经济学考试题型及答案.docx

名词解释题Opportunity cost：whatever must be given up to obtain some item.Marginal change：a small incremental adjustment to a plan of actionInflation：an increase in the overall level of prices in the economyExternality：the impact of one person’s actions on the well-being of a bystanderProduction possibility frontier：a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.Microeconomics：the study of how households and firms make decisions and how they interact in markets.Macroeconomics：the study of economy –wide phenomena, including inflation, unemployment, and economic growthPositive statements: claims that attempt to describe the world as it isAbsolute advantage：the ability to produce a good using fewer inputs than another producerComparative advantage：the ability to produce a good at a lower opportunity cost than another producer.Demand curve: a graph of the relationship between the price of a good and the quantity demandedNormal good：a good for which, other things being equal, an increase in income leads to an increase in demandInferior good：a good for which, other things being equal, an increase in income leads to an decrease in demandSupply curve：a graph of the relationship between the price of a good and the quantity suppliedSurplus：a situation in which quantity supplied is greater than quantity demandedElasticity：a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants Price elasticity of demand：a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in priceTotal revenue：the amount paid by buyers and received by sellers of a good, computed as the price of the good items the quantity soldPrice elasticity of supply：a measure of how much the quantity supplied of a good re