经济学原理 微观 第五版测试题库 04Word格式.docx

1、NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market economies MSC: Definitional2. In a market economy, supply and demand determine both the quantity of each good produced and the price at which it is sold.3. A market is a group of buyers and sellers of a particular good or serv

2、ice. 4-1 Markets MSC:4. Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product. F DIF: Supply and demand TOP: Demand | SupplyMSC:5. A yard sale is an example of a market. 2 REF: Applicative6. A newspapers classified ads are an example of a mark

3、et.7. Most markets in the economy are highly competitive.8. In a competitive market, the quantity of each good produced and the price at which it is sold are not determined by any single buyer or seller. Competitive markets MSC:9. In a competitive market, there are so few buyers and so few sellers t

4、hat each has a significant impact on the market price.10. In a perfectly competitive market, the goods offered for sale are all exactly the same. Perfect competition TOP: Perfect competition11. In a perfectly competitive market, buyers and sellers are price setters.12. All goods and services are sol

5、d in perfectly competitive markets.13. If a good or service has only one seller, then the seller is called a monopoly. Monopoly TOP: Monopoly MSC:14. Monopolists are price takers. Interpretive15. Local cable TV companies frequently are monopolists.16. The quantity demanded of a product is the amount

6、 that buyers are willing and able to purchase at a particular price. 4-2 Quantity demanded17. The law of demand is true for most goods in the economy. Law of demand18. The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when

7、 the price falls, the quantity demanded falls.19. The demand curve is the upward-sloping line relating price and quantity demanded. Demand curve20. Individual demand curves are summed horizontally to obtain the market demand curve. Market demand curve21. The market demand curve shows how the total q

8、uantity demanded of a good varies as the income of buyers varies, while all the other factors that affect how much consumers want to buy are held constant.22. If something happens to alter the quantity demanded at any given price, then the demand curve shifts.23. A movement upward and to the left al

9、ong a given demand curve is called a decrease in demand.24. An increase in demand shifts the demand curve to the left.25. If the demand for a good falls when income falls, then the good is called an inferior good. Normal goods26. When Marios income decreases, he buys more pasta. For Mario, pasta is

10、a normal good. Inferior goods27. A decrease in income will shift the demand curve for an inferior good to the right.28. An increase in the price of a substitute good will shift the demand curve for a good to the right. Substitutes29. Baseballs and baseball bats are substitute goods. Complements30. A

11、 decrease in the price of a complement will shift the demand curve for a good to the left.31. When an increase in the price of one good lowers the demand for another good, the two goods are called complements.32. Cocoa and marshmallows are complements, so a decrease in the price of cocoa will cause

12、an increase in the demand for marshmallows.33. If a person expects the price of socks to increase next month, then that persons current demand for socks will increase. Expectations34. A decrease in the price of a product and an increase in the number of buyers in the market affect the demand curve i

13、n the same general way.35. Whenever a determinant of demand other than price changes, the demand curve shifts.36. An increase in the price of pizza will shift the demand curve for pizza to the left.37. Public service announcements, mandatory health warnings on cigarette packages, and the prohibition

14、 of cigarette advertising on television are all policies aimed at shifting the demand curve for cigarettes to the right.38. Most studies have found that tobacco and marijuana are complements rather than substitutes.39. The quantity supplied of a good or service is the amount that sellers are willing

15、 and able to sell at a particular price. 4-3 Quantity supplied40. When the price of a good is high, selling the good is profitable, and so the quantity supplied is large. Law of supply41. When the price of a good is low, selling the good is profitable, and so the quantity supplied is large.42. Price

16、 cannot fall so low that some sellers choose to supply a quantity of zero.43. The law of supply states that, other things equal, when the price of a good rises, the quantity supplied of the good falls.44. The law of supply states that, other things equal, when the price of a good falls, the quantity

17、 supplied falls as well.45. If a higher price means a greater quantity supplied, then the supply curve slopes upward. Supply curve46. Individual supply curves are summed vertically to obtain the market supply curve. Market supply curve47. The market supply curve shows how the total quantity supplied of a good varies as input prices vary, holding constant all the other factors that influence producers decisions about how much to sell.48. If something happens to alter the quantity supplied at any given price, then we move along t