微观经济学---入门压轴题全英文john Sloman and Alison Wride --1.doc

1. Which of the following are macroeconomic topics/issues and which are microeconomic ones? (a) The level of consumer spending Macro (b) Subsidies paid to farmers Micro (c) The level of UK exports Macro (d) The price of DVDs Micro (e) The rate of unemployment Macro (f) The average wage rate paid to textile workers Micro (g) The total amount spent by UK consumers on clothing and footwear Micro (h) The amount saved last year by UK households Macro 2. Economists assume that economic decisions are made rationally. In the case of consumers, rational decision making means: (a) That consumers will not buy goods which increase their satisfaction by only a small amount. False (b) That consumers will attempt to maximise their individual satisfaction for the income they earn. True (c) That consumers buy the sorts of goods that the average person buys. False (d) That consumers seek to get the best value for money from the goods they buy. True 3. Make a list of three things you did yesterday. What was the opportunity cost of each? Have a look at your neighbours’ lists and see if you agree with their estimates of the opportunity costs. In each case you should think of the next best thing you could have done with your time or money, because it is that which you effectively ‘gave up’ to do the thing you chose to do. So, by choosing to go to the cinema, for example, the opportunity cost is what you could have done with the money you spent on the ticket and transport, and with the time spent at the cinema.  4. A country is capable of producing the following combinations of goods and services per period of time, assuming that it makes full use of its resources of land, labour and capital. Goods (units) 100 80 60 40 20 0 Services (units) 0 50 90 120 140 150 (a) Draw the production possibility curve for this country on the following diagram. The curve shows all the possible combinations of two goods that a country can produce within a given time period