Quiz for Chapter 01【含答案】 Principles of Microeconomics

(1)单选题

You have decided that you want to attend a costume party as Iron Man. You estimate that it will cost $40 to assemble your costume. After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is

A  15

B  25

C  40

D  65

(2)单选题

If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is $3000 this semester (same as if not attending college), then your opportunity cost of attending college this semester is

A  5600

B  5900

C  10100

D  11600

(3)单选题

If you can buy 9 DVDs for $126 or you could buy 10 DVDs for $130, then the marginal cost of the tenth DVD is:

A  4

B  13

C  14

D  130

(4)单选题

The government should extend the duration of unemployment benefits to those workers who lost their jobs due to outsourcing. This statement is best described as

A  an example of the fallacy of composition.

B  a positive statement.

C  an example of marginalism.

D  a normative statement.

(5)单选题

Economists use the phrase ceteris paribus to express the assumption

A  "everything affects everything else."

B  "all else equal."

C  "there is no such thing as a free lunch."

D  "scarcity is a fact of life."

(6)单选题

Which of the following is an example of a positive statement?

A  Consumption should be distributed fairly in society.

B  People should pollute as little as possible.

C  Higher prices cause consumers to purchase less.

D  There should be no unemployment in an advanced industrial society.

(7)单选题

Figure 1.3.png

Refer to Figure 1.3. The slope of the line is

A  negative.

B  positive.

C  increasing at an increasing rate.

D  decreasing at an increasing rate.

(8)单选题

Figure 1.3.png

Refer to Figure 1.3. The slope of the line between Points B and D is

A  -3

B  -0.33

C  0.33

D  3

(9)单选题

Figure 1.3.png

Refer to Figure 1.3. The slope of the line between Points D and C is

A  -3

B  -0.33

C  0.33

D  3

(10)单选题

Figure 1.3.png

Refer to Figure 1.3. If a 45 degree line from the origin were also graphed, the existing line shown on the graph would ________ it.

A  lie below

B  cross

C  lie above

D  indeterminate from this information

(11)单选题

Figure 1.3.png

Refer to Figure 1.3. At Point A, what is the value of Y?

A  10

B  12

C  15

D  indeterminate from this information

(12)单选题

Among the fundamental concepts in economics are

A  opportunity cost.

B  efficient markets.

C  marginalism.

D  all of the above

(13)单选题

Which of the following is the best definition of economics?

A  the study of how consumers spend their income

B  the study of how business firms decide what inputs to hire and what outputs to produce

C  the study of how the federal government allocates tax dollars

D  the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided

(14)单选题

Which of the following statements is NOT correct?

A  In large measure, economics is the study of how people make choices.

B  Economics is a behavioral science.

C  If poverty were eliminated, there would be no reason to study economics.

D  Economic analysis can be used to explain how both individuals and societies make decisions.

(15)单选题

Suppose that you purchased a ticket to a jazz festival for $100 from an online ticket broker. Once you arrived at the festival, you discovered that parking costs you an additional $15. In this situation, the additional $15 you pay for parking is an example of

A  an inefficient cost.

B  marginal cost.

C  an economic loss.

D  implicit cost.

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