名词解释题
Opportunity cost：whatever must be given up to obtain some item.
Marginal change：a small incremental adjustment to a plan of action
Inflation：an increase in the overall level of prices in the economy
Externality：the impact of one person’s actions on the well-being of a bystander
Production possibility frontier：a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
Microeconomics：the study of how households and firms make decisions and how they interact in markets.
Macroeconomics：the study of economy –wide phenomena, including inflation, unemployment, and economic growth
Positive statements:claims that attempt todescribe the world as it is
Absolute advantage：the ability to produce a good using fewer inputs than another producer
Comparative advantage：the ability to produce a good at a lower opportunity cost than another producer.
Demand curve: a graph of the relationship between the price of a good and the quantity demanded
Normal good：a good for which, other things being equal, an increase in income leads to an increase in demand
Inferior good：a good for which, other things being equal, an increase in income leads to an decrease in demand
Supply curve：a graph of the relationship between the price of a good and the quantity supplied
Surplus：a situation in which quantity supplied is greater than quantity demanded
Elasticity：a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants
Price elasticity of demand：a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price
Total revenue：the amount paid by buyers and received by sellers of a good, computed as the price of the good items the quantity sold
Price elasticity of supply：a measure of how much the quantity supplied of a good responds to a change in the price of the good, computed as the percentage change in quantity supplied divided by the percentage change in price
Price ceiling：a legal maximum on the price at which a good can be sold
Price floor：a legal minimum on the price at which a good can be sold
Tax incidence：the manner in which the burden of a tax is shared among participants in a market
Welfare economics：the study of how the allocation of resources affects economic well-being
Willingness to pay：the maximum amount that a buyer will pay for a good
Consumer surplus：the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it
producer surplus: the amount a seller ispaid for a good minusthe seller’s cost ofproviding it
Deadweight loss：the fall in total surplus that results from a market distortion, such as a tax
World price：the price of a good that prevails in the world market for that good
Tariff：tax on goods produced abroad and sold domestically
Corrective tax：a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality
Coase theorem：the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own
Transaction costs：the costs that parties incur in the process of agreeing to and following through on a bargain
Private goods：goods that are both excludable nor rival in consumption
Public goods: goods that are neitherexcludable nor rival inconsumption
common resources: goods that are rival inconsumption but notexcludable
Club goods：goods that are excludable but not rival in consumption
free rider: a person who receives the benefit of a good but avoids paying for it
cost–benefit analysis:a study that comparesthe costs and benefitsto society of providing apublic good
Tragedy of the commons：a parable that illustrates why common resources are used more than is desirable from the standpoint of society as a whole
Budget deficit：an excess of government spending over government receipts
Average tax rate：total taxes paid divided by total income
Benefits principle：the idea that people should pay taxes based on the benefits they receive from government services
Regressive tax: a tax for which high-incometaxpayers pay asmaller fraction of theirincome than do low-incometaxpayers
Progressive tax：a tax for which high-income taxpayers pay a large fraction of their income than do low-income taxpayers
Explicit costs：input costs that require an outlay of money by the firm
Implicit costs：input costs that do not require an outlay of money by the firm
Fixed costs：costs that do not vary with the quantity of output produced
Variable costs：costs that vary with the quantity of output produced
Marginal cost: the increase in total cost that arises from an extra unit of production
选择题
Chapter1 1-5 acbbd 6a
Chapter21-5 cabcd 6a
Chapter31-5 dbadb 6d
Chapter41-5 bbdba 6c
Chapter51-5 abdca 6c
Chapter61-5 dcaad 6d
Chapter71-5 aabcb 6c
Chapter81-5 abcab 6a
Chapter91-5 acabc 6d
Chapter101-5 cbacb 6c
Chapter111-5 abbdb6c
Chapter12 1-5bcaad 6c
Chapter13 1-5addcb 6a
Chapter14 1-5cbdad 6c
简答题
8. why is productivity important？(p18)
9.what is inflation and what cause it？(p18)
3.Should an economic model describe reality exactly？（p36）
10. Why do economists sometimes offer conflicting advicetopolicymakers?(p36)
2. Explain how absolute advantage and comparativeadvantage differ.(p59)
2. What are the demand schedule and the demandcurve, and how are they related? Why does the demandcurve slope downward?(p86)
7. Define the equilibrium of a market. Describe the forcesthat move a market toward its equilibrium.(p86)
4. On a supply-and-demand diagram, show equilibriumprice, equilibrium quantity, and the totalrevenuereceivedby producers.(p108)
4. Explain why economists usually oppose controlson prices.(p129)
6. How does a tax on a good affect the price paidby buyers, the price received by sellers, and thequantity sold?(p129)
1. Explain how buyers’ willingness to pay, consumersurplus, and the demand curve are related.(p151)
2. Draw a supply-and-demand diagram with a tax onthe sale of a good. Show the deadweight loss. Showthe tax revenue.(p168)
4. Describe what a tariff is and its economic effects.(p189)
5. List five arguments often given to support trade restrictions.How do economists respond to these arguments?(p189)
5. List some of the ways that the problems caused byexternalities can be solved without governmentintervention.(p212)
6. Imagine that you are a nonsmoker sharing a roomwith a smoker. According to the Coase theorem, whatdetermines whether your roommate smokes in theroom? Is this outcome efficient? How do you and yourroommate reach this solution?(p212)
2. Define and give an example of a public good. Can theprivate market provide this good on its own? Explain.(p229)
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