经济学原理对应练习--24

1013Chapter24MeasuringtheCostofLivingMultipleChoice1.BabeRuth,thefamousbaseballplayer,earned$80,000in1931.Today,thebestbaseballplayerscanearnmorethan300timesasmuchasBabeRuthearnedin1931.However,pricesalsohaverisensince1931.Wecanconcludethata.thebestbaseballplayerstodayareabout300timesbetteroffthanBabeRuthwasin1931.b.becausepriceshaverisenalso,thestandardoflivingofbaseballstarshasn'tchangedsince1931.c.onecannotmakejudgmentsaboutchangesinthestandardoflivingbasedonchangesinpricesandchangesinincomes.d.onecannotdeterminewhetherbaseballstarstodayenjoyahigherstandardoflivingthanBabeRuthdidin1931withoutadditionalinformationregardingincreasesinpricessince1931.ANS:DPTS:1DIF:2REF:24-0TOP:Prices|StandardoflivingMSC:Interpretive2.Whentheconsumerpriceindexrises,thetypicalfamilya.hastospendmoredollarstomaintainthesamestandardofliving.b.canspendfewerdollarstomaintainthesamestandardofliving.c.findsthatitsstandardoflivingisnotaffected.d.canoffsettheeffectsofrisingpricesbysavingmore.ANS:APTS:1DIF:1REF:24-0TOP:Consumerpriceindex|StandardoflivingMSC:Interpretive3.Theconsumerpriceindexisusedtoa.trackchangesinthelevelofwholesalepricesintheeconomy.b.monitorchangesinthecostofliving.c.monitorchangesinthelevelofrealGDP.d.trackchangesinthestockmarket.ANS:BPTS:1DIF:1REF:24-0TOP:ConsumerpriceindexMSC:Interpretive4.Theconsumerpriceindexisusedtoa.differentiategrossnationalproductfromnetnationalproduct.b.turndollarfiguresintomeaningfulmeasuresofpurchasingpower.c.characterizethetypesofgoodsandservicesthatconsumerspurchase.d.measurethequantityofgoodsandservicesthattheeconomyproduces.ANS:BPTS:1DIF:1REF:24-0TOP:ConsumerpriceindexMSC:Interpretive5.Theterminflationisusedtodescribeasituationinwhicha.theoveralllevelofpricesintheeconomyisincreasing.b.incomesintheeconomyareincreasing.c.stock-marketpricesarerising.d.theeconomyisgrowingrapidly.ANS:APTS:1DIF:1REF:24-0TOP:InflationMSC:Definitional6.Economistsusetheterminflationtodescribeasituationinwhicha.somepricesarerisingfasterthanothers.b.theeconomy'soverallpricelevelisrising.c.theeconomy'soverallpricelevelishigh,butnotnecessarilyrising.d.theeconomy'soveralloutputofgoodsandservicesisrisingfasterthantheeconomy'soverallpricelevel.ANS:BPTS:1DIF:1REF:24-0TOP:InflationMSC:Definitional1014Chapter24/MeasuringtheCostofLiving7.Whentheoveralllevelofpricesintheeconomyisincreasing,wesaythattheeconomyisexperiencinga.economicgrowth.b.stagflation.c.inflation.d.deflation.ANS:CPTS:1DIF:1REF:24-0TOP:InflationMSC:Definitional8.Theinflationrateisdefinedasthea.pricelevel.b.changeinthepricelevelfromoneperiodtothenext.c.percentagechangeinthepricelevelfromthepreviousperiod.d.pricelevelminusthepricelevelfromthepreviousperiod.ANS:CPTS:1DIF:1REF:24-0TOP:InflationrateMSC:Definitional9.Theeconomy'sinflationrateisthea.pricelevelinthecurrentperiod.b.changeinthepricelevelfromthepreviousperiod.c.changeinthegrossdomesticproductfromthepreviousperiod.d.percentagechangeinthepricelevelfromthepreviousperiod.ANS:DPTS:1DIF:1REF:24-0TOP:InflationrateMSC:Definitional10.TheCPIisameasureoftheoverallcostofa.inputspurchasedbyatypicalproducer.b.goodsandservicesboughtbyatypicalconsumer.c.goodsandservicesproducedintheeconomy.d.stocksontheNewYorkStockExchange.ANS:BPTS:1DIF:1REF:24-1TOP:ConsumerpriceindexMSC:Definitional11.WhichofthefollowingagenciescalculatestheCPI?a.theNationalPriceBoardb.theDepartmentOfWeightandMeasurementsc.theBureauofLaborStatisticsd.theCongressionalBudgetOfficeANS:CPTS:1DIF:1REF:24-1TOP:Consumerpriceindex|BureauofLaborStatisticsMSC:Definitional12.WhichentitywithintheU.S.governmentisresponsibleforcomputingandreportingtheconsumerpriceindex?a.theDepartmentofCommerceb.theDepartmentofLaborc.theGeneralAccountingOfficed.theCouncilofEconomicAdvisersANS:BPTS:1DIF:1REF:24-1TOP:ConsumerpriceindexMSC:Definitional13.TheCPIiscalculateda.weekly.b.monthly.c.quarterly.d.yearly.ANS:BPTS:1DIF:1REF:24-1TOP:ConsumerpriceindexMSC:DefinitionalChapter24/MeasuringtheCostofLiving101514.TheCPIiscalculateda.monthlybytheDepartmentofCommerce.b.monthlybytheBureauofLaborStatistics.c.quarterlybytheDepartmentofCommerce.d.quarterlybytheBureauofLaborStatistics.ANS:BPTS:1DIF:2REF:24-1TOP:Consumerpriceindex|BureauofLaborStatisticsMSC:Definitional15.WhatbasketofgoodsisusedtoconstructtheCPI?a.arandomsampleofallgoodsandservicesproducedintheeconomyb.thegoodsandservicesthataretypicallyboughtbyconsumersasdeterminedbygovernmentsurveysc.onlyfood,clothing,transportation,entertainment,andeducationd.theleastexpensiveandthemostexpensivegoodsandservicesineachmajorcategoryofconsumerexpendituresANS:BPTS:1DIF:1REF:24-1TOP:ConsumerpriceindexMSC:Definitional16.InthecalculationoftheCPI,coffeeisgivengreaterweightthanteaifa.consumersbuymorecoffeethantea.b.thepriceofcoffeeishigherthanthepriceoftea.c.itcostsmoretoproducecoffeethanitcoststoproducetea.d.coffeeismorereadilyavailablethanisteatothetypicalconsumer.ANS:APTS:1DIF:2REF:24-1TOP:ConsumerpriceindexMSC:Definitional17.IntheCPI,goodsandservicesareweightedaccordingtoa.howlongamarkethasexistedforeachgoodorservice.b.theextenttowhicheach