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1、Mid-termcheckingproblemsofIntermediateEconomicsAnswerSheet1.MultipleChoices(20×2=40)(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)ACBBCDBAAD(11)(12)(13)(14)(15)(16)(17)(18)(19)(20)BABADABCBC2.TrueorFalse(15×1=15)(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)FTFTFFTTFT(11)(12)(13)(14)(15)TTF
2、FT1.MultipleChoices(20×2=40)(1)Ifshespendsallofherincomeonlemonsandtangerines,Isabellacanjustafford30lemonsand8tangerinesperday.Shecouldalsouseherentirebudgettobuy6lemonsand14tangerinesperday.Thepriceoflemonsis6guineaseach.HowmuchisIsabella'sincomeperday?(a)372
3、guineas(b)377guineas(c)371guineas(d)363guineas(2)Inyear1,thepriceofgoodxwas1,thepriceofgoodywas1,andincomewas30.Inyear2,thepriceofxwas6,thepriceofgoodywas5,andincomewas30.Onagraphwithxonthehorizontalaxisandyonthevertical,thenewbudgetlineis:(a)flatterthantheoldo
4、neandliesbelowit.(b)flatterthantheoldoneandliesaboveit.(c)steeperthantheoldoneandliesbelowit.(d)steeperthantheoldoneandliesaboveit.(3)Fannyconsumesgoodsxandy.Herindifferencecurvesaredescribedbytheformulay=k/(x+7).Highervaluesofkcorrespondtobetterindifferencecur
5、ves.Whichofthefollowingistrue?(a)Fannylikesgoodyandhatesgoodx.(b)Fannyprefersbundle(8,9)tobundle(9,8).(c)Fannyprefersbundle(9,5)tobundle(5,9).(d)Fannylikesgoodxandhatesgoody.(4)Manuelconsumesonlyapplesandbananas.Heprefersmoreapplestoless,buthegetstiredofbananas
6、.Ifheconsumesfewerthan17bananasperweek,hethinksthatonebananaisaperfectsubstituteforoneapple.Butyouwouldhavetopayhimoneappleforeachbananabeyond17thatheconsumes.Theindifferencecurvethatpassesthroughtheconsumptionbundlewith25applesand26bananasalsopassesthroughtheb
7、undlewithAapplesand11bananas,whereAequals:(a)21(b)22(c)24(d)26(5)Chenhaspreferencesrepresentedbytheutilityfunction:U(x,y)=.Ifxisonthehorizontalaxisandyisontheverticalaxis,whatistheslopeofhisindifferencecurveatthepoint(9,4)?(a)Theslopeis-4.(b)Theslopeis-6/4.(c)T
8、heslopeis-1/6(d)Theslopeis-1/4.(6)Raymond'spreferencesarerepresentedbytheutilityfunctionU(x;y)=x=yify>0andU(x;y)=0ify=0.(a)Raymondhasindifferencecurvesthatarerectangularhype
