2022年微观经济学题库2.doc

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1、Microeconomics, 10e (Parkin)Part 2 ReviewHow Markets Work1) Gadgets, Inc. can increase its total revenue by raising the price of its product. From this result we can conclude that theA) price increase increases demand for the firms product.B) firm sells an inferior good.C) demand for the firms produ

2、ct is price inelastic.D) demand for the firms product is price elastic.Answer: CTopic: Total Revenue and ElasticitySkill: ConceptualQuestion history: Previous edition, Part Review 2AACSB: Reflective Thinking2) Widgets, Inc. can increase its total revenue by lowering the price of its product. From th

3、is result we can conclude that theA) decrease in price increases demand for the firms product.B) firm sells an inferior good.C) demand for the firms product is price inelastic.D) demand for the firms product is price elastic.Answer: DTopic: Total Revenue and ElasticitySkill: ConceptualQuestion histo

4、ry: Previous edition, Part Review 2AACSB: Reflective Thinking3) If OPEC cuts oil production to increase their total revenue, we know that A) the demand for gasoline will decrease.B) the price of gasoline will fall.C) the demand for oil in the global market is inelastic.D) OPEC faces a horizontal dem

5、and for oil curve.Answer: CTopic: Total Revenue and ElasticitySkill: ConceptualQuestion history: Previous edition, Part Review 2AACSB: Reflective Thinking4) If OPEC cuts oil production to increase their total revenue, we know that theA) demand for gasoline will decrease.B) price of gasoline will ris

6、e.C) demand for oil in the global market is elastic.D) supply of gasoline will increase.Answer: BTopic: Total Revenue and ElasticitySkill: ConceptualQuestion history: Previous edition, Part Review 2AACSB: Reflective Thinking5) If OPEC cuts oil production to increase their total revenue, we know that

7、 theA) demand for gasoline will decrease.B) price of gasoline will fall.C) demand for oil in the global market is elastic.D) supply of gasoline will decrease.Answer: DTopic: Change in SupplySkill: ConceptualQuestion history: Previous edition, Part Review 2AACSB: Reflective Thinking6) The figure abov

8、e shows the market for digital cameras. If the price of film cameras falls, the efficient quantity of digital cameras will be _ thousand cameras and the marginal cost of a digital camera will be _.A) less than 300; less than $300B) greater than 300; less than $300C) 300; greater than $300D) greater

9、than 400; greater than $310Answer: ATopic: Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills7) The figure above shows the market for digital cameras. If consumers incomes rise and a digital camera is a normal good, the efficient quantity of

10、digital cameras to produce will be _ thousand cameras and the marginal cost of a digital camera will be _.A) less than 300; less than $300B) greater than 300; less than $300C) 300; greater than $300D) greater than 300; greater than $300Answer: DTopic: Equilibrium QuantitySkill: AnalyticalQuestion hi

11、story: Previous edition, Part Review 2AACSB: Analytical Skills8) The figure above shows the market for digital cameras. If consumers income rise and a digital camera is a normal good, the efficient quantity of digital cameras will be _ thousand cameras and the equilibrium quantity will be _ thousand

12、 cameras.A) less than 300; less than 300B) greater than 300; less than 300C) 300; greater than 300D) greater than 300; greater than 300Answer: DTopic: Equilibrium and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills9) The figure above shows

13、 the market for digital cameras. The price of film cameras falls. In the new equilibrium, the price of a digital camera will be _ and the marginal benefit from the last digital camera purchased will be _.A) less than $300; less than $300B) greater than $300; less than $300C) $300; greater than $300D

14、) greater than $300; greater than $300Answer: DTopic: Equilibrium Price and Marginal CostSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills10) The figure above shows the market for digital cameras. If there are technological advances in making digital cameras,

15、 the efficient quantity of digital cameras will be _ thousand cameras and the equilibrium quantity will be _ thousand cameras.A) less than 300; less than 300B) greater than 300; less than 300C) 300; greater than 300D) greater than 300; greater than 300Answer: DTopic: Equilibrium and Efficient Quanti

16、tySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills11) The figure above shows the market for digital cameras. If new technology lowers the cost of producing digital cameras, the efficient quantity of digital cameras will be _ and compared to the original equi

17、librium, the consumer surplus will _.A) less than 300; increaseB) less than 300; decreaseC) greater than 300; increaseD) greater than 300; decreaseAnswer: CTopic: Efficient Quantity and Consumer SurplusSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills12) The

18、figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, how many cameras are sold?A) 150 thousandB) 200 thousandC) 250 thousandD) 300 thousandAnswer: BTopic: TaxSkill: AnalyticalQuestion history: Previous edition, Par

19、t Review 2AACSB: Analytical Skills13) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, buyers will pay a _ fraction of the tax than sellers will pay because the demand is _ elastic than the supply is.A) sma

20、ller; moreB) smaller; lessC) greater; moreD) greater; lessAnswer: ATopic: Tax IncidenceSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills14) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the eq

21、uilibrium quantity of digital cameras is _ thousand cameras and the efficient quantity of digital cameras to produce is _ thousand cameras.A) 300; 200B) 200; 300C) 200; 200D) 300; 300Answer: BTopic: Equilibrium and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2A

22、ACSB: Analytical Skills15) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is _ and the marginal benefit that consumers receive from it is _.A) $330; $300B) $310; $280C) $280; $310D

23、) $300; $300Answer: CTopic: Marginal Cost and Marginal BenefitSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills16) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, consumer surplus willA) not cha

24、nge.B) decrease by $1,500.C) increase by $1,000.D) decrease by $2,500.Answer: DTopic: Consumer SurplusSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills17) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is

25、imposed, and at the same time new technology lowers the marginal cost of producing a digital camera by $30 at each level of output, the equilibrium quantity of digital cameras is _ thousand cameras and the efficient quantity of digital cameras to produce is _ thousand cameras.A) 300; 400B) 400; 300C

26、) 300; 200D) 300; 300Answer: ATopic: Equilibrium and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills18) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, and at the same time n

27、ew technology lowers the marginal cost of producing a digital camera by $30 at each level of output, the marginal cost of the last camera produced is _ and the marginal benefit that consumers receive from it is _.A) $300; $300B) $270; $300C) $290; $320D) $290; $290Answer: BTopic: Marginal Cost and M

28、arginal BenefitSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills19) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $900, the quantity of apartment units rented is _ , and the efficient quantity o

29、f apartment units to rent is _.A) 400; 1,000B) 400; 800C) 800; 800D) 800; 1,000Answer: CTopic: Rent Ceiling and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills20) The figure above shows the demand for and supply of rental housing in Steppe

30、ville. If a rent ceiling is set at $900, the marginal benefit from renting an apartment unit is _ and the quantity of apartments supplied is _.A) $900; 1,000B) $900; 400C) $800; 400D) $800; 800Answer: DTopic: Rent Ceiling and Marginal BenefitSkill: AnalyticalQuestion history: Previous edition, Part

31、Review 2AACSB: Analytical Skills21) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the quantity of apartment units rented is _ , and the efficient quantity of apartment units to rent is _.A) 1,200; 600B) 600; 600C) 600; 800D) 800;

32、 800Answer: CTopic: Rent Ceiling and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills22) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting

33、an apartment unit is _ and the quantity of apartment units supplied is _.A) $700; 600B) $850; 600C) $800; 800D) $700; 800Answer: BTopic: Rent Ceiling and Marginal BenefitSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills23) The figure above shows the demand fo

34、r and supply of rental housing in Steppeville. A rent ceiling is set at $700. The rent ceiling creates a _ and there _ a deadweight loss.A) surplus of 1,200 apartments; is notB) surplus of 600 apartments; isC) shortage of 600 apartments; isD) shortage; 1,200 apartments; is notAnswer: CTopic: Rent Ce

35、iling and Efficient QuantitySkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills24) The figure above shows the demand for and supply of rental housing in Steppeville. A rent ceiling is set at $700. Rental housing is a normal good and peoples incomes increase. As

36、 a result, the,A) gap between the efficient quantity of housing to rent and the actual quantity rented will increase.B) gap between the efficient quantity of housing to rent and the actual quantity rented will decrease.C) shortage of housing will decrease.D) quantity of housing supplied will increas

37、e.Answer: ATopic: Rent CeilingSkill: AnalyticalQuestion history: Previous edition, Part Review 2AACSB: Analytical Skills25) _ occurs when a foreign firm sells its exports at a lower price than its cost of production.A) A quotaB) DumpingC) A tariffD) A nontariff barrierAnswer: BTopic: TradeSkill: RecognitionQuestion history: Previous edition, Part Review 2AACSB: Reflective Thinking