微观谜底(国外英文资料).docVIP

微观答案(国外英文资料) Short-answer questions: What is inflation, and what causes inflation? A: inflation is a currency devalued by the increase in the amount of money in circulation, resulting in a rise in the overall price level in economic life. The increase in money has caused inflation. Consumers have not benefited from low-priced imports, wrote senator ernst. Look at some mail-order catalogues and you will find that consumers pay the same price for clothes made in the United States or imported. Comment on this paragraph. Answer: this paragraph is incorrect. When free trade is carried out, domestic market prices will equal the world price. World prices are low, and domestic market prices will fall until they are equal to the world price, and vice versa. For the United States, imports of low-priced items will force domestic producers to lower their prices. On the face of it, consumers pay the same price for the goods, whether American or imported. In fact, consumers pay less than the domestic price of the item when there is no trade. How do you calculate the price elasticity of supply? What is the explanation for the price elasticity of supply? Answer: supply price elasticity is equal to the percentage change in supply quantity divided by the percentage change in price. It is the measure of how much quantity supplied to its price. Give an example of a government-created monopoly. Is this monopoly necessarily a bad policy? Explain why. A: in China, railway transport is a monopoly created by the government, and the railways are exclusively managed and operated by the ministry of railways. Creating this monopoly is now a bad policy. But in the early days after foundation in our country, the railway as the artery of national economy, conducted by the national monopoly, to adapt to the need of economic development in our country, is also in line with the prevailing market requirements. Government monopoly is not necessarily a bad policy. It depends on whether this policy meet