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经济学原理对应练习 21

经济学原理对应练习 21
经济学原理对应练习 21

Chapter 21

The Theory of Consumer Choice

Multiple Choice

1. The theory of consumer choice provides the foundation for understanding

a. the structure of a firm.

b. the profitability of a firm.

c. a firm's product deman

d.

d. a firm's product supply.

ANS: C PTS: 1 DIF: 1 REF: 21-0

TOP: Consumer choice MSC: Definitional

2. The theory of consumer choice examines

a. the determination of output in competitive markets.

b. the tradeoffs inherent in decisions made by consumers.

c. how consumers select inputs into manufacturing production processes.

d. the determination of prices in competitive markets.

ANS: B PTS: 1 DIF: 1 REF: 21-0

TOP: Consumer choice MSC: Definitional

3. Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured by the

a. consumer's income divided by the price of hamburgers.

b. relative price of books and hamburgers.

c. consumer's marginal rate of substitution.

d. number of books purchased divided by the number of hamburgers purchased.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Interpretive

4. If a consumer's income decreases, the budget constraint for CDs and DVDs will

a. shift outward, parallel to the original budget constraint.

b. shift inward, parallel to the original budget constraint.

c. rotate outward along the CD axis because we can afford more CDs.

d. rotate outward along the DVD axis because we can afford more DVDs.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

5. If the relative price of a concert ticket is 3 times the price of a meal at a good restaurant, then the opportunity cost of

a concert ticket can be measured by the

a. slope of the budget constraint.

b. slope of an indifference curve.

c. marginal rate of substitution.

d. income effect.

ANS: A PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

6. When the price of a shirt falls, the

a. quantity of shirts demanded falls.

b. quantity of shirts demanded rises.

c. quantity of shirts supplied rises.

d. demand for shirts falls.

ANS: B PTS: 1 DIF: 1 REF: 21-1

TOP: Demand MSC: Analytical

898

Chapter 21/The Theory of Consumer Choice 899

7. A budget constraint

a. shows the prices that a consumer chooses to pay for products he consumes.

b. shows the purchases made by consumers.

c. shows the consumption bundles that a consumer can affor

d.

d. represents the consumption bundles that give a consumer equal satisfaction.

ANS: C PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Definitional

8. Assume that a college student spends her income on books and pizza. The price of a pizza is $8.00, and the price of a

book is $15. If she has $100 of income, she could choose to consume

a. 8 pizzas and 4 books.

b. 4 pizzas and 5 books.

c. 9 pizzas and 3 books.

d. 4 pizzas and 3 books.

ANS: D PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

9. Assume that a college student spends her income on mac-n-cheese and CDs. The price of one box of mac-n-cheese is

$1.00, and the price of one CD is $12.00. If she has $100 of income, she could choose to consume

a. 15 boxes of mac-n-cheese and 6 CDs.

b. 20 boxes of mac-n-cheese and 7 CDs.

c. 10 boxes of mac-n-cheese and 8 CDs.

d. 30 boxes of mac-n-cheese and 6 CDs.

ANS: A PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

10. A consumer that doesn't spend all of her income

a. would be at a point outside of her budget constraint.

b. would be at a point inside her budget constraint.

c. must not be consuming positive quantities of all goods.

d. must be consuming at a point where her budget constraint touches one of the axes.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Interpretive

11. An increase in income will cause a consumer's budget constraint to

a. shift outward, parallel to its initial position.

b. shift inward, parallel to its initial position.

c. pivot around the "Y" axis.

d. pivot around the "X" axis.

ANS: A PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

Figure 21-1

900 Chapter 21/The Theory of Consumer Choice

12. Refer to Figure 21-1. Which point in the figure showing a consumer’s budget constraint represents the consumer's

income divided by the price of a CD?

a. Point A

b. Point C

c. Point D

d. Point E

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

13. Refer to Figure 21-1. A consumer that chooses to spend all of her income could be at which point(s) on the budget

constraint?

a. A

b. E

c. B, C, or D

d. A, B, C, or D

ANS: C PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Applicative

14. Refer to Figure 21-1. All of the points identified in the figure represent possible consumption options with the

exception of

a. A

b. E

c. A and E

d. Non

e. All points are possible consumption options.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

Figure 21-2

Chapter 21/The Theory of Consumer Choice 901

15. Refer to Figure 21-2. Which of the graphs in the figure reflects a decrease in the price of good X only?

a. graph (a)

b. graph (b)

c. graph (c)

d. graph (d)

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

16. Refer to Figure 21-2. Which of the graphs in the figure reflects an increase in the price of good Y only?

a. graph (a)

b. graph (b)

c. graph (c)

d. graph (d)

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

17. Refer to Figure 21-2. Which of the graphs in the figure could reflect a decrease in the prices of both goods?

a. graph (a)

b. graph (b)

c. graph (c)

d. graph (d)

ANS: D PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

18. The slope of the budget constraint is determined by the

a. relative price of the goods measured on the axes.

b. relative price of the goods measured on the axes and the consum er’s income.

c. endowment of productive resources.

d. preferences of the consumer.

ANS: A PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Definitional

19. The slope of the budget constraint is all of the following except

a. the relative price of two goods.

b. the rate at which a consumer can trade one good for another.

c. the marginal rate of substitution.

d. constant.

ANS: C PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Definitional

Figure 21-3

902 Chapter 21/The Theory of Consumer Choice

20. Refer to Figure 21-3. In graph (a), if income is equal to $120, the price of good y is

a. $1

b. $2

c. $3

d. $4

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

21. Refer to Figure 21-3. In graph (a), what is the price of good y relative to good x (i.e., P y/P x)?

a. 1/3

b. 1/4

c. 3

d. 4

ANS: B PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Applicative

22. Refer to Figure 21-3. In graph (b), what is the price of good x relative to good y (i.e., P x/P y)?

a. 2/7

b. 3/6

c. 7/2

d. 7

ANS: A PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Applicative

23. Refer to Figure 21-3. Assume that a consumer faces both budget constraints in graph (a) and graph (b) on two

different occasions. If her income has remained constant, what has happened to prices?

a. The price of X in graph (a) is higher than the price of X in graph (b).

b. The price of Y in graph (a) is higher than the price of Y in graph (b).

c. The prices of both X and Y are lower in graph (a).

d. None of the above are tru

e.

ANS: A PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Analytical

24. Suppose a consumer spends her income on two goods: music CDs and DVDs. If the consumer has $200 to allocate to

these two goods, the price of a CD is $10, and the price of a DVD is $20, what is the maximum number of CDs the consumer can purchase?

a. 10

b. 20

c. 40

d. 50

ANS: B PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Applicative

25. Suppose a consumer spends her income on two goods: music CDs and DVDs. If the price of a CD is $8, the price of

a DVD is $20, and we graph the budget constraint by placing the quantity of CDs purchased on the horizontal axis,

what is the slope of the budget constraint?

a. -5.0

b. -2.5

c. -0.4

d. The slope of the budget constraint cannot be determined without knowing the income the consumer has available

to spend on the two goods.

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

Chapter 21/The Theory of Consumer Choice 903 26. Suppose a consumer is currently spending all of her available income on two goods: music CDs and DVDs. If the

price of a CD is $9, the price of a DVD is $18, and she is currently consuming 10 CDs and 5 DVDs, what is the consumer's income?

a. $90

b. $180

c. $270

d. $360

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

27. A consumer is currently spending all of her available income on two goods: music CDs and DVDs. At her current

consumption bundle she is spending twice as much on CDs as she is on DVDs. If the consumer has $120 of income and is consuming 10 CDs and 2 DVDs, what is the price of a CD?

a. $4

b. $8

c. $12

d. $20

ANS: B PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Analytical

28. The following diagram shows a budget constraint for a particular consumer.

If the price of x is $10, what is the price of y?

a. $15

b. $25

c. $35

d. $70

ANS: C PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Analytical

29. Budget constraints exist for consumers because

a. their utility from consuming goods eventually reaches a maximum level.

b. even with unlimited incomes they have to pay for each good they consume.

c. they have to pay for goods and they have limited incomes.

d. prices and incomes are inversely related.

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Interpretive

904 Chapter 21/The Theory of Consumer Choice

30. A family on a trip budgets $800 for meals and gasoline. If the price of a meal for the family is $50, how many meals

can the family buy if they do not buy any gasoline?

a. 8

b. 16

c. 24

d. 32

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

31. A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40. In addition,

suppose the family could afford a total of 8 nights in a hotel if they don’t buy any meals. How many meals could the family afford if they gave up two nights in the hotel?

a. 1

b. 2

c. 5

d. 8

ANS: C PTS: 1 DIF: 3 REF: 21-1

TOP: Budget constraint MSC: Applicative

32. If the price of bread is zero, the budget constraint between bread (on the vertical axis) and cheese (on the horizontal

axis) would

a. be vertical.

b. coincide with the vertical axis.

c. coincide with the horizontal axis.

d. be horizontal.

ANS: A PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

Scenario 21-1

Suppose the price of pizza is $10, the price of cola is $1, and the consumer’s income is $50. In addition, suppose the con sumer’s budget constraint measures pizza on the horizontal axis and cola on the vertical axis.

33. Refer to Scenario 21-1. If the price of cola doubles to $2, then the

a. budget constraint intersects the vertical axis at 25 colas.

b. slope of the budget constraint rises to -2.

c. budget constraint intersects the vertical axis at 100 colas.

d. budget constraint shifts inward in a parallel fashion.

ANS: A PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

34. Refer to Scenario 21-1. If the consumer's income rises to $60, then the budget line for pizza and cola would

a. now intersect the horizontal axis at 6 pizzas and the vertical axis at 60 colas.

b. not change.

c. now intersect the horizontal axis at 4 pizzas and the vertical axis at 16 colas.

d. rotate outward along the cola axis.

ANS: A PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Applicative

35. An increase in a consumer's income

a. increases the slope of the consumer's budget constraint.

b. has no effect on the slope of the consumer's budget constraint.

c. decreases the slope of the consumer's budget constraint.

d. has no effect on the consumer's budget constraint.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

Chapter 21/The Theory of Consumer Choice 905

36. A decrease in a consumer's income

a. increases the slope of the consumer's budget constraint.

b. has no effect on the consumer's budget constraint.

c. decreases the slope of the consumer's budget constraint.

d. has no effect on the slope of the consumer's budget constraint.

ANS: D PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Analytical

37. The price of gin has risen from $7 to $9 per bottle, the price of cocktail onions has fallen from $6 to $5 per jar, and

Elizabeth's income has stayed fixed at $46 per week. Since the price changes, Elizabeth has been buying 4 bottles of gin and 2 jars of cocktail onions per week. At the original prices, 4 bottles of gin and 2 jars of cocktail onions would have

a. exactly exhausted her income.

b. cost more than her income.

c. cost less than her income.

d. could have maximized her satisfaction given her budget constraint.

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

38. The price of gin has risen from $7 to $9 per bottle, the price of cocktail onions has fallen from $6 to $5 per jar, and

Elizabeth's income has stayed fixed at $46 per week. If you put gin on the vertical axis and cocktail onions on the horizontal axis, then the budget constraint

a. is steeper after the price changes.

b. is flatter after the price changes.

c. is the same after the price changes.

d. shifts in parallel to the old budget constraint after the price changes.

ANS: B PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

39. Suppose the only two goods that Brett consumes are wine and cheese. When wine sells for $10 a bottle and cheese

sell for $10 a pound, he buys 6 bottles of wine and 4 pounds of cheese — spending his entire income of $100. One day the price of wine falls to $5 a bottle and the price of cheese increases to $20 a pound, while his income does not change. The bundle of wine and cheese that he purchased at the old prices, now costs, at the new prices,

a. the same amount.

b. less than Brett's income.

c. more than Brett's income.

d. not enough information to answer the question.

ANS: C PTS: 1 DIF: 1 REF: 21-1

TOP: Budget constraint MSC: Applicative

40. Suppose the only two goods that Brett consumes are wine and cheese. When wine sells for $10 a bottle and cheese

sell for $10 a pound, he buys 6 bottles of wine and 4 pounds of cheese — spending his entire income of $100. One day the price of wine falls to $5 a bottle and the price of cheese increases to $20 a pound, while his income does not change. If you place wine on the vertical axis and cheese on the horizontal axis, then

a. the slope of Brett's budget has not changed.

b. the slope of Brett's budget constraint is flatter at the new prices.

c. the slope of Brett's budget constraint is steeper at the new prices.

d. Brett's budget constraint has shifted in parallel to the budget constraint with the old prices.

ANS: C PTS: 1 DIF: 2 REF: 21-1

TOP: Budget constraint MSC: Applicative

41. Consider the indifference curve map for nickels and quarters. Assume nickels are on the vertical axis and quarters are

on the horizontal axis. The indifference curves for nickels and quarters

a. are straight lines with slope of -1/5

b. are straight lines with a slope of -1.

c. are straight lines with a slope of -5.

d. are L shaped.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Perfect substitutes MSC: Applicative

906 Chapter 21/The Theory of Consumer Choice

42. All of the following are properties of indifference curves except

a. higher indifference curves are preferred to lower ones.

b. indifference curves are downward sloping.

c. indifference curves do not cross.

d. indifference curves are bowed outward.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

43. A consumer’s preferences for right shoes and left shoes can be represented by indifference curves that are

a. bowed out from the origin

b. bowed in towards the origin

c. straight lines

d. right angles

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

44. A consumer’s preferences for $1 bills and $20 bills can be represented by indifference curves that are

a. bowed out from the origin

b. bowed in towards the origin

c. straight lines

d. right angles

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

45. Economists represent a consumer's preferences using

a. demand curves.

b. budget constraints.

c. indifference curves.

d. supply curves.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Definitional

46. If two bundles of goods give a consumer the same satisfaction, the consumer must be

a. on her budget constraint.

b. in a position of equilibrium.

c. indifferent between the bundles.

d. Both a and c are correct.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

Figure 21-4

Chapter 21/The Theory of Consumer Choice 907

47. Refer to Figure 21-4. Which of the following statements is correct?

a. Point A is preferred equally to point E.

b. Point A is preferred equally to point C.

c. The bundle associated with point B contains more Ho-Ho's than that associated with point C.

d. The bundles along indifference curve I1 are preferred to those along indifference curve I2.

ANS: B PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Analytical

48. Refer to Figure 21-4. Which of the following statements is true?

a. If a consumer moves from point C to point A, her loss of Ho-Ho's cannot be compensated for by an increase in

Twinkies.

b. Point E is preferred to all other points identified in the figure.

c. Since more is preferred to less, point C may be preferred to point E in some circumstances for this consumer.

d. Even though point E has more of both goods than point B, we could draw a different set of indifference curves in

which point B is preferred to point E.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

49. Refer to Figure 21-4. Which of the following statements is not true for a consumer who moves from point B to point

C?

a. At point C the consumer would be willing to give up a larger number of Ho-Hos in exchange for a Twinkie than

at point B.

b. The marginal rate of substitution at points C and B are the same since the points lie on the same indifference

curve.

c. The consumer is willing to sacrifice Twinkies to obtain Ho-Ho's.

d. The consumer receives the same level of satisfaction at points B and C.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

50. Refer to Figure 21-4. Which of the following statements is true for a consumer who moves from point A to point D?

a. It is difficult to compare the level of consumer satisfaction between points D and A.

b. The consumer is indifferent between point A and point D.

c. The consumer is definitely worse off.

d. The consumer is likely to place a higher relative value on Twinkies at point A than at point D.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

51. Refer to Figure 21-4. A person that chooses to consume bundle C is likely to

a. receive higher total satisfaction at point C than at point A.

b. spend more on bundle C than bundle A.

c. receive higher marginal utility from Ho-Ho's than from Twinkies.

d. receive higher marginal utility from Twinkies than from Ho-Ho's.

ANS: D PTS: 1 DIF: 2 REF: 21-3

TOP: Indifference Curve MSC: Analytical

52. Indifference curves graphically represent

a. an income level sufficient to allow an individual to achieve a given level of satisfaction.

b. the constraints faced by individuals.

c. an individual's preferences.

d. the relative price of commodities.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Definitional

53. The slope of an indifference curve is

a. the rate of change of consumer's preferences.

b. the marginal rate of preference.

c. the marginal rate of substitution.

d. always equal to the slope of the budget constraint.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Marginal rate of substitution MSC: Definitional

908 Chapter 21/The Theory of Consumer Choice

54. The rate at which a consumer is willing to exchange one good for another, and maintain a constant level of

satisfaction, is called the

a. relative expenditure ratio.

b. value of marginal product.

c. marginal rate of substitution.

d. relative price ratio.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Marginal rate of substitution MSC: Definitional

55. If an indifference curve is bowed in toward the origin, the marginal rate of substitution is

a. not likely to reflect the relative value of goods.

b. likely to be constant for all bundles along the indifference curve.

c. likely to be identical to the price ratio for each bundle along the indifference curve.

d. different for each bundle along the indifference curv

e.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Marginal rate of substitution MSC: Interpretive

56. The marginal rate of substitution is

a. the slope of a budget constraint.

b. always constant.

c. the slope of an indifference curve.

d. the point at which the budget constraint and the indifference curve is tangent.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Marginal rate of substitution MSC: Definitional

57. The rate at which a consumer is willing to trade one good for another to maintain the same level of satisfaction is

affected by

a. the prices of the products.

b. the amount of each good the consumer is currently consuming.

c. the consumer’s income.

d. the marginal value product.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Marginal rate of substitution MSC: Analytical

58. As long as a consumer remains on the same indifference curve

a. she is indifferent to all points which lie on any other indifference curve.

b. her preferences will not affect the marginal rate of substitution.

c. she is unable to decide which bundle of goods to choose.

d. she is indifferent among the points on that curv

e.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Marginal rate of substitution MSC: Interpretive

59. A consumer

a. is equally satisfied with any indifference curve.

b. prefers indifference curves with positive slopes.

c. prefers higher indifference curves to lower indifference curves.

d. is generally unable to place all consumption bundles on an indifference curv

e.

ANS: C PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

60. A consumer's preferences provide a

a. ranking of the set of bundles that happen to fall on indifference curves.

b. relative ranking of bundles that provide more of all goods.

c. framework for evaluating market equilibriums.

d. complete ranking of all possible consumption bundles.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Definitional

Chapter 21/The Theory of Consumer Choice 909

61. Which of the following is a property of indifference curves?

a. Indifference curves cross to explain higher preferences.

b. Indifference curves have positive slopes.

c. Indifference curves are downward sloping and always linear.

d. Indifference curves are bowed in toward the origin.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

62. Higher indifference curves are preferred to lower ones as long as the

a. marginal rate of substitution is diminishing.

b. products in the bundle are "bads."

c. products in the bundle are "goods."

d. budget constraint does not shift.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

63. Indifference curves that cross would suggest that

a. the consumer does not prefer more to less.

b. the consumer is likely to prefer a redistribution of income from rich to poor.

c. different individuals have different preferences for the same goods.

d. the marginal rate of substitution is the same for both indifference curves.

ANS: A PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

64. When indifference curves are bowed in toward the origin,

a. a consumer is less inclined to trade away goods they are lacking.

b. a consumer's willingness to trade away goods they have in abundance diminishes.

c. an increase in income will shift the indifference curve away from the origin.

d. a decrease in income will shift the indifference curve away from the origin.

ANS: A PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

65. Which of the following is not true? Indifference curves

a. are downward sloping.

b. that are closer to the origin are preferable to indifference curves further from the origin.

c. are bowed in toward the origin.

d. do not cross.

ANS: B PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

66. As one moves down a typical indifference curve, the marginal rate of substitution

a. increases.

b. decreases.

c. is constant.

d. will switch from positive to negativ

e.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

67. When two goods are perfect substitutes, the marginal rate of substitution

a. is constant along the indifference curve.

b. decreases as the scarcity of one good increases.

c. increases as the scarcity of one good increases.

d. changes to reflect the consumer’s changing preferences for the goods.

ANS: A PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

910 Chapter 21/The Theory of Consumer Choice

Figure 21-5

68. Refer to Figure 21-5. Which of the graphs shown may represent indifference curves?

a. graph (a)

b. graph (b)

c. graph (c)

d. All of the above are correct.

ANS: D PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

69. Refer to Figure 21-5. Which of the graphs shown represent indifference curves for perfect substitutes?

a. graph (a)

b. graph (b)

c. graph (c)

d. None of the above is correct.

ANS: A PTS: 1 DIF: 1 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

70. When two goods are perfect complements they will have

a. indifference curves with a positive slope.

b. indifference curves that are right angles.

c. indifference curves with a constant marginal rate of substitution.

d. Both b and c are correct.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

71. "Left" gloves and "right" gloves provide a good example of

a. perfect substitutes.

b. perfect complements.

c. negatively sloped indifference curves.

d. positively sloped indifference curves.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Perfect complements MSC: Analytical

Chapter 21/The Theory of Consumer Choice 911

72. When two goods are perfect complements, the indifference curves are

a. positively sloped.

b. negatively sloped.

c. straight lines.

d. right angles.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Perfect complements MSC: Interpretive

73. A set of indifference curves that are only slightly bowed inward represent goods that could best be described as

a. perfect substitutes.

b. perfect complements.

c. very close substitutes.

d. very close complements.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

74. The bowed shape of the indifference curve reflects the consumer's

a. unwillingness to give up a good that he already has in large quantity.

b. unwillingness to purchase a good that he already has in large quantity.

c. greater willingness to give up a good that he already has in large quantity.

d. greater willingness to purchase a good that he already has in large quantity.

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

75. The following diagram shows one indifference curve representing the preferences for goods x and y for one

consumer.

What is the marginal rate of substitution between points A and B?

a. 2/5

b. 1

c. 5/2

d. 3

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Marginal rate of substitution MSC: Analytical

912 Chapter 21/The Theory of Consumer Choice

76. The following diagram shows one indifference curve representing the preferences for goods x and y for one

consumer.

What is the marginal rate of substitution between points A and B?

a. 1/2

b. 4/3

c. 2

d. 3

ANS: C PTS: 1 DIF: 2 REF: 21-2

TOP: Marginal rate of substitution MSC: Analytical

77. A consumer has preferences over two goods: books and movies. Two bundles, which lie on the same indifference

curve for this consumer, are shown in the table below.

Which of the following bundles could not lie on the same indifference curve with A and B and satisfy the four properties of indifference curves?

a. One movie and five books

b. Three movies and three books

c. Five movies and one book

d. One movie and seven books

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Analytical

78. A consumer has preferences over two goods: books and movies. Three bundles, which all lie on the same

indifference curve for this consumer, are shown in the table below.

Assuming that these goods are neither perfect substitutes nor perfect complements for this consumer, which of the following properties of indifference curves would this consumer's preferences violate?

a. Indifference curves are downward sloping.

b. Indifference curves do not cross.

c. Indifference curves are bowed inwar

d.

d. These bundles do not violate any of the properties of indifference curves.

ANS: C PTS: 1 DIF: 3 REF: 21-2

TOP: Indifference Curve MSC: Analytical

Chapter 21/The Theory of Consumer Choice 913 79. A consumer has preferences over two goods: x and y. Three bundles, which all lie on the same indifference curve for

this consumer, are shown in the following table.

Which of the following statements regarding these bundles is correct?

a. The goods are perfect substitutes for this consumer.

b. The goods are perfect complements for this consumer.

c. These bundles violate the property that indifference curves are bowed inwar

d.

d. These bundles violate the property that indifference curves do not cross.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Perfect complements MSC: Analytical

80. As more units of an item are purchased, everything else equal, marginal satisfaction from consuming additional units

will tend to

a. decrease at the same rate for all consumers.

b. decrease but at different rates for different people.

c. increase at the same rate for all consumers.

d. increase but at a decreasing rate for all consumers.

ANS: B PTS: 1 DIF: 2 REF: 21-2

TOP: Marginal utility MSC: Interpretive

81. Suppose Rich always uses two packets of sugar with his coffee. Rich's indifference curves for sugar and coffee are

a. bowed inward.

b. bowed outward.

c. straight lines.

d. L shaped.

ANS: D PTS: 1 DIF: 1 REF: 21-2

TOP: Perfect complements MSC: Applicative

82. Indifference curves tend to be bowed inward because of diminishing

a. marginal rates of substitution.

b. demand for the good as prices rise.

c. income.

d. Both a and b are correct.

ANS: A PTS: 1 DIF: 2 REF: 21-2

TOP: Indifference Curve MSC: Interpretive

83. Laura consumes only beer and chips. Her indifference curves are all bowed inward. Consider the bundles (2,6), (4,4),

and (6,2). If Laura is indifferent between (2,6) and (6,2), then Laura must

a. prefer (4,4) to (6,2).

b. be indifferent between (4,4) and (6,2).

c. prefer (6,2) to (4,4).

d. prefer (2,6) to (4,4).

ANS: A PTS: 1 DIF: 2 REF: 21-2

TOP: Consumer choice MSC: Analytical

84. When considering her budget, the highest indifference curve that a consumer can reach is the

a. one that is tangent to the budget constraint.

b. indifference curve farthest from the origin

c. indifference curve that intersects the budget constraint in at least two places.

d. None of the above is correct; consumer preferences are bounded.

ANS: A PTS: 1 DIF: 1 REF: 21-3

TOP: Consumer choice MSC: Interpretive

914 Chapter 21/The Theory of Consumer Choice

85. When economists describe preferences, they often use the concept of

a. markets.

b. income.

c. utility.

d. prices.

ANS: C PTS: 1 DIF: 1 REF: 21-3

TOP: Utility MSC: Interpretive

86. Utility measures

a. the income a consumer receives from consuming a bundle of goods.

b. the satisfaction a consumer receives from consuming a bundle of goods.

c. the satisfaction a consumer places on their budget constraint.

d. All of the above are correct.

ANS: B PTS: 1 DIF: 1 REF: 21-3

TOP: Utility MSC: Definitional

87. A rational consumer is likely to have maximized her

a. preferences.

b. marginal rate of substitution.

c. utility.

d. budget constraint.

ANS: C PTS: 1 DIF: 1 REF: 21-3

TOP: Utility MSC: Interpretive

88. If John's marginal utility derived from the consumption of another candy bar is 1 and the price of the candy bar is

$1.50, then

a. this is the last candy bar John will purchase since the marginal utility is less than the price.

b. the opportunity cost of the candy bar is less than $1.50.

c. if John purchases and consumes the candy bar his total satisfaction will go down since the marginal utility is less

than the price.

d. there is not enough information to determine if John will or will not purchase the candy bar.

ANS: D PTS: 1 DIF: 3 REF: 21-3

TOP: Marginal utility MSC: Analytical

89. Each of the following are characteristics of an indifference curve map except

a. moving northeast to a new indifference curve will increase utility.

b. points on the same indifference curve yield equal utility.

c. the axes represent levels of utility for each of the goods.

d. indifference curves cannot cross.

ANS: C PTS: 1 DIF: 2 REF: 21-3

TOP: Indifference Curve MSC: Interpretive

90. The marginal rate of substitution between two goods always equals the

a. marginal utility of one divided by the marginal utility of the other.

b. marginal utility of one times the marginal utility of the other.

c. price of one good divided by the price of the other.

d. Both a and c are correct.

ANS: A PTS: 1 DIF: 2 REF: 21-3

TOP: Marginal rate of substitution MSC: Interpretive

91. Dave consumes two normal goods, X and Y, and is currently at an optimum. If the price of good X falls, we can

predict with certainty that

a. Dave will definitely consume more of both goods since his real income has risen.

b. the substitution effect will be positive for good X and negative for good Y.

c. may consume more or less of good X and he will definitely consume less of good Y.

d. the substitution effect will offset the income effect for good X.

ANS: B PTS: 1 DIF: 2 REF: 21-3

TOP: Consumer choice MSC: Analytical

Chapter 21/The Theory of Consumer Choice 915 92. The relationship between the marginal utility that Wendy gets from eating hamburgers and the number of

hamburgers she eats per month is as follows:

Wendy receives 3 units of utility from the last dollar spent on each of the other goods she consumes. If hamburgers cost $4 each, how many hamburgers will she consume per month if she maximizes utility?

a. 2

b. 3

c. 4

d. 5

ANS: B PTS: 1 DIF: 3 REF: 21-3

TOP: Consumer choice MSC: Applicative

93. George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per

gallon and he consumes it to the point where the marginal utility he receives from drinking a gallon of milk is 6.

Cookies cost $4 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows:

How many bags of cookies does George buy each month?

a. 1

b. 2

c. 3

d. 4

ANS: C PTS: 1 DIF: 3 REF: 21-3

TOP: Consumer choice MSC: Applicative

94. A fall in the price of DVD players leads consumers to buy more DVD players. From this information we can

conclude that DVD players

a. are normal goods.

b. are inferior goods.

c. are Giffen goods.

d. None of the above is correct.

ANS: D PTS: 1 DIF: 3 REF: 21-3

TOP: Income effect MSC: Interpretive

95. Consider a consumer who purchases two goods, X and Y. If the price of good Y falls, then the substitution effect by

itself will

a. cause the consumer to buy more of good Y and less of good X.

b. cause the consumer to buy more of good X and less of good Y.

c. not affect the amount of goods X and Y that the consumer buys.

d. result in an upward-sloping demand for good Y if the substitution effect is positiv

e.

ANS: A PTS: 1 DIF: 2 REF: 21-3

TOP: Substitution effect MSC: Analytical

96. If goods X and Y are perfect complements, then if the price of good Y falls, changes in the amount of goods X and Y

purchased are due

a. strictly to the substitution effect.

b. strictly to the income effect.

c. to both the income and substitution effects

d. strictly to the complement effect.

ANS: B PTS: 1 DIF: 3 REF: 21-3

TOP: Perfect complements MSC: Analytical

916 Chapter 21/The Theory of Consumer Choice

97. The consumer's optimal choice is the one in which the marginal utility per dollar spent on good X

a. is equal to the marginal utility per dollar saved on good X.

b. is greater than the marginal utility per dollar spent on good Y.

c. is equal to the marginal utility per dollar spent on good Y.

d. is less than the marginal utility per dollar spent on good Y.

ANS: C PTS: 1 DIF: 1 REF: 21-3

TOP: Consumer choice MSC: Interpretive

98. The goal of the consumer is to

a. maximize utility.

b. be on the highest indifference curve.

c. maximize satisfaction.

d. All of the above are the goals of the consumer.

ANS: D PTS: 1 DIF: 1 REF: 21-3

TOP: Consumer choice MSC: Interpretive

99. Beer and pretzels are normal goods. When the price of beer falls, the income effect causes a

a. shift to a lower indifference curve and the consumer buys less pretzels.

b. shift to a higher indifference curve and the consumer buys more pretzels.

c. movement along the indifference curve and the consumer buys less pretzels.

d. movement along the indifference curve and the consumer buys more pretzels.

ANS: B PTS: 1 DIF: 3 REF: 21-3

TOP: Income effect MSC: Analytical

100. Pepsi and pizza are normal goods. When the price of pizza falls, the substitution effect causes a

a. shift to a lower indifference curve and the consumer buys less Pepsi.

b. shift to a higher indifference curve and the consumer buys more Pepsi.

c. movement along the indifference curve and the consumer buys more Pepsi.

d. movement along the indifference curve and the consumer buys less Pepsi.

ANS: D PTS: 1 DIF: 3 REF: 21-3

TOP: Substitution effect MSC: Analytical

101. Beer and pretzels are normal goods. When the price of beer falls, the income effect causes

a. the consumer to feel richer, so the consumer buys more pretzels.

b. the consumer to feel richer, so the consumer buys less pretzels.

c. pretzels to be relatively more expensive, so the consumer buys more pretzels.

d. pretzels to be relatively less expensive, so the consumer buys less pretzels.

ANS: A PTS: 1 DIF: 2 REF: 21-3

TOP: Income effect MSC: Analytical

102. Beer and pretzels are normal goods. When the price of beer falls, the substitution effect causes

a. the consumer to feel richer, so the consumer buys more pretzels.

b. the consumer to feel richer, so the consumer buys less pretzels.

c. pretzels to be relatively more expensive, so the consumer buys less pretzels.

d. pretzels to be relatively less expensive, so the consumer buys more pretzels.

ANS: C PTS: 1 DIF: 2 REF: 21-3

TOP: Substitution effect MSC: Analytical

103. Pepsi and pizza are normal goods. When the price of pizza rises, the substitution effect causes Pepsi to be relatively

a. more expensive, so the consumer buys more Pepsi.

b. more expensive, so the consumer buys less Pepsi.

c. less expensive, so the consumer buys more Pepsi.

d. less expensive, so the consumer buys less Pepsi.

ANS: C PTS: 1 DIF: 2 REF: 21-3

TOP: Substitution effect MSC: Analytical

Chapter 21/The Theory of Consumer Choice 917 104. An increase in income will cause a shift in the budget constraint

a. outward.

b. towards the good most consumed.

c. towards the good least consume

d.

d. inward.

ANS: A PTS: 1 DIF: 1 REF: 21-3

TOP: Budget constraint MSC: Interpretive

105. A decrease in income will cause a shift in the budget constraint

a. outward.

b. towards the good most consumed.

c. towards the good least consume

d.

d. inward.

ANS: D PTS: 1 DIF: 1 REF: 21-3

TOP: Budget constraint MSC: Interpretive

106. An outward shift of the budget constraint will cause a consumer to buy

a. fewer normal goods and more inferior goods.

b. more normal goods and fewer inferior goods.

c. more normal goods and more inferior goods.

d. fewer normal goods and fewer inferior goods.

ANS: B PTS: 1 DIF: 2 REF: 21-3

TOP: Budget constraint MSC: Interpretive

107. To derive the demand curve for a good the

a. income effect must be greater than the substitution effect.

b. substitution effect must be greater than the income effect.

c. substitution effect must be in the same direction as the income effect.

d. income effect and the substitution effect may work in the same or in opposite directions.

ANS: D PTS: 1 DIF: 2 REF: 21-3

TOP: Demand curve MSC: Interpretive

108. An optimizing consumer will select a consumption bundle in which

a. income is maximized and prices are minimized.

b. utility is maximized and prices are minimized.

c. utility is maximized subject to budget constraints.

d. utility is maximized and indifference curves are linear.

ANS: C PTS: 1 DIF: 2 REF: 21-3

TOP: Consumer choice MSC: Interpretive

109. The consumer's optimum choice is represented by

a. MU x/MU y = P x/P y

b. MU x/P x = MU y/P y

c. MRS xy = P x/P y

d. All of the above are correct.

ANS: D PTS: 1 DIF: 2 REF: 21-3

TOP: Consumer choice MSC: Interpretive

110. An optimizing consumer will select the consumption bundle in which the

a. ratio of total utilities is equal to the relative price.

b. ratio of income to price equals the marginal rate of substitution.

c. marginal rate of substitution is equal to the relative price of the goods.

d. marginal rate of substitution is equal to marginal utility.

ANS: C PTS: 1 DIF: 2 REF: 21-3

TOP: Consumer choice MSC: Interpretive

经济学原理第十章作业及答案)

经济学原理第十章作业题(CZ组) 一、选择题 1、下列选项中不是宏观经济政策应该达到的标准是( C ) A.充分就业 B.物价稳定 C.经济稳定 D.国际收支平衡 2、四种经济目标之间存在的矛盾错误的是(D ) A.充分就业与物价稳定的矛盾 B.充分就业与经济增长的矛盾 C.充分就业与国际收支平衡的矛盾 D.物价稳定与国际收支平衡的矛盾 3、紧缩性货币政策的运用会导致(C) A.减少货币供给量,降低利率; B.增加货币供给量,提高利率; C.减少货币供给量,提高利率; D.增加货币供给量,提高利率。 4、1936年,英国经济学家凯恩斯提出,国家应积极干预经济生活,增加有效需求,以防止新的经济危机的发生。下列选项中与上述主张吻合的是(B ) A.自由放任政策 B.国家加强对经济的干预 C.缓和与工人阶级的矛盾 D.以计划经济取代市场经济 5、降低贴现率的政策(A) A.将增加银行的贷款意愿 B.将制约经济活动 C.与提高法定准备金率的作用相同 D.通常导致债券价格下降 6、属于内在稳定器的项目是( C ) A.政府购买 B.税收 C.政府转移支付 D.政府公共工程支出 7、属于紧缩性财政政策工具的是( B ) A.减少政府支出和减少税收 B.减少政府支出和增加税收 C.增加政府支出和减少税收 D.增加政府支出和增加税收 8、如果存在通货膨胀缺口,应采用的财政政策是( A ) A.增加税收 B.减少税收

C.增加政府支出 D.增加转移支出 9、经济中存在失业时,应采取的财政政策是( A ) A.增加政府支出 B.提高个人所得税 C.提高公司所得税 D.增加货币发行 10、商业银行资金的主要来源是( D ) A.贷款 B.利息 C.债券 D.存款 二、判断题 1.债券价格与债券收益的大小成反比,与利率的高低成反比。( F ) 2.财政政策的主要内容包括政府支出和政府税收。(T ) 3.贴现政策中最主要的是贴现条件。( F ) 4.在经济学中,广义的货币是=通货+商业银行活期存款+定期存款与储蓄存款(T ) 5.经济增长是指达到一个适度的增长率,这种增长率要既能满足社会发展需要, 有事人口增长和技术进步所能达到的。(T ) 6.货币的职能主要有三种,其中计价单位是货币最基本的职能。( F ) 7.在短期内,影响供给的主要因素是生产成本,在长期内,影响供给的主要因素是生产能力。( T ) 8.扩张性财政政策是增加政府支出( F ) 9.商业银行性质和一般的企业一样,包括吸收存款、发放贷款、代客结算。(T ) 10.提高劳动力数量的方法是增加人力资本投资。( F ) 三、简答题 1.扩张性财政政策对萧条经济会产生怎样的影响? 当经济萧条时,扩张性财政政策会使收入水平增加。一方面,扩张性财政本身意味着总需求扩张,另一方面,通过乘数的作用,扩张性财政会导致消费需求增加,因此,总需求进一步扩张。当然,在扩张财政时,由于货币供给不变,利息率会提高。这样,投资需求会有一定程度的下降。在一般情况下,扩张性财政的产出效应大于挤出效应,最终结果是扩张性财政政策导致国民收入增加。 2.按财政政策和货币政策的影响填写下表 政策种类对利率的影响对消费的影响对投资的影响对GDP的影响 财政政策(减少所 上升增加减少增加 得税) 上升增加减少增加 财政政策(增加政 府开支,包括政府 购买和转移支付) 财政政策(投资津上升增加增加增加

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第一章 导论 生产关系也叫经济关系。生产关系是人们在生产过程中结成的社会经济关系,它包括生产、分配、交换、消费过程中的各种经济关系。 研究的出发点 1、 物质资料生产的含义 1、劳动过程--生产力 生产力的内涵、生产力的构成 2、 社会过程 --生产关系 3、 生产力和生产关系构成了社会的生产方式,它是二者的对立统一。 *生产资料所有制是对社会生产中人们在生产资料的所有、占有、支配和使用上所结成的关系的制度规定,生产资料所有制是生产关系的基础。 (四)横向生产关系系统 生产力和生产关系的有机结合和统一,构成社会生产方式。人类征服自然、改造自然的能力,就叫生产力。 1. 生产力的性质决定生产关系的性质。 1.当生产关系适合生产力状况和发展要求时,它推动生产力发展。 1.要求生产关系的具体形式即经济体制,也必须同生产力的性质和水平相适应。 2.要求生产关系的具体形式即经济体制,也必须同生产力的性质和水平相适应 3. 要求在一定的经济体制下选择与之相适应的经济运行机制。 经济规律 :经济规律是经济现象和经济过程内在的、本质的、必然的联系。 经济规律特点:1.经济规律是不会长久不变的。 1.辩证唯物主义和历史唯物主义的方法 2科学的抽象法 3.数学和统计方法 4.逻辑和历史相统一的方法 ?思考题 1、 如何认识马克思主义政治经济学的与时俱进的理论品质? 2 、什么是生产关系?马克思主义政治经济学研究生产关系的目的是什么?

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