《经济学概论》复习题.docx

1、经济学概论复习题经济学概论复习题一、选择题1 Complete market failure always exists when （ ）A there are negative externalities in production.B the free market fails to provide sufficient merit goods.C the free market under-prices demerit goods.D there is a missing market in the provision of public goods.2 Which one of the

2、 following situations would lead to an increase in equilibrium price? （ ）A Demand is perfectly inelastic and labor costs riseB Demand is perfectly elastic and labor costs riseC Supply is perfectly elastic and the price of a substitute good fallsD Demand is perfectly inelastic and labor costs fall3.

3、The diagram above shows the demand and supply curves for a normal good. The equilibrium price could rise from P1 to P2 if (a) consumers incomes increased(b) P2 were set as a legal maximum(c) subsidies on the product increased(d) the price of a complementary product increased(e) costs of production w

4、ere substantially loweredAnswer:A4. A perfectly competitive producer of steel rods and steel beams employs 100 workers with identical skills. If steel rods and steel beams sell for the same price, which of the following rules should the producer always follow to use the 100 workers efficiently?I. Al

5、locate workers so that the average cost of producing beams equals the average cost of producing rods.II. Allocate workers so that the marginal product of labor is the same in both rod production and beam production.III. Allocate half the workers to rod production and half the workers to beam product

6、ion.(a) I only(b) II only(c) III only(d) II and III only(e) I, II, and III5. Assume a consumer finds that his total expenditure on compact discs stays the same after the price of compact discs declines. Which of the following is true for this price change?(a) Compact discs are inferior goods to this

7、 consumer.(b) The consumers demand for compact discs increased in response to the price change.(c) The consumers demand for compact discs is perfectly price elastic.(d) The consumers demand for compact discs is perfectly price inelastic.(e) The consumers demand for compact discs is unit price elasti

8、c. Answer: E6. As its output increases, a firms short-run marginal cost will eventually increase because of(a) diseconomies of scale(b) a lower product price(c) inefficient production(d) the firms need to break even(e) diminishing returnsAnswer: E7. For a firm hiring labor in a perfectly competitive

9、 labor market, the marginal revenue product curve slopes downward after some point because as more of a factor is employed, which of the following declines?(a) Marginal product(b) Marginal factor cost(c) Marginal cost(d) Total output(e) Wage ratesAnswer: A8. Which of the following is always true of

10、the relationship between average and marginal costs?(a) Average total costs are increasing when marginal costs are increasing.(b) Marginal costs are increasing when average variable costs are higher than marginal costs.(c) Average variable costs are increasing when marginal costs are increasing.(d)

11、Average variable costs are increasing when marginal costs are higher than average variable costs.(e) Average total costs are constant when marginal costs are constant.Answer: DQuestions 910 refer to the following diagram and assume a perfectly competitive market structure.9. At the price 0A, economi

12、c profits are(a) ABJG (b) ABKH (c) ABLI (d) ACMG (e) C0FMAnswer:B10. In the short run, the firm will stop production when the price falls below(a) 0A (b) 0B (c) 0C (d) 0D (e) 0EAnswer : DFish WheatCountry A 10 labor-hours 20 labor-hoursCountry B 20 labor-hours 60 labor-hours11. The table above indic

13、ates labor-hours needed to produce a single unit of each of two commodities in each of two countries. If labor is the only factor used to produce the commodities, which of the following statements must be correct?I. Country A has an absolute advantage in the production of both commodities, but a com

14、parative advantage in the production of wheat.II. Country B has an absolute advantage in the production of both commodities, but a comparative advantage in the production of fish.III. Mutually advantageous trade can occur between the two countries when 2.5 units of fish are exchanged for 1 unit of w

15、heat.(a) I only(b) II only(c) III only(d) I and III only(e) II and III onlyAnswer: D12. Suppose that the consumer price index rises from 100 to 200. From this information we may conclude that(a) each persons real income is cut in half(b) consumer incomes are doubled(c) the prices in an average consu

16、mers market basket are doubled(d) all consumer goods prices are doubled(e) all prices in the economy are doubledAnswer:c13. In the graph above, AD denotes the aggregate demand curve, SRAS the short-run aggregate supply curve, and LRAS the long-run aggregate supply curve. If no policy action were tak

17、en, which of the following changes would move the economy to its long-run equilibrium?(a) An increase in aggregate demand(b) An increase in exports(c) An increase in wages(d) A decrease in wages(e) A decrease in the expected price levelAnswer:C14. Suppose that a national government increased deficit

18、 spending on goods and services, increasing its demand for loanable funds. In the long run, this policy would most likely result in which of the following changes in this country? RealInterest Rate Investment(a) Decrease Decrease(b) Decrease Increase(c) Increase Decrease(d) Increase No change(e) No

19、change Increase15. In an economy with lump-sum taxes and no international trade, if the marginal propensity to consume is 0.8, which of the following is true?(a) When consumption increases by $5, investment increases by a maximum of $1.(b) When consumption increases by $5, savings increase by a maxi

20、mum of $1.(c) When investment increases by $1, income increases by a maximum of $5.(d) When investment increases by $1, consumption increases by a maximum of $5.(e) When income increases by $1, investment increases by a maximum of $5.Answer:c16. If the government increases expenditures on goods and

21、services and increases taxation by the same amount, which of the following will occur?(a) Aggregate demand will be unchanged.(b) Aggregate demand will increase.(c) Interest rates will decrease.(d) The money supply will decrease.(e) The money supply will increase.Answer: B17. On a short-run Phillips

22、curve, high rates of inflation coincide with(a) high interest rates(b) low interest rates(c) high unemployment rates(d) low unemployment rates(e) low discount ratesAnswer:D18. If the reserve requirement is 25 percent and banks hold no excess reserves, an open market sale of $400,000 of government se

23、curities by the Federal Reserve will(a) increase the money supply by up to $1.6 million(b) decrease the money supply by up to $1.6 million(c) increase the money supply by up to $300,000(d) increase the money supply by up to $100,000(e) decrease the money supply by up to $100,000Answer: B19. A stimul

24、ative fiscal policy combined with a restrictive monetary policy will necessarily cause(a) gross domestic product to increase(b) gross domestic product to decrease(c) interest rates to fall(d) interest rates to rise(e) the federal budget deficit to decreaseAnswer: D20. If nominal gross domestic produ

25、ct fell while real gross domestic product rose, which of the following must be true?(a) Unemployment increased.(b) The inflation rate was negative.(c) Net exports were negative.(d) The average of stock prices rose while bond prices fell.(e) Nominal interest rates rose by less than the rate of inflat

26、ion.Answer:B二、名词解释（每小题3分,共18分）【得分： 】1. Economics:Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is

27、 a driving force of human interaction, studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics.2. Opportunity Cost:Opportunity cost of a choice is the value of the best alternative forgone, in a situatio

28、n in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the cost incurred by not enjoying the benefit that would be had by taking the second best choice available.3. Factors of ProductionFactors of producti

29、on are the inputs to the production process. Finished goods are the output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. There

30、are four basic factors of production: land, labor, capital and entrepreneurship.4. Supply and Demand:Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where

31、the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium for price and quantity.The four basic laws of supply and demand are:1).If demand increases and supply remains unchanged, a shortage occurs, lea

32、ding to a higher equilibrium price.2). If demand decreases and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.3). If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price.4). If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher equilib