经济学原理对应练习--03.doc
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经济学原理对应练习--03.doc
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Chapter3/InterdependenceandtheGainsfromTradev115
Chapter3
InterdependenceandtheGainsfromTrade
MultipleChoice
1. Peoplewhoprovideyouwithgoodsandservices
a. areactingoutofgenerosity.
b. dosobecausetheyhavenootherchoice.
c. dosobecausetheygetsomethinginreturn.
d. arerequiredtodosobygovernment.
ANS:
C PTS:
1 DIF:
1 REF:
3-0
TOP:
Trade MSC:
Interpretive
2. Whenaneconomistpointsoutthatyouandmillionsofotherpeopleareinterdependent,heorsheisreferringtothefactthatweall
a. relyupongovernmenttoprovideuswiththebasicnecessitiesoflife.
b. relyupononeanotherforthegoodsandservicesweallconsume.
c. havesimilartastesandabilities.
d. areconcernedaboutoneanother’swell-being.
ANS:
B PTS:
1 DIF:
1 REF:
3-0
TOP:
Trade MSC:
Interpretive
3. Peoplegenerallychoosetodependuponothersforgoodsandservices.Economistsviewthisinterdependenceas
a. agoodthing,sinceitfostersfriendshipsandbondsthatotherwisewouldneverdevelop.
b. agoodthing,sinceitallowspeopletoconsumemoregoodsandservicesthantheywouldotherwisebeabletoconsume.
c. abadthing,sinceself-sufficiencymaybecomenecessaryinthefuture.
d. abadthing,sinceinterdependencereducespeople’sself-esteemandcausesvarioussocialproblems.
ANS:
B PTS:
1 DIF:
1 REF:
3-1
TOP:
Trade MSC:
Interpretive
4. Regangrowsflowersandmakesceramicvases.Jaysonalsogrowsflowersandmakesvases,butReganisbetteratproducingboth.Inthiscase,tradecould
a. benefitbothJaysonandRegan.
b. benefitJayson,butnotRegan.
c. benefitRegan,butnotJayson.
d. benefitneitherJaysonnorRegan.
ANS:
A PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade MSC:
Interpretive
5. BenbakesbreadandShawnaknitssweaters.Benlikestoeatbreadandwearsweaters,andthesameistrueforShawna.InwhichofthefollowingcasesisitimpossibleforbothBenandShawnatobenefitfromtrade?
a. BencannotknitsweatersandShawnacannotbakebread.
b. BenisbetterthanShawnaatbakingbreadandShawnaisbetterthanBenatknittingsweaters.
c. BenisbetterthanShawnaatbakingbreadandatknittingsweaters.
d. Noneoftheaboveiscorrect.
ANS:
D PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade MSC:
Applicative
6. ShannonbakescookiesandJustingrowsvegetables.InwhichofthefollowingcasesisitimpossibleforbothShannonandJustintobenefitfromtrade?
a. ShannondoesnotlikevegetablesandJustindoesnotlikecookies.
b. ShannonisbetterthanJustinatbakingcookiesandJustinisbetterthanShannonatgrowingvegetables.
c. JustinisbetterthanShannonatbakingcookiesandatgrowingvegetables.
d. Alloftheabovearecorrect.
ANS:
A PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade MSC:
Applicative
7. Considerashoemakerandavegetablefarmer.Potentially,tradecouldbenefitbothindividualsif
a. theshoemakercanproduceonlyshoesandthevegetablefarmercanproduceonlyvegetables.
b. theshoemakeriscapableofgrowingvegetables,butheisnotverygoodatit.
c. thevegetablefarmerisbetteratgrowingvegetablesandbetteratmakingshoesthantheshoemaker.
d. Alloftheabovearecorrect.
ANS:
D PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade MSC:
Interpretive
8. Withouttrade,
a. acountryisbetteroffbecauseitwillhavetolearntobeself-sufficientwithouttrade.
b. acountry'sproductionpossibilitiesfrontierisalsoitsconsumptionpossibilitiesfrontier.
c. acountrycanstillbenefitfrominternationalspecialization.
d. interdependenceismoreextensivethanitwouldbewithtrade.
ANS:
B PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade MSC:
Interpretive
9. Acountry'sconsumptionpossibilitiesfrontiercanbeoutsideitsproductionpossibilitiesfrontierif
a. thecountry’stechnologyissuperiortothetechnologiesofothercountries.
b. thecitizensofthecountryhaveagreaterdesiretoconsumegoodsandservicesthandothecitizensofothercountries.
c. thecountryengagesintrade.
d. Alloftheabovearecorrect.
ANS:
C PTS:
1 DIF:
2 REF:
3-1
TOP:
Trade|Productionpossibilitiesfrontier MSC:
Interpretive
10. Aproductionpossibilitiesfrontierwillbeastraightlineif
a. increasingtheproductionofonegoodbyxunitsentailsnoopportunitycostintermsoftheothergood.
b. increasingtheproductionofonegoodbyxunitsentailsaconstantopportunitycostintermsoftheothergood.
c. theeconomyisproducingefficiently.
d. theeconomyisengagedintradewithatleastoneothereconomy.
ANS:
B PTS:
1 DIF:
3 REF:
3-1
TOP:
Productionpossibilitiesfrontier MSC:
Applicative
11. Thedifferencebetweenproductionpossibilitiesfrontiersthatarebowedoutandthosethatarestraightlinesisthat
a. bowed-outproductionpossibilitiesfrontiersapplytoeconomiesthatfacetradeoffs,whereasstraight-lineproductionpossibilitiesfrontiersapplytoeconomiesthatdonotfacetradeoffs.
b. bowed-outproductionpossibilitiesfrontiersapplytoeconomiesinwhichresourcesarenotspecialized,whereasstraight-lineproductionpossibilitiesfrontiersapplytoeconomiesinwhichresourcesarespecialized.
c. bowed-outproductionpossibilitiesfrontiersillustrateincreasingopportunitycost,whereasstraight-lineproductionpossibilitiesfrontiersillustrateconstantopportunitycost.
d. straight-lineproductionpossibilitiesfrontiersillustratereal-worldconditions,whereasbowed-outproductionpossibilitiesfrontiersillustratemoresimplisticassumptions.
ANS:
C PTS:
1 DIF:
3 REF:
3-1
TOP:
Productionpossibilitiesfrontier|Opportunitycost MSC:
Applicative
12. Whichofthefollowingstatementsisnotcorrect?
a. Tradeallowsforspecialization.
b. Tradehasthepotentialtobenefitallnations.
c. Tradeallowsnationstoconsumeoutsideoftheirproductionpossibilitiescurves.
d. Absoluteadvantageisthedrivingforceofspecialization.
ANS:
D PTS:
1 DIF:
2 REF:
3-2
TOP:
Specialization|Trade MSC:
Interpretive
13. IflaborinMexicoislessproductivethanlaborintheUnitedStatesinallareasofproduction,
a. neithernationcanbenefitfromtrade.
b. MexicocanbenefitfromtradebuttheUnitedStatescannot.
c. theUnitedStateswillhaveacomparativeadvantagerelativetoMexicointheproductionofallgoods.
d. bothMexicoandtheUnitedStatesstillcanbenefitfromtrade.
ANS:
D PTS:
1 DIF:
2 REF:
3-2
TOP:
Comparativeadvantage|Trade MSC:
Interpretive
14. Theproductionpossibilitiesfrontierisadownward-slopingstraightlinewhen
a. itispossibletoswitchbetweenonegoodandtheothergoodataconstantrate.
b. thereisnotradeoffinvolvedinswitchingbetweenonegoodandtheothergood.
c. thesameamountoftimeisrequiredtoproduceaunitofonegoodasisrequiredtoproduceaunitoftheothergood.
d. thepersonforwhomthefrontierisdrawnwishestoconsumeequalamountsofthetwogoods.
ANS:
A PTS:
1 DIF:
2 REF:
3-1
TOP:
Productionpossibilitiesfrontier MSC:
Interpretive
Table3-1
LaborHoursNeededtoMake1Poundof:
Poundsproducedin40hours:
Meat
Potatoes
Meat
Potatoes
Farmer
8
2
5
20
Rancher
4
5
10
8
15. RefertoTable3-1.Theopportunitycostof1poundofmeatforthefarmeris
a. 1/4houroflabor.
b. 4hoursoflabor.
c. 4poundsofpotatoes.
d. 1/4poundofpotatoes.
ANS:
C PTS:
1 DIF:
2 REF:
3-2
TOP:
Opportunitycost MSC:
Applicative
16. RefertoTable3-1.Theopportunitycostof1poundofmeatfortherancheris
a. 4hoursoflabor.
b. 5hoursoflabor.
c. 4/5poundsofpotatoes.
d. 5/4poundsofpotatoes.
ANS:
C PTS:
1 DIF:
2 REF:
3-2
TOP:
Opportunitycost MSC:
Applicative
17. RefertoTable3-1.Theopportunitycostof1poundofpotatoesforthefarmeris
a. 8hoursoflabor.
b. 2hoursoflabor.
c. 4poundsofmeat.
d. 1/4poundofmeat.
ANS:
D PTS:
1 DIF:
2 REF:
3-2
TOP:
Opportunitycost MSC:
Applicative
18. RefertoTable3-1.Theopportunitycostof1poundofpotatoesfortherancheris
a. 5hoursoflabor.
b. 4hoursoflabor.
c. 5/4poundsofmeat.
d. 4/5poundofmeat.
ANS:
C PTS:
1 DIF:
2 REF:
3-2
TOP:
Opportunitycost MSC:
Applicative
19. RefertoTable3-1.Thefarmerhasanabsoluteadvantagein
a. meat,andtherancherhasanabsoluteadvantageinpotatoes.
b. potatoes,andtherancherhasanabsoluteadvantageinmeat.
c. meat,andtherancherhasanabsoluteadvantageinmeat.
d. neithergood,andtherancherhasanabsoluteadvantageinbothgoods.
ANS:
B PTS:
1 DIF:
2 REF:
3-2
TOP:
Absoluteadvantage MSC:
Applicative
20. RefertoTable3-1.Therancherhasanabsoluteadvantagein
a. bothgoods,andthefarmerhasacomparativeadvantageinmeat.
b. bothgoods,andthefarmerhasacomparativeadvantageinpotatoes.
c. meat,andthefarmerhasacomparativeadvantageinpotatoes.
d. meat,andthefarmerhasacomparativeadvantageinneithergood.
ANS:
C PTS:
1 DIF:
3 REF:
3-2
TOP:
Absoluteadvantage|Comparativeadvantage MSC:
Applicative
21. RefertoTable3-1.Thefarmerhasanabsoluteadvantagein
a. potatoes,andtherancherhasacomparativeadvantageinmeat.
b. meat,andtherancherhasacomparativeadvantageinpotatoes.
c. neithergood,andtherancherhasacomparativeadvantageinpotatoes.
d. neithergood,andtherancherhasacomparativeadvantageinmeat.
ANS:
A PTS:
1 DIF:
3 REF:
3-2
TOP:
Absoluteadvantage|Comparativeadvantage MSC:
Applicative
22. RefertoTable3-1.Therancherhasacomparativeadvantagein
a. neithergood,andthefarmerhasacomparativeadvantageinbothgoods.
b. bothgoods,andthefarmerhasacomparativeadvantageinneithergood.
c. potatoes,andthefarmerhasacomparativeadvantageinmeat.
d. meat,andthefarmerhasacomparativeadvantageinpotatoes.
ANS:
D PTS:
1 DIF:
2 REF:
3-2
TOP:
Comparativeadvantage MSC:
Applicative
23
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