曼昆经济学第二章练习题

Chapter 2 Thinking Like an Economist

1. A simplifying assumption ( d )

a.affects the important conclusions of an economic model.

b.increases the level of detail in an economic model.

c.limits the validity of an economic model’s conclusion.

d.eliminates unnecessary details from an economic model.

2. The ultimate purpose of an economic model is to ( c )

a.explain reality as completely as possible.

b.establish assumptions that closely resemble reality.

c.help us to understand economic behavior.

d.guide government policy decisions.

3. An economic model ( c )

es equations to understand normative economic phenomena.

b.often omits crucial elements.

c.simplifies reality in order to focus on crucial elements.

d.cannot be proven wrong.

4. Which of the following activities would occur in a market for factors of production?

( d )

a.Reesa buys a new computer to help balance her personal checkbook.

b.Randy pays a speeding ticket.

c.Ian mows his grass.

d.General Motors hires additional workers to run a third-shift at a factory.

5. Which of the following activities would occur in a market for goods and services? ( d )

a.Harry mows his grass.

b.General Motors hires additional workers to run a third shift at a factory.

c.Jane bakes pies for Thanksgiving dinner.

d.Dolly buys a ticket to a ball gam

e.

6. The three sources of income for the household are ( b )

a.taxes, subsidies from the government, and rent.

b.wages, rent, and profit.

c.wages, rent, and subsidies from the government.

d.wages, rebates, and rent.

7. Households play what role(s) in the circular flow diagram? ( d )

a.purchasers of factors of production and sellers of services.

b.purchasers of factors of production and sellers of goods.

c.purchasers of goods and services only.

d.purchasers of goods and services and sellers of factors of production.

8. Which of the following is not an assumption that underlies an economy’s production possibilities frontier? ( c )

a.fixed income.

b.fixed resources.

c.unchanged technology.

d.fully employed resources.

9. Which of the following would not result in an outward shift of a nation’s production possibilities frontier? ( )

a. a reduction in the unemployment rate.

b. a rise in labor productivity.

c.advances in technology.

d.an expanding resource bas

e.

10. The production possibilities frontier demonstrates the basic economic principle that

( )

a.economies are always efficient.

b.assuming full employment, supply will always determine demand.

c.assuming full employment, an economy is efficient only when the production

of capital goods in a particular year is greater than the production of

consumption goods in that year.

d.assuming full employment, to produce more of any one thing, the economy

must produce less of at least one other good.

11. Opportunity costs most often increase as you move down a production possibilities frontier because ( )

a.resources are not completely adaptable to alternative uses.

b.factors of production are limited and human wants are unlimited.

c.efficiencies are generated by large-scale production.

d.economic efficiency is only possible in the short run.