经济学原理(西方经经济学)期末考试题库

1、MankiwEssentials of EconomicsTest BankPoints1.Multiple Choice1) Economics deals primarily with the concept of( )a) scarcity.b) poverty.c) change.d) power.2) Which of the following is NOT included in the decisions that every society must make?( )a) what goods will be producedb) who will produce goods

2、c) what determines consumer preferences消费者的偏好d) who will consume the goods3) A rational decision maker takes an action only if the( )a) marginal benefit is less than the marginal cost.b) marginal benefit is greater than the marginal cost.c) average benefit is greater than the average cost.d) margina

3、l benefit is greater than both the average cost and the marginal cost.4) Macroeconomics is the study of（）a) individual decision makers.b) economic history.c) economy-wide phenomena.d) how firms maximize profit5) A microeconomist might study each of the following EXCEPT( )a) the effects of rent contr

4、ol on housing in New York City.b) how a college student makes financial decisions.c) how tariffs on shoes affects the shoe industry.d) the effect on the economy when unemployment rates change.6) The term market failure refers to( )a) a situation in which the market on its own fails to allocate resou

5、rces efficiently.b) an unsuccessful advertising campaign which reduces buyer demand.c) a situation in which competition among firms becomes ruthless.d) a firm which is forced out of business because of losses.7) Which of the following is an example of a normative 规范（主观）statement?( )a) If the price o

6、f a product decreases, quantity demanded increases. b) Reducing tax rates on the wealthy would be good for the country. c) If the national saving rate were to increase, so would the rate of economic growth.d) All of the above are correct.8) For each good produced in a market economy, demand and supp

7、ly determine( )a) the price of the good, but not the quantity.b) the quantity of the good, but not the price.c) both price and quantity.d) neither price nor quantity is determined by demand and supply, because prices are ultimately set by producers.9) A higher price for batteries电池 would tend to（ ）a

8、) increase the demand for flashlights.b) increase the demand for electricity.c) decrease the demand for electricity.d) increase the demand for batteries10) Two goods are complements if a decrease in the price of one good( )a) increases the quantity demanded of the other good.b) reduces the demand fo

9、r the other good.c) reduces the quantity demanded of the other good.d) raises the demand for the other good.11) If a shortage exists in a market we know that the actual price is( )a) below equilibrium price and quantity demanded is greater than quantity supplied.b) above equilibrium price and quanti

10、ty demanded is greater than quantity supplied.c) above equilibrium price and quantity supplied is greater than quantity demanded.d) below equilibrium price and quantity supplied is greater than quantity demanded.12) When the government prevents prices from adjusting naturally to supply and demand( )

11、a) it stabilizes the economy by reducing market uncertainties.b) it adversely affects the allocation of resources.影响了资源的分配c) the improvement in equity justifies the reduction in efficiency.d) the improvement in efficiency justifies the reduction in equity.13) Knowing that the demand for wheat is ine

12、lastic, if all farm voluntarily plowed under 10 percent of their wheat crop, then ( )a) consumers of wheat would buy more wheat.b) wheat farmers would suffer a reduction in their revenue.c) wheat farmers would increase their revenue.d) the demand for wheat would decrease.14) Suppose that a steel fac

13、tory emits a certain amount of air pollution, which constitutes a negative externality. The social cost of producing the steel includes the( )a) private costs of the steel producers and the price consumers pay for the steel.b) private costs of the steel producers and the costs to the bystanders affe

14、cted by the pollution.c) costs to the bystanders effected by the pollution only.d) price consumers pay for the steel.15) The Tragedy of commons can be corrected by( )a) providing more of the resource for public use.b) assigning property rights to individuals.公地悲剧可以通过产权私人化来解决c) providing government s

15、ubsidies for the resource.d) making certain everyone in the economy has access to the resource16) Which of the following is NOT true?( )a) In the presence of a market failure, government action might not improve on the market outcome because sometimes public policies simply reward the politically po

16、werful.b) In the presence of a market failure, government action might not improve on the market outcome because some leaders are not fully informed about the effects of their actions.c) In the presence of a market failure, government action can sometimes improve on the market outcome.d) In the pres

17、ence of a market failure, government action will always improve on the market outcome.17) If an economy is producing efficiently( )a) there is no way to produce more of one good without producing less of the other.b) it is possible to produce more of both goods.c) it is possible to produce more of o

18、ne good without producing less of the other.d) it is not possible to produce more of one good at any cost.18) The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the( )a) amount of the other good that must be given up.其他商品的数量需要放弃b) market price of

19、the additional amount produced.c) amount of resources that must be devoted to its production. d) dnumber of dollars that must be spent to produce it.When a firm is operating at an efficient scale( ) 19)a) average variable cost is minimized.b) average fixed cost is minimized.c) average total cost is

20、minimized.d) None of the above are correct.Figure 120) According figure 1, on the production possibilities frontier shown, the opportunity cost to the economy of getting 30 additional toothbrushes by moving from point A to point D is( )a) 10 toasters.b) 15 toasters.c) 20 toasters.d) 25 toasters.21)

21、When a profits-maximizing firm in a perfectly competitive market has zero economic profit, accounting profit( )a) is negative (accounting losses).b) is positive.c) is also zero.d) could be positive, negative or zero22) In the figure2 shown, the movement from point A to point B is a( )a) shift of the

22、 curve.b) change in preferences.c) movement along the curve.因为是价格的变动，所以沿着曲线d) All of the above are correct.Figure 223) In the figure 3 shown, the movement from point B to point C is a( )a) shift of the curve.b) change in price. movement along the curve.c) change in costs to the firm.Figure 324) Two

23、goods are substitutes if a decrease in the price of one good( )a) increases the demand for the other good.b) reduces the demand for the other good.c) reduces the quantity demanded of the other good.d) increases the quantity demanded of the other good.25) Two goods are complements if a decrease in th

24、e price of one good( )a) increases the quantity demanded of the other good.b) reduces the demand for the other good.c) reduces the quantity demanded of the other good.d) raises the demand for the other good.26) If a decrease in income increases the demand for a good, then the good is( )a) a substitu

25、te good.b) a complement good.c) a normal good.d) an inferior good.27) On the firgue3, the movement from D to D1 is called a) an increase in demand.b) a decrease in demand.c) a decrease in quantity demanded.d) an increase in quantity demanded.28) Which of the following will definitely cause equilibri

26、um quantity to fall?( )a) demand increases and supply decreasesb) demand and supply both decreasec) demand decreases and supply increasesd) demand and supply both increase29) If the demand for a product increases, we would expect equilibrium price( )a) to increase and equilibrium quantity to decreas

27、e.b) to decrease and equilibrium quantity to increase.c) and equilibrium quantity to both increase.d) and equilibrium quantity to both decrease.30) New cars are normal goods. What will happen to the equilibrium price of new cars if the price of gasoline rises, the price of steel falls, public transp

28、ortation becomes cheaper and more comfortable, auto-workers accept lower wages and automobile insurance becomes more expensive?( )a) Price will rise.b) Price will fall.c) Price will stay exactly the same.d) The price change will be ambiguous.31) What will happen to the equilibrium price of new textb

29、ooks if more students attend college, paper becomes cheaper, textbook authors accept lower royalties and fewer used textbooks are sold?( )a) Price will rise.b) Price will fall.c) Price will stay exactly the same.d) The price change will be ambiguous.32) If the price elasticity of demand for a good i

30、s 4.0, then a 10 percent increase in price would result in a( )a) 4.0 percent decrease in the quantity demanded.b) 10 percent decrease in the quantity demanded.c) 40 percent decrease in the quantity demanded.d) 400 percent decrease in the quantity demanded.33) According to the firgue4, when price fa

31、lls from point $40 to $30 we know that demand must be( )a) elastic, since total revenue increases from $8000 to $9000.b) inelastic, since total revenue increases from $8000 to $9000.c) inelastic, since total revenue decreases from $9000 to $8000.d) unit elastic, since total revenue decreases from $9

32、000 to $8000. Figure 434) The cross-price elasticity of demand can tell us whether goods are( )a) normal or inferior.b) elastic or inelastic.c) luxuries or necessities.d) complements or substitutes.35) If wheat farmers know that the demand for wheat is inelastic, and they want to increase their tota

33、l revenue, they should all( )a) plant more wheat so that they would be able to sell more each year.b) increase spending on fertilizer in an attempt to produce more on the acres they farm.c) reduce the number of acres they plant in wheat.d) use better machinery.36) OPEC successfully raised the world

34、price of oil in the 1970s and early 1980s primarily due to( )a) an inelastic demand for oil and a reduction in the amount of oil supplied.b) a reduction in the amount of oil supplied and a world-wide oil embargo.c) a world-wide oil embargo and an elastic demand for oil.d) a reduction in the amount o

35、f oil supplied and an elastic demand for oil.37) A price ceiling( )a) is a legal maximum on the price at which a good can be sold.b) is a legal minimum on the price at which a good can be sold.c) occurs when the price in the market is temporarily above equilibrium.d) will usually result in a market

36、surplus.38) A price floor( )a) is a legal 合法的minimum on the price at which a good can be sold.b) is a legal maximum on the price at which a good can be sold.c) will generally result in a market shortage.d) will benefit the consumer, but hurt the supplier.39) A binding price ceiling causes( )a) a sho

37、rtage, which cannot be eliminated消除 through market adjustment.b) a surplus, which cannot be eliminated through market adjustment.c) a shortage, which is temporary, since market adjustment will cause price to rise.d) a surplus, which is temporary, since market adjustment will cause price to rise.40)

38、In the figure5 shown, a binding price ceiling is shown in( )a) panel (a).b) panel (b).c) both panel (a) and panel (b).d) neither panel (a) nor panel (b).Figure541) According to the figure6 shown, the equilibrium price in the market before the tax is imposed is( )a) $1.00.b) $3.50.c) $5.00.d) $6.00.

39、Figure 642) If a tax is imposed on a market with inelastic demand and elastic supply( )a) buyers will bear most of the burden of the tax.b) sellers will bear most of the burden of the tax.c) the burden of the tax will be shared equally between buyers and sellers.d) it is impossible to determine how

40、the burden of the tax will be shared.43) If a tax is imposed on a market with elastic demand and inelastic supply( )a) buyers will bear most of the burden of the tax.b) sellers will bear most of the burden of the tax.c) the burden of the tax will be shared equally between buyers and sellers.d) it is

41、 impossible to determine how the burden of the tax will be shared.44) Suppose that a tax is placed on books. If the buyer pays the majority of the tax we know that the( )a) supply curve is more inelastic than the demand curve.b) demand curve is more inelastic than the supply curve.c) government has

42、placed the tax on the seller.d) government has placed the tax on the buyer.45) Cameron visits a sporting goods store to buy a new set of golf clubs. He is willing to pay $750 for the clubs, but buys them on sale for $575. Camerons consumer surplus from the purchase is( )a) $175.b) $575.c) $750.d) $1

43、,325.46) According to the figure7 shown, what area represents total surplus in the market when the price is P1?( )a) A + Bb) B + Cc) C + Dd) A + B + C + D figure 747) A profits-maximizing firm will shut down in the short run when( )a) priceaverage variable cost. b) priceaverage total costc) average

44、revenuemarginal cost.d) average revenue average fixed costfigure848) According to the figure8, the loss in total welfare resulting from the levying of the tax is represented by area ( )a) A + B + C.b) D + E + F.c) A + B + D + F.d) C + E. 49) Taxes cause deadweight losses because( )a) they transfer p

45、urchasing power to the government which always wastes money.b) they prevent buyers and sellers from realizing some of the gains from trade.c) marginal buyers and sellers leave the market causing the quantity sold to fall.d) Both b and c are correct.50) The Laffer curve indicates each of the followin

46、g EXCEPT income tax collections will be( )拉佛曲线是一条抛物线a) very low if income tax rates are very low.b) very low if income tax rates are very high.c) at a maximum if income tax rates are at some intermediate level between very low and very high.d) very high if income tax rates are very high.51) The impa

47、ct of one persons actions on the well-being of a bystander is called(D)a) an economic dilemma.b) deadweight loss.c) the third-party problem.d) an externality.52) Which of the following statements is most correct about a market which is characterized by a negative production externality?( )P166a) The

48、 equilibrium quantity of output is equal to the socially optimal quantity.b) The equilibrium quantity of output is greater than the socially optimal quantity.负外部性的明显特征，市场生产的数量大于社会合意的数量，而正外部性是小于，所以才会有矫正税和补贴。c) Government intervention is not required to achieve a socially optimal quantity of output.d)

49、 The cost to the producer exceeds the cost to society.53) Which of the following is true concerning government attempts to internalize externalities?( )a) Government should tax goods with negative externalities and subsidize goods with positive externalities.b) Government should tax goods with eithe

50、r positive or negative externalities.c) Government should subsidize goods with either positive or negative externalities.d) Government should tax goods with positive externalities and subsidize goods with negative externalities.54) The Coase theorem suggests that private markets may not be able to s

51、olve the problem of externalities( )a) when the number of interested parties is large and bargaining costs are high.b) if government does not actively become involved in the process.c) if the firm in the market is a monopoly.d) if some people benefit from the externality.55) In some cases, pollution

52、 permits may be better than a Pigovian tax because(D)a) pollution permits allow for a market solution while a Pigovian tax does not.b) pollution permits generate more revenue for the government than a Pigovian tax.c) Pollution permits are never preferred over a Pigovian tax.d) the government can set

53、 a maximum level of pollution using permits.56) If one persons use of a good diminishes another persons enjoyment of it, the good is( )a) rival.b) excludable.c) normal.d) exhaustible.57) A good is excludable if( )a) one persons use of the good diminishes another persons enjoyment of it.b) the govern

54、ment can regulate its availability.c) it is not a normal good.d) people can be prevented from using it.58) According to experience, the most effective solution to highway congestion is to( )a) build more roads.b) set a price for access to roads, which is paid by those who use them.c) discourage urba

55、n sprawl by subsidizing urban apartment rents.d) All of the above are correct.59) The marginal cost curve crosses the average total cost curve at( )a) the efficient scale.b) the minimum point on the average total cost curve.c) a point where the marginal cost curve is rising.d) All of the above are c

56、orrect.60) Which of the following statements about costs is correct?( )a) When marginal cost is less than average total cost, average total cost is rising.b) The total cost curve is U-shaped.c) As the quantity of output increases, marginal cost eventually rises.d) All of the above are correct.！期中分界6

57、1) According to figure 9, This firm experiences diseconomies of scale at what output levels?( )a) output levels above Nb) output levels between M and Nc) output levels below Md) All of the above are correct, if the firm is operating in the long run.firgue962) When price is below average variable cost, a firm in a competitive market will(A)a) shut down and incur fixed costs.b) shut