经济学：市场结构和宏观经济分析(二)及答案解析.doc

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1、经济学：市场结构和宏观经济分析(二)及答案解析(总分：44.00，做题时间：90 分钟)一、B单项选择题/B(总题数：44，分数：44.00)1.The short-run supply curve to a firm operating under perfect competition is most accurately described as the segment of the: A. marginal cost curve below the average total cost curve. B. average total cost curve above the margi

2、nal cost curve. C. marginal cost curve above the average variable cost curve.（分数：1.00）A.B.C.2.A firm operating as a price taker will: A. be a revenue maximizer. B. face an inelastic demand curve. C. produce quantity where P=MR=MC.（分数：1.00）A.B.C.3.According to basic Economics Theory, As compared with

3、 acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in : A. both output and prices. B. neither output nor prices. C. prices and a decrease in output.（分数：1.00）A.B.C.4.When smaller amounts of additional labor are supplied

4、 in response to increases in the wages offered, this is known as the: A. substitution effect. B. income effect. C. marginal rate of substitution.（分数：1.00）A.B.C.5.For which of the following natural resources does the appropriate model indicate that the price is determined by demand rather than by sup

5、ply? A. Oil. B. Old-growth timber. C. Farm land.（分数：1.00）A.B.C.6.According to the new classical model, a reduction in current taxes that is financed by government borrowing will most likely increase: A. household saving but not real interest rates. B. real interest but not household saving. C. both

6、household saving and real interest rates.（分数：1.00）A.B.C.7.Which of the following types of unemployment is most likely to be associated with an economy in which many workers have been made obsolete by changing technology? A. Cyclical. B. Marginal. C. Structural.（分数：1.00）A.B.C.8.The firms demand curve

7、 for labor is: A. identical to the supply curve of the output product. B. the mirror image of the supply curve of the output product. C. the downward sloping portion of the marginal revenue product of labor curve.（分数：1.00）A.B.C.9.Patch Grove Analytics is evaluating candidates for an economic analyst

8、 internship. To demonstrate his grasp of the effects of consumer behavior on aggregate demand, a candidate makes the following statements during his interview:Statement 1: The wealth effect occurs when consumers feel wealthier at higher price levels because their wages will also increase, and spend

9、more in the current period as a result.Statement 2: Intertemporal substitution accounts for consumers tendency to increase their planned purchases in the current period and decrease planned future purchases when interest rates increase.Are these two statements correct?Statement 1 Statement 2A. Incor

10、rect IncorrectB. Incorrect CorrectC. Correct Incorrect A. B. C. （分数：1.00）A.B.C.10.Which of the following employment measures is most closely related to the level of real GDP? A. Labor force participation ratio. B. Number of employed. C. Aggregate hours.（分数：1.00）A.B.C.11.The most likely effects of th

11、e imposition of an effective increase in the minimum wage include: A. an increase in the real wage, gains in efficiency, and a decrease in inflation. B. increased unemployment, and excess supply of labor at the new wage rate, and a decrease in economic efficiency. C. a reduction in non-monetary labo

12、r benefits, excess demand for labor, and a shortage of highly skilled workers.（分数：1.00）A.B.C.12.In the long-run, after all firms in a perfectly competitive industry have adopted new technology, the: A. price will be set where average variable cost is equal to marginal revenue. B. price will equal mi

13、nimum average total cost. C. individual firm supply will decrease as the cost of implementing technology increases.（分数：1.00）A.B.C.13.Which of the following is NOT a characteristic of perfect competition? A. The products produced within a given market are homogenous. B. The demand curve for an indivi

14、dual firm is a vertical line. C. The size of each firm is small relative to the size of the overall market.（分数：1.00）A.B.C.14.In a perfectly competitive industry, the short-run supply curve for the market is the: A. marginal cost curve above the average variable cost curve. B. sum of the individual s

15、upply curves for all firms in the industry. C. average variable cost curve above the marginal cost curve.（分数：1.00）A.B.C.15.Under perfect competition, a firm will be inclined to increase output as long as which of the following conditions exists? A. Marginal revenue is greater than marginal cost. B.

16、Marginal cost is less than average cost. C. Marginal revenue is positive.（分数：1.00）A.B.C.16.In the long run, if price is below average total cost (ATC), the firm will: A. shut down. B. keep running. C. produce more.（分数：1.00）A.B.C.17.Which of the following statements about a monopolist is least accura

17、te? A. The monopolist faces a downward sloping demand curve. B. Unlike an oligopolist, a monopolist will always be able to earn economic profit. C. A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.（分数：1.00）A.B.C.18.Full employment is said to occur when: A

18、. the natural rate of unemployment equals zero. B. the number employed divided by the number in the labor force is less then 5.0 percent. C. cyclical unemployment equals zero.（分数：1.00）A.B.C.19.Which one of the following is most likely to contribute to the presence of monopoly in an industry? A. Lega

19、l barriers to entry into the industry. B. Diseconomies of scale. C. An elastic market demand for the product produced by the industry.（分数：1.00）A.B.C.20.A monopolist will continue expanding output as long as: A. marginal revenue is positive. B. marginal revenue is greater than marginal cost. C. avera

20、ge total costs are declining.（分数：1.00）A.B.C.21.What is the relationship between price and marginal revenue for a price searcher? A. Marginal revenue price. B. Marginal revenue price. C. Marginal revenue = price.（分数：1.00）A.B.C.22.In the long run, a perfectly competitive firm will earn? A. Small econo

21、mic profits. B. Large accounting profits. C. Zero economic profits.（分数：1.00）A.B.C.23.Which of the following is the most likely result of a technological improvement in a perfectly competitive industry? A. Individual firms supply curves shift to the left. B. The industry supply curve shifts to the ri

22、ght. C. The costs for individual firms increase.（分数：1.00）A.B.C.24.The quantity of labor that a profit maximizing firm will employ, holding other input factors constant, is the level at which: A. the marginal revenue product of labor is equal to the wage rate. B. the marginal product of labor is equa

23、l to the marginal cost of labor. C. one more unit of labor would cost less than the value of its additional output.（分数：1.00）A.B.C.25.North Shore Excursions faces a downward sloping demand curve, hasthree identifiable customer groups with the same elasticity of demand, and can prevent resale of the p

24、roduct. Can North Shore profit from pricediscrimination and in general, does a firm that engages in pricediscrimination achieve more gains from customers with elastic or with inelastic demand?Can North Shore profit? Higher gain from customers with:A. Yes Elastic demandB. Yes Inelastic demandC. No In

25、elastic demand A. B. C. （分数：1.00）A.B.C.26.The demand curve for a firm in a perfectly competitive market is: A. upward sloping. B. vertical. C. horizontal.（分数：1.00）A.B.C.27.Monetarists believe that: A. shifts in aggregate demand arise from changes in expectations. B. monetary policy has a significant

26、 impact on aggregate demand. C. money wages tend to adjust quickly when aggregate supply and aggregate demand are in disequilibrium.（分数：1.00）A.B.C.28.Which one of the following structures is characterized by free entry and exit, a differentiated product, and price searcher behavior? A. Oligopoly. B.

27、 Monopolistic competition. C. Pure competition.（分数：1.00）A.B.C.29.Which of the following is least likely a condition that characterizes competitive price-searcher markets (monopolistic competition)? A. Low barriers to entry. B. Large number of independent sellers. C. Producers face horizontal demand

28、curves.（分数：1.00）A.B.C.30.Which of the following describes the regulatory practice of setting prices at a level where the monopoly firms average total cost curve intersects the demand curve? A. Average cost pricing. B. Marginal cost pricing. C. Cost-of-service pricing.（分数：1.00）A.B.C.31.If a regulator

29、y agency intervenes to reduce prices, a monopoly will most likely expand output to the level where: A. Marginal cost equals supply. B. Average cost equals marginal revenue. C. Average cost equals demand.（分数：1.00）A.B.C.32.Marginal revenue product is best defined as the: A. additional output that resu

30、lts from employing one more unit of a productive input. B. gain in total revenue from selling one more unit of output. C. addition to total revenue from selling the additional output from using one more unit of an input.（分数：1.00）A.B.C.33.A firm in a perfectly competitive industry that seeks to maxim

31、ize profit is most likely to continue production in the short run as long as which of the following conditions exists? Price is equal to or greater than : A. average fixed cost. B. average total cost. C. average variable costs.（分数：1.00）A.B.C.34.Are the following two statements about the elasticity o

32、f labor demand correct? Statement 1: Labor demand is more elastic in the short run than in the long run because other factors of production are fixed in the short run. Statement 2: The more labor-intensive a firms production processes, the more elastic the firms demand for labor will be. Statement 1

33、 Statement 2 A. Correct Correct B. Correct Incorrect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C.35.An economy has been producing at its full-employment level of output and the price level has been stable. Businesses then begin experiencing unintended decreases in their inventory levels. What does

34、this most likely imply about the short-run outlook for economic growth and inflation? Economic growth Inflation A. Increasing Decreasing B. Decreasing Increasing C. Increasing Increasing A. B. C. （分数：1.00）A.B.C.36.An increase in the expected rate of inflation is most likely to cause aggregate demand

35、 and short-run aggregate supply to: Aggregate demand Short-run aggregate supply A. Increase Increase B. Increase Decrease C. Decrease Increase A. B. C. （分数：1.00）A.B.C.37.A competitive firm will tend to expand its output as long as: A. its marginal revenue is positive. B. the market price is greater

36、than the marginal cost. C. its marginal revenue is greater than the market price.（分数：1.00）A.B.C.38.A perfectly competitive firm will continue to increase output so long as which of the following conditions exists? A. Marginal revenue is greater than price. B. Marginal revenue is positive. C. Market

37、price is greater than marginal cost.（分数：1.00）A.B.C.39.The natural rate of unemployment exists when: A. the economy operates below full employment. B. the economy operates at full employment. C. frictional unemployment is zero.（分数：1.00）A.B.C.40.Is a gold mine an example of a renewable or non-renewabl

38、e resource and is the supply curve of gold perfectly elastic or inelastic in theory? Type of resource Supply curve A. Renewable Inelastic B. Renewable Elastic C. Non-renewable Elastic A. B. C. （分数：1.00）A.B.C.41.Something that oligopolists will try to engage in with another firm in setting a higher p

39、rice is called : A. high economic profits. B. prisoners dilemma. C. collusion.（分数：1.00）A.B.C.42.Hay farmers are in a perfectly competitive market. Assume that each acre of land produces 100 bushels of hay. The marginal revenue product of an acre of land is then: A. (price of hay per bushel)/100. B.

40、price of hay per bushel. C. 100 (price of hay per bushel).（分数：1.00）A.B.C.43.The kinked demand model assumes that below the current price, the demand curve becomes: A. less elastic because competitors will not decrease their prices. B. more elastic because competitors will not decrease their prices.

41、C. less elastic because competitors will decrease their prices.（分数：1.00）A.B.C.44.A firm should continue adding to its capital until the marginal product of capital is: A. equal to the marginal revenue product of labor. B. greater than the cost of capital. C. equal to the cost of capital.（分数：1.00）A.B

42、.C.经济学：市场结构和宏观经济分析(二)答案解析(总分：44.00，做题时间：90 分钟)一、B单项选择题/B(总题数：44，分数：44.00)1.The short-run supply curve to a firm operating under perfect competition is most accurately described as the segment of the: A. marginal cost curve below the average total cost curve. B. average total cost curve above the mar

43、ginal cost curve. C. marginal cost curve above the average variable cost curve.（分数：1.00）A.B.C. 解析：The short-run supply curve for a firm under perfect competition is the segment of its marginal cost (MC) curve above the average variable cost (AVC) curve.2.A firm operating as a price taker will: A. be

44、 a revenue maximizer. B. face an inelastic demand curve. C. produce quantity where P=MR=MC.（分数：1.00）A.B.C. 解析：A firm operating as a price taker will produce quantity where MC = MR. It will maximize profit and not revenue. In the long run, it will make zero economic profits after taking into account

45、fair return on capital.3.According to basic Economics Theory, As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in : A. both output and prices. B. neither output nor prices. C. prices and a decrease in

46、 output.（分数：1.00）A.B.C. 解析：As the companies agree to restrict output, market price will rise above average total cost and joint economic profits will accrue.4.When smaller amounts of additional labor are supplied in response to increases in the wages offered, this is known as the: A. substitution ef

47、fect. B. income effect. C. marginal rate of substitution.（分数：1.00）A.B. C.解析：The income effect results in smaller additions to the labor supply as wages increase. Like any good, income received in the form of wages has a decreasing marginal utility. When the point is reached at which the utility rece

48、ived is equal to the marginal cost of leisure foregone, the maximum amount of labor that will be offered is reached.5.For which of the following natural resources does the appropriate model indicate that the price is determined by demand rather than by supply? A. Oil. B. Old-growth timber. C. Farm land.（分数：1.00）A.B.C. 解析：Farm land is a renewable resource and is modeled with inelastic supply per time period so that the equilibrium price is determined by demand. The other two are most appropriately treated as non-renewable resources with perfectly el