MankiwEssentialsofEconomicsTestBankPoints1.MultipleChoice1)Economicsdealsprimarilywiththeconceptof()a)scarcity.b)poverty.c)change.d)power.2)WhichofthefollowingisNOTincludedinthedecisionsthateverysocietymustmake?()a)whatgoodswillbeproducedb)whowillproducegoodsc)whatdeterminesconsumerpreferences消费者的偏好d)whowillconsumethegoods3)Arationaldecisionmakertakesanactiononlyifthe()a)marginalbenefitislessthanthemarginalcost.b)marginalbenefitisgreaterthanthemarginalcost.c)averagebenefitisgreaterthantheaveragecost.d)marginalbenefitisgreaterthanboththeaveragecostandthemarginalcost.4)Macroeconomicsisthestudyof（）a)individualdecisionmakers.b)economichistory.c)economy-widephenomena.d)howfirmsmaximizeprofit5)AmicroeconomistmightstudyeachofthefollowingEXCEPT()a)theeffectsofrentcontrolonhousinginNewYorkCity.b)howacollegestudentmakesfinancialdecisions.c)howtariffsonshoesaffectstheshoeindustry.d)theeffectontheeconomywhenunemploymentrateschange.6)Thetermmarketfailurerefersto()a)asituationinwhichthemarketonitsownfailstoallocateresourcesefficiently.b)anunsuccessfuladvertisingcampaignwhichreducesbuyerdemand.c)asituationinwhichcompetitionamongfirmsbecomesruthless.d)afirmwhichisforcedoutofbusinessbecauseoflosses.7)Whichofthefollowingisanexampleofanormative规范（主观）statement?()a)Ifthepriceofaproductdecreases,quantitydemandedincreases.b)Reducingtaxratesonthewealthywouldbegoodforthecountry.c)Ifthenationalsavingrateweretoincrease,sowouldtherateofeconomicgrowth.d)Alloftheabovearecorrect.8)Foreachgoodproducedinamarketeconomy,demandandsupplydetermine()a)thepriceofthegood,butnotthequantity.b)thequantityofthegood,butnottheprice.c)bothpriceandquantity.d)neitherpricenorquantityisdeterminedbydemandandsupply,becausepricesareultimatelysetbyproducers.9)Ahigherpriceforbatteries电池wouldtendto（）a)increasethedemandforflashlights.b)increasethedemandforelectricity.c)decreasethedemandforelectricity.d)increasethedemandforbatteries10)Twogoodsarecomplementsifadecreaseinthepriceofonegood()a)increasesthequantitydemandedoftheothergood.b)reducesthedemandfortheothergood.c)reducesthequantitydemandedoftheothergood.d)raisesthedemandfortheothergood.11)Ifashortageexistsinamarketweknowthattheactualpriceis()a)belowequilibriumpriceandquantitydemandedisgreaterthanquantitysupplied.b)aboveequilibriumpriceandquantitydemandedisgreaterthanquantitysupplied.c)aboveequilibriumpriceandquantitysuppliedisgreaterthanquantitydemanded.d)belowequilibriumpriceandquantitysuppliedisgreaterthanquantitydemanded.12)Whenthegovernmentpreventspricesfromadjustingnaturallytosupplyanddemand()a)itstabilizestheeconomybyreducingmarketuncertainties.b)itadverselyaffectstheallocationofresources.影响了资源的分配c)theimprovementinequityjustifiesthereductioninefficiency.d)theimprovementinefficiencyjustifiesthereductioninequity.13)Knowingthatthedemandforwheatisinelastic,ifallfarmvoluntarilyplowedunder10percentoftheirwheatcrop,then()a)consumersofwheatwouldbuymorewheat.b)wheatfarmerswouldsufferareductionintheirrevenue.c)wheatfarmerswouldincreasetheirrevenue.d)thedemandforwheatwoulddecrease.14)Supposethatasteelfactoryemitsacertainamountofairpollution,whichconstitutesanegativeexternality.Thesocialcostofproducingthesteelincludesthe()a)privatecostsofthesteelproducersandthepriceconsumerspayforthesteel.b)privatecostsofthesteelproducersandthecoststothebystandersaffected...
