MICROECONOMICS1990微观经济试题.docx

1、MICROECONOMICS1990微观经济试题MICROECONOMICSSection ITime60 minutes50 QuestionsDirections: Each of the questions or incomplete statements below is followed by five suggested answers or completions. Select the one that is best in each case and place the letter of your choice in the corresponding box on the

2、 student answer sheet.1. Problems faced by all economic systems include which of the following?I.How to allocate scarce resources among unlimited wantsII.How to decentralize marketsIII.How to decide what to produce, how to produce, and for whom to produceIV.How to set government production quotasA.

3、onlyB. and onlyC. and onlyD. , , and onlyE. , , , and only2. Which of the following would necessarily cause a fall in the price of a product?A. An increase in population and a decrease in the price of an inputB. An increase in population and a decrease in the number of firms producing the productC.

4、An increase in average income and an improvement in production technologyD. A decrease in the price of a substitute product and an improvement in production technologyE. A decrease in the price of a substitute product and an increase in the price of an input3. The market equilibrium price of home he

5、ating oil is $1.50 per gallon. If a price ceiling of $1.00 per gallon is imposed, which of the following will occur in the market for home heating oil?I.Quantity supplied will increase.II.Quantity demanded will increase.III.Quantity supplied will decrease.IV.Quantity demanded will decrease.A. onlyB.

6、 and onlyC. and onlyD. and onlyE. and only4. Suppose that a family buys all its clothing from a discount store and treats these items as inferior goods. Under such circumstances, this familys consumption of discount store clothing will necessarilyA. increase when a family member wins the state lotte

7、ryB. increase when a family member gets a raise in pay at workC. remain unchanged when its income rises or falls due to events beyond the familys controlD. decrease when a family member becomes unemployedE. decrease when a family member experiences an increase in income5. Which of the following desc

8、ribes what will happen to market price and quantity if firms in a perfectly competitive market form a cartel and act as a profit-maximizing monopoly? Price QuantityA. Decrease DecreaseB. Decrease IncreaseC. Increase IncreaseD. Increase DecreaseE. Increase No change6. Quantity Produced Total Cost 0 $

9、5 1 17 2 28 3 41 4 61 5 91Barneys Bait Company can sell all the lures it produces at the market price of $14. On the basis of the cost information in the table above, how many lures should the bait company make?A. 1B. 2C. 3D. 4E. 57. A natural monopoly occurs in an industry ifA. economies of scale a

10、llow at most one firm of efficient size to exist in that marketB. a single firm has control over a scarce and essential resourceC. a single firm produces inputs for use by other firmsD. a single firm has the technology to produce the product sold in that marketE. above-normal profits persist in the

11、industry8. The typical firm in a monopolistically competitive industry earns zero profit in long-run equilibrium becauseA. advertising costs make monopolistic competition a high-cost market structure rather than a low-cost market structureB. the firms in the industry do not operate at the minimum po

12、int on their long-run average cost curvesC. there are no restrictions on entering or exiting from the industryD. the firms in the industry are unable to engage in product differentiationE. there are close substitutes for each firms product9. Which of the following inevitably causes a shift in the ma

13、rket demand for workers with a certain skill?A. An increase in the demand for goods produced by these workersB. A decrease in tax rates on the income of these workersC. An increase in the equilibrium wages received by these workersD. An increase in the supply of these workersE. The creation of a fed

14、erally subsidized program to train new workers10. If hiring an additional worker would increase a firms total cost by less than it would increase its total revenue, the firm shouldA. not hire the workerB. hire the workerC. hire the worker only if another worker leaves or is hiredD. hire the worker o

15、nly if the worker can raise the firms productivityE. reduce the number of workers employed by the firm11. If a firm wants to produce a given amount of output at the lowest possible cost, it should use each resource in such a manner thatA. it uses more of the less expensive resourceB. it uses more of

16、 the resource with the highest marginal productC. each resource has just reached the point of diminishing marginal returnsD. the marginal products of each resource are equalE. the marginal products per dollar spent on each resource are equal12. In which of the following ways does the United States g

17、overnment currently intervene in the working of the market economy?I.It produces certain goods and services.II.It regulated the private sector to achieve a more efficient allocation of resources.III.It redistributes income through taxation and public expenditures.A. onlyB. onlyC. onlyD. and onlyE. ,

18、 , and 13. If it were possible to increase the output of military goods and simultaneously to increase the output of the private sector of an economy, which of the following statements about the economy and its current position relative to its production possibilities curve would be true?A. The econ

19、omy is inefficient and inside the curve.B. The economy is inefficient and on the curve.C. The economy is efficient and on the curve.D. The economy is efficient and inside the curve.E. The economy is efficient and outside the curve.14. An effective price floor introduced in the market for rice will r

20、esult inA. a decrease in the price of rice and an increase in the quantity of rice soldB. a decrease in the price of rice and a decrease in the quantity of rice soldC. a decrease in the price of rice and an excess demand for riceD. an increase in the price of rice and an excess supply of riceE. an i

21、ncrease in the price of rice and an excess demand for rice15. Marginal revenue is the change in revenue that results from a one-unit increase in theA. variable inputB. variable input priceC. output levelD. output priceE. fixed cost16. A leftward shift in the supply curve of corn would result fromA.

22、a decrease in the price of cornB. a decrease in the price of farm machineryC. an increase in the demand for corn breadD. an increase in the labor costs of producing cornE. an increase in consumers incomes17. The diagram above depicts costs and revenue curves for a firm. What are the firms profit-max

23、imizing output and price? Output PriceA. 0S 0DB. 0R 0EC. 0Q 0FD. 0Q 0BE. 0P 0G18. The government is considering imposing a 3 percent tax on either good A or good B. In order to generate the largest revenue, the tax should be imposed on the good for whichA. demand is perfectly elasticB. demand is per

24、fectly inelasticC. demand is unit elasticD. supply is perfectly elasticE. supply is unit elastic19. Which of the following statements has to be true in a perfectly competitive market?A. A firms marginal revenue equals price.B. A firms average total cost is above price in the long run.C. A firms aver

25、age fixed cost rises in the short run.D. A firms average variable cost is higher than price in the long run.E. Large firms have lower costs than small firms.20. Assume that an electric power company owns two plants and that, on a particular day, 10,000 kilowatts of electricity are demanded by the pu

26、blic. In order to minimize the total cost of providing the 10,000 kilowatts, the company should allocate production so thatA. marginal costs are the same for both plantsB. average total costs are the same for both plantsC. total variable costs are the same for both plantsD. the sum of total variable

27、 cost and total fixed cost is the same for both plantsE. only the plant with the lower average cost is used to produce the 10,000 kilowatts of electricity21. Suppose that the consumption of a certain product results in benefits to others besides the consumers of the product. Which of the following s

28、tatements is most likely to be true?A. The demand for the product is price inelastic.B. A perfectly competitive industry will not produce the optimal quantity of the product.C. A perfectly competitive industry will not produce the product.D. Optimality requires that consumers of this product be taxe

29、d.E. Producers of this product earn an economic profit.Questions 22-23 are based on the table below, which lists the total output of workers in Gretas Jacket Shop.Number of WorkersTotal Output21232242853222. Which of the following is the marginal product of the fourth worker?A. 4B. 5C. 6D. 28E. 1122

30、3. Greta already employs 3 workers. If the price of jackets is $5 and the wage rate is $25, she shouldA. go out of business altogetherB. lay off the third workerC. keep the third worker but not employ more workersD. hire two more workersE. hire one more workers24. A city council is deciding what pri

31、ce to set for a trip on the citys commuter train line. If the council wants to maximize profits, it will set a price so thatA. price equals marginal costB. price equals average costC. price equals marginal revenueD. marginal revenue equals marginal costE. marginal revenue equals average total cost25. The demand curve for cars is downward sloping because an increase in the price of cars leads toA. the increased use of other modes of transportationB. a fall in the expected future price of carsC. a decrease in the number of cars available for purchaseD. a rise in