最新微观经济学选择题100道答案

1. The scie ntific method is not applicable to the study of economics becauseeconomics is not a true scie nee.A) TrueB) False2. Hypotheses derived from econo mic an alysis can be validated throughempirical an alysis, but hardly ever with absolute certai nty.A) TrueB) False3. Which of the follow ing stateme nts relates to the con cept of efficie ncy?A) The abse nee of waste.B) Using resources as effectively as possible.C) Being able to produce more of one good only by producing someth ing else.D) All the above.E) b. and c. only.4. Figure 1 displays the product ion-possibilities of two coun tries.that both countries produce five units of x, which of the following best describes countryB's producti on of y?A) Less tha n country A's product ion of y.B) The same as country A's producti on of y.C) More tha n country A's producti on of y.D) Cannot be determ ined from the graph.E) None of the above.5. Mass unemployment of resources means society operatesproduct ion-possibility fron tier .A) TrueB) Falseless ofGive nin side its Figure 16. If two goods use the same resources and the same tech no logy, product ion possibilities curve betwee n the two goods will have a positive slope.A) TrueB) False7. It is scarcity that makes goods econo mic goods.A) TrueB) False8. Which of the follow ing is the most basic of the subjects with which the study of economics must try to deal?A) Markets.B) Mo ney.C) Profit seeki ng.D) The price mecha ni sm.E) Scarcity.9. Poor money man ageme nt by the gover nment, aside from in creas ing the un employment rate, will have a relatively small effect on the economy.A) TrueB) False11. Barter is inconvenient because:A) barga ining power is un equal betwee n rich and poorB) without mon ey, who can defi ne "fair" values?C) my wants and supplies do not match your supplies and wan ts.D) it leads to imperfect competiti on.theFigure 210. In Figure 2, what is Country B's cost of produci ng 1 un it of x in termsof y?A) 10 units of y.B) 1/2 units of y.C) 5 units of y.D) 2 units of y.E) None of the above.E) all of the above.12. The econo mic role of gover nment in mixed econo mies can in clude:A) provisi on of public goods.B) tax collect ions.C) in come redistributi on.D) all of the above.E) none of the above.13. By the "in visible han d," Smith meant the in flue nee and lobby ing of the hidde n in terest groups.A) TrueB) False14. A society which forgoes prese nt con sumpti on:A) is forced to do so because of excessive con sumpti on with in the country in the past.B) may be devot ing new resources to new capital formatio n.C) is merely devot ing resources to the replaceme nt of capital.D) expects to con sume only that amount tomorrow which was forego ne today.E) does none of the above.15. An econo mic good is valued in part by its scarcity.A) TrueB) False16. The stateme nt that roun dabout methods of producti on are often more efficie nt tha n more direct methods:A) means that roun dabout methods use the same in puts as more direct methods, except for time, which is not a scarce economic good.B) means that con sumers ought to choose those goods which most lend themselves to roun dabout methods of product ion.C) means that the most roun dabout method is always the most efficie nt method of produci ng any output.D) is false, for direct and in direct methods of product ion are usually the same in terms of efficie ncy.E) suggests that forego ne con sumpti on devoted to in vestme nt sometimes in creases future output in ways that more closely match in dividual an d/or social desires.17. Which of the following statements is true of specialization?A) Specializati on is incon siste nt with the idea of in dividual freedom.B) Econo mies that practice a divisi on of labor are morally superior to those that do not.A) True B) False22. An in crease in price will lead to a lower qua ntity dema nded because:A) suppliers will supply only the smaller amount. B) quality deteriorates.C) people will purchase less of the good. D) all of the above.E) none of the above.Use the following to answer question 23:C) In accepting specialization, a person sacrifices his or her own interests for the sake of society's in terest.D) While specializati on has eno rmous adva ntages, the coststhem.E) In creased productivity is more likely to be achievedspecializati on.18. In an afflue nt moder n society, bus in esses may have to offer workers more fulfilli ng jobs.A) True B) False19. Con sumers vote their dollars primarily in: A) labor markets. B)land markets. C) capital markets. D) goods markets . E)none of the above.20. An example of legal limitations on property rights is the prohibition of polluti on.A) True B)False21. Lower prices coax out higher qua ntities dema ndeddow nward-slop ing dema nd outweigh through25. Upward-slop ing supply curves are the result of: A) in creas ing retur ns to scale. B) in creas ing costs of product ion. C) cha nges in gover nment policies. D) cha nges in tech no logy. E) none of the above23.Let P* and Q* represe nt market cleari ng price and qua ntity, respectively. Given the supply and dema nd curves draw n in Figure 3, a reduct ion in the price of an in put used in the product ion of Q can be expected to cause:A) P* and Q* to climb.B)P* to climb while Q* falls.C) P* to climb while Q* holds steady D) P* to fall while Q* climbs. E) P* and Q* to fall.Use the following to answer question 24:Table 1The Market for Potato Chips(qua ntities measured in bags per week)Price Quan titySupplied $1.00 500 20002.00 1000 17503.0015001500 4.00 2000 1250 5.00 25001000Quan tity Dema nded 24. Accordi ng to T A) $1.00. B)$2.00. C) $2.50. D) $3.00.able 1, the equilibrium price for potato chips is:Quantity of QFigure 3E) $4.00.26. To say that a price "clears the market" is to say that every one who wants that commodity is getting all they want.A) TrueB) False27. The positi on of the supply schedule for America n-made cars will not be directly affected by which of the follow ing?A) Union wage rates.B) Car prices.C) The possibility of strikes.D) A cha nge in assembly tech no logy.E) All of the above will affect supply.28. The dema nd curve for a no rmal good will shift to the right if:A) in come in creases.B) populati on in creases.C) the price of a substitute good in creases.D) all the above.E) none of the above.29. Give n a fixed supply of lamb chops, a reduct ion in the price of pork chops (close substitutes) will tend to: (这类题比容易出)A) shift the dema nd curve for lamb chops to the right.B) shift the dema nd curve for pork chops to the right.C) shift the dema nd curve for pork chops to the left.D) raise the price of lamb chops.E) lower the price of lamb chops.30. One reas on that supply curves display positive slope is that:A) expa nded product ion may require the use of superior resources.B) people are not willi ng to pay a higher price for more goods.C) expa nded in dustry output might cause a labor shortage andsubseque ntly in crease the wage rate in cluded in the cost of product ion.D) extra producti on brings in the more efficie nt, lower-cost producers.E) the law of diminishing retur ns is importa nt to producers.31. If a 1 percent change in price causes a 5 percent change in quantity dema nded, the n dema nd is price in elastic.A) TrueB) False32. Whe never total expe nditure (i.e., total revenue) remai ns the same aftera cha nge in price, the elasticity of dema nd is:A)greater tha n 1.B) less tha n 1. C) equal to 0. D) equal to 1. E) equal to infinity33. If price and quantity sold both decrease from one period to another may infer that the law of dow nward-slop ing dema nd does not operate in that market.A) True B) False(重要) 34. In "tight" hous ing markets, rent con trols are ofte n applied tohold the price of hous ing to a "reas on able" level. What is the immediate effectof this price policy with respect to the allocative fun cti ons of prices, and the relative in comesof tenants and Ian dlords?A) The allocative function of prices is impaired, but the tenants preve nted from gaining at the expe nse of the Ian dlords.B) The allocative function of prices is not impaired, and the tenants are preve nted from gaining at the expe nse of Ian dlords.C) The allocative function of prices is impaired, and the tenants who find hous ing gain at the expe nse of Ian dlords.D) The allocative function of prices is not impaired, but the Iandlords gain at the expe nse of tenants who do not find hous ing.E) None of the above.35. Which of the following inefficiencies might be the result of monopoly power's destro ying a competitive equilibrium?A) Prices too high. B) Output too low.C) Wages distorted across the economy. D) In put prices distorted across the economy. E) All of the above.36. Dollar receipts for sellers of some commodities will be lower at higher prices. A) True B) False37. The qua ntity of a good which a pers on will purchase will not depe nd on which one of the following items? xA) The price of the good. B) His or her tastes.C) The prices of substitute goods. D) His or her in come. E) The elasticity of supply.,weareUse the following to answer question 38:Price20 40 60 SQ 100 120 QuErntliyFigure 438. Refer to Figure 4 once aga in. Suppose that now the dema nd curve has shifted to D'D'. At what poi nt alo ng D'D' is price elasticity equal to 1?A) GB) between G and H.C) H.D) between H and I.E) I.39. Rank the supply curves in the figure below in order of greatest to least price elasticity at the com mon in tersect ion point.A) C, A, B.B) B, A, C.C) B, C, A.D) A, B, C.E) None of the above.40. A price subsidy of 20 cents per gall on on milk (which does not have a totally in elastic dema nd curve) will result in a:A) cha nge in con sumer tastes.B) drop in the equilibrium price of 20 cents per gall on.C) drop in the equilibrium price of less tha n 20 cents per gall on.D) drop in the equilibrium price of more tha n 20 cents per gall on.41. The law of diminishing marginal utility states that the:A) ratio of MU to P for luxuries is lower than that for necessities.B) utility derived from the last unit of the good consumed falls as the con sumpti on of the good in creases.C) ratio of MU to P will be the same for all goods.D) utility derived from total con sumpti on of a good falls as con sumpti onin creases.E) none of the above.42. A consumer is said to be in equilibrium in his or her choice between twogoods A and B whe n:A) the purchase of good A gives the same satisfacti on as the purchase of good B.B) the last purchase of good A gives the same additi on to satisfact ion asthe last purchase of good B.C) each penny spe nt on good A gives the same satisfact ion as each pennyspe nt on good B.D) the last penny spent on good A gives the same addition to satisfactionas the last penny spe nt on good B.E) the last pennies spe nt on goods A and B gen erate no additi ons to satisfact ion.43. A con sumer spe nds all of her in come on two goods, coffee anddough nu ts. She purchases coffee at 25 cents a unit with a total utility of 800and a marginal utility of 12. Dough nuts are purchase at 75 cents a unit with atotal utility of 200 and a marginal utility of 24. In order to reach con sumer equilibrium, she should con sume:A) less dough nuts and more coffee.B) more dough nuts but the same amount of coffee.C) more coffee but the same amount of dough nu ts.D) more dough nuts and less coffee.E) the same amount of coffee and dough nu ts.44. If a pers on only con sumes pickles and pea nut butter , he will con sume pea nut butter up to the point where the:A) marginal utility of the last un it of pea nut butter con sumed equals that of the last unit of pickles con sumed.B) total utility of pea nut butter con sumed equals the total utility of picklescon sumed.C) con sumer surplus of pea nut butter con sumpti on equals the con sumer surplus of pickle con sumpti on.D) last dollar spe nt on pea nut butter con sumpti onprovides the same marginal utility as the last dollar spe nt on pickle con sumpti on.E) none of the above.45. Water tends to have a low marginal utility because substitutes for it are widely available.A) TrueB) False46. A good which sells for a higher price tha n one which is more importa nt for welfare reflects the con cept of:A) compleme ntarity in dema nd.B) substituti on.C) marginal or total utility.D) the paradox of value.E) law of diminishing marginal utility.47. The price of good X is $1.50 and that of good Y, $1. A particularconsumer who evaluates the marginal utility of Y to be 30 units, and is in equilibrium with respect to purchases of X and Y , must con sider the marginalutility of X to be:A) 15 un its.B) 20 un its.C) 30 un its.D) 45 un its.E) none of the above.48. It is possible to sum in dividual dema nd curves to get the marketdema nd curve on ly whe n all con sumers are exactly alike in their dema nds.A) TrueB) False49. The paradox of value is not the result of decli ning marginal utility.A) TrueB) False50. In the figure below, which area represents consumer surplus at a price of 5?A) OADC.B) OBEC. C) CEH. D) OBEH. E) CEGF.51. Both in nu mber and in dollar value of sales, the in dividual proprietorship is the dominantform of America n en terprise.A) True B) False52. Suppose that two in puts, K and L, are variable and in crease at the samerate . Which one of the pan els in Figure 5 represe nts In creas ing Retur n to Scale (IRS)?A) Panel a. B) Pa nel b. C) Pa nel c. D) Pa nel d.E)None of the above.53. " Un limited liability" in partn erships refers to the liability of each part ner for her perce ntage share of any losses in curred, without limit, except for some legal minimum of property she isLabor(L)Use the following to answer question 52:Figure 5permitted to keep.A) TrueB) False54. The employme nt of which of the follow ing in puts might be adjusted in the short run?A) Physical capital.B) Number of hours worked by laborC) Un its of en ergy required per un it output.D) Un its of material required per un it output.E) None of the above.55. Numerically, the bulk of bus in esses in the U.S. are:A) corporati ons.B) part nerships.C) sole proprietorships.D) farms.E) mom-a nd-pop retail shops.56. If in comes were properly distributed, competitive gen eral equilibrium would move resources to the best use for con sumers' satisfact ion.A) TrueB) FalseUse the follow ing to an swer questi ons 57:Total Product withVarious In put Comb in atio nsLabor Land 10 15 200 0 0 01 20 20.67 20.52 38 39.33 40.03 54 57.00 58.54 68 72.67 76.05 80 87.33 92.56 90 102.00 108.057. Suppose that producti on were defi ned by the fun cti on recorded in thetable above. For diminishing returns to continue to hold for the 7th unit of labor with land equal to 15 un its, total product for the comb in ati on of [labor =7;land = 15] would have to be less tha n:A) 0.B) 116.67. C) 115.67. D) 114.67.E) none of the above.Use the followi ng to an swer questi ons 58-59:Table 2Total Product withVarious In put Comb in atio ns Land Labor 10 15 200 00 01 20 20.67 20.52 38 39.33 40.0 3 54 57.00 58.5 4 68 72.67 76.0 5 80 87.3392.5690 102.00 108.058. The product ion processdefi ned by the function recordeddisplays diminishing retur ns in both labor and land.A) True B) False59. The product ion process defi ned by the function recordeddisplays decreas ing retur ns to scale for labor but not for land.A) True B) False60. Which of the followi ng is an example of a project that could be observed in the short run? A) The con structi on of a new assembly line to match an existi ng one.B) The con structi on of a new assembly line to take adva ntage of a new tech no logy. C) The moving of an established assembly line to bring it geographically closer to a market. D) The sale of an existing assembly line on the scrap market to finance part of a new facility. E) None of the above.61. Horizontal long-run MC is associated with constant returns to scale. A) True B) False62. A fixed cost is:in Table 2in Table 2A) the cost of any in put whose per-un it price has bee n fixed, whether by Ion g-term con tract or by some similar means.B) a cost whose in creases are exactly proporti onal to in creases in output.C) any comp onent in cluded in average cost which en ters in AC as the same fixed per-un it amount, no matter what the level of pla nt output may be.D) a cost which the firm would in cur even if its output were zero.E) none of the above.Use the followi ng to an swer questi ons 63-64:Table 3Qua ntity Variable Cost Total Cost1 25 402 45 603 60 754 70 855 85 1006 105 1 207 132 1 4763. What is MC between Q = 3 and Q = 4 in Table 3?A) 10B) 15C) 20D) 25E) None of the above.64. What is AFC at Q = 5 in T able 3?A) 3B) 4C) 5D) 7.5E) 1565. Total cost at q + 1 minus total cost at q gives marginal cost for the qth un it.A) True___ B) False66. The bala nee sheet always bala nces because:A) by defi niti on, profit is the residual betwee n revenue and cost.B) every proper official bus in ess stateme nt is audited by a firm in depe ndent acco untan ts.C) acco untan ts, like statisticia ns, know how to man ipulate the truth.D) by definition, net worth equals the differenee between assets liabilities.E) none of the above.of and67. A driver wishes to buy gasoli ne and have her car washed. She finds that the wash costs $3.00 when she buys 19 gallons at $1.00 each, but that ifshe buys 20 gallons, the car wash is free. Thus the marginal cost of thetwen tieth gallo n of gas is:A) -$2.00.B) $0.00.C) $1.00.D) $2.00.E) none of the above.68. If a firm produces more goods tha n it sells and buys more raw materialsthan it uses up duri ng the year ,an inven tory adjustme nt must be made so asnot to:A) overstate earnings for the year .B) un derstate earnings for the year .C) overstate liabilities at the end of the yearD) un derstate liabilitiesg at the end of the yearE) overstate assets at the end of the year69. Both the bala nee sheet and the in come stateme nt in dicate the flow of sales, cost, and revenue over the accounting period.A) TrueB) False70. In calculating a firm's total costs, which of the following is not included?A) The own er's expertise.B) The dema nd curve facing the firm.C) The taxes paid by the firm.D) Non-esse ntial costs, such as advertis ing and en terta inment expe nses.E) In put prices.71. The zero-profit point for a perfectly competitive firm occurs where the price equals the minimum point of the:A) AVC curve.B) AC curve.C) MC curve.D) AFC curve.E) none of the above.72. In the long run, all costs:A) lie along a perfectly elastic long-run supply curve.B) are fixed costs.C) are variable costs.D) exhibit con sta nt retur ns to scale.E) depe nd upon the dema nd structure of the give n market.73. Pure econo mic rent is the price paid to a factor of product ion that is fixed in total supplyA) TrueB) False74. If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the in dustry,A) marginal cost > average cost = $16.67.B) marginal cost < average cost = $16.67.C) $16.67 = marginal cost = average cost.D) $16.67 = marginal cost > average cost.E) $16.67 = marginal cost < average cost.75. A tax on the emission of a pollutant from the firms of a competitiveindustry can be expected to cause the equilibrium quantity demandedand supplied to decli ne.A) TrueB) False76. In a market economy, the short -run react ion to an excess supply of a commodity after a decrease in dema nd is:A) price will rise, but profits fall.B) price and profits will fall.C) price will fall, but profits will be un cha nged.D) price will fall, but profits will in crease.E) price and profits will both in crease.77. In the long run, any firm will eventually leave an industry if:A) price does not cover at least average total cost.B) price is not equal to marginal cost.C) price is higher tha n average variable cost.D) price is not at least equal to the minimum of the marginal cost curve.E) other firms in the in dustry are leav ing.Use the following to answer question 78:78. I n Figure 6, the firm's econo mic profits will equal: A) 0. B) $40. C) $100. D) $150.E) none of the above. 79. Which of the followi ngis in compatiblewith an efficie ntoptimum?A) Perfect competiti on. B) Abse nee of exter nalities. C) Mon opoly.D) All of the above are in compatible. E) None of the above is in compatible. 80. Un der con diti ons of decreas ing cost: A) exter nalities are irreleva nt and in applicable.B) each of the firms in the industry will continue to produce more output at falli ng costs per un it.C) a strong case can be made for suppla nti ng complete in dividualism by some kind of group action.D) a few large sellers may come to domin ate the in dustry. E) mon opolizati on of the in dustry becomes impossible. Use the follow ing to an swer questi ons 81-82:Table 4 P Q $5 8 $4 12 $3 17$2 22 $1 2781. Suppose an impefect competitor faces the dema nd curve defi ned inecono mic心QuanlityFigure 6Table 4, and its MC is con sta nt at $2.00. If the firm is able to produce at any output level, then it maximizes profits at:A) P= =5; q==8B) P= =4; q==12.C) P= =3; q==17.D) P= =2; q==22.E) none of the above if fixed costs are less tha n $1.00.82. Con sider the dema nd curve give n in Table 4. If the imperfectly competitive firm is able to produce at any output level, then the price and qua ntity which maximize total revenue are:A) P= =5; q==8B) P= =4; q==12.C) P= =3; q==17.D) P= =2; q==22.E) P= =1; q==27.83. Falli ng marginal revenue facing an in dividual firm is in compatible with:A) growth of the firm.B) perfect competiti on.C) oligopoly.D) barriers to en try.E) none of the above.(迷惑) 84. A perce ntage tax on a mono polist's profit has no effect on the profit-maximiz ing output as long as the tax is no greater tha n 100%.A) TrueB) False85. A profit-maximizing firm will always try to operate at the level of output at which its average costs are at a minimum, i.e., at the bottom of its U-shaped cost curve.A) TrueB) False86. Steel is an oligopolistic in dustry in the U.S.A) TrueB) False87. If all firms in an industry sell identical products, then it would never pay to advertise.A) TrueB) False88. The marginal cost schedule facing an imperfect competitor is con sta ntat $12. The dema nd curve is give n in Table 5. The profit maximiz ing outputfor this firm is:Table 5P Q$20 6$19 7$18 8$17 9$16 l0A) 6 unitsB) 7 unitsC) 8 unitsD) 9 unitsE) 10 units89. If a firm's dema nd curve is horiz on tal, the n the firm's marginal revenue is:A) less tha n the price of the product.B) equal to the price of the product.C) greater tha n the price of the product.D) greater tha n, equal to, or less tha n the price of the product, depe nding on the particular circumsta nces.E) not determ in able from the above in formati on.90. An imperfect competitor is not willi ng to in crease sales at the prevaili ng price because to do so would reduce marginal revenue. (价格不能保持)A) TrueB) False91. If price equals P1 for a monopolist good and P2 for a competitive good, the n for any si ngle con sumer the ratio of marginal utilities, MU1/MU2: (等边际)A) is exactly 1, and equal to the ratios of marginal costs, MC1/MC2.B) is exactly 1, and less than the ratios of margi nal costs, MC1/MC2.C) is exactly 1, and greater than the ratios of margi nal costs, MC1/MC2.D) is exactly 1, and MC1 = MC2E) cannot be determ ined on data give n.Use the following to answer questions 92-93:92. By the deadweight loss due to mono poly, we mea n the area in Figure 7 labeled:A) PAB.B) ABCD. C)FDEQ .D) PCEB.E)BDE.The cartel soluti on would occur at point:A) B. B) E. C) H. D) G.E) none of the above. of ownership and control" in the large corporationrefers primarily to:A) gover nment limitati ons on the rights of capital own ership. B)the ability of a small minority of shareholdersor management toexercise effective con trol.C) the issua nee of voti ng warra nts to man ageme nt pers onn el.D) the lack of diversificatio n of stock own ership.E) the fact that an officer of the compa ny can sit on the board of directors, even though he may not be a shareholder.95. "There are thousa nds of 'Ma and Pa' grocery stores in the Un ited States that sell very similar mercha ndise. Therefore, the retail grocery bus in ess mustbe perfectly competitive." This stateme nt is:A) correct; grocery stores are like wheat farms, and if wheat farmi ng is perfectly competitive,so is the grocery bus in ess.B) in correct; since the product ion of food is n early perfectly competitive, the distributi on of food must be perfectly competitive also.C) in correct; grocery stores are best described as oligopolistic.D) in correct; the thousa nds of separate retail grocery markets may best be93. Con sider Figure 7. 94. The "separati onFigure 7described as mono polistically competitive with product differe ntiati on determ ined by locati on.E) correct; retail groceries are no toriously un profitable.96. A concen trati on ratio measures:A) the nu mber of firms in a perfectly competitive in dustry.B) the nu mber of products sold in a mon opolistically competitive market.C) the ratio of the total nu mber of firms in the market to the dollar value of in dustry revenu es.D) the perce nt of total in dustry output that is acco un ted for by the largest firms.E) none of the above.97. Mon opolistic deviati on from P = MC means that:A) n obody can be made better off without making some one else worse off.B) goods are being produced efficie ntly.C) society is more able to achieve its welfare optimum.D) some one can be made better off without making some one else worse off.E) none of the above.98. Which of the following best explains why collusive oligopolies are not stable?A) Compa nies are in here ntly hostile to each other .B) Compa nies feel they have a moral resp on sibility not to collude.C) Each compa ny in the oligopoly can in crease its profits by deviat ing from the agreed upon price and/or quantity.D) Oligopolies are not un stable; rather they are quite stable.E) None of the above.99. Many firms practice mark up pric ing, since it allows for profit maximizati on.A) True。