曼昆经济学原理微观第五版测试题库 05.docx
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曼昆经济学原理微观第五版测试题库 05.docx
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曼昆经济学原理微观第五版测试题库05
Chapter5
ElasticityandItsApplication
TRUE/FALSE
1.Elasticitymeasureshowresponsivequantityistochangesinprice.
ANS:
TDIF:
1REF:
5-0NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
2.Measuresofelasticityenhanceourabilitytostudythemagnitudesofchanges.
ANS:
TDIF:
1REF:
5-0NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
3.Thedemandforbreadislikelytobemoreelasticthanthedemandforsolid-goldbreadplates.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
4.Ingeneral,demandcurvesfornecessitiestendtobepriceelastic.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
5.Ingeneral,demandcurvesforluxuriestendtobepriceelastic.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
6.Necessitiestendtohaveinelasticdemands,whereasluxurieshaveelasticdemands.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
7.Goodswithclosesubstitutestendtohavemoreelasticdemandsthandogoodswithoutclosesubstitutes.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
8.ThedemandforRiceKrispiesismoreelasticthanthedemandforcerealingeneral.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
9.ThedemandforsoapismoreelasticthanthedemandforDovesoap.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
10.Thedemandforgasolinewillrespondmoretoachangeinpriceoveraperiodoffiveweeksthanoveraperiodoffiveyears.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
11.Eventhedemandforanecessitysuchasgasolinewillrespondtoachangeinprice,especiallyoveralongertimehorizon.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
12.Thepriceelasticityofdemandisdefinedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
13.Thepriceelasticityofdemandisdefinedasthepercentagechangeinpricedividedbythepercentagechangeinquantitydemanded.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
14.Supposethatwhenthepricerisesby20%foraparticulargood,thequantitydemandedofthatgoodfallsby10%.Thepriceelasticityofdemandforthisgoodisequalto2.0.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Analytical
15.Supposethatwhenthepricerisesby10%foraparticulargood,thequantitydemandedofthatgoodfallsby20%.Thepriceelasticityofdemandforthisgoodisequalto2.0.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Analytical
16.Ifthepriceofcalculatorsincreasesby15percentandthequantitydemandedperweekfallsby45percentasaresult,thenthepriceelasticityofdemandis3.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Applicative
17.Demandisinelasticifthepriceelasticityofdemandisgreaterthan1.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
InelasticdemandMSC:
Definitional
18.Alinear,downward-slopingdemandcurvehasaconstantelasticitybutachangingslope.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
19.Priceelasticityofdemandalongalinear,downward-slopingdemandcurveincreasesaspricefalls.
ANS:
FDIF:
3REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
20.Ifthepriceelasticityofdemandisequalto0,thendemandisunitelastic.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
21.Ifthepriceelasticityofdemandisequalto1,thendemandisunitelastic.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Definitional
22.Demandforagoodissaidtobeinelasticifthequantitydemandedincreasessubstantiallywhenthepricefallsbyasmallamount.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
InelasticdemandMSC:
Definitional
23.Themidpointmethodisusedtocalculateelasticitybetweentwopointsbecauseitgivesthesameanswerregardlessofthedirectionofthechange.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
MidpointmethodMSC:
Interpretive
24.Theflatterthedemandcurvethatpassesthroughagivenpoint,themoreinelasticthedemand.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
25.Theflatterthedemandcurvethatpassesthroughagivenpoint,themoreelasticthedemand.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofdemandMSC:
Interpretive
26.Ifdemandisperfectlyinelastic,thedemandcurveisvertical,andthepriceelasticityofdemandequals0.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PerfectlyinelasticdemandMSC:
Interpretive
27.Ifdemandisperfectlyelastic,thedemandcurveishorizontal,andthepriceelasticityofdemandequals1.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
PerfectlyelasticdemandMSC:
Interpretive
28.Alongtheelasticportionofalineardemandcurve,totalrevenuerisesaspricerises.
ANS:
FDIF:
3REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Totalrevenue|Priceelasticityofdemand
MSC:
Interpretive
29.Ifafirmisfacingelasticdemand,thenthefirmshoulddecreasepricetoincreaserevenue.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Totalrevenue|Priceelasticityofdemand
MSC:
Applicative
30.Ifafirmisfacinginelasticdemand,thenthefirmshoulddecreasepricetoincreaserevenue.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Totalrevenue|Priceelasticityofdemand
MSC:
Applicative
31.Whendemandisinelastic,adecreaseinpriceincreasestotalrevenue.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Inelasticdemand|TotalrevenueMSC:
Interpretive
32.Theincomeelasticityofdemandisdefinedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinincome.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
IncomeelasticityofdemandMSC:
Definitional
33.Theincomeelasticityofdemandisdefinedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.
ANS:
FDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
IncomeelasticityofdemandMSC:
Definitional
34.Normalgoodshavenegativeincomeelasticitiesofdemand,whileinferiorgoodshavepositiveincomeelasticitiesofdemand.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
IncomeelasticityofdemandMSC:
Interpretive
35.Iftheincomeelasticityofdemandforagoodisnegative,thenthegoodmustbeaninferiorgood.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
IncomeelasticityofdemandMSC:
Interpretive
36.Ifthecross-priceelasticityofdemandfortwogoodsisnegative,thenthetwogoodsaresubstitutes.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Interpretive
37.Ifthecross-priceelasticityofdemandfortwogoodsisnegative,thenthetwogoodsarecomplements.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Interpretive
38.Cross-priceelasticityofdemandmeasureshowthequantitydemandedofonegoodchangesasthepriceofanothergoodchanges.
ANS:
TDIF:
1REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Definitional
39.Cross-priceelasticityisusedtodeterminewhethergoodsareinferiorornormalgoods.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Interpretive
40.Cross-priceelasticityisusedtodeterminewhethergoodsaresubstitutesorcomplements.
ANS:
TDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Interpretive
41.Thecross-priceelasticityofgarlicsaltandonionsaltis-2,whichindicatesthatgarlicsaltandonionsaltaresubstitutes.
ANS:
FDIF:
2REF:
5-1NAT:
Analytic
LOC:
ElasticityTOP:
Cross-priceelasticityofdemandMSC:
Interpretive
42.Priceelasticityofsupplymeasureshowmuchthequantitysuppliedrespondstochangesintheprice.
ANS:
TDIF:
1REF:
5-2NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofsupplyMSC:
Definitional
43.Supplyanddemandbothtendtobemoreelasticinthelongrunandmoreinelasticintheshortrun.
ANS:
TDIF:
2REF:
5-1|5-2NAT:
Analytic
LOC:
ElasticityTOP:
Priceelasticitiesofdemandandsupply
MSC:
Interpretive
44.Ifthepriceelasticityofsupplyis2andthequantitysupplieddecreasesby6%,thenthepricemusthavedecreasedby3%.
ANS:
TDIF:
2REF:
5-2NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofsupplyMSC:
Applicative
45.Supplyissaidtobeinelasticifthequantitysuppliedrespondssubstantiallytochangesintheprice,andelasticifthequantitysuppliedrespondsonlyslightlytoprice.
ANS:
FDIF:
1REF:
5-2NAT:
Analytic
LOC:
ElasticityTOP:
PriceelasticityofsupplyMSC:
Definitional
46.Supplytendstobemoreelasticintheshortrunandmoreinelasticinthelongrun.
A
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