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1、GrundzügederVolkswirtschaftslehre,Midterm29.11.04VERSION1mitAntwortenPAGE11.Acountry'sconsumptionpossibilitiesfrontiercanbeoutsideitsproductionpossibilitiesfrontiera.withtrade.b.byproducingagreatervarietyofgoodsandservices.c.byloweringunemploymentinthecountry.d.byallocatingresourcesdifferent
2、ly.2.Supposeconsumerincomeincreases.Ifswimsuitsarenormalgoods,theequilibriumpriceofswimsuitswill__________,andproducersurplusintheswimsuitindustrywill__________.a.decrease,decreaseb.decrease,increasec.increase,decreased.increase,increase3.Alegalminimumpriceatwhichagoodcanbesoldisaa.priceceil
3、ing.b.pricecut.c.pricefloor.d.pricestabilization.ThesefiguresillustratetheproductionpossibilitiesavailabletoTomandNicolewith40hoursoflabor.4.Refertothegraphsgiven.IfTomandNicolebothspecializeinthegoodinwhichtheyhaveacomparativeadvantage,totalproductionofbookswillbe__________andtotalproductio
4、nofvideoswillbe__________.a.40,4b.42,9c.9,42d.4,40GrundzügederVolkswirtschaftslehre,Midterm29.11.04VERSION1PAGE25.Inthegraphshown,thesectionofthedemandcurvelabeledCrepresentsa.theelasticsectionofthedemandcurve.b.theinelasticsectionofthedemandcurve.c.theunitelasticsectionofthedemandcurve.d.th
5、eperfectlyelasticsectionofthedemandcurve.6.Thedemandforagoodtendstobemoreelastica.thelongertheperiodoftime.b.thegreatertheavailabilityofclosesubstitutes.c.thenarrowerthedefinitionofthemarket.d.Alloftheabovearecorrect.Thistablereferstofivepossiblebuyers'willingnesstopayforGoodZ.BuyerWillingne
6、sstoPayCassie$8.50Jamie7.00John5.50Jeremy4.00Sarah3.507.Refertothetableshown.WhichofthefollowingisNOTtrue?a.Thedemandschedulerepresentedbythetableshowsthewillingnesstopayofthemarginalbuyer.b.Atapriceof$4.00,totalconsumersurplusinthemarketwillbe$9.00.c.ThetableisthedemandscheduleforGoodZ.d.Wh
7、enthepriceis$3.50,eachpersonwouldhaveapositiveconsumersurplus.GrundzügederVolkswirtschaftslehre,Midterm29.11.04VERSION1PAGE38.Accordingtothegraph,thepricebuyerswillpayafterthetaxisimposedisa.$8.00.b.$6.00.c.$5.00.d.$3.50.9.Accordingtothegraphshown,
