选择题
1. The concept that goods produced abroad and sold domestically is called a. Export b. Investment c. import d. Trade
2. The basic question which economics studies is a. how to produce b. What to produce c. produce for whom
d. All of the above are correct
3. Which of the following choice is not the opportunity cost for having a vacation? a. train ticket
b. earnings if you work c. expense for food d. time
4. In a perfectly competitive market: a. there is only a seller and a buyer b. there are many sellers, but only a buyer c. There is only a seller, but many buyers d. There are many sellers and buyers
5. Suppose shoes and socks are complements, then if the price of shoes raise, demand of the socks will a. increase b. reduce c. Not change
d. it’s hard to judge
6. Which of the following condition need to face tradeoffs? a. Watching TV b. Going to work c. Going shopping
d. All of the above are correct
7. Suppose both US and China produce cars toys, based on the following form, which country has a comparative advantage in producing cars and which country has a comparative advantage in producing toys? US China a.US, US b. US, China
1 car 100 hours of labor 125 hours of labor 1 toy 5 hours of labor 1 hours of labor c. China, US d. China, China
8. According to the law of supply, when the price of a good rises a. The demand of the good reduce b. The supply of the good increase c. The demand of the good increase d. The supply of the good reduce
9. Which of the following incidents will shift Demand curve of milk to the right? a. the price of milk rises
b. people have more preference on milk c. the price of milk fall
d. there is a disease happened on cows
10. If the price of a good is lower than its equilibrium price then: a. there is a surplus and the price will go up b. there is a surplus and the price will go down c. there is a shortage and the price will go up d. there is a shortage and the price will go down 11. A binding price floor will cause a maximum surplus if: a. the Supply is elastic but the Demand is inelastic b. the supply is inelastic but the Demand is elastic c. both of supply and demand are elastic d. Both of supply and demand are inelastic
12. Accroding to the following Production Possibilities Frontier of two countries. In which country is the opportunity cost of cloth lower? In which country is the opportunity cost of wine is lower？
a . France, France b .England, England c .France, England d .England, France
13. If the price elasticity of supply for one good is 0, the supply curve of the good will be : P
A B C D
Q
14.Suppose that consumers use 15％ of their income on the food, then the income elasticity of demand for food is : a.0.15 b.1.00 c.1.15 d.1.50
15. When the cross-price elasticity of demand between two goods is negative, those two goods will be:
a. complements b. substitutes c. inferior goods d. normal goods
16.Other things equal, when the supply of workers is low, one would predict that market wages would be:
a. relatively high. b. relatively low.
c. determined solely by factors that affect demand. d. determined outside the domain of economic theory.
17.Which of the following statements is correct?
a. Both a competitive firm and a monopolist are price takers. b. Both a competitive firm and a monopolist are price makers.
c. A competitive firm is a price taker, whereas a monopolist is a price maker. d. A competitive firm is a price maker, whereas a monopolist is a price taker.
18. Which of the following is not a determinant of the price elasticity of demand for a good?
a. the time horizon
b. the steepness or flatness of the supply curve for the good c. the definition of the market for the good d. the availability of substitutes for the good 19. Whether a good is a luxury or necessity depends on the
a. price of the good.
b. preferences of the buyer. c. intrinsic properties of the good. d. scarcity of the good.
20. The price elasticity of demand for eggs
a. is computed as the percentage change in quantity demanded of eggs divided by the
percentage change in price of eggs.
b. will be lower if there is a new invention that is a close substitute for eggs. c. will be higher if consumers consider eggs to be a necessity. d. All of the above are correct. Table 5-1
Good A B
Price Elasticity of Demand 1.3 2.1 21. Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-1?
a. A is grapes, and B is fruit. b. A is T-shirts, and B is socks.
c. A is train tickets before cars were invented, and B is train tickets after cars were
invented.
d. A is diamond necklaces, and B is beds. 22. If a price ceiling is not binding, then
a. there will be a surplus in the market. b. there will be a shortage in the market.
c. the market will be less efficient than it would be without the price ceiling. d. there will be no effect on the market price or quantity sold. 23. Welfare economics explains which of the following in the market for DVDs?
a. The government sets the price of DVDs; firms respond to the price by producing a specific
level of output.
b. The government sets the quantity of DVDs; firms respond to the quantity by charging a
specific price.
c. The market equilibrium price for DVDs maximizes the total welfare to DVD buyers and
sellers.
d. The market equilibrium price for DVDs maximizes consumer welfare but minimizes producer
welfare.
24. Consumer surplus
a. is the amount a buyer pays for a good minus the amount the buyer is willing to pay for
it.
b. is represented on a supply-demand graph by the area below the price and above the demand
curve.
c. measures the benefit sellers receive from participating in a market. d. measures the benefit buyers receive from participating in a market. Table 7-1
Buyer Lori Audrey Zach Calvin Willingness To Pay $50.00 $30.00 $20.00 $10.00 25. Refer to Table 7-1. If the price of the product is $15, then who would be willing to purchase the product?
a. Lori
b. Lori and Audrey c. Lori, Audrey, and Zach
d. Lori, Audrey, Zach, and Calvin
26.This table refers to five possible buyers' willingness to pay for a case of Vanilla Coke. Refer to Table 7-2. If the price of Vanilla Coke is $6.90, who will purchase the good?
Buyer David Laura Megan Mallory Audrey Willingness To Pay $8.50 $7.00 $5.50 $4.00 $3.50 a. all five individuals b. Megan, Mallory and Audrey c. David, Laura and Megan d. David and Laura
27. Refer to Table 7-6. You are selling extra tickets to the Midwest Regional Sweet 16 game in the men’s NCAA basketball tournament. The table shows the willingness to pay of the four potential buyers in the market for a ticket to the game. Which of the following graphs represents the market demand curve?
a.
$500$400$350$300Pricec.
$500$400$350$300Price1234Quantity1234Quantity
百度搜索“77cn”或“免费范文网”即可找到本站免费阅读全部范文。收藏本站方便下次阅读，免费范文网，提供经典小说教育文库2012-2013春季学期微观经济学复习题 红河学院在线全文阅读。
相关推荐：