Homework 微观经济练习汇总.docx
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Homework 微观经济练习汇总.docx
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Homework微观经济练习汇总
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MultipleChoice(2ptsX20=40pts).
Pleasewritedownyourchoicenexttothenumberofthequestion.
1.Supposeyourowndemandcurvefortomatoesslopesdownward.Supposealsothat,forthelasttomatoyouboughtthisweek,youpaidapriceexactlyequaltoyourwillingnesstopay.Then
a.
youshouldbuymoretomatoesbeforetheendoftheweek.
b.
youalreadyhaveboughttoomanytomatoesthisweek.
c.
yourconsumersurplusonthelasttomatoyouboughtiszero.
d.
yourconsumersurplusonallofthetomatoesyouhaveboughtthisweekiszero.
Table1
Theonlyfourconsumersinamarkethavethefollowingwillingnesstopayforagood:
Buyer
WillingnesstoPay
Carlos
$15
Quilana
$25
Wilbur
$35
Ming-la
$45
2.RefertoTable1.Whoexperiencesthelargestlossofconsumersurpluswhenthepriceofthegoodincreasesfrom$20to$22?
a.
Quilana
b.
Wilbur
c.
Ming-la
d.
Allthreebuyersexperiencethesamelossofconsumersurplus.
3.Considerthefollowingproblems:
Overcrowdedpublichighways,overfishingintheocean,pollutedair,andthenear-extinctionofthewildrhinoceros.Whatdotheseproblemshaveincommon?
a.
Privatemarketscouldeasilysolvethemifgovernmentsleftthemarketsalone.
b.
Theywouldallgoawayifthegovernmentsponsoredanintensivepublic-informationcampaign.
c.
Theyarealltheresultofafailuretoestablishclearpropertyrightsoversomethingofvalue.
d.
Theyarealltheresultofafailureofcorrectivetaxes.
4.Whichofthefollowingstatementsisnotcorrect?
a.
Patentshelpinternalizetheexternalitiesassociatedwithtechnologicaladvances.
b.
Economiststypicallypreferregulationstocorrectivetaxesbecauseregulationsprovidemoreincentivesforfirmstoseekcontinuedreductionsinpollution.
c.
Allowingfirmstotradepollutionpermitswilllowerthetotalcostofreducingpollution.
d.
AbigimpedimenttoimplementingtheCoasetheoreminmanycasesishightransactionscosts.
5.Whichofthefollowingwillcauseadecreaseinproducersurplus?
a.
theimpositionofabindingpriceceilinginthemarket
b.
anincreaseinthenumberofbuyersofthegood
c.
incomeincreasesandbuyersconsiderthegoodtobenormal
d.
thepriceofacomplementdecreases
6.Thedeadweightlossfroma$3taxwillbelargestinamarketwith
a.
inelasticsupplyandelasticdemand.
b.
inelasticsupplyandinelasticdemand.
c.
elasticsupplyandelasticdemand.
d.
elasticsupplyandinelasticdemand.
7.Whichofthefollowingideasisthemostplausible?
a.
Taxrevenueismorelikelytoincreasewhenalowtaxrateisincreasedthanwhenahightaxrateisincreased.
b.
Taxrevenueislesslikelytoincreasewhenalowtaxrateisincreasedthanwhenahightaxrateisincreased.
c.
Taxrevenueislikelytoincreasebythesameamountwhenalowtaxrateisincreasedandwhenahightaxrateisincreased.
d.
Decreasingataxratecanneverincreasetaxrevenue.
8.Whenanationfirstbeginstotradewithothercountriesandthenationbecomesanimporterofcorn,
a.
thisisanindicationthattheworldpriceofcornexceedsthenation’sdomesticpriceofcornintheabsenceoftrade.
b.
thisisanindicationthatthenationhasacomparativeadvantageinproducingcorn.
c.
thenation’sconsumersofcornbecomebetteroffandthenation’sproducersofcornbecomeworseoff.
d.
Alloftheabovearecorrect.
9.Whenacountryallowstradeandbecomesanexporterofagood,whichofthefollowingisnotaconsequence?
a.
Thepricepaidbydomesticconsumersofthegoodincreases.
b.
Thepricereceivedbydomesticproducersofthegoodincreases.
c.
Thelossesofdomesticconsumersofthegoodexceedthegainsofdomesticproducersofthegood.
d.
Thegainsofdomesticproducersofthegoodexceedthelossesofdomesticconsumersofthegood.
10.TheUnitedStateshasimposedtaxesonsomeimportedgoodsthathavebeensoldherebyforeigncountriesatbelowtheircostofproduction.Thesetaxes
a.
benefittheUnitedStatesasawhole,becausetheygeneraterevenueforthegovernment.Inaddition,becausethegoodsarepricedbelowcost,thetaxesdonotharmdomesticconsumers.
b.
benefittheUnitedStatesasawhole,becausetheygeneraterevenueforthegovernmentandincreaseproducersurplus.
c.
harmtheUnitedStatesasawhole,becausetheyreduceconsumersurplusbyanamountthatexceedsthegaininproducersurplusandgovernmentrevenue.
d.
harmtheUnitedStatesasawhole,becausetheyreduceproducersurplusbyanamountthatexceedsthegaininconsumersurplusandgovernmentrevenue.
11.Supposethatelectricityproducerscreateanegativeexternalityequalto$6perunit.Furthersupposethatthegovernmentimposesa$8per-unittaxontheproducers.Whatistherelationshipbetweentheafter-taxequilibriumquantityandthesociallyoptimalquantityofelectricitytobeproduced?
a.
Theyareequal.
b.
Theafter-taxequilibriumquantityisgreaterthanthesociallyoptimalquantity.
c.
Theafter-taxequilibriumquantityislessthanthesociallyoptimalquantity.
d.
Thereisnotenoughinformationtoanswerthequestion.
12.SupposethatanMBAdegreecreatesnoexternalitybecausethebenefitsofanMBAareinternalizedbythestudentintheformofhigherwages.IftherearenogovernmentsubsidiesforMBAs,thenwhichofthefollowingstatementsiscorrect?
a.
TheequilibriumquantityofMBAswillequalthesociallyoptimalquantityofMBAs.
b.
TheequilibriumquantityofMBAswillbegreaterthanthesociallyoptimalquantityofMBAs.
c.
TheequilibriumquantityofMBAswillbelessthanthesociallyoptimalquantityofMBAs.
d.
Thereisnotenoughinformationtoanswerthequestion.
13.MaryandCathyareroommates.Maryassignsa$30valuetosmokingcigarettes.Cathyvaluessmoke-freeairat$15.WhichofthefollowingscenariosisasuccessfulexampleoftheCoasetheorem?
a.
CathyoffersMary$20nottosmoke.Maryacceptsanddoesnotsmoke.
b.
MarypaysCathy$16sothatMarycansmoke.
c.
MarypaysCathy$14sothatMarycansmoke.
d.
CathyoffersMary$15nottosmoke.Maryacceptsanddoesnotsmoke.
14.Highwayengineershaveproposedimprovingadangerousstretchofhighwayatacostof$1.5million.Theyexpectthatitwillreducetheriskofsomeonedyinginanaccidentoverthelifeofthehighwayfrom18.3percentto7.8percent.Theprojectwouldbeworthdoingaslongasahumanlifeisworthatleast
a.
$117,000.
b.
$157,500.
c.
$274,500.
d.
$1.5million.
15.Whichofthefollowingisanexampleofthefree-riderproblem?
a.
BothFredandWilmareceivelow-costdentalcareatthelocaldentalschool,soneitherofthempaysthefullcostofthecare.
b.
Elmerreceivesafreelunchfromthelocal"MealsonWheels"programbecauseofhislowmonthlyincome.Yethisnextdoorneighbor,Dorothy,isnoteligibleforthefreelunch.
c.
MaxownsFido,alargedogwhobarkswheneveranyonewalksnearhishouse.SallylivesnexttoMax,andFido'sbarkingcanbeheardwheneveranyonewalksnearherhouse,too.Thus,SallyreceivesfreeprotectionfromburglarsbecauseofFido'sbarking.
d.
Davidpurchasesaburgeratafastfoodrestaurantandgetsasecondburgerfreebecausetherestaurantishavingabuyone,getonefreesale.
16.Whichofthefollowingstatementsisnotcorrect?
a.
EnvironmentaldegradationisanexampleoftheTragedyoftheCommons.
b.
Cost-benefitanalysisisanimportanttoolthateconomistsusetoevaluatethebenefitsofprovidingapublicgood.
c.
Somegoods,suchaslighthouses,maybeeitherprivateorpublicgoods.
d.
Thefree-riderproblempreventsgovernmentsfromsupplyingpublicgoods.
17.Beforeconsideringanypublicproject,thegovernmentshould
(i)
comparethetotalcostandtotalbenefitsoftheproject.
(ii)
conductacost-benefitanalysis.
(iii)
inferthatcitizenswhovoteforaprojectarewillingtopayequallyforit.
a.
(i)only
b.
(ii)only
c.
(i)and(ii)only
d.
(i),(ii),and(iii)
18.Onhotsummerdays,electricity-generatingcapacityissometimesstretchedtothelimit.Atthesetimes,electriccompaniesmayaskpeopletovoluntarilycutbackontheiruseofelectricity.Aneconomistwouldsuggestthat
a.
everyelectriccustomerhasanincentivetopreventthesystemfromoverloading,sothisvoluntaryapproachisthemostefficient.
b.
itwouldbemoreefficientiftheelectriccompanyraiseditsratesforelectricityatpeaktimes.
c.
itwouldbemoreefficienttohavealotterytodecidewhohadtocutbacktheiruseofelectricityatpeaktimes.
d.
itwouldbemoreefficienttoforceeveryonetocuttheirusageofelectricitybythesameamount.
19.Assumethesupplycurveforcigarsisatypical,upward-slopingstraightline,andthedemandcurveforcigarsisatypical,downward-slopingstraig
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