If a country produces good Y (measured on the vertical axis. and good

1.If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to _____________.选项： A:the opportunity cost of good X.; B:the price of good X divided by the price of good Y.; C:the price of good Y divided by the price of good X.; D:the opportunity cost of good Y.

2.If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to _____________. 选项： A、the opportunity cost of good X. B、the price of good X divided by the price of good Y. C、the price of good Y divided by the price of good X. D、the opportunity cost of good Y.

3.Generally, on a linear two-good production possibilities curve, the opportunity cost of the good measured on the vertical axis is:选项： A:the negative of the opportunity cost of the good measured on the horizontal axis.; B:one minus the opportunity cost of the good measured on the horizontal axis.; C:the absolute value of the slope of the production possibilities curve.; D:the reciprocal of the opportunity cost of the good measured on the horizontal axis.

4.If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to _____________.

5. The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of one unit of Y when the production of good Y increases from 16 to 28 units? 选项： A、 4 units of good X per unit of good Y B、 3 units of good X per unit of good Y C、 1/4 unit of good X per unit of good Y D、 There is no opportunity cost when moving from one point to another along a production possibilities frontier.

6.Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. Which of the following statements is TRUE? Productivity Country 选项： A、Country B、Good X 1.00 0.50 Good Y 0.20 0.70 A) Country B has an absolute advantage in the production of both Good X and Good Y. B) Country A has an absolute advantage in the production of Good X. C、Country A has an absolute advantage in the production of both Good X and Good Y. D、Country B has an absolute advantage in the production of Good X.

7.Producer surplus is the ( ) summed over the quantity sold. 选项： A、value of a good minus the price received for it B、price received for a good minus the value of the good C、price received for a good minus its marginal cost D、marginal cost of making a good minus the price received for it

8.43)Consumer surplus isA) the value of a good minus the price paid for it.B) the price paid for a good minus the value of thecost of making itD) the opportunity cost of making a good minusce paid for it.

9.Marginal cost is the ( ) one more unit of a good and ( ) of the good increases. 选项： A、opportunity cost of producing; increases as production B、opportunity cost of producing; decreases as production C、price that must be paid to consume; increases as consumption D、price that must be paid to consume; decreases as consumption

10.The above table shows production combinations on a country's production possibilities frontier. The opportunity cost of increasing the production of Y from 16 to 28 units is ________ units of good X per unit of good Y. 选项： A、12 B、 6 C、 3 D、 There is no opportunity cost when moving from one point to another along a production possibilities frontier so none of the above answers is correct.

11.If the price of a normal good is measured along the vertical axis and its quantity along the horizontal axis, an increase in the price of the good will lead to:

12.Which of the following statements about the price elasticity of demand is correct?选项： A:The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases.; B:Price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastes.; C:Other things equal, if good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good y.; D:All of the above are correct.

13.Suppose that Fiona spends all of her income on 10 units of good X and 14 units of good Y. Fiona's marginal utility from the 10th unit of good X is 24 utils, and her marginal utility from the 14th unit of good Y is 20 utils. If the price of good X is $8 per unit and the price of good Y is $5 per unit, then to comply with the rational spending rule, Fiona should:选项： A:purchase less than 10 units of good X and more than 14 units of good Y.; B:continue to purchase 10 units of good X and 14 units of good Y.; C:purchase more than 10 units of good X and less than 14 units of Y.; D:purchase more than 10 units of good X and more than 14 units of good Y.

14.Jaime is currently consuming some of good X and some of good Y. If good Y is a normal good for this consumer, a rise in her income will definitely cause her to选项： A:increase her consumption of X.; B:increase her consumption of Y.; C:decrease her consumption of X.; D:decrease her consumption of Y.

15.The cross elasticity of demand is calculated as the percentage change in the 选项： A、quantity demanded of one good divided by the percentage change in the price of another good B、price of one good divided by the percentage change in the quantity demanded of another good. C、quantity demanded of one good divided by the percentage change in the quantity demanded of another good. D、price of one good divided by the percentage change in the price of another good.

16.The opportunity cost of a good is the same as its 选项： A、money price. B、relative price. C、price index. D、none of the above

17.Simon consumes two goods, X and Y. If the price of good X increases and his demand for X increases:选项： A:good X must be a Giffen good.; B:good X must be an ordinary good.; C:good X must be a normal good.; D:there is not enough information to judge whether good X is a normal or inferior good.

18.Simon consumes two goods, X and Y. If the price of good X increases and his demand for X increases: 选项： A、good X must be a Giffen good. B、good X must be an ordinary good. C、good X must be a normal good. D、there is not enough information to judge whether good X is a normal or inferior good.

19.You are analyzing the demand for good X. Which of the following will result in a shift to the right of the demand curve for X? A: A decrease in the price of X B: An increase in the price of a good that is a complement to good X C: An increase in the price of a good that is a substitute for X D: all of the above

20.NullA country has a comparative advantage in the production of a good if it can 选项： A、produce more of the good than another country. B、produce more of the good most efficiently. C、produce the good on and remain on its production possibilities frontier. D、produce the good at the lowest opportunity cost.

21.Producer surplus is the difference between the 选项： A、price and the willingness to pay for the good. B、price and the marginal cost of producing the good summed over the quantity sold. C、willingness to pay for the good and the marginal cost of producing the good summed over the quantity sold. D、marginal benefit of consuming the good and the marginal cost of producing the good summed over the quantity sold.

22.The slope of a line is equal to 选项： A、the change in the value of x divided by the change in the value of y. B、the change in the value of y divided by the change in the value of x. C、the horizontal distance divided by the vertical distance. D、the value of y divided by the value of x.

23.Which of the following increases the quantity supplied of good X but does NOT increase the supply of good X? 选项： A、a fall in the price of a factor production used to produce X B、 an advance in the technology for producing X C、 an increase in the price of good Y, a complement in the production of X D、 an increase in the price of X