经济学原理对应练习10.docx

经济学原理对应练习10.docx

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经济学原理对应练习10

Chapter10Externalities

MultipleChoice

1.Inamarketeconomy,governmentintervention

a.willalwaysimprovemarketoutcomes.

b.reducesefficiencyinthepreseneeofexternalities.

c.mayimprovemarketoutcomesinthepreseneeofexternalities.

d.isnecessarytocontrolindividualgreed.

ANS:

CPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

2.Intheabsenceofexternalities,the"invisiblehand"leadsamarkettomaximize

a.producerprofitfromthatmarket.

b.totalbenefittosocietyfromthatmarket.

c.bothequityandefficiencyinthatmarket.

d.outputofgoodsorservicesinthatmarket.

ANS:

BPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

3.Oneadvantagemarketeconomieshaveoverothertypesofeconomiesisthatmarketeconomies

a.provideanequaldistributionofgoodsandservicestoconsumers.

b.establishgovernmenteconomiccontrol.

c.solvetheproblemofscarcity.

d.aremoreefficient.

ANS:

DPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

4.Thetermmarketfailurerefersto

a.amarketthatfailstoallocateresourcesefficiently.

b.anunsuccessfuladvertisingcampaignwhichreducesdemand.

c.ruthlesscompetitionamongfirms.

d.afirmthatisforcedoutofbusinessbecauseoflosses.

ANS:

APTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Definitional

5.Marketfailurecanbecausedby

a.toomuchcompetition.

b.externalities.

c.lowconsumerdemand.

d.scarcity.

ANS:

BPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Interpretive

6.Anexternalityistheimpactof

a.society'sdecisionsonthewell-beingofsociety.

b.aperson'sactionsonthatperson'swell-being.

c.oneperson'sactionsonthewell-beingofabystander.

d.society'sdecisionsonthepoorestpersoninthesociety.

ANS:

CPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Definitional

7.Theimpactofoneperson'sactionsonthewell-beingofabystanderiscalled

a.aneconomicdilemma.

b.deadweightloss.

c.amulti-partyproblem.

d.anexternality.

ANS:

DPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

8.Anexternality

a.isatypeofmarketfailure.

b.causesmarketstoallocateresourcesefficiently.

c.strengthenstheroleofthe“invisiblehand”inthemarketplace.

d.affectsproducersbutnotconsumers.

ANS:

APTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Interpretive

9.Dogownersdonotbearthefullcostofthenoisetheirbarkingdogscreateandoftentaketoofewprecautionstopreventtheirdogsfrombarking.Localgovernmentsaddressthisproblemby

a.makingitillegalto"disturbthepeace."

b.havingawell-fundedanimalcontroldepartment.

c.subsidizinglocalanimalshelters.

d.encouragingpeopletoadoptcats.

ANS:

APTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

10.Anexternalityis

a.thecoststhatpartiesincurintheprocessofagreeingandfollowingthroughonabargain.

b.theuncompensatedimpactofoneperson'sactionsonthewell-beingofabystander.

c.thepropositionthatprivatepartiescanbargainwithoutcostovertheallocationofresources.

d.amarketequilibriumtax.

ANS:

BPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Definitional

11.Anexternalityisanexampleof

a.acorrectivetax.

b.atradablepollutionpermit.

c.amarketfailure.

d.Bothaandbarecorrect.

ANS:

CPTS:

1DIF:

1REF:

10-0

TOP:

ExternalitiesMSC:

Applicative

12.Anexternalityexistswhenever

a.theeconomycanbenefitfromgovernmentintervention.

b.marketsarenotabletoreachequilibrium.

c.afirmsellsitsproductinaforeignmarket.

d.apersonengagesinanactivitythatinfluencesthewell-beingofabystanderandyetneitherpaysnorreceivespaymentforthateffect.

ANS:

DPTS:

1DIF:

2REF:

10-0

TOP:

ExternalitiesMSC:

Definitional

13.Whenexternalitiesarepresentinamarket,thewell-beingofmarketparticipants

a.andmarketbystandersarebothdirectlyaffected.

b.andmarketbystandersarebothindirectlyaffected.

c.isdirectlyaffected,andmarketbystandersareindirectlyaffected.

d.isindirectlyaffected,andmarketbystandersaredirectlyaffected.

ANS:

CPTS:

1DIF:

2REF:

10-0

TOP:

ExternalitiesMSC:

Analytical

14.Whichofthefollowingstatementsaboutawell-maintainedyardbestconveysthegeneralnatureoftheexternality

a.Awell-maintainedyardconveysapositiveexternalitybecauseitincreasesthehome'smarketvalue.

b.Awell-maintainedyardconveysanegativeexternalitybecauseitincreasesthepropertytaxliabilityoftheowner.

c.Awell-maintainedyardconveysapositiveexternalitybecauseitincreasesthevalueofadjacentpropertiesintheneighborhood.

d.Awell-maintainedyardcannotprovideanytypeofexternality.ANS:

CPTS:

1DIF:

2REF:

10-0TOP:

ExternalitiesMSC:

Applicative

15.Sincerestoredhistoricbuildingsconveyapositiveexternality,localgovernmentsmaychooseto

a.regulationthedemo