经济学原理对应练习 10.docx

1、经济学原理对应练习 10Chapter 10Multiple Choice 1. In a market economy, government intervention a. will always improve market outcomes.b. reduces efficiency in the presence of externalities.c. may improve market outcomes in the presence of externalities.d. is necessary to control individual greed.ANS: C PTS:

2、1 DIF: 1 REF: 10-0TOP: Externalities MSC: Applicative 2. In the absence of externalities, the invisible hand leads a market to maximizea. producer profit from that market.b. total benefit to society from that market.c. both equity and efficiency in that market.d. output of goods or services in that

3、market.ANS: B PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Applicative 3. One advantage market economies have over other types of economies is that market economiesa. provide an equal distribution of goods and services to consumers.b. establish government economic control.c. solve the problem of s

4、carcity.d. are more efficient.ANS: D PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Applicative 4. The term market failure refers toa. a market that fails to allocate resources efficiently.b. an unsuccessful advertising campaign which reduces demand.c. ruthless competition among firms.d. a firm that

5、 is forced out of business because of losses.ANS: A PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Definitional 5. Market failure can be caused bya. too much competition.b. externalities.c. low consumer demand.d. scarcity.ANS: B PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Interpretive 6. An exter

6、nality is the impact ofa. societys decisions on the well-being of society.b. a persons actions on that persons well-being.c. one persons actions on the well-being of a bystander.d. societys decisions on the poorest person in the society.ANS: C PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Definitio

7、nal 7. The impact of one persons actions on the well-being of a bystander is calleda. an economic dilemma.b. deadweight loss.c. a multi-party problem.d. an externality.ANS: D PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Applicative 8. An externalitya. is a type of market failure.b. causes markets

8、to allocate resources efficiently.c. strengthens the role of the “invisible hand” in the marketplace.d. affects producers but not consumers.ANS: A PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Interpretive 9. Dog owners do not bear the full cost of the noise their barking dogs create and often take

9、 too few precautions to prevent their dogs from barking. Local governments address this problem bya. making it illegal to disturb the peace.b. having a well-funded animal control department.c. subsidizing local animal shelters.d. encouraging people to adopt cats.ANS: A PTS: 1 DIF: 1 REF: 10-0TOP: Ex

10、ternalities MSC: Applicative 10. An externality isa. the costs that parties incur in the process of agreeing and following through on a bargain.b. the uncompensated impact of one persons actions on the well-being of a bystander.c. the proposition that private parties can bargain without cost over th

11、e allocation of resources.d. a market equilibrium tax.ANS: B PTS: 1 DIF: 1 REF: 10-0TOP: Externalities MSC: Definitional 11. An externality is an example ofa. a corrective tax.b. a tradable pollution permit.c. a market failure.d. Both a and b are correct.ANS: C PTS: 1 DIF: 1 REF: 10-0TOP: Externalit

12、ies MSC: Applicative 12. An externality exists whenever a. the economy can benefit from government intervention.b. markets are not able to reach equilibrium.c. a firm sells its product in a foreign market.d. a person engages in an activity that influences the well-being of a bystander and yet neithe

13、r pays nor receives payment for that effect.ANS: D PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Definitional 13. When externalities are present in a market, the well-being of market participantsa. and market bystanders are both directly affected.b. and market bystanders are both indirectly affecte

14、d.c. is directly affected, and market bystanders are indirectly affected.d. is indirectly affected, and market bystanders are directly affected.ANS: C PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Analytical 14. Which of the following statements about a well-maintained yard best conveys the general

15、 nature of the externality?a. A well-maintained yard conveys a positive externality because it increases the homes market value.b. A well-maintained yard conveys a negative externality because it increases the property tax liability of the owner.c. A well-maintained yard conveys a positive externali

16、ty because it increases the value of adjacent properties in the neighborhood.d. A well-maintained yard cannot provide any type of externality.ANS: C PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 15. Since restored historic buildings convey a positive externality, local governments may c

17、hoose toa. regulation the demolition of them.b. provide tax breaks to owners who restore them.c. increase property taxes in historic areas.d. Both a and b are correct.ANS: D PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 16. Externalities a. cause markets to fail to allocate resources ef

18、ficiently.b. cause equilibrium prices to be too high.c. benefit producers at the expense of consumers.d. cause equilibrium prices to be too low.ANS: A PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 17. When externalities exist, buyers and sellersa. neglect the external effects of their a

19、ctions, but the market equilibrium is still efficient.b. do not neglect the external effects of their actions, and the market equilibrium is efficient.c. neglect the external effects of their actions, and the market equilibrium is not efficient.d. do not neglect the external effects of their actions

20、, and the market equilibrium is not efficient.ANS: C PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 18. Dioxin emission that results from the production of paper is a good example of a negative externality becausea. self-interested paper firms are generally unaware of environmental regul

21、ations.b. there are fines for producing too much dioxin.c. self-interested paper producers will not consider the full cost of the dioxin pollution they create.d. toxic emissions are the best example of an externality.ANS: C PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 19. If a paper ma

22、nufacturer does not bear the entire cost of the dioxin it emits, it willa. emit a lower level of dioxin than is socially efficient.b. emit a higher level of dioxin than is socially efficient.c. emit an acceptable level of dioxin.d. not emit any dioxin in an attempt to avoid paying the entire cost.AN

23、S: B PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Applicative 20. One of the Ten Principles of Economics is that markets are usually a good way to organize market behavior. This statement does not imply which of the following?a. Some markets produce negative externalities.b. The invisible hand of

24、the marketplace does not always lead buyers and sellers to maximize total benefit to society.c. Some markets are characterized by market failure.d. Other types of economies are more efficient than market economies.ANS: D PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Interpretive 21. Which of the fo

25、llowing is an example of an externality?a. cigarette smoke that permeates an entire restaurantb. a flu shot that prevents a student from transmitting the virus to her roommatec. a beautiful flower garden outside of the local post officed. All of the above are correct.ANS: D PTS: 1 DIF: 2 REF: 10-0TO

26、P: Externalities MSC: Applicative 22. Which of the following statements is not correct?a. Government policies may improve the markets allocation of resources when negative externalities are present.b. Government policies may improve the markets allocation of resources when positive externalities are

27、 present.c. A positive externality is an example of a market failure.d. Without government intervention, the market will tend to undersupply products that produce negative externalities.ANS: D PTS: 1 DIF: 2 REF: 10-0TOP: Externalities MSC: Interpretive 23. Which of the following represents a way tha

28、t a government can help the private market to internalize an externality?a. taxing goods that have negative externalitiesb. subsidizing goods that have positive externalitiesc. The government cannot improve upon the outcomes of private markets.d. Both a and b are correct.ANS: D PTS: 1 DIF: 2 REF: 10

29、-0TOP: Externalities MSC: Applicative 24. When externalities are present in a market,a. the market equilibrium maximizes the total benefit to society as a whole.b. participants lose some market benefits to bystanders.c. firms produce too much output.d. the market fails to allocate resources efficien

30、tly.ANS: D PTS: 1 DIF: 2 REF: 10-0 | 10-1TOP: Externalities MSC: Applicative 25. If an externality is present in a market, economic efficiency may be enhanced bya. increased competition.b. weakening property rights.c. better informed market participants.d. government intervention.ANS: D PTS: 1 DIF:

31、1 REF: 10-1TOP: Externalities MSC: Applicative 26. If a sawmill creates too much noise for local residents, a. noise restrictions will force residents to move out of the area.b. a sense of social responsibility will cause owners of the mill to reduce noise levels.c. the government can raise economic

32、 well-being through noise-control regulations.d. the government should avoid intervening because the market will allocate resources efficiently.ANS: C PTS: 1 DIF: 2 REF: 10-1TOP: Externalities MSC: Applicative 27. Private markets fail to account for externalities becausea. externalities dont occur in private