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Chapter 2 Thinking Like an EconomistMULTIPLE CHOICEFigure 2-1AB 211. Refer to Figure 2-1.Which shape refers to the markets for goods and services? aa. oval Ab. oval Bc. rectangle 1d. rectangle 22. Refer to Figure 2-1.What is flowing from rectangle 1 to oval A? ba. revenueb. goods and services soldc. factors of productiond. labor, land, and capital3. Refer to Figure 2-1.Which of the following is an activity undertaken by the actors in rectangle 2? ca. produce and sell goods and servicesb. hire and use factors of productionc. own and sell factors of productiond. exchange goods and services between firms and householdsFigure 2-212345678910Consider the production possibilities curve for a country that can produce cars, corn (in bushels), or a combination of the two. 4. Refer to Figure 2-2. If this economy devotes all of its available resources to producing corn, then itwill produce da. 0 bushels of corn and 10 cars.b. 135 bushels of corn and 3 carsc. 160 bushels of corn and 10 cars.d. 160 bushels of corn and 0 cars.5. Refer to Figure 2-2. Which combination of points show production possibilities only achievablewith improvements in technology or increases in resources? da. A, D, and Eb. B and Gc. C and Fd. None of the above is correct.6. Refer to Figure 2-2. If this society moves from point D to point E, da. it gives up 25 bushels of corn to get 3 cars.b. it gives up 135 bushels of corn to get 3 cars.c. it gives up 3 cars to get 135 bushels of corn.d. it gives up 3 cars to get 25 bushels of corn.7. Refer to Figure 2-2. If this society is producing at point C, da. there is unemployment.b. production is efficient.c. growth can only be achieved through an advancement in technology.d. the opportunity cost of producing one more car is approximately 10 bushels of corn.8. Which of the following is a positive, as opposed to a normative, statement? ba. The US Department of Justice should allow a merger between AT&T and T-Mobilebecause it would have little effect on consumers.b. Antitrust laws should be used to prevent further concentration in the wireless telephoneservice market.c. The US Department of Justice sued AT&T to block its merger with T-Mobile.d. The wireless telephone service market is too highly concentrated.9. Which of the following famous people did not major in economics in college? ba. Donald Trumpb. Natalie Portmanc. John Elwayd. Mick Jagger10. Which of the following statements is correct about environmental economists? da. They view economics as a framework for natural resource allocation.b. They work at government agencies as well as universities and advocacy groups.c. They use economic arguments and systems to persuade companies to clean up pollutionand conserve natural resources.d. All of the above are correct.11. In the ordered pair (20, 100), 20 is the aa. x-coordinate.b. y-coordinate.c. scatterplot.d. slope.12. Between the two ordered pairs (20, 100) and (30, 80), the slope is ba. 1/2.b. -1/2.c. 2.d. -2.Figure 2-4snowblowers solds n o w s t o r ms 1020304050607080901234567891013. Refer to Figure 2-4. According to the graph, snowstorms aa. and snowblowers sold are positively correlated.b. and snowblowers sold are negatively correlatedc. and snowblowers sold are uncorrelated.d. are caused by more snowblowers being sold.14. Refer to Figure 2-4.Your friend John created the graph above to illustrate that snowstorms arecaused by more snowblowers being sold. You inform him that his interpretation is incorrect due to aa. omitted variable bias.b. reverse causality.c. slope mismatch.d. shifting versus moving along a curve.15. Refer to Figure 2-4.Which of the following could be an omitted variable in the graph? da. the price of snowblowersb. a change in consumers’ incomesc. a change in the seasonsd. All of the above are correct.PROBLEMFigure 2-1AB 211. Refer to Figure 2-1. What is the name of the model depicted in the figure?The Circular Flow2. Refer to Figure 2-1. What do the ovals represent in the figure?A: Markets for goods and service B: Markets for factors of production 3. Refer to Figure 2-1. What do the rectangles represent in the figure?1:Firms 2:Households4. Refer to Figure 2-1. What do the outer arrows represent in the figure?A to 1:revenue 1 toB :wages,rent, and profit B to 2 income 2 to A :spending 5.Refer to Figure 2-1. What do the inner arrows represent in the figure? A to 2:goods and services bought 2 to B:Labor,land,and capital B to1:Factors of production 1 to A: goods and services sold6. Refer to Figure 2-1. What does the arrow going from oval A to rectangle 2 represent in the figure? A to 2:goods and services bough7. Refer to Figure 2-1. What does the arrow going from oval B to rectangle 2 represent in the figure? B to 2 income 8.Refer to Figure 2-1. What are two elements not included in this figure that could be included in a more complex model? 9. The three main factors of production, or categories of inputs, used by firms to produce goods andservices areFigure 2-212345678910Consider the production possibilities curve for a country that can produce cars, corn (in bushels), or a combination of the two. 10.Refer to Figure 2-2. The bowed outward shape of the production possibilities curve indicates that opportunity cost of corn in terms of cars is 11.Refer to Figure 2-2. Which point(s) on the graph is(are) efficient production possibilities? 12.Refer to Figure 2-2. Which point(s) on the graph show unemployment of resources? 13. Refer to Figure 2-2. Which point(s) on the graph is(are) unattainable given current resources andtechnology?14.Who would be more likely to study the effects of government spending on the unemployment rate, a macroeconomist or a microeconomist? 15.Who would be more likely to study the effects of foreign competition on the accounting industry, a macroeconomist or a microeconomist? 16.Who would be more likely to study the effects of rent control on housing in New York City, a macroeconomist or a microeconomist? 17.Who would be more likely to study the inflation rate in the United States, a macroeconomist or a microeconomist? 18.Is the following a positive or normative statement? The federal minimum wage is lower than many state minimum wages. 19.Is the following a positive or normative statement? The Federal Reserve should set an inflation target and employ policies to meet the target. 20.Is the following a positive or normative statement? The United States government should mandate that every citizen purchases health insurance. 21. Is the following a positive or normative statement? The unemployment rate in Nevada is higher thanthe unemployment rate in New York.10203040506070801234567891022. Refer to Figure 2-3. What are the coordinates of point C?23. Refer to Figure 2-3. How are price and quantity related in this graph?24. Refer to Figure 2-3.What is the slope of the line?25. Refer to Figure 2-3.Is a move from point A to point B considered a shift of the curve or amovement along the curve?。
曼昆经济学原理英文书The Economics Principles by MankiwChapter 1: Ten Principles of EconomicsChapter 2: Thinking Like an EconomistChapter 3: Interdependence and the Gains from Trade Chapter 4: The Market Forces of Supply and Demand Chapter 5: Elasticity and Its ApplicationChapter 6: Supply, Demand, and Government Policies Chapter 7: Consumers, Producers, and Efficiency of Markets Chapter 8: Application: The Costs of TaxationChapter 9: Application: International TradeChapter 10: ExternalitiesChapter 11: Public Goods and Common Resources Chapter 12: The Design of the Tax SystemChapter 13: The Costs of ProductionChapter 14: Firms in Competitive MarketsChapter 15: MonopolyChapter 16: Monopolistic CompetitionChapter 17: OligopolyChapter 18: The Markets for Factors of Production Chapter 19: Earnings and DiscriminationChapter 20: Income Inequality and PovertyChapter 21: Introduction to MacroeconomicsChapter 22: Measuring a Nation's IncomeChapter 23: Measuring the Cost of LivingChapter 24: Production and GrowthChapter 25: Saving, Investment, and the Financial System Chapter 26: The Basic Tools of FinanceChapter 27: UnemploymentChapter 28: The Monetary SystemChapter 29: Money Growth and InflationChapter 30: Open-Economy Macroeconomics: Basic Concepts Chapter 31: A Macroeconomic Theory of the Open Economy Chapter 32: Aggregate Demand and Aggregate SupplyChapter 33: The Influence of Monetary and Fiscal Policy on Aggregate DemandChapter 34: The Short-Run Trade-Off between Inflation and UnemploymentChapter 35: The Theory of Consumer ChoiceChapter 36: Frontiers of MicroeconomicsChapter 37: Monopoly and Antitrust PolicyChapter 38: Oligopoly and Game TheoryChapter 39: Externalities, Public Goods, and Environmental Policy Chapter 40: Uncertainty and InformationChapter 41: Aggregate Demand and Aggregate Supply Analysis Chapter 42: Understanding Business CyclesChapter 43: Fiscal PolicyChapter 44: Money, Banking, and Central BankingChapter 45: Monetary PolicyChapter 46: Inflation, Disinflation, and DeflationChapter 47: Exchange Rates and the International Financial SystemChapter 48: The Short - Run Trade - Off between Inflation and Unemployment RevisitedChapter 49: Macroeconomic Policy: Challenges in the Twenty - First CenturyEpilogue: 14 Big IdeasNote: The chapter titles have been abbreviated for simplicity and brevity purposes.。
Chapter 2 Thinking Like an EconomistMULTIPLE CHOICEFigure 2-1AB 211. Refer to Figure 2-1.Which shape refers to the markets for goods and services? aa. oval Ab. oval Bc. rectangle 1d. rectangle 22. Refer to Figure 2-1.What is flowing from rectangle 1 to oval A? ba. revenueb. goods and services soldc. factors of productiond. labor, land, and capital3. Refer to Figure 2-1.Which of the following is an activity undertaken by the actors in rectangle 2? ca. produce and sell goods and servicesb. hire and use factors of productionc. own and sell factors of productiond. exchange goods and services between firms and householdsFigure 2-212345678910Consider the production possibilities curve for a country that can produce cars, corn (in bushels), or a combination of the two. 4. Refer to Figure 2-2. If this economy devotes all of its available resources to producing corn, then itwill produce da. 0 bushels of corn and 10 cars.b. 135 bushels of corn and 3 carsc. 160 bushels of corn and 10 cars.d. 160 bushels of corn and 0 cars.5. Refer to Figure 2-2. Which combination of points show production possibilities only achievablewith improvements in technology or increases in resources? da. A, D, and Eb. B and Gc. C and Fd. None of the above is correct.6. Refer to Figure 2-2. If this society moves from point D to point E, da. it gives up 25 bushels of corn to get 3 cars.b. it gives up 135 bushels of corn to get 3 cars.c. it gives up 3 cars to get 135 bushels of corn.d. it gives up 3 cars to get 25 bushels of corn.7. Refer to Figure 2-2. If this society is producing at point C, da. there is unemployment.b. production is efficient.c. growth can only be achieved through an advancement in technology.d. the opportunity cost of producing one more car is approximately 10 bushels of corn.8. Which of the following is a positive, as opposed to a normative, statement? ba. The US Department of Justice should allow a merger between AT&T and T-Mobilebecause it would have little effect on consumers.b. Antitrust laws should be used to prevent further concentration in the wireless telephoneservice market.c. The US Department of Justice sued AT&T to block its merger with T-Mobile.d. The wireless telephone service market is too highly concentrated.9. Which of the following famous people did not major in economics in college? ba. Donald Trumpb. Natalie Portmanc. John Elwayd. Mick Jagger10. Which of the following statements is correct about environmental economists? da. They view economics as a framework for natural resource allocation.b. They work at government agencies as well as universities and advocacy groups.c. They use economic arguments and systems to persuade companies to clean up pollutionand conserve natural resources.d. All of the above are correct.11. In the ordered pair (20, 100), 20 is the aa. x-coordinate.b. y-coordinate.c. scatterplot.d. slope.12. Between the two ordered pairs (20, 100) and (30, 80), the slope is ba. 1/2.b. -1/2.c. 2.d. -2.Figure 2-4snowblowers solds n o w s t o r ms 1020304050607080901234567891013. Refer to Figure 2-4. According to the graph, snowstorms aa. and snowblowers sold are positively correlated.b. and snowblowers sold are negatively correlatedc. and snowblowers sold are uncorrelated.d. are caused by more snowblowers being sold.14. Refer to Figure 2-4.Your friend John created the graph above to illustrate that snowstorms arecaused by more snowblowers being sold. You inform him that his interpretation is incorrect due to aa. omitted variable bias.b. reverse causality.c. slope mismatch.d. shifting versus moving along a curve.15. Refer to Figure 2-4.Which of the following could be an omitted variable in the graph? da. the price of snowblowersb. a change in consumers’ incomesc. a change in the seasonsd. All of the above are correct.PROBLEMFigure 2-1AB 211. Refer to Figure 2-1. What is the name of the model depicted in the figure?The Circular Flow2. Refer to Figure 2-1. What do the ovals represent in the figure?A: Markets for goods and service B: Markets for factors of production 3. Refer to Figure 2-1. What do the rectangles represent in the figure?1:Firms 2:Households4. Refer to Figure 2-1. What do the outer arrows represent in the figure?A to 1:revenue 1 toB :wages,rent, and profit B to 2 income 2 to A :spending 5.Refer to Figure 2-1. What do the inner arrows represent in the figure? A to 2:goods and services bought 2 to B:Labor,land,and capital B to1:Factors of production 1 to A: goods and services sold6. Refer to Figure 2-1. What does the arrow going from oval A to rectangle 2 represent in the figure? A to 2:goods and services bough7. Refer to Figure 2-1. What does the arrow going from oval B to rectangle 2 represent in the figure? B to 2 income 8.Refer to Figure 2-1. What are two elements not included in this figure that could be included in a more complex model? 9. The three main factors of production, or categories of inputs, used by firms to produce goods andservices areFigure 2-212345678910Consider the production possibilities curve for a country that can produce cars, corn (in bushels), or a combination of the two. 10.Refer to Figure 2-2. The bowed outward shape of the production possibilities curve indicates that opportunity cost of corn in terms of cars is 11.Refer to Figure 2-2. Which point(s) on the graph is(are) efficient production possibilities? 12.Refer to Figure 2-2. Which point(s) on the graph show unemployment of resources? 13. Refer to Figure 2-2. Which point(s) on the graph is(are) unattainable given current resources andtechnology?14.Who would be more likely to study the effects of government spending on the unemployment rate, a macroeconomist or a microeconomist? 15.Who would be more likely to study the effects of foreign competition on the accounting industry, a macroeconomist or a microeconomist? 16.Who would be more likely to study the effects of rent control on housing in New York City, a macroeconomist or a microeconomist? 17.Who would be more likely to study the inflation rate in the United States, a macroeconomist or a microeconomist? 18.Is the following a positive or normative statement? The federal minimum wage is lower than many state minimum wages. 19.Is the following a positive or normative statement? The Federal Reserve should set an inflation target and employ policies to meet the target. 20.Is the following a positive or normative statement? The United States government should mandate that every citizen purchases health insurance. 21. Is the following a positive or normative statement? The unemployment rate in Nevada is higher thanthe unemployment rate in New York.10203040506070801234567891022. Refer to Figure 2-3. What are the coordinates of point C?23. Refer to Figure 2-3. How are price and quantity related in this graph?24. Refer to Figure 2-3.What is the slope of the line?25. Refer to Figure 2-3.Is a move from point A to point B considered a shift of the curve or amovement along the curve?。
