经济学：市场结构和宏观经济分析及答案解析.doc

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1、经济学：市场结构和宏观经济分析及答案解析(总分：177.00，做题时间：90 分钟)一、B单项选择题/B(总题数：177，分数：177.00)1.In a discussion about the factors that determine a firms demand for labor, Kathleen Jorgensen asserts the following: Statement 1: A firms marginal revenue curve is equivalent to its short-run labor demand curve. Statement 2: A

2、decrease in the equilibrium market price of a firms product will increase the firms demand for labor because the firm will sell more units of the product. Are Jorgensens statements correct? Statement 1 Statement 2 A. Correct Correct B. Correct Incorrect C. Incorrect Incorrect（分数：1.00）A.A. B.B. C.C.

3、2.An increase in the expected rate of inflation is most likely to cause aggregate demand and short-run aggregate supply to: Aggregate demand Short-run aggregate supply A. Increase Increase B. Increase Decrease C. Decrease Increase（分数：1.00）A.A. B.B. C.C. 3.Bradley works a 14-hour-per-week job as a ba

4、rtender at McQuigleys Pub. Maddeline left her position at a commercial bank to raise her two-year old daughter. How would these individuals be classified from the viewpoint of employment statistics? Bradley Maddeline A. Not in labor force Not in labor force B. Employed Not in labor force C. Employed

5、 Employed（分数：1.00）A.A. B.B. C.C. 4.Patch Grove Analytics is evaluating candidates for an economic analyst 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 occu

6、rs when consumers feel wealthier at higher price levels because their wages will also increase, and spend 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 fut

7、ure purchases when interest rates increase. Are these two statements correct? Statement 1 Statement 2 A. Incorrect Incorrect B. Incorrect Correct C. Correct Incorrect（分数：1.00）A.A. B.B. C.C. 5.Which of the following is least accurate regarding product development and marketing for firms under monopol

8、istic competition? A. Firms that bring new and innovative products to the market face relatively more elastic demand curves than their competitors. B. Relative to other types of competition, product innovation is critical to the pursuit of economic profits. C. Advertising is necessary to communicate

9、 the uniqueness of the firms products relative to its competitors.（分数：1.00）A.B.C.6.Something that oligopolists will try to engage in with another firm in setting a higher price is called :（分数：1.00）A.A. high economic profits. B.B. prisoners dilemma. C.C. collusion.7.Which of the following most accura

10、tely describes the relationship between price (P), marginal cost (MC), and marginal revenue (MR) at the profit maximizing output level for a firm in a perfectly competitive industry?（分数：1.00）A.A. PMC=MR. B.B. P=MC=MR. C.C. PMCMR.8.All of the following are barriers to entry EXCEPT:（分数：1.00）A.A. price

11、 controls. B.B. resource controls. C.C. patents.9.According to the Keynesian view, an increase in which of the following would most likely decrease current aggregate demand?（分数：1.00）A.A. Budget deficit. B.B. Transfer payments. C.C. Personal income tax rates.10.An oligopolistic firm: A. will consider

12、 the potential response of its rivals when making business decisions. B. is likely to be formed when the minimum-cost output is only a small portion of the market output. C. is likely to be formed when barriers to entry are low.（分数：1.00）A.B.C.11.Which of the following statements about a monopolist i

13、s least accurate? A. A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost. B. A profit-maximizing monopolist will supply less of his product than the amount consistent with the conditions of ideal static efficiency for an economy. C. A monopolist will always

14、be able to earn economic profit.（分数：1.00）A.B.C.12.In a natural monopoly: A. one firm controls all natural resources. B. the government reserves the industry sector dealing with natural resources for a few firms only. C. the average total cost of production continually declines with increased output.

15、（分数：1.00）A.B.C.13.Which of the following regarding monopolistic competition is TRUE? A. Zero barriers to entry and exit exist. B. The demand curve for an individual firm is a straight horizontal line. C. Each firm produces a differentiated product.（分数：1.00）A.B.C.14.Monopolistic competition differs f

16、rom pure monopoly in that: A. barriers to entry are high under monopoly, but low under monopolistic competition. B. monopolistic competitors are price takers, monopolists are not. C. monopolistic competitors face downward sloping demand curves, monopolists do not.（分数：1.00）A.B.C.15.When economists ar

17、e speaking of the labor-force participation rate, they are referring to which of the following? The labor-force participation rate is the percentage of the: A. labor force who are new entrants ( less than one year of work experience). B. working-age population who are not working but are actively lo

18、oking for work. C. working-age population who are either working or actively looking for work.（分数：1.00）A.B.C.16.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. r

19、eal interest but not household saving. C. both household saving and real interest rates.（分数：1.00）A.B.C.17.The firms demand curve 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

20、 marginal revenue product of labor curve.（分数：1.00）A.B.C.18.If an oligopoly is characterized by fierce competition, in long-run equilibrium the firms in the market will earn:（分数：1.00）A.A. zero economic profits. B.B. substantial economic losses. C.C. substantial economic profits.19.Which of the follow

21、ing statements is most accurate regarding monetarists? Monetarists believe that: A. discretionary monetary policy is the best way to moderate fluctuations in prices and output. B. steady, predictable money growth is the best monetary policy. C. the Federal Reserve has very little power with the tool

22、s at their disposal.（分数：1.00）A.B.C.20.Which of the following changes would most likely decrease a firms demand for labor? A. Technological improvement in the firms production process. B. Decrease in the price of the firms product. C. Increase in the price of a productive input that is a substitute f

23、or labor.（分数：1.00）A.B.C.21.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 this most likely imply about the short-run outlook for economic growth and

24、 inflation? Economic growth Inflation A. Increasing Decreasing B. Decreasing Increasing C. Increasing Increasing（分数：1.00）A.A. B.B. C.C. 22.Characteristics of monopolistic competition include all of the following EXCEPT: A. differentiated products. B. high barriers to entry. C. large numbers of indep

25、endent sellers.（分数：1.00）A.B.C.23.A recent report on the Consumer Price Index (CPI) presented the following data for the basket of goods in the apparel category:（分数：1.00）A.ItemB.QuantityC.Price in base periodD.Price in current periodE.Mens and boys apparelF.24G.$15.60H.$16.40I.Womens and gifts appare

26、lJ.43K.$13.90L.$14.60M.Infants and toddlers apparelN.5O.$19.40P.$17.60Q.FootwearR.20S.$12.40T.$12.8024.Which of the following is a characteristic of perfect competition? A. There are a few sellers. B. The products of different firms are sold at different prices. C. There are no barriers to entry int

27、o the market.（分数：1.00）A.B.C.25.Which of the following is most likely to be considered a characteristic of an oligopolistic industry? A. Few barriers to entry. B. Few economies of scale. C. A great deal of interdependence among firms.（分数：1.00）A.B.C.26.All else being equal, will the joint profit of an

28、 oligopolistic industry most likely be maximized if the: number of firms demand for the in the industry decrease? industrys products is stable? A. No No B. No Yes C. Yes Yes（分数：1.00）A.A. B.B. C.C. 27.Natural monopolies exist because they can produce at lower costs with greater output, which means th

29、ere are economies of scale. Which of the following industries is typically a natural monopoly?（分数：1.00）A.A. Technology. B.B. Utilities. C.C. Oil.28.Which of the following statements about a monopolist is most accurate? A monopolist will: A. earn economic profits in all situations. B. maximize the av

30、erage profit per unit sold. C. sell at the output level where marginal revenue equals marginal cost.（分数：1.00）A.B.C.29.The effects on the aggregate demand curve of an increase in expected future incomes and of an increase in the money supply, respectively are most likely: Increase in expected incomes

31、 Increase in money supply A. Increase Increase B. Increase Decrease C. Decrease Increase（分数：1.00）A.A. B.B. C.C. 30.Which of the following is NOT a characteristic of the long-run industry supply curve? A. The long-run supply curve is less elastic than the short run supply curve. B. The long-run suppl

32、y curve is flatter than the short-run supply curve. C. In the long run, there will be a greater change of quantity supplied for a given price change, than in the short run.（分数：1.00）A.B.C.31.An oligopoly is characterized by all of the following EXCEPT:（分数：1.00）A.A. large economies of scale. B.B. sign

33、ificant barriers to entry. C.C. a large number of sellers.32.Consider the following statements: Statement 1: “The sum of consumer and producer surpluses is maximized under both monopoly and perfect competition. “ Statement 2: “All else being equal, a monopolist that practices price discrimination wi

34、ll be more allocatively efficient than a single-price monopolist. “ Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 A. Incorrect Correct B. Correct Correct C. Correct Incorrect（分数：1.00）A.A. B.B. C.C. 33.In the long run, a perfectly competitive firm wil

35、l earn?（分数：1.00）A.A. Small economic profits. B.B. Large accounting profits. C.C. Zero economic profits.34.When a firm is earning positive economic profits in a monopolistic competitive market, what will most likely occur? A. New firms will enter driving down the economic profits to zero. B. Losses w

36、ill occur in the short run. C. Price takers will be over run by price searchers.（分数：1.00）A.B.C.35.Are a firms demand for labor and a firms demand for physical capital more elastic in the long run or in the short run? Demand for labor more elastic in the: Demand for physical capital more elastic in t

37、he: A. short run short run B. long run long run C. short run long run（分数：1.00）A.A. B.B. C.C. 36.The steeper a firms marginal revenue product curve for a given resource, the: A. more elastic the firms demand curve for the resource. B. less elastic the firms demand curve for the resource. C. higher th

38、e mobility of the resource.（分数：1.00）A.B.C.37.When producers expend resources to establish monopoly power in a market, this is called:（分数：1.00）A.A. surplus allocation. B.B. resource rationalization. C.C. rent seeking.38.The natural rate of unemployment exists when: A. the economy operates below full

39、employment. B. the economy operates at full employment. C. frictional unemployment is zero.（分数：1.00）A.B.C.39.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.40.According

40、 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 :（分数：1.00）A.A. both output and prices. B.B. neither output nor prices. C.C. prices and a decrease in output.41.Under per

41、fect competition, a firm will experience zero long term economic profit when: A. price is less than average total cost. B. MR is greater than ATC. C. MC = ATC = MR = price.（分数：1.00）A.B.C.42.Consider the following statements: Statement 1: “A natural monopoly exists when economies of scale are so pron

42、ounced that all of an industrys demand should be supplied by one firm. “ Statement 2: “Monopoly is characterized by a single seller of a distinct product for which no good substitutes exist. “ Statement 3: “Average cost pricing is a form of regulation that is intended to force monopolists to reduce

43、output to the point where the monopolists average total cost curve intersects its marginal cost curve. “ Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 Statement 3 A. Incorrect Correct Incorrect B. Correct Incorrect Correct C. Correct Correct Incorrec

44、t（分数：1.00）A.A. B.B. C.C. 43.Regulations are frequently implemented that attempt to deal with markets with high barriers to entry. Which statement is least likely to be a reason why they often fail? A. Regulators prevent monopolists from making a profit. B. Regulators fail to fully understand the fir

45、ms cost curves and demand schedule. C. An existing firm in the industry is able to influence the regulatory board.（分数：1.00）A.B.C.44.In the long-run, a firm operating under perfect competition will:（分数：1.00）A.A. generate zero economic profit. B.B. face a vertical demand curve. C.C. become a price-sea

46、rcher.45.An industrial economist is evaluating the supply and demand conditions for two different factors of production. Factor 1: The demand curve is derived from the resources marginal revenue product in the current period. Factor 2: The supply curve is perfectly inelastic and the price is determi

47、ned by demand. Which of the following choices most likely identifies these two factors of production? Factor 1 Factor 2 A. Labor Non-renewable resource B. Machinery Renewable resource C. Labor Renewable resource（分数：1.00）A.A. B.B. C.C. 46.Junior economists Diane Foreman and Les Harlan are discussing

48、the concepts of aggregate hours and real wage rates and how they relate to real GDP. They state the following: Foreman: Aggregate hours are a more accurate measure of total labor input than the number of people employed. Aggregate hours tend to be positively correlated with real GDP growth. Harlan:

49、Real wage rates have not increased as much over time as the productivity of labor, but that is largely because a greater share of labor compensation now comes in the form of employer-paid benefits. Are Foreman and Harlan correct? Foreman Harlan A. Correct Correct B. Correct Incorrect C. Incorrect Correct（分数：1.00）A.A. B.B. C.C. 47.Suppose a price-taker firm produces baseball bats that sell at a price of $100 each. This firms average total cost at the current level of production is