微观经济学原理习题集.docx

微观经济学原理习题集.docx

《微观经济学原理习题集.docx》由会员分享，可在线阅读，更多相关《微观经济学原理习题集.docx（37页珍藏版）》请在冰点文库上搜索。

微观经济学原理习题集

1.Thescientificmethodisnotapplicabletothestudyofeconomicsbecauseeconomicsisnotatruescience.

    A）  True

    B）  False

     2.  Hypothesesderivedfromeconomicanalysiscanbevalidatedthroughempiricalanalysis,buthardlyeverwithabsolutecertainty.

    A）  True

    B）  False

     3.  Whichofthefollowingstatementsrelatestotheconceptofefficiency?

    A）  Theabsenceofwaste.

    B）  Usingresourcesaseffectivelyaspossible.

    C）  Beingabletoproducemoreofonegoodonlybyproducinglessofsomethingelse.

    D）  Alltheabove.

    E）  b.andc.only.

5.Massunemploymentofresourcesmeanssocietyoperatesinsideitsproduction-possibilityfrontier.

    A）  True

    B）  False

     6.  Iftwogoodsusethesameresourcesandthesametechnology,theproductionpossibilitiescurvebetweenthetwogoodswillhaveapositiveslope.

    A）  True

    B）  False

     7.  Itisscarcitythatmakesgoodseconomicgoods.

    A）  True

    B）  False

     8.  Whichofthefollowingisthemostbasicofthesubjectswithwhichthestudyofeconomicsmusttrytodeal?

    A）  Markets.

    B）  Money.

    C）  Profitseeking.

    D）  Thepricemechanism.

    E）  Scarcity.

     9.  Poormoneymanagementbythegovernment,asidefromincreasingtheunemploymentrate,willhavearelativelysmalleffectontheeconomy.

    A）  True

    B）  False

11.Barterisinconvenientbecause:

    A）  bargainingpowerisunequalbetweenrichandpoor.

    B）  withoutmoney,whocandefine"fair"values?

    C）  mywantsandsuppliesdonotmatchyoursuppliesandwants.

    D）  itleadstoimperfectcompetition.

    E）  alloftheabove.

   12.  Theeconomicroleofgovernmentinmixedeconomiescaninclude:

    A）  provisionofpublicgoods.

    B）  taxcollections.

    C）  incomeredistribution.

    D）  alloftheabove.

    E）  noneoftheabove.

   13.  Bythe"invisiblehand,"Smithmeanttheinfluenceandlobbyingofthehiddeninterestgroups.

    A）  True

    B）  False

   14.  Asocietywhichforgoespresentconsumption:

    A）  isforcedtodosobecauseofexcessiveconsumptionwithinthecountryinthepast.

    B）  maybedevotingnewresourcestonewcapitalformation.

    C）  ismerelydevotingresourcestothereplacementofcapital.

    D）  expectstoconsumeonlythatamounttomorrowwhichwasforegonetoday.

    E）  doesnoneoftheabove.

   15.  Aneconomicgoodisvaluedinpartbyitsscarcity.

    A）  True

    B）  False

   16.  Thestatementthatroundaboutmethodsofproductionareoftenmoreefficientthanmoredirectmethods:

    A）  meansthatroundaboutmethodsusethesameinputsasmoredirectmethods,exceptfortime,whichisnotascarceeconomicgood.

    B）  meansthatconsumersoughttochoosethosegoodswhichmostlendthemselvestoroundaboutmethodsofproduction.

    C）  meansthatthemostroundaboutmethodisalwaysthemostefficientmethodofproducinganyoutput.

    D）  isfalse,fordirectandindirectmethodsofproductionareusuallythesameintermsofefficiency.

    E）  suggeststhatforegoneconsumptiondevotedtoinvestmentsometimesincreasesfutureoutputinwaysthatmorecloselymatchindividualand/orsocialdesires.

   17.  Whichofthefollowingstatementsistrueofspecialization?

    A）  Specializationisinconsistentwiththeideaofindividualfreedom.

    B）  Economiesthatpracticeadivisionoflaboraremorallysuperiortothosethatdonot.

    C）  Inacceptingspecialization,apersonsacrificeshisorherowninterestsforthesakeofsociety'sinterest.

    D）  Whilespecializationhasenormousadvantages,thecostsoutweighthem.

    E）  Increasedproductivityismorelikelytobeachievedthroughspecialization.

   18.  Inanaffluentmodernsociety,businessesmayhavetoofferworkersmorefulfillingjobs.

    A）  True

    B）  False

   19.  Consumersvotetheirdollarsprimarilyin:

    A）  labormarkets.

    B）  landmarkets.

    C）  capitalmarkets.

    D）  goodsmarkets.

    E）  noneoftheabove.

   20.  Anexampleoflegallimitationsonpropertyrightsistheprohibitionofpollution.

    A）  True

    B）  False

   21.  Lowerpricescoaxouthigherquantitiesdemandedalongadownward-slopingdemandcurve.

    A）  True

    B）  False

   22.  Anincreaseinpricewillleadtoalowerquantitydemandedbecause:

    A）  supplierswillsupplyonlythesmalleramount.

    B）  qualitydeteriorates.

    C）  peoplewillpurchaselessofthegood.

    D）  alloftheabove.

    E）  noneoftheabove.

sethefollowingtoanswerquestion24:

                                                         Table1

                                         TheMarketforPotatoChips

                                 （quantitiesmeasuredinbagsperweek）

                        Price            QuantitySupplied          QuantityDemanded

                       $1.00                       500                                 2000

                         2.00                     1000                                 1750

                         3.00                     1500                                 1500

                         4.00                     2000                                 1250

                         5.00                     2500                                 1000

   24.  AccordingtoTable1,theequilibriumpriceforpotatochipsis:

    A）  $1.00.

    B）  $2.00.

    C）  $2.50.

    D）  $3.00.

    E）  $4.00.

   25.  Upward-slopingsupplycurvesaretheresultof:

    A）  increasingreturnstoscale.

    B）  increasingcostsofproduction.

    C）  changesingovernmentpolicies.

    D）  changesintechnology.

    E）  noneoftheabove

   26.  Tosaythataprice"clearsthemarket"istosaythateveryonewhowantsthatcommodityisgettingalltheywant.

    A）  True

    B）  False

   27.  ThepositionofthesupplyscheduleforAmerican-madecarswillnotbedirectlyaffectedbywhichofthefollowing?

    A）  Unionwagerates.

    B）  Carprices.

    C）  Thepossibilityofstrikes.

    D）  Achangeinassemblytechnology.

    E）  Alloftheabovewillaffectsupply.

   28.  Thedemandcurveforanormalgoodwillshifttotherightif:

    A）  incomeincreases.

    B）  populationincreases.

    C）  thepriceofasubstitutegoodincreases.

    D）  alltheabove.

    E）  noneoftheabove.

   29.  Givenafixedsupplyoflambchops,areductioninthepriceofporkchops（closesubstitutes）willtendto:

    A）  shiftthedemandcurveforlambchopstotheright.

    B）  shiftthedemandcurveforporkchopstotheright.

    C）  shiftthedemandcurveforporkchopstotheleft.

    D）  raisethepriceoflambchops.

    E）  lowerthepriceoflambchops.

   30.  Onereasonthatsupplycurvesdisplaypositiveslopeisthat:

    A）  expandedproductionmayrequiretheuseofsuperiorresources.

    B）  peoplearenotwillingtopayahigherpriceformoregoods.

    C）  expandedindustryoutputmightcausealaborshortageandsubsequentlyincreasethewagerateincludedinthecostofproduction.

    D）  extraproductionbringsinthemoreefficient,lower-costproducers.

    E）  thelawofdiminishingreturnsisimportanttoproducers.

   31.  Ifa1percentchangeinpricecausesa5percentchangeinquantitydemanded,thendemandispriceinelastic.

    A）  True

    B）  False

   32.  Whenevertotalexpenditure（i.e.,totalrevenue）remainsthesameafterachangeinprice,theelasticityofdemandis:

    A）  greaterthan1.

    B）  lessthan1.

    C）  equalto0.

    D）  equalto1.

    E）  equaltoinfinity.

   33.  Ifpriceandquantitysoldbothdecreasefromoneperiodtoanother,wemayinferthatthelawofdownward-slopingdemanddoesnotoperateinthatmarket.

    A）  True

    B）  False

   34.  In"tight"housingmarkets,rentcontrolsareoftenappliedtoholdthepriceofhousingtoa"reasonable"level. Whatistheimmediateeffectofthispricepolicywithrespecttotheallocativefunctionsofprices,andtherelativeincomesoftenantsandlandlords?

    A）  Theallocativefunctionofpricesisimpaired,butthetenantsarepreventedfromgainingattheexpenseofthelandlords.

    B）  Theallocativefunctionofpricesisnotimpaired,andthetenantsarepreventedfromgainingattheexpenseoflandlords.

    C）  Theallocativefunctionofpricesisimpaired,andthetenantswhofindhousinggainattheexpenseoflandlords.

    D）  Theallocativefunctionofpricesisnotimpaired,butthelandlordsgainattheexpenseoftenantswhodonotfindhousing.

    E）  Noneoftheabove.

   35.  Whichofthefollowinginefficienciesmightbetheresultofmonopolypower'sdestroyingacompetitiveequilibrium?

    A）  Pricestoohigh.

    B）  Outputtoolow.

    C）  Wagesdistortedacrosstheeconomy.

    D）  Inputpricesdistortedacrosstheeconomy.

    E）  Alloftheabove.

   36.  Dollarreceiptsforsellersofsomecommoditieswillbelowerathigherprices.

    A）  True

    B）  False

   37.  Thequantityofagoodwhichapersonwillpurchasewillnotdependonwhichoneofthefollowingitems?

    A）  Thepriceofthegood.

    B）  Hisorhertastes.

    C）  Thepricesofsubstituteg