Kinh tế học - Ôn tập Week 2 và Week 3 (lợi thế so sánh, cung cầu)
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Câu 1. In the U.S., producing 1 airplane takes 500 labor hours and 1 ton of soybeans takes 10 labor hours. What is the opportunity cost of producing 1 airplane in the U.S.?
- A. 100 tons of soybeans
- B. 500 tons of soybeans
- C. 10 tons of soybeans
- D. 50 tons of soybeans
Câu 2. The ability to produce a good using fewer inputs than another producer is known as:
- A. The Production Possibilities Frontier
- B. Comparative Advantage
- C. Opportunity Cost
- D. Absolute Advantage
Câu 3. The Production Possibilities Frontier (PPF) illustrates the principle of:
- A. How trade makes everyone better off
- B. Economic growth
- C. Trade-offs and opportunity cost
- D. Absolute advantage
Câu 4. For a mutually beneficial trade to occur between two countries, the price of the trade must lie:
- A. Below both countries' opportunity costs.
- B. Exactly at the higher opportunity cost.
- C. Above both countries' opportunity costs.
- D. Between the two countries' opportunity costs.
Câu 5. If a country chooses to be self-sufficient, its production possibilities frontier is also its:
- A. Import-export balance line
- B. Absolute advantage curve
- C. Consumption possibilities frontier
- D. Trade negotiation curve
Câu 6. According to the textbook, the gains from trade are based on:
- A. Absolute advantage
- B. Self-sufficiency
- C. Comparative advantage
- D. The number of labor hours available
Câu 7. A country will typically import goods in which:
- A. it has an absolute advantage.
- B. other countries have a comparative advantage.
- C. it has a comparative advantage.
- D. other countries have an absolute advantage.
Câu 8. In Japan, producing 1 airplane takes 625 labor hours and 1 ton of soybeans takes 25 labor hours. What is the opportunity cost of producing 1 airplane in Japan?
- A. 100 tons of soybeans
- B. 25 tons of soybeans
- C. 48 tons of soybeans
Câu 9. If the U.S. has an absolute advantage in producing both airplanes and soybeans compared to Japan, why should it still trade with Japan?
- A. It shouldn't; a country with an absolute advantage in all goods does not gain from trade.
- B. Because the U.S. cannot produce enough goods for its citizens.
- C. To be politically friendly with Japan.
- D. Because Japan may still have a comparative advantage in one of the goods.
Câu 10. In the example provided, the U.S. economy has 50,000 labor hours. If producing one airplane requires 500 labor hours, what is the maximum number of airplanes the U.S. can produce?
- A. 5,000 airplanes
- B. 500 airplanes
- C. 50 airplanes
- D. 100 airplanes
Câu 11. In the example of Argentina and Brazil, Brazil can produce 1 lb. of coffee in 1 hour, while Argentina takes 2 hours. Brazil has a(n) _______ in coffee production.
- A. comparative advantage
- B. opportunity cost
- C. absolute advantage
- D. specialization
Câu 12. A technological improvement that reduces the cost of producing a good will cause the:
- A. demand curve to shift to the right.
- B. supply curve to shift to the left.
- C. demand curve to shift to the left.
- D. supply curve to shift to the right.
Câu 13. Suppose that when people's incomes decrease, the demand for bus rides increases. In this case, bus rides are:
- A. a normal good.
- B. a substitute good.
- C. a luxury good.
- D. an inferior good.
Câu 14. What will happen to the equilibrium price and quantity in the market for new cars if the price of gasoline (a complement) rises and the price of steel (an input) rises?
- A. Equilibrium quantity will fall; the effect on price is ambiguous.
- B. Equilibrium quantity will rise; the effect on price is ambiguous.
- C. Equilibrium price will rise; the effect on quantity is ambiguous.
- D. Equilibrium price will fall; the effect on quantity is ambiguous.
Câu 15. Which of the following events would cause a movement upward and to the left along the demand curve for oranges?
- A. The price of orange juice, a substitute, falls.
- B. A new scientific study reveals oranges are bad for your health.
- C. The price of oranges rises.
- D. Consumer income falls, and oranges are a normal good.
Câu 16. What happens in the market for orange juice if the price of apples (a substitute) increases, and a new, more efficient orange-harvesting machine is invented?
- A. The equilibrium quantity will fall, and the effect on price is ambiguous.
- B. The equilibrium price will rise, and the effect on quantity is ambiguous.
- C. The equilibrium price will fall, and the effect on quantity is ambiguous.
- D. The equilibrium quantity will rise, and the effect on price is ambiguous.
Câu 17. If coffee and tea are substitutes, a decrease in the price of coffee will cause:
- A. the demand curve for tea to shift to the right.
- B. a movement down along the demand curve for tea.
- C. the demand curve for tea to shift to the left.
- D. a movement up along the demand curve for tea.
Câu 18. The law of demand states that, other things equal, when the price of a good rises, the...
- A. demand for the good falls.
- B. demand for the good rises.
- C. quantity demanded of the good rises.
- D. quantity demanded of the good falls.
Câu 19. If smartphones and phone cases are complements, a significant increase in the price of smartphones will:
- A. increase the demand for phone cases.
- B. decrease the demand for phone cases.
- C. increase the quantity demanded of phone cases.
- D. have no effect on the market for phone cases.
Câu 20. If an increase in consumer income leads to an increase in the demand for a good, then the good is considered a(n):
- A. normal good.
- B. complement good.
- C. inferior good.
- D. substitute good.
Câu 21. Which of the following is a key characteristic of a perfectly competitive market?
- A. The goods offered for sale are all exactly the same.
- B. There is only one seller.
- C. Buyers have very different tastes and preferences.
- D. Firms have significant control over the market price.
Câu 22. Market equilibrium is the point where:
- A. quantity demanded equals quantity supplied.
- B. quantity supplied exceeds quantity demanded.
- C. the price is the lowest possible.
- D. the government sets the price.
Câu 23. A market is best defined as:
- A. a specific physical location where people trade goods.
- B. a place where only sellers are present.
- C. an organization controlled by a single firm.
- D. a group of buyers and sellers of a particular good or service.
Câu 24. A surplus exists in a market when the current price is:
- A. set by the government, regardless of equilibrium.
- B. above the equilibrium price.
- C. below the equilibrium price.
- D. equal to the equilibrium price.
Câu 25. The law of supply indicates that, other things equal, producers are willing to:
- A. sell more of a product at a higher price than at a lower price.
- B. sell more of a product at a lower price than at a higher price.
- C. ignore price changes when deciding how much to sell.
- D. sell the same amount regardless of the price.
… và còn 31 câu nữa. Bấm Vào thi phía trên để làm toàn bộ 56 câu và xem đáp án.
