Unit 1 Introduction

Unit 1 Test

1、单选题:
Which of the following statements is a normative statement?
选项:
A: The government ought to take some measures to reduce the unemployment rate.
B: The unemployment rate is up 1 percentage point from a year ago.
C: The unemployment rate is currently at 6.5 percent.
D: Based on empirical data, the higher the rate of inflation, the lower the unemployment rate.
答案: 【 The government ought to take some measures to reduce the unemployment rate.

2、单选题:
Which of the following statements is not a positive statement?
选项:
A: Increasing pollution taxes can reduce pollution emissions.
B: Based on empirical data, environmental pollution first rises and then falls with per capita income, presenting an inverted U-shaped curve.
C: Taxing air pollution will increase the cost of making steel.
D: Air pollution is harmful, therefore, the government should increase the tax in order to reduce pollution.
答案: 【 Air pollution is harmful, therefore, the government should increase the tax in order to reduce pollution.

3、单选题:

‌What is ?

‌选项:
A:

B:

C:

D:

答案: 【 

4、单选题:

​What is ?

‏选项:
A:

B:

C:

D:

答案: 【 

5、单选题:

‏What is ?

‎选项:
A:

B:

C:

D:

答案: 【 

6、判断题:
​Economics is the study of how scarce resources are allocated efficiently among different uses.‌
选项:
A: 正确
B: 错误
答案: 【 正确

7、判断题:
Economics is divided into two important sections, which are: Macroeconomics & Microeconomics.
选项:
A: 正确
B: 错误
答案: 【 正确

8、判断题:
Microeconomics studies the economy from the perspective of individual agents, such as consumers, firms, governments, etc.
选项:
A: 正确
B: 错误
答案: 【 正确

9、判断题:
Microeconomics studies the overall economy, such as gross domestic product, economic growth, interest rates, unemployment, inflation, etc.
选项:
A: 正确
B: 错误
答案: 【 错误

10、判断题:
Microeconomics deals with the behaviour of the aggregate economy and Macroeconomics focuses on individual consumers and businesses.
选项:
A: 正确
B: 错误
答案: 【 错误

11、判断题:
Exogenous variable is generated within a model and whose value is changed by the other variables in that model.
选项:
A: 正确
B: 错误
答案: 【 错误

12、判断题:
If an allocation is Pareto efficient, to make any one get better off we must make another one worse off.
选项:
A: 正确
B: 错误
答案: 【 正确

13、判断题:
Given an initial allocation, if you find a change in allocation could help at least one person and harms no one, the change is called Pareto improvement.
选项:
A: 正确
B: 错误
答案: 【 正确

14、判断题:
An allocation is Pareto efficient if it allows Pareto improvement.
选项:
A: 正确
B: 错误
答案: 【 错误

15、判断题:
The first order condition is a necessary condition for a maximum, but it is not a sufficient condition
选项:
A: 正确
B: 错误
答案: 【 正确

Unit 2 Preference and Utility

Unit 2 Test

1、单选题:

If utility is given by  , then the person’s MRSxy at the point x = 5, y = 2 is given by     . (hint: calculate MRSxy =MUx/MUy first, then substitute the value of x and y)

‎选项:
A: 1
B: 1.5
C: 5
D: 0.4
答案: 【 0.4

2、单选题:
‍If utility is given by  U(x,y)=x+y, then the person’s MRSxy at the point x = 5, y = 2 is given by     . ‏
选项:
A: 1
B: 1.5
C: 5
D: 0.4
答案: 【 1

3、单选题:
‏If utility is given by  U(x,y)=min{x,y}, then the person’s MRSxy at the point x = 5, y = 2 is given by     . ​
选项:
A: 1
B: 1.5
C: 5
D: 0
答案: 【 0

4、单选题:
‎If utility is given by  U(x,y)=2xy, then the person’s MRSxy at the point x = 5, y = 1 is given by     . (hint: calculate MRSxy =MUx/MUy first, then substitute the value of x and y)‎
选项:
A: 1
B: 1.5
C: 5
D: 0.2
答案: 【 0.2

5、单选题:
‏Which of the following utility functions would not be consistent with the notion that x and y are both “goods” with positive marginal utilities (ie. more is better)?‏
选项:
A:
B: U(x,y)=x+y
C:
D: U(x,y)=x/y
答案: 【 U(x,y)=x/y

6、单选题:
‍Which of the following utility functions would be consistent with the notion that preference is strictly convex (Hint: MRSxy is diminishing as x increases)?‏
选项:
A:
B: U(x,y)=x+y
C: U(x,y)=2x+y
D: U(x,y)=min{x,y}
答案: 【 

7、单选题:
​Which of the following is not an axiom of consumer preference?‌
选项:
A: Reflexivity
B: Completeness
C: Convexity
D: Transitivity
答案: 【 Convexity

8、单选题:

‏Given a utility function

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