1、35Chapter 2Thinking Like an EconomistMultiple Choice1. Which of the following terms are most closely associated with the study of economics?a. force and accelerationb. torts and venuesc. ego and cognitive dissonanced. comparative advantage and deadweight lossANS: D PTS: 1 DIF: 2 REF: 2-0TOP: Economi
2、stsMSC: Interpretive2. Economists, like mathematicians, physicists, and psychologists,a. make use of the scientific method.b. make use of their own language.c. devise theories, and collect and analyze data.d. All of the above are correct.ANS: D PTS: 1 DIF: 1 REF: 2-1TOP: Economists | Scientific meth
3、od MSC: Interpretive3. With respect to how economists study the economy, which of the following statements is most accurate?a. Economists study the past, but they do not try to predict the future.b. Economists use “rules of thumb” to predict the future.c. Economists devise theories, collect data, an
4、d analyze the data to test the theories.d. Economists use controlled experiments in much the same way that biologists and physicists do.ANS: C PTS: 1 DIF: 2 REF: 2-1TOP: EconomistsMSC: Interpretive4. By scientific method we meana. the use of modern electronic testing equipment to understand the worl
5、d.b. the dispassionate development and testing of theories about how the world works.c. the use of controlled laboratory experiments to understand the way the world works.d. finding evidence to support preconceived theories about how the world works.ANS: B PTS: 1 DIF: 2 REF: 2-1TOP: Scientific metho
6、d MSC: Definitional5. Who said, “The whole of science is nothing more than the refinement of everyday thinking?“a. Isaac Newtonb. Albert Einsteinc. Sigmund Freudd. Benjamin FranklinANS: B PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: Definitional6. Albert Einstein once made the following observa
7、tion about science:a. “The whole of science is nothing more than the refinement of everyday thinking.“b. “The whole of science is nothing more than an interesting intellectual exercise.“c. “In order to understand science, one must rely solely on abstraction.“d. “In order to understand science, one m
8、ust transcend everyday thinking.“ANS: A PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: Definitional7. Sir Isaac Newtons development of the theory of gravity after observing an apple fall from a tree is an example ofa. controlled experiments that lead to the formulation of scientific theories.b. b
9、eing in the right place at the right time.c. an idea whose time had come.d. the interplay between observation and theory in science.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive36 Chapter 2/Thinking Like an Economist8. Which of the following statements applies to economics, a
10、s well as to other sciences such as physics?a. Experiments are considered valid only when they are conducted in a laboratory.b. Good theories do not need to be tested.c. Real-world observations often lead to theories.d. Economics, as well as other sciences, are concerned primarily with abstract conc
11、epts.ANS: C PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive9. The use of theory and observation is more difficult in economics than in sciences such as physics due to the difficulty ina. performing an experiment in an economic system.b. applying mathematical methods to economic analys
12、is.c. analyzing available data.d. formulating theories about economic events.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive10. Which of the following statements is true?a. Economists almost always find it easy to conduct experiments in order to test their theories.b. Economics
13、 is not a true science because economists are not usually allowed to conduct experiments to test their theories.c. Economics is a social science rather than a true science because it cannot employ the scientific method.d. Economists are usually not allowed to conduct experiments, and so they must re
14、ly on natural experiments offered by history.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive11. Because it is difficult for economists to use experiments to generate data, they generally musta. do without data.b. substitute assumptions for data when data are unavailable.c. rely
15、 upon hypothetical data that were previously concocted by other economists.d. use whatever data the world gives them.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive12. Economists regard events from the past asa. irrelevant, since history is unlikely to repeat itself.b. of limit
16、ed interest, since those events seldom provide any useful economic data.c. interesting but not particularly valuable, since those events cannot be used to evaluate present-day economic theories.d. interesting and valuable, because those events are capable of helping us to understand the past, the pr
17、esent, and the future.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Economists | Scientific method MSC: Interpretive13. Which of the following statements is (are) correct?a. Relative to other scientists, economists find it more difficult to generate useful data.b. Theory and observation are important in economi
18、cs as well as in other sciences.c. To obtain data, economists often rely upon the natural experiments offered by history.d. All of the above are correct.ANS: D PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: Interpretive14. The most common data for testing economic theories come froma. carefully c
19、ontrolled and conducted laboratory experiments.b. traditional economies.c. historical episodes of economic change.d. centrally planned economies.ANS: C PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: InterpretiveChapter 2/Thinking Like an Economist 3715. In conducting their research, economists fa
20、ce an obstacle that not all scientists face; specifically, in economics, it is difficult toa. make use of theory and observation.b. rely upon the scientific method.c. conduct laboratory experiments.d. find articles or books that were written before 1900.ANS: C PTS: 1 DIF: 1 REF: 2-1TOP: Scientific m
21、ethod MSC: Definitional16. In conducting their research, economists often substitute historical events and historical episodes fora. theories and observations.b. laboratory experiments.c. models.d. assumptions.ANS: B PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: Definitional17. For economists, s
22、ubstitutes for laboratory experiments often come in the form ofa. natural experiments offered by history.b. untested theories.c. “rules of thumb” and other such conveniences.d. reliance upon the wisdom of elders in the economics profession.ANS: A PTS: 1 DIF: 1 REF: 2-1TOP: Scientific method MSC: Int
23、erpretive18. Economists make assumptions in order toa. mimic the methodologies employed by other scientists.b. minimize the number of experiments that yield no useful data.c. minimize the likelihood that some aspect of the problem at hand is being overlooked.d. focus their thinking on the essence of
24、 the problem at hand.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions MSC: Interpretive19. The art in scientific thinking - whether in chemistry, economics, or psychology - is a. the design and implementation of laboratory experiments.b. knowing when to stop collecting data and when to start analyzing
25、the data.c. deciding which assumptions to make.d. being able to mathematically model natural phenomena.ANS: C PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions | Scientific method MSC: Interpretive20. An economic theory about international trade that is based on the assumption that there are only two countries
26、 and two goodsa. can be useful in helping economists understand the complex world of international trade involving many countries and many goods.b. is useless, since the real world has many countries trading many goods.c. can be useful only in situations involving two countries and two goods.d. can
27、be useful in the classroom, but is useless in the real world.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions MSC: Interpretive21. The 1973 war in the Middle East provided economists with the opportunity to observe the negative relationship betweena. oil prices and living standards.b. military buildups
28、 and government spending.c. the flow of crude oil and living standards.d. the flow of crude oil and political power.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive38 Chapter 2/Thinking Like an Economist22. Historical episodes are a. valuable to economists, primarily because the
29、y allow economists to see how the science of economics has evolved.b. valuable to economists, primarily because they allow economists to evaluate economic theories of the present.c. not of concern to economists, since economics is about predicting the future; economics is not about dwelling on the p
30、ast.d. not of concern to economists, since the exact circumstances of historical episodes are unlikely to be observed again.ANS: B PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive23. The goal of an economist who formulates new theories is to a. provide an interesting framework of analy
31、sis, whether or not the framework turns out to be of much use in understanding how the world works.b. provoke stimulating debate in scientific journals.c. demonstrate that economists, like other scientists, can formulate testable theories. d. contribute to an understanding of how the world works.ANS
32、: D PTS: 1 DIF: 2 REF: 2-1TOP: Scientific method MSC: Interpretive24. One thing economists do to help them understand how the real world works is as follows: a. They make assumptions.b. They ignore the past.c. They try to capture every aspect of the real world in the models they construct.d. All of
33、the above are correct.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions | Scientific method MSC: Interpretive25. For an economist, the idea of making assumptions is regarded generally as aa. bad idea, since doing so leads to the omission of important ideas and variables from economic models.b. bad idea,
34、 since doing so invariably leads to data-collection problems.c. good idea, since doing so helps to simplify the complex world and make it easier to understand.d. good idea, since economic analysis without assumptions leads to complicated results that the general public finds hard to understand.ANS:
35、C PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions MSC: Interpretive26. Which of the following statements is true?a. Few economic models incorporate assumptions.b. Different economic models employ different sets of assumptions.c. Good economic models should attempt to mimic reality as closely as possible.d. E
36、conomic models, to be accepted, must be tested by conducting experiments.ANS: B PTS: 1 DIF: 2 REF: 2-1TOP: Economic models | Assumptions MSC: Interpretive27. The decision of which assumptions to make isa. an easy decision for an economist, but a difficult decision for a physicist or a chemist.b. not
37、 a particularly important decision for an economist.c. usually regarded as an art in scientific thinking.d. usually regarded as the easiest part of the scientific method.ANS: C PTS: 1 DIF: 2 REF: 2-1TOP: Assumptions MSC: Interpretive28. The art in scientific thinking isa. finding the right problem t
38、o study.b. deciding which assumptions to make.c. the ability to make an abstract subject easy to understand.d. not something in which economists have to be skilled.ANS: B PTS: 1 DIF: 1 REF: 2-1TOP: Assumptions | Scientific method MSC: InterpretiveChapter 2/Thinking Like an Economist 3929. Economists
39、 make use of assumptions, some of which are unrealistic, for the purpose ofa. teaching economics to people who have never before studied economics.b. advancing their political agendas.c. developing models when the scientific method cannot be used.d. focusing their thinking.ANS: D PTS: 1 DIF: 2 REF:
40、2-1TOP: Assumptions MSC: Interpretive30. An example of a price that changes only infrequently is the price ofa. stocks on the New York Stock Exchange.b. crude oil.c. residential real estate.d. magazines sold at newsstands.ANS: D PTS: 1 DIF: 1 REF: 2-1TOP: Assumptions | Prices MSC: Definitional31. Wh
41、en studying the effects of changes in public policy, economists believe thata. it is important to distinguish between the short run and the long run.b. the assumptions used in studying those effects should be the same for the short run as for the long run.c. the short-run effects of those changes ar
42、e always more beneficial to society than are the long-run effects.d. the long-run effects of those changes are always more beneficial to society than are the short-run effects.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Public policy | Short run | Long run MSC: Interpretive32. When studying the effects of pub
43、lic policy changes, economistsa. always refrain from making assumptions.b. sometimes make different assumptions about the short run and the long run.c. consider only the direct effects of those policy changes and not the indirect effects.d. consider only the short-run effects of those policy changes
44、 and not the long-run effects.ANS: B PTS: 1 DIF: 2 REF: 2-1TOP: Public policy | Assumptions | Short run | Long run MSC: Interpretive33. Economic modelsa. cannot be useful if they are based on false assumptions.b. were once thought to be useful, but that is no longer true.c. must incorporate all aspe
45、cts of the economy if those models are to be useful.d. can be useful, even if they are not particularly realistic.ANS: D PTS: 1 DIF: 3 REF: 2-1TOP: Economic models MSC: Applicative34. Just like models constructed in other areas of science, economic modelsa. incorporate assumptions that contradict re
46、ality.b. incorporate all details about the real world.c. complicate reality.d. All of the above are correct.ANS: A PTS: 1 DIF: 2 REF: 2-1TOP: Economic models MSC: Interpretive35. In building economic models, economists often omit a. assumptions.b. theories.c. details.d. equations.ANS: C PTS: 1 DIF:
47、1 REF: 2-1TOP: Economic models MSC: Interpretive40 Chapter 2/Thinking Like an Economist36. Which types of models are built with assumptions?a. economic models, but not models in other disciplines such as physics and sociologyb. economic models as well as models in other disciplines such as physics a
48、nd sociologyc. models that are built for teaching purposes but not for research purposesd. No models are built with assumptions.ANS: B PTS: 1 DIF: 2 REF: 2-1TOP: Economic models | Assumptions MSC: Interpretive37. Economists build economic models bya. generating data.b. conducting controlled experime
49、nts in a lab.c. making assumptions.d. reviewing statistical forecasts.ANS: C PTS: 1 DIF: 2 REF: 2-1TOP: Economic models | Assumptions MSC: Interpretive38. A model can be accurately described as aa. theoretical abstraction with very little value.b. device that is useful only to the persons who created it.c. realistic and carefully constructed theory.d. simplification of reality.ANS: D PTS: 1 DIF: 2 REF: 2-1TOP: Economic models MSC: Interpretive39. Which of the following statements about models is correct?a. The more details a model includes, the better the model.b. Models assume aw
