经济学原理英文版复习题

复习题：

一、True or False：

1. Government policies that improve equality usually increase efficiency at the same time.

2. A rational decisionmaker takes an action if and only if the marginal cost exceeds the marginal benefit.

3.Trade allows each person to specialize in the activities he or she does best, thus increasing each individual's productivity.

4. the production possibilities frontier shows the opportunity cost of one good as measured in terms of the other good.

5. 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.

6. For a country producing two goods, the opportunity cost of one good will be the inverse of the opportunity cost of the other good.

7. If a country has the comparative advantage in producing a product, then that country must also have the absolute advantage in producing that product.

8.An increase in the price of pizza will shift the demand curve for pizza to the left.

9. A decrease in supply shifts the supply curve to the right.

10. 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.

11. Suppose that when the price rises by 10% for a particular good, the quantity demanded of that good falls by 30%. The price elasticity of demand for this good is equal to 1/3.

12. Demand is inelastic if the price elasticity of demand is greater than 1.

13.A price ceiling is a legal minimum on the price at which a good or service can be sold.

14. A price floor set above the equilibrium price is not binding.

15 .The equilibrium of supply and demand in a market maximizes the total benefits to buyers and sellers of participating in that market.

16. Efficiency is related to the size of the economic pie, whereas equality is related to how the pie gets sliced and distributed.

17. When markets fail, public policy can potentially remedy the problem and increase economic efficiency.

18. As the size of a tax increases, the government's tax revenue rises, then falls.

19.Because the supply of land is perfectly elastic, the deadweight loss of a tax on land is very large.

20.In principle, trade can make a nation better off, because the gains to the winners exceed the losses to the losers.

21. If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of the tariff.

22. When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off.

23. A verage total cost reveals how much total cost will change as the firm alters its level of production.

24. Economies of scale often arise because higher production levels allow specialization among workers.

25. If long-run average total cost is rising, then the firm is experiencing economies of scale.

26. The shape of the marginal cost curve tells a producer something about the marginal product of her workers.

27. A firm operating in a perfectly competitive industry will shut down in the short run but earn losses if the market price is less than that firm’s average variable cost.

28. A firm will shut down in the short run if revenue is not sufficient to cover all of its fixed costs of production.

29. The marginal firm in a competitive market will earn zero economic profit in the long run.

30. Copyrights and patents are examples of barriers to entry that afford firms monopoly pricing powers.

31. Like competitive firms, monopolies choose to produce a quantity in which margi nal revenue equals marginal cost.

32. For a profit-maximizing firm in a monopolistically competitive market, when price is equal to average total cost, price must lie above marginal cost.

33. A firm in a monopolistically competitive market can earn both short-run and long-run profits.

34. When a firm in a monopolistically competitive market earns zero economic profit, its product price must equal marginal cost.

35. As the number of firms in an oligopoly becomes very large, the price effect disappears.

36. If two players engaged in a prisoner’s dilemma game are likely to repeat the game, they are more likely to cooperate than if they play the game only once.

二、Multiple Choice

1. In most societies, resources are allocated by

A a single central planner.

b B a small number of central planners.

c C those firms that use resources to provide goods an

d services.

d D th

e combined actions o

f millions of households and firms.

2. Sophia is planning her activities for a hot summer day. She would like to go to

the local swimming pool and see the latest blockbuster movie, but because she can only get tickets to the movie for the same time that the pool is open she can only choose one activity. This illustrates the basic principle that

a A people respond to incentives.