PART 1. The Theory of DemandPART 1. The Theory of Demand
1. Tom graduates from university with a degree in Economics and his income increases by £10,000 a year. Other things remaining the same, he decreases the quantity of donuts he buys. For Tom, donuts ______________.
A are a normal good
B and tea has become complements
C are an inferior good
D and toast have become substitutes
2. Suppose that an 20% increase in the price of good Y results in an increase in the consumption of good X of 8%. This is an example of
A The substitution effect
B A higher demand for all goods and services in general
C A shift in supply
D The real income effect
3. The market demand curve for overseas cruises will NOT shift when there is a
A Fall in the price of a cruise in the brochures
B Successful advertising campaign
C Rise in consumers real incomes
D Increase in the price of land-based package holidays (a substitute for cruises)
4. Chicken and fish are a (more...)
PART 0. Introductory Economic Concepts
PART 0. Introductory Economic Concepts
1. Which one of the following is a positive economic statement?
A the extent of income inequality in the United Kingdom has increased over the last 30 years
B the rate of unemployment is too high
C the national minimum wage rate should be increased to £5 per hour for all workers
D nurses working the national health service should be on a maximum working week of 50 hours per week
2. Which one of the following is an example of a 'normative economic statement'?
A Most firms seek to maximise their market share
B Prices in a competitive market are likely to be lower than under a pure monopoly
C Increased consumer spending on new cars will lead to a rise in traffic congestion
D The government should increase the taxation on goods which harm the environment
3. Which economic concept is illustrated by the shape of the production possibility frontier shown in the diagram above?
A The theory of demand
B Economic growth
C The law of diminishing marginal returns
D The law of economies of scale
4. The opportunity cost to society of constructing a new motorway would be
A The other goods and services which labour employed constructing the road could produce
B The other goods and services that would be produced if the motorway were not built
C The financial cost of the road
D The loss of farmland and natural habitat used in order to build the road
5. In a market-based economy the scarcity of factors of production means that
A The economy cannot achieve economic growth every year
B The economy cannot produce on its production possibility frontier
C Consumers must inevitably consider the opportunity cost of their choices
D Inflation is inevitable
6. A reallocation of resources within an economy from A to B shown in the PPF diagram above is likely to lead to
A An increase in the demand for consumption goods
B A short term rise in production of consumer goods and a fall in demand for investment goods
C A short term fall in production of consumer goods but a long term rise in an economy's productive potential
D A decrease in demand for workers employed in producing capital goods
7. Choice is an important element in the basic economic problem because
A limited economic resources have many alternative uses
B wants increase with income
C scarce economic resources are distributed equally
D high demand leads to higher market prices
8. Which one of the following is best described as a normative statement?
A A reduction in spending on the NHS will result in some job losses
B A reduction in health care spending will have most impact on lower income households
C Free health care should be provided to everyone free at the point of consumption and not based on ability to pay
D Extra funding for the NHS may involve some switching of spending from other services
9. Which one of the following is a normative economic statement?
A The government regards health care as a merit good
B Building a new hospital involves an opportunity cost
C Some medicinal drugs are ineffective
D The government should spend more on the health service
10. Which of the following is a measure of productivity?
A The amount produced
B The percentage increase in employment
C The quantity of capital employed
D Output divided by employment
答案是：
ADCBC CACDD
1. Which one of the following is a positive economic statement?
A the extent of income inequality in the United Kingdom has increased over the last 30 years
B the rate of unemployment is too high
C the national minimum wage rate should be increased to £5 per hour for all workers
D nurses working the national health service should be on a maximum working week of 50 hours per week
2. Which one of the following is an example of a 'normative economic statement'?
A Most firms seek to maximise their market share
B Prices in a competitive market are likely to be lower than under a pure monopoly
C Increased consumer spending on new cars will lead to a rise in traffic congestion
D The government should increase the taxation on goods which harm the environment
3. Which economic concept is illustrated by the shape of the production possibility frontier shown in the diagram above?
A The theory of demand
B Economic growth
C The law of diminishing marginal returns
D The law of economies of scale
4. The opportunity cost to society of constructing a new motorway would be
A The other goods and services which labour employed constructing the road could produce
B The other goods and services that would be produced if the motorway were not built
C The financial cost of the road
D The loss of farmland and natural habitat used in order to build the road
5. In a market-based economy the scarcity of factors of production means that
A The economy cannot achieve economic growth every year
B The economy cannot produce on its production possibility frontier
C Consumers must inevitably consider the opportunity cost of their choices
D Inflation is inevitable
6. A reallocation of resources within an economy from A to B shown in the PPF diagram above is likely to lead to
A An increase in the demand for consumption goods
B A short term rise in production of consumer goods and a fall in demand for investment goods
C A short term fall in production of consumer goods but a long term rise in an economy's productive potential
D A decrease in demand for workers employed in producing capital goods
7. Choice is an important element in the basic economic problem because
A limited economic resources have many alternative uses
B wants increase with income
C scarce economic resources are distributed equally
D high demand leads to higher market prices
8. Which one of the following is best described as a normative statement?
A A reduction in spending on the NHS will result in some job losses
B A reduction in health care spending will have most impact on lower income households
C Free health care should be provided to everyone free at the point of consumption and not based on ability to pay
D Extra funding for the NHS may involve some switching of spending from other services
9. Which one of the following is a normative economic statement?
A The government regards health care as a merit good
B Building a new hospital involves an opportunity cost
C Some medicinal drugs are ineffective
D The government should spend more on the health service
10. Which of the following is a measure of productivity?
A The amount produced
B The percentage increase in employment
C The quantity of capital employed
D Output divided by employment
答案是：
ADCBC CACDD
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