经济学：微观经济分析(一)及答案解析.doc

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1、经济学：微观经济分析(一)及答案解析(总分：55.00，做题时间：90 分钟)一、B单项选择题/B(总题数：55，分数：55.00)1.Income elasticity is defined as the: A. percentage change in income divided by the percentage change in the quantity demanded. B. change in quantity demanded divided by the change in income. C. percentage change in the quantity dema

2、nded divided by the percentage change in income.（分数：1.00）A.B.C.D.2.According to the “invisible hand“ principle, which of the following statements is least accurate? A. Competitive markets produce an optimal basket of goods and services. B. Efficient allocation of productive resources occurs through

3、competition. C. The authority of the state, although not seen, must always be present in the market.（分数：1.00）A.B.C.D.3.Product differentiation is the greatest source of market power for which of the following market structures ? A. Perfect competition. B. Oligopoly. C. Monopolistic competition.（分数：1

4、.00）A.B.C.D.4.Suppose that the demand curve for honey shifts such that the equilibrium price for a pound of honey increases from $ 7 to $ 9 per pound. At the new equilibrium, the quantity supplied increases from 500 pounds per month to 600 pounds per month, although the supply curve has not shifted.

5、 The elasticity of supply for honey is closest to: A. +0.91. B. +0.73. C. +1.12.（分数：1.00）A.B.C.D.5.Which of the following statements about the elasticity of demand is least accurate? A. The most important determinant of price elasticity of demand is the availability of substitutes. B. Prices are mor

6、e elastic in the long run than in the short run. C. When demand is inelastic, an increase in price will cause a decrease in the total expenditure on a good.（分数：1.00）A.B.C.D.6.Which of the following is least likely to be the result of a minimum wage? A. Unemployment will rise. B. There will be an abu

7、ndance of low-skilled workers willing to work. C. Labor will be substituted for capital.（分数：1.00）A.B.C.D.7.Compared to normal markets, the existence of fraud and the use of violence in black markets generally leads to: A. poorer economic efficiency. B. superior economic efficiency. C. lower profit r

8、ates for sellers.（分数：1.00）A.B.C.D.8.Which of the following is least likely to be the long-run effect of a price ceiling that is set below the equilibrium price? A. Sellers take bribes. B. Suppliers discriminate. C. Sellers improve quality.（分数：1.00）A.B.C.D.9.A columnist is discussing how the efficien

9、t quantity of output for a good or service is determined. These two statements appear in his column:Statement 1: The equilibrium quantity of production for a good or service can be considered efficient as long as the marginal social benefit of that quantity is greater than its marginal social cost.S

10、tatement 2: Subsidies and quotas typically result in production of a good or service in quantities at which the marginal social cost exceeds the marginal social benefit.Are these statements correct?Statement 1 Statement 2A. Correct CorrectB. Correct IncorrectC. Incorrect Incorrect A. B. C. （分数：1.00）

11、A.B.C.D.10.For which the following four-firm concentration ratios and Herfindahl-Hirschman indexes (HHI) indicates a highly competitive market?Four-Firm Ratio HHIA. 5% 150B. 98% 9500C. 98% 150 A. B. C. （分数：1.00）A.B.C.D.11.In a regulated industry, the introduction of a marginal cost pricing role that

12、 maximizes total surplus would most likely be viewed as: A. inefficient but leaves the natural monopoly incurring an economic loss. B. inefficient and allows the natural monopoly to realize an economic gain. C. efficient but leaves the natural monopoly incurring an economic loss.（分数：1.00）A.B.C.D.12.

13、Which of the following most accurately describes the impact of a price ceiling set below the equilibrium price for a good and a minimum wage set above the equilibrium wage? Price ceiling Minimum wage A. Shortage Decreased unemployment B. Surplus Increased unemployment C. Shortage Increased unemploym

14、ent A. B. C. （分数：1.00）A.B.C.D.13.The production of a rock concert is an example of which type of organization of an economic activity? A. Finn coordination. B. Market coordination. C. Economic coordination.（分数：1.00）A.B.C.D.14.If accurately calculated, will the amount of accounting profit for a firm

15、generally: be below that firms economic consider both that firms profit for the same time period? explicit and implicit costs? A. No No B. No Yes C. Yes No A. B. C. （分数：1.00）A.B.C.D.15.If quantity demanded declines 20 percent when incomes fall 3 percent, this good is: A. a luxury good. B. a necessit

16、y. C. an inferior good.（分数：1.00）A.B.C.D.16.Which of the following statements about price elasticity is most likely FALSE? A. The elasticity of demand of a good increases over time. B. If the price of gasoline increases, total expenditures on gasoline will increase. C. If the price of a brand of toil

17、et paper increases, total expenditure on that brand of toilet paper will increase.（分数：1.00）A.B.C.D.17.A minimum wage is an example of which of the following? A. A price ceiling. B. A quota. C. A price floor.（分数：1.00）A.B.C.D.18.Because copper producers are allowed to release harmful chemicals into th

18、e air, the industry supply curve is not the marginal social cost curve. Given this situation and a copper market that is otherwise competitive, copper producers will A. produce less than the efficient amount of copper, an example of the “free rider“ problem. B. produce less than the efficient amount

19、 of copper, resulting in a dead weight loss from underproduction. C. produce more than the efficient amount of copper, resulting in a deadweight loss from overproduction.（分数：1.00）A.B.C.D.19.Which of the following most accurately describes societys allocation of resources to the production of goods w

20、ith external costs or external benefits?External costs External benefitsA. Over-allocation Over-allocationB. Under-allocation Under-allocationC. Over-allocation Under-allocation A. B. C. （分数：1.00）A.B.C.D.20.Which of the following is least likely to be considered an obstacle to the efficient allocati

21、on of an economys resources? A. Rent controls. B. Minimum wages. C. Changes in consumer tastes.（分数：1.00）A.B.C.D.21.Thompson Industries has the following short-run cost structure per level of production output:Output Units (Q) Total Costs (TC) Fixed Costs (FC)30000 $ 240000 $1200050000 $ 360000 $1200

22、070000 $ 480000 $1200090000 $ 570000 $12000Based on the above and assuming a sales price of $10 per unit, what is the marginal cost per unit if the Companys output is increased from 50000 units to 70000 units? A. $6.86 B. $6.00 C. $4.60（分数：1.00）A.B.C.D.22.Economics commentator Gail Brythe is discuss

23、ing the different factors that influence the elasticity of supply. She states the following: Statement 1: Elasticity of supply is greater when a good or service can only be produced with unique or rare inputs. Statement 2: Typically, a goods momentary supply elasticity is higher than its short-run s

24、upply elasticity, which in tuna is higher than its long-run supply elasticity. Are Brythes statements correct? Statement 1 Statement 2 A. Correct Correct B. Correct Incorrect C. Incorrect Incorrect A. B. C. （分数：1.00）A.B.C.D.23.The short run is best defined as: A. the period for which the quantities

25、of all factors of production are fixed. B. a period of less than one year. C. the period for which the quantities of some resource inputs are fixed.（分数：1.00）A.B.C.D.24.Producer surplus is most accurately defined as the. A. difference between the opportunity cost of producing the last unit of a good

26、or service and the price received for that unit. B. sum of the differences between the marginal benefit and the marginal cost for each unit of good produced and consumed over the total number of units produced and consumed. C. sum of the differences between the price received for each unit of good p

27、roduced and the opportunity cost of each unit.（分数：1.00）A.B.C.D.25.Which of the following concentration ratios are most likely to be associated with a perfectly competitive industry?Four-firm concentration ratio Herfindahl-Hirschman IndexA. 125 1000B. 85 25C. 25 100 A. B. C. （分数：1.00）A.B.C.D.26.When

28、household incomes go down and the quantity of a product demanded goes up, the product is: A. an inferior good. B. a necessity. C. a luxury good.（分数：1.00）A.B.C.D.27.Which of the following statements regarding diminishing marginal returns is most accurate? A. As the quantity produced rises, costs begi

29、n to rise at a decreasing rate. B. As the quantity produced falls, costs begin to rise at a decreasing rate. C. As the quantity produced rises, costs begin to rise at an increasing rate.（分数：1.00）A.B.C.D.28.Consider two markets; one has a Herfindahl-Hirschman Index (HHI) of 50, while the other has a

30、four-firm concentration ratio equal to 2%. Which of the following statements most accurately describes these two markets? A. Both of these markets are monopolies. B. The market with the HHI equal to 50 is very competitive, while the other market has low competition. C. Both markets are highly compet

31、itive.（分数：1.00）A.B.C.D.29.If marginal cost is above the average cost, when you produce your next unit: A. average cost will decline. B. marginal cost will remain unchanged. C. average cost will increase.（分数：1.00）A.B.C.D.30.Christine Dobbs is watching a public affairs television program on which one

32、of the participants makes the following Statements:Statement 1: A common resource is an obstacle to the efficient allocation of resources unless it generates external benefits.Statement 2: The idea of utilitarianism suggests that market allocation of resources does not maximize the value of an econo

33、my to all individuals. However, achieving the results that utilitarianism regards as optimal involves a loss of economic output.Should Dobbs agree or disagree with these statements?Statement 1 Statement 2A. Disagree AgreeB. Agree AgreeC. Agree Disagree A. B. C. （分数：1.00）A.B.C.D.31.Which of the follo

34、wing factors of production is least likely to be fixed in the short run? A. Capital equipment. B. Labor. C. Plant size.（分数：1.00）A.B.C.D.32.Fred Heyach and Gord Murdoll are discussing whether or not competitive markets use resources efficiently. Heyach says, “Competition must lead to the efficient al

35、location of resources. Consumers are willing to pay more for the goods they want most, so producers of those goods can outbid other producers for the resources to make them. Murdoll replies, “At any one point in time the market might allocate resources efficiently given consumers preferences, but as

36、 consumers change their minds about which goods they want, the allocation of resources becomes inefficient. “ Are these statements correct or incorrect?Heyach MurdollA. Correct IncorrectB. Incorrect CorrectC. Incorrect Incorrect A. B. C. （分数：1.00）A.B.C.D.33.Matthew Reeves is listening to a discussio

37、n on how resources move to the most efficient allocation. Two of the participants make these statements:Statement 1: When resources are diverted from beer production to wine production, this represents an inefficient allocation from the perspective of the beer producers.Statement 2: Market allocatio

38、n of resources tends toward efficiency because the value of what a resource can produce determines its allocation in production.Should Reeves agree or disagree with these statements?Statement 1 Statement 2A. Disagree AgreeB. Agree AgreeC. Agree Disagree A. B. C. （分数：1.00）A.B.C.D.34.Equilibrium in a

39、perfectly competitive market results in a quantity for which the: A. difference between consumer and producer surpluses is maximized. B. consumer and producer surpluses are equal. C. sum of consumer and producer surpluses is maximized.（分数：1.00）A.B.C.D.35.The price of product Z decreased from $ 2.50

40、per unit to $ 2.00 per unit. Since the price decreased, demand has gone up from 3 million units to 4 million units. Calculate the price elasticity of demand and determine if the demand is elastic or inelastic.（分数：1.00）A.B.C.D.36.Which of the following two factors are most likely to be considered var

41、iable during the short run? A. Labor and technology. B. Labor and raw materials. C. Raw materials and technology.（分数：1.00）A.B.C.D.37.Which of the following statements least accurately describes why firms can coordinate economic activity more efficiently than markets? Firms can achieve: A. economies

42、of scope. B. diversification benefits. C. economies of scale.（分数：1.00）A.B.C.D.38.Which of the following most accurately describes the typical relationship between marginal product (MP) and average product (AP) ? As the quantity of labor increases: A. initially, AP MP, then AP = MP, then AP MP. B. in

43、itially, AP = MP, then AP MP. C. AP is always less than MP.（分数：1.00）A.B.C.D.39.For a given good or service, the marginal social benefit ( MSB and the marginal social cost (MSC) curves are least accurately described by which of the following? A. Producer surplus is determined by price and the MSC cur

44、ve and consumer surplus is determined by price and the MSB curve. B. The efficient allocation of resources occurs where the difference between the MSB and MSC curves is maximized. C. The market demand curve is the same as the MSB curve, and the market supply curve is the same as the MSC curve.（分数：1.

45、00）A.B.C.D.40.A minimum wage set above the equilibrium minimum wage will most likely have which of the following effects? A. It will have no effects. B. Unemployment will rise. C. There will be a shortage of workers.（分数：1.00）A.B.C.D.41.Which of the following statements is most likely to characterize

46、 the principal-agent problem between buyers and sellers of services? A. Principals can impose their own objectives on agents. B. Principals can have complete information about agent behavior. C. Agents cannot be completely monitored.（分数：1.00）A.B.C.D.42.Marginal benefit is most accurately described a

47、s the: A. benefit from producing one more unit of a good or service. B. benefit an individual gets from consuming an additional unit of a good or service. C. benefit that must be forgone in order to consume an additional unit of a good or service.（分数：1.00）A.B.C.D.43.Which of the following condition

48、is least likely to be the obstacle to the efficient allocation of productive resources: A. Price controls B. Taxes and trade restrictions C. Perfect competition（分数：1.00）A.B.C.D.44.Which of the following statements is most accurate? A method of production is economic efficiency when: A. It uses the most advanced science and technology. B. The cost of fund capital is as low as possibie. C. The cost of producing a given level of output is as low as possible.（分数：1.00）A.B.C.D.45.If the last unit of input increases total product we know that the marginal product