曼昆经济学原理微观经济学英文版习题答案

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1、Chapter1/TenPrinciplesofEconomicsF167UNIT1SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes1.Thefourprinciplesofeconomicdecisionmakingare:(1)peoplefacetradeoffs;(2)thecostofsomethingiswhatyougiveuptogetit;(3)rationalpeoplethinkatthemargin;and(4)peoplerespondtoincentives.Peoplefacetradeoffsbecausetogetone

2、thingthattheylike,theyusuallyhavetogiveupanotherthingthattheylike.Thecostofsomethingiswhatyougiveuptogetit,notjustintermsofmonetarycostsbutallopportunitycosts.Rationalpeoplethinkatthemarginbytakinganactionifandonlyifthemarginalbenefitsexceedthemarginalcosts.Peoplerespondtoincentivesbecauseas

3、theycomparebenefitstocosts,achangeinincentivesmaycausetheirbehaviortochange.2.Thethreeprinciplesconcerningeconomicinteractionsare:(1)tradecanmakeeveryonebetteroff;(2)marketsareusuallyagoodwaytoorganizeeconomicactivity;and(3)governmentscansometimesimprovemarketoutcomes.Tradecanmakeeveryonebet

4、teroffbecauseitallowscountriestospecializeinwhattheydobestandtoenjoyawidervarietyofgoodsandservices.Marketsareusuallyagoodwaytoorganizeeconomicactivitybecausetheinvisiblehandleadsmarketstodesirableoutcomes.Governmentscansometimesimprovemarketoutcomesbecausesometimesmarketsfailtoallocateresou

5、rcesefficientlybecauseofanexternalityormarketpower.3.Thethreeprinciplesthatdescribehowtheeconomyasawholeworksare:(1)acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices;(2)pricesrisewhenthegovernmentprintstoomuchmoney;and(3)societyfacesashort-runtradeoffbetweeninflationandu

6、nemployment.Acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices,whichinturndependsonitsproductivity,whichisafunctionoftheeducationofworkersandtheaccessworkershavetothenecessarytoolsandtechnology.Pricesrisewhenthegovernmentprintstoomuchmoneybecausemoremoneyincirculationredu

7、cesthevalueofmoney,causinginflation.Societyfacesashort-runtradeoffbetweeninflationandunemploymentthatisonlytemporaryandpolicymakershavesomeabilitytoexploitthisrelationshipusingvariouspolicyinstruments.QuestionsforReview1.Examplesoftradeoffsincludet