北京大学经济学原理作业

经济学原理

第一次作业

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1. Economic choice and competitive behavior are the result of

a. basic human greed.

b. poverty.

c. private ownership of resources.

d. scarcity.

2. Adam Smith argues in the Wealth of Nations that an economy will produce more goods and services if

a. people act in the public interest than if they act selfishly.

b. people act selfishly, than if the government directs economic activity.

c. the government controls the use of the nation's scarce resources.

d. people ignore their own interests and contribute to national wealth as a whol

e.

3. Which one of the following is a positive economic statement?

a. An increase in the minimum wage will reduce employment.

b. The minimum wage should be raised to reduce poverty.

c. Social conscience demands that we increase the minimum wage.

d. Thoughtful people oppose an increase in the minimum wag

e.

4. The cost to Air China of letting its employees fly at no charge

a. is zero.

b. will depend on the value employees place upon travel.

c. is greater during the Spring Festival than at most other times.

d. depends on the alternatives open to the employees.

5. Suppose you are considering going to the movies, and you place a RMB12 value on your anticipated enjoyment of the movie. The ticket price is RMB 6 and you would be giving up two hours of work, where you earn RMB5 per hour. You would go to

a. work; the total cost of the movies exceeds the expected benefit.

b. the movies; your incentive is the RMB6 excess expected benefit.

c. the movies; your enjoyment will exceed the lost wages by RMB2.

d. the movies; the benefit of RMB18 exceeds the lost wages.

6. Which of the following would most likely increase the demand for peanut butter?

a. a decrease in the price of bread, a good that is often used with peanut butter

b. a discovery that the average daily consumption of peanut butter decreases one's life span

by 15 years

c. crop failures that raise the price of peanuts

d. a decrease in the price of all substitute protein products

7. If an economy is operating at a point just on the production possibilities curve,

a. its resources are being wasted.

b. the curve will begin to shift inward.

c. the curve will begin to shift outwar

d.

d. the society is making full use of its resources.

Figure 01

8. Which of the following would most likely cause the production possibilities curve for breadfruit

and fish to shift from AA to BB in the above figure (Figure 01)?

a. an increase in the labor force

b. choosing more fish and less breadfruit

c. choosing more breadfruit and fewer fish

d. a decrease in the capital stock

9. When a price ceiling is below the equilibrium price,

a. quantity demanded will exceed quantity supplied.

b. quantity supplied will exceed quantity demanded.

c. the market will be in equilibrium.

d. This is a trick question because price floors generally exist below the equilibrium pric

e.

10. The price of chicken increases as the result of higher pork prices. This indicates that

a. chicken and pork are substitutes.

b. chicken and pork are complements.

c. the market demand for pork is inelastic.

d. the market demand for chicken is elastic.

11. The demand schedule for a good

a. indicates the market price of the good.

b. indicates the quantities of the good that people will buy at various prices, whenever

those prices prevail in the market.

c. illustrates the quantity producers will provide at alternative prices.

d. is determined primarily by the cost of producing the good.

12. When the price of LV bag rise, more people tend to buy it. Which of the following is correct:

a. The law of demand doesn’t work for luxury goods.

b. The law of demand still holds because people have expectations that the price will rise in

the future.

c. The law of demand still holds because people’s preference for LV bags change as more

people buy them.

d. The law of demand still holds because people’s income chang

e.

13. Which of the following would most likely cause the demand for Coca to increase?

a. a decrease in consumer income;

b.an increase in the price of Pepsi