春季学期微观经济学复习题Word文件下载.docx
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春季学期微观经济学复习题Word文件下载.docx
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a.increase
b.reduce
c.Notchange
d.it’shardtojudge
6.Whichofthefollowingconditionneedtofacetradeoffs?
a.WatchingTV
b.Goingtowork
c.Goingshopping
7.SupposebothUSandChinaproducecarstoys,basedonthefollowingform,whichcountryhasacomparativeadvantageinproducingcarsandwhichcountryhasacomparativeadvantageinproducingtoys?
1car
1toy
US
100hoursoflabor
5hoursoflabor
China
125hoursoflabor
1hoursoflabor
a.US,US
b.US,China
c.China,US
d.China,China
8.Accordingtothelawofsupply,whenthepriceofagoodrises
a.Thedemandofthegoodreduce
b.Thesupplyofthegoodincrease
c.Thedemandofthegoodincrease
d.Thesupplyofthegoodreduce
9.WhichofthefollowingincidentswillshiftDemandcurveofmilktotheright?
a.thepriceofmilkrises
b.peoplehavemorepreferenceonmilk
c.thepriceofmilkfall
d.thereisadiseasehappenedoncows
10.Ifthepriceofagoodislowerthanitsequilibriumpricethen:
a.thereisasurplusandthepricewillgoup
b.thereisasurplusandthepricewillgodown
c.thereisashortageandthepricewillgoup
d.thereisashortageandthepricewillgodown
11.Abindingpricefloorwillcauseamaximumsurplusif:
a.theSupplyiselasticbuttheDemandisinelastic
b.thesupplyisinelasticbuttheDemandiselastic
c.bothofsupplyanddemandareelastic
d.Bothofsupplyanddemandareinelastic
12.AccrodingtothefollowingProductionPossibilitiesFrontieroftwocountries.Inwhichcountryistheopportunitycostofclothlower?
Inwhichcountryistheopportunitycostofwineislower?
a.France,France
b.England,England
c.France,England
d.England,France
13.Ifthepriceelasticityofsupplyforonegoodis0,thesupplycurveofthegoodwillbe:
P
AB
C
D
Q
14.Supposethatconsumersuse15%oftheirincomeonthefood,thentheincomeelasticityofdemandforfoodis:
a.0.15
b.1.00
c.1.15
d.1.50
15.Whenthecross-priceelasticityofdemandbetweentwogoodsisnegative,thosetwogoodswillbe:
a.complements
b.substitutes
c.inferiorgoods
d.normalgoods
16.Otherthingsequal,whenthesupplyofworkersislow,onewouldpredictthatmarketwageswouldbe:
a.
relativelyhigh.
b.
relativelylow.
c.
determinedsolelybyfactorsthataffectdemand.
d.
determinedoutsidethedomainofeconomictheory.
17.Whichofthefollowingstatementsiscorrect?
Bothacompetitivefirmandamonopolistarepricetakers.
Bothacompetitivefirmandamonopolistarepricemakers.
Acompetitivefirmisapricetaker,whereasamonopolistisapricemaker.
Acompetitivefirmisapricemaker,whereasamonopolistisapricetaker.
18.Whichofthefollowingisnotadeterminantofthepriceelasticityofdemandforagood?
thetimehorizon
thesteepnessorflatnessofthesupplycurveforthegood
thedefinitionofthemarketforthegood
theavailabilityofsubstitutesforthegood
19.Whetheragoodisaluxuryornecessitydependsonthe
priceofthegood.
preferencesofthebuyer.
intrinsicpropertiesofthegood.
scarcityofthegood.
20.Thepriceelasticityofdemandforeggs
iscomputedasthepercentagechangeinquantitydemandedofeggsdividedbythepercentagechangeinpriceofeggs.
willbelowerifthereisanewinventionthatisaclosesubstituteforeggs.
willbehigherifconsumersconsidereggstobeanecessity.
Alloftheabovearecorrect.
Table5-1
Good
PriceElasticityofDemand
A
1.3
B
2.1
21.RefertoTable5-1.WhichofthefollowingisconsistentwiththeelasticitiesgiveninTable5-1?
Aisgrapes,andBisfruit.
AisT-shirts,andBissocks.
Aistrainticketsbeforecarswereinvented,andBistrainticketsaftercarswereinvented.
Aisdiamondnecklaces,andBisbeds.
22.Ifapriceceilingisnotbinding,then
therewillbeasurplusinthemarket.
therewillbeashortageinthemarket.
themarketwillbelessefficientthanitwouldbewithoutthepriceceiling.
therewillbenoeffectonthemarketpriceorquantitysold.
23.WelfareeconomicsexplainswhichofthefollowinginthemarketforDVDs?
ThegovernmentsetsthepriceofDVDs;
firmsrespondtothepricebyproducingaspecificlevelofoutput.
ThegovernmentsetsthequantityofDVDs;
firmsrespondtothequantitybychargingaspecificprice.
ThemarketequilibriumpriceforDVDsmaximizesthetotalwelfaretoDVDbuyersandsellers.
ThemarketequilibriumpriceforDVDsmaximizesconsumerwelfarebutminimizesproducerwelfare.
24.Consumersurplus
istheamountabuyerpaysforagoodminustheamountthebuyeriswillingtopayforit.
isrepresentedonasupply-demandgraphbytheareabelowthepriceandabovethedemandcurve.
measuresthebenefitsellersreceivefromparticipatinginamarket.
measuresthebenefitbuyersreceivefromparticipatinginamarket.
Table7-1
Buyer
WillingnessToPay
Lori
$50.00
Audrey
$30.00
Zach
$20.00
Calvin
$10.00
25.RefertoTable7-1.Ifthepriceoftheproductis$15,thenwhowouldbewillingtopurchasetheproduct?
LoriandAudrey
Lori,Audrey,andZach
Lori,Audrey,Zach,andCalvin
26.Thistablereferstofivepossiblebuyers'
willingnesstopayforacaseofVanillaCoke.RefertoTable7-2.IfthepriceofVanillaCokeis$6.90,whowillpurchasethegood?
David
$8.50
Laura
$7.00
Megan
$5.50
Mallory
$4.00
$3.50
allfiveindividuals
Megan,MalloryandAudrey
David,LauraandMegan
DavidandLaura
27.RefertoTable7-6.YouaresellingextraticketstotheMidwestRegionalSweet16gameinthemen’sNCAAbasketballtournament.Thetableshowsthewillingnesstopayofthefourpotentialbuyersinthemarketforatickettothegame.Whichofthefollowinggraphsrepresentsthemarketdemandcurve?
28.Raybuysanewtractorfor$118,000.Hereceivesconsumersurplusof$13,000onhispurchase.Ray'
swillingnesstopayis
$13,000.
$105,000.
$118,000.
$131,000.
29.Costisameasureofthe
seller'
swillingnesstosell.
sproducersurplus.
producershortage.
swillingnesstobuy.
Figure7-9
30.RefertoFigure7-9.IfthesupplycurveisS,thedemandcurveisD,andtheequilibriumpriceis$100,whatistheproducersurplus?
$625
$1,250
$2,500
$5,000
31.Whenataxisplacedonaproduct,thepricepaidbybuyers
rises,andthepricereceivedbysellersrises.
rises,andthepricereceivedbysellersfalls.
falls,andthepricereceivedbysellersrises.
falls,andthepricereceivedbysellersfalls.
Figure8-1
32.RefertoFigure8-1.SupposethegovernmentimposesataxofP'
-P'
'
.Totalsurplusafterthetaxismeasuredbythearea
I+Y.
J+K+L+M.
I+Y+B.
I+J+K+L+M+Y.
33.Supposeataxof$4perunitisimposedonagood,andthetaxcausestheequilibriumquantityofthegoodtodecreasefrom2,000unitsto1,700units.Thetaxdecreasesconsumersurplusby$3,000anddecreasesproducersurplusby$4,400.Thedeadweightlossofthetaxis
$200.
$400.
$600.
$1,200.
34.Buyersofaproductwillbearthelargerpartofthetaxburden,andsellerswillbearasmallerpartofthetaxburden,whenthe
taxisplacedonthesellersoftheproduct.
taxisplacedonthebuyersoftheproduct.
supplyoftheproductismoreelasticthanthedemandfortheproduct.
demandfortheproductismoreelasticthanthesupplyoftheproduct.
35.Thesizeofthedeadweightlossgeneratedfromataxisaffectedbythe
elasticitiesofbothsupplyanddemand.
elasticityofdemandonly.
elasticityofsupplyonly.
totalrevenuecollectedbythegovernment.
36.Anexternalityis
thecoststhatpartiesincurintheprocessofagreeingandfollowingthroughonabargain.
theuncompensatedimpactofoneperson'
sactionsonthewell-beingofabystander.
thepropositionthatprivatepartiescanbargainwithoutcostovertheallocationofresources.
amarketequilibriumtax.
37.Externalitiestendtocausemarketstobe
inefficient.
unequal.
unnecessary.
overwhelmed.
Figure10-5
38.RefertoFigure10-5.Whichpriceandquantitycombinationrepresentsthesocialoptimum?
P0andQ1.
P2andQ1.
P1andQ0.
P2andQ0.
39.Ifthegovernmentweretolimitthereleaseofair-pollutionproducedbyasteelmillto75partspermillion,thepolicywouldbeconsidered
regulation.
correctivetax.
subsidy.
market-basedpolicy.
40.Inamarkettha
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