经济学原理对应练习6Word格式文档下载.docx

经济学原理对应练习6Word格式文档下载.docx

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b.theusualforcesofsupplyanddemandwerenotabletoestablishanequilibriumpriceinthatmarket.

c.policymakersbelievedthatthepricethatprevailedinthatmarketintheabsenceofpricecontrolswasunfairtobuyersorsellers.

d.policymakerscorrectlybelievedthat,inthatmarket,pricecontrolswouldgeneratenoinequitiesoftheirown.ANS:

C PTS:

2 REF:

3.Policymakerssometimesareattractedtopricecontrolsbecause

a.theyviewthemarket'

soutcomeasinefficient.

b.theyviewthemarket'

soutcomeasunfair.

c.itispoliticallypopulartoimposepricecontrolsinmarketsinwhichthedemandforthegoodorserviceisinelastic.

d.theyarerequiredtodosoundertheEmploymentActof1946.ANS:

4.Pricecontrols

a.alwaysproduceanequitableoutcome.

b.alwaysproduceanefficientoutcome.

c.cangenerateinequitiesoftheirown.

d.producerevenueforthegovernment.

5.Policymakersusetaxes

a.toraiserevenueforpublicpurposes,butnottoinfluencemarketoutcomes.

b.bothtoraiserevenueforpublicpurposesandtoinfluencemarketoutcomes.

c.whentheyrealizethatpricecontrolsaloneareinsufficienttocorrectmarketinequities.

d.onlyinthosemarketsinwhichtheburdenofthetaxfallsclearlyonthesellers.ANS:

Taxes MSC:

6.Alegalmaximumpriceatwhichagoodcanbesoldisaprice

a.floor.

b.stabilization.

c.support.

d.ceiling.

D PTS:

1

DIF:

REF:

6-1

Priceceilings

MSC:

Definitional

217

Chapter6/Supply,Demand,andGovernmentPolicies v219

7.Apriceceiling

a.isalegalmaximumonthepriceatwhichagoodcanbesold.

b.isoftenimposedinmarketsinwhich“cutthroatcompetition”wouldprevailwithoutapriceceiling.

c.isoftenimposedwhensellersofagoodaresuccessfulintheirattemptstoconvincethegovernmentthatthemarketoutcomeisunfairwithoutapriceceiling.

A PTS:

Priceceilings MSC:

Interpretive

8.Alegalminimumpriceatwhichagoodcanbesoldis

a.exemplifiedbyrent-controllaws.

b.usuallyintendedtoenhanceefficiencyinamarket.

c.calledapriceceiling.

d.calledapricefloor.

PricefloorsMSC:

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.ANS:

12.Apriceceilingisbindingwhenitisset

a.abovetheequilibriumprice,causingashortage.

b.abovetheequilibriumprice,causingasurplus.

c.belowtheequilibriumprice,causingashortage.

d.belowtheequilibriumprice,causingasurplus.ANS:

6-1TOP:

Priceceilings|Shortages MSC:

13.Supposeapriceceilingisnotbinding;

thismeansthat

a.theequilibriumpriceisabovethepriceceiling.

b.theequilibriumpriceisbelowthepriceceiling.

c.ithasnolegalenforcementmechanism.

d.peoplearefindingawaytocircumventthelaw.ANS:

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

Chapter6/Supply,Demand,andGovernmentPolicies v221

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.

D

PTS:

2

22.RefertoFigure6-2.Whichofthefollowingstatementsiscorrect?

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

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

c.Apriceceilingsetat$9wouldresultinanexcesssupply.

d.Apricefloorsetat$11wouldresultinasurplus.ANS:

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.ANS:

1