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1、. . . . .Chapter 11. Economic analysis: A)involves some simplifications of reality. B)is only vaguely related to reality because if it did so coincide, it would not still be theory. C)is impossible, because of the impossibility of a controlled experiment. D)if it is good theory, involves no simplifi
2、cation of reality. E)involves so much distortion of reality as to be worthless. Ans:A2. What are economic goods? A)Goods that are very expensive. B)Goods that are in scarce or limited supply. C)Goods that a country produces and then trades to another county. D)Goods that are vital to an individuals
3、welfare. E)All of the above. Ans:B3. Scarcity in economics refers basically to: A)periods of famine. B)monopolization of existing supplies of goods. C)monopolization of resources to provide goods. D)monopolization of outlets to sell goods. E)none of the above. Ans:E4. Distribution in economics refer
4、s to: A)retailing, wholesaling, and transportation. B)what. C)how. D)for whom. E)none of the above.Ans:D5. The three questions of what, how, and for whom: A)relate to the three factors of production. B)exist because of scarcity. C)are more of a problem in a market economy. D)are more of a problem in
5、 a command economy. E)are no longer relevant. Ans:B6.The description of economics as, cool heads in the service of warm hearts, means that: A)allocating scarce resources may require painful decisions. B)costs and benefits need to be weighed objectively. C)the proper balance must be struck between th
6、e discipline of the market and the generosity of the welfare state. D)all of the above. E)none of the above. Ans:D7. When moving along a production possibilities frontier, the opportunity cost to society of obtaining more of one of the two goods: A)is measured in dollar terms. B)usually decreases as
7、 more of the good is produced. C)is measured by the amount of the other good that must be given up. D)is measured by the additional resources that must be used to produce the good. E)is usually constant. Ans:C8.These data reflect three possible combinations of food and nothing that can be produced f
8、rom a given set of resources.Food1050ClothingOX50Refer to the above data. If both clothing and food always use all inputs in the same proportion, then X must be: A)25. B)more than 25. C)less than 25. D)50. E)cannot not be determined from the data Ans:A9. Being on the production-possibility frontier
9、between guns and butter means that: A)it is impossible to produce any more guns. B)it is impossible to produce any more butter. C)more guns can be produced only by doing without some butter. D)population is in equilibrium. E)if society becomes more productive in producing butter, then we can have mo
10、re butter but not more guns. Ans:C10. A shift in a production-possibility frontier can result from: A)unemployment. B)inflation. C)changes in production techniques. D)changes in the combination of goods produced. E)changes in consumers tastes. Ans:C11 Figure 1-1Which point on the production-possibil
11、ity frontiers drawn in Figure 1 indicates no consumption goods being produced? A)A. B)B. C)C. D)D. E)E. Ans:E12. Of the following points, which point reflects the most efficient use of available resources in relation to frontier AE in Figure 1-1? A)F. B)G. C)C. D)H. E)Cannot tell from the informatio
12、n provided. Ans:C13.Relative to frontier AE in Figure 1-1, which of the following points is least efficient? A)B. B)C. C)B. D)C. E)F. Ans:E 14. Point A on which panel in Figure 1-2 represents an inefficient use of resources? A)Panel A. B)Panel B. C)Panel C. D)Panel D. E)Panel E.Ans:D15. For a theory
13、 to be useful, it must be confirmed in each test case. Ans:FalseCHAPTER 21. In a market system, the what decision is made most basically by A)representative government. B)national planning. C)bankers. D)advertisers and their ability to persuade buyers. E)spending decisions of those with money. Ans:E
14、2. In a market economy, the presumed harmony between individual and public interest depends upon: A)the good will of private business people. B)careful planning and coordination of economic activity. C)altruism on the part of consumers. D)competitive markets and the pursuit of self-interest by individuals. E)the wisdom of government decisions. Ans:D3. Pollution control policy is directed first and foremost at improving: A)equity. B)efficiency. C)stabil
