AP 微观经济学习题 Quiz

1. Scarcity is correctly described by which of the following statements?

I. Scarcity exists if there are more uses for resources than can be satisfied at one time.

II. Scarcity exists if decisions must be made about alternative uses for resources.

III. Scarcity would not exist in a society in which people wanted to help others instead of

themselves.

A. I only

B. II only

C. III only

D. I and II only

E. I, II, and III

2. The diagram below shows the production possibilities curve for Country Y. Which of the

following statements is true?

A. If Country Y is producing at point C, it is using all its resources efficiently.

B. The opportunity cost of producing more machines is constant.

C. Producing at point C is the most preferable, because butter is a nondurable good.

D. Country Y cannot produce at point E.

E. The economy is not producing at its potential, since it is not producing at point D.

duals in any society must make choices regarding the types of goods and services to be

produced because

A. free markets do not always allocate resources efficiently

B. free markets only satisfy the demands of paying consumers

C. opportunity costs increase as more of a good or service is produced

D. resources are scarce and human wants are unlimited

E. resources must be allocated for the benefit of the entire society

4. If a certain combination of goods or services lies outside the production possibilities curve of

an economy, which of the following is true?

A. Effective trade barriers have reduced foreign imports into the economy.

B. New technology is being used in production.

C. Resources are not available to achieve that combination of goods or services.

D. Resources are not being used efficiently to achieve that combination of goods or services.

E. Resources are being used at a more rapid rate than they were in the past.

5. The concept of opportunity cost would no longer be relevant if

A. poverty in an economy no longer existed

B. the supply of all resources were unlimited

C. resources were allocated efficiently

D. real wages were flexible

E. all current incomes were invested in technological research

6. According to the graph below, if a country is

currently producing at point X, the opportunity

cost of producing another consumer good is

A. 20 capital goods

B. more than 20 capital goods

C. fewer than 20 capital goods

D. 20 consumer goods

E. fewer than 20 consumer goods

7. The study of economics is primarily concerned with which of the following?

A. The testing of hypotheses under controlled conditions

B. The allocation of scarce resources, given unlimited wants

C. The fair and equal treatment of all households

D. The provision of conclusive answers to public policy issues

E. The development of the dynamics of group behavior

8. For an economy with a straight-line production possibility curve, which of the following must

be true?

I. The opportunity cost of producing another unit is constant.

II. Resources are completely adaptable to alternative uses.

III. Resources are used efficiently.

A. I only

B. II only

C. III only

D. I and II

E. II and III

9. An opportunity cost is entailed in which of the following situations?

I. A student decides to attend college full-time.

II. A family uses its $20,000 savings to purchase an automobile.

III. A farmer decides to grow more wheat and less corn.

A. I only

B. II only

C. III only

D. I and III only

E. I, II, and III

Questions 10-11 refer to the following graph of a country’s production possibilities curve.

10. If two coats are currently being produced, the opportunity cost of producing the third coat is

A. 85 belts

B. 75 belts

C. 40 belts

D. 15 belts

E. 10 belts

11. The best combination of belts and coats for this economy to produce is

A. 95 belts and 1 coat

B. 85 belts and 2 coat

C. 70 belts and 3 coat

D. 40 belts and 4 coat

E. Indeterminate with the available information

12. Karen works part-time at a local convenience store and earns $10 per hour. She wants to

spend next Saturday afternoon attending a music concert. The full price of a concert ticket is $75,

but Karen was able to get a discounted price of $50 from a friend who purchased the ticket but

has become unable to attend. If Karen took 4 hours off from her job to attend the concert, what

was her opportunity cost of attending the concert?

A. $40

B. $50

C. $74

D. $90

E. $115