微觀經(jīng)濟學(xué)模擬題分析解析

1、Microeconomics Final Test 2010I. Multiple Choice (1 points per each. In total 40 points) Identify the letter of the choice that best completes the statement or answers the question._A_1. Which of the following will change a nation's comparative advantage?A. a technological advance in producing m

2、anufactured goods B. a doubling of all wages C. quotas on imports D. a change in consumers' preferences for imported goods 影響比較優(yōu)勢的因素：氣候和自然資源；勞動力和資本的相對充裕；技術(shù)；外部經(jīng)濟_D_ 2. If Japan can produce each unit of steel using fewer resources than Canada does, A. Canada has an absolute advantage in steel prod

3、uction. B. Japan has an absolute advantage in steel production. C. Japan has a comparative advantage in steel production. D. Canada has a comparative advantage in steel production. 絕對優(yōu)勢：數(shù)量 比較優(yōu)勢：機會成本_B_ 3. Suppose you are considering going to the movies, and you place a $12 value on your anticipated

4、enjoyment of the movie. The ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour. You would go to A. work; the opportunity cost of the movies exceeds the expected benefit. B. the movies; your incentive is the $6 excess expected benefit. C. the movies; your enjo

5、yment will exceed the lost wages by $2. D. the movies; the benefit of $18 exceeds the lost wages. _D_ 4. The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as A. quantity demanded. B. demand. C. supply. D. quantity supplied. _C_ 5. Which of

6、 the following are the best examples of substitute goods? a. personal computers and computer software programs b. milk and cookies c. IBM and Gateway personal computers d. hot dogs and mustard _B_ 6. If the decline of Good As price leads the demand curve of Good B moving to the right, A. Good A and

7、Good B are substitutes. B. Good A and Good B are complements. C. Good A is an inferior good, Good B is a luxury good. D. Good A is a luxury good, Good B is an inferior good. _ 7. If price elasticity of demand is 2.0, this implies that consumers wouldA. buy twice as much of the good if price falls by

8、 10 percent. B. require a 2 percent cut in price to raise quantity demanded of the good by 1 percent. C. buy 2 percent more of the good in response to a 1 percent cut in price. D. require at least a $2 increase in price before showing any response to the price increase. _ 8. If Weiskamp T-Shirt Co.

9、lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts, then the demand for Weiskamp T-shirts within this price range is A. price inelastic. B. price elastic. C. unit elastic. D. cross elastic. _ 9. A 5 percent increase in the price of sugar

10、reduces sugar consumption by about 10 percent. The increase causes households to A. spend more on sugar. B. spend less on sugar. C. spend the same amount on sugar. D. consume more goods like coffee and tea that are complements of sugar. _ 10. In which of the markets listed below would you expect the

11、 least elastic response from suppliers? A. fast food B. soft drink C. road building D. Picasso paintings _ 11. If the price of Good A decreases from $10 to $9 and its quantity demanded increases 100, its price elasticity of demand is A. inelastic. B. elastic. C. unit-elastic. D. unclear. _ 12. If th

12、e equilibrium price of bread is $2 and the government imposes a $1.50 price ceiling on the price of bread, A. more bread will be produced to meet the increased demand. B. there will be a shortage of bread. C. the demand for bread will decrease because suppliers will reduce their supply. D. a surplus

13、 of bread will emerge. _13. Rent controls typically end up A. increasing rents received by landlords. B. raising property values. C. encouraging landlords to overspend for maintenance. D. discouraging new housing construction. 3 _ 14. Assume that the government sets a ceiling on the interest rate th

14、at banks charge on loans. If the ceiling is set below the market equilibrium interest rate, the result will be A. a surplus of credit. B. a shortage of credit. C. greater profits for banks issuing credit. D. a perfectly inelastic supply of credit in the market place. _ 15. Which of the following bes

15、t explains the source of consumer surplus for good A? A. Many consumers would be willing to pay more than the market price for good A. B. Many consumers pay prices that are greater than the equilibrium price of good A. C. Many consumers think the market price of good A is greater than its cost. D. M

16、any consumers think the price elasticity of demand for good A is unit elastic. _ 16. If you had been willing to pay $2.19 for the gallon of milk purchased at the supermarket but were required to pay only $1.89, you have gained A. a refund of $.30 from the clerk. B. a consumer surplus amounting to $.

17、30. C. excess marginal benefit of $2.19. D. producer surplus of $.30. _17. If demand increases when supply is perfectly elastic, then A. consumer surplus will remain the same. B. consumer surplus will increase. C. it is not possible to predict the change in consumer surplus. D. consumer surplus will

18、 decrease with the increase in price. _ 18. Producer surplus tends to be large when A. supply is elastic. B. demand is elastic. C. supply is inelastic. D. demand is inelastic. _ 19. Which of the following is an example of a positive externality? A. air pollution B. a person who litters in a public p

19、ark C. a consumer whose dream comes true when she buys a new convertible D. a nice garden in front of your neighbor's house _ 20. Deadweight loss A. means that there is a loss to some individuals without a corresponding gain to others. B. is not really a loss to society because what one individu

20、al loses another individual gains. C. can be eliminated by sales taxes. D. can occur even if output is at the efficient level. 4 _21. The slope of an indifference curve is A. marginal rate of substitution. B. marginal rate of technical substitution. C. marginal rate of transformation. D. marginal ut

21、ility. _ 22. When total output increases from 100 to 101 and total costs increase form 300 to 315, marginal cost is A. 30. B. 330. C. 300. D. 15. _ 23. As Al's Radiator Co. continues to add workers, while keeping the same amount of machinery, some workers may be underutilized because they have l

22、ittle work to do while waiting in line to use the machinery. When this occurs, Al's Radiator Co. encounters A. economies of scale. B. diseconomies of scale. C. increasing marginal returns. D. diminishing marginal returns. _ 24. If the price ratio of commodities X and Y is 1.25 and their ratio of

23、 marginal utility is 2, in order to maximize utility the consumer should A. buy more X and buy less Y. B. buy more Y and buy less X. C. buy more X and Y at the same time. D. buy less X and Y at the same time. _25. Which of the following is the best example of a variable cost? A. monthly payments for

24、 hired labor B. property tax payments C. monthly rent payments for a warehouse D. pension payments to retired workers _ 26. The minimum points of the average variable cost and average total cost curves occur where A. the marginal cost curve lies below the average variable cost and average total cost

25、 curves. B. the marginal cost curve intersects those curves. C. wages are the lowest. D. the slope of total cost is the smallest. _ 27. When the marginal product of labor falls, the marginal cost of output A. falls, then rises. B. becomes negative. C. rises. D. remains constant. 5 _ 28. Which of the

26、 following factors is most likely to shift IBM's total cost and marginal cost curves downward? A. a technological advance resulting in increased productivity B. higher property taxes charged by the municipal government C. increased wages to attract additional computer operators D. a reduction in

27、 subsidies from the state government _ 29. When total production decreases, A. APL is zero. B. APL is negative. C. APL is zero. D. APL is negative. _ 30. Since the 1980s, Wal-Mart stores have appeared in almost every community in America. Wal-Mart buys their goods in large quantities and therefore a

28、t cheaper prices. Wal-Mart also locates its stores where land prices are low, usually outside of the community business district. Many customers shop at Wal-Mart because of low prices and free parking. Local retailers, like the neighborhood drug store, often go out of business because they lose cust

29、omers. This story demonstrates thatA. consumers are boycotting local retailers whose prices are relatively higher. B. there are diseconomies of scale in retail sales. C. there are economies of scale in retail sales. D. there are diminishing returns to producing and selling retail goods. _31. Which o

30、f the followings is mostly unlikely to be a monopolist? A. the only doctor in a small town. B. the Coca-Cola company. C. the electricity company in a region. D. the tap-water company in a region. _ 32. If a firm can produce the same level of output when it uses more one unit of labor while using les

31、s two units of capital, MRTSLK is A. 0.5. B. 2. C. 1. D. 4. _ 33. Which of the followings is correct when AC is at the lowest point? A. AVC=FC. B. MC=AC. C. P=AVC. D. P=MC. _ 34. A saving grace of monopoly compared with competition is that A. monopolists have more incentives to reduce their producti

32、on costs. B. the output restricted by a monopolist is a good way to reduce pollution in a polluted industry. C. keeping monopoly is better to technical innovation because of patent rights. D. given a market scale, the only firm can always cause diseconomy of scale. _ 35. A perfectly competitive mark

33、et refers to A. the quantity of goods and services produced and consumed by participants accounts only a 6 small fraction of total goods and services in the market. B. participants in the market are price takers. C. the products exchanged are identical. D. all of above. _36. For a firm in a perfectl

34、y competitive market, the short-run equilibrium means that A. P=the lowest AC. B. P=MC. C. there not exist economic profit. D. there not exist economic loss. _ 37. Most markets are not monopolies in the real world because A. firms usually face downward-sloping demand curves. B. supply curves slope u

35、pward. C. price is usually set equal to marginal cost by firms. D. there are reasonable substitutes for most goods. _ 38. The supply curve of a monopolist A. is upper-slope. B. is its marginal cost curve. C. is its marginal revenue curve. D. does not exist. _ 39. In which kind of following markets a

36、 firm can charge the highest price via price discrimination? A. when the price elasticity of demand is highest. B. when the price elasticity of demand is lowest. C. when the price elasticity of demand is inelastic. D. when the price elasticity of demand is elastic. _ 40. In a perfectly competitive m

37、arket the prices of factors X, Y, and Z are respectively $6, $4, and $1, while their marginal products are respectively 12, 8, and 2 units with the price of $1 each unit, therefore, A. marginal revenue of X, Y, and Z is respectively smaller than its price. B. marginal revenue of X, Y, and Z equals r

38、espectively to its price. C. marginal revenue of X, Y, and Z is respectively bigger than its price. D. the above answers B, and C are true. II. Term definition (2 points per each. 20 points in total) 1. Opportunity cost 2. Production possibilities frontier 3. Substitution effect 4. Economies of Scal

39、e 5. Price floor 6. Coase theorem 7. Public Goods 8. Stockholders equity 9. Economic profit 10. Endowment effect III. Discussion (4 points per each. 20 points in total) 1. Why are the marginal and average cost curves U-shaped? 2. What are the main sources of comparative advantage? 3. What is the mai

40、n reason for deciding whether to produce or to shut down in the short run? 4. What is the prisoners dilemma? Can firms escape the prisoners dilemma? 5. When a firm plans to expand production, there are two ways of raising capitals by using either bank loans with interest rate of 10% or the firms pro

41、fit. The manager of the firm wants to choose the latter way. His reason is that the firms profit is less expensive because it is free of interests. What do you think about the managers choice? IV. Case Analysis (20 points in total) Began in 2002 and after the hearing conference of witnesses, the dep

42、artment of railway implemented completely a floating ticket price in the Spring Transportation. However, its effect was very little: there were 128 million person-times of passengers in the Spring Transportation via railway in 2002; while the number of passengers is respectively 134 million in 2003,

43、 137 million in 2004, 140 million in 2005, 150 million in 2006, and 156 million in 2007. Please answer the following questions: (1). For the markup of ticket prices in the Spring Transportation during the consecutive years, there were some reasons given by the department of railway: one reason was t

44、hat “the markup of ticket prices is good to cutting the mountain-peak and filling the valley”, while a second reason was that “the markup can distribute passengers and mitigate the pressure of railway transportation”, etc. Please apply elasticity analysis to discussing these reasons. (8 points) (2).

45、 Based on the relationship between elasticity and revenue, can we get rid of our suspicion that the markup in the Spring Transportation is a handful of gains by the railway-related companies? (5 points) (3). The price of railway transportation is regulated by the government. Due to the disputed mark

46、up of ticket prices in the Spring Transportation during the years, the department of railway promised to keep a stable price in 2008. However, lots of people were disappointed at the way of price-down in the low-seasons but getting-back to the normal price in the Spring Transportation. Please make y

47、our comments on it. (7 points) Microeconomics Final Test 2009I. Multiple Choice (1 points per each. In total 40 points) Identify the letter of the choice that best completes the statement or answers the question. _ 1. Which of the following will change a nation's comparative advantage? a. a tech

48、nological advance in producing manufactured goods b. a doubling of all wages c. quotas on imports d. a change in consumers' preferences for imported goods _ 2. If Japan can produce each unit of steel using fewer resources than Canada does, a. Canada has an absolute advantage in steel production.

49、 b. Japan has an absolute advantage in steel production. c. Japan has a comparative advantage in steel production. d. Canada has a comparative advantage in steel production. _ 3. Suppose you are considering going to the movies, and you place a $12 value on your anticipated enjoyment of the movie. Th

50、e ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour. You would go to a. work; the opportunity cost of the movies exceeds the expected benefit. b. the movies; your incentive is the $6 excess expected benefit. c. the movies; your enjoyment will exceed the lost

51、 wages by $2. d. the movies; the benefit of $18 exceeds the lost wages. _ 4. The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as a. quantity demanded. b. demand. c. supply. d. quantity supplied. _ 5. Which of the following are the best ex

52、amples of substitute goods? a. personal computers and computer software programs b. milk and cookies c. IBM and Gateway personal computers d. hot dogs and mustard _ 6. Which of the following sets of goods are most likely to be complementary goods? a. shoes and pizza b. automobiles and computers c. b

53、aseballs and baseball gloves d. football tickets and baseball tickets 2 _ 7. An increase in the number of tomato producers will a. increase market supply because the price of tomatoes will rise. b. increase market supply because market demand will increase as more tomatoes are produced. c. increase

54、market supply because market supply is the sum of all the individual tomato producers' supply curves. d. increase market demand but leave market supply unchanged. _ 8. If price elasticity of demand is 2.0, this implies that consumers would a. buy twice as much of the good if price falls by 10 pe

55、rcent. b. require a 2 percent cut in price to raise quantity demanded of the good by 1 percent. c. buy 2 percent more of the good in response to a 1 percent cut in price. d. require at least a $2 increase in price before showing any response to the price increase. _ 9. If Weiskamp T-Shirt Co. lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts, then the demand for Weiskamp T-s