微观经济学原理习题集Word格式.docx

微观经济学原理习题集Word格式.docx

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b.andc.only.

5.Massunemploymentofresourcesmeanssocietyoperatesinsideitsproduction-possibilityfrontier.

6. 

Iftwogoodsusethesameresourcesandthesametechnology,theproductionpossibilitiescurvebetweenthetwogoodswillhaveapositiveslope.

7. 

Itisscarcitythatmakesgoodseconomicgoods.

8. 

Whichofthefollowingisthemostbasicofthesubjectswithwhichthestudyofeconomicsmusttrytodeal?

Markets.

Money.

Profitseeking.

Thepricemechanism.

Scarcity.

9. 

Poormoneymanagementbythegovernment,asidefromincreasingtheunemploymentrate,willhavearelativelysmalleffectontheeconomy.

11.Barterisinconvenientbecause:

bargainingpowerisunequalbetweenrichandpoor.

withoutmoney,whocandefine"

fair"

values?

mywantsandsuppliesdonotmatchyoursuppliesandwants.

itleadstoimperfectcompetition.

alloftheabove.

12. 

Theeconomicroleofgovernmentinmixedeconomiescaninclude:

provisionofpublicgoods.

taxcollections.

incomeredistribution.

noneoftheabove.

13. 

Bythe"

invisiblehand,"

Smithmeanttheinfluenceandlobbyingofthehiddeninterestgroups.

14. 

Asocietywhichforgoespresentconsumption:

isforcedtodosobecauseofexcessiveconsumptionwithinthecountryinthepast.

maybedevotingnewresourcestonewcapitalformation.

ismerelydevotingresourcestothereplacementofcapital.

expectstoconsumeonlythatamounttomorrowwhichwasforegonetoday.

doesnoneoftheabove.

15. 

Aneconomicgoodisvaluedinpartbyitsscarcity.

16. 

Thestatementthatroundaboutmethodsofproductionareoftenmoreefficientthanmoredirectmethods:

meansthatroundaboutmethodsusethesameinputsasmoredirectmethods,exceptfortime,whichisnotascarceeconomicgood.

meansthatconsumersoughttochoosethosegoodswhichmostlendthemselvestoroundaboutmethodsofproduction.

meansthatthemostroundaboutmethodisalwaysthemostefficientmethodofproducinganyoutput.

isfalse,fordirectandindirectmethodsofproductionareusuallythesameintermsofefficiency.

suggeststhatforegoneconsumptiondevotedtoinvestmentsometimesincreasesfutureoutputinwaysthatmorecloselymatchindividualand/orsocialdesires.

17. 

Whichofthefollowingstatementsistrueofspecialization?

Specializationisinconsistentwiththeideaofindividualfreedom.

Economiesthatpracticeadivisionoflaboraremorallysuperiortothosethatdonot.

Inacceptingspecialization,apersonsacrificeshisorherowninterestsforthesakeofsociety'

sinterest.

Whilespecializationhasenormousadvantages,thecostsoutweighthem.

Increasedproductivityismorelikelytobeachievedthroughspecialization.

18. 

Inanaffluentmodernsociety,businessesmayhavetoofferworkersmorefulfillingjobs.

19. 

Consumersvotetheirdollarsprimarilyin:

labormarkets.

landmarkets.

capitalmarkets.

goodsmarkets.

20. 

Anexampleoflegallimitationsonpropertyrightsistheprohibitionofpollution.

21. 

Lowerpricescoaxouthigherquantitiesdemandedalongadownward-slopingdemandcurve.

22. 

Anincreaseinpricewillleadtoalowerquantitydemandedbecause:

supplierswillsupplyonlythesmalleramount.

qualitydeteriorates.

peoplewillpurchaselessofthegood.

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:

$1.00.

$2.00.

$2.50.

$3.00.

$4.00.

25. 

Upward-slopingsupplycurvesaretheresultof:

increasingreturnstoscale.

increasingcostsofproduction.

changesingovernmentpolicies.

changesintechnology.

noneoftheabove

26. 

Tosaythataprice"

clearsthemarket"

istosaythateveryonewhowantsthatcommodityisgettingalltheywant.

27. 

ThepositionofthesupplyscheduleforAmerican-madecarswillnotbedirectlyaffectedbywhichofthefollowing?

Unionwagerates.

Carprices.

Thepossibilityofstrikes.

Achangeinassemblytechnology.

Alloftheabovewillaffectsupply.

28. 

Thedemandcurveforanormalgoodwillshifttotherightif:

incomeincreases.

populationincreases.

thepriceofasubstitutegoodincreases.

alltheabove.

29. 

Givenafixedsupplyoflambchops,areductioninthepriceofporkchops（closesubstitutes）willtendto:

shiftthedemandcurveforlambchopstotheright.

shiftthedemandcurveforporkchopstotheright.

shiftthedemandcurveforporkchopstotheleft.

raisethepriceoflambchops.

lowerthepriceoflambchops.

30. 

Onereasonthatsupplycurvesdisplaypositiveslopeisthat:

expandedproductionmayrequiretheuseofsuperiorresources.

peoplearenotwillingtopayahigherpriceformoregoods.

expandedindustryoutputmightcausealaborshortageandsubsequentlyincreasethewagerateincludedinthecostofproduction.

extraproductionbringsinthemoreefficient,lower-costproducers.

thelawofdiminishingreturnsisimportanttoproducers.

31. 

Ifa1percentchangeinpricecausesa5percentchangeinquantitydemanded,thendemandispriceinelastic.

32. 

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

greaterthan1.

lessthan1.

equalto0.

equalto1.

equaltoinfinity.

33. 

Ifpriceandquantitysoldbothdecreasefromoneperiodtoanother,wemayinferthatthelawofdownward-slopingdemanddoesnotoperateinthatmarket.

34. 

In"

tight"

housingmarkets,rentcontrolsareoftenappliedtoholdthepriceofhousingtoa"

reasonable"

level. 

Whatistheimmediateeffectofthispricepolicywithrespecttotheallocativefunctionsofprices,andtherelativeincomesoftenantsandlandlords?

Theallocativefunctionofpricesisimpaired,butthetenantsarepreventedfromgainingattheexpenseofthelandlords.

Theallocativefunctionofpricesisnotimpaired,andthetenantsarepreventedfromgainingattheexpenseoflandlords.

Theallocativefunctionofpricesisimpaired,andthetenantswhofindhousinggainattheexpenseoflandlords.

Theallocativefunctionofpricesisnotimpaired,butthelandlordsgainattheexpenseoftenantswhodonotfindhousing.

Noneoftheabove.

35. 

Whichofthefollowinginefficienciesmightbetheresultofmonopolypower'

sdestroyingacompetitiveequilibrium?

Pricestoohigh.

Outputtoolow.

Wagesdistortedacrosstheeconomy.

Inputpricesdistortedacrosstheeconomy.

Alloftheabove.

36. 

Dollarreceiptsforsellersofsomecommoditieswillbelowerathigherprices.

37. 

Thequantityofagoodwhichapersonwillpurchasewillnotdependonwhichoneofthefollowingitems?

Thepriceofthegood.

Hisorhertastes.

Thepricesofsubstituteg