17. Refer to Figure 2-1, unemployment could cause this economy to produce at point B. (T)18. Refer to Figure 2-1, the opportunity cost of moving from point A to point D is 10 dishwashers. (T)19. Refer to Figure 2-1, the opportunity cost of moving from point B to point D is 15 doghouses. (F)20. Refer to Figure 2-1, the opportunity cost of an additional doghouse increases as more doghouses are produced. (T)21. If an economy can produce more of one good without giving up any of another good, then the economy’s current producti on point is inefficient. (T)22. When a production possibilities frontier is bowed outward, the opportunity cost of the first good in terms of the second good increases as more of the second good is produced.(F)23. A production possibilities frontier wil l be bowed outward if some of the economy’s resources are better suited to producing one good than another. (T)24. While the production possibilities frontier is a useful model, it cannot be used to illustrate economic growth. (F)25. Microeconomics is the study of how households and firms make decisions and how they interact in specific markets. (T)26. Macroeconomics is the study of economy-wide phenomena. (T)27. Economists acting as scientists make positive statements, while economists acting as policy advisers make normative statements. (T)28. Normative statements describe how the world is, while positive statements prescribe how the world should be. (F)29. "Other things equal, an increase in supply causes a decrease in price" is a normative statement, not a positive statement. (F)30. There is only one explanation for why economists give conflicting advice on policy issues, and it is that they have different values about what policy should try to accomplish.(F)31. The slope of a line is equal to the change in the x-variable divided by the change in the y-variable. (F)Chapter 3 Interdependence And The Gains From TradeTRUE OR FALSE1. Interdependence among individuals and interdependence among nations are both based on the gains from trade. (T)2. If a person chooses self-sufficiency, then she can only consume what she produces. (T)3. If Wrex can produce more math problems per hour and more book reports per hour than Maxine can, then Wrex cannot gain from trading math problems and book reports with Maxine. (F)4. Trade allows a country to consume outside its production possibilities frontier. (T)5. Opportunity cost refers to how many inputs a producer requires to produce a good. (F)6. Opportunity cost measures the trade-off between two goods that each producer faces. (T)7. For a country producing two goods, the opportunity cost of one good will be the inverse of the opportunity cost of the other good. (T)8. If one producer has the absolute advantage in the production of all goods, then that same producer will have the comparative advantage in the production of all goods as well. (F)9. If a country has the comparative advantage in producing a product, then that country must also have the absolute advantage in producing that product. (F)10. If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good. (F)11. Unless two people who are producing two goods have exactly the same opportunity costs, thenone person will have a comparative advantage in one good, and the other person will have a comparative advantage in the other good. (T)12. The principle of comparative advantage states that, regardless of the price at which trade takes place, everyone will benefit from trade if they specialize in the production of the good for which they have a comparative advantage. (F)13. Trade can benefit everyone in society because it allows people to specialize in activities in which they have a comparative advantage. (T)14. Two countries can achieve gains from trade even if one country has an absolute advantage in the production of both goods. (T)15. As long as two people have different opportunity costs, each can gain from trade with the other, since trade allows each person to obtain a good at a price lower than his or her opportunity cost. (T) 16. When each person specializes in producing the good in which he or she has a comparative advantage, each person can gain from trade but total production in the economy is unchanged. (F) 17. For both parties to gain from trade, the price at which they trade must lie exactly in the middle of the two opportunity costs. (F)18. David Ricardo was the author of the 1817 book Principles of Political Economy and Taxation. (T)19. International trade may make some individuals in a nation better off, while other individuals are made worse off. (T)20. Trade can make some individuals worse off, even as it makes the country as a whole better off. (T) SHORT ANSWER1. Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why? Absolute advantage refers to productivity, as in the producer who can produce a product at a lower cost in terms of the resources used in production. Comparative advantage refers to the producer who can produce a product at a lower opportunity cost. Comparative advantage is the principle upon which trade patterns are based. Comparative advantage is based on opportunity cost, and opportunity cost measures the real cost to an individual or country of producing a particular product. Opportunity cost is therefore the information necessary for an individual or nation to determine whether to produce a good or buy it from someone else.2. The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers.Alpha’s Production Possibilities Frontier Omega’s Pro duction Possibilities Frontiera.Assume that each country decides to use half of its resources in the production of eachgood. Show these points on the graphs for each country as point A.b.If these countries choose not to trade, what would be the total world production ofpopcorn and peanuts?c.Now suppose that each country decides to specialize in the good in which each has acomparative advantage. By specializing, what is the total world production of eachproduct now?d.If each country decides to trade 100 units of popcorn for 100 units of peanuts, show onthe graphs the gain each country would receive from trade. Label these points B. Alpha’s Production Possibilities Frontier Omega’s Production Possibilities Frontiera.Alpha would be producing 125 units of peanuts and 75 units of popcorn (point A on itsproduction possibilities frontier) and Omega would be producing 50 units of peanutsand 150 units of popcorn (point A on its production possibilities frontier).b.The total world production of peanuts would be 175 units and the total world productionof popcorn would be 225 units.c.The total world production of peanuts would now be 250 units and the total worldproduction of popcorn would now be 300 units.d.Alpha would be producing 250 units of peanuts and would trade 100 of them to Omega,leaving Alpha with 150 units of peanuts. Alpha would then receive 100 units of popcornfrom Omega. Omega would be producing 300 units of popcorn and would trade 100 ofthem to Alpha, leaving Omega with 200 units of popcorn. Omega would then receive100 units of peanuts from Alpha.Choice1. People who provide you with goods and services (b)a.are acting out of generosity.b.do so because they get something in return.c.have chosen not to become interdependent.d.are required to do so by the government.2. When an economist points out that you and millions of other people are interdependent, he or she is referring to the fact that we all (b)a.rely upon the government to provide us with the basic necessities of life.b.rely upon one another for the goods and services we consume.c.have similar tastes and abilities.d.are concerned about one another’s well-being.3. When can two countries gain from trading two goods? (d)a.when the first country can only produce the first good and the second country can onlyproduce the second goodb.when the first country can produce both goods, but can only produce the second good atgreat cost, and the second country can produce both goods, but can only produce thefirst good at great costc.when the first country is better at producing both goods and the second country is worseat producing both goodsd.Two countries could gain from trading two goods under all of the above conditions.4. Shannon bakes cookies and Justin grows vegetables. In which of the following cases is it impossible for both Shannon and Justin to benefit from trade? (a)a.Shannon does not like vegetables and Justin does not like cookies.b.Shannon is better than Justin at baking cookies and Justin is better than Shannon atgrowing vegetables.c.Justin is better than Shannon at baking cookies and at growing vegetables.d.Both Shannon and Justin can benefit from trade in all of the above cases.5. A production possibilities frontier is bowed outward when (d)a.the more resources the economy uses to produce one good, the fewer resources it hasavailable to produce the other good.b.an economy is self-sufficient instead of interdependent and engaged in trade.c.the rate of tradeoff between the two goods being produced is constant.d.the rate of tradeoff between the two goods being produced depends on how much ofeach good is being produced.” could bea.100.b.150.c.200.d.250.7. Assume for the United States that the opportunity cost of each airplane is 100 cars. Then which of these pairs of points could be on the United States' production possibilities frontier? (c)a.(200 airplanes, 5,000 cars) and (150 airplanes, 4,000 cars)b.(200 airplanes, 10,000 cars) and (150 airplanes, 20,000 cars)c.(300 airplanes, 15,000 cars) and (200 airplanes, 25,000 cars)d.(300 airplanes, 25,000 cars) and (200 airplanes, 40,000 cars)8. What must be given up to obtain an item is called (c)a.out-of-pocket cost.parative worth.c.opportunity cost.d.absolute value.9. A farmer has the ability to grow either corn or cotton or some combination of the two. Given no other information, it follows that the farmer’s opportunity cost of a bushel of corn multiplied by his opportunity cost of a bushel of cotton (c)a.is equal to 0.b.is between 0 and 1.c.is equal to 1.d.is greater than 1.10. If Korea is capable of producing either shoes or soccer balls or some combination of the two, then(d)a.Korea should specialize in the product in which it has an absolute advantage.b.it would be impossible for Korea to have an absolute advantage over another country inboth products.c.it would be difficult for Korea to benefit from trade with another country if Korea isefficient in the production of both goods.d.Korea’s opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.11. Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where Sandy can make 6 tables or 18 chairs. Given this, we know that the opportunity cost of 1 chair is (a)a.1/5 table for Mike and 1/3 table for Sandy.b.1/5 table for Mike and 3 tables for Sandy.c. 5 tables for Mike and 1/3 table for Sandy.d. 5 tables for Mike and 3 tables for Sandy.12. If Shawn can produce more donuts in one day than Sue can produce in one day, then (c)a.Shawn has a comparative advantage in the production of donuts.b.Sue has a comparative advantage in the production of donuts.c.Shawn has an absolute advantage in the production of donuts.d.Sue has an absolute advantage in the production of donuts.13. Kelly and David are both capable of repairing cars and cooking meals. Which of the following scenarios is not possible? (c)a.Kelly has a comparative advantage in repairing cars and David has a comparativeadvantage in cooking meals.b.Kelly has an absolute advantage in repairing cars and David has an absolute advantagein cooking meals.c.Kelly has a comparative advantage in repairing cars and in cooking meals.d.David has an absolute advantage in repairing cars and in cooking meals.14. Comparative advantage is related most closely to which of the following? (b)a.output per hourb.opportunity costc.efficiencyd.bargaining strength in international trade15. Two individuals engage in the same two productive activities. In which of the following circumstances would neither individual have a comparative advantage in either activity? (c)a.One individual’s production possibilities frontier is steeper than the other individual’sproduction possibilities frontier.b.One individual is faster at both activities than the other individual.c.One individual’s opportunity costs are the same as the other individual’s opportunitycosts.d.None of the above is correct; one of the two individuals always will have a comparativeadvantage in at least one of the two activities.16. Total output in an economy increases when each person specializes becausea.there is less competition for the same resources.b.each person spends more time producing that product in which he or she has acomparative advantage.c. a wider variety of products will be produced within each country due to specialization.ernment necessarily plays a larger role in the economy due to specialization.17. Which of the following statements is not correct? (d)a.Trade allows for specialization.b.Trade has the potential to benefit all nations.c.Trade allows nations to consume outside of their production possibilities curves.d.Absolute advantage is the driving force of specialization.18. By definition, imports are (d)a.people who work in foreign countries.b.goods in which a country has an absolute advantage.c.limits placed on the quantity of goods leaving a country.d.goods produced abroad and sold domestically.19. By definition, exports are (d)a.limits placed on the quantity of goods brought into a country.b.goods in which a country has an absolute advantage.c.people who work in foreign countries.d.goods produced domestically and sold abroad.20. Which of the following would not result from all countries specializing according to the principle of comparative advantage? (d)a.The size of the economic pie would increase.b.Worldwide production of goods and services would increase.c.The well-being of citizens in each country would be enhanced.d.Each country’s production possibilities frontier would shift outward.Chapter 4The Market Forces of Supply and DemandTRUE OR FALSE1. In a market economy, supply and demand determine both the quantity of each good produced and2. the price at which it is sold. (T)3. Prices allocate a market economy’s scarce resources. (T)4. Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product. (F)5. In a competitive market, the quantity of each good produced and the price at which it is sold are not determined by any single buyer or seller. (T)6. In a perfectly competitive market, the goods offered for sale are all exactly the same. (T)7. The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls. (F)8. The market demand curve shows how the total quantity demanded of a good varies as the income ofbuyers varies, while all the other factors that affect how much consumers want to buy are held constant. (F)9. If something happens to alter the quantity demanded at any given price, then the demand curve shifts. (T)10. If the demand for a good falls when income falls, then the good is called an inferior good. (F)11. A decrease in income will shift the demand curve for an inferior good to the right. (T)12. An increase in the price of a substitute good will shift the demand curve for a good to the right. (T)13. A decrease in the price of a complement will shift the demand curve for a good to the left. (F)14. If a person expects the price of socks to increase next month, then that person’s current demand for socks will increase. (T)15. A decrease in the price of a product and an increase in the number of buyers in the market affect the demand curve in the same general way. (F)16. Whenever a determinant of demand other than price changes, the demand curve shifts. (T)17. The quantity supplied of a good or service is the amount that sellers are willing and able to sell at a particular price. (T)18. When the price of a good is high, selling the good is profitable, and so the quantity supplied is large. (T)19. If something happens to alter the quantity supplied at any given price, then we move along the fixed supply curve to a new quantity supplied. (F)20. A decrease in supply shifts the supply curve to the left. (T)21. A reduction in an input price will cause a change in quantity supplied, but not a change in supply.(F)22. If there is an improvement in the technology used to produce a good, then the supply curve for that good will shift to the left. (F)23. When a seller expects the price of its product to decrease in the future, the seller's supply curve shifts left now. (F)24. When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied. (F)25. Price will rise to eliminate a surplus. (F)26. Sellers respond to a shortage by cutting their prices. (F)27. A shortage will occur at any price below equilibrium price and a surplus will occur at any price above equilibrium price. (T)28. In a market, the price of any good adjusts until quantity demanded equals quantity supplied. (T)29. A decrease in demand will cause a decrease in price, which will cause a decrease in supply. (F) SHORT ANSWER1.a. What is the difference between a "change in demand" and a "change in quantity demanded?"Graph your answer.b.For each of the following changes, determine whether there will be a change in quantitydemanded or a change in demand.i. a change in the price of a related goodii. a change in tastesiii. a change in the number of buyersiv. a change in pricev. a change in consumer expectationsvi. a change in incomea. A change in demand refers to a shift of the demand curve. A change in quantitydemanded refers to a movement along a fixed demand curve.b. A change in price causes a change in quantity demanded. All of the other changes listedshift the demand curve.A change in quantity supplied A change in supply2.Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and equilibrium quantity would change.a.Winter starts and the weather turns sharply colder.b.The price of tea, a substitute for hot chocolate, falls.c.The price of cocoa beans decreases.d.The price of whipped cream falls.e. A better method of harvesting cocoa beans is introduced.f.The Surgeon General of the U.S. announces that hot chocolate cures acne.g.Protesting farmers dump millions of gallons of milk, causing the price of milk to rise.h.Consumer income falls because of a recession, and hot chocolate is considered a normalgood.i.Producers expect the price of hot chocolate to increase next month.j.Currently, the price of hot chocolate is $0.50 per cup above equilibrium.(a) (b)(c) (d) (e) (f)(g) (h)(i) (j)In (j), a price above equilibrium will affect both quantity demanded and quantity supplied and will cause a surplus in the market. It will not cause either demand or supply to shift.3.Fill in the table below, showing whether equilibrium price and equilibrium quantity go up, go down, stay the same, or change ambiguously.CHOICE1. Which of the following is an example of a market? (d)a. a gas stationb. a garage salec. a barber shopd.All of the above are examples of markets. (d)2. In a competitive market, the price of a producta.is determined by buyers and the quantity of the product produced is determined bysellers.b.is determined by sellers and the quantity of the product produced is determined bybuyers.c.and the quantity of the product produced are both determined by sellers.d.None of the above is correct.3. A downward-sloping demand curve illustrates (d)a.that demand decreases over time.b.that prices fall over time.c.the relationship between income and quantity demanded.d.the law of demand.4. Refer to Table 4-1. Whose demand does not obey the law of demand? (c)a.Aaron’sb.Angela’sc.Austin’sd.Alyssa’s5. Refer to Table 4-1. If these are the only four buyers in the market, then the market quantity demanded at a price of $1 is (d)a. 4 units.b.7.75 units.c.14 units.d.31 units.6. When we move along a given demand curve, (c)a.only price is held constant.b.income and price are held constant.c.all nonprice determinants of demand are held constant.d.all determinants of quantity demanded are held constant.7. Which of the following is not held constant in a supply schedule? (c)a.technologyb.the price of the goodc.the prices of inputsd.expectations8. A market supply curve is determined by (b)a.vertically summing individual supply curves.b.horizontally summing individual supply curves.c.finding the average quantity supplied by sellers at each possible price.d.finding the average price at which sellers are willing and able to sell a particular quantityof the good.9. A decrease in quantity supplied (a)a.results in a movement downward and to the left along a fixed supply curve.b.results in a movement upward and to the right along a fixed supply curve.c.shifts the supply curve to the left.d.shifts the supply curve to the right.10. Another term for equilibrium price is (b)a.dynamic price.b.market-clearing price.c.quantity-defining price.d.balance price.11. If, at the current price, there is a surplus of a good, then (a)a.sellers are producing more than buyers wish to buy.b.the market must be in equilibrium.c.the price is below the equilibrium price.d.quantity demanded equals quantity supplied.12. If a shortage exists in a market, then we know that the actual price is (c)a.above the equilibrium price and quantity supplied is greater than quantity demanded.b.above the equilibrium price and quantity demanded is greater than quantity supplied.c.below the equilibrium price and quantity demanded is greater than quantity supplied.d.below the equilibrium price and quantity supplied is greater than quantity demanded.13. If the demand for a product increases, then we would expect (c)a.equilibrium price to increase and equilibrium quantity to decrease.b.equilibrium price to decrease and equilibrium quantity to increase.c.equilibrium price and equilibrium quantity both to increase.d.equilibrium price and equilibrium quantity both to decrease.14. If the supply of a product decreases, then we would expect (a)a.equilibrium price to increase and equilibrium quantity to decrease.b.equilibrium price to decrease and equilibrium quantity to increase.c.equilibrium price and equilibrium quantity both to increase.d.equilibrium price and equilibrium quantity both to decrease.15. When supply and demand both increase, equilibrium (d)a.price will increase.b.price will decrease.c.quantity may increase, decrease, or remain unchanged.d.price may increase, decrease, or remain unchanged.16. What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell? (a)a.Price would fall and the effect on quantity would be ambiguous.b.Price would rise and the effect on quantity would be ambiguous.c.Quantity would fall and the effect on price would be ambiguous.d.Quantity would rise and the effect on price would be ambiguous.17. Which of these statements does not apply to market economies? (c)a.Prices prevent decentralized decision making from degenerating into chaos.b.Prices coordinate the actions of millions of people with varying abilities and desires.c.Prices ensure that anyone who wants a product can get it.d.Prices ensure that what needs to get done does in fact get done.Chapter 5Elasticity and its Its ApplicationTRUE OR FALSE1. The demand for bread is likely to be more elastic than the demand for solid-gold bread plates. (F)2. In general, demand curves for luxuries tend to be price elastic. (T)3. Goods with close substitutes tend to have more elastic demands than do goods without close substitutes. (T)4. The demand for gasoline will respond more to a change in price over a period of five weeks than over a period of five years. (F)5. The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price. (T)6. Demand is inelastic if the price elasticity of demand is greater than 1. (F)7. Price elasticity of demand along a linear, downward-sloping demand curve increases as price falls.(F)8. If the price elasticity of demand is equal to 1, then demand is unit elastic. (T)9. When demand is inelastic, a decrease in price increases total revenue. (F)10. The income elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in income. (T)11. Normal goods have negative income elasticities of demand, while inferior goods have positive income elasticities of demand. (F)12. If the cross-price elasticity of demand for two goods is negative, then the two goods are substitutes. (T)13. If the cross-price elasticity of demand for two goods is negative, then the two goods are complements. (T)14. Price elasticity of supply measures how much the quantity supplied responds to changes in the price. (T)15. Supply and demand both tend to be more elastic in the long run and more inelastic in the short run. (T)16. If the price elasticity of supply is 2 and the quantity supplied decreases by 6%, then the price must have decreased by 3%. (T)17. If a supply curve is horizontal, then supply is said to be perfectly elastic, and the price elasticity of supply approaches infinity. (T)18. A government program that reduces land under cultivation hurts farmers but helps consumers. (F)19. OPEC failed to maintain a high price of oil in the long run, partly because both the supply of oil and the demand for oil are more elastic in the long run than in the short run. (T)20. Drug interdiction, which reduces the supply of drugs, may decrease drug-related crime because the demand for drugs is inelastic. (F)Short Answer1. Using the midpoint method, compute the elasticity of demand between points A and B. Is demand along this portion of the curve elastic or inelastic? Interpret your answer with regard to price and quantity demanded. Now compute the elasticity of demand between points B and C. Is demand along this portion of the curve elastic or inelastic?。
曼坤微观课件第3章chapter3 相互依存性与贸易的好处
生产1公斤所需要的时间（分钟） 牛肉 农民 牧牛人 60 20 土豆 15 10
8个小时的产量（公斤） 牛肉 0 18 土豆 32 12
机会成本和比较优势
• 不比较投入，而比较机会成本。 • 根据课本51页的表3-1，可计算出农民和牧羊 人生产牛肉和土豆的机会成本。
生产1公斤牛肉的机会成 本 生产1公斤土豆的机会成 本
中国企业国际化
• 重点地区： ▫ 珠三角：广州、深圳、珠海、佛山、江门、中 山、东莞、惠州、惠阳县、惠东县、博罗县、 肇庆、高要、四会 ▫ 长三角：两省一市（江苏省的苏南、浙江省的 浙北、上海）
2007年各省市对外贸易总值（单位：亿美元） 7000 6341 6000 5000 4000 3000 2000 1000 0
Chapter 3
相互依存性与贸易的好处
Interdependence and the Gains from Trade
华南理工大学广州汽车学院
经济管理学院 徐丽丽
•全球经济的相互依存 全球化 比较优势原理 比较优势的应用
Tiger
Woods应该自己修剪草坪吗？ 美国应该与其他国家进行贸易吗？
关于现代经济寓言的3个假设
•
•
–
假设1：如果牧牛人只会生产牛肉，农民只会
种植土豆 假设2：如果牧牛人和农民都会生产两种产品
种土豆的农民可以养牛并生产牛肉，但他并不擅 长养牛
–
养牛的牧牛人也能种土豆，但他的土地并不适合
种土豆
•
假设3：牧牛人在养牛和种土豆上都优于农民，
此时牧牛人和农民应该选择保持自给自足吗？
农民 牧牛人
4公斤土豆 2公斤土豆
1/4公斤牛肉 1/2公斤牛肉
【国际经济学专题考试试卷三】Interdependence and the Gains from Trade
Chapter 3Interdependence and the Gains from TradeTRUE/FALSE1. In most countries today, many goods and services consumed are imported from abroad, and many goods andservices produced are exported to foreign customers.ANS: T DIF: 1 REF: 3-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade MSC: Definitional2. Interdependence among individuals and interdependence among nations are both based on the gains fromtrade.ANS: T DIF: 2 REF: 3-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive3. If a person chooses self-sufficiency, then she can only consume what she produces.ANS: T DIF: 1 REF: 3-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Self-sufficiency MSC: Definitional4. If Wrex can produce more math problems per hour and more book reports per hour than Maxine can, thenWrex cannot gain from trading math problems and book reports with Maxine.ANS: F DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative5. It is possible for the U.S. to gain from trade with Germany even if it takes U.S. workers fewer hours toproduce every good than it takes German workers.ANS: T DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative6. A production possibilities frontier is a graph that shows the combination of outputs that an economy shouldproduce.ANS: F DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Interpretive7. Production possibilities frontiers cannot be used to illustrate tradeoffs.ANS: F DIF: 1 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Definitional8. An economy can produce at any point on or inside its production possibilities frontier, but it cannot produce atpoints outside its production possibilities frontier.ANS: T DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Interpretive9. Trade allows a country to consume outside its production possibilities frontier.ANS: T DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier | Trade MSC: Interpretive10. Opportunity cost refers to how many inputs a producer requires to produce a good.ANS: F DIF: 1 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Definitional128Chapter 3 /Interdependence and the Gains from Trade 129 11. Opportunity cost measures the trade-off between two goods that each producer faces.ANS: T DIF: 1 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Definitional12. For a country producing two goods, the opportunity cost of one good will be the inverse of the opportunitycost of the other good.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Interpretive13. Henry can make a bird house in 3 hours and he can make a bird feeder in 1 hour. The opportunity cost toHenry of making a bird house is 1/3 bird feeder.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Applicative14. Suppose that in one hour Dewey can produce either 10 bushels of corn or 20 yards of cloth. Then Dewey’sopportunity cost of producing one bushel of corn is 1/2 yard of cloth.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Applicative15. Jake can complete an oil change in 45 minutes and he can write a poem in 90 minutes. Ming-la can completean oil change in 30 minutes and she can write a poem in 90 minutes. Jake's opportunity cost of writing a poem is lower than Ming-la's opportunity cost of writing a poem.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Applicative16. Harry is a computer company executive, earning $200 per hour managing the company and promoting itsproducts. His daughter Quinn is a high school student, earning $6 per hour helping her grandmother on the farm. Harry's computer is broken. He can repair it himself in one hour. Quinn can repair it in 10 hours.Harry’s opportunity cost of repairing the computer is lower than Quinn’s.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Scarcity, tradeoffs, and opportunity costTOP: Opportunity cost MSC: Applicative17. If one producer has the absolute advantage in the production of all goods, then that same producer will havethe comparative advantage in the production of all goods as well.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage MSC: Interpretive18. If a country has the comparative advantage in producing a product, then that country must also have theabsolute advantage in producing that product.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage MSC: Interpretive19. In an economy consisting of two people producing two goods, it is possible for one person to have theabsolute advantage and the comparative advantage in both goods.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage MSC: Interpretive20. If one producer is able to produce a good at a lower opportunity cost than some other producer, then theproducer with the lower opportunity cost is said to have an absolute advantage in the production of that good. ANS: F DIF: 1 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Definitional130 Chapter 3 /Interdependence and the Gains from Trade21. Unless two people who are producing two goods have exactly the same opportunity costs, then one person willhave a comparative advantage in one good, and the other person will have a comparative advantage in the other good.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Interpretive22. Zora can produce 4 quilts in a week and she can produce 1 corporate website in a week. Lou can produce 9quilts in a week and he can produce 2 corporate websites in a week. Zora has the comparative advantage in quilts and the absolute advantage in neither good, while Lou has the comparative advantage in corporatewebsites and the absolute advantage in both goods.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage MSC: Applicative23. Timmy can edit 2 pages in one minute and he can type 80 words in one minute. Olivia can edit 1 page in oneminute and she can type 100 words in one minute. Timmy has an absolute advantage and a comparativeadvantage in editing, while Olivia has an absolute advantage and a comparative advantage in typing.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage MSC: Applicative24. Suppose Hank and Tony can both produce corn. If Hank’s opportunity cost of producing a bushel of corn is2 bushels of soybeans and Tony’s opportunity cos t of producing a bushel of corn is3 bushels of soybeans,then Hank has the comparative advantage in the production of corn.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Applicative25. It takes Anne 3 hours to make a pie and 4 hours to make a shirt. It takes Mary 2 hours to make a pie and 5hours to make a shirt. Anne should specialize in making shirts and Mary should specialize in making pies, and they should trade.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Specialization MSC: Applicative26. The principle of comparative advantage states that, regardless of the price at which trade takes place, everyonewill benefit from trade if they specialize in the production of the good for which they have a comparativeadvantage.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Comparative advantage MSC: Interpretive27. The gains from specialization and trade are based on absolute advantage.ANS: F DIF: 1 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Definitional28. Trade can benefit everyone in society because it allows people to specialize in activities in which they have acomparative advantage.ANS: T DIF: 1 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Definitional29. Two countries can achieve gains from trade even if one country has an absolute advantage in the production ofboth goods.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: InterpretiveChapter 3 /Interdependence and the Gains from Trade 131 30. It takes Ross 6 hours to produce a bushel of corn and 2 hours to wash and polish a car. It takes Courtney 6hours to produce a bushel of corn and 1 hour to wash and polish a car. Courtney and Ross cannot gain from specialization and trade, since it takes each of them 6 hours to produce 1 bushel of corn.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative31. Differences in opportunity cost allow for gains from trade.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive32. As long as two people have different opportunity costs, each can gain from trade with the other, since tradeallows each person to obtain a good at a price lower than his or her opportunity cost.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive33. Trade allows a person to obtain goods at prices that are less than that person's opportunity cost because eachperson specializes in the activity for which he or she has the lower opportunity cost.ANS: T DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive34. When each person specializes in producing the good in which he or she has a comparative advantage, eachperson can gain from trade but total production in the economy is unchanged.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive35. For both parties to gain from trade, the price at which they trade must lie exactly in the middle of the twoopportunity costs.ANS: F DIF: 2 REF: 3-2NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive36. Adam Smith was the author of the 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations. ANS: T DIF: 1 REF: 3-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economists MSC: Definitional37. David Ricardo was the author of the 1817 book Principles of Political Economy and Taxation.ANS: T DIF: 1 REF: 3-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economists MSC: Definitional38. Adam Smith wrote that a person should never attempt to make at home what it will cost him more to makethan to buy.ANS: T DIF: 1 REF: 3-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economists MSC: Definitional39. Adam Smith developed the theory of comparative advantage as we know it today.ANS: F DIF: 1 REF: 3-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economists | Comparative advantage MSC: Definitional132 Chapter 3 /Interdependence and the Gains from Trade40. Goods produced abroad and sold domestically are called exports and goods produced domestically and soldabroad are called imports.ANS: F DIF: 1 REF: 3-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Exports | Imports MSC: Definitional41. International trade may make some individuals in a nation better off, while other individuals are made worseoff.ANS: T DIF: 2 REF: 3-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive42. For international trade to benefit a country, it must benefit all citizens of that country.ANS: F DIF: 2 REF: 3-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive43. Some countries win in international trade, while other countries lose.ANS: F DIF: 2 REF: 3-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive44. Trade can make some individuals worse off, even as it makes the country as a whole better off.ANS: T DIF: 1 REF: 3-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Definitional45. Trade allows all countries to achieve greater prosperity.ANS: T DIF: 1 REF: 3-3NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: DefinitionalSHORT ANSWER1. Explain the difference between absolute advantage and comparative advantage. Which is more important indetermining trade patterns, absolute advantage or comparative advantage? Why?ANS:Absolute advantage refers to productivity, as in the producer who can produce a product at a lower cost in terms of the resources used in production. Comparative advantage refers to the producer who can produce a product at a lower opportunity cost. Comparative advantage is the principle upon which trade patterns are based. Comparative advantage is based on opportunity cost, and opportunity cost measures the real cost to an individual or country of producing a particular product. Opportunity cost is therefore the information necessary for an individual or nation to determine whether to produce a good or buy it from someone else.DIF: 2 REF: 3-2 NAT: AnalyticLOC: Gains from trade, specialization and tradeTOP: Absolute advantage | Comparative advantage | Trade MSC: InterpretiveChapter 3 /Interdependence and the Gains from Trade133 2.The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers. Alpha’s Production Possibilities FrontierOmega’s Production Possibilities Frontier 255075100125150175200225250255075100125150175200225250275300popcorn255075100125150175200225255075100125150175200225250275300popcorna. Assume that each country decides to use half of its resources in the production of each good.Show these points on the graphs for each country as point A.b. If these countries choose not to trade, what would be the total world production of popcorn andpeanuts?c. Now suppose that each country decides to specialize in the good in which each has acomparative advantage. By specializing, what is the total world production of each product now?d. If each country decides to trade 100 units of popcorn for 100 units of peanuts, show on thegraphs the gain each country would receive from trade. Label these points B.ANS: Alpha’s Production Possibilities Frontier Omega’s Production Possibilities Frontier A B Consumption with trade 255075100125150175200225250255075100125150175200225250275300popcorn A B Consumption with trade 255075100125150175200225255075100125150175200225250275300popcorn134 Chapter 3 /Interdependence and the Gains from Tradea.Alpha would be producing 125 units of peanuts and 75 units of popcorn (point A on its productionpossibilities frontier) and Omega would be producing 50 units of peanuts and 150 units of popcorn(point A on its production possibilities frontier).b.The total world production of peanuts would be 175 units and the total world production of popcornwould be 225 units.c.The total world production of peanuts would now be 250 units and the total world production ofpopcorn would now be 300 units.d.Alpha would be producing 250 units of peanuts and would trade 100 of them to Omega, leavingAlpha with 150 units of peanuts. Alpha would then receive 100 units of popcorn from Omega.Omega would be producing 300 units of popcorn and would trade 100 of them to Alpha, leavingOmega with 200 units of popcorn. Omega would then receive 100 units of peanuts from Alpha.DIF: 2 REF: 3-2 NAT: AnalyticLOC: Gains from trade, specialization and tradeTOP: Production possibilities frontier | Gains from trade MSC: Applicative3. Julia can fix a meal in 1 hour, and her opportunity cost of one hour is $50. Jacque can fix the same kind ofmeal in 2 hours, and his opportunity cost of one hour is $20. Will both Julia and Jacque be better off if she pays him $45 per meal to fix her meals? Explain.ANS:Since Julia's opportunity cost of preparing a meal is $50, and Jacque's opportunity cost of preparing a meal is $40, each of them will be better off by $5 per meal if this arrangement is made.DIF: 2 REF: 3-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Gains from tradeMSC: Applicative4. Gary and Diane must prepare a presentation for their marketing class. As part of their presentation, they mustdo a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides. It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides.a.How much time would it take the two to complete the project if they divide the calculations equally andthe slides equally?b.How much time would it take the two to complete the project if they use comparative advantage andspecialize in calculating or preparing slides?c.If Diane and Gary have the same opportunity cost of $5 per hour, is there a better solution than for eachto specialize in calculating or preparing slides?ANS:a.If both tasks are divided equally, it will take 11 hours for the calculations and 15 hours for the writing,for a total of 26 hours.b.If Diane specializes in calculating and Gary specializes in preparing slides, it will take 22 hours tocomplete the project.c.If Diane specializes in calculating, her opportunity cost will be $60; hence, Diane would be better off ifshe paid Gary any amount less than $60 to do the calculating. Since Gary's opportunity cost of doing thecalculations is only $50, he would be better off if Diane paid him between $50 and $60 dollars to do thecalculations. In this case, the total time spent on the project would be 20 hours.DIF: 2 REF: 3-2 NAT: AnalyticLOC: Gains from trade, specialization and trade TOP: Gains from tradeMSC: ApplicativeChapter 3 /Interdependence and the Gains from Trade 135 Sec00 - Interdependence and the Gains from TradeMULTIPLE CHOICE1. People who provide you with goods and servicesa.are acting out of generosity.b.do so because they get something in return.c.have chosen not to become interdependent.d.are required to do so by the government.ANS: B DIF: 1 REF: 3-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade MSC: Definitional2. When an economist points out that you and millions of other people are interdependent, he or she is referringto the fact that we alla.rely upon the government to provide us with the basic necessities of life.b.rely upon one another for the goods and services we consume.c.have similar tastes and abilities.d.are concerned about one another’s well-being.ANS: B DIF: 1 REF: 3-0NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Interdependence MSC: DefinitionalSec01 - Interdependence and the Gains from Trade - A Parable for the Modern EconomyMULTIPLE CHOICE1. Which of the following is not a reason people choose to depend on others for goods and services?a.to improve their livesb.to allow them to enjoy a greater variety of goods and servicesc.to consume more of each good without working any more hoursd.to allow people to produce outside their production possibilities frontiersANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Trade MSC: Interpretive2. When can two countries gain from trading two goods?a.when the first country can only produce the first good and the second country can only produce thesecond goodb.when the first country can produce both goods, but can only produce the second good at great cost,and the second country can produce both goods, but can only produce the first good at great costc.when the first country is better at producing both goods and the second country is worse atproducing both goodsd.Two countries could gain from trading two goods under all of the above conditions.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Interpretive3. Regan grows flowers and makes ceramic vases. Jayson also grows flowers and makes ceramic vases, butRegan is better at producing both goods. In this case, trade coulda.benefit both Jayson and Regan.b.benefit Jayson, but not Regan.c.benefit Regan, but not Jayson.d.benefit neither Jayson nor Regan.ANS: A DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative136 Chapter 3 /Interdependence and the Gains from Trade4. Ben bakes bread and Shawna knits sweaters. Ben and Shawna both like to eat bread and wear sweaters. Inwhich of the following cases is it impossible for both Ben and Shawna to benefit from trade?a.Ben cannot knit sweaters and Shawna cannot bake bread.b.Ben is better than Shawna at baking bread and Shawna is better than Ben at knitting sweaters.c.Ben is better than Shawna at baking bread and at knitting sweaters.d.Both Ben and Shawna can benefit from trade in all of the above cases.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative5. Shannon bakes cookies and Justin grows vegetables. In which of the following cases is it impossible for bothShannon and Justin to benefit from trade?a.Shannon does not like vegetables and Justin does not like cookies.b.Shannon is better than Justin at baking cookies and Justin is better than Shannon at growingvegetables.c.Justin is better than Shannon at baking cookies and at growing vegetables.d.Both Shannon and Justin can benefit from trade in all of the above cases.ANS: A DIF: 2 REF: 3-1NAT: Analytic LOC: Gains from trade, specialization and tradeTOP: Gains from trade MSC: Applicative6. The production possibilities frontier illustratesa.the combinations of output that an economy should produce.b.the combinations of output that an economy should consume.c.the combinations of output that an economy can produce.d.All of the above are correct.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Interpretive7. An economy’s production possibilities frontier is also its consumption possibilities frontiera.under all circumstances.b.under no circumstances.c.when the economy is self-sufficient.d.when the rate of tradeoff between the two goods being produced is constant.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Interpretive8. A production possibilities frontier is bowed outward whena.the more resources the economy uses to produce one good, the fewer resources it has available toproduce the other good.b.an economy is self-sufficient instead of interdependent and engaged in trade.c.the rate of tradeoff between the two goods being produced is constant.d.the rate of tradeoff between the two goods being produced depends on how much of each good isbeing produced.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: InterpretiveChapter 3 /Interdependence and the Gains from Trade 1379. A production possibilities frontier is a straight line whena.the more resources the economy uses to produce one good, the fewer resources it has available toproduce the other good.b.an economy is interdependent and engaged in trade instead of self-sufficient.c.the rate of tradeoff between the two goods being produced is constant.d.the rate of tradeoff between the two goods being produced depends on how much of each good isbeing produced.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Interpretive10. The following table contains some production possibilities for an economy for a given month.Sweaters Gloves43006?8100If the production possibilities frontier is bowed outward, then “?” could bea.100.b.150.c.200.d.250.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative11. The following table contains some production possibilities for an economy for a given month.Sweaters Gloves43006?8100If the production possibilities frontier is a straight line, then “?” must bea.100.b.150.c.200.d.250.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative12. The following table contains some production possibilities for an economy for a given year.Cars Newspapers104001236014?If the production possibilities frontier is bowed outward, then “?” could bea.340.b.330.c.320.d.310.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative13. The following table contains some production possibilities for an economy for a given year.Cars Newspapers104001236014?If the production possibilities frontier is a straight line, then “?” must bea.340.b.330.c.320.d.310.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative14. The following table contains some production possibilities for an economy for a given month.Bagels Donuts4015060?8050If the production possibilities frontier is bowed outward, then “?” could bea.50.b.75.c.100.d.125.ANS: D DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative15. The following table contains some production possibilities for an economy for a given month.Bagels Donuts4015060?8050If the production possibilities frontier is a straight line, then “?” must bea.50.b.75.c.100.d.125.ANS: C DIF: 2 REF: 3-1NAT: Analytic LOC: Understanding and applying economic modelsTOP: Production possibilities frontier MSC: Applicative。
曼昆经济学原理微观名词解释2-4(中英)
曼昆经济学原理微观名词解释CHAPER2-4（中英版）CHAPTER 2Thinking Like an EconomistCircular-flow diagram: a visual model of the economy that shows how dollars flow through markets among households and firms循环流量图：一个说明货币如何通过市场在家庭与企业之间流动的直观经济模型。
Production possibilities frontier: a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology生产可能性边界：表示在可得到的生产要素与生产技术既定时，一个经济所能生产的产品数量的各种组合的图形。
Microeconomics: the study of how house- holds and firms make decisions and how they interact in markets微观经济学：研究家庭与企业如何做出决策，以及它们如何在市场上相互交易的学科Macroeconomics: the study of economy-wide phenomena, including inflation, unemployment, and economic growth宏观经济学：研究整体经济现象，包括通货膨胀，失业和经济增长的学科。
Positive statements: claims that attempt to describe the world as it is实证表述：试图描述世界是什么样子的观点。
微观经济学讲义(平狄克)-英文版3 interdependence
Copyright © 2004 South-Western
A PARABLE FOR THE MODERN ECONOMY
• Imagine . . .
production:
• The number of hours required to produce a unit of output (for example, one pound of potatoes).
• The opportunity cost of sacrificing one good for another.
The farmer should produce potatoes. The rancher should produce meat.
Copyright © 2004 South-Western
Table 2 The Gains from Trade: A Summary
Copyright © 2004 South-Western
York on your TV made in Japan. • You drive to class in a car made of parts
manufactured in a half-dozen different countries.
Copyright © 2004 South-Western
Table 1 The Production Opportunities of the Farmer and Rancher
Copyright © 2004 South-Western
MCh_03 Interdependence and the Gains from Trade
• Who can produce potatoes at a lower cost? The farmer or the rancher?
Specialization and Trade 专业化与贸易
• Who has the absolute advantage? The Farmer or the rancher?
– 谁拥有绝对优势？农夫还是工人?
• Who has the comparative advantage? The Farmer or the rancher?
Interdependence and the Gains from Trade 相互依存和贸易得益
Chapter 3
Interdependence and Trade 相互依存和贸易
• 想象一下你一天典型的生活： • 早上，你用温州产的闹钟或东莞产的手机闹醒 • 你穿的衣服是浙江或者墨西哥制造，皮鞋是意大利 制造的 • 你喝的牛奶产自内蒙古 • 你开着上海产的车去上班，加的汽油是南京生产的 • 上半时你用的电脑是深圳产的，打印机是苏州产的， 纸张进口自印尼 • ……如此以及其他一切你生活中的物品 • 而所有的物品都有可能来自另外一个国家
• Without trade, economic gains are diminished.
– 没有贸易，经济得益减少了
The Farmer and the Rancher Specialize and Trade 农民和农场工人专业化生产并进行贸易
《微观经济学》教学大纲(英文版)
Syllabus for MicroeconomicsThe Nature of the Course：Specialized required courseSuitable Specialty: International economy and trade Marketing AccountingInformation Management and Systems Business AdministrationFinancial AdministrationCredit： 4Class Hours：64Authors：yijun liu ling langT he Purpose and Tasks of the CourseThis course is a basic professional course for undergraduate in the School of Business and Management. Through this course, students have a more comprehensive understanding of basic issues and basic viewpoints on the microeconomics. They can grasp the basic concepts of microeconomics, the basic idea, the basic analytical methods and basic theory as well. More important, lay ing a theoretical foundation for the further study of other professional courses.The Basic Requirements of the Course1．Require students to grasp the basic concept, the basic thought, the basic analysis method and the elementary theory of microeconomics.2．Require students to conduct self-study, and students are encouraged to widely read reference books to make it more understanding of basic economic theory and its application in all respects.3．Require teachers to pay close attention to using graphic tools and using mathematical tools properly.4．The advance curriculum is the higher mathematics.Outline the Content and Hours Allocation Recommendations Chapter 1Introduction 6 Class Hours §1 Ten Principles of Economics1.How People Make Decisions2. How People Interact3.How the Economy as a Whole Works§2 Thinking Like an Economist1.The Economist as a Scientist2. The Economist as a Policy Adviser3.Why Economist Disagree§3 the Using of Graphs in Economics （#）1.Graphic Drawing and Graphics Type in Economic Analysis2.Slope and Elasticity3. Note for Graphics Use in Economic Analysis§4 Interdependence and the Gains from Trade1.The Production Possibilities Frontier、Specialization and Tradeparative Advantage3.Applications of Comparative AdvantageChapter 2Supply and Demand（Ⅰ）：How Markets Work 8 Class Hours §1Markets and Competitionpetitive Market2.Other Markets§2 law of demand1.Demand and the Demand Curve2.Shifts in the Demand Curve and Shift of the Demand Curve3.Market Demand and Individual Demand§3 law of supply （#）1. Supply and the Supply Curve2. Shifts in the Supply Curve and Shift of the Supply Curve3.Market Supply and Individual Supply§4 Supply and Demand Model1.The Conditions of Supply and Demand Model2.Supply and Demand Model3.What happens to equilibrium when supply and demand shifts?4.Cobweb Theory （☆）§5Elasticity and The Applications of Elasticity Theory1.the Elasticity of Demand and Its Application2.the Elasticity of Supply and Its Application（#）§6Supply、Demand and Government Policies1.Controls on prices （#）2.How Taxes Affect Market Outcomes3.Can Good News for Farming Be Bad News for Farmers?Exercise classes 2Class Hours Chapter 3 Supply and Demand（Ⅱ）：Market and Welfare 16 Class Hours §1 The Theory of Consumer Choice 4 Class Hours1.Cardinal Utility Theory2. Preference Theory3.Application of The Theory of Consumer Choice§2 The Theory of Producer Choice 6 Class Hours1.The Organization of Production （#）2. Production Function and Factor Inputs3. The Cost Theory§3 Consumer Surplus 2Class Hours1.Willingness to Paying the Demand Curve to Measure Consumer Surplus3.How a Lower Price Raises Consumer Surplus§4 Producer Surplus（#）1.Cost and the Willingness to Sell2. Using the Supply Curve to Measure Producer Surplus3. How a Higher Price Raises Producer Surplus§5 Market Efficiency 2 Class Hours1.The Concept of Efficiency2.The Equilibrium Efficiency of the Competitive Firm(1)3.The conditions of the Efficient Competitive Firm§6 Application：The Cost of Taxation 2 Class Hours1.The Deadweight Loss of Taxation2.The Determinants of the Deadweight Loss3. Deadweight Loss and Tax Revenue as Taxes Vary§7 Application：International Trade （#）1.The Determinants of Trade2.The Winners and Losers from Trade3.The Arguments for Restricting TradeExercise classes 3 Class Hours Discussion class 1 Class Hour Chapter 4The Economics of the Public Sector 4 Class Hours §1 Externalities1.Externalities and Market Inefficiency2.Private Solutions to Externalities3.Public Policies toward Externalities§2 Public Goods and Common Resources1.The Different Kinds of Goods2.Public Goodsmon Resources§3 The Design of the Tax System（#）1.Taxes and Efficiency2.Taxes and EquityChapter 5 Supply and Demand（Ⅲ）：Enterprise behavior and industrial organization8 Class Hours§1Types of Market （#）§2 Firms in Competitive Markets 4 Class Hours1. The Demand Curve and Revenue Curve of the Competitive Firm2. The Short-run Decision and the Supply Curve of the Competitive Firm3. The Short-run Supply Curve of the Competitive Market4.The Competitive Firm's Long-run Decision5.The Long-run Supply Curve of the Competitive Firm6.The Equilibrium Efficiency of the Competitive Firm(2)§3 Monopoly 4 Class Hours1.Why Monopolies Arise2.The Demand Curve and Revenue Curve of the Monopolistic Firm3.The Monopolistic Firm's Short-run and Long-run Decision4.The Welfare Cost of Monopoly5.Public Policy toward Monopolies6.Price Discrimination§4 Oligopoly （#）1.Markets with Only a few Sellers2.Game Theory and the Economics of Cooperation3.Public Policy toward Oligopolies§5 Monopolistic Competition（#）1.The Demand Curve and Revenue Curve of The MonopolisticCompetitive Firm2. The Monopolistic Competitive Firm in the Short-run and Long-run3. Monopolistic Competition and the Welfare of Society4.AdvertisingExercise classes 1 Class Hour Discussion class 1 Class Hour Chapter 6 Supply and Demand（Ⅳ）：The Markets for the factors of production6 Class Hours§1 How Markets Determine Incomes1. Income and Wealth （#）2. Marginal Productivity Determines the Prices of Inputs§2 The Economics of Labor Market1.The Demand and Supply for Labor （#）2.Equilibrium in the Labor Market （#）3. Some Determinants of Equilibrium Wages4.The Economics of Discrimination§3 The Land Market and The Capital Marketnd and Rent2.Capital and Interest§4 Income Distribution （#）1.The Measurement of Inequality2.The Political Philosophy of Redistributing Income3.Policies to Reduce PovertyDiscussion class 2 Class Hours Chapter 7 Supply and Demand（Ⅴ）：(General equilibrium) Market and Welfare （☆）§1 General equilibrium1.Meaning of the Equilibrium2. The Equilibrium Model of Léon Walras3. The Two-sector Model of General Equilibrium§2 Welfare Economics1.The Social Welfare Function2.Equity and EfficiencyChapter 8Uncertainty and Information （☆）§1 Uncertainty in the Economy1. Uncertainties and Risks2. The Effectiveness of Property3. Measurement of Risk Cost§2 Information, Risk and Markets1. Insurance and Risk-sharing2. Private Information and Market3. Risk Management in the Financial MarketsReview class 2 Class Hours Flexible time 4 Class Hours note：（#）Expressed that students learn these contents on its own, and they are included in the scope of examination.（☆）Expressed that students can choose according to their interest in reading, but not included in the scope of examination.Recommended Teaching Materials and Major Reference Books1．[美]曼昆著，梁小民译，《经济学原理（第5版）》，机械工业出版社，2009年2．[美]保罗·萨缪尔森、威廉·诺德豪斯著，萧琛主译，《经济学（第18版）》，人民邮电出版社，2008年3．刘毅军主编，《经济学基础》，石油工业出版社，2006年。
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The shape of the PPF
The Shape of the PPF
The PPF could be a straight line, or bow-shaped Depends on what happens to opportunity cost as economy shifts resources from one industry to the other. (取决于经济将资源从一个行业转向另一个行业时机会
Differences in costs of production
The number of hours required to produce a unit of output.(For example,one pound of potatoes)
The opportunity cost of sacrificing one good for another.
Differences in the costs of production determine the following:
Who should produce what ?
Who can produce potatoes at a lower cost— the farmer or the rancher?
成本的变化情况)
If opp. cost remains constant, PPF is a straight line. —If opp. cost of a good rises as the economy produces more of the good, PPF is bow-shaped.
Definition from Wekipedia
In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more number of a good product or service than competitors, using the same amount of resources.
生产可能性：是指以一定量要素用于两种
产品生产时，由于对要素进行各种不同的分配， 使得两产品的产量有多种可能配合。这些可能 的配合，即为生产的可能性。
Production Opportunities
Minutes Needed to Make 1 Ounce of: Meat Potatoes Farmer 60 min/oz 15 min/oz Rancher 20 min/oz 10 min/oz. Amount Produced in 8 Hours Meat 8 oz 24 oz Potatoes 32oz 48 oz
Meat 24 (ounces)
(b) The Rancher’s Production Possibilities Frontier
12
B
0
24
48
Potatoes (ounces)
The PPF shows the various mixes of output that an economy can produce. It illustrates one of the principles: People face trade-offs.
Production Possibilities Frontier
Meat (ounces)
The Farmer’s Production Possibilities Frontier
8 4 A
0
16
32
Potatoes (ounces)
Production Possibilities Frontier
What does China trade for? America?
Case 2
Specialization of Workers
Concept:
Division of Labor
Adam Smith
• Advantages
►improve their skill
Disadvantage
►boredom due to
(如果一种物品的机会成本随着生产数量的增多而上升， 那PPF为曲线)
14
Introduction of Specialization ● The concentration on particular products or tasks ● Don’t have to produce everything you use yourself
A general observation… Individuals and nations rely on specialize production and exchange as a way to address problems caused by scarcity.
This gives rise to two questions… --Why is interdependence the norm? --What determines the pattern of production and trade?
Key Sentence:
Each would be better off if they specialized in producing the product they are more suited to produce ,and then trade with each other.
An Inquiry to the Nature and Causes of the Wealth of Nations
Purpose: Countering mercantilist ideas
"Absolute" but not “comparative”
"Absolute" but not “comparative”
Examples
Party
Widgets per Hour Number of employees
Party A can produce 5 widgets per hour with 3 employees. Party B can produce 10 widgets per hour with 3 employees. Which party do you think has the absolute advantage?
The farmer should produce potatoes. The rancher should produce meat.
Implication
Do what you do Best ;
Trade for the Rest.
Attempting to produce everything you want to consume yourself limits both your production and consumption possibilities.
A Parable for the Modern Economy
SUPPOSE… only two goods: potatoes and meat only two people: a potato farmer and a cattle rancher
What should each produce? Why should they trade?
● Choose what you can produce most efficiently(specialize)
The Farmer and the Rancher
Trade expands the set of consumption possibilities
The gains from trade (a summary)
Self-Sufficiency
Without trade with each other:
* Each consumes what they each produce. * The production possibilities frontier is also the consumption possibilities frontier(消费可能性边界).
Consider your typical day
Βιβλιοθήκη You wake up to an alarm clock made in Korea. You pour yourself orange juice made from Florida oranges and coffee from beans grown in Brazil. You put on some clothes made of cotton grown in Georgia and sewn in factories in Thailand. You watch the morning news broadcast from New York on your TV made in Japan. You drive to class in a car made of parts manufactured in a half-dozen different countries.
Case 1
Specialization of Countries
Countries all of have different resources, some are better at producing different things.