5学原理》(微观)第五版测试题库 (04) 曼昆经济学原理第五版测试题库(微观) .doc

一、选择题：（每小题1分，共20分）1.一国的生产可能性曲线上的点表示（D）A.通货膨胀B.该国可利用的资源减少及技术水平降低C.失业或者资源没有被充分利用D.社会使用既定的生产资源所能生产商品的最大组合2.学校里一块新停车场的机会成本是（ C ）A.由此引发的所有费用B.由用于建造停车场的机器设备的折旧大小决定C. 由用于其他用途产生的最大价值决定D.由在停车场停车所需的费用来决定3.下列有关无差异曲线的特点说法正确的是（ A ）A. 无差异曲线的斜率为负值B. 同一平面中，两条无差异曲线可能会相交于一点C. 无差异曲线向右上方倾斜，并凸向原点D.离原点越远，无差异曲线代表的效用水平越小4. 如果商品A和B是替代的，则A的价格下降将造成（ D ）A.A的需求曲线向右移动B.A的需求曲线向左移动B.B的需求曲线向右移动D.B的需求曲线向左移动5.两种商品中若其中的一种价格变化时，这两种商品的购买量同时增加或减少，则这两种商品的交叉价格弹性系数为（ A ）A.负B.正C. 零D. 16.市场均衡要求（ D ）A.政府平衡供求双方的力量B.价格与数量相等C.价格保持不变D.在某一价格水平上，买者想要购买的数量恰好等于卖者想卖的数量7. 当总效用增加时，边际效用应该（ C ）A.为正值，并其值不断增加B. 为负值，并其值不断减少C.为正值，并其值不断减少D. 以上任何一种情况都有可能8.当生产函数Q=f （ L，K ）的APL为递减时，则MPL（ D ）。

A.递减且为正B.递减且为负C.为零D.上述情况都可能9.在以下四种情况中，哪一种实现了生产要素的最适组合：（ C ）A. MPK / PK<MPL/ PLB. MPK / PK>MPL / PLC. MPK / PK=MPL/ PLD. MPK / PK ≥MPL/ PL10.边际成本低于平均成本时（ B ）。

A.平均成本上升B.平均成本下降C.成本下降D.平均可变成本上升11.长期边际成本曲线呈U型的原因是（ A ）。

曼昆《经济学原理》(微观)第五版测试题库(05)Chapter 5 Elasticity and Its Application TRUE/FALSE 1. Elasticity measures how responsive quantity is to changes in : T DIF: 1 REF: 5-0 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Definitional 2. Measures of elasticity enhance our ability to study the magnitudes of : T DIF: 1 REF: 5-0 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Definitional 3. The demand for bread is likely to be more elastic than the demand for solid-gold bread : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive 4. In general, demand curves for necessities tend to be price : F DIF: 1 REF:5-1 LOC: Elasticity TOP: Price elasticity of demand 5. In general, demand curves for luxuries tend to be price : T DIF: 1 REF: 5-1 LOC: Elasticity TOP: Price elasticity of demand NAT: Analytic MSC: InterpretiveNAT: Analytic MSC: Interpretive 6. Necessities tend to have inelastic demands, whereas luxuries have elastic : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive7. Goods with close substitutes tend to have more elastic demands than do goods without close : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive8. The demand for Rice Krispies is more elastic than the demand for cereal in : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive9. The demand for soap is more elastic than the demand for Dove : FDIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive10. The demand for gasoline will respond more to a change in price over a period of five weeks than over a period of five : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive 11. Even the demand for a necessity such as gasoline will respond to a change in price, especially over a longer time : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive12. The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in : T DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Definitional13. The price elasticity of demand is defined as the percentage change in price divided by thepercentage change in quantity : F DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Definitional288 Chapter 5 /Elasticity and Its Application ? 289 14. Suppose that when the price rises by 20% for a particular good, the quantity demanded of that good falls by 10%. The price elasticity of demand for this good is equal to : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Analytical 15. Suppose that when the price rises by 10% for a particular good, the quantity demanded of that good falls by 20%. The price elasticity of demand for this good is equal to : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Analytical 16. If the price of calculators increases by 15 percent and the quantity demanded per week falls by 45 percent as a result,then the price elasticity of demand is : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Applicative17. Demand is inelastic if the price elasticity of demand is greater than : F DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Inelastic demand MSC: Definitional18. A linear, downward-sloping demand curve has a constant elasticity but a changing : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive19. Price elasticity of demand along a linear, downward-sloping demand curve increases as price : F DIF: 3 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive 20. If the price elasticity of demand is equal to 0, then demand is unit : F DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC:Definitional21. If the price elasticity of demand is equal to 1, then demand is unit : T DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Definitional22. Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small : F DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Inelastic demand MSC: Definitional23. The midpoint method is used to calculate elasticity between two points because it gives the same answer regardless of the direction of the : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Midpoint method MSC: Interpretive24. The flatter the demand curve that passes through a given point, the more inelastic the : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive25. Theflatter the demand curve that passes through a given point, the more elastic the : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Interpretive26. If demand is perfectly inelastic, the demand curve is vertical, and the price elasticity of demand equals : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Perfectly inelastic demand MSC: Interpretive27. If demand is perfectly elastic, the demand curve is horizontal, and the price elasticity of demand equals : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Perfectly elastic demand MSC: Interpretive290 ? Chapter 5 /Elasticity and Its Application 28. Along the elastic portion of a linear demand curve, total revenue rises as price : F DIF: 3 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Total revenue | Price elasticity of demand MSC: Interpretive29. If a firm is facing elastic demand, then the firm should decrease price to increase : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Total revenue | Price elasticity of demand MSC: Applicative 30. If a firm is facing inelastic demand, then the firm should decrease price to increase : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Total revenue | Price elasticity of demand MSC: Applicative31. When demand is inelastic, a decrease in price increases total : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Inelastic demand | Total revenue MSC: Interpretive32. The income elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in : T DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Income elasticity of demand MSC: Definitional 33. The income elasticity of demand isdefined as the percentage change in quantity demanded divided by the percentage change in : F DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Income elasticity of demand MSC: Definitional34. Normal goods have negative income elasticities of demand, while inferior goods have positive income elasticities of : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Income elasticity of demand MSC: Interpretive 35. If the income elasticity of demand for a good is negative, then the good must be an inferior : T DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Income elasticity of demand MSC: Interpretive36. If the cross-price elasticity of demand for two goods is negative, then the two goods are : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Interpretive37. If the cross-price elasticity of demand for twogoods is negative, then the two goods are : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Interpretive38. Cross-price elasticity of demand measures how the quantity demanded of one good changes as the price of another good : T DIF: 1 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Definitional39. Cross-price elasticity is used to determine whether goods are inferior or normal : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Interpretive40. Cross-price elasticity is used to determine whether goods are substitutes or : T DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Interpretive Chapter 5 /Elasticity and Its Application ? 291 41. The cross-price elasticity of garlic saltand onion salt is -2, which indicates that garlic salt and onion salt are : F DIF: 2 REF: 5-1 NAT: Analytic LOC: Elasticity TOP: Cross-price elasticity of demand MSC: Interpretive42. Price elasticity of supply measures how much the quantity supplied responds to changes in the : T DIF: 1 REF: 5-2 NAT: Analytic LOC: Elasticity TOP: Price elasticity of supply MSC: Definitional43. Supply and demand both tend to be more elastic in the long run and more inelastic in the short : T DIF: 2 REF: 5-1 | 5-2 NAT: Analytic LOC: Elasticity TOP: Price elasticities of demand and supply MSC: Interpretive 44. If the price elasticity of supply is 2 and the quantity supplied decreases by 6%, then the price must have decreased by 3%.ANS: T DIF: 2 REF: 5-2 NAT: Analytic LOC: Elasticity TOP: Price elasticity of supply MSC: Applicative 45. Supply is said to be inelastic if thequantity supplied responds substantially to changes in the price, and elastic if the quantity supplied responds only slightly to : F DIF: 1 REF: 5-2 NAT: Analytic LOC: Elasticity TOP: Price elasticity of supply MSC: Definitional46. Supply tends to be more elastic in the short run and more inelastic in the long : F DIF: 2 REF: 5-2 NAT: Analytic TOP: Price elasticity of supply MSC: Interpretive47. When the price of knee braces increased by 25 percent, the Brace Yourself Company increased its quantity supplied of knee braces per week by 75 percent. BYC’s price elasticity of supply of knee braces is : F DIF: 2 REF: 5-2 NAT: Analytic LOC: Elasticity TOP: Price elasticity of supply MSC: Applicative 48. If a supply curve is horizontal, then supply is said to be perfectly elastic, and the price elasticity of supply approaches : T DIF: 2 REF: 5-2 NAT:Analytic LOC: Elasticity TOP: Perfectly elastic supply MSC: Interpretive49. A government program that reduces land under cultivation hurts farmers but helps : F DIF: 2 REF: 5-3 NAT: Analytic LOC: Elasticity TOP: Total revenue MSC: Applicative50. OPEC failed to maintain a high price of oil in the long run, partly because both the supply of oil and the demand for oil are more elastic in the long run than in the short : T DIF: 2 REF: 5-3 NAT: Analytic LOC: Elasticity TOP: OPEC | Price elasticity of demand | Price elasticity of supply MSC: Applicative51. Drug interdiction, which reduces the supply of drugs, may decrease drug-related crime because the demand for drugs is : F DIF: 2 REF: 5-3 NAT: Analytic LOC: Elasticity TOP: Price elasticity of demand MSC: Applicative292 ? Chapter 5 /Elasticity and Its ApplicationSHORT ANSWER1. Consider the following pairs of goods. For which of the two goods would you expect the demand to be more price elastic? Why? a. water or diamonds b. insulin or nasal decongestant spray c. food in general or breakfast cereal d. gasoline over the course of a week or gasoline over the course of a year e. personal computers or IBM personal computers ANS: a. Diamonds are luxuries, and water is a necessity. Therefore, diamonds have the more elastic demand. b. Insulin has no close substitutes, but decongestant spray does. Therefore, nasal decongestant spray has the more elastic demand. c. Breakfast cereal has more substitutes than does food in general. Therefore, breakfast cereal has the more elastic demand.d. The longer the time period, the more elastic demand is. Therefore, gasoline over the course of a year has the moreelastic demand. e. There are more substitutes for IBM personal computers than there are for personal computers. Therefore, IBM personal computers have the more elastic demand. DIF: 2 REF: 5-1 TOP: Price elasticity of demand NAT: Analytic MSC: Applicative LOC: ElasticityChapter 5 /Elasticity and Its Application ? 293 2. You own a small town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who took an economics course in college tells you that there may be a way to increase your total revenue. Given the demand curves shown, answer the following questions. 10987654321102030405060708090100Qu antityPriceAdult Demand 10987654321510152025303540455055606570QuantityPriceChild Demanda. b. c. d.e. f. What is your current total revenue for both groups? The elasticity of demand is more elastic in which market? Which market has the more inelastic demand? What is the elasticity of demand between the prices of $5 and $2 in the adult market? Is this elastic or inelastic? What is the elasticity of demand between $5 and $2 in the children’s market? Is this elastic or inelastic? Given the graphs and what your friend knows about economics, he recommends you increase the price of adult tickets to $8 each and lower the price of a child’s ticket to $3. How much could you increase total revenue if you take his advice? ANS: a. Total revenue from children’s tickets is $100 and from adult tickets is $250. Total revenue from all sales would be $350. b. The demand for children’s tickets is moreelastic. c. The adult ticket market has the more inelastic demand. d. The elasticity of demand between $5 and $2 is , which is inelastic. e. The elasticity of demand between $5 and $2 is , which is unit elastic. f. Total revenue in the adult market would be $320. Total revenue in the children’s market would be $120, so total revenue for both groups would be $440. $440 - $350 is an increase in total revenue of $90. DIF: 2 REF: 5-1 NAT: Analytic TOP: Price elasticity of demand | Total revenue LOC: Elasticity MSC: Applicative 294 ? Chapter 5 /Elasticity and Its Application 3. Use the graph shown to answer the following questions. Put the correct letter(s) in the blank. APriceBDemandCQuantity a.b. c. d. The elastic section of the graph is represented by section from _______. The inelastic section of the graphis represented by section from _______. The unit elastic section of the graph is represented by section _______. The portion of the graph in which a decrease in price would cause total revenue to fall would be from _________. e. The portion of the graph in which a decrease in price would cause total revenue to rise would be from _________. f. The portion of the graph in which a decrease in price would not cause a change in total revenue would be _________. g. The section of the graph in which total revenue would be at a maximum would be _______. h. The section of the graph in which elasticity is greater than 1 is _______. i. The section of the graph in which elasticity is equal to 1 is ______. j. The section of the graph in which elasticity is less than 1 is _______.A toB B toC B B to C A to B B B A to BB B toC LOC: Elasticity MSC:Applicative ANS: a. b. c. d. e. f.g. h. i. j. DIF: 2 REF: 5-1 NAT: Analytic TOP: Price elasticity of demand | Total revenue Chapter 5 /Elasticity and Its Application ? 295 4. Using the midpoint method, compute the elasticity of demand between points A and B. Is demand along this portion of the curve elastic or inelastic? Interpret your answer with regard to price and quantity demanded. Now compute the elasticity of demand between points B and C. Is demand along this portion of the curve elastic or inelastic? Price222018161412108642CBADemand1 00200300400500600700800900QuantityA NS: In the section of the demand curve from A to B, the elasticity of demand would be This would be an elastic portion of the curve. This would mean that for every 1 percent change in price, quantity demanded would change bypercent. In the section of the demand curve from B to C, the elasticity of demand would be .75. This would be an inelastic portion of the curve. This would mean that for every 1 percent change in price, quantity demanded would change by percent.DIF: 2 REF: 5-1 TOP: Price elasticity of demand 5. NAT: Analytic MSC: Applicative LOC: Elasticity When the Shaffers had a monthly income of $4,000, they usually ate out 8 times a month. Now that the couple makes $4,500 a month, they eat out 10 times a month. Compute the couple’s income elasticity of demand using the midpoint method. Explain your answer. (Is a restaurant meal a normal or inferior good to the couple?)ANS: The income elasticity of demand for the Shaffers is Since the income elasticity of demand is positive, eating out would be interpreted as a normal good.DIF: 2 REF: 5-1 TOP:Income elasticity of demand 6. NAT: Analytic MSC: Applicative LOC: Elasticity Recently, in Smalltown, the price of Twinkies fell from $ to $ As a result, the quantity demanded of Ho-Ho’s decreased from 120 to 100. What would be the appropriate elasticity to compute? Using the midpoint method, compute this elasticity. What does your answer tell you?ANS: The appropriate elasticity to compute would be cross-price elasticity. The cross-price elasticity for this example would be The two goods are substitutes because the cross-price elasticity is positive.DIF: 2 REF: 5-1 TOP: Cross-price elasticity of demand NAT: Analytic MSC: Applicative LOC: Elasticity 296 ? Chapter 5 /Elasticity and Its Application Sec00 - Elasticity and Its Application MULTIPLE CHOICE1. In general, elasticity is a measure of a. the extentto which advances in technology are adopted by producers. b. the extent to which a market is competitive. c. how firms’profits respond to changes in market prices. d. how much buyers and sellers respond to changes in market conditions. DIF: 1 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Definitional ANS: D NAT: Analytic 2. Elasticity is a. a measure of how much buyers and sellers respond to changes in market conditions. b. the study of how the allocation of resources affects economic well-being. c. the maximum amount that a buyer will pay for a good.d. the value of everything a seller must give up to produce a good. DIF: 1 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Definitional ANS: A NAT: Analytic 3. When studying how some event or policyaffects a market, elasticity provides information on the a. equity effects on the market by identifying the winners and losers. b. magnitude of the effect on the market. c. speed of adjustment of the market in response to the event or policy.d. number of market participants who are directly affected by the event or policy. DIF: 2 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Interpretive ANS: B NAT: Analytic 4. How does the concept of elasticity allow us to improve upon our understanding of supply and demand? a. Elasticity allows us to analyze supply and demand with greater precision than would be the case in the absence of the elasticity concept. b. Elasticity provides us with a better rationale for statements such as “an increase in x will lead to a decrease in y” than we would have in the absence of the elasticityconcept. c. Without elasticity, we would not be able to address the direction in which price is likely to move in response to a surplus or a shortage. d. Without elasticity, it is very difficult to assess the degree of competition within a market. DIF: 2 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Interpretive ANS: A NAT: Analytic 5. When consumers face rising gasoline prices, they typically a. reduce their quantity demanded more in the long run than in the short run. b. reduce their quantity demanded more in the short run than in the long run. c. do not reduce their quantity demanded in the short run or the long run. d. increase their quantity demanded in the short run but reduce their quantity demanded in the long run. DIF: 2 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Applicative ANS: A NAT:Analytic 6. A 10 percent increase in gasoline prices reduces gasoline consumption by about a. 6 percent after one year and percent after five years. b. percent after one year and 6 percent after five years. c. 10 percent after one year and 20 percent after five years. d. 0 percent after one year and 1 percent after five years. DIF: 2 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Applicative ANS: B NAT: Analytic Chapter 5 /Elasticity and Its Application ? 297 7. Which of the following statements about the consumers’responses to rising gasoline prices is correct? a. About 10 percent of the long-run reduction in quantity demanded arises because people drive less and about 90 percent arises because they switch to more fuel-efficient cars. b. About 90 percent of the long-run reduction in quantity demanded arises becausepeople drive less and about 10 percent arises because they switch to more fuel-efficient cars. c. About half of the long-run reduction in quantity demanded arises because people drive less and about half arises because they switch to more fuel-efficient cars. d. Because gasoline is a necessity, consumers do not decrease their quantity demanded in either the short run or the long run. DIF: 2 LOC: Elasticity REF: 5-0 TOP: Elasticity MSC: Applicative ANS: C NAT: Analytic Sec01 - Elasticity and Its Application - The Elasticity of Demand MULTIPLE CHOICE1. The price elasticity of demand measures how much a. quantity demanded responds to a change in price. b. quantity demanded responds to a change in income. c. price responds to a change in demand. d. demand responds to a change in supply. DIF: 1 LOC:Elasticity ANS: A NAT: Analytic MSC: Definitional2. REF: 5-1 TOP: Price elasticity of demand The price elasticity of demand measures a. buyers’responsiveness to a change in the price of a good. b. the extent to which demand increases as additional buyers enter the market. c. how much more of a good consumers will demand when incomes rise. d. the movement along a supply curve when there is a change in demand. DIF: 1 LOC: Elasticity ANS: A NAT: Analytic MSC: Definitional3. REF: 5-1 TOP: Price elasticity of demand The price elasticity of demand for a good measures the willingness of a. consumers to buy less of the good as price rises.b. consumers to avoid monopolistic markets in favor of competitive markets.c. firms to produce more of a good as price rises.d. firms to cater to the tastes ofconsumers. DIF: 1 LOC: Elasticity ANS: A NAT: Analytic MSC: Interpretive4. REF: 5-1 TOP: Price elasticity of demand Which of the following statements about the price elasticity of demand is correct?a. The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases.b. Price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastes.c. Other things equal, if good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good y.d. All of the above are correct. DIF: 2 LOC: Elasticity ANS: D NAT: Analytic MSC: Interpretive REF: 5-1 TOP: Price elasticity of demand308 ? Chapter 5 /Elasticity and Its Application Figure 5-2 PricePaPbD1D3D2Quantity59. Refer to Figure 5-2. As price falls from Pa to Pb, which demand curve represents the most elastic demand? a. D1 b. D2 c. D3 d. All of the above are equally elastic. ANS: A NAT: Analytic MSC: Applicative DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 60. Refer to Figure 5-2. As price falls from Pa to Pb, we could use the three demand curves to calculate three different values of the price elasticity of demand. Which of the three demand curves would produce the smallest elasticity? a. D1 b. D2 c. D3 d. All of the above are equally elastic. ANS: C NAT: Analytic MSC: Applicative DIF: 2 LOC:Elasticity REF: 5-1 TOP: Price elasticity of demand Table 5-1 Good Price Elasticity of Demand A B 61. Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-2? a. A is a luxury and B is a necessity. b. A is a good several years after a price increase, and B is that same good several days after the price increase. c. A is a Kit Kat bar and B is candy. d. A has fewer substitutes than B. ANS: D NAT: Analytic MSC: Analytical DIF: 3 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand Chapter 5 /Elasticity and Its Application ? 309 62. Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-2? 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 carswere invented. d. A is diamond necklaces and B is beds. ANS: C NAT: Analytic MSC: Analytical DIF: 3 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 63. Studies indicate that the price elasticity of demand for cigarettes is about A government policy aimed at reducing smoking changed the price of a pack of cigarettes from $2 to $6. According to the midpoint method, the government policy should have reduced smoking by a. 30%. b. 40%. c. 80%. d. 250%. ANS: B NAT: Analytic MSC: Applicative DIF: 3 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 64. If a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is a. b. c. d. ANS: C NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1TOP: Price elasticity of demand 65. If a 20% increase in price for a good results in a 15% decrease in quantity demanded, the price elasticity of demand is a. b. c. d. ANS: A NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 66. If a 10% decrease in price for a good results in a 20% increase in quantity demanded, the price elasticity of demand is a. b. 1. c. d. 2. ANS: D NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 67. If a 6% decrease in price for a good results in a 2% increase in quantity demanded, the price elasticity of demand is a. b.c. 3.d. 4. ANS: B NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 310 ?Chapter 5 /Elasticity and Its Application 68. Suppose that quantity demand rises by 10% as a result of a 15% decrease in price. The price elasticity of demand for this good is a. inelastic and equal to b. elastic and equal to c. inelastic and equal to d. elastic and equal to ANS: A NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 69. Suppose that quantity demand falls by 30% as a result of a 5% increase in price. The price elasticity of demand for this good is a. inelastic and equal to 6. b. elastic and equal to 6. c. inelastic and equal to d. elastic and equal to ANS: B NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand Table 5-2 The following table shows a portion of the demand schedule for aparticular good at various levels of income. Price $24 $20 $16 $12 $8 $4 Quantity Demanded (Income = $5,000) 2 4 6 8 10 12 Quantity Demanded (Income = $7,500) 3 6 9 12 15 18 Quantity Demanded (Income = $10,000) 4 8 12 16 20 24 70. Refer to Table 5-2. Using the midpoint method, when income equals $7,500, what is the price elasticity of demand between $16 and $20? a. b. c. d. ANS: D NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand 71. Refer to Table 5-2. Using the midpoint method, when income equals $5,000, what is the price elasticity of demand between $8 and $12? a. b. c. d. ANS: A NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Price elasticity of demand Chapter 5 /Elasticity and Its Application ?311 72. Refer to Table 5-2. Using the midpoint method, at a price of $16, what is the income elasticity of demand when income rises from $5,000 to $10,000?a. b. c. d. ANS: C NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Income elasticity of demand 73. Refer to Table 5-2. Using the midpoint method, at a price of $8, what is the income elasticity of demand when income rises from $7,500 to $10,000? a.b. c. d. ANS: C NAT: Analytic MSC: Analytical DIF: 2 LOC: Elasticity REF: 5-1 TOP: Income elasticity of demand 74. Refer to Table 5-2. Using the midpoint method, at a price of $12, what is the income elasticity of demand when income rises from $5,000 to $10,000? a.b. c. d. ANS: C NAT: Analytic MSC: Analytical DIF: 2。

问题与应用‎1．描写下列每‎种情况所面‎临的权衡取‎舍：A．一个家庭决‎定是否买一‎辆新车。

答：如果买新车‎就要减少家‎庭其他方面‎的开支，如：外出旅行，购置新家具‎；如果不买新‎车就享受不‎到驾驶新车‎外出的方便‎和舒适。

B．国会议员决‎定对国家公‎园支出多少‎。

答：对国家公园‎的支出数额‎大，国家公园的‎条件可以得‎到改善，环境会得到‎更好的保护‎。

但同时，政府可用于‎交通、邮电等其他‎公共事业的‎支出就会减‎少。

C．一个公司总‎裁决定是否‎新开一家工‎厂。

答：开一家新厂‎可以扩大企‎业规模，生产更多的‎产品。

但可能用于‎企业研发的‎资金就少了‎。

这样，企业开发新‎产品、利用新技术‎的进度可能‎会减慢。

D．一个教授决‎定用多少时‎间备课。

0答：教授若将大‎部分时间用‎于自己研究‎，可能会出更‎多成果，但备课时间‎减少影响学‎生授课质量‎。

E．一个刚大学‎毕业的学生‎决定是否去‎读研究生。

答：毕业后参加‎工作，可即刻获取‎工资收入；但继续读研‎究生，能接受更多‎知识和未来‎更高收益。

2．你正想决定‎是否去度假‎。

度假的大部‎分成本((机票、旅馆、放弃的工资‎))都用美元来‎衡量，但度假的收‎益是心理的‎。

你将如何比‎较收益与成‎本呢??答：这种心理上‎的收益可以‎用是否达到‎既定目标来‎衡量。

对于这个行‎动前就会作‎出的既定目‎标，我们一定有‎一个为实现‎目标而愿意‎承担的成本‎范围。

在这个可以‎承受的成本‎范围内，度假如果满‎足了既定目‎标，如：放松身心、恢复体力等‎等，那么，就可以说这‎次度假的收‎益至少不小‎于它的成本‎。

3．你正计划用‎星期六去从‎事业余工作‎，但一个朋友‎请你去滑雪‎。

去滑雪的真‎实成本是什‎么？现在假设你‎已计划这天‎在图书馆学‎习，这种情况下‎去滑雪的成‎本是什么？请解释之。

答：去滑雪的真‎实成本是周‎六打工所能‎赚到的工资‎，我本可以利‎用这段时间‎去工作。

如果我本计‎划这天在图‎书馆学习，那么去滑雪‎的成本是在‎这段时间里‎我可以获得‎的知识。

曼昆《经济学原理》（微观）第五版测试题库（14）（1）Chapter 14Firms in Competitive MarketsTRUE/FALSE1. For a firm operating in a perfectly competitive industry, total revenue, marginal revenue, and average revenue are all equal.ANS: F DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Average revenue | Marginal rev-enueMSC: Interpretive2. For a firm operating in a perfectly competitive industry, marginal reve-nue and average revenue are equal.ANS: T DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Average revenue | Marginal rev-enueMSC: Interpretive3. If a firm notices that its average revenue equals the current market price, that firm must be participating in a competitive market.ANS: F DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Average revenueMSC: Interpretive4. A profit-maximizing firm in a competitive market will increase produc-tion when average revenue exceeds marginal cost. ANS: T DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Average revenueMSC: Interpretive5. Because there are many buyers and sellers in a perfectly competitive market, no one seller can influence the market price. ANS: T DIF: 1 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Definitional6. Firms operating in perfectly competitive markets try to maximize prof-its.ANS: T DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Profit maximization929MSC: Applicative7. In competitive markets, firms that raise their prices are typically re-warded with larger profits.ANS: F DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive8. When an individual firm in a competitive market increases its produc-tion, it is likely that the market price will fall. ANS: F DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive9. In a competitive market, firms are unable to differentiate their product from that of other producers.ANS: T DIF: 1 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive10. Firms in a competitive market are said to be price takers because there are many sellers in the market and the goods offered by the firms are very similar if not identical.ANS: T DIF: 2 REF: 14-1 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive11. A firm's incentive to compare marginal revenue and marginal cost is an application of the principle that rational people think at the margin. ANS: T DIF: 1 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive12. By comparing the marginal revenue and marginal cost from each unit produced, a firm in a competitive market can determine the profit-maximizing level of production.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretiveword⽂档可⾃由复制编辑Chapter 14/Firms in Competitive Markets 931 13. Firms operating in perfectly competitive markets produce an output level where marginal revenue equals marginal cost.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Marginal revenueMSC: Applicative14. A firm is currently producing 100 units of output per day. The man-ager reports to the owner that producing the 100th unit costs the firm $5. The firm can sell the 100th unit for $4.75. The firm should continue to pro-duce 100 units in order to maximize its profits (or minimize its losses). ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Analytical15. A firm is currently producing 100 units of output per day. The man-ager reports to the owner that producing the 100th unit costs the firm $5. The firm can sell the 100th unit for $5. The firm should continue to produce 100 units in order to maximize its profits (or minimize its losses).ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Analytical16. A firm is currently producing 100 units of output per day. The man-ager reports to the owner that producing the 100th unit costs the firm $5. The firm can sell the unit for $6. The firm should produce more than 100 units in order to maximize its profits (or minimize its losses).ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Analytical17. A dairy farmer must be able to calculate sunk costs in order to deter-mine how much revenue the farm receives for the typical gallon of milk. ANS: F DIF: 1 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Sunk costs MSC: I nterpretive18. Because nothing can be done about sunk costs, they are irrelevant to decisions about business strategy.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Sunk costs MSC: I nterpretive19. A miniature golf course is a good example of where fixed costs be-come relevant to the decision of when to open and when to close for the season.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Sunk costs MSC: I nterpretive20. A popular resort restaurant will maximize profits if it chooses to stay open during the less-crowded “off season” when its total revenues exceed its variable costs.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Sunk costs MSC: I nterpretive21. All firms maximize profits by producing an output level where marginal revenue equals marginal cost; for firms operating in perfectly competitive in-dustries, maximizing profits also means producing an output level where price equals marginal cost.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive22. A firm operating in a perfectly competitive industry will continue to op-erate in the short run but earn losses if the market price is less than that firm’s average total cost but greater than the firm’s average variable cost. ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretive23. A firm operating in a perfectly competitive industry will continue to op-erate in the short run but earn losses if the market price is less than that firm’s average variable co st.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretive24. A firm operating in a perfectly competitive industry will shut down in the short run but earn losses if the market price is less than that firm’s aver-age variable cost.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretiveword⽂档可⾃由复制编辑Chapter 14/Firms in Competitive Markets 933 25. In the short run, a firm should exit the industry if its marginal cost ex-ceeds its marginal revenue.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretive26. In making a short-run profit-maximizing production decision, the firm must consider both fixed and variable cost. ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive27. A firm will shut down in the short run if revenue is not sufficient to cov-er its variable costs of production.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Shut down MSC: I nterpretive28. Suppose a firm is considering producing zero units of output. We call this shutting down in the short run and exiting an industry in the long run. ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Shut down MSC: I nterpretive29. Suppose a firm is considering producing zero units of output. We call this exiting an industry in the short run and shutting down in the long run. ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Shut down MSC: I nterpretive30. A firm will shut down in the short run if revenue is not sufficient to cov-er all of its fixed costs of production.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Shut down MSC: I nterpretive31. The supply curve of a firm in a competitive market is the average va-riable cost curve above the minimum of marginal cost.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretive32. When a profit-maximizing firm in a competitive market experiences rising prices, it will respond with an increase in production.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive33. The marginal firm in a competitive market will earn zero economic profit in the long run.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Economic profitMSC: Interpretive34. A profit-maximizing firm in a competitive market will earn zero ac-counting profits in the long run.ANS: F DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Accounting profitMSC: Interpretive35. In the long run, when price is less than average total cost for all possi-ble levels of production, a firm in a competitive market will choose to exit (or not enter) the market.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive36. In the long run, when price is greater than average total cost, some firms in a competitive market will choose to enter the market.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive37. In the long run, a firm should exit the industry if its total costs exceed its total revenues.ANS: T DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximizationMSC: Interpretive38. When a resource used in the production of a good sold in a competi-tive market is available in only limited quantities, the long-run supply curve is likely to be upward sloping.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretiveword⽂档可⾃由复制编辑Chapter 14/Firms in Competitive Markets 935 39. A firm operating in a perfectly competitive industry will continue to op-erate if it earns zero economic profits because it is likely to be earning posi-tive accounting profits.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive40. A firm operating in a perfectly competitive industry will shut down in the short run if its economic profits fall to zero because it is likely to be earn-ing negative accounting profits.ANS: F DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Competitive marketsMSC: Interpretive41. A firm operating in a perfectly competitive market may earn positive, negative, or zero economic profit in the long run. ANS: F DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Long-run supply curveMSC: Interpretive42. A firm operating in a perfectly competitive market may earn positive, negative, or zero economic profit in the short run. ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Long-run supply curveMSC: Interpretive43. A firm operating in a perfectly competitive market earns zero economic profit in the long run but remains in business because the firm’s revenues cover the business owners’ opportunity costs.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive44. A competitive market will typically experience entry and exit until ac-counting profits are zero.ANS: F DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive45. The long-run equilibrium in a competitive market characterized by firms with identical costs is generally characterized by firms operating at effi-cient scale.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive46. In the long run, a competitive market with 1,000 identical firms will ex-perience an equilibrium price equal to the minimum of each firm's average total cost.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive47. In a long-run equilibrium where firms have identical costs, it is possible that some firms in a competitive market are making a positive economic prof-it.ANS: F DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive48. When economic profits are zero in equilibrium, the firm's revenue must be sufficient to cover all opportunity costs. ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Zero-profit conditionMSC: Interpretive49. The short-run supply curve in a competitive market must be more elastic than the long-run supply curve.ANS: F DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: Interpretive50. The long-run supply curve in a competitive market is more elastic than the short-run supply curve.ANS: T DIF: 2 REF: 14-3 NAT: AnalyticLOC: Perfect competition TOP: Supply curveMSC: InterpretiveSHORT ANSWERword⽂档可⾃由复制编辑Chapter 14/Firms in Competitive Markets 937 1. Describe the difference between average revenue and marginal reve-nue. Why are both of these revenue measures important to a prof-it-maximizing firm?ANS:Average revenue is total revenue divided by the quantity of output. Marginal revenue is the change in total revenue from the sale of each additional unit of output. Marginal revenue is used to determine the profit-maximizing level of production, and average revenue is used to help determine the level of profits. Note that for all firms, price equals average revenue because AR=(PxQ)/Q=P. But only for a firm operating in a perfectly competitive industry does price al-so equal marginal revenue.DIF: 2 REF: 14-1 NAT: Analytic LOC: Perfect competitionTOP: Price MSC: D efinitional2. List and describe the characteristics of a perfectly competitive market. ANS:There are many buyers and sellers in the market. The goods offered by the various sellers are largely the same. Firms can freely enter or exit the market. DIF: 2 REF: 14-1 NAT: Analytic LOC: Perfect competitionTOP: Competitive markets MSC: D efinitional3. Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price? If a firm set its price below the current market price, what effect would this have on the market?ANS:The firm could not sell any more of its product at a lower price than it could sell at the market price. As a result, it would needlessly forgo revenue if it set a price below the market price. If the firm set a higher price, it would not sell anything at all because a competitive market has many sellers who would supply the product at the market price.DIF: 2 REF: 14-1 NAT: Analytic LOC: Perfect competitionTOP: Profit maximization MSC: A nalytical4. Use a graph to demonstrate the circumstances that would prevail in a competitive market where firms are earning economic profits. Can this sce-nario be maintained in the long run? Explain your answer.ANS:In a competitive market where firms are earning economic profits, new firms will have an incentive to enter the market. This entry will expand the number of firms, increase the quantity of the good supplied, and drive down pricesword ⽂档可⾃由复制编辑 and profits. Entry will cease once firms are producing the output level where price equals the minimum of the average total cost curve, meaning that eachfirm earns zero economic profits in the long run.DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximization MSC: A nalytical5. Explain how a firm in a competitive market identifies the prof-it-maximizing level of production. When should the firm raise production, and when should the firm lower production? ANS:The firm selects the level of output at which marginal revenue is equal tomarginal cost. If MR > MC, profit will increase if the firm increases Q. If MR < MC, profit will increase if the firm decreases Q. DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximization MSC: A nalytical6. News reports from the western United States occasionally report inci-dents of cattle ranchers slaughtering a large number of newborn calves and burying them in mass graves rather than transporting them to markets. As-suming that this is rational behavior by profit-maximizing "firms," explain what economic factors may influence such behavior.ANS:If the selling price is not sufficient to cover the variable cost of sending the calves to market, this (potentially emotionally upsetting) behavior makes economic sense.DIF: 2 REF: 14-2 NAT: AnalyticLOC: Perfect competition TOP: Profit maximization MSC: A nalytical。

5学原理》（微观）第五版测试题库第一章：经济学原理1.经济学的主要研究对象是什么？2.什么是稀缺性原则？3.请解释机会成本是如何计算的。

4.什么是边际分析原理？5.请解释机会成本递增的概念。

第二章：供求和市场机制1.什么是需求曲线？2.请解释需求量和需求曲线之间的区别。

3.供给曲线如何表示？4.请解释市场均衡的概念。

5.什么是价格弹性？第三章：消费者行为1.什么是边际效用？2.请解释效用最大化的概念。

3.什么是收入效应？4.请解释替代效应和收入效应如何影响需求变化。

5.什么是边际替代率？第四章：生产和成本1.请解释生产函数的概念。

2.什么是边际产品？3.请解释固定成本和可变成本之间的区别。

4.什么是边际成本？5.请解释长期平均成本和短期平均成本之间的区别。

第五章：利润、市场结构和行为1.请解释利润最大化的概念。

2.什么是垄断市场？3.请解释寡头垄断和垄断竞争之间的区别。

4.什么是欧元区？5.请解释价格歧视的概念。

第六章：劳动市场1.什么是劳动力市场？2.请解释劳动需求和劳动供给之间的关系。

3.什么是劳动力市场均衡？4.请解释工资刚性的概念。

5.什么是人力资本？以上是《5学原理》（微观）第五版的测试题库，涵盖了经济学原理、供求和市场机制、消费者行为、生产和成本、利润、市场结构和行为以及劳动市场等多个方面的知识点。

在准备考试或者复习课程内容时，使用这些题目进行测试可以帮助您巩固知识，检验自己的学习成果。

祝您取得好成绩！。

曼昆《经济学原理》（宏观）第五版测试题库（30）Chapter 30Money Growth and InflationTRUE/FALSE1. The inflation rate is measured as the percentage change in a price index.ANS: T DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationKEY: MSC: Definitional2. U.S. prices rose at an average annual rate of about 4 percent over the last 70 years.ANS: T DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: InflationMSC: Analytical3. The United States has never had deflation.ANS: F DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: DeflationMSC: Definitional4. In the 1990s, U.S. prices rose at about the same rate as in the 1970s.ANS: F DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: U.S. inflationMSC: Definitional5. As the price level falls, the value of money falls.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Value | MoneyMSC: Interpretive6. The price level is determined by the supply of, and demand for, money.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Definitional7. If the quantity of money supplied is greater than the quantity demanded, then prices should fall.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical8. Dollar prices and relative prices are both nominal variables.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of moneyTOP: Nominal variables | Real variables MSC: Definitional9. The quantity equation is M x V = P x Y.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity equationMSC: Definitional10. According to the Fisher effect, if inflation rises then the nominal interest rate rises.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Fisher effectMSC: Definitional11. An increase in money demand would create a surplus of money at the original value of money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Applicative201412. Hyperinflations are associated with governments printing money to finance expenditures.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: Unemployment and inflation TOP: HyperinflationMSC: Definitional13. For a given level of money and real GDP, an increase in velocity would lead to an increase in the price level. ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Velocity of moneyMSC: Analytical14. The quantity theory of money can explain hyperinflations but not moderate i nflation.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: HyperinflationMSC: Interpretive15. If P represents the price of goods and services measured in money, then 1/P is the value of money measured interms of goods and services.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money | ValueMSC: Interpretive16. When the value of money is on the vertical axis, an increase in the price level shifts money demand to theright.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money demandMSC: Applicative17. The money supply curve shifts to the left when the Fed buys government bonds.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money supplyMSC: Analytical18. When the value of money is on the vertical axis, the money supply curve slopes upward because an increase in the value of money induces banks to create more money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money supplyMSC: Definitional19. If the Fed increases the money supply, the equilibrium value of money decreases and the equilibrium price level increases.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical20. A rising price level eliminates an excess supply of money.ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical21. A rising value of money eliminates an excess supply of money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical22. Nominal GDP measures output of final goods and services in physical terms.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Nominal variablesMSC: Interpretive2016 Chapter 30 /Money Growth and Inflation23. The classical dichotomy is useful for analyzing the economy because in the long run nominal variables are heavily influenced by developments in the monetary system, and real variables are not.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Classical dichotomyMSC: Definitional24. The irrelevance of monetary changes for real variables is called monetary neutrality. Most economists accept monetary neutrality as a good description of the economy in the long run, but not the short run.ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Monetary neutralityMSC: Interpretive25. The quantity theory of money implies that if output and velocity are constant, then a 50 percent increase in themoney supply would lead to less than a 50 percent increase in the price level.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity theoryMSC: Applicative26. The source of all four classic hyperinflations was high rates of money growth.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: HyperinflationMSC: Definitional27. In the long run, an increase in the growth rate of the money supply leads to an increase in the real interest rate,but no change in the nominal interest rate.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity theoryMSC: Definitional28. Inflation induces people to spend more resources maintaining lower money holdings. The costs of doing thisare called shoeleather costs.ANS: T DIF: 1 REF: 30-2NAT: Analytic LOC: The role of money TOP: Shoeleather costs of inflation MSC: Definitional29. Shoeleather costs and menu costs are both costs of anticipated inflation.ANS: T DIF: 1 REF: 30-2NAT: Analytic LOC: Unemployment and inflationTOP: Shoeleather costs of inflation | Menu costs o f inflation MSC: Definitional30. For a given real interest rate, an increase in the inflation rate reduces the after-tax real interest rate.ANS: T DIF: 2 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP:Inflation | Taxes | Real interest rate MSC: Analytical31. Inflation necessarily distorts saving when either real interest income or nominal interest income is taxed. ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Inflation | Real interest rate MSC: Interpretive32. Inflation distorts savings when real interest income, rather than nominal interest income, is taxed.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Inflation | Real interest rate MSC: Interpretive33. Suppose the nominal interest rate is 10 percent; the tax rate on interest income is 28 percent, and the inflationrate is 6 percent. Then the after-tax real interest rate is -3.2 percent.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Taxes | Real interest rateMSC: Interpretive34. Suppose the nominal interest rate is 5 percent; the tax rate on interest income is 30 percent, and the after-taxreal interest rate is 0.8 percent. Then the inflation rate is 2.7 percent.ANS: T DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Taxes | Real interest rate MSC: Interpretive35. If the Fed were to unexpectedly increase the money supply, creditors would gain at the expense of debtors. ANS: F DIF: 1 REF: 30-2NAT: Analytic LOC: The role of moneyTOP: Wealth redistribution | Inflation MSC: Applicative36. If inflation is higher than expected, then borrowers make nominal interest payments that are less than theyexpected.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP: Menu costs of inflationMSC: Applicative37. Inflation is costly only if it is unanticipated.ANS: F DIF: 1 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP: Inflation costsMSC: Interpretive38. Even though monetary policy is neutral in the short run, it may have profound real effects in the long run. ANS: F DIF: 1 REF: 30-3NAT: Analytic LOC: The role of money TOP: Monetary neutralityMSC: InterpretiveSHORT ANSWER1. Why did farmers in the late 1800s dislike deflation?ANS:Most had large nominal debts. The decrease in the price level meant that they received less for what they produced and so made it harder to pay off the debts whose real value rose as prices fell.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Deflation MSC: Analytical2. Explain the adjustment process in the money market that creates a change in the price level when the moneysupply increases.ANS:When the money supply increases, there is an excess supply of money at the original value of money. After the money supply increases, people have more money than they want to hold in their purses, wallets and checking accounts. They use this excess money to buy goods and services or lend it out to other people to buy goods and services. The increase in expenditures causes prices to rise and the value of money to fall. As the value of money falls, the quantity of money people want to hold increases so that the excess supply is eliminated. At the end of this process the money market is in equilibrium at a higher price level and a lower value of money.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical2018 Chapter 30 /Money Growth and Inflation3. Suppose the Fed sells government bonds. Use a graph of the money market to show what this does to the valueof money.ANS:When the Fed sells government bonds, the money supply decreases. This shifts the money supply curve from MS1 to MS2 and makes the value of money increase. Since money is worth more, it takes less to buy goods with it, which means the price level falls.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical4. Using separate graphs, demonstrate what happens to the money supply, money demand, the value of money,and the price level if:a. the Fed increases the money supply.b. people decide to demand less money at each value of money.ANS:a. The Fed increases the money supply. When the Fed increases the money supply, the money supply curveshifts right from MS1 to MS2. This shift causes the value of money to fall, so the price level rises.b. People decide to demand less money at each value of money. Since people want to hold less at eachvalue of money, it follows that the money demand curve will shift to the left from MD1 to MD2. Thedecrease in money demand results in a lower value of money and so a higher price level.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical5. According to the classical dichotomy, what changes nominal variables? What changes real variables? ANS:The classical dichotomy argues that nominal variables are determined primarily by developments in the monetary system such as changes in money demand and supply. Real variables are largely independent of the monetary system and are determined by productivity and real changes in the factor and loanable funds markets.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Classical dichotomyMSC: Definitional6. Suppose that monetary neutrality holds. Of the following variables, which ones do not change when themoney supply increases?a. real interest ratesb. inflationc. the price leveld. real outpute. real wagesf. nominal wagesANS:a. real interest ratesd. real outpute. real wagesDIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Monetary neutralityMSC: Interpretive7. Wages and prices are many times higher today than they were 30 years ago, yet people do not work a lot morehours or buy fewer goods. How can this be?ANS:Inflation has raised the general price level. An increase in the general price level has no effect on real variables in the long run. Wages are higher, but so are prices. Prices are higher, but so are wages and incomes. In the long run, people change their behavior in response to changes in real variables, not nominal ones.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Nominal variables | Real variablesMSC: Interpretive8. Identify each of the following as nominal or real variables.a. the physical output of goods and servicesb. the overall price levelc. the dollar price of applesd. the price of apples relative to the price of orangese. the unemployment ratef. the amount that shows up on your paycheck after taxesg. the amount of goods you can purchase with the wage you get each hourh. the taxes that you pay the governmentANS:a. real variableb. nominal variablec. nominal variabled. real variablee. real variablef. nominal variableg. real variableh. nominal variableDIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Nominal variables | Real variablesMSC: Interpretive2020 Chapter 30 /Money Growth and Inflation9. Define each of the symbols and explain the meaning o f M V = P Y.ANS:M is the quantity of money, V is the velocity of money, P is the price level, and Y is the quantity of o utput. P Y is nominal GDP. The amount people spend should equal the amount of money in the economy times the average number of times each unit of currency is spent.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Velocity MSC: Definitional10. What assumptions are necessary to argue that the quantity equation implies that increases in the money supplylead to proportional changes in the price level?ANS:We must suppose that V is relatively constant and that changes in the money supply have no effect on real output. DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Quantity theoryMSC: Definitional11. What is the inflation tax, and how might it explain the creation of inflation by a central bank?ANS:The inflation tax refers to the fact that inflation is a tax on money. When prices rise, the value of money currently held is reduced. Hence, when a government raises revenue by printing money, it obtains resources from households by taxing their money holdings through inflation rather than by sending them a tax bill. In countries where governments are unable or unwilling to raise revenues by raising taxes explicitly, the inflation tax may be an alternative source of revenue.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Inflation tax MSC: Interpretive12. Economists agree that increases in the money-supply growth rate increase inflation and that inflation isundesirable. So why have there been hyperinflations and how have they been ended?ANS:Typically, the government in countries that had hyperinflation started with high spending, inadequate tax revenue, and limited ability to borrow. Therefore, they turned to the printing presses to pay their bills. Massive and continued increases in the quantity of money led to hyperinflation, which ended when the governments instituted fiscal reforms eliminating the need for the inflation tax and subsequently slowed money supply growth.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: HyperinflationMSC: Interpretive13. Suppose that velocity and output are constant and that the quantity theory and the Fisher effect both hold.What happens to inflation, real interest rates, and nominal interest rates when the money supply growth rate increases from 5 percent to 10 percent?ANS:Inflation and nominal interest rates each increase by 5 percent points. There is no change in the real interest rate or any other real variable.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Inflation MSC: Analytical14. In recent years Venezuela and Russia have had much higher nominal interest rates than the United Stateswhile Japan has had lower nominal interest rates. What would you predict is true about money growth in these other countries? Why?ANS:The Fisher effect says that increases in the inflation rate lead to one-to-one increases in nominal interest rates. The quantity theory says that in the long run, inflation increases one-to-one with money supply growth. It follows that differences in nominal interest rates may be due to differences in money supply growth rates. It is reasonable to guess that much higher nominal interest rates in Venezuela and Russia indicate higher money supply growth while lower interest rates in Japan indicate lower money supply growth.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Fisher effect MSC: Applicative15. The U.S. Treasury Department issues inflation-indexed bonds. What are inflation-indexed bonds and why arethey important?ANS:Inflation-indexed bonds are bonds whose interest and principal payments are adjusted upward for inflation, guaranteeing their real purchasing power in the future. They are important because they provide a safe, inflation- proof asset for savers and they may allow the Treasury to borrow more easily at a lower current cost.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Index bonds MSC: Definitional16. List and define any two of the costs of high inflation.ANS:The costs include:Shoeleather costs: the resources wasted when inflation induces people to reduce their money holdings.Menu costs: the cost of more frequent price changes at higher inflation rates.Relative Price Variability: because prices change infrequently, higher inflation causes relative prices to vary more. Decisions based on relative prices are then distorted so that resources may not be allocated efficiently.Inflation Induced Tax Distortions: the income tax is not completely indexed for inflation; an increase in nominal income created by inflation results in higher real tax rates that discourage savings.Confusion and Inconvenience: inflation decreases the reliability of the unit of account making it more complicated to differentiate successful and unsuccessful firms thereby impeding the efficient allocation of funds to alternative investments.Unexpected Inflation: inflation decreases the real value of debt thereby transferring wealth from creditors to debtors. DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Inflation costsMSC: Definitional17. Inflation distorts relative prices. What does this mean and why does it impose a cost on society?ANS:Relative prices are the value of one good in terms of other goods. Relative prices ordinarily provide signals concerning therelative scarcity of goods so the goods may be allocated efficiently. Some prices change infrequently, so that when inflation rises, there is greater variation in relative prices. However, changes in relative prices created by inflation do not signal changes in the scarcity of goods and so lead to an inefficient allocation of goods and resources.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Relative price variabilityMSC: Interpretive18. Explain how inflation affects savings.ANS:Inflation discourages savings. Income tax is collected on nominal rather than real interest rates. So an increase in inflation will increase nominal interest rates and taxes. The increase in taxes in turn lowers the real return on savings and so discourages savings.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Saving | InflationMSC: Applicative2022 Chapter 30 /Money Growth and Inflation19. The U.S. Treasury Department began issuing inflation-indexed bonds in early 1997. Since these assets arevirtually risk free, both in terms of default risk and inflation risk, will they quickly replace all other kinds of assets that still entail risk of one kind or another, such as ordinary government bonds or corporate bonds?Explain.ANS:When individuals are choosing between assets of different kinds, they consider both expected return and risk. Because the new inflation-indexed bonds have very low risk, they will also have very low real interest rates. So they will not replace other, more risky assets that promise to pay a much higher real interest rate. They do, however, offer a way of escaping some inflation risk, and have become a popular addition to portfolios.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Index bonds MSC: AnalyticalSec00 - Money Growth and InflationMULTIPLE CHOICE1. Over the past 70 years, prices in the U.S. have risen on average abouta. 2 percent per year.b. 4 percent per year.c. 6 percent per year.d. 8 percent per year.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional2. Over the past 70 years, the overall price level in the U.S. has experienced a(n)a. 4-fold increase.b. 8-fold increase.c. 12-fold increase.d. 16-fold increase.ANS: D DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional3. Over the last 70 years, the average annual U.S. inflation rate was abouta. 2 percent, implying that prices have increased 10-fold.b. 4 percent, implying that prices have increased 10-fold.c. 2 percent, implying that prices have increased 16-fold.d. 4 percent, implying that prices increased about 16-fold.ANS: D DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional4. Inflation can be measured by thea. change in the consumer price index.b. percentage change in the consumer price index.c. percentage change in the price of a specific commodity.d. change in the price of a specific commodity.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationMSC: Definitional5. Which of the following is not correct?a. The inflation rate is measured as the percentage change in a price index.b. For the last 40 or so years, U.S. inflation hasn’t shown much variation from its average rate of about 2 percent.c. During the 19th century there were long periods of falling prices.d. Some economists argue that the costs of moderate inflation are not nearly as large as the general public believes.ANS: B DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationMSC: Interpretive6. In which of the following cases was the inflation rate 10 percent over the last year?a. One year ago the price index had a value of 110 and now it has a value of 120.b. One year ago the price index had a value of 120 and now it has a value of 132.c. One year ago the price index had a value of 126 and now it has a value of 140.d. One year ago the price index had a value of 145 and now it has a value of 163. ANS: B DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative7. If the price level increased from 120 to 126, then what was the inflation rate?a. 3 percentb. 5 percentc. 6 percentd. None of the above is correct.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative8. If the price level increased from 120 to 150, then what was the inflation rate?a. 30 percentb. 25 percentc. 20 percentd. None of the above is correct.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative9. When prices are falling, economists say that there isa. disinflation.b. deflation.c. a contraction.d. an inverted inflation.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: DeflationMSC: Definitional10. Deflationa. increases incomes and enhances the ability of debtors to pay off their debts.b. increases incomes and reduces the ability of debtors to pay off their debts.c. decreases incomes and enhances the ability of debtors to pay off their debts.d. decreases incomes and reduces the ability of debtors to pay off their debts. ANS: D DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: DeflationMSC: Interpretive。

5学原理》（微观）第五版测试题库（04）曼昆经济学原理第五版测试题库（微观）Chapter 4The Market Forces of Supply and DemandTRUE/FALSE1. Prices allocate a market economy’s scarce resources.ANS: T DIF: 1 REF: 4-0NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Market economies MSC: Definitional2. In a market economy, supply and demand determine both the quantity of each good produced and the price atwhich it is sold.ANS: T DIF: 1 REF: 4-0NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Market economies MSC: Definitional3. A market is a group of buyers and sellers of a particular good or service.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Markets MSC: Definitional4. Sellers as a group determine the demand for a product, and buyers as a group determine the supply of aproduct.ANS: F DIF: 1 REF: 4-1NAT: Analytic LOC: Supply and demand TOP: Demand | SupplyMSC: Definitional5. A yard sale is an example of a market.ANS: T DIF: 2 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Markets MSC: Applicative6. A newspaper’s classified ads are an example of a market.ANS: T DIF: 2 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Markets MSC: Applicative7. Most markets in the economy are highly competitive.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Markets MSC: Definitional8. In a competitive market, the quantity of each good produced and the price at which it is sold are not determined by any single buyer or seller.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Competitive markets MSC: Definitional9. In a competitive market, there are so few buyers and so few sellers that each has a significant impact on the market price.ANS: F DIF: 1 REF: 4-1NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Competitive markets MSC: Definitional10. In a perfectly competitive market, the goods offered for sale are all exactly the same.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Perfect competition TOP: Perfect competitionMSC: Definitional20211. In a perfectly competitive market, buyers and sellers are price setters.ANS: F DIF: 1 REF: 4-1NAT: Analytic LOC: Perfect competition TOP: Perfect competitionMSC: Definitional12. All goods and services are sold in perfectly competitive markets.ANS: F DIF: 1 REF: 4-1NAT: Analytic LOC: Perfect competition TOP: Perfect competitionMSC: Definitional13. If a good or service has only one seller, then the seller is called a monopoly.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Monopoly TOP: Monopoly MSC: Definitional14. Monopolists are price takers.ANS: F DIF: 2 REF: 4-1NAT: Analytic LOC: Monopoly TOP: Monopoly MSC: Interpretive15. Local cable TV companies frequently are monopolists.ANS: T DIF: 1 REF: 4-1NAT: Analytic LOC: Monopoly TOP: Monopoly MSC: Definitional16. The quantity demanded of a product is the amount that buyers are willing and able to purchase at a particular price.ANS: T DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Quantity demandedMSC: Definitional17. The law of demand is true for most goods in the economy.ANS: T DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Law of demandMSC: Definitional18. The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls.ANS: F DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Law of demandMSC: Definitional19. The demand curve is the upward-sloping line relating price and quantity demanded.ANS: F DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Definitional20. Individual demand curves are summed horizontally to obtain the market demand curve.ANS: T DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Market demand curveMSC: Definitional21. The market demand curve shows how the total quantity demanded of a good varies as the income of buyers varies, while all the other factors that affect how much consumers want to buy are held constant.ANS: F DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Market demand curveMSC: Definitional22. If something happens to alter the quantity demanded at any given price, then the demand curve shifts. ANS: T DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Definitionalword⽂档可⾃由复制编辑204 Chapter 4 /The Market Forces of Supply and Demand23. A movement upward and to the left along a given demand curve is called a decrease in demand..ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Interpretive24. An increase in demand shifts the demand curve to the left.ANS: F DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Definitional25. If the demand for a good falls when income falls, then the good is called an inferior good.ANS: F DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Normal goodsMSC: Definitional26. When Mario's income decreases, he buys more pasta. For Mario, pasta is a normal good.ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Inferior goodsMSC: Applicative27. A decrease in income will shift the demand curve for an inferior good to the right.ANS: T DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Inferior goodsMSC: Interpretive28. An increase in the price of a substitute good will shift the demand curve for a good to the right.ANS: T DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: SubstitutesMSC: Interpretive29. Baseballs and baseball bats are substitute goods.ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: ComplementsMSC: Applicative30. A decrease in the price of a complement will shift the demand curve for a good to the left.ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: ComplementsMSC: Interpretive31. When an increase in the price of one good lowers the demand for another good, the two goods are called complements.ANS: T DIF: 1 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: ComplementsMSC: Definitional32. Cocoa and marshmallows are complements, so a decrease in the price of cocoa will cause an increase in the demand for marshmallows.MSC: Applicative33. If a pe rson expects the price of socks to increase next month, then that person’s current demand for socks will increase.ANS: T DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: ExpectationsMSC: Applicative34. A decrease in the price of a product and an increase in the number of buyers in the market affect the demandcurve in the same general way.ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Interpretive35. Whenever a determinant of demand other than price changes, the demand curve shifts.ANS: T DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Interpretive36. An increase in the price of pizza will shift the demand curve for pizza to the left.ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Applicative37. Public service announcements, mandatory health warnings on cigarette packages, and the prohibition ofcigarette advertising on television are all policies aimed at shifting the demand curve for cigarettes to the right. ANS: F DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: Demand curveMSC: Applicative38. Most studies have found that tobacco and marijuana are complements rather than substitutes.ANS: T DIF: 2 REF: 4-2NAT: Analytic LOC: Supply and demand TOP: ComplementsMSC: Applicative39. The quantity supplied of a good or service is the amount that sellers are willing and able to sell at a particularprice.ANS: T DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Quantity suppliedMSC: Definitional40. When the price of a good is high, selling the good is profitable, and so the quantity supplied is large.MSC: Definitional41. When the price of a good is low, selling the good is profitable, and so the quantity supplied is large. ANS: F DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Law of supplyMSC: Definitional42. Price cannot fall so low that some sellers choose to supply a quantity of zero.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Quantity suppliedMSC: Interpretive43. The law of supply states that, other things equal, when the price of a good rises, the quantity supplied of the good falls.ANS: F DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Law of supplyMSC: Definitional44. The law of supply states that, other things equal, when the price of a good falls, the quantity supplied falls as well.ANS: T DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Law of supplyMSC: Definitionalword⽂档可⾃由复制编辑206 Chapter 4 /The Market Forces of Supply and Demand45. If a higher price means a greater quantity supplied, then the supply curve slopes upward.ANS: T DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Definitional46. Individual supply curves are summed vertically to obtain the market supply curve.ANS: F DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Market supply curveMSC: Definitional47. The market supply curve shows how the total quantity supplied of a good varies as input prices vary, holding constant all the other factors that influence producers’ decisions about how much to sell.ANS: F DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Market supply curveMSC: Definitional48. If something happens to alter the quantity supplied at any given price, then we move along the fixed supply curve to a new quantity supplied.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Interpretive49. A movement along a supply curve is called a change in supply while a shift of the supply curve is called a change in quantity supplied.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply | Quantity supplied MSC: Interpretive50. A decrease in supply shifts the supply curve to the left.ANS: T DIF: 1 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Definitional51. A reduction in an input price will cause a change in quantity supplied, but not a change in supply.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Input pricesMSC: Interpretive52. An increase in the price of ink will shift the supply curve for pens to the left.ANS: T DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Input pricesMSC: Applicative53. If there is an improvement in the technology used to produce a good, then the supply curve for that good will shift to the left.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: TechnologyMSC: Interpretive54. Advances in production technology typically reduce firms’ costs.ANS: T DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: TechnologyMSC: Interpretive55. If a company making frozen orange juice expects the price of its product to be higher next month, it will supply more to the market this month.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: ExpectationsMSC: Applicative56. When a seller expects the price of its product to decrease in the future, the seller's supply curve shifts left now. ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: ExpectationsMSC: Interpretive57. An increase in the price of a product and an increase in the number of sellers in the market affect the supplycurve in the same general way.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Interpretive58. Whenever a determinant of supply other than price changes, the supply curve shifts.ANS: T DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Interpretive59. A decrease in the price of pizza will shift the supply curve for pizza to the left.ANS: F DIF: 2 REF: 4-3NAT: Analytic LOC: Supply and demand TOP: Supply curveMSC: Applicative60. Supply and demand together determine the price and quantity of a good sold in a market.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Definitional61. A market’s equilibrium is the point at which the supply and demand curves intersect.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Definitional62. At the equilibrium price, quantity demanded is equal to quantity supplied.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional63. The equilibrium price is the same as the market-clearing price.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional64. At the equilibrium price, buyers have bought all they want to buy, but sellers have not sold all they want tosell.ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional65. The actions of buyers and sellers naturally move markets toward equilibrium.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional66. When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied.ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional67. When the market price is above the equilibrium price, suppliers are unable to sell all they want to sell. ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional68. A surplus is the same as an excess demand.ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: SurplusMSC: Definitionalword⽂档可⾃由复制编辑208 Chapter 4 /The Market Forces of Supply and Demand69. Sellers respond to a surplus by cutting their prices.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: SurplusMSC: Definitional70. Price will rise to eliminate a surplus.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Surplus MSC: Interpretive71. When quantity supplied exceeds quantity demanded at the current market price, the market has a surplus and market price will likely rise in the future to eliminate the surplus.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Surplus MSC: Interpretive72. When the market price is below the equilibrium price, the quantity of the good demanded exceeds the quantity supplied.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional73. When the market price is below the equilibrium price, suppliers are unable to sell all they want to sell. ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional74. A shortage is the same as an excess demand.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: ShortageMSC: Definitional75. Sellers respond to a shortage by cutting their prices.ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: ShortageMSC: Definitional76. Price will rise to eliminate a shortage.ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Shortage MSC: Interpretive77. When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage and market price will likely rise in the future to eliminate the shortage.ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Shortage MSC: Interpretive78. Surpluses drive price up while shortages drive price down.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Shortage | SurplusMSC: Interpretive79. A shortage will occur at any price below equilibrium price and a surplus will occur at any price aboveequilibrium price.ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Shortage | SurplusMSC: Interpretive80. In a market, the price of any good adjusts until quantity demanded equals quantity supplied.ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Interpretive81. When a supply curve or a demand curve shifts, the equilibrium price and equilibrium quantity change. ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Equilibrium TOP: Equilibrium MSC: Definitional82. Demand refers to the amount buyers wish to buy, whereas the quantity demanded refers to the position of the demand curve.ANS: F DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demandTOP: Demand | Quantity demanded MSC: Definitional83. Supply refers to the position of the supply curve, whereas the quantity supplied refers to the amount supplierswish to sell.ANS: T DIF: 1 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: Supply | Quantity supplied MSC: Definitional84. It is not possible for demand and supply to shift at the same time.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: Supply | DemandMSC: Interpretive85. A decrease in demand will cause a decrease in price, which will cause a decrease in supply.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Interpretive86. An increase in demand will cause an increase in price, which will cause an increase in quantity supplied. ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Interpretive87. An increase in supply will cause a decrease in price, which will cause an increase in demand.ANS: F DIF: 2 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Interpretive88. A decrease in supply will cause an increase in price, which will cause a decrease in quantity demanded. ANS: T DIF: 2 REF: 4-4NAT: Analytic LOC: Supply and demand TOP: EquilibriumMSC: Interpretive89. In a market economy, prices are the signals that guide the allocation of scarce resources.ANS: T DIF: 1 REF: 4-5NAT: Analytic LOC: Markets, market failure, and externalitiesTOP: Market economies MSC: Definitionalword⽂档可⾃由复制编辑。

曼昆《经济学原理》（第五版）习题解答目录第一章经济学十大原理 (1)第二章像经济学家一样思考 (7)第三章相互依存性与贸易的好处 (14)第四章供给与需求的市场力量 (22)第五章弹性及其应用 (31)第六章供给、需求与政府政策 (41)第七章消费者、生产者与市场效率 (50)第八章应用：赋税的代价 (58)第九章应用：国际贸易 (65)第十章外部性 (75)第十一章公共物品和公共资源 (84)第十二章税制的设计 (91)第十三章生产成本 (99)第十四章竞争市场上的企业 (109)第十五章垄断 (121)第十六章垄断竞争 (135)第十七章寡头 (143)第十八章生产要素市场 (153)第十九章收入与歧视 (162)第二十章收入不平等与贫困 (169)第二十一章消费者选择理论 (177)第二十二章微观经济学前沿 (187)第二十三章一国收入的衡量 (195)第二十四章生活费用的衡量 (204)第二十五章生产与增长 (210)第二十六章储蓄、投资和金融体系 (214)第二十七章基本金融工具 (221)第二十八章失业 (226)第一篇导言第一章经济学十大原理复习题1．列举三个你在生活中面临的重要权衡取舍的例子。

答：①大学毕业后，面临着是否继续深造的选择，选择继续上学攻读研究生学位，就意味着在今后三年中放弃参加工作、赚工资和积累社会经验的机会；②在学习内容上也面临着很重要的权衡取舍，如果学习《经济学》，就要减少学习英语或其他专业课的时间；③对于不多的生活费的分配同样面临权衡取舍，要多买书，就要减少在吃饭、买衣服等其他方面的开支。

2．看一场电影的机会成本是什么?答：看一场电影的机会成本是在看电影的时间里做其他事情所能获得的最大收益，例如：看书、打零工。

3．水是生活必需的。

一杯水的边际利益是大还是小呢?答：这要看这杯水是在什么样的情况下喝，如果这是一个人五分钟内喝下的第五杯水，那么他的边际利益很小，有可能为负；如果这是一个极度干渴的人喝下的第一杯水，那么他的边际利益将会极大。

Chapter 6Supply, Demand, and Government PoliciesTRUE/FALSE1. Economic policies often have effects that their architects did not intend or anticipate.ANS: T DIF: 1 REF: 6-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Public policy MSC: Definitional2. Rent-control laws dictate a minimum rent that landlords may charge tenants.ANS: F DIF: 1 REF: 6-0NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Definitional3. Minimum-wage laws dictate the lowest wage that firms may pay workers.ANS: T DIF: 1 REF: 6-0NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional4. Price controls are usually enacted when policymakers believe that the market price of a good or service isunfair to buyers or sellers.ANS: T DIF: 1 REF: 6-0NAT: Analytic LOC: Supply and demand TOP: Price controlsMSC: Definitional5. Price controls can generate inequities.ANS: T DIF: 1 REF: 6-0NAT: Analytic LOC: Supply and demand TOP: Price controlsMSC: Definitional6. Policymakers use taxes to raise revenue for public purposes and to influence market outcomes.ANS: T DIF: 1 REF: 6-0NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Definitional7. If a good or service is sold in a competitive market free of government regulation, then the price of the good orservice adjusts to balance supply and demand.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: PricesMSC: Definitional8. At the equilibrium price, the quantity that buyers want to buy exactly equals the quantity that sellers want tosell.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: PricesMSC: Definitional9. A price ceiling is a legal minimum on the price at which a good or service can be sold.ANS: F DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Definitional10. A price ceiling set above the equilibrium price is not binding.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive371372 Chapter 6/Supply, Demand, and Government Policies11. If a price ceiling is not binding, then it will have no effect on the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive12. To be binding, a price ceiling must be set above the equilibrium price.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive13. A price ceiling set below the equilibrium price is binding.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive14. A price ceiling set below the equilibrium price causes quantity demanded to exceed quantity supplied. ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | Shortages MSC: Interpretive15. A price ceiling set above the equilibrium price causes quantity demanded to exceed quantity supplied. ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive16. A binding price ceiling causes quantity demanded to be less than quantity supplied.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | Shortages MSC: Interpretive17. A price ceiling set below the equilibrium price causes a shortage in the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | Shortages MSC: Interpretive18. A price ceiling set above the equilibrium price causes a surplus in the market.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive19. A binding price ceiling causes a shortage in the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | Shortages MSC: Interpretive20. When a binding price ceiling is imposed on a market for a good, some people who want to buy the goodcannot do so.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | Shortages MSC: Interpretive21. Long lines and discrimination are examples of rationing methods that may naturally develop in response to abinding price ceiling.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive22. Price ceilings are typically imposed to benefit buyers.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: InterpretiveChapter 6/Supply, Demand, and Government Policies 373 23. Binding price ceilings benefit consumers because they allow consumers to buy all the goods they demand at alower price.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive24. All buyers benefit from a binding price ceiling.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive25. A binding price ceiling may not help all consumers, but it does not hurt any consumers.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive26. When the government imposes a binding price ceiling on a competitive market, a surplus of the good arises,and sellers must ration the scarce goods among the large number of potential buyers.ANS: F DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | ShortagesMSC: Definitional27. The rationing mechanisms that develop under binding price ceilings are usually inefficient.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilings | EfficiencyMSC: Interpretive28. Price is the rationing mechanism in a free, competitive market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: PricesMSC: Interpretive29. Prices are inefficient rationing devices.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Prices | EfficiencyMSC: Interpretive30. When free markets ration goods with prices, it is both efficient and impersonal.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Prices | EfficiencyMSC: Interpretive31. When a free market for a good reaches equilibrium, anyone who is willing and able to pay the market pricecan buy the good.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: PricesMSC: Interpretive32. If a price ceiling of $2 per gallon is imposed on gasoline, and the market equilibrium price is $1.50, then theprice ceiling is a binding constraint on the market.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Applicative33. If a price ceiling of $1.50 per gallon is imposed on gasoline, and the market equilibrium price is $2, then theprice ceiling is a binding constraint on the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Applicative374 Chapter 6/Supply, Demand, and Government Policies34. A price ceiling caused the gasoline shortage of 1973 in the United States.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Interpretive35. One common example of a price ceiling is rent control.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Definitional36. The goal of rent control is to help the poor by making housing more affordable.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Definitional37. Economists argue that rent control is a highly efficient way to help the poor raise their standard of living. ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economists | Rent control MSC: Interpretive38. Because supply and demand are inelastic in the short run, the initial shortage caused by rent control is large. ANS: F DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent control | Elasticity MSC: Definitional39. The primary effect of rent control in the short run is to reduce rents.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Definitional40. The housing shortages caused by rent control are larger in the long run than in the short run because both thesupply of housing and the demand for housing are more elastic in the long run.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent control | ElasticityMSC: Interpretive41. The effects of rent control in the long run include lower rents and lower-quality housing.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Interpretive42. Rent control may lead to lower rents for those who find housing, but the quality of the housing may also belower.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Interpretive43. In a free market, the price of housing adjusts to eliminate the shortages that give rise to undesirable landlordbehavior.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Rent controlMSC: Definitional44. A price floor is a legal minimum on the price at which a good or service can be sold.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: DefinitionalChapter 6/Supply, Demand, and Government Policies 375 45. A price floor set above the equilibrium price is not binding.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive46. If a price floor is not binding, then it will have no effect on the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive47. To be binding, a price floor must be set above the equilibrium price.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive48. A price floor set below the equilibrium price is binding.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive49. A price floor set below the equilibrium price causes quantity supplied to exceed quantity demanded.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive50. A price floor set above the equilibrium price causes quantity supplied to exceed quantity demanded.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | SurplusesMSC: Interpretive51. A binding price floor causes quantity supplied to be less than quantity demanded.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | SurplusesMSC: Interpretive52. A price floor set below the equilibrium price causes a surplus in the market.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive53. A price floor set above the equilibrium price causes a surplus in the market.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | SurplusesMSC: Interpretive54. A binding price floor causes a shortage in the market.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | SurplusesMSC: Interpretive55. When a binding price floor is imposed on a market for a good, some people who want to sell the good cannotdo so.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | SurplusesMSC: Interpretive56. Discrimination is an example of a rationing mechanism that may naturally develop in response to a bindingprice floor.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive376 Chapter 6/Supply, Demand, and Government Policies57. Price floors are typically imposed to benefit buyers.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive58. Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price. ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive59. Not all sellers benefit from a binding price floor.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive60. A binding price floor may not help all sellers, but it does not hurt any sellers.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Interpretive61. The rationing mechanisms that develop under binding price floors are usually efficient.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floors | EfficiencyMSC: Interpretive62. When a free market for a good reaches equilibrium, anyone who is willing and able to sell at the market pricecan sell the good.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: PricesMSC: Interpretive63. If the equilibrium price of an airline ticket is $400 and the government imposes a price floor of $500 on airlinetickets, then fewer airline tickets will be sold than at the market equilibrium.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Applicative64. If the equilibrium price of an airline ticket is $500 and the government imposes a price floor of $400 on airlinetickets, then fewer airline tickets will be sold than at the market equilibrium.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Applicative65. One common example of a price floor is the minimum wage.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional66. The goal of the minimum wage is to ensure workers a minimally adequate standard of living.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional67. The United States is the only country in the world with minimum-wage laws.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: InterpretiveChapter 6/Supply, Demand, and Government Policies 377 68. States in the U.S. may mandate minimum wages above the federal level.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Interpretive69. In the labor markets, workers determine the supply of labor and firms determine the demand.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor marketsTOP: Labor demand | Labor supply MSC: Definitional70. In an unregulated labor market, the wage adjusts to balance labor supply and labor demand.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: WagesMSC: Interpretive71. A binding minimum wage causes the quantity of labor demanded to exceed the quantity of labor supplied. ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Interpretive72. A binding minimum wage creates unemployment.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Labor marketsTOP: Minimum wage | Unemployment MSC: Interpretive73. A binding minimum wage may not help all workers, but it does not hurt any workers.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Interpretive74. A binding minimum wage raises the incomes of those workers who have jobs, but it lowers the incomes ofworkers who cannot find jobs.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional75. The economy contains many labor markets for different types of workers.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Labor marketsMSC: Definitional76. The impact of the minimum wage depends on the skill and experience of the worker.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional77. Workers with high skills and much experience are not typically affected by the minimum wage.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Interpretive78. The minimum wage has its greatest impact on the market for teenage labor.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional79. The minimum wage is more often binding for teenagers than for other members of the labor force.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional378 Chapter 6/Supply, Demand, and Government Policies80. Studies by economists have found that a 10 percent increase in the minimum wage decreases teenageemployment 10 percent.ANS: F DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional81. A large majority of economists favor eliminating the minimum wage.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Economists | Minimum wage MSC: Interpretive82. Advocates of the minimum wage admit that it has some adverse effects, but they believe that these effects aresmall and that a higher minimum wage makes the poor better off.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: Definitional83. If the equilibrium wage is $4 per hour and the minimum wage is $5.15 per hour, then a shortage of labor willexist.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Labor markets TOP: Minimum wageMSC: ApplicativeFigure 6-1710203040506070809010010203040506070809010084. Refer to Figure 6-17. A price ceiling set at $30 would result in a shortage of 20 units.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Applicative85. Refer to Figure 6-17. A price ceiling set at $70 would result in a shortage of 40 units.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price ceilingsMSC: Applicative86. Refer to Figure 6-17. A price floor set at $60 would result in a surplus of 20 units.ANS: T DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: Applicative87. Refer to Figure 6-17. A price floor set at $40 would result in a surplus of 20 units.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price floorsMSC: ApplicativeChapter 6/Supply, Demand, and Government Policies 379 88. Most economists are in favor of price controls as a way of allocating resources in the economy.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Economists | Price controls MSC: Interpretive89. When policymakers set prices by legal decree, they obscure the signals that normally guide the allocation ofsociety’s resources.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price controlsMSC: Definitional90. Price controls often hurt those they are trying to help.ANS: T DIF: 1 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: Price controlsMSC: Definitional91. Rent subsidies and wage subsidies are better than price controls at helping the poor because they have no costsassociated with them.ANS: F DIF: 2 REF: 6-1NAT: Analytic LOC: Supply and demand TOP: SubsidiesMSC: Interpretive92. The term tax incidence refers to how the burden of a tax is distributed among the various people who make upthe economy.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Definitional93. A tax on sellers shifts the supply curve but not the demand curve.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive94. A tax on sellers shifts the supply curve to the left.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive95. A tax on sellers increases supply.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive96. A tax on sellers and an increase in input prices affect the supply curve in the same way.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive97. A tax of $1 on sellers shifts the supply curve upward by exactly $1.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Applicative98. A tax of $1 on sellers always increases the equilibrium price by $1.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Applicative380 Chapter 6/Supply, Demand, and Government Policies99. A tax on sellers reduces the size of a market.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive100. A tax on sellers increases the quantity of the good sold in the market.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive101. If a tax is imposed on the sellers of a product, then the tax burden will fall entirely on the sellers.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive102. A tax on sellers usually causes buyers to pay more the good and sellers to receive less for the good than they did before the tax was levied.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive103. A tax on buyers shifts the demand curve and the supply curve.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive104. A tax on buyers shifts the demand curve to the right.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive105. A tax on buyers decreases demand.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive106. A tax of $1 on buyers shifts the demand curve downward by exactly $1.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Applicative107. A tax of $1 on buyers always decreases the equilibrium price by $1.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Applicative108. A tax on buyers increases the size of a market.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive109. A tax on buyers decreases the quantity of the good sold in the market.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive110. If a tax is imposed on the buyers of a product, then the tax burden will fall entirely on the buyers.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive111. A tax on buyers usually causes buyers to pay more the good and sellers to receive less for the good than they did before the tax was levied.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Interpretive112. Whether a tax is levied on sellers or buyers, taxes discourage market activity.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Definitional113. Whether a tax is levied on sellers or buyers, taxes encourage market activity.ANS: F DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Definitional114. Whether a tax is levied on sellers or buyers, buyers and sellers usually share the burden of taxes.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Definitional115. Taxes levied on sellers and taxes levied on buyers are equivalent.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Definitional116. The wedge between the buyers’ price and the sellers’ price is the same, regardless of whether the tax is levied on buyers or sellers.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Definitional117. The tax incidence depends on whether the tax is levied on buyers or sellers.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive118. Lawmakers can decide whether the buyers or the sellers must send a tax to the government, but they cannot legislate the true burden of a tax.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive119. A tax on golf clubs will cause buyers of golf clubs to pay a higher price, sellers of golf clubs to receive a lower price, and fewer golf clubs to be sold.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: TaxesMSC: Applicative120. FICA is an example of a payroll tax, which is a tax on the wages that firms pay their workers.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Labor markets TOP: FICA taxMSC: Definitional121. Since half of the FICA tax is paid by firms and the other half is paid by workers, the burden of the tax must fall equally on firms and workers.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Labor markets TOP: FICA tax incidenceMSC: Interpretive122. Buyers and sellers always share the burden of a tax equally.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive123. Buyers and sellers rarely share the burden of a tax equally.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive124. Who bears the majority of a tax burden depends on whether the tax is placed on the buyers or the sellers. ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidenceMSC: Interpretive125. Who bears the majority of a tax burden depends on the relative elasticity of supply and demand.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidence | Elasticity MSC: Interpretive126. If the demand curve is very elastic and the supply curve is very inelastic in a market, then the sellers will beara greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.ANS: T DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidence | Elasticity MSC: Interpretive127. If the demand curve is very inelastic and the supply curve is very elastic in a market, then the sellers will beara greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.ANS: F DIF: 2 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidence | Elasticity MSC: Interpretive128. A tax burden falls more heavily on the side of the market that is less elastic.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidence | Elasticity MSC: Definitional129. The tax burden falls more heavily on the side of the market that is more inelastic.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Tax incidence | Elasticity MSC: Definitional130. A tax on a market with elastic demand and elastic supply will shrink the market more than a tax on a market with inelastic demand and inelastic supply will shrink the market.ANS: T DIF: 3 REF: 6-2NAT: Analytic LOC: Supply and demand TOP: Taxes | ElasticityMSC: Analytical131. Most labor economists believe that the supply of labor is much more elastic than the demand.ANS: F DIF: 1 REF: 6-2NAT: Analytic LOC: Labor markets TOP: ElasticityMSC: Definitional132. Workers, rather than firms, bear most of the burden of the payroll tax.ANS: T DIF: 1 REF: 6-2NAT: Analytic LOC: Labor markets TOP: Payroll tax incidenceMSC: Definitional。