04_will_macro5c_tb_ch04

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1、Macroeconomics,5Ce(Williamson)Chapter4ConsumerandFirmBehaviour:TheWork–LeisureDecisionandProfitMaximization1)AdynamicdecisionisonethatA)ismadeveryquickly.B)involvesonlythepresent.C)involvesonlythefuture.D)involvesplanningovermorethanonetimeperiod.E)involvedplanningoverexactlytwotimep

2、eriods.Answer:DType:MCPageRef:822)AstaticdecisionisonethatA)ismadeveryslowly.B)involvesplanningoveronetimeperiod.C)involvesplanningoverexactlytwotimeperiods.D)involvesplanningovermorethanonetimeperiod.E)involvesonlythepresent.Answer:BType:MCPageRef:823)Theconsumer'swork-leisurechoice

3、problemfocusesonhowaconsumer'swork-leisuredecisionisaffectedbytheconsumer'sA)preferencesandproductivity.B)productivityandpsychology.C)psychologyandpreferences.D)preferencesandconstraints.E)preferencesandpsychology.Answer:DType:MCPageRef:84-964)Theprinciplethatconsumersandfirmsoptimiz

4、eA)isnothelpfulbecausesomeeconomicagentsmaybehaveirrationally.B)ishelpfulbecauseitallowsustoanalyzehoweconomicagentsrespondtochangesintheirenvironment.C)onlyappliestoperfectlycompetitivemarkets.D)ishelpfulbecauseitdeterminestheavailabletechnology.E)isexplainedbytheirwork-leisurechoic

5、es.Answer:BType:MCPageRef:84-964-17Copyright©2018PearsonCanadaInc.5)Formacroeconomicpurposes,itisassumedthatallconsumersintheeconomyA)arediverse.B)arenotidentical.C)areidentical.D)exhibitdifferences.E)exhibitdifferentpreferences.Answer:CType:MCPageRef:84-966)Inmacroeconomicanalysis,t

6、herepresentativeconsumerA)denotestheconsumerwiththeaverageamountofincome.B)playstheroleofastand-inforallconsumersintheeconomy.C)istheconsumerwhobargainswithfirmsforallworkersintheeconomy.D)isalwaysamisleadingfiction.E)istheconsumerwithanaveragestandardofliving.Answer:BType:MCPageRef:

7、84-967)AutilityfunctionA)isastand-inforamorecomplicatedfunction.B)isusefulonlyinmicroeconomics,notmacroeconomics.C)capturesthepreferencesoftherepresentativehouseholdoverconsumptionandleisuregoods.D)capturestherepresentativefirm'sabilitytoproducegoodsandservices.E)capturesthemaximumsa

8、tisfactionof