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

Chapter10

MultipleChoice

1.Inamarketeconomy,governmentintervention

a.willalwaysimprovemarketoutcomes.

b.reducesefficiencyinthepresenceofexternalities.

c.mayimprovemarketoutcomesinthepresenceofexternalities.

d.isnecessarytocontrolindividualgreed.

ANS:

CPTS:

1DIF:

1REF:

10-0

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ExternalitiesMSC:

Applicative

2.Intheabsenceofexternalities,the"invisiblehand"leadsamarkettomaximize

a.producerprofitfromthatmarket.

b.totalbenefittosocietyfromthatmarket.

c.bothequityandefficiencyinthatmarket.

d.outputofgoodsorservicesinthatmarket.

ANS:

BPTS:

1DIF:

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10-0

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3.Oneadvantagemarketeconomieshaveoverothertypesofeconomiesisthatmarketeconomies

a.provideanequaldistributionofgoodsandservicestoconsumers.

b.establishgovernmenteconomiccontrol.

c.solvetheproblemofscarcity.

d.aremoreefficient.

ANS:

DPTS:

1DIF:

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4.Thetermmarketfailurerefersto

a.amarketthatfailstoallocateresourcesefficiently.

b.anunsuccessfuladvertisingcampaignwhichreducesdemand.

c.ruthlesscompetitionamongfirms.

d.afirmthatisforcedoutofbusinessbecauseoflosses.

ANS:

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1DIF:

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Definitional

5.Marketfailurecanbecausedby

a.toomuchcompetition.

b.externalities.

c.lowconsumerdemand.

d.scarcity.

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6.Anexternalityistheimpactof

a.society'sdecisionsonthewell-beingofsociety.

b.aperson'sactionsonthatperson'swell-being.

c.oneperson'sactionsonthewell-beingofabystander.

d.society'sdecisionsonthepoorestpersoninthesociety.

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7.Theimpactofoneperson'sactionsonthewell-beingofabystanderiscalled

a.aneconomicdilemma.

b.deadweightloss.

c.amulti-partyproblem.

d.anexternality.

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8.Anexternality

a.isatypeofmarketfailure.

b.causesmarketstoallocateresourcesefficiently.

c.strengthenstheroleofthe“invisiblehand”inthemarketplace.

d.affectsproducersbutnotconsumers.

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9.Dogownersdonotbearthefullcostofthenoisetheirbarkingdogscreateandoftentaketoofewprecautionstopreventtheirdogsfrombarking.Localgovernmentsaddressthisproblemby

a.makingitillegalto"disturbthepeace."

b.havingawell-fundedanimalcontroldepartment.

c.subsidizinglocalanimalshelters.

d.encouragingpeopletoadoptcats.

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10.Anexternalityis

a.thecoststhatpartiesincurintheprocessofagreeingandfollowingthroughonabargain.

b.theuncompensatedimpactofoneperson'sactionsonthewell-beingofabystander.

c.thepropositionthatprivatepartiescanbargainwithoutcostovertheallocationofresources.

d.amarketequilibriumtax.

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11.Anexternalityisanexampleof

a.acorrectivetax.

b.atradablepollutionpermit.

c.amarketfailure.

d.Bothaandbarecorrect.

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12.Anexternalityexistswhenever

a.theeconomycanbenefitfromgovernmentintervention.

b.marketsarenotabletoreachequilibrium.

c.afirmsellsitsproductinaforeignmarket.

d.apersonengagesinanactivitythatinfluencesthewell-beingofabystanderandyetneitherpaysnorreceivespaymentforthateffect.

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13.Whenexternalitiesarepresentinamarket,thewell-beingofmarketparticipants

a.andmarketbystandersarebothdirectlyaffected.

b.andmarketbystandersarebothindirectlyaffected.

c.isdirectlyaffected,andmarketbystandersareindirectlyaffected.

d.isindirectlyaffected,andmarketbystandersaredirectlyaffected.

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14.Whichofthefollowingstatementsaboutawell-maintainedyardbestconveysthegeneralnatureoftheexternality?

a.Awell-maintainedyardconveysapositiveexternalitybecauseitincreasesthehome'smarketvalue.

b.Awell-maintainedyardconveysanegativeexternalitybecauseitincreasesthepropertytaxliabilityoftheowner.

c.Awell-maintainedyardconveysapositiveexternalitybecauseitincreasesthevalueofadjacentpropertiesintheneighborhood.

d.Awell-maintainedyardcannotprovideanytypeofexternality.

ANS:

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15.Sincerestoredhistoricbuildingsconveyapositiveexternality,localgovernmentsmaychooseto

a.regulationthedemolitionofthem.

b.providetaxbreakstoownerswhorestorethem.

c.increasepropertytaxesinhistoricareas.

d.Bothaandbarecorrect.

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16.Externalities

a.causemarketstofailtoallocateresourcesefficiently.

b.causeequilibriumpricestobetoohigh.

c.benefitproducersattheexpenseofconsumers.

d.causeequilibriumpricestobetoolow.

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17.Whenexternalitiesexist,buyersandsellers

a.neglecttheexternaleffectsoftheiractions,butthemarketequilibriumisstillefficient.

b.donotneglecttheexternaleffectsoftheiractions,andthemarketequilibriumisefficient.

c.neglecttheexternaleffectsoftheiractions,andthemarketequilibriumisnotefficient.

d.donotneglecttheexternaleffectsoftheiractions,andthemarketequilibriumisnotefficient.

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18.Dioxinemissionthatresultsfromtheproductionofpaperisagoodexampleofanegativeexternalitybecause

a.self-interestedpaperfirmsaregenerallyunawareofenvironmentalregulations.

b.therearefinesforproducingtoomuchdioxin.

c.self-interestedpaperproducerswillnotconsiderthefullcostofthedioxinpollutiontheycreate.

d.toxicemissionsarethebestexampleofanexternality.

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19.Ifapapermanufacturerdoesnotbeartheentirecostofthedioxinitemits,itwill

a.emitalowerlevelofdioxinthanissociallyefficient.

b.emitahigherlevelofdioxinthanissociallyefficient.

c.emitanacceptablelevelofdioxin.

d.notemitanydioxininanattempttoavoidpayingtheentirecost.

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20.OneoftheTenPrinciplesofEconomicsisthat"marketsareusuallyagoodwaytoorganizemarketbehavior."Thisstatementdoesnotimplywhichofthefollowing?

a.Somemarketsproducenegativeexternalities.

b.Theinvisiblehandofthemarketplacedoesnotalwaysleadbuyersandsellerstomaximizetotalbenefittosociety.

c.Somemarketsarecharacterizedbymarketfailure.

d.Othertypesofeconomiesaremoreefficientthanmarketeconomies.

ANS:

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21.Whichofthefollowingisanexampleofanexternality?

a.cigarettesmokethatpermeatesanentirerestaurant

b.aflushotthatpreventsastudentfromtransmittingthevirustoherroommate

c.abeautifulflowergardenoutsideofthelocalpostoffice

d.Alloftheabovearecorrect.

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22.Whichofthefollowingstatementsisnotcorrect?

a.Governmentpoliciesmayimprovethemarket'sallocationofresourceswhennegativeexternalitiesarepresent.

b.Governmentpoliciesmayimprovethemarket'sallocationofresourceswhenpositiveexternalitiesarepresent.

c.Apositiveexternalityisanexampleofamarketfailure.

d.Withoutgovernmentintervention,themarketwilltendtoundersupplyproductsthatproducenegativeexternalities.

ANS:

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23.Whichofthefollowingrepresentsawaythatagovernmentcanhelptheprivatemarkettointernalizeanexternality?

a.taxinggoodsthathavenegativeexternalities

b.subsidizinggoodsthathavepositiveexternalities

c.Thegovernmentcannotimproveupontheoutcomesofprivatemarkets.

d.Bothaandbarecorrect.

ANS:

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24.Whenexternalitiesarepresentinamarket,

a.themarketequilibriummaximizesthetotalbenefittosocietyasawhole.

b.participantslosesomemarketbenefitstobystanders.

c.firmsproducetoomuchoutput.

d.themarketfailstoallocateresourcesefficiently.

ANS:

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25.Ifanexternalityispresentinamarket,economicefficiencymaybeenhancedby

a.increasedcompetition.

b.weakeningpropertyrights.

c.betterinformedmarketparticipants.

d.governmentintervention.

ANS:

DPTS:

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26.Ifasawmillcreatestoomuchnoiseforlocalresidents,

a.noiserestrictionswillforceresidentstomoveoutofthearea.

b.asenseofsocialresponsibilitywillcauseownersofthemilltoreducenoiselevels.

c.thegovernmentcanraiseeconomicwell-beingthroughnoise-controlregulations.

d.thegovernmentshouldavoidinterveningbecausethemarketwillallocateresourcesefficiently.

ANS:

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27.Privatemarketsfailtoaccountforexternalitiesbecause

a.externalitiesdon'toccurinprivate