宏观经济学chap03习题.docVIP

Macroeconomics, 8e (Parkin) Testbank 1 Chapter 3 Demand and Supply 3.1 Markets and Prices 1) A relative price is the A) slope of the demand curve. B) difference between one money price and another. C) slope of the supply curve. D) ratio of one money price to another. Answer: D Topic: Price and Opportunity Cost Skill: Conceptual 2) If the price of a candy bar is $1 and the price of a fast food meal is $5, then the A) relative price of a candy bar is 5 fast food meals. B) money price of a candy bar is 1/5 of a fast food meal. C) relative price of a fast food meal is 5 candy bars. D) money price of a fast food meal is 1/5 of a candy bar. Answer: C Topic: Price and Opportunity Cost Skill: Conceptual 3) If the price of a hot dog is $2 and the price of a hamburger is $4, then the A) relative price of a hot dog is 1/2 of a hamburger. B) money price of a hot dog is 2 hamburgers. C) relative price of a hamburger is 1/2 of a hot dog. D) money price of a hamburger is 2 hot dogs. Answer: A Topic: Price and Opportunity Cost Skill: Conceptual 4) The opportunity cost of good A in terms of good B is equal to the A) money price of good A minus the money price of good B. B) money price of good B minus the money price of good A. C) ratio of the money price of good A to the money price of good B. D) ratio of the money price of good B to the money price of good A. Answer: C Topic: Price and Opportunity Cost Skill: Analytical 5) The opportunity cost of a hot dog in terms of hamburgers is the A) ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers. B) ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers. C) money price of a hot dog minus the money price of a hamburger. D) ratio of the money price of a hot dog to the money price of a hamburger. Answer: D Top