暨南大学-微观经济学习题集.doc

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Exercises for Microeconomics
Chapter 1
问题 1 Scarcity
A. is the inability to satisfy all our wants.
B. leads to higher prices.
C. applies only to people living in poverty.
D. is not something that affects very rich people.
E. used to exist everywhere but has been eliminated in advanced economies.
问题 2 The study of economics is best described as a study of
A. the factors that influence the stock and bond markets.
B. capitalism.
C. the choices made in producing goods and services.
D. coping with scarcity, and choices made as a result of scarcity in a society.
E. how people earn a living.
问题 3 Microeconomics is the branch of economics that deals with which of the following topics?
A. The behavior of individual consumers
B. Unemployment and interest rates
C. The behavior of individual firms and investors
D. B and C
E. A and C
问题 4 A Rolling Stones song goes: ʺYou canʹt always get what you want.ʺ This echoes an importanttheme from microeconomics. Which of the following statements is the best example of thistheme?
A. Consumers must make the best purchasing decisions they can, given their limitedincomes.
B. Workers do not have as much leisure as they would like, given their wages and workingconditions.
C. Workers in planned economies, such as North Korea, do not have much choice over jobs.
D. Firms in market economies have limited financial resources.
问题 5 Economics is about the allocation of scarce resources. Which of the following is NOT anexample of economic scarcity?
A. If Steve goes to see the movie Master and Commander on Saturday, he will not be able to afford buying ice cream.
B. If Jenny studies for her economics quiz this evening, she will not have time to walk herdog.
C. If General Motors increases its production of SUVs this year, it will have to spend moreon advertising.
D. If Borders Books increases the number of titles it carries, it will have to reallocate shelf space to accommodate the new titles.
问题 6 A valid and useful theory of gold prices:
A. helps to predict the movements of gold prices over time.
B. may be founded on simplifying assumptions.
C. need not exactly predict every change in gold prices.
D. all of the above
E. none of the above
问题 7 Which of the following is a positive statement?
A. The President of the United States ought to be elected by a direct vote of the American people rather than the Electoral College.
B. A fundamental assumption of the economic theory of consumer behavior is that consumers always prefer having more of any good to having less of it.
C. Because many adults cannot afford to go to college, tax credits for tuition should be introduced.
D. all of the above
E. none of the above
问题 8 Which of the following is a normative statement?
A. The taxes paid by the poor should be reduced in order to improve the incomedistribution in the U.S.
B. State governments should not subsidize corporations by training welfare recipients.
C. Presidential candidates should not be given funds from the federal government to runcampaigns.
D. The sea otter should not be allowed to spread into Southern California coastal waters, because it will reduce the value of fisheries.
E. all of the above
问题 9 Which of the following is a positive statement?
A. Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory.
B. The minimum wage should not be increased because this action would increase unemployment.
C Smoking should be restricted on all airline flights.
D. All automobile passengers should be required to wear seatbelts in order to protect them against injury.
E. none of the above
问题 10 Which of the following is a positive statement?
A. When the price of a good goes up, consumers buy less of it.
B. When the price of a good goes up, firms produce more of it.
C. When the Federal government sells bonds, interest rates rise and private investment is reduced.
D. all of the above
E. none of the above
问题 11 The key assumption underlying the theory of the firm is that:
A firms are assumed to maximize sales revenue.
B. managers are assumed to maximize the number of employees in their department.
C. firms are assumed to maximize profits.
D. none of the above
问题 12 Which of the following statements is NOT true?
A. The trade-offs facing consumers and producers are based on prices.
B. All prices are determined by market interactions between buyers and sellers. C. Prices serve an important role in microeconomics.
D. Only A and B above false.
E. Only B and C above are false.
问题 13 The trade-offs facing consumers include:
A. how to allocate income across goods and serves.
B. how to allocate income between consumption and savings.
C. both A and B
D. none of the above
问题 14 The trade-offs facing workers include all of the following EXCEPT:
A. decision to work or remain outside the workforce.
B. decision to work or seek additional education.
C. decision to work for a large corporation or a small firm.
D. decision to allocate their time between work and leisure.
E. All of the above are trade-offs facing workers.
问题 15 Firms face trade-offs in production, including decisions related to:
A. which products to produce.
B. how much of a particular product to produce.
C. the best way to produce a given amount of output.
D. all of the above
问题 16 The price of a taco was $0.29 in 1970 and $0.99 in 1993. The CPI was 38.8 in 1970 and 144.0 in 1993. The 1993 price of a taco in 1970 dollars is:
A. $0.08.
B. $0.27.
C. $0.34.
D. $3.67.
问题 17 Which of the following markets has the most restrictive geographic boundary?
A. The market for retail gasoline
B. The market for housing
C. The market for gold
D. The market for beef
问题 18 Why is market definition important for economic decision making?
A. A firm is interested in knowing its actual and potential competitors.
B. A firm will define its market in order to maximize revenue.
C. Government regulators are interested in knowing the effect of mergers and acquisitions on competition and prices in a particular market.
D. both A and C
E. both A and B
问题 19 What does it mean when the CPI is higher this year than last?
A. The rate of inflation has increased.
B. There has been inflation since last year.
C. Real prices have increased.
D. Real prices have decreased.
问题 20 Which of the following could not possibly be included in the same market as Coke?
A. A) Pepsi
B. Gatorade
C. Milk
D. Bread
Chapter 2
问题 1 Which of the following is NOT an application of supply and demand analysis?
A. Understanding changing world economic conditions and their effects on prices
B. Evaluating the effects of government price controls on the agricultural industry
C. Determining how taxes affect aggregate consumption spending patterns
D. all of the above
E. none of the above
问题 2 A supply curve reveals:
A. the quantity of output consumers are willing to purchase at each possible market price.
B. the difference between quantity demanded and quantity supplied at each price.
C. the maximum level of output an industry can produce, regardless of price.
D. the quantity of output that producers are willing to produce and sell at each possible market price.
问题 3 Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things remaining the same, we would expect:
A. the price of steel to fall.
B. the demand curve for steel to shift to the right.
C. the demand curve for plastic to shift to the left.
D. nothing to happen to steel because it is only a substitute for plastic.
E. the demand curve for steel to shift to the left.
问题 4 Coffee and cream:
A. are both luxury goods.
B. are complements.
C. are both more inelastic in demand in the long run than in the short run.
D. have a positive cross price elasticity of demand.
问题 5 Which of the following would shift the demand curve for new textbooks to the right?
A. A fall in the price of paper used in publishing texts
B. A fall in the price of equivalent used textbooks
C. An increase in the number of students attending college
D. A fall in the price of new textbooks.
问题 6 When an industryʹs raw material costs increase, other things remaining the same,
A. the supply curve shifts to the left.
B. the supply curve shifts to the right.
C. output increases regardless of the market price and the supply curve shifts upward.
D. output decreases and the market price also decreases.
问题 7 Sugar can be refined from sugar beets. When the price of those beets falls,
A. the demand curve for sugar would shift right.
B. the demand curve for sugar would shift left.
C. the supply curve for sugar would shift right.
D. the supply curve for sugar would shift left.
问题 8 Assume that steak and potatoes are complements. When the price of steak goes up, the demand curve for potatoes:
A. shifts to the left.
B. shifts to the right.
C. remains constant.
D. shifts to the right initially and then returns to its original position.
问题 9 Which of the following events will cause a leftward shift in the supply curve of gasoline?
A. A decrease in the price of gasoline
B. An increase in the wage rate of refinery workers
C. Decrease in the price of crude oil
D. An improvement in oil refining technology
E. all of the above
问题 10 Which of the following will NOT cause a shift in the supply of gasoline?
A. An increase in the wage rate of refinery workers
B. A decrease in the price of gasoline
C. An improvement in oil refining

D. technologyA decrease in the price of crude oil
问题 11 You are analyzing the demand for good X. Which of the following will result in a shift to the right of the demand curve for X?
A. A decrease in the price of X
B. An increase in the price of a good that is a complement to good X
C. An increase in the price of a good that is a substitute for X
D. all of the above
问题 12 The price of good A goes up. As a result, the demand for good B shifts to the left. From this we can infer that:
A. good A is used to produce good B.
B. good B is used to produce good A.
C. goods A and B are substitutes.
D. goods A and B are complements.
E. none of the above
问题 13 Which of the following will cause the demand curve for Beatlesʹ compact discs to shift to the right?
A. An increase in the price of the discs
B. A decrease in consumersʹ incomes
C. An increase in the price of Phil Collins' latest compact disc (a substitute)
D. all of the above
E. none of the above
问题 14 Which of the following will NOT cause a rightward shift in the demand curve for beer?
A. A change in the price of beer
B. A health study indicating positive health benefits of moderate beer consumption
C. An increase in the price of French wine (a substitute)
D. A decrease in the price of potato chips (a complement)
E. none of the above
问题 15 Suppose biochemists discover an enzyme that can double the amount of ethanol that may be derived from a given amount of biomass. Based on this technological development, we expect the:
A. supply curve for ethanol to shift leftward.
B. supply curve for ethanol to shift rightward.
C. demand curve for ethanol to shift leftward.
D. demand curve for ethanol to shift rightward.
问题 16 Due to the recent increase in the price of natural gas, the quantity of coal demanded by electric power generation plants has increased. Based on this information, coal and natural gas are:
A. complements.
B. substitutes.
C. independent goods.
D. none of the above
问题 17 To protect the cod fishery off the northeast coast of the U.S., the federal government may limit the amount of fish that each boat can catch in the fishery. The result of this public policy is to:
A. shift the cod demand curve to the left.
B. shift the cod demand curve to the right.
C. shift the cod supply curve to the right.
D. shift the cod supply curve to the left.
问题 18 When the current price is above the market-clearing level we would expect:
A. quantity demanded to exceed quantity supplied.
B. quantity supplied to exceed quantity demanded.
C. a shortage.
D. greater production to occur during the next period.
问题 19 Assume that the current market price is below the market clearing level. We would expect:
A. a surplus to accumulate.
B. B) downward pressure on the current market price.
C. upward pressure on the current market price.
D. lower production during the next time period.
问题 20 As long as the actual market price exceeds the equilibrium market price, there will be:
A. downward pressure on the market price.
B. upward pressure on the market price.
C. no purchases made.
D. Both A and C are correct.
E. Both B and C are correct.
Chapter 3
问题 1 Gary Franklin is a movie critic. He invented the Franklin Scale with which he rates movies from 1 to 10 (10 being best). When asked about his scale, Mr. Franklin explained "that it is a subjective measure of movie quality. A movie with a ranking of 10 is not necessarily 10 times better than a movie with a ranking of 1, but it is better. A movie with a ranking of 5 is better than a movie with a ranking of 1, but is not as good a movie with a ranking of 10. That's all it really tells you." Based on Mr. Franklin's description, his scale is:
A) ordinal but not cardinal.
B) cardinal but not ordinal.
C) an objective standard to judge movies.
D) neither cardinal nor ordinal.
问题 2 Which of the following is NOT an assumption regarding people's preferences in the theory of consumer behavior?
A) Preferences are complete..
B) Preferences are transitive.
C) Consumers prefer more of a good to less.
D) All of the above are basic assumptions about consumer preferences
问题 3 The theory of consumer behavior is based on certain assumptions. The set of four basic assumptions includes:
A) completeness.
B) transitivity.
C) intransitivity.
D) Both A and B are correct.
E) Both A and C are correct.
问题 4 The assumption of transitive preferences implies that indifference curves must:
A) not cross one another.
B) have a positive slope.
C) be L-shaped.
D) be convex to the origin.
E) all of the above
问题 5 A consumer prefers market basket A to market basket B, and prefers market basket B to market basket C. Therefore, A is preferred to C. The assumption that leads to this conclusion is:
A) transitivity.
B) completeness.
C) all goods are good.
D) diminishing MRS.
E) assumption of rationality.
问题 6 The assumption that preferences are complete:
A) means that a consumer will spend her entire i