微观经济学 期末试题 题库

Microeconomics, 10e (Parkin)Part 5 ReviewMarket Failure and Government1) A non-crowded freeway isA) rival and nonexcludableB) nonrival and excludableC) nonrival and nonexcludableD) rival and excludableAnswer: CTopic: Public GoodsSkill: AnalyticalQuestion history: New 10th editionAACSB: Analytical Skills2) A crowded freeway during the rush hour isA) rival and nonexcludableB) nonrival and excludableC) nonrival and nonexcludableD) rival and excludableAnswer: ATopic: Common ResourceSkill: AnalyticalQuestion history: New 10th editionAACSB: Analytical Skills3) Street lights are a public good. If street lights were provided by the private market, at the equilibrium quantity, it would be the case thatA) MSB = MSCB) MSC > MCC) MSB > MSCD) MSB > MBAnswer: CTopic: Public GoodsSkill: AnalyticalQuestion history: New 10th editionAACSB: Analytical Skills4) The marginal private cost of a chemical is $80 per ton and its marginal external cost is $10 per ton. What is the marginal social cost of the chemical?A) $70 per tonB) $85 per tonC) $90 per tonD) $45 per tonAnswer: CTopic: Marginal Social CostSkill: AnalyticalQuestion history: Previous edition, Part Review 5AACSB: Analytical Skills5) The marginal social cost of a chemical is $45 per ton and its marginal private cost is $30 per ton. What is the marginal external cost of the chemical?A) $75 per tonB) $30 per tonC) $15 per tonD) zeroAnswer: CTopic: Marginal External CostSkill: AnalyticalQuestion history: Previous edition, Part Review 5AACSB: Analytical Skills6) At the current level of output, the marginal social cost of paper is $30 per ton and its marginal private cost is $20 per ton. The marginal social benefit from paper is $20 per ton. The market for paper is competitive and unregulated. This means that at the current level of productionA) the market for paper is in equilibrium.B) the efficient quantity of paper is produced.C) there is a shortage of paper.D) the quantity of paper produced is less than the efficient level of output. Answer: ATopic: An Unregulated MarketSkill: ConceptualQuestion history: Previous edition, Part Review 5AACSB: Analytical Skills7) At the current level of output, the marginal social cost of paper is $30 per ton and its marginal private cost is $20 per ton. The marginal social benefit from paper is $30 per ton. This means that the current level of production isA) greater than the efficient level.B) efficient.C) less than the efficient level.D) the equilibrium quantity attained in an unregulated perfectly competitive market.Answer: BTopic: EfficiencySkill: ConceptualQuestion history: Previous edition, Part Review 5AACSB: Reflective Thinking8) To increase efficiency,A) taxes can be used to overcome the problems created by both external benefits and external costs.B) subsidies can be used to overcome problems created by both external benefits and external costs.C) taxes can be used to overcome the problems created by external benefits, and subsidies can be used to overcome the problems created by external costs.D) subsidies can be used to overcome the problems created by external benefits, and taxes can be used to overcome the problems created by external costs.Answer: DTopic: Subsidies and TaxationSkill: AnalyticalQuestion history: Previous edition, Chapter 16AACSB: Reflective Thinking9) An unregulated market produces too ________ of a good with an external cost and too ________ of a good with an external benefit.A) much; muchB) little; muchC) much; littleD) little; littleAnswer: CTopic: ExternalitiesSkill: AnalyticalQuestion history: Previous edition, Chapter 16 AACSB: Reflective Thinking10) Compare the inefficient market equilibriums for the case of an external benefit and the case of an external cost. Which of the following is true?A) both result in a deadweight lossB) both result in too much productionC) both result in too little productionD) the market with the negative externality is the only one with a deadweight lossAnswer: ATopic: An Unregulated MarketSkill: ConceptualQuestion history: Previous edition, Part Review 5AACSB: Reflective Thinking11) A crowded freeway during the rush hour is a ________ and so it is________.A) common resource; overutilizedB) private good; efficiently utilizedC) public good; overutilizedD) natural monopoly; underutilizedAnswer: ATopic: Common ResourceSkill: AnalyticalQuestion history: New 10th editionAACSB: Analytical Skills。