经济学原理quiz511Word文档下载推荐.docx

经济学原理quiz511Word文档下载推荐.docx

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a.atpointsfurtherupandtotheleftalongthedemandcurve.

b.atpointsfurtherdownandtotherightalongthedemandcurve.

c.whenthedemandcurvebecomessteeper.d.whenthedemandcurveisvertical.

5.SupposethatGeneralCarsincreasesthepriceofitsCadiclapmodelfrom$13,500to$16,500.Asaresultofthis,thequantitydemandedoftheCadiclapmodeldecreasesfrom600,000to400,000peryear.FindthepriceelasticityofdemandoftheCadiclapusingtheMid-Pointmethod.

a.-3.0b.-0.5c.-2.0d.-0.3

6.IfafirmneedstoincreaseitsTotalRevenue,thefirmshould________theprice,ifthedemandforitsproductis________.

a.drop,inelasticb.raise,elasticc.drop,elasticd.drop,unitelastic

7.Supposethatconsumers'

incomesriseby3%,andthatthiscausesthequantitydemandedincreaseby2%

a.1.50b.0.67c.-1.50d.-0.67

8.Supposethatagoodhasanincomeelasticityofdemandof-2.0.Thismeansthatthegoodis:

a.normal.b.inferior.c.asubstitute.d.acomplement.

9.Iftwogoodshaveacross-priceelasticityofdemandof-0.8.Thismeansthatthesegoodsare:

a.normal.b.inferior.c.substitutes.plements.

10.ThepriceofgoodAincreasesfrom$4.50to$5.50.ThiscausesthequantitydemandedofgoodBtoincreasefrom900to1100unitspermonth.FindthecrosspriceelasticityofdemandusingtheMid-Pointmethod.

a.-1.0b.+2.0c.+1.0d.-2.0

Quiz6

1.Supposethataregulationisinplacethatdoesnotallowthepriceofagoodtoexceed$5.Ifthispriceisabovetheequilibriumpriceinthemarket,thiswouldbeanexampleofa:

bindingpriceceiling

notbindingpriceceiling

bindingpricefloor

notbindingpricefloor.

2.Supposethataregulationisinplacethatdoesnotallowthepriceofagoodtofallbelow$10.Ifthispriceisabovetheequilibriumpriceinthemarket,thiswouldbeanexampleofa

notbindingpriceceiling.

bindingpricefloor.

3.Supposethataregulationisinplacethatdoesnotallowthepriceofagoodtoexceed$5.Ifthispriceisbelowtheequilibriumpriceinthemarket,thiswouldbeanexampleofa:

bindingpriceceiling.

4.Ifapricefloorisinplaceanditisbinding,themarketwill:

remaininequilibrium,unaffectedbythepricefloor

experienceashortage

experienceasurplus

adjustitsequilibriumpointtowardthepricefloor

5.Ifapriceceilingisinplaceanditisbinding,themarketwill:

remaininequilibrium,unaffectedbythepricefloor.

6.Ifapricefloorisinplaceanditisnotbinding,themarketwill:

7.Ifataxisimposedonbuyersofagood,the________curveofthegoodwillshift________bytheamountofthetax.

demand,upward

demand,downward

supply,upward

supply,downward

8.Ifataxisimposedonsellersofagood,the________curveofthegoodwillshift________bytheamountofthetax.

9.Ifataxisimposedonagoodandtheincidenceofthetaxendsupfallingmoreheavilyonthesellersthanonthebuyers,thiswillbebecause:

demandismoreelasticthansupplyforthatgood

demandislesselasticthansupplyforthatgood.

thetaxwasimposedonthebuyersofthegoo

thetaxwasimposedonthesellersofthegood

10.Ifataxisimposedonagoodandtheincidenceofthetaxendsupfallingmoreheavilyonthebuyersthanonthesellers,thiswillbebecause:

demandismoreelasticthansupplyforthatgood.

demandislesselasticthansupplyforthatgood

thetaxwasimposedonthebuyersofthegood.

thetaxwasimposedonthesellersofthegood.

Quiz7

1.Consumersurplusisthe:

a.differencebetweenwhattheconsumeriswillingtopayandwhattheconsumerhastopay.

b.surplusofgoodstheconsumerhasafterconsumingallhe/sheneedsfromthem.

c.excessnumberofgoodsconsumerspurchaseoverandabovewhattheyreallyneed.

d.excessnumberofunitsfirmsproduceoverandabovewhatconsumerswanttopurchase.

2.Theconsumersurpluscanbeexpressedgraphicallyasthearea:

a.abovethesupplycurveandbelowtheprice

b.abovethesupplycurveandbelowthedemandcurve

c.belowthesupplycurveandabovethehorizontalaxis

d.belowthedemandcurveandabovethepriceofthegood.

3.Theproducersurpluscanbeexpressedgraphicallyasthearea:

c.belowthesupplycurveandabovethehorizontalaxis.

4.Theproducersurplusrepresentsthe:

a.productioninamarketoverandabovewhatconsumerswishtopurchase.

b.differencebetweenthepriceofthegoodandthecosttotheseller.

c.leftoverofrawmaterialsandotherinputsthatfirmshaveafterproducingthegood.

d.leftoverofthegoodthatremainsunsoldaftertheHolidayseason.

5.Apriceincreasewillcauseconsumersurplusto________.

a.increaseb.decreasec.staythesamed.increaseordecrease

6.Apriceincreasewillcauseproducersurplusto________.

a.increaseb.decreasec.staythesamed.increaseordecrease

7.TotalSurpluscanbecalculatedasfollows:

a.Valuetobuyersminusamountpaidbybuyersb.Amountreceivedbysellersminuscosttosellers.

c.Costtosellersminusvaluetobuyersd.Valuetobuyersminuscosttosellers.

8.Totalsurplusinamarketisusuallymaximizedwhen:

a.firmsobtainthebiggestpossibleprofitb.consumerspaythelowestpossibleprice.

c.themaximumamountpossibleisproducedd.themarketisinequilibrium.

9.Ifthequantitytradedinamarketislessthantheequilibriumquantity:

a.thevaluetoconsumersforadditionalunitsislessthanthecosttosellersofproducingthoseunits.

b.thevaluetoconsumersforadditionalunitsisgreaterthanthecosttosellersofproducingthoseunits.

c.themarketwilldecreaseitstotalsurplusifmoreunitsareproduced.

d.totalsurplusislargerthaninequilibrium

10Ifamarketisnotverycompetitiveand/orifthereareexternalities,wecanexpectthemarketoutcome:

a.tobeefficient,andtotalsurplustobemaximized

b.tobeefficient,buttotalsurpluswillnotbemaximized

c.nottobeefficient,butthetotalsurpluswillstillbemaximized

d.nottobeefficient,andtotalsurpluswillnotbemaximized

Quiz8

1.Allofthefollowingoccurwhenataxisleviedonagood,EXCEPT:

a.consumersurplusdecreases.

b.producersurplusdecreases.

c.totalsurplusincreases.

d.thegovernmentobtainsrevenuefromthetax.

2.Whenataxisimposed,thequantitytradedinamarketwill________andtotalsurpluswill________.

a.increase,increaseb.increase,decreasec.decrease,increased.decrease,decrease

3.Thelossoftotalsurplusinamarketresultingfromataxiscalled:

a.deadweightloss.b.taxsurplus.c.governmentrevenuefromthetax.d.taxationloss.

4.Deadweightlossinataxedmarketoccursbecause:

a.thetaxcausesthemarkettotrademorethantheoptimalunits,soallthesurplusoftheexcessunitstradedislost.

b.thetaxcausesthemarkettotradelessthantheoptimalunits,soallthesurplusoftheunitsnottradedislost.

c.thegovernment'

srevenuefromthetaxislosttoconsumersandproducers.

d.ofthecostofadministeringthetax,intheformofpaperworkthatneedstobedone.

5.Agiventaxwillcauseabiggerdeadweightlossifdemandandsupplyare:

a.inelastic.b.elastic.c.unitelastic.d.perfectlyinelastic.

6.Whichofthefollowingwillcausethedeadweightlossoftaxationtobebigger?

a.Abiggertax.b.Anincreaseindemand.c.Anincreaseinsupply.d.Lesselasticdemandandsupply.

7.AccordingtotheLaffercurve,ifthegovernmentwantstoincreaseitsrevenuefromtaxes:

a.sometimesthewaytodosowillbebyloweringthesizeofthetax.

b.itwillhavetoincreasethesizeofthetax.

c.itwillhavetoimposethetaxonsellers.

d.itwillhavetoimposethetaxonbuyers.

8.Whenthesizeofthetaxistoobig,afurtherincreaseinthesizeofthetaxwillcause:

a.therevenuegeneratedbythetaxtoincrease.b.therevenuegeneratedbythetaxtodecrease.

c.buyerstoincreasethequantitydemanded.d.sellerstoincreasethequantitysupplied.

9.Abiggertaxwillcausethedeadweightlossinthemarketto:

a.increase,andwillalwayscausethetaxrevenuetoincrease.

b.decrease,anditwillalwayscausethetaxrevenuetoincrease.

c.increase,anditmightcausethetaxrevenuetodecrease.

d.decrease,anditmightcausethetaxrevenuetodecrease.

10.Whenataxisimposed,whichofthefollowingwilloccur?

a.Consumersurpluswillincrease.b.Producersurpluswillincrease.

c.Governmenttaxrevenuewillde