答案和详解如下： 1.Consider the following two final consumer goods: Good W requires the inputs of raw material R and intermediate goods S and T.
Good X requires the inputs of raw material R and intermediate goods U and V. If demand for Good W increases and demand for Good X decreases, which of the following outcomes is least likely? A) Some of raw material R will be diverted away from the producers of Good X. B) The price of Good U will decrease and the price of Good S will increase. C) Fewer resources will be allocated to producing Good V. D) More resources will be devoted to producing Good W and less to producing Good T. The correct answer was D) If demand for Good W increases and demand for Good X decreases, the market will allocate more resources to producing Good W and the goods that go into producing Good W (that is, Good S and Good T), and less to producing Good X and the goods that go into producing Good X (that is, Good U and Good V). Changes in the relative prices of all these goods are the signal that tells their producers where to direct resources. Prices will increase for goods W, S and T while prices decrease for Goods X, U and V. 2.According to the “invisible hand” principle, which of the following statements is least accurate? A) Competitive markets produce an optimal basket of goods and services. B) Efficient allocation of productive resources occurs through competition. C) The authority of the state, although not seen, must always be present in the market. D) Producers serve society’s interest by serving their own self-interest. The correct answer was C) The “invisible hand” to which Adam Smith referred in The Wealth of Nations did not include any legal authority. Rather, Smith was describing the way that individual producers serve society’s interest by competing with one another to produce the goods and services that are valued most highly by final consumers, even though the producers do not have society’s interest explicitly in mind. 3.Fred Heyach and Gord Murdoll are discussing whether or not competitive markets use resources efficiently. Heyach says, “Competition must lead to the efficient allocation of resources. Consumers are willing to pay more for the goods they want most, so producers of those goods can outbid other producers for the resources to make them.” Murdoll replies, “At any one point in time the market might allocate resources efficiently given consumers’ preferences, but as consumers change their minds about which goods they want, the allocation of resources becomes inefficient.” Are these statements correct or incorrect?
A)
Correct Incorrect B)
Incorrect Correct C)
Incorrect Incorrect D)
Correct Correct The correct answer was A) Heyach’s statement is correct but Murdoll’s statement is incorrect. Competitive forces adjust the allocation of resources to changes in consumer preferences. If consumers’ demand for a product decreases, the resources that were being used to produce it are diverted to the production of other goods that are in greater demand. 4.Matthew Reeves is listening to a discussion on how resources move to the most efficient allocation. Two of the participants make these statements: Statement 1: When resources are diverted from beer production to wine production, this represents an inefficient allocation from the perspective of the beer producers. Statement 2: Market allocation of resources tends toward efficiency because the value of what a resource can produce determines its allocation in production. Should Reeves agree or disagree with these statements?
A)
Disagree Agree B)
Agree Agree C)
Agree Disagree D)
Disagree Disagree The correct answer was A) Reeves should disagree with Statement 1. In the competitive market, resources are diverted away from goods for which final consumer demand is decreasing, and toward the production of goods for which final consumer demand is increasing. If the market is diverting resources from producing beer to producing wine, it is because consumers have changed their decisions and begun offering more money for wine and less for beer. This means beer brewers are producing more than consumers demand and generating losses on the excess production. They will maximize their profits by reducing their production and using fewer resources. Thus, the new allocation of resources is efficient even from the point of view of the beer producers. Reeves should agree with Statement 2. The market constantly reallocates productive resources to uses where what they produce is valued more by final consumers, and removing them from uses where what they produce is valued less. When there are no obstacles, resources are always moving toward their most efficient (value maximizing) allocations. | 
发表于 2008-4-8 12:08
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