经济学原理对应练习 04.docx

经济学原理对应练习 04.docx

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经济学原理对应练习04

Chapter4

TheMarketForcesofSupplyandDemand

MultipleChoice

1.Theforcesthatmakemarketeconomiesworkare

a.workandleisure.

b.demandandsupply.

c.regulationandrestraint.

d.taxesandgovernmentspending.

ANS:

BPTS:

1DIF:

1REF:

4-0

TOP:

MarketeconomyMSC:

Interpretive

2.Whichofthefollowingarethewordsmostcommonlyusedbyeconomists?

a.surplusandshortage

b.resourcesandallocation

c.supplyanddemand

d.theoryandpractice

ANS:

CPTS:

1DIF:

1REF:

4-0

TOP:

EconomistsMSC:

Interpretive

3.Inamarketeconomy,

a.supplydeterminesdemandand,inturn,demanddeterminesprices.

b.demanddeterminessupplyand,inturn,supplydeterminesprices.

c.theallocationofscarceresourcesdeterminespricesand,inturn,pricesdeterminesupplyanddemand.

d.supplyanddemanddeterminepricesand,inturn,pricesallocatescarceresources.

ANS:

DPTS:

1DIF:

2REF:

4-0

TOP:

MarketeconomyMSC:

Interpretive

4.Inamarketeconomy,supplyanddemandareimportantbecausethey

a.playacriticalroleintheallocationoftheeconomy’sscarceresources.

b.determinehowmuchofeachgoodgetsproduced.

c.canbeusedtopredicttheimpactontheeconomyofvariouseventsandpolicies.

d.Alloftheabovearecorrect.

ANS:

DPTS:

1DIF:

1REF:

4-0

TOP:

MarketeconomyMSC:

Interpretive

5.Amarketisa

a.groupofbuyersandsellersofaparticulargoodorservice.

b.groupofpeoplewithcommoneconomiccharacteristics.

c.placewherebuyersandsellerscometogethertoengageintrade.

d.placewhereanauctioneerhelpssetpricesandarrangesales.

ANS:

APTS:

1DIF:

1REF:

4-1

TOP:

MarketsMSC:

Definitional

6.Foramarketforagoodorservicetoexist,

a.theremustbeagroupofbuyersandsellers.

b.theremustbeaspecifictimeandplaceatwhichthegoodorserviceistraded.

c.thepriceofthegoodmustbedeterminedbythesellers.

d.Alloftheabovearecorrect.

ANS:

APTS:

1DIF:

1REF:

4-1

TOP:

Market（sMSC:

Definitional

7.Thetermmarketalwaysrefersto

a.anarrangementinwhichbuyersandsellersmeetataspecifictimeandplace.

b.anarrangementinwhichanauctioneerplaysatleastalimitedroleinsettingprices.

c.agroupofbuyersandsellersofaparticulargoodorservice.

d.Alloftheabovearecorrect.

ANS:

CPTS:

1DIF:

1REF:

4-1

TOP:

MarketsMSC:

Definitional

8.Agroupofbuyersandsellersofaparticulargoodorserviceiscalleda

a.coalition.

b.partnership.

c.market.

d.union.

ANS:

CPTS:

1DIF:

1REF:

4-1

TOP:

MarketsMSC:

Definitional

9.Amarketisalwayscharacterizedby

a.ahighdegreeoforganization.

b.anindividualorsmallgroupofindividualswhosetthepriceoftheproductforallbuyersandsellers.

c.thepresenceofbuyersandsellers.

d.Alloftheabovearecorrect.

ANS:

CPTS:

1DIF:

2REF:

4-1

TOP:

MarketsMSC:

Interpretive

10.Whichofthefollowingstatementsiscorrect?

a.Buyersdeterminesupplyandsellersdeterminedemand.

b.Buyersdeterminedemandandsellersdeterminesupply.

c.Buyersandsellersasonegroupdeterminesupply,butonlybuyersdeterminedemand.

d.Buyersandsellersasonegroupdeterminedemand,butonlysellersdeterminesupply.

ANS:

BPTS:

1DIF:

2REF:

4-1

TOP:

Demand|SupplyMSC:

Interpretive

11.Foreachgoodproducedinamarketeconomy,theinteractionofdemandandsupplydetermines

a.thepriceofthegood,butnotthequantity.

b.thequantityofthegood,butnottheprice.

c.boththepriceofthegoodandthequantityofthegood.

d.neitherpricenorquantity,becausepricesandquantitiesaredeterminedbythesellersofthegoodsalone.

ANS:

CPTS:

1DIF:

2REF:

4-1

TOP:

MarketeconomyMSC:

Interpretive

12.Acompetitivemarketisamarketinwhich

a.anauctioneerhelpssetpricesandarrangesales.

b.thereareonlyafewsellers.

c.theforcesofsupplyanddemanddonotapply.

d.noindividualbuyerorsellerhasanysignificantimpactonthemarketprice.

ANS:

DPTS:

1DIF:

1REF:

4-1

TOP:

CompetitivemarketsMSC:

Definitional

13.Thedemandforagoodorserviceisdeterminedby

a.thosewhobuythegoodorservice.

b.thegovernment.

c.theproducerswhocreatethegoodorservice.

d.thosewhosupplytherawmaterialsusedintheproductionofthegoodorservice.

ANS:

APTS:

1DIF:

2REF:

4-1

TOP:

DemandMSC:

Interpretive

14.Acompetitivemarketisoneinwhich

a.thereisonlyoneseller,buttherearemanybuyers.

b.therearemanysellersandeachsellerhastheabilitytosetthepriceofhisproduct.

c.therearemanysellersandtheycompetewithoneanotherinsuchawaythatsomesellersarealwaysbeingforcedoutofthemarket.

d.therearesomanybuyersandsomanysellersthateachhasanegligibleimpactonthepriceoftheproduct.

ANS:

DPTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Definitional

15.Inacompetitivemarket,

a.onlyafewsellerssellthesameproduct.

b.eachsellerhasalimiteddegreeofcontroloverthepriceofhisproduct.

c.ifonebuyerchoosestopurchasealargequantityoftheproduct,thepricewillrise.

d.ifonesellerwithholdshisproductfromthemarket,priceswillrise.

ANS:

BPTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Interpretive

16.Inacompetitivemarket,eachsellerhaslimitedcontroloverthepriceofhisproductbecause

a.othersellersareofferingsimilarproducts.

b.buyersexertmorecontroloverthepricethandosellers.

c.thesemarketsarehighlyregulatedbygovernment.

d.sellersusuallyagreetosetacommonpricethatwillalloweachsellertoearnacomfortableprofit.

ANS:

APTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Interpretive

17.Mostmarketsintheeconomyare

a.marketsinwhichsellers,ratherthanbuyers,controlthepriceoftheproduct.

b.marketsinwhichbuyers,ratherthansellers,controlthepriceoftheproduct.

c.marketsinwhicheachselleroftheproductisawarethattherearefew,ifany,similarproductsofferedbyothersellers.

d.highlycompetitive.

ANS:

DPTS:

1DIF:

2REF:

4-1

TOP:

MarketsMSC:

Interpretive

18.Foracompetitivemarket,whichofthefollowingstatementsiscorrect?

a.Asellercanalwaysincreaseherprofitbyraisingthepriceofherproduct.

b.Ifasellerchargesmorethanthegoingprice,buyerswillgoelsewheretomaketheirpurchases.

c.Aselleroftenchargeslessthanthegoingpricetoincreasesalesandprofit.

d.Asinglebuyercaninfluencethepriceoftheproduct,butonlywhenpurchasingfromseveralsellersinashortperiodoftime.

ANS:

BPTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Interpretive

19.AssumeTeresabuyscomputersinacompetitivemarket.Then

a.Teresahasalimitednumberofsellerstoturntowhenshebuysacomputer.

b.Teresawillfindherselfnegotiatingwithsellerswhenevershebuysacomputer.

c.ifTeresabuysalargenumberofcomputers,thepriceofcomputerswillrisenoticeably.

d.Noneoftheaboveiscorrect.

ANS:

DPTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Interpretive

20.Thehighestformofcompetitioniscalled

a.absolutecompetition.

b.cutthroatcompetition.

c.perfectcompetition.

d.marketcompetition.

ANS:

CPTS:

1DIF:

1REF:

4-1

TOP:

PerfectcompetitionMSC:

Definitional

21.Whichofthefollowingisnotacharacteristicofaperfectlycompetitivemarket?

a.Differentsellerssellidenticalproducts.

b.Therearemanysellers.

c.Sellersmustacceptthepricethemarketdetermines.

d.Alloftheabovearecharacteristicsofaperfectlycompetitivemarket.

ANS:

DPTS:

1DIF:

2REF:

4-1

TOP:

PerfectcompetitionMSC:

Interpretive

22.Whichofthefollowingisnotacharacteristicofaperfectlycompetitivemarket?

a.Sellerspossessmarketpower.

b.Therearemanysellers.

c.Buyersmustacceptthepricethemarketdetermines.

d.Alloftheabovearecharacteristicsofaperfectlycompetitivemarket.

ANS:

APTS:

1DIF:

2REF:

4-1

TOP:

PerfectcompetitionMSC:

Interpretive

23.Thetermpricetakersreferstobuyersandsellersin

a.perfectlycompetitivemarkets.

b.monopolies.

c.marketsthatareregulatedbygovernment.

d.marketsinwhichbuyerscannotbuyalltheywantand/orsellerscannotsellalltheywant.

ANS:

APTS:

1DIF:

2REF:

4-1

TOP:

PerfectcompetitionMSC:

Interpretive

24.Buyersandsellerswhohavenoinfluenceonmarketpricearereferredtoas

a.marketpawns.

b.marginalists.

c.pricetakers.

d.pricemakers.

ANS:

CPTS:

1DIF:

1REF:

4-1

TOP:

PerfectcompetitionMSC:

Definitional

25.Pricetakershavenoinfluenceoverpricesinmarketsthatfeature

a.onlyafewbuyersandafewsellers.

b.numeroussellersbutonlyafewbuyers.

c.numerousbuyersbutonlyafewsellers.

d.numerousbuyersandnumeroussellers.

ANS:

DPTS:

1DIF:

1REF:

4-1

TOP:

PerfectcompetitionMSC:

Interpretive

26.Anexampleofaperfectlycompetitivemarketwouldbethe

a.cableTVmarket.

b.soybeanmarket.

c.newcarmarket.

d.bluejeanmarket.

ANS:

BPTS:

1DIF:

2REF:

4-1

TOP:

PerfectcompetitionMSC:

Interpretive

27.Themarketforicecreamis

a.amonopolisticmarket.

b.acompetitivemarket.

c.ahighlyorganizedmarket.

d.amarketinwhichthereisnoconnectionwhatsoeverbetweenbuyersandsellers.

ANS:

BPTS:

1DIF:

1REF:

4-1

TOP:

MarketsMSC:

Interpretive

28.Ifasellerinacompetitivemarketchoosestochargemorethanthemarketprice,then

a.thesellers’profitsdefinitelywouldincrease.

b.theownersoftherawmaterialsusedinproductionwouldraisethepricesfortherawmaterials.

c.othersellerswouldalsoraisetheirprices.

d.buyerswilltendtomakepurchasesfromothersellers.

ANS:

DPTS:

1DIF:

2REF:

4-1

TOP:

CompetitivemarketsMSC:

Interpretive

29.Ifbuyersandsellersinacer