Download Multiple Choices Questions (75%, 3% each) 需求 1) Which of the

Multiple Choices Questions (75%, 3% each)
需求
1) Which of the following statements is correct?
A) A change in the quantity demanded means a shift in the demand curve.
B) A change in demand means a movement along the demand curve.
C) A change in demand and change in quantity demanded means the same thing.
D) A change in demand means a shift in the demand curve while change in the quantity demanded means a
movement along the demand curve.
Answer: D
2) Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following
occurs immediately?
A) The quantity of bottled water demanded increases.
B) The quantity of bottled water demanded decreases.
C) The demand for bottled water decreases.
D) The demand for bottled water increases.
Answer: D
供給與市場均衡
3) Both the demand for and supply of cars changes in France. You observe that the quantity of cars does not change
but the price rises. Thus, which of the following occurred?
A) Demand and supply increased by an equal amount.
B) Demand and supply decreased by an equal amount.
C) Demand increased and supply decreased by an equal amount.
D) Demand decreased and supply increased by an equal amount.
Answer: C
供需彈性
4) Suppose the demand for wine is elastic but the supply for wine is inelastic. If a sales tax on wine is imposed, then:
A) the buyers will pay less of the tax than the sellers.
B) the buyers will pay more of the tax than the sellers.
C) the buyers and sellers will pay the tax equally.
D) the buyers will pay the entire tax.
Asnwer: A
5) If the elasticity of supply is 4, a 10 percent increase in the price of a good leads to a
A) 40 percent increase in the quantity of supply.
B) 4 percent decrease in the quantity demanded.
C) 2.5 percent increase in the quantity supplied.
D) 2.5 percent decrease in the quantity demanded.
Answer: A
6) When the price of going to a movie rises 5 percent, the quantity of DVDs demanded increases 10 percent. The
cross elasticity of demand equals
A) 10.0.
B) 2.0.
C) 0.50.
D) -0.50.
Answer: B
消費者選擇
7) All points below a given indifference curve are
A) less preferred to any point on the indifference curve.
B) preferred to any point on the indifference curve.
C) definitely affordable.
D) Both answers A and C are correct.
Answer: A
8) According to the law of diminishing marginal utility, the demand curve is:
A) a flat shape
B) a vertical shape
C) a downward-sloping shape
D) an upward-sloping shape
Asnwer: C
生產理論與成本分析
9) Points on a firm's total product curve are
A) both attainable and technologically efficient.
B) neither attainable nor technologically efficient.
C) attainable but not technologically efficient.
D) technologically efficient but not attainable.
Answer: A
10) Dustin's copy shop can use four alternative plants. The figure above shows the average total cost curves for Plant
1 (ATC1), Plant 2 (ATC2), Plant 3 (ATC3), and Plant 4 (ATC4).What is Dustin's long-run average cost if the output
is 3,000 copies per day?
A) 3.7 cents per copy
B) 5.0 cents per copy
C) 8.5 cents per copy
D) More information is needed to determine the long-run average cost.
Answer: A
Labor (workers) Output (frijoles)
0
5
10
15
20
0
1,000
3,000
4,000
4,500
Total cost
(dollars)
1,000
3,000
5,000
7,000
9,000
11) The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery
Frijoles. What is the total fixed cost of producing 4,500 frijoles?
A) $1,000
B) $8,000
C) $9,000
D) $2,000
Answer: A
完全競爭市場
12) For a perfectly competitive firm, as its output increases its marginal revenue ________ and its marginal cost
________.
A) changes; changes
B) changes; does not change
C) does not change; changes
D) does not change; does not change
Answer: C
13) Which of the following is NOT a characteristic of a perfectly competitive industry?
A) There are many firms.
B) There are no restrictions on entry into the market.
C) Each firm produces a slightly differentiated product.
D) Each firm takes price as given, determined by the equilibrium of industry supply and industry demand.
Answer: C
14) The above figure shows a firm's cost curves and its marginal revenue curve. Based on the figure above, what is
the price of a can?
A) $0
B) $3.00 per can
C) $5.15 per can
D) None of the above prices is correct.
Answer: B
獨占
15) A copyright creates a monopoly by restricting ________.
A) the prices that can be charged
B) demand for the product
C) entry into the market
D) the number of creators and inventors
Answer: C
16) The unregulated, single-price monopolist illustrated in the figure above has a total cost of
A) $8.00 per day.
B) $16.00 per day.
C) $32.00 per day.
D) $40.00 per day.
Answer: C
國民所得的衡量
17) An increase in exports of goods or services with no change in imports of goods or services
A) decreases GDP.
B) increases GDP.
C) may increase or decrease GDP depending on whether it is the export of goods or the export of services that
increased.
D) has no effect on GDP.
Answer: B
18) Which, if any, of the following causes a country's reported GDP to be less than its total economic production?
A) the exclusion of household production
B) the exclusion of government transfers
C) the inclusion of government expenditures
D) None of the above cause reported GDP to be less than total production.
Answer: A
19) The relationship between real GDP and potential GDP is that
A) real GDP always equals potential GDP.
B) real GDP never equals potential GDP.
C) real GDP fluctuates about potential GDP.
D) real GDP is always below potential GDP.
Answer: C
Corporate profits
Gross private domestic investment
Net interest
Indirect taxes less subsidies
Depreciation
Compensation of employees
Personal consumption expenditures
Proprietor’s income
Rental income
Government expenditure on goods and services
200
460
150
230
250
1,350
1,400
150
70
500
20) Using the data in the above table, net exports of goods and services equals
A) $250.
B) $40.
C) $460.
D) some amount that cannot be determined without more information.
Answer: B
失業與通貨膨脹
21) Which type of unemployment increases during a recession?
A) cyclical unemployment
B) frictional unemployment
C) structural unemployment
D) the natural unemployment rate
Answer: A
22) Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt
would be best be considered as
A) still being employed.
B) included in the economy's "hidden employment."
C) frictionally unemployed.
D) cyclically unemployed.
Answer: C
23) If the CPI basket of goods cost $200 in the reference base period and $450 in a later year, the CPI in the later
year equals
A) 225.
B) 250.
C) 300.
D) 450.
Answer: A
24) Using the definition of unemployment, which of the following individuals would be unemployed?
A) A full-time student quits school, enters the labor market for the first time, and searches for employment.
B) Because of the increased level of automobile imports, an employee of General Motors is laid off but expects to
be called back to work soon.
C) Because of a reduction in the military budget, your next door neighbor loses her job in a plant where nuclear
warheads are made and must look for a new job.
D) All of these individuals are unemployed.
Answer: D
25) If the number of people unemployed is 100, the number of people employed is 1100, and the working-age
population is 1400, then the labor force is
A) 1100.
B) 1200.
C) 1400.
D) 1500.
Answer: B
Short Questions (25%)
1) (5%) The demand function and the supply function for product X is D: Q = 45 – P and S; Q = 2P – 15
respectively (Q: unit; P: dollar). When the market is in equilibrium, what is the equilibrium price and
what is the equilibrium quantity?
Answer: the equilibrium price: 20; the equilibrium quantity: 25.
2) The figure above shows a natural monopoly that the government must regulate.
A) (2%) If it isn’t regulated by the government, what the price and the output would be?
B) (4%) How much will this firm earn (profit) or loss and the dead weight loss when the marginal cost
pricing is applied to regulate the firm?
C) (4%) How much will this firm earn (profit) or loss and the dead weight loss when the average cost
pricing is applied to regulate the firm?
Answer:
The price will be 24 dollars per unit and the output will be 20 units per week.
The firm loss (12-8)*40=160 units per week and the dead weight loss is 0 under marginal cost pricing
regulation.
The firm’s profit is 0 and the dead weight loss is (16-8)*(40-30)/2=40 units under average cost pricing
regulation.
3) Consider an economy produced 10000 apples and 5000 oranges in year 1. The price of apple is $5 and
the price of orange is $10. In year 2, the production of apples increased by 10% and oranges decreased
by 10%. The price of the apples is $6 and the price of oranges is $8.
A) (4%) Calculate the nominal GDP in year 1 and 2.
B) (4%) Calculate the real GDP of year 1 and 2 using year 1 as the base year.
C) (2%) Calculate the GDP deflator.
Answer:
Nominal GDP in year 1: 10000(5)+5000(10)=100000
Nominal GDP in year 2: 10000(1.1)(6)+5000(0.9)(8)=102000
Real GDP in year 1: 10000(5)+5000(10)=100000
Real GDP in year 2: 10000(1.1)(5)+5000(0.9)(10)=100000
GDP deflator: 102000/100000 = 1.02