经济学原理期中测试题.pdf

Grundzüge der Volkswirtschaftslehre, Midterm 29.11.04 VERSION 1 mit Antworten PAGE 1 1. A countrys consumption possibilities frontier can be outside its production possibilities frontier a. with trade. b. by producing a greater variety of goods and services. c. by lowering unemployment in the country. d. by allocating resources differently. 2. Suppose consumer income increases. If swimsuits are normal goods, the equilibrium price of swimsuits will __________, and producer surplus in the swimsuit industry will __________. a. decrease, decrease b. decrease, increase c. increase, decrease d. increase, increase 3. A legal minimum price at which a good can be sold is a a. price ceiling. b. price cut. c. price floor. d. price stabilization. These figures illustrate the production possibilities available to Tom and Nicole with 40 hours of labor. 4. Refer to the graphs given. If Tom and Nicole both specialize in the good in which they have a comparative advantage, total production of books will be __________ and total production of videos will be __________. a. 40, 4 b. 42, 9 c. 9, 42 d. 4, 40 Grundzüge der Volkswirtschaftslehre, Midterm 29.11.04 VERSION 1 PAGE 2 5. In the graph shown, the section of the demand curve labeled C represents a. the elastic section of the demand curve. b. the inelastic section of the demand curve. c. the unit elastic section of the demand curve. d. the perfectly elastic section of the demand curve. 6. The demand for a good tends to be more elastic a. the longer the period of time. b. the greater the availability of close substitutes. c. the narrower the definition of the mark