微观复习题Word下载.docx

1、 （ ）a. Australia has a comparative advantage in the production of food while Korea has a comparative in the production of electronics.b. Korea has a comparative advantage in the production of food while Australia has a comparative advantage in the production of electronics.c. Australia has a compara

2、tive advantage in the production of bath food and electronics.d. Korea has a comparative advantage in the production of both food and electronics.4Price takers refer to buyers and sellers in a. a perfectly competitive market. b. a monopolisticly competitive market. c. an oligopolistic market. d. a m

3、onopolistic market.5The most basic tools of economics are a. demand and supply. b. price and quantity. c. monetary and fiscal policy. d. elasticity of demand and supply.6If the minimum wage is above the equilibrium wage, a. the quantity demanded of labor will be greater than the quantity supplied. b

4、. the quantity demanded of labor will equal the quantity supplied. c. the quantity demanded of labor will be less than the quantity supplied. d. anyone who wants a job at the minimum wage can find one.7IncomeQuantity of Good X Purchased Quantity of Good y Purchased$30,00020$40,00010According to the

5、table, Good Y is a. not related to income. b. an inferior good. c. price inelastic. d. a normal good.8According to the graph, the amount of the tax that sellers would pay would be a. $1.00. b. $1.50. c. $2.00. d. $3.00.9When a tax is imposed on a product，quantity demanded a. will increase and quanti

6、ty supplied will decrease. b. will decrease and quantity supplied will increase. c. and quantity supplied will both increase. d. and quantity supplied will both decrease. 10Wheat is the main input in the production of flour. If the price of wheat increases, allelse equal, we would expect the（ ）.a. s

7、upply of flour to be unaffected. b. supply of flour to decrease.c. supply of flour to increase. d. demand for flour to decrease.11According to the graph, when the price rises from P1 to P2, which area represents the increase in producer surplus to existing producers? a. BCE b. ACF c. ABED d. DEF 12A

8、 situation in which the price has reached the level where quantity supplied equals quantity demanded is called a. scale economy b. economy c. equality d. equilibrium quantity13Trade among nations is ultimately based on a. surplus b. comparative advantage c. goods difference d. goods preference14Area

9、 D represents:a. government revenues as a result of tariff.b. gain in welfare of domestic consumers as a result of tariff.c. deadweight loss from overproduction as a result of tariff.d. gain in welfare of domestic producers as a result of tariff.15Reaching an efficient bargain is difficult when thea

10、. externality is large.b. number of interested parties is large.c. externality is negative.d. government becomes involved.16If children impose a negative externality, the following must be true:a. Parents would rather have fewer children.b. Parents costs exceed the benefits associated with having ch

11、ildren.c. Parents do not bear the full cost imposed by their children.d. All of the above are true.17A lighthouse is typically considered a good example of a public good because a. the owner of the lighthouse is able to exclude beneficiaries from enjoying the lighthouse. b. there is rarely another l

12、ighthouse nearby to provide competition. c. a nearby port authority cannot avoid paying fees to the lighthouse owner. d. all passing ships are able to enjoy the benefits of the lighthouse without paying.18Each of the following would be considered a common resource EXCEPT a. clean air. b. congested r

13、oads. c. national defense. d. open grazing land.19The marginal product of labor is defined as the change ina. output per additional unit of revenue.b. output per additional unit of labor.c. revenue per additional unit of labor.d. revenue per additional unit of output.20Marginal cost tells us the.a.

14、value of all resources used in a production process.b. marginal increment to profitability when price is constant.c. amount by which total cost rises when output is increased by one unit.d. amount by which output rises when labor is increased by one unit.21A tax for which high-income and low-income

15、taxpayers pay the same fraction of income is called a. marginal tax b. proportional tax c. progressive tax d. regressive tax22A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, and its average total cost is $8. It follows that

16、the firms a. average total cost curve intersects the marginal cost curve at an output level of less than100 units. b. average variable cost curve intersects the marginal cost curve at an output level of less than 100 units. c. profit is $200. d. All of the above are correct.23Economic profit is equa

17、l to（ ）：（i）total revenue （explicit costs + implicit costs） （ii） total revenue opportunity costs. （iii） accounting profit + implicit costs.a. （i） only b. （i） and （ii）c. （ii） and （iii）.d. All of the above are correct.24A natural monopolists ability to price its product is a. constrained by the market

18、demand curve. b. constrained by market supply. c. not affected by market demand. d. enhanced by regulatory control of the government.25The information in the table below depicts the total demand for premium channel digital cable TV subscriptions in a small urban market. Assume that each digital cabl

19、e TV operator pays a fixed cost of $100,000 （per year） to provide premium digital channels in the market area and that the marginal cost of providing the premium channel service to a household is zero.Quantity Price （per year） 0 $120 3,000 $100 6,000 $80 9,000 $60 12,000 $40 15,000 $20 18,000 $0Assu

20、me that there are two profit-maximizing digital cable TV companies operating in this market. Further assume that they are able to collude on price and quantity of premium digital channel subscriptions to sell. As part of their collusive agreement they decide to take an equal share of the market. How

21、 much profit will each company make? a. $170,000 b. $40,000 c. $480,000 d. $540,00026A strategy that is best for a player in a game regardless of the strategies chosen by the other players is called a. top strategy b. best strategy c. dominant strategy d. perfect strategy27Ignoring oligopoly and foc

22、using on the other three types of market structure, in which of those market structures does a profit-maximizing firm charge a price that exceeds marginal cost? a. monopoly only b. monopoly and monopolistic competition only c. monopoly, monopolistic competition, and perfect competition d. It depends

23、 on whether we are in the short run or the long run.28In a long-run equilibrium, price is equal to average total cost. This statement applies to. a. competitive markets, but not to monopolistically competitive markets or monopolies. b. competitive and monopolistically competitive markets, but not to

24、 monopolies. c. competitive and monopolistically competitive markets and to monopolies. d. None of the above is correct.29Economists have defended brand names as a useful way for consumers to ensure that the goods they buy are of a. average quality b. best quality c. low quality d. high quality30In

25、monopolistically competitive markets, the property of free entry and exit suggests that.a. the market structure will eventually be characterized by perfect competition inthe long run.b. all firms earn zero economic profits in the long run.c. some firms will be able to earn economic profits in the lo

26、ng run.d. some firms will be forced to incur economic losses in the long run.31If the price of a substitute to good X increases, then the a. demand for good X will decrease. b. market price of good X will decrease. c. demand for good X will increase. d. quantity demanded for good X will increase.32S

27、aving and borrowing behavior is indicative of a family a. that is most likely to be poor. b. that has a difficult time balancing its standard of living. c. adjusting its standard of living to reflect transitory changes in income. d. that is most likely to be on the upper end of the income distributi

28、on.33Hours needed to make one unit of:Amount produced in 2400 hours:CarsAirplanesU.S. 401606015Japan501504816According to the table shown, Japan has a comparative advantage in a. airplanes and the United States has an absolute advantage in cars. b. cars and the United States has an absolute advantag

29、e in airplanes. c. cars and the United States has an absolute advantage in neither good. d. airplanes and the United States has an absolute advantage in both goods.34. An oligopoly is a market in whicha. there are only a few sellers, each offering a product similar or identical to theothers.b. firms

30、 are price takers.c. the actions of one seller in the market have no impact on the other sellersprofits.35. Benefits from free trade include each of the following EXCEPTa. increased variety of goods.b. lower costs because of economies of scale.c. enhanced flow of ideas.d. reduced competition.36Of the fo