微观经济学英文版9-14章自测题及答案

微观经济学英⽂版9-14章⾃测题及答案
第九章⾃测题：
1. If the world price of a product is higher than a country’s domestic price we know that country
a. should import that product.
b. should no longer produce that product.
c. has a comparative advantage in that product.
d. could benefit by imposing a tariff on that product.
2. Which of the following is NOT a benefit of trade?
a. an increased variety of goods
b. lower costs through economies of scale
c. increased competition
d. an ability to control domestic and world prices
3. When a country allows trade and becomes an exporter of a good, domestic producers
a. gain and domestic consumers lose.
b. lose and domestic consumers gain.
c. and domestic consumers both gain.
d. and domestic consumers both los
e.
4. The world price of yo-yo’s is $4.00 each. The pre-trade price of yo-yo’s in Taiwan is $3.50 each. If Taiwan allows trade in yo-yo’s we know that Taiwan will
a. import yo-yo’s and the price in Taiwan will be $4.00 each.
b. import yo-yo’s and the price in Taiwan will be $3.50 each.
c. export yo-yo’s and the price in Taiwan will be $4.00 each.
d. export yo-yo’s and the price in Taiwan will be $3.50 each.
5. When a country moves from a free trade position and imposes a tariff on imports, this causes
a. a decrease in total surplus in the market.
b. a decrease in producer surplus in the market.
c. an increase in consumer surplus in the market.
d. a decrease in revenue to the government.
6. A tariff and an import quota will both
a. increase the quantity of imports and raise domestic price.
b. increase the quantity of imports and lower domestic price.
c. reduce the quantity of imports and raise domestic price.
d. reduce the quantity of imports and lower domestic pric
e.
7. The major difference between tariffs and import quotas is that
a. tariffs create deadweight losses, but import quotas do not.
b. tariffs help domestic consumers, and import quotas help domestic producers.
c. tariffs raise revenue for the government, but import quotas create a surplus for import license holders.
d. All of the above are correct.
8. According to the graph, consumer surplus
in this market before trade would be
a. A.
b. B + C.
c. A + B + D.
d. C.
9. According to the graph, consumer surplus
in this market after trade would be
a. A.
b. C + B.
c. A + B + D.
d. B + C + D.
10. According to the graph, the change in total surplus in this market because of trade is
a. A
b.B
c. C
d. D
参考答案：
1.c
2.d
3.a
4.c
5.a
6.c
7.c
8.a
9.c 10.d
第⼗章⾃测题：
1. An externality is the impact of
a. society’s decisions on the well-being of society.
b. a person’s actions on that person’s well-being.
c. one person’s actions on the well-being of a bystander.
d. society’s decisions on the well-being of one person in the society
2. If education produces positive externalities we would expect
a. government to tax education.
b. government to subsidize education.
c. people to realize the benefits and therefore cause demand for education to increase.
d. colleges to relax admission requirements.
3. When a negative externality exists in a market the cost to producers
a. is greater than the cost to society.
b. will be the same as the cost to society.
c. will be less than the cost to society.
d. and society will be different regardless of whether an externality is present.
4. Internalizing an externality refers to making
a. buyers and sellers take into account the external effects of their actions.
b. certain that all market transaction benefits go to only buyers and sellers.
c. certain government does not disrupt the internal workings of the market.
d. buyers pay the full price for the products they purchas
e.
5. Technology spillover is one type of
a. negative externality.
b. positive externality.
c. subsidy.
d. producer surplus.
6. According to the Coase theorem, private markets will solve externality problems and allocate resources efficiently as long as
a. private parties can bargain without cost.
b. government assigns property rights to the harmed party.
c. the externalities that are present are positive and not negative.
d. businesses determine an appropriate level of production.
7. Pigovian taxes are typically advocated to correct for the effects of
a. positive externalities.
b. negative externalities.
c. regulatory burden.
d. All of the above are correct.
8. If the government were to limit the release of air-pollution produced by a steel mill to 10,000 units, this policy would be considered a
a. regulation.
b. Pigovian tax.
c. subsidy.
d. market-based policy.
9. When one firm sells its pollution permit to another firm, which of the following does NOT occur?
a. Both firms benefit.
b. The total amount of pollution remains the same.
c. Social welfare is enhance
d.
d. Over time, pollution will be eliminated.
10. Which of the following policies is government most inclined to use when faced with a positive externality?
a. taxation
b. permits
c. subsidies
d. usage fees
参考答案：
1.c
2.b
3.c
4.a
5.b
6.a
7.b
8.a
9.d 10.c
第⼗⼀章⾃测题
1. Goods that are excludable include both
a. natural monopolies and public goods.
b. public goods and common resources.
c. common resources and private goods.
d. private goods and natural monopolies.
2. Which of the following would be considered a private good?
a. national defense
b. a public beach
c. local cable television service
d. a bottle of natural mineral water
3. The government provides public goods because
a. private markets are incapable of producing public goods.
b. free-riders make it difficult for private markets to supply the socially optimal quantity.
c. markets are always better off with some government oversight.
d. external benefits will occur to private producers.
4. The difference between technological knowledge and general knowledge is that
a. general knowledge creation is usually more profitable for the creator.
b. technological knowledge is excludable and general knowledge is not.
c. general knowledge is excludable and technological knowledge is not.
d. general knowledge is rival and technological knowledge is not.
5. A lighthouse is typically considered a good example of a public good because
a. the owner of the lighthouse is able to exclude beneficiaries from enjoying the lighthouse.
b. there is rarely another lighthouse nearby to provide competition.
c. a nearby port authority cannot avoid paying fees to the lighthouse owner.
d. all passing ships are able to enjoy the benefits of the lighthouse without paying.
6. The Tragedy of the Commons results when a good is
a. rival and not excludable.
b. excludable and not rival.
c. both rival and excludable.
d. neither rival nor excludabl
e.
7. If the use of a common resource is not regulated,
a. it cannot be used by anyone.
b. the economy will end up with too much of a good thing.
c. it becomes a private goo
d.
d. it will be overused.
8. Government may be able to solve the problem of overuse of a common resource by doing each of the following EXCEPT
a. regulating the use or consumption of the common resource.
b. taxing the use or consumption of the common resource.
c. selling the common resource to a private entity.
d. allowing individuals to voluntarily reduce their use of the resourc
e.
9. Why do elephants face the threat of extinction while cows do not?
a. Cattle are a valuable source of income for many people and elephants have no market value.
b. There is a high demand for products that come only from the cow.
c. There are still lots of cattle that roam free, while most elephants are in zoos.
d. Cattle are owned by ranchers, while elephants are owned by no on
e.
10. Excessive fishing occurs because
a. each individual fisherman has little incentive to maintain the species for the next year.
b. fishermen rely on government managers to worry about fish populations.
c. fishermen are concerned about the population dynamics of fish biomass, not current harvest rates.
d. fishermen have other marketable skills and do not fear exploitation of fish reserves.
参考答案：
1.d
2.d
3.b
4.b
5.d
6.a
7.d
8.d
9.d 10.a
第⼗⼆章⾃测题
1. Which of the following is an implicit cost?
(i) the owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm
(ii) interest paid on th e firm’s debt
(iii) rent paid by the firm to lease office space
a. (ii) and (iii)
b. (i) and (iii)
c. (i) only
d. All of the above are correct.
2. John owns a shoe-shine business. His accountant most likely includes which of the following costs on his financial statements?
a. wages John could earn washing windows
b. dividends John’s money was earning in the stock market before John sold his stock and bought a shoe-shine booth
c. the cost of shoe polish
d. All of the above are correct.
3. Economic profit
a. will never exceed accounting profit.
b. is most often equal to accounting profit.
c. is always at least as large as accounting profit.
d. is a less complete measure of profitability than accounting profit.
4. Zach took $500,000 out of the bank and used it to start his new cookie business. The bank
account pays 4 percent interest per year. During the first year of his business, Zach sold 12,000 boxes of cookies for $3 per box. Also, during the first year, the cookie business incurred costs that required outl ays of money amounting to
$14,000.Zach’s economic profit for the year was
a. $–478,000.
b. $–56,000.
c. $2,000.
d. $22,000.
5. The marginal product of labor is equal to the
a. incremental cost associated with a one unit increase in labor.
b. incremental profit associated with a one unit increase in labor.
c. increase in labor necessary to generate a one unit increase in output.
d. increase in output obtained from a one unit increase in labor.
6. Suppose Jan is starting up a small lemonade stand business. Va riable costs for Jan’s lemonade stand would include the cost of
a. building the lemonade stand.
b. hiring an artist to design a logo for her sign.
c. lemonade mix.
d. All of the above are correct.
7. Variable cost divided by quantity produced is
a. average total cost.
b. marginal cost.
c. profit.
d. None of the above are correct.
8. The average fixed cost curve
a. always declines with increased levels of output.
b. always rises with increased levels of output.
c. declines as long as it is above marginal cost.
d. declines as long as it is below marginal cost.
9. The efficient scale of the firm is the quantity of output that
a. maximizes marginal product.
b. maximizes profit.
c. minimizes average total cost.
d. minimizes average variable cost.
10. Average total cost is increasing whenever
a. total cost is increasing.
b. marginal cost is increasing.
c. marginal cost is less than average total cost.
d. marginal cost is greater than average total cost.
11. Which of the following expressions is correct?
a. marginal cost = (change in quantity of output)/(change in total cost).
b. average total cost = total cost/quantity of output.
c. total cost = variable cost + marginal cost.
d. All of the above are correct.
12. Which of the following must always be true as the quantity of output increases?
a. Marginal cost must rise.
b. Average total cost must rise.
c. Average variable cost must rise.
d. Average fixed cost must fall.
13. In the long run,
a. inputs that were fixed in the short run remain fixed.
b. inputs that were fixed in the short run become variable.
c. inputs that were variable in the short run become fixe
d.
d. variable inputs are rarely used.
14. The length of the short run
a. is different for different types of firms.
b. can never exceed 3 years.
c. can never exceed 1 year.
d. is always less than 6 months.
15. Economies of scale occur when
a. long-run average total costs rise as output increases.
b. long-run average total costs fall as output increases.
c. average fixed costs are falling.
d. average fixed costs are constant.
16. Long-run average total cost curves are often U-shaped
a. for the same reasons that average total cost curves are often U-shaped.
b. because of constant returns to scale.
c. because of increasing coordination problems at low levels of production and increasing specialization of workers at high levels of production.
d. because of increasing specialization of workers at low levels of production and increasing coordination problems at high levels of production.
参考答案：
1.c
2.c
3.a
4.c
5.d
6.c
7.d
8.a
9.c 10.d 11.b 12.d 13.b 14.a 15.b 16.d
第⼗三章⾃测题：
1. For a firm in a perfectly competitive market, the price of the good is always
a. equal to marginal revenue.
b. equal to total revenue.
c. greater than average revenue.
d. All of the above are correct.
2. Which of the following is NOT a characteristic of a perfectly competitive market?
a. Firms are price takers.
b. Firms have difficulty entering the market.
c. There are many sellers in the market.
d. Goods offered for sale are largely the sam
e.
3. When a competitive firm triples the amount of output it sells,
a. its total revenue triples.
b. its average revenue triples.
c. its marginal revenue triples.
d. All of the above are correct.
4. When a profit-maximizing firm in a 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 zero.
5. For a competitive firm,
a. Total revenue = Average revenue.
b. Total revenue = Marginal revenue.
c. Total cost = Marginal revenue.
d. Average revenue = Marginal revenu
e.
6. If marginal cost exceeds marginal revenue, the firm
a. is most likely to be at a profit-maximizing level of output.
b. should increase the level of production to maximize its profit.
c. must be experiencing losses.
d. may still be earning a profit.
7. When price is greater than marginal cost for a firm in a competitive market,
a. marginal cost must be falling.
b. the firm must be minimizing its losses.
c. there are opportunities to increase profit by increasing production.
d. the firm should decrease output to maximize profit.
8. When fixed costs are ignored because they are irrelevant to a business’s production decision, they are called
a. explicit costs.
b. implicit costs.
c. sunk costs.
d. opportunity costs.
9. When a firm makes a short-run decision not to produce anything during a specified period of time because of current market conditions, the firm is said to
a. shut down.
b. exit.
c. withdraw.
d. leave the industry.
10. Profit-maximizing firms enter a competitive market when, for existing firms in that market,
a. total revenue exceeds fixed costs.
b. total revenue exceeds total variable costs.
c. average total cost exceeds average revenue.
d. price exceeds average total cost.
11. A firm’s short-run supply curve is part of which of the following curves?
a. marginal revenue
b. average variable cost
c. average total cost
d. marginal cost
12. Suppose you bought a ticket to a football game for $30, and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket?
a. $30
b. $35
c. $60
d. $65
13. When new firms have an incentive to enter a competitive market, their entry will
a. increase the price of the product.
b. drive down profits of existing firms in the market.
c. shift the market supply curve to the left.
d. All of the above are correct.
14. In a perfectly competitive market, the process of entry and exit will end when, for firms in the market,
a. price is equal to average variable cost.
b. marginal revenue is equal to average variable cost.
c. economic profits are zero.
d. All of the above are correct.
15. In a competitive market that is characterized by free entry and exit,
a. all firms will operate at efficient scale in the short run.
b. all firms will operate at efficient scale in the long run.
c. the price of the product will differ across firms.
d. the number of sellers in the market will steadily decrease over tim
e.
16. The assumption of a fixed number of firms is appropriate for analysis of
a. the short run, but not the long run.
b. the long run, but not the short run.
c. both the short run and the long run.
d. neither the short run nor the long run.
参考答案：
1.a
2.b
3.a
4.b
5.d
6.d
7.c
8.c
9.a 10.d 11.d 12.b 13.b 14.c 15.b 16.a
第⼗四章⾃测题：
1. Which of the following statements is correct?
a. A competitive firm is a price maker and a monopoly is a price taker.
b. A competitive firm is a price taker and a monopoly is a price maker.
c. Both competitive firms and monopolies are price takers.
d. Both competitive firms and monopolies are price makers.
2. Which of the following is an example of a barrier to entry?
(i) A key resource is owned by a single firm.
(ii) The costs of production make a single producer more efficient than a large number of producers. (iii) The government has given the existing monopoly the exclusive right to produce the good.
a. (i) and (ii)
b. (ii) and (iii)
c. (i) only
d. All of the above are correct.
3. The defining characteristic of a natural monopoly is
a. constant marginal cost over the relevant range of output.
b. economies of scale over the relevant range of output.
c. constant returns to scale over the relevant range of output.
d. diseconomies of scale over the relevant range of output.
4. Patent and copyright laws are major sources of
a. natural monopolies.
b. government-created monopolies.
c. resource monopolies.
d. None of the above are correct.
5. The De Beers diamond monopoly is a classic example of a monopoly that
a. is government-created.
b. arises from the ownership of a key resource.
c. results in very little advertising of the product that the monopolist produces.
d. was broken up by the government a long time ago.
6. In order to sell more of its product, a monopolist must
a. sell to the government.
b. sell in international markets.
c. lower its price.
d. use its market power to force up the price of complementary products.
7. For a profit-maximizing monopolist,
a. P＞MR = MC.
b. P = MR = MC.
c. P ＞MR ＞MC.
d. MR ＜MC ＜P.
8. For a monopoly, the supply curve is a portion of its
a. marginal revenue curve.
b. marginal cost curve.
c. average total cost curve.
d. none of the above; a monopoly does not have a supply curv
e.
9. What is the monopolist’s profit under the following conditions? The profit-maximizing price charged for goods produced is $16. The intersection of the marginal revenue and marginal cost curves occurs where output is 10 units and marginal cost is $8. Average total cost for 10 units of output is $6.
a. $20
b. $80
c. $100
d. $160
10. Antitrust laws allow the government to
a. prevent mergers.
b. break up companies.
c. promote competition.
d. All of the above are correct.
参考答案：
1.b
2.d
3.b
4.b
5.b
6.c
7.a
8.d
9.c 10.d。