基础经济学（Basic economics）

1、基础经济学（Basic economics）First, individual choice1., when other conditions remain unchanged, an increase in consumer income will lead to normal goodsA. demand increases; B. demand decreases;C. demand increases and D. demand decreases.2., in () circumstances, equilibrium prices are bound to rise.A. both

2、 demand and supply have increased; B. demand and supply have decreased;C. demand increases, supply decreases; D. demand decreases and supply increases.The absolute value of the slope of a point on the 3. constant yield curve.Marginal conversion A. two commodity rate; B. two elements of the marginal

3、rate of substitution; C. The ratio of the prices of two commodities; the marginal rate of substitution of D. for two commodities.4. in a perfectly competitive market, if the price is equal to the long-run average cost, then.A. industry, the number of manufacturers unchanged; B. original manufacturer

4、s quit the industry;C. new manufacturers to enter this industry; D. both manufacturers to enter, but also manufacturers out of the industry.5., long-term equilibrium, monopolistic competition vendors ().A. gets an excess profit; B. gets a normal profit;C. loss; D. loss; uncertainty.6., a firm is bot

5、h a seller monopolist and a buyer monopolist in the factor market, and the principle of its use factor is ().A.VMPL=W; b.VMPL=MFCL; the c.MRPL=W d.MRPL=MFCL.7. in the economies of only two (A and B) and two commodities (L and K) producing two commodities (X and Y), the general equilibrium condition

6、of exchange is ().A. share in B.;C.; D. share.8. in order to effectively allocate scarce resources, requirements ().A. society MR equals society MC; B. society MR is equal to private MC;C. private MR is equal to private MC; D. private MR equals social MC;9. if the current price is lower than the bas

7、e price, then this period ().A. the actual GDP is equal to the nominal GDP; the actual GDP of the B. is less than the nominal GDP;C. the actual GDP is greater than the nominal GDP; whether the actual GDP of the D. is less than the nominal GDP is uncertain.10. in the revenue decision model of the fou

8、r sector of the product market, the government increases the purchase expenditure and tax at the same time, GDP ().A. will decline, and decline in the amount equal to the tax increase the amount;B. will decline, but the decline is less than the amount of the tax increase;C. will increase, and increa

9、se the amount of government spending increases the amount;D. will increase, but the increase will be less than the increase in government purchases.11., when interest rates fall very low, the risk of buying bonds will be.A. becomes very small; B. becomes very large;C. may be large or very small; D.

10、does not change.12. as the price level rises, the actual money supply.A. increases; B. decreases; C. does not change; D. may increase; may decrease.13. unemployment due to economic depression is ().A. cyclical unemployment; B. structural unemployment;C. frictional unemployment; D. natural unemployme

11、nt.14. if the GNP of a country is less than GDP, it shows the income of the resident of the country from the foreign territory () the income of the foreign resident from the territory of the country.A. greater than; B. less than; C. equal to; D may be greater than may be less than;15. if a consumer,

12、 he will ().A. reduces X purchases and reduces Y purchases; B. increases X purchases and increases Y purchases;C. increases X purchases and reduces Y purchases; D. reduces X purchases and increases Y purchases.Two. NOUN explanation:1. Gini coefficient; 2. marginal rate of substitution;3. crowding ou

13、t effect; 4. marginal efficiency of capital.Three. Discrimination questions:1. in the short run, when the product price is less than the product cost, that is, the loss, manufacturers should stop business.2. the interest paid by the government to buy government bonds and the interest earned on the p

14、urchase of corporate bonds should be included in the GDP.3. for individual workers, the substitution effect of wage rate or leisure price change is always greater than the income effect.4., as far as neoclassical macroeconomics is concerned, as long as the government publicly announces the implement

15、ation of an inflationary tightening of monetary policy, society can reduce its inflation rate without reducing employment and production.Four. Questions and answers1., how does externalities affect the allocation of resources? Why is it clear that property rights can eliminate externalities when tra

16、nsaction costs are zero?TwoThe decisive factors of the function mechanism of monetary policy and the role of monetary policy are discussed.Five. Calculation questions1. cost constant the long-run cost function of a perfectly competitive firm in the industry is:LTC (q = 0.1q34q2100q for manufacturers

17、, production) market demand function: Q = 9000100P (Q is the industrys sales). O:(1) long-term equilibrium output and selling price;(2) long-term balanced output of the industry;(3) the number of firms in a long-term equilibrium.2., assuming that the governments current budget deficit is $15 billion

18、, the marginal propensity to consume is c=0.8, and the marginal tax rate is t=0.25. If the government reduces its inflation rate, it will spend less than 40 billion dollars. How can this change in spending ultimately eliminate the deficit?Answers and analysisFirst, individual choice1.c; 2.c; 4.a; 5.

19、b; 6.d; 3.b; 7.b; 8.a; 9.c; 10.d; 11.b; 12.b; 13.a; 14.b; 15.c.Two. Noun explanation1. Gini coefficient refers to the enclosed Lorenz curve Lorenz curve equal area and the income distribution of the Lorenz curve completely equal income distribution with the actual Lorenz curve surrounded with unequa

20、l income distribution complete area ratio. It measures the degree of equality of income distribution in a country. The greater the Gini coefficient, the income distribution is more unequal.2. marginal rate of substitution refers to the amount of other goods that consumers are willing to reduce by ad

21、ding one unit of a commodity at the same level of preference and level of satisfaction.3., the crowding out effect refers to an increase in the structural deficit caused by government spending increases and tax cuts. It is possible to raise interest rates and reduce private investment.4., the margin

22、al efficiency of capital is a kind of discount rate, which makes the present value of the expected return of a capital product equal to the reset price of the capital product. It is negatively related to the reset price of capital goods, and positively related to the expected return of capital.Three

23、. Discrimination questions1. wrong. In the short run, when the product price is less than the product cost, that is, the loss, as long as the price is greater than the average variable costs, manufacturers should still produce. Because the losses incurred during production (less than the fixed costs

24、) are always less than the losses incurred when the business is closed (fixed costs). Only when the price is not only less than the cost of the product, but also smaller than the average variable costs, manufacturers will stop business.2. wrong. The interest that people buy bonds should not be inclu

25、ded in the GDP, and the interest payable on the purchase of corporate bonds should be included in the GDP. This is because the interest income from the purchase of corporate bonds comes directly from the sales revenue of the product, and of course it is included in the GDP according to the income me

26、thod. The interest on government bonds comes directly from taxes, which are included in the GDP, which is calculated by income. As a result, the interest on government bonds can no longer be credited to the GDP, otherwise it will be repeated.3. wrong. For a single worker, when the wage rate is relat

27、ively low, the substitution effect of wage rate changes is greater than the income effect, that is, the amount of labor supply increases with the increase of the wage rate. When the wage rate is higher, the substitution effect of wage rate change is less than the income effect, that is, the labor su

28、pply decreases with the increase of the wage rate. Thus, the individual labor supply curve is bent backwards.4. pairs. Neoclassical macroeconomics argues that changes in monetary policy, if desired, have no impact on production and employment levels, even in the short run. The expected monetary cont

29、raction will allow rational parties to correct their inflation expectations immediately. Thus, in theory, monetary authorities can reduce inflation without any yield or employment costs, that is, the central banks cost of reducing inflation is zero. Therefore, there is no need to follow the progressive monetary policy advocated by Orthodox monetarism. The authorities may only need to declare a reduction in the rate of monetary expansion so that inflation can fall to its desired target without pay