Download Government purchases of goods and services - 國立成功大學-經濟學系

國立成功大學
100 學年度經濟學競試
雙面列印
Part I: 單選題( Please choose one best answer)
75% (each question is 3%)
Government purchases of goods
$240
and services
Depreciation
240
Gross private domestic investment
400
Personal income taxes
140
Net taxes
120
Net exports of goods and services
1.
80
Personal consumption expenditures
640
Net interest
100
From the data in the above table, GDP equals
A)
$1,120.
B)
$1,280.
C)
$1,290.
D)
$1,360.
Answer: D
2.
Using the data in the above table, net domestic product equals
A)
$1,120.
B)
$1,280.
C)
$1,290.
D)
$1,360.
Answer: A
3.
Danny has $12 to spend on two goods: pies and soda. The price of a pie is $4, and the price of a
can of soda is $2. To maximize his utility, Danny buys ________.
A) the combination that gives him equal total utility from pies and soda
B) 2 pies and 2 cans of soda
C) only sodas because they are less expensive
D) the combination that gives him the same marginal utility per dollar spent on pies as on soda
Answer:
D
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Number of
Component
people
(millions)
Total population
246
Working-age population
207
Labor force
139
Employed
133
Unemployed
4.
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Using the information in the above table, the unemployment rate is
A)
4.5 percent.
B)
4.3 percent.
C)
2.8 percent.
D)
6.0 percent.
Answer: B
5. A perfectly competitive firm is producing at the point where its marginal cost equals its marginal
revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall
Answer:
6.
B
Tris owns the only auto repair shop on Lonely Island. Tris is a single-price monopoly, so Tris
operates on the ________ part of the ________ curve.
A) elastic; supply
B) inelastic; supply
C) inelastic; demand
D) elastic; demand
Answer:
D
7. All grapefruit juice producers have decided to blend tangerine juice with the grapefruit juice. This
blend results in a higher cost of production, but studies show that consumers prefer the taste of the
blend to straight grapefruit juice. What will happen to the equilibrium price and quantity of the new
"blended" grapefruit juice now that it costs more to produce but consumers like it better?
A) The price rises and the quantity increases.
B) The price falls and the quantity increases.
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C) The effect on the price is uncertain but the quantity increases.
D) The price rises, but the effect on the quantity is uncertain.
Answer:
D
8. Katie finds that the marginal utility from a compact disc is 30 and the marginal utility from a pizza is
10. The price of a compact disc is $15 and the price of a pizza is $10. In order to increase her utility,
Katie should
A) consume more compact discs and fewer pizzas.
B) consume fewer compact discs and more pizzas.
C) not change her consumption of pizza and compact discs.
D) consume fewer compact discs and fewer pizzas.
Answer:
A
(此題題目打字錯誤，漏打紅色部分，故送分)
9. Suppose the current unemployment rate is 5 percent, the labor force is 400 million people, the labor
force participation rate is 80 percent and the working-age population is 500 million people. What
number of people are unemployed?
A) 100 million people
B) 25 million people
C) 20 million people
D) 5 million people
Answer:
C
10) Which of the following is true of a natural monopoly?
A) Its long-run average cost curve slopes upward as it intersects the demand curve.
B) Economies of scale exist to only a very low level of output.
C) Economies of scale allow one firm to supply the entire market at the lowest possible cost.
D) The firm is not protected by any barrier to entry.
Answer:
C
11. Because there are numerous choices for fast food purchases, the elasticity of demand for Taco Bell
is likely
A)
inelastic.
B)
unitary elastic.
C)
perfectly inelastic.
D)
elastic.
Answer: D
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12. The average product of labor reaches its maximum
A)
at the minimum point of the total product curve.
B)
where the slope of total product curve is steepest.
C)
where the slope of the total product curve is zero.
D)
where marginal and average product are equal.
Answer: D
13.
In perfect competition market, the short run supply curve of each firm is
A)
the marginal cost curve, at all points above the minimum average cost curve.
B)
the marginal cost curve, at all points above the minimum average variable cost curve.
C)
the marginal revenue curve, at all points above the minimum average revenue curve.
D)
the marginal revenue curve, at all points above the minimum average total cost curve.
Answer: B
14.
If economic profit is equal to zero then
A) the entrepreneur's profit as measured by accountants is also equal to zero.
B) the entrepreneur's profit as measured by accountants must be less than zero.
C) the entrepreneur is earning only a normal profit.
D) the entrepreneur profit cannot be determined based on the information given.
Answer:
15.
C
If a larger fraction of the adult population is working in the marketplace, household production
A) counted in real GDP increases.
B) not counted in real GDP increases.
C) counted in real GDP decreases.
D) not counted in real GDP decreases.
Answer:
D
16. An example of the new goods bias in the CPI is the
A) introduction of higher quality brakes as standard equipment on new cars.
B) introduction of hybrid automobiles, vehicles that were not made until recently.
C) decreasing popularity of SUVs as the price of gasoline has risen.
D) switch from traditional car dealerships to low-cost Internet car buying services.
Answer:
B
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17. Which of the following would lead GDP to overstate economic welfare?
A) the existence of home-cooked meals
B) restaurant workers that under-report tip income
C) a self-employed CPA who takes a longer than normal vacation
D) electric utilities that switch to burning coal because of higher natural gas prices and thereby create
more acid rain pollution
Answer:
D
18. Which is the following individuals is the best example of a structurally unemployed worker?
A) A recent college graduate who has entered the labor force.
B) An individual who quits one job in the hope of finding a better job.
C). An automobile worker who has lost her job because of an increase in automobile imports and does
not have the skills currently needed by businesses.
D). An individual who has been laid off from his job because of a business cycle recession.
Answer: C
19.
When marginal revenue is greater than zero in monopoly, the elasticity of demand must be (in
absolute value)
A)
greater than one.
B)
less than one.
C)
equal to one.
D)
equal to zero.
Answer: A
20. As the quantity produced increase
A) Average fixed cost decreases
B) Fixed cost increases
C) Variable cost decreases
D) None of the above
Answer: A
21.Which of the following shifts the supply curve rightward?
A) an increase in the population
B) a positive change in preferences for the good
C) a decrease in the price of the good
D) a decrease in the price of a factor of production used to produce the good
Answer:
D
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22. Moving along a given budget line,
A) prices and real income both decrease.
B) prices fall and real income is constant.
C) real income decreases and prices are constant.
D) prices and real income are constant.
Answer:
D
23. If there are 1,000 rutabaga farms, all perfectly competitive, an increase in the price of fertilizer
used for growing rutabagas will
A)
have no effect on the total quantity of rutabagas supplied, because no farm has enough market
power to raise the price.
B)
have no effect on the total quantity of rutabagas supplied, because each farm’s supply curve is a
vertical line.
C)
decrease the total quantity of rutabagas supplied, because each farm’s supply curve shifts
leftward.
D)
reduce the total quantity of rutabagas supplied, because each farm’s supply curve is a horizontal
line and will shift upward.
Answer: C
24. The cost of basics like milk, bread, potatoes and bananas has jumped in the past year, forcing
families to nix luxuries, steer away from organic goods and buy more house brands.
What does
customer Elize Joseph mean when she said "You can cut back on buying clothes and shoes but you
can't do that with food. You have to eat."
A) The price elasticity of demand for food is higher than for clothes
B) The price elasticity of demand for food is lower than for clothes
C) Income elasticity of demand for food is positive
D) Income elasticity of demand for food is negative
Answer:
B
25. Real GDP is not a perfect indicator of economic welfare because ________.
A) it includes the underground economy
B) it includes a direct measure of health and life expectancy
C) it underestimates inflation
D) economic welfare depends on many factors not measured or not measured accurately by real GDP
Answer:
D
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Part II: Open questions: 25%
1. Using supply-and-demand diagrams, show and explain the effects of the following events on the
price of CD-Rs and the quantity of CD-Rs sold. For each event, identify which of the determinants of
demand or supply is affected, how it influences demand or supply, and what happens to the equilibrium
price and quantity. (12%)
a) Producers introduce new cost-saving technologies in their CD-R production plants.
b) Free peer-to-peer music exchange through the Internet becomes legal.
2. Below are some data from the land of milk and honey.
Price of
Quantity of Milk
Price of Honey
Quantity of
Year
Milk
Honey
2010
$1
100 quarts
$2
50 quarts
2011
$1
200
$2
100
2012
$2
200
$4
100
Please Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2010 as the base
year. (13%)
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Question 1 Answer:
a) The figure above shows the effect of a
technological
advancement
in
the
production of CD-Rs. The new technology
increases the supply of CD-Rs, shifting the
supply curve rightward. As a result, the
equilibrium price falls from P0 to P1 and the
equilibrium quantity increases from Q0 to
Q1.
b) The figure above shows the effect of
making free peer-to-peer downloading of
music legal. Making free peer-to-peer music
downloading legal leads to more downloads
and more people copying music files to CDs.
Therefore, the demand for CD-Rs increases
and the demand curve shifts rightward. As a
result, the equilibrium price rises, from P0 to
P1 and the equilibrium quantity increases
from Q0 to Q1.
Question 2 Answer:
a. Calculating nominal GDP:
2010: ($1 per qt. of milk*100 qts. milk) + ($2 per qt. of honey*50 qts. honey) =
$200
2011: ($1 per qt. of milk*200 qts. milk) + ($2 per qt. of honey*100 qts. honey) =
$400
2012: ($2 per qt. of milk*200 qts. milk) + ($4 per qt. of honey*100 qts. honey) =
$800
Calculating real GDP (base year 2010):
2010: ($1 per qt. of milk*100 qts. milk) + ($2 per qt. of honey*50 qts. honey) =
$200
2011: ($1 per qt. of milk*200 qts. milk) + ($2 per qt. of honey*100 qts. honey) =
$400
2012: ($1 per qt. of milk*200 qts. milk) + ($2 per qt. of honey*100 qts. honey) =
$400
Calculating the GDP deflator:
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2010: ($200/$200)*100 = 100
2011: ($400/$400)*100 = 100
2012: ($800/$400)*100 = 200
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