微观复习题Word下载.docx

微观复习题Word下载.docx

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a.AustraliahasacomparativeadvantageintheproductionoffoodwhileKoreahasacomparativeintheproductionofelectronics.

b.KoreahasacomparativeadvantageintheproductionoffoodwhileAustraliahasacomparativeadvantageintheproductionofelectronics.

c.Australiahasacomparativeadvantageintheproductionofbathfoodandelectronics.

d.Koreahasacomparativeadvantageintheproductionofbothfoodandelectronics.

4．Pricetakersrefertobuyersandsellersin

a.aperfectlycompetitivemarket.

b.amonopolisticlycompetitivemarket.

c.anoligopolisticmarket.

d.amonopolisticmarket.

5．Themostbasictoolsofeconomicsare

a.demandandsupply.

b.priceandquantity.

c.monetaryandfiscalpolicy.

d.elasticityofdemandandsupply.

6．Iftheminimumwageisabovetheequilibriumwage,

a.thequantitydemandedoflaborwillbegreaterthanthequantitysupplied.

b.thequantitydemandedoflaborwillequalthequantitysupplied.

c.thequantitydemandedoflaborwillbelessthanthequantitysupplied.

d.anyonewhowantsajobattheminimumwagecanfindone.

7．

Income

QuantityofGoodXPurchased

QuantityofGoodyPurchased

$30,000

20

$40,000

10

Accordingtothetable,GoodYis

a.notrelatedtoincome.

b.aninferiorgood.

c.priceinelastic.

d.anormalgood.

8．Accordingtothegraph,theamountofthetaxthatsellerswouldpaywouldbe

a.$1.00.

b.$1.50.

c.$2.00.

d.$3.00.

9．Whenataxisimposedonaproduct，quantitydemanded

a.willincreaseandquantitysuppliedwilldecrease.

b.willdecreaseandquantitysuppliedwillincrease.

c.andquantitysuppliedwillbothincrease.

d.andquantitysuppliedwillbothdecrease.

10．Wheatisthemaininputintheproductionofflour.Ifthepriceofwheatincreases,all

elseequal,wewouldexpectthe（）.

a.supplyofflourtobeunaffected.b.supplyofflourtodecrease.

c.supplyofflourtoincrease.d.demandforflourtodecrease.

11．Accordingtothegraph,whenthepricerisesfromP1toP2,whicharearepresentstheincreaseinproducersurplustoexistingproducers?

a.BCEb.ACF

c.ABEDd.DEF

12．Asituationinwhichthepricehasreachedthelevelwherequantitysuppliedequalsquantitydemandediscalled

a.scaleeconomyb.economy

c.equalityd.equilibriumquantity

13．Tradeamongnationsisultimatelybasedon

a.surplus

b.comparativeadvantage

c.goodsdifference

d.goodspreference

14．

AreaDrepresents:

a.governmentrevenuesasaresultoftariff.

b.gaininwelfareofdomesticconsumersasaresultoftariff.

c.deadweightlossfromoverproductionasaresultoftariff.

d.gaininwelfareofdomesticproducersasaresultoftariff.

15．Reachinganefficientbargainisdifficultwhenthe

a.externalityislarge.

b.numberofinterestedpartiesislarge.

c.externalityisnegative.

d.governmentbecomesinvolved.

16．Ifchildrenimposeanegativeexternality,thefollowingmustbetrue:

a.Parentswouldratherhavefewerchildren.

b.Parent'

scostsexceedthebenefitsassociatedwithhavingchildren.

c.Parentsdonotbearthefullcostimposedbytheirchildren.

d.Alloftheabovearetrue.

17．Alighthouseistypicallyconsideredagoodexampleofapublicgoodbecause

a.theownerofthelighthouseisabletoexcludebeneficiariesfromenjoyingthelighthouse.

b.thereisrarelyanotherlighthousenearbytoprovidecompetition.

c.anearbyportauthoritycannotavoidpayingfeestothelighthouseowner.

d.allpassingshipsareabletoenjoythebenefitsofthelighthousewithoutpaying.

18．EachofthefollowingwouldbeconsideredacommonresourceEXCEPT

a.cleanair.b.congestedroads.

c.nationaldefense.d.opengrazingland.

19．Themarginalproductoflaborisdefinedasthechangein

a.outputperadditionalunitofrevenue.

b.outputperadditionalunitoflabor.

c.revenueperadditionalunitoflabor.

d.revenueperadditionalunitofoutput.

20．Marginalcosttellsusthe.

a.valueofallresourcesusedinaproductionprocess.

b.marginalincrementtoprofitabilitywhenpriceisconstant.

c.amountbywhichtotalcostriseswhenoutputisincreasedbyoneunit.

d.amountbywhichoutputriseswhenlaborisincreasedbyoneunit.

21．Ataxforwhichhigh-incomeandlow-incometaxpayerspaythesamefractionofincomeiscalled

a.marginaltax

b.proportionaltax

c.progressivetax

d.regressivetax

22．Aprofit-maximizingfirminacompetitivemarketiscurrentlyproducing100unitsofoutput.Ithasaveragerevenueof$10,anditsaveragetotalcostis$8.Itfollowsthatthefirm'

s

a.averagetotalcostcurveintersectsthemarginalcostcurveatanoutputleveloflessthan100units.

b.averagevariablecostcurveintersectsthemarginalcostcurveatanoutputleveloflessthan100units.

c.profitis$200.

d.Alloftheabovearecorrect.

23．Economicprofitisequalto（）：

（i）totalrevenue–（explicitcosts+implicitcosts）

（ii）totalrevenue–opportunitycosts.

（iii）accountingprofit+implicitcosts.

a.（i）only

b.（i）and（ii）

c.（ii）and（iii）.

d.Alloftheabovearecorrect.

24．Anaturalmonopolist'

sabilitytopriceitsproductis

a.constrainedbythemarketdemandcurve.

b.constrainedbymarketsupply.

c.notaffectedbymarketdemand.

d.enhancedbyregulatorycontrolofthegovernment.

25．TheinformationinthetablebelowdepictsthetotaldemandforpremiumchanneldigitalcableTVsubscriptionsinasmallurbanmarket.AssumethateachdigitalcableTVoperatorpaysafixedcostof$100,000（peryear）toprovidepremiumdigitalchannelsinthemarketareaandthatthemarginalcostofprovidingthepremiumchannelservicetoahouseholdiszero.

QuantityPrice（peryear）

0$120

3,000$100

6,000$80

9,000$60

12,000$40

15,000$20

18,000$0

Assumethattherearetwoprofit-maximizingdigitalcableTVcompaniesoperatinginthismarket.Furtherassumethattheyareableto"

collude"

onpriceandquantityofpremiumdigitalchannelsubscriptionstosell.Aspartoftheircollusiveagreementtheydecidetotakeanequalshareofthemarket.Howmuchprofitwilleachcompanymake?

a.$170,000

b.$40,000

c.$480,000

d.$540,000

26．Astrategythatisbestforaplayerinagameregardlessofthestrategieschosenbytheotherplayersiscalled

a.topstrategy

b.beststrategy

c.dominantstrategy

d.perfectstrategy

27．Ignoringoligopolyandfocusingontheotherthreetypesofmarketstructure,inwhichofthosemarketstructuresdoesaprofit-maximizingfirmchargeapricethatexceedsmarginalcost?

a.monopolyonly

b.monopolyandmonopolisticcompetitiononly

c.monopoly,monopolisticcompetition,andperfectcompetition

d.Itdependsonwhetherweareintheshortrunorthelongrun.

28．"

Inalong-runequilibrium,priceisequaltoaveragetotalcost."

Thisstatement

appliesto.

a.competitivemarkets,butnottomonopolisticallycompetitivemarketsor

monopolies.

b.competitiveandmonopolisticallycompetitivemarkets,butnottomonopolies.

c.competitiveandmonopolisticallycompetitivemarketsandtomonopolies.

d.Noneoftheaboveiscorrect.

29．Economistshavedefendedbrandnamesasausefulwayforconsumerstoensurethatthegoodstheybuyareof

a.averagequalityb.bestquality

c.lowqualityd.highquality

30．Inmonopolisticallycompetitivemarkets,thepropertyoffreeentryandexitsuggests

that.

a.themarketstructurewilleventuallybecharacterizedbyperfectcompetitionin

thelongrun.

b.allfirmsearnzeroeconomicprofitsinthelongrun.

c.somefirmswillbeabletoearneconomicprofitsinthelongrun.

d.somefirmswillbeforcedtoincureconomiclossesinthelongrun.

31．IfthepriceofasubstitutetogoodXincreases,thenthe

a.demandforgoodXwilldecrease.b.marketpriceofgoodXwilldecrease.

c.demandforgoodXwillincrease.d.quantitydemandedforgoodXwillincrease.

32．Savingandborrowingbehaviorisindicativeofafamily

a.thatismostlikelytobepoor.

b.thathasadifficulttimebalancingitsstandardofliving.

c.adjustingitsstandardoflivingtoreflecttransitorychangesinincome.

d.thatismostlikelytobeontheupperendoftheincomedistribution.

33．

Hoursneededtomakeoneunitof:

Amountproducedin2400hours:

Cars

Airplanes

U.S.

40

160

60

15

Japan

50

150

48

16

Accordingtothetableshown,Japanhasacomparativeadvantagein

a.airplanesandtheUnitedStateshasanabsoluteadvantageincars.

b.carsandtheUnitedStateshasanabsoluteadvantageinairplanes.

c.carsandtheUnitedStateshasanabsoluteadvantageinneithergood.

d.airplanesandtheUnitedStateshasanabsoluteadvantageinbothgoods.

34.Anoligopolyisamarketinwhich

a.thereareonlyafewsellers,eachofferingaproductsimilaroridenticaltothe

others.

b.firmsarepricetakers.

c.theactionsofonesellerinthemarkethavenoimpactontheothersellers’

profits.

35.BenefitsfromfreetradeincludeeachofthefollowingEXCEPT

a.increasedvarietyofgoods.

b.lowercostsbecauseofeconomiesofscale.

c.enhancedflowofideas.

d.reducedcompetition.

36．Ofthefo