exeCh1.docx

exeCh1.docx

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exeCh1

AdditionalExerciseforChapter1

1.Whenyouareinvolvedinasocialprocessthatinvolvestheassemblyanduseof____tocreategoodsandservicescapableofsatisfyingsocialneedsandwants,whatyouaredoingis_______.

A）productiveresources...business

B）basicoutputs...economics

C）productiveprocess...management

D）capital...control

2.WhichofthefollowingisNOTincludedintheconceptofcapital?

A）distributingfacilitiesB）services

C）toolsD）transportation

3.Thereturnthatbusinessownersreceiveforassemblingthebasicinputsandtakingrisksofbusinessownershipisknownas______.

A）profitB）fringebenefits

C）rentD）interest

4.Thewayinwhichworkersareallowedtofocusalltheireffortsononespecificworkratherthanonseveraltasksisknownas______.

A）massproductionB）specification

C）specializationD）automation

5.Themostimportanttrendofthe1980sinU.S.businessworldis__________,particularlyintheformofhostiletakeovers.

A）mergersB）laborunions

C）computerizationD）consumerpreference

6.WhichofthefollowingisnotthemajoreconomicgoaloftheU.S.?

A）economicfreedomB）economicgrowth

C）utilitymaximizationD）pricestability

7.Industrialinwhichafewfirmsproducemostoralloftheoutputofaproductandinwhichlargecapitalrequirementsorotherfactorskeepoutmanyfirmsare_______.

A）oligopoliesB）monopolisticcompetition

C）socialismD）communism

8.EconomicgrowthisoftenindicatedbyallofthefollowingfactorsEXCEPT________.

A）grossnationalproductB）pricestability

C）nationalincomeD）personalincome

9.Tobeexactly,pricestabilityismainlymeasuredby_____.

A）consumerpriceindexB）inflation

C）stagflationD）purchasingpower

10.Toknowhowwellaneconomicsystemisperformed,whichofthefollowingfactorsneedn'ttobetakenintoconsideration?

A）GNPB）Leadingeconomicindicators

C）StandardoflivingD）Unemploymentrate

11.Whichofthefollowingisdefinedasameasureofoutputperunitoftimeperworker?

A）productivityB）efficiency

C）accountabilityD）effectiveness

12.Themarketstructurecharacterizedbybarrierstoentryisdefinedas__________.

A）perfectcompetitionB）puremonopolyC）oligopolyD）monopolisticcompetition

13.Ifagovernmentownsthecommunications,transportation,utilitiesindustries,andsomeofthenatural-resourceindustrieswhilemostotheractivitiesiscarriedonbyprivateenterprises,theeconomicsystemofthecountryisthatof_______________.

A）socialismB）communism

C）capitalismD）mixedeconomy

14.Whichofthefollowingiswrongabouttheunderstandingofthetermbusiness?

A）Businessmakesuseoffourproductiveresources.

B）Businessinvolvesinprovidinggoodsandservicesneededordesiredbypeople.

C）Ahealthybusinessworldprovidesmoreincomeandalowerstandardoflivingforallpeople.

D）Theoutputsofbusinessactivitiescanbeeithertangibleorintangible.

15.TheconsequencesoftheIndustrialRevolutionincludeallofthefollowingexcept_______.

A）massproductionB）specialization

C）automationD）assemblyline

16.Consumersalwaystryto_______satisfactionbychoosingamongthethingsthatpleasethemmost.

A）maximizeB）minimize

C）reduceD）appropriate

17.__isthepersonalincomeminuspersonaltaxes.

A）investmentincomeB）moneyincome

C）personalincomeD）disposableincome

18.Ageneralupwardmovementofpricesordownwardmovementofpurchasingpoweris___.

A）inflationB）boom

C）prosperityD）depreciation

19.Inthe1970sandveryearly1980s,theU.S.economyexperienced______.

A）stagflationB）fullemployment

C）industrialrevolutionD）mergerera

20._____arelegalentitiesestablishedbythelawsasartificialbeing,invisible,intangible,andexistingonlyincontemplationofthelaw.

A）PartnershipsB）Soleproprietorships

C）CorporationsD）JointVentures

21.Ifthemergingcompaniesperformessentiallythesamefunctionsinthesameindustry,themergeriscalleda________________.

A）horizontalmergerB）verticalmergerC）conglomerateD）takeover

22._______arethejoiningtogetheroftwofirmsinwhichoneofthem（usuallythelarger）takesovertheother,causingittoloseitsidentity.

A）takeoversB）mergers

C）BusinessCombinationsD）acquisitions

23.Whichofthefollowingdoesnotbelongtotheadvantagesofcorporations?

A）Ownersofcorporationsaren’trequiredtopayincometaxesontheprofitsoftheiractivities.

B）Thecorporationisalegalentitythatexistsseparatefromitsowners.

C）Transferofownershipdoesn’tterminatethecorporation.

D）.Thelifeofcorporationsisunlimited.

24.ThemergerofCoca-ColaandColumbiaPicturesisanexampleof______

A）conglomerateB）combination

C）hostiletakeoverD）shortgunmerger

25.Easeoftransferabilityofownershipisoneoftheadvantagesof______

A）soleproprietorshipsB）corporation

C）partnershipD）cooperative

26.Themajorpurposeofcooperativesis_______.

A）formaximumpossibleprofits

B）togeneratesufficientrevenuesfortheowners

C）tosatisfythecustomer’sneedstothepossibleextent

D）toachievemutualbenefits

27.Publicinvolvementinquasi-publiccorporationsusuallyderivesfromsomeaspectsofthebusinessthatis__________.

A）unappealingtoprivateinvestors

B）appealingtoprivateinvestors

C）substantialcapitalrequirementsthatwouldbeforthcomingimmediatelyandeasily.

D）risksconcerned.

AdditionalWords

Acceleratorprinciple加速原理

Aggregatedemand总需求

Aggregatedemand（AD）curve总需求曲线

Aggregatesupply总供给

Aggregatesupply（AS）curve总供给曲线

Demandcurve（ordemandschedule）需求曲线（或需求表）

Price-elasticityofdemand需求的价格弹性

Price-elasticityofsupply供给的价格弹性

Incomeelasticityofdemand需求的收入弹性

Resourceallocation资源配置

Allocativeefficiency配置效率

Averagepropensitytoconsume平均消费倾向

Averagerevenue平均收益

Barrierstoentry进入壁垒

Break-evenpoint（inmacroeconomics）（宏观经济学中的）收支相抵点

Zero-profit-point零利润点

Businesscycles商业周期

Coasetheorem科斯定理

Collusiveoligopoly寡头勾结垄断

Competitiveequilibrium竞争均衡

Competitivemarket竞争性市场

Complements互补品

Constantreturnstoscale规模报酬不变

Decreasingreturnstoscale规模报酬递减

Consumersurplus消费者剩余

Crowding-outhypothesis挤出（效应）假说

Diminishingmarginalutility，lawof边际效用递减规律

Economiesofscale规模经济

Externaldiseconomies外部不经济

Externaleconomies外部经济

Externalities外部性

Gametheory博弈论

Generalequilibriumanalysis一般均衡分析

Partialequilibriumanalysis局部均衡分析

Indifferencecurve无差异曲线

Indifferencemap无差异曲线图

Infantindustry幼稚产业

Intellectualpropertyrights知识产权

Invisiblehand看不见的手

Laborsupply劳动供给

Labortheoryofvalue劳动价值论

Marginalprinciple边际原则

Marginalpropensityofconsume（MPC）边际消费倾向

Marginalrevenue（MR）边际收益

Marginalutility（MU）边际效用

Marketfailure市场失灵

Opportunitycost机会成本

Paretoefficiency（orParetooptimality）帕累托效率（或帕累托最优）

Phillipscurve菲利普斯曲线

Returnstoscale规模收益

Substitutionrule替代原则

Welfareeconomics福利经济学

KeytoExercises

Exe.1

1.factorsofproduction;basicoutputs

2.factormarkets,output

3.Economics;profitmaximization

4.soleproprietorships,partnerships,corporations;quasi-publiccorporations,cooperatives

5.generalpartnerships,limitedpartnerships,jointventures

6.lawofdemand;lawofsupply

7.economicgrowth,fullemployment,pricestability

8.horizontalmerger,verticalmerger,conglomerate

Exe.2

1.周期性失业

2.主要经济指标

3.景气指数

4.管理技术

5.物价总体水平

6.垄断性竞争

7.零售业

8.生产资料，资本货物

9.成本推动型通货膨胀

10.计划经济

11.fullemployment

12.structuralunemployment

13.profitmaximization

14.grocerymarket

15.quasi-publiccorporation

16.grossnationalproduct

17.horizontalmerger

18.proprietorincome

19.stagflation

20.purchasingpower

Exe.3

1.Profitmaximizationisthebasicgoalofallcorporationsandbusinesses.Failuretodothiswillresultinthefailuretoachieveotherobjectives.

2.Asakindofbusinessorganization,theadvantagesoflistedcompaniesrestintheireaseofobtainingadditionalcapital,stabilityofexistenceandlimitedliabilityincaseofbankruptcy.Smallbusinessescanbefoundinagriculture,services,wholesaleandretailtrade,manufacturingandconstruction,withsoleproprietorshipsandpartnershipsastheirbasicformsoforganization.

3.Economicscanbedividedintomacroeconomicsandmicroeconomics,mainlystudyinghowpeopleusescarceresourcestoproduceanddistributegoodsandservices.

Exe.4

1.经济增长可以用国民生产总值、国民收入、个人收入和个人可支配收入等衡量。

国民生产总值指一年内创造的所有商品和服务的货币价值。

用国民收入衡量经济活动，是把工资、薪水、租金、利息、公司以及非公司制企业的账面利润加总而得。

个人收入指家庭所获得的总收入。

个人可支配收入是个人收入减去个人所得税后的余额。

2.独资企业的优点有：

成立容易、成本低，业主享有所有利润，业主可以直接控制企业，受政府管制少，不需交纳企业税，解散容易。

缺点有：

业主对债务承担无限责任，筹资困难，缺少管理技术，企业的存在不稳定，难以吸引优秀人才，业主个人要承受所有损失。

3.公司创立者指组织成立公司的人。

股东即业主。

他们可以获得股息，并可以在任何时候出售或转让所拥有的股份。

他们有权参加公司的年会，选举董事会。

董事会是公司的权力机构。

公司高管是公司的高级雇员，他们负责公司的日常经营活动。