微观经济学chapter26习题答案.docx
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1、微观经济学chapter26习题答案Chapter 2 Thinking Like an Economists TRUE OR FALSE 1. Economists devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories. (T) 2. While the scientific method is applicable to studying natural sciences, it is not applicable to stud
2、ying a nations economy. (F) 3. It is difficult for economists to make observations and develop theories, but it is easy for economists to run experiments to generate data to test their theories. (F) 4. Good assumptions simplify a problem without substantially affecting the answer. (T) 5. Assumptions
3、 can simplify the complex world and make it easier to understand. (T) 6. Economic models omit many details to allow us to see what is truly important. (T) 7. The circular-flow diagram explains, in general terms, how the economy is organized and how participants in the economy interact with one anoth
4、er. (T) 8. In the circular-flow diagram, households and firms are the decision makers. (T) 9. In the circular-flow diagram, factors of production are the goods and services produced by firms. (F) 10. In the circular-flow diagram, firms own the factors of production and use them to produce goods and
5、services. (F) 11. In the circular-flow diagram, one loop represents the flow of goods and services, and the other loop represents the flow of factors of production. (F) 12. The production possibilities frontier is a graph that shows the various combinations of outputs that the economy can possibly p
6、roduce given the available factors of production and the available production technology. (T) 13. Refer to Figure 2-1, if this economy uses all its resources in the dishwasher industry, it produces 35 dishwashers and no doghouses. (T) Figure 2-1 14. Refer to Figure 2-1, it is possible for this econo
7、my to produce 75 doghouses. (F) 15. Refer to Figure 2-1, it is possible for this economy to produce 30 doghouses and 20 dishwashers. (T) 16. Refer to Figure 2-1, it is possible for this economy to produce 45 doghouses and 30 dishwashers. (F) 17. Refer to Figure 2-1, unemployment could cause this eco
8、nomy to produce at point B. (T) 18. Refer to Figure 2-1, the opportunity cost of moving from point A to point D is 10 dishwashers. (T) 19. Refer to Figure 2-1, the opportunity cost of moving from point B to point D is 15 doghouses. (F) 20. Refer to Figure 2-1, the opportunity cost of an additional d
9、oghouse increases as more doghouses are produced. (T) 21. If an economy can produce more of one good without giving up any of another good, then the economys current production point is inefficient. (T) 22. When a production possibilities frontier is bowed outward, the opportunity cost of the first
10、good in terms of the second good increases as more of the second good is produced. (F) 23. A production possibilities frontier will be bowed outward if some of the economys resources are better suited to producing one good than another. (T) 24. While the production possibilities frontier is a useful
11、 model, it cannot be used to illustrate economic growth. (F) 25. Microeconomics is the study of how households and firms make decisions and how they interact in specific markets. (T) 26. Macroeconomics is the study of economy-wide phenomena. (T) 27. Economists acting as scientists make positive stat
12、ements, while economists acting as policy advisers make normative statements. (T) 28. Normative statements describe how the world is, while positive statements prescribe how the world should be. (F) 29. Other things equal, an increase in supply causes a decrease in price is a normative statement, no
13、t a positive statement. (F) 30. There is only one explanation for why economists give conflicting advice on policy issues, and it is that they have different values about what policy should try to accomplish. (F) 31. The slope of a line is equal to the change in the x-variable divided by the change
14、in the y-variable. (F) Chapter 3 Interdependence And The Gains From Trade TRUE OR FALSE 1. Interdependence among individuals and interdependence among nations are both based on the gains from trade. (T) 2. If a person chooses self-sufficiency, then she can only consume what she produces. (T) 3. If W
15、rex can produce more math problems per hour and more book reports per hour than Maxine can, then Wrex cannot gain from trading math problems and book reports with Maxine. (F) 4. Trade allows a country to consume outside its production possibilities frontier. (T) 5. Opportunity cost refers to how man
16、y inputs a producer requires to produce a good. (F) 6. Opportunity cost measures the trade-off between two goods that each producer faces. (T) 7. For a country producing two goods, the opportunity cost of one good will be the inverse of the opportunity cost of the other good. (T) 8. If one producer
17、has the absolute advantage in the production of all goods, then that same producer will have the comparative advantage in the production of all goods as well. (F) 9. If a country has the comparative advantage in producing a product, then that country must also have the absolute advantage in producin
18、g that product. (F) 10. If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good. (F) 11. Unless two people who are producing two goods have e
19、xactly the same opportunity costs, then one person will have a comparative advantage in one good, and the other person will have a comparative advantage in the other good. (T) 12. The principle of comparative advantage states that, regardless of the price at which trade takes place, everyone will be
20、nefit from trade if they specialize in the production of the good for which they have a comparative advantage. (F) 13. Trade can benefit everyone in society because it allows people to specialize in activities in which they have a comparative advantage. (T) 14. Two countries can achieve gains from t
21、rade even if one country has an absolute advantage in the production of both goods. (T) 15. As long as two people have different opportunity costs, each can gain from trade with the other, since trade allows each person to obtain a good at a price lower than his or her opportunity cost. (T) 16. When
22、 each person specializes in producing the good in which he or she has a comparative advantage, each person can gain from trade but total production in the economy is unchanged. (F) 17. For both parties to gain from trade, the price at which they trade must lie exactly in the middle of the two opport
23、unity costs. (F) 18. David Ricardo was the author of the 1817 book Principles of Political Economy and Taxation. (T) 19. International trade may make some individuals in a nation better off, while other individuals are made worse off. (T) 20. Trade can make some individuals worse off, even as it mak
24、es the country as a whole better off. (T) SHORT ANSWER 1. Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why? Absolute advantage refers to productivity, as in the produce
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