1、TEST BANKINTRODUCTIONThe following Test Bank contains more than 300 multiple-choice questions on Chapters 321 of Microeconomic Theory: Basic Principles and Extensions, Ninth Edition. Consistent with the limitations of this format, these questions are generally easier and somewhat less mathematical t

2、han are the problems in the text. Still, the multiple-choice questions are probably a bit more analytical than is usual for assessments of this type. But the questions clearly are not intended to substitute for the problems but rather to serve as a device for instructors to offer students some conve

3、nient review or quiz materials.Chapter 3Preferences and Utility1.Indifference curvesa.are nonintersecting.b.are contour lines of a utility function.c.are negatively sloped.*d.all of the above.2.For an individual who consumes only two goods, x and y, the opportunity cost of consuming one more unit of

4、 X in terms of how much Y must be given up is reflected bya.the individuals marginal rate of substitution.*b.the market prices of x and y.c.the slope of the individuals indifference curve.d.none of the above.3.If bundles of goods A and B lie on the same indifference curve, one can assume the individ

5、ual a.prefers bundle A to bundle B.b.prefers bundle B to bundle A.*c.enjoys bundle A and B equally.d.bundle A contains the same goods as bundle B.Questions 4 and 5 refer to an individual whose utility function is given by U(x, y) = 4x + 2y4.With this utility function, the bundle (3, 2) provides the

6、same utility as the bundlea.(2, 3).*b.(2, 4).c.(2, 5).d.(3, 3).5.For this utility function, the MRSa.depends on the values of x and y.b.is always 0.*c.is always 2.d.is always 4.6.Which of the following utility functions represent the same preferences as ?a. .b.U(x, y) = x y.c.U(x, y) = lnx + lny.*d.

7、All of the above represent the same preferences.7.If utility is given by , then the persons MRS at the point x = 5, y = 2 is given by*a.0.4.b.1.0.c.2.5.d.5.0.8.If utility is given by , this persons indifference curves area.parabolas.b.hyperbolas.c.concentric circles.*d.straight lines.9.Which of the

8、following utility functions best represents the idea that two goods, x and y, are perfect complements?a.b.U(x, y) = x + y.c.*d.U(x, y) = min(x, y).10.If an individuals utility function is quasiconcave, his or her MRS will*a.diminish as x is substituted for y.b.increase as x is substituted for y.c.be undefined except in special cases.d.always depend only on the ratio of x to y.11.If utility is given by U(x, y) = Min (x, 3y) then the bundle (3,2) provides the same utility as the bundlea.(1, 3).b.(2, 3).*c.(4, 1).d.(4, 2).12.Which of the following utility functions would no