What Microeconomics is about?( )
A:Study of Business Environment
B:Study of financial position of the economy
C:Study of the Economy at Micro Level
答案: 【Study of the Economy at Micro Level】
Economics proceeds by making models of ( ), which are simplified representations of reality.
答案: 【social phenomena】
The demand curve shows ( )
A:how much people would like to pay at the reserve prices.
B:how much firms would like to sell at each prices.
C:how much market would like to trade.
答案: 【how much people would like to pay at the reserve prices.】
The conflict between the scarce economic wants of society and its limited resources gives rise to the economizing problem.
The only requirement for a market to be perfectly competitive is for the market to have many buyers and sellers.
If there are two goods with positive prices and the price of one good is reduced, while income and other prices remain constant, then the size of the budget set is reduced.
If preferences are transitive, more is always preferred to less.
With quasi-linear preferences, the slope of indifference curves is constant along all rays through the origin.
Hans has 27 dollars, which he decides to spend on x and y. Commodity x costs $16 per unit and commodity y costs $10 per unit. He has the utility function U (x, y)=5x2 + 2y2 and he can purchase fractional units of x and y.
A: Hans will choose only x.
B: Hans will choose only y.
C: Hans will chose some of each commodity, but more y than x.
D: Hans will choose some of each commodity, but more x than y.
答案: 【 Hans will choose only y.】
Wanda Littlemores utility function is U (x, y) = x + 63y2.Her income is 184. If the price of x is 1 and the price of y is 33, how many units of good x will Wanda demand?