01 What Economics Is All About

1.1-Quiz

1、单选题:
‎1. Economics deals primarily with the concept of (         )‎
选项:
A: scarcity.
B: poverty.
C: change.
D: power.
答案: 【 scarcity.

02 The Market Forces of Supply and Demand

Ch2-Quiz

1、单选题:
In a perfectly competitive market,
选项:
A: advertising is widely used to influence demand and price.
B: firms are price takers rather than price makers.
C: firms produce a small number of differentiated products.
D: a small number of firms produce an identical product.
答案: 【 firms are price takers rather than price makers.

2、单选题:
The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as
选项:
A: quantity demanded.
B: demand.
C: supply.
D: quantity supplied.
答案: 【 quantity demanded.

3、单选题:
The demand curve for Beanie Baby dolls shows the quantity of dolls demanded
选项:
A: by suppliers of those dolls.
B: at the equilibrium price for Beanie Baby dolls.
C: a. at each level of income.
D: at each possible price of Beanie Baby dolls.
答案: 【 at each possible price of Beanie Baby dolls.

4、单选题:
Which of the following are the best examples of substitute goods?
选项:
A: Personal computers and computer software programs.
B: Milk and cookies.
C: IBM and HP personal computers.
D: Hot dogs and mustard.
答案: 【 IBM and HP personal computers.

5、单选题:
Which of the following sets of goods are most likely to be complementary goods?
选项:
A: Shoes and pizza.
B: Automobiles and computers.
C: Baseballs and baseball gloves.
D: Football tickets and baseball tickets.
答案: 【 Baseballs and baseball gloves.

6、单选题:
An increase in the number of tomato producers will
选项:
A: increase market supply because the price of tomatoes will rise.
B: increase market supply because market demand will increase as more tomatoes are produced.
C: increase market supply because market supply is the sum of all individual tomato producers’ supply curves.
D: increase market demand but leave market supply unchanged.
答案: 【 increase market supply because market supply is the sum of all individual tomato producers’ supply curves.

7、单选题:
Suppose that the demand for apples increased more than the supply of apples increased. The net effect of these two changes would be a(n)
选项:
A: increase in the equilibrium price and a decrease in the equilibrium quantity.
B: increase in the equilibrium price and an increase in the equilibrium quantity.
C: decrease in the equilibrium price and an increase in the equilibrium quantity.
D: decrease in the equilibrium price and a decrease in the equilibrium quantity.
答案: 【 increase in the equilibrium price and an increase in the equilibrium quantity.

8、单选题:
Given this data, the equilibrium price and quantity of CD players are
QUANTITY QUANTITY
PRICE DEMANDED SUPPLIED
(units per week) (units per week)
$100 1,000 100
$150 900 300
$200 800 500
$250 600 600
$300 300 650
选项:
A: $150 and 300 players.
B: $200 and 800 players.
C: $250 and 600 players.
D: $300 and 650 players.
答案: 【 $250 and 600 players.

9、单选题:
Given this data, if the price of CD players is $200,
选项:
A: there will be a surplus.
B: there will be a shortage.
C: the market is in equilibrium.
D: the supply will increase.
答案: 【 there will be a shortage.

10、单选题:
Temporary shortages in a market are eliminated by
选项:
A: decreases in the price, which cause quantity supplied to fall and quantity demanded to rise.
B: decreases in the price, which cause quantity supplied to rise and quantity demanded to fall.
C: increases in the price, which cause quantity supplied to fall and quantity demanded to rise.
D: increases in the price, which cause quantity supplied to rise and quantity demanded to fall.
答案: 【 increases in the price, which cause quantity supplied to rise and quantity demanded to fall.

11、单选题:
When a market is in equilibrium,
选项:
A: quantity demanded will equal quantity supplied.
B: a shortage will be present.
C: a surplus will be present.
D: sellers will continue to expand production to increase revenues.
答案: 【 quantity demanded will equal quantity supplied.

12、单选题:
If a drought destroyed half of the U.S. garlic crop at a time when the health benefits of garlic were being well-publicized, economists would expect that in the market for garlic
选项:
A: quantity exchanged would rise but the change in price is uncertain without further information.
B: price would rise but the change in quantity exchanged is uncertain without further information
C: both price and quantity exchanged would rise.
D: price would rise and quantity exchanged would fall.
答案: 【 price would rise but the change in quantity exchanged is uncertain without further information

13、单选题:
The discovery of new gold in South America will _______ the price of gold and _______ the quantity of gold traded.
选项:
A: raise; raise
B: lower; raise
C: raise; lower
D: lower; lower
答案: 【 lower; raise

14、单选题:
Higher steel price would _______ the prices of autos and _______ the quantity exchanged.
选项:
A: lower; lower
B: lower; raise
C: raise; lower
D: raise; raise
答案: 【 raise; lower

15、单选题:
If Francis receives a decrease in his pay, we would expect
选项:
A: Francis’s demand for each good he purchases to remain unchanged.
B: Francis’s demand for normal goods to increase.
C: Francis’s demand for luxury goods to increase.
D: Francis’s demand for inferior goods to increase.
答案: 【 Francis’s demand for inferior goods to increase.

16、单选题:
Suppose that a decrease in the price of X results in less of good Y sold. This would mean that X and Y are
选项:
A: complementary goods.
B: normal goods.
C: inferior goods.
D: substitute goods.
答案: 【 substitute goods.

17、单选题:
The movement from point A to point B on the graph would be caused by
选项:
A: an increase in price.
B: a decrease in price.
C: a decrease in the price of a substitute good.
D: an increase in income.
答案: 【 a decrease in price.

18、单选题:
The movement from point A to point B on the graph shows
选项:
A: a decrease in demand.
B: an increase in demand.
C: a decrease in quantity demanded.
D: an increase in quantity demanded.
答案: 【 an increase in quantity demanded.

19、单选题:
Which graph could be used to show the result of 5 percent of the country’s smokers deciding to stop smoking?
选项:
A: A
B: B
C: C
D: Each graph could be used to show the result.
答案: 【 C

20、单选题:
In a market, to find the total amount supplied at a particular price,
选项:
A: we must add up all of the amounts firms are willing and able to supply at that price.
B: we need to know the demand for the good as well.
C: the tastes and preferences of buyers must be established.
D: the income level of buyers would need to be determined.
答案: 【 we must add up all of the amounts firms are willing and able to supply at that price.

21、单选题:
The movement from point A to point B on the graph would be caused by
选项:
A: a decrease in the price of the good.
B: an increase in the price of the good.
C: an increase in technology.
D: a decrease in input prices.
答案: 【 an increase in the price of the good.

22、单选题:
The movement from point A to point B on the graph is called
选项:
A: a decrease in supply.
B: an increase in supply.
C: an increase in the quantity supplied.
D: a decrease in the quantity supplied.
答案: 【 an increase in the quantity supplied.

23、单选题:
When evaluating differences or similarities between an increase in supply and an increase in quantity supplied we know that
选项:
A: the former is a shift of the curve and the latter is a movement along the curve.
B: the former is a movement along the curve and the latter is a shift of the curve.
C: both are shifts of the supply curve.
D: both are movements along the curve.
答案: 【

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