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經濟學競試
請注意：此次競試時間僅有50分鐘，故題目相對為多，請善加分配並利用你有限
的時間，這也是經濟學的一部份。
選擇題(75%)
1). The statement “An increase in the price of gasoline will lead to a decrease in the
amount purchased” is
A) a political statement.
B) a positive statement.
C) a normative statement.
D) a scientific statement.
Answer: B
2). As the opportunity cost of a good falls, the substitution effect implies that people
buy
A) less of that good and more of its substitutes.
B) more of that good and less of its substitutes.
C) less of that good and less of its substitutes.
D) more of that good and more of its substitutes.
Answer: B
3). The above figure illustrates the labor market for local fast food restaurants. What
would be the effects of a minimum wage imposed at $4 per hour?
A) a shortage of 200 hours
B) a shortage of 100 hours
C) a surplus of 200 hours
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D) nothing because the minimum wage has no effect on the equilibrium price and
quantity.
Answer: D
4). The fact that the fourth plate from the “All You Can Eat Country Buffet”
generated more satisfaction than the fifth plate is an example of
A) increasing marginal utility.
B) diminishing marginal utility.
C) diminishing total utility.
D) the “paradox of value.”
Answer: B
5). If the price of a hot dog is $2 and the price of a hamburger is $4, then the
A) relative price of a hot dog is 1/2 of a hamburger.
B) money price of a hot dog is 2 hamburgers.
C) relative price of a hamburger is 1/2 of a hot dog.
D) money price of a hamburger is 2 hot dogs.
Answer: A
6). The elasticity of supply does NOT depend on
A) resource substitution possibilities.
B) the fraction of income spent on the product.
C) the time elapsed since the price change.
D) None of the above because all of the factors listed affect the elasticity of supply.
Answer: B
7). As Mary’s income increases by 20 percent, her demand for tickets to National
Hockey League games increases by 10 percent. Mary’s demand for tickets is
income; for Mary, hockey tickets are good.
A) elastic; a normal
B) inelastic; a normal
C) elastic; an inferior
D) inelastic; an inferior
Answer: B
8). Consumer's surplus may be defined as:
A) excess cash to spend after necessities have been taken care of
B) surplus of consumer savings during inflation
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C) surplus of satisfaction which a customer may derive from a purchase
D) none of the above
Answer: C
9). When the wage rate increases from $5.00 to $7.50 per hour, Bob works more
hours because
A) his income effect outweighs his substitution effect.
B) his substitution effect outweighs his income effect.
C) his income and substitution effects offset each other exactly and his demand for
labor increases.
D) his income and substitution effects offset each other exactly and his supply of
labor increases.
Answer: B
10). Matthews spends his weekly income on gin and cocktail olives. The price of gin
has risen from $7 to $9 per bottle, the price of cocktail olives has fallen from $6 to
$5 per jar, and Mark’s income has stayed fixed at $46 per week. Since the price
changes, Mark has been buying 4 bottles of gin and 2 jars of cocktail olives per
week. Matthews prefers
A) the original consumption bundle.
B) the consumption bundle after price change.
C) (A) or (B) indifferently.
D) neither (A) nor (B)
Answer: A
11). A family on a trip budgets $800 for meals and hotel accommodations. Suppose
the price of a meal is $40. In addition, suppose the family could afford a total of 8
nights in a hotel if they don’t buy any meals. How many meals could the family
afford if they gave up two nights in the hotel?
A) 1
B) 2
C) 5
D) 8
Answer: C
12). The short run is a period of time in which
A) the quantities of some resources the firm uses are fixed.
B) the amount of output is fixed.
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C) prices and wages are fixed.
D) nothing the firm does can be altered.
Answer: A
13). The above figure shows the costs at Barney’s Bagel Bakery. After 3000 bagels
are produced each day, the ATC curve starts to slope upward because
A) the MC curve slopes upward.
B) the MC exceeds the ATC.
C) Both of the above.
D) Neither of the above.
Answer: B
14). In the short run, a perfectly competitive firm might
A) set its price above marginal cost.
B) set its price above marginal revenue.
C) adjust the size of its fixed inputs.
D) operate even though it is incurring an economic loss.
Answer: D
15). At its shutdown point, a perfectly competitive firm earns total revenue that
A) exceeds its total cost.
B) generates a normal profit.
C) just equals its total variable cost.
D) exceeds its total variable cost.
Answer: C
16). Patents create monopolies by restricting
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A) demand.
B) prices.
C) entry.
D) profit.
Answer: C
17). It is easier for a monopolist to price discriminate between groups for a service
than for a product because
A) it is easier to calculate average willingness to pay for services.
B) it is easier to distinguish between groups of customers for services than customers
for products.
C) it is easier for consumers to resell products than services.
D) customers for products usually do not differ with respect to their average
willingness to pay.
Answer: C
18). The circular flow shows that the household sector earns its income by
A) selling factors of production.
B) buying factors of production.
C) selling goods and services.
D) selling financial assets.
Answer: A
19). Recessions are commonly defined to occur
A) whenever unemployment increases.
B) when growth in real GDP decreases for two consecutive quarters.
C) when growth in real GDP is negative for two consecutive quarters.
D) when the unemployment rate exceeds 6 percent.
Answer: C
20). If a new and better good replaced an older and less expensive good, then the price
level measured by the CPI ________.
A) is lower than the actual price level
B) is higher than the actual price level
C) might be either higher or lower than the actual price
D) is the same as the actual price level because it measures the prices of the actual
goods.
Answer: B
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21). Transactions involving items produced in the past, such as the sale of a
5-year-old automobile by a used car dealership or the purchase of an antique
rocking chair by a person at a yard sale, are
A) included in current GDP because GDP measures the value of all goods and
services sold in the current year.
B) included in current GDP but valued at their original prices.
C) not included in current GDP because GDP only measures the value of goods and
services produced in the current year.
D) not included in current GDP because these items have no current value.
Answer: C
Component
Amount
(billions of dollars)
Gross investment
1300
Personal consumption expenditure
1475
Depreciation
25
Government expenditure on goods
and services
1315
U.S. imports
260
U.S. exports
249
Compensation of employees
65
22). The above table gives data for a hypothetical nation. Gross domestic product is
A) $4,049 billion.
B) $4,079 billion.
C) $4,054 billion.
D) $4,339 billion.
Answer: B
23). Full-time students and prisoners are ________.
A) not in the labor force
B) in the labor force
C) counted as discouraged workers
D) counted as unemployed
Answer: A
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24). Suppose that a large number of men who used to work or seek work now no
longer do either. Other things the same, this makes
A) the number of people unemployed rise but does not change the labor force.
B) the number of people unemployed rise but makes the labor force fall.
C) both the number of people unemployed and the labor force fall.
D) the number of people unemployed fall but does not change the labor force.
Answer: C
25). Suppose the Consumer Price Index for the year 2007 is 143.6. What does that
number mean?
A) On average, goods cost $143.60 each in 2007.
B) On average, goods cost $243.60 each in 2007.
C) Prices rose 143.6 percent over the reference base period, on average.
D) Prices rose 43.6 percent over the reference base period, on average.
Answer: D
問答題(第一題佔 15%；第二題佔 10%)：
1). The figure shows a situation similar to that facing Calypso U.S. Pipeline, a firm
that operates a natural gas distribution system in the United States. Calypso is a
natural monopoly that cannot price discriminate.
What quantity will Calypso produce, at what price, producer surplus, consumer
surplus, and deadweight loss if Calypso is
(a) An unregulated profit-maximizing firm?
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(b) Regulated to make zero economic profit?
(c) Regulated to be efficient?
Answer:
(a) Calypso will produce 2 cubic feet a day and sell it for 6 cents a cubic foot. Draw in
the marginal revenue curve. It runs from 10 on the y-axis to 2.5 on the x-axis. The
profit-maximizing output is 2 cubic feet at which marginal revenue equals marginal
cost. The price charged is the highest that people will pay for 2 cubic feet a day,
which is 6 cents a cubic foot. The consumer surplus is 4 cents, the producer surplus is
8 cents, and the deadweight loss is 4 cents.
(b) Calypso will produce 3 cubic feet a day and charge 4 cents a cubic foot. If Calypso
is regulated to earn only normal profit, it produces the output at which price equals
average total cost—at the intersection of the demand curve and the ATC curve. The
consumer surplus is 9 cents, the producer surplus is 6 cents, and the deadweight loss
is 1 cent.
(c) The firm will produce 4 cubic feet a day and charge 2 cents a cubic foot. If the
firm is regulated to be efficient, it will produce the quantity at which price (marginal
social benefit) equals marginal social cost—at the intersection of the demand curve
and the marginal social cost curve. The consumer surplus is 16 cents, the producer
surplus is 0 cents, and the
deadweight loss is 0 cents.
2) Suppose the working-age population is 150 million, the labor force is 125 million,
and employment is 120 million.
(a) What is the unemployment rate?
(b) Now suppose that 2 million students graduate from college and begin to look for
jobs. What is the new unemployment rate if none of the students have found jobs yet?
(c) Suppose that all 2 million students find jobs. What is the unemployment rate now?
Answer:
(a) The unemployment rate is (5 million unemployed) ÷ (125 million labor force) ×
100 = 4.0 percent.
(b) The unemployment rate is (7 million unemployed) ÷ (127 million labor force) ×
100 = 5.5 percent.
(c) The unemployment rate is (5 million unemployed) ÷ (127 million labor force) ×
100 = 3.9 percent.
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