经济学原理对应练习06Word格式.doc

经济学原理对应练习06Word格式.doc

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2. Thepresenceofpricecontrolsinamarketusuallyisanindicationthat

a. aninsufficientquantityofagoodorservicewasbeingproducedinthatmarkettomeetthepublic’sneed.

b. theusualforcesofsupplyanddemandwerenotabletoestablishanequilibriumpriceinthatmarket.

c. policymakersbelievedthatthepricethatprevailedinthatmarketintheabsenceofpricecontrolswasunfairtobuyersorsellers.

d. policymakerscorrectlybelievedthat,inthatmarket,pricecontrolswouldgeneratenoinequitiesoftheirown.

C PTS:

2 REF:

3. Policymakerssometimesareattractedtopricecontrolsbecause

a. theyviewthemarket'

soutcomeasinefficient.

b. theyviewthemarket'

soutcomeasunfair.

c. itispoliticallypopulartoimposepricecontrolsinmarketsinwhichthedemandforthegoodorserviceisinelastic.

d. theyarerequiredtodosoundertheEmploymentActof1946.

4. Pricecontrols

a. alwaysproduceanequitableoutcome.

b. alwaysproduceanefficientoutcome.

c. cangenerateinequitiesoftheirown.

d. producerevenueforthegovernment.

5. Policymakersusetaxes

a. toraiserevenueforpublicpurposes,butnottoinfluencemarketoutcomes.

b. bothtoraiserevenueforpublicpurposesandtoinfluencemarketoutcomes.

c. whentheyrealizethatpricecontrolsaloneareinsufficienttocorrectmarketinequities.

d. onlyinthosemarketsinwhichtheburdenofthetaxfallsclearlyonthesellers.

Taxes MSC:

6. Alegalmaximumpriceatwhichagoodcanbesoldisaprice

a. floor.

b. stabilization.

c. support.

d. ceiling.

D PTS:

6-1

Priceceilings MSC:

Definitional

7. Apriceceiling

a. isalegalmaximumonthepriceatwhichagoodcanbesold.

b. isoftenimposedinmarketsinwhich“cutthroatcompetition”wouldprevailwithoutapriceceiling.

c. isoftenimposedwhensellersofagoodaresuccessfulintheirattemptstoconvincethegovernmentthatthemarketoutcomeisunfairwithoutapriceceiling.

A PTS:

Interpretive

8. Alegalminimumpriceatwhichagoodcanbesoldis

a. exemplifiedbyrent-controllaws.

b. usuallyintendedtoenhanceefficiencyinamarket.

c. calledapriceceiling.

d. calledapricefloor.

Pricefloors MSC:

Definitional

9. Apricefloor

a. isalegalminimumonthepriceatwhichagoodcanbesold.

b. canresultwhensellersofagoodaresuccessfulintheirattemptstoconvincethegovernmentthatthemarketoutcomewithoutapricefloorisunfairtothem.

c. cancreateinequitiesinamarket.

10. Whichofthefollowingisthemostlikelyexplanationfortheimpositionofapricefloorinthemarketforcorn?

a. Policymakershavestudiedtheeffectsofthepricefloorcarefullyandtheyrecognizethatthepricefloorisadvantageousforsocietyasawhole.

b. Buyersandsellersofcornhaveagreedthatthepricefloorisgoodforbothofthemandhavethereforepressuredpolicymakersintoenactingthepricefloor.

c. Buyersofcorn,recognizingthatthepricefloorisgoodforthem,havepressuredpolicymakersintoenactingthepricefloor.

d. Sellersofcorn,recognizingthatthepricefloorisgoodforthem,havepressuredpolicymakersintoenactingthepricefloor.

11. Apriceceilingwillbebindingonlyifitisset

a. equaltoequilibriumprice.

b. aboveequilibriumprice.

c. belowequilibriumprice.

d. noneoftheabove;

apriceceilingisneverbinding.

12. Apriceceilingisbindingwhenitisset

a. abovetheequilibriumprice,causingashortage.

b. abovetheequilibriumprice,causingasurplus.

c. belowtheequilibriumprice,causingashortage.

d. belowtheequilibriumprice,causingasurplus.

Priceceilings|Shortages MSC:

13. Supposeapriceceilingisnotbinding;

thismeansthat

a. theequilibriumpriceisabovethepriceceiling.

b. theequilibriumpriceisbelowthepriceceiling.

c. ithasnolegalenforcementmechanism.

d. peoplearefindingawaytocircumventthelaw.

14. Apriceceilingthatisnotbindingwill

a. causeasurplusinthemarket.

b. causeashortageinthemarket.

c. causethemarkettobelessefficientthanitwouldbewithoutthepriceceiling.

d. havenoeffectonthemarketprice.

15. Ashortageresultswhen

a. abindingpriceceilingisimposed.

b. abindingpricefloorisimposed.

c. apriceceilingisimposedbutitisnotbinding.

d. apricefloorisimposedbutitisnotbinding.

16. When,inaparticularmarket,thelawofdemandandthelawofsupplybothapply,theimpositionofabindingpriceceilinginthatmarketcausesquantitydemandedtobe

a. greaterthanquantitysupplied.

b. lessthanquantitysupplied.

c. equaltoquantitysupplied.

d. Anyoftheaboveispossible.

17. Tosaythatapriceceilingisbindingistosaythatthepriceceiling

a. resultsinascarcity.

b. issetabovetheequilibriumprice.

c. resultsinexcessdemand.

Figure6-1

18. RefertoFigure6-1.Abindingpriceceilingisshownin

a. panel（a）butnotpanel（b）.

b. panel（b）butnotpanel（a）.

c. bothpanel（a）andpanel（b）.

d. neitherpanel（a）norpanel（b）.

Applicative

19. RefertoFigure6-1.Inwhichpanel（s）ofthefigurewouldtherebeashortageofthegoodattheceilingprice?

a. panel（a）butnotpanel（b）

b. panel（b）butnotpanel（a）

c. panel（a）andpanel（b）

d. neitherpanel（a）norpanel（b）

Applicative

20. RefertoFigure6-1.Thesituationinpanel（a）maybedescribedasoneinwhich

a. thepriceceilingisnotbinding.

b. theprice“ceiling”reallyfunctionsasapricefloor.

c. asurplusofthegoodwillbeobserved.

Figure6-2

21. RefertoFigure6-2.Abindingpriceceilingwouldbetheresultifthepriceceilingweresetat

a. $14.

b. $12.

c. $10.

d. $8.

22. RefertoFigure6-2.Whichofthefollowingstatementsiscorrect?

a. Apriceceilingsetat$12wouldbebinding,butapriceceilingsetat$8wouldnotbebinding.

b. Apricefloorsetat$8wouldbebinding,butapriceceilingsetat$8wouldnotbebinding.

c. Apriceceilingsetat$9wouldresultinanexcesssupply.

d. Apricefloorsetat$11wouldresultinasurplus.

23. RefertoFigure6-2.Ifthegovernmentimposesapricefloorof$14inthismarket,theresultwouldbea

a. surplusof20.

b. surplusof40.

c. shortageof20.

d. shortageof40.

Pricefloors|Surpluses MSC:

24. RefertoFigure6-2.Ifthegovernmentimposesapriceceilingof$8inthismarket,theresultwouldbea

a. surplusof10.

b. surplusof20.

c. shortageof10.

d. shortageof20.

25. RefertoFigure6-2.Ifthegovernmentimposesapriceceilingof$12inthismarket,theresultwouldbe

a. asurplusof10.

b. asurplusof20.

c. ashortageof20.

d. neitherasurplusnorashortage.

3 REF:

26. RefertoFigure6-2.Inwhichofthefollowingcaseswouldsellershavetodeveloparationingmechanism?

a. Apriceceilingissetat$8.

b. Apriceceilingissetat$12.

c. Apricefloorissetat$8.

d. Apricefloorissetat$10.

27. Apricefloorisbindingifit

a. issetlowerthantheequilibriummarketprice.

b. resultsinanobservedpricethatisthesameastheequilibriumprice.

c. leadstoasurplus.

d. isstrictlyenforcedbythegovernment.

28. Anexampleofapriceflooris

a. theregulationofgasolinepricesintheU.S.inthe1970s.

b. rentcontrol.

c. theminimumwage.

d. anyrestrictiononpricethatleadstoashortage.

29. Wh