Chapter13Externality and Public Goods经济学英语题库.docx
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Chapter13Externality and Public Goods经济学英语题库.docx
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Chapter13ExternalityandPublicGoods经济学英语题库
Chapter13ExternalityandPublicGoods
MultipleChoice
1.Marketfailureintheformofexternalitiesariseswhen(b)
a.productioncostsareincludedinthepricesofgoods.
b.notallcostsandbenefitsareincludedinthepricesofgoods.
c.thebenefitsexceedthecostsofconsuminggoods.
d.themarketfailstoachieveequilibrium.
2.Whichofthefollowingisanexampleofapositiveexternality?
(c)
a.Airpollution.
b.Apersonlittersinapublicpark.
c.Anicegardeninfrontofyourneighbor’shouse.
d.Thepollutionofastream.
3.Thesocialcostofagoodis(c)
a.itsbenefittothepeoplewhobuyandconsumeit.
b.itstotalbenefittoeveryoneinsociety.
c.itscosttoeveryoneinthesocietythatoccursinadditiontotheprivatecosts.
d.thecostpaidbythefirmthatproducesandsellsit.
4.Theprivatebenefitofconsumingagoodis(a)
a.itsbenefittothepeoplewhobuyandconsumeit.
b.itstotalbenefittoeveryoneinthesociety.’
c.itscosttoeveryoneinthesociety.
d.thecostpaidbythefirmthatproducesandsellsit.
5.Whenapersondrivesacarthatpollutestheair(c)
a.theprivatecostofconsumingthecar’sservicesexceedsthesocialcost.
b.theprivatebenefitofconsumingthecar’sservicesexceedsthesocialbenefit.
c.thesocialcostofconsumingthecar’sservicesexceedstheprivatecost.
d.thesocialbenefitofconsumingthecar’sservicesexceedstheprivatebenefits.
6.Ifaperfectlycompetitiveindustryisnotforcedtotakeaccountofanegativeexternalityitcreates,itwillproducewhere(a)
e.themarginalcostofproductionequalsthemarginalprivatebenefit.
f.themarginalcostofproductionequalsthemarginalsocialbenefit.
g.themarginalsocialcostofproductionequalsthemarginalsocialbenefit.
h.priceequalsmarginalsocialbenefit.
7.Flushotsareassociatedwithapositiveexternality.(Thosewhocomeincontactwithpeoplewhoareinoculatedarehelpedaswell.)Givenperfectcompetitionwithnogovernmentinterventioninthevaccinationmarket,whichofthefollowingholds?
(d)
a.Atthecurrentoutputlevel,themarginalsocialbenefitexceedsthemarginalprivatebenefit.
b.Thecurrentoutputlevelisinefficientlylow.
c.Aper-shotsubsidycouldturnaninefficientsituationintoanefficientone.
d.Alloftheabovehold.
8.Becausetherearepositiveexternalitiesfromhighereducation,(a)
a.privatemarketswouldprovidetoolittleofit.
b.privatemarketswouldprovidetoomuchofit.
c.thegovernmentshouldimposeataxoncollegestudents.
d.thegovernmentshouldimposeataxonstudents’families.
9.Thisdiagramrepresentsthetobaccoindustry.Whichofthefollowingwouldbeincludedinthesupply(privatecost)curve?
(a)
a.Thecostoflabor.
b.Thecosttothegovernmentofthehospitalexpensesofsmokerswithcancer.
c.Theincreasedriskofcancertothenonsmokingpassengersinthesmoker’scarpool.
d.Thepriceofapackofcigarettes.
10.Internalizinganexternalitymeans(d)
a.thegoodbecomesapublicgood.
b.governmentregulationsortaxesaresufficienttoeliminatetheexternalitycompletely.
c.governmentimposesregulationsthateliminatetheexternalitycompletely.
d.incentivesarealteredsothatpeopletakeaccountoftheexternaleffectsoftheiractions.
11.Whycan’tprivateindividualsalwaysinternalizeanexternalitywithoutthehelpofgovernment?
(b)
a.Legalrestrictionspreventsidepaymentsbetweenindividuals.
b.Transactionscostsmaybetoohigh.
c.Sidepaymentsbetweenindividualsareinefficient.
d.Sidepaymentsbetweenindividualsviolateequitystandards.
12.Whateconomicargumentsuggeststhatiftransactionscostsaresufficientlylow,theequilibriumiseconomicallyefficientregardlessofhowpropertyrightsaredistributed?
(a)
a.TheCoaseTheorem.
b.Say’sLaw.
c.TheLawofComparativeAdvantage.
d.TheLawofSupply.
13.Assumetheproductionoftheproductinthefigureimposesacostonsocietyof$7.00perunit.Ifthefreemarketequilibriumoutputis50units,thegovernmentshould(d)
a.imposeataxof$2.50perunit.
b.reducetheoutputofthefirmbyapproximately39units.
c.imposealump-sumtaxof$350perperiod.
d.imposeataxof$7.00perunit.
14.Abenefitoftaxesoverregulationtointernalizeexternalitiesis(d)
a.itiseasiertochoosetheoptimalamountoftaxesthantheoptimalamountofregulation.
b.regulationsaremoredifficulttoimposethantaxes.
c.taxesequatethesocialcostswiththesocialbenefits.
d.taxesprovideincentivestoadoptnewmethodstoreducetheexternality.
15.Ifthegovernmentwantstotaxapolluter,theeconomicallyefficientoutcomeoccurswhen(a)
a.themarginaltaxequalsthemarginalcosttootherpeoplefromthepollution.
b.theaveragetaxequalstheaveragecosttootherpeoplefromthepollution.
c.thetotaltaxequalsthetotalcosttootherpeoplefromthepollution.
d.thetaxishighenoughtostoppollutioncompletely.
16.WhichofthefollowingisNOTamethodthatcouldeffectivelydealwithnegativeexternalities?
(a)
a.Relyingonvoluntarycompliance.
b.Taxingtheoutputofindustriesthatpollute.
c.Creatinglegalenvironmentalstandards.
d.Increasingpublicspendingoncleanupandreductionofpollution.
17.Acommoncomplaintaboutenvironmentalregulationandenforcementisthatit(c)
a.appliesonlytofirmsthatproducegoods,notservices.
b.ispoliticallymotivatedandsoalwaysmisdirected.
c.canbetooburdensometoproducerswhocanpaythefinesmoreeasilythantheycanreducepollution.
d.resultsinmorepollutionthanwithouttheregulations.
18.Thebenefittoapollutiontaxoverotherformsofinternalizingapollutionexternalityisthat(c)
a.eliminatespollutioncompletely.
b.forcescleanuptooccur.
c.isimposedonlyonthemarketwiththeexternality.
d.createspositiveexternalitiestocompensatefornegativeexternalities.
19.Pollutionpermits(b)
a.imposeregulationsonfirmsthattheymustachieve.
b.setaquantityofpollutionthatwillexist.
c.cannotbetradedbetweenfirmsinordertomakesurethattheworstoffendersmustcleanuptheirproductionprocesses.
d.areefficientbecausetheyeliminateallpollution.
20.Thisdiagramshowsthemarketforpollutionwhenpermitsareissuedtofirmsandtradedinthemarketplace.Theequilibriumpriceofpollutionhereis(b)
a.$500.
b.$1000.
c.$1500.
d.$2000.
21.WhichofthefollowingisNOTacharacteristicofapublicgood?
(c)d
a.Itrequiresresourcestoproduce.
b.Itisnotdiminishedordepreciatedasadditionalpeopleconsumethegood.
c.Itsbenefitscannotbewithheldfromanyone.
d.Itisafreegoodwithzeroopportunitycost.
22.Whichofthefollowingwouldbethebestexampleofapublicgood?
(c)
a.Acandybar.
b.ApaintingbyMonet.
c.Abeautifulsunset.
d.Acrowdedbeach.
23.Toachievetheoptimalprovisionofpublicgoods(d)
a.themarketshouldbeallowedtofinditsequilibriumwithoutgovernmentintervention.
b.thegovernmentmustlimittheprovisionofthegoods.
c.thegovernmentmusttaxproducersofthesegoods.
d.thegovernmentmusteitherprovidethegoodsorsubsidizetheirproduction.
24.Publicgoodsare(d)
a.rivalandexcludable.
b.rivalbutexcludable.
c.nonrivalbutexcludable.
d.nonrivalandnonexcludable.
25.Privategoodsare(a)
a.rivalandexcludable.
b.rivalbutexcludable.
c.nonrivalbutexcludable.
d.nonrivalandnonexcludable.
26.Whoamongthefollowingisafreerider?
(d)
a.Barrystealscandyfromthestorewhereheworks.
b.Bettyregularlyusesthelocalpubliclibraryinthetowninwhichshelives.
c.Joedrives20,000milesayearonpublicstreets,buthepaysnomoreintaxesthanSam,whoonlydrives1,000miles.
d.Fredwatchesmanypublictelevisionprograms,buthehasneversentinacontributiontothestation.
27.Peoplehavelittleincentivetoproduceapublicgoodbecause(c)
a.thesocialbenefitislessthantheprivatebenefit.
b.thesocialbenefitislessthanthesocialcost.
c.thereisafree-riderproblem.
d.thereisatragedyofthecommons.
28.Thefree-riderproblem(d)
a.forcessupplyofapublicgoodtoexceeddemand.
b.allowsmorepeopletopayforthepublicgoodthanifitwereaprivategood.
c.encouragesoveruseofagoodthatisfreelyavailable.
d.holdstheequilibriumquantityofapublicgoodbelowtheeconomicallyefficientlevel.
29.Ifthemarginalcostofnationaldefenseisconstantat$12perunit,whatistheefficientlevelofnationaldefensetoprovide?
(c)
a.6units.
b.13units
c.22units.
d.33units.
30.Adrawbackofgovernmentprovisionofapublicgoodisthat(a)
a.thegovernmentlacksinformationaboutwhatpeoplearewillingtopayforthegood.
b.taxeshavetoberaisedtopayforthegood.
c.thegovernmentdoesnotprovideenoughofanypublicgood.
d.itwouldbecheaperfortheprivatesectortoprovidethegood.
31.Adrawbackofgovernmentprovisionofapublicgoodisthat(a)
a.governmentprogramsmayreflectpoliticalconsiderationsratherthaneconomicefficiency.
b.taxeshavetoberaisetopayforthegood.
c.thegovernmentdoesnotprovideenoughofanypublicgood.
d.itwouldbecheaperfortheprivatesectortoprovidethegood.
32.The“opensource”movementinthetechnologyindustrysupportstheideathatprogrammingcodeshouldbemadefreelyavailable.Thisgroupbelievethat(c)
a.thereisanegativeexternalitygeneratedbytechnologicaladvancementwhenprivatepropertyrightsareenforced.
b.thecostsofmaintainingprivatepropertyrightsaregreaterthanthebenefittosocietyofmakingadvancesfreelyavailable.
c.thecostsofmaintainingprivatepropertyrightsare
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