經濟學原理一
期中考試題(A)
11/13/2001
一、單選題 Multiple Choice (60分)
1.Economics is primarily the study of
(a)how people use limited resources to produce, trade, and consume goods and services.
(b)how to operate a profitable business.
(c)the allocation of nonscarce resources in society.
(d)how households decide to spend after-tax income.
2.An important element of the market process is that
(a)although people trade voluntarily, one party “wins” and the other party “loses”.
(b)the government determines the extent of market activity in order for all parties to benefit.
(c)people are better off if they are self-sufficient than if they trade with others in the market.
(d)people trade voluntarily and all parties expect to benefit.
3.Economic models
(a)are useful for testing the likely effectiveness of proposed policies.
(b)are always based on realistic assumptions.
(c)usually predict perfectly.
(d)are theoretical and are not suitable for application to the real world.
4.If an economist reports average annual housing costs over a fifty-year period, without adjusting for inflation, the statistics will be faulty because of the statistical fallacy known as
(a)a misleading comparison.
(b)selection bias.
(c)a post-hoc fallacy.
(d)misrepresentation.
5.A point outside the boundaries of the production possibilities frontier represents a combination of goods that is
(a)attainable.
(b)unattainable.
(c)inefficient.
(d)efficient.
6.To determine which trades between two people are “fair” requires
(a)an analysis of the distribution of the gains from trade between the two people.
(b)a normative judgment about the notion of fairness.
(c)a positive analysis of the terms of the trade.
(d)a comparison of the trade situation to the no-trade situation.
7.The law of demand indicates that as the price of a good increases,
(a)suppliers want to sell less of it.
(b)buyers want to buy less of it.
(c)more of it is produced.
(d)more of it is desired.
8.When the demand curve shifts to the right and the supply curve shifts to the left, then the
(a)price will rise, but the change in quantity traded is uncertain.
(b)price will fall, but the change in quantity traded is uncertain.
(c)quantity traded will rise and price will not change.
(d)price will fall and quantity traded will not change.
9.A relative price cannot
(a)be expressed in terms of any other good.
(b)be expressed as the monetary price as long as the monetary price of one good is being compared with the monetary price of another good.
(c)increase if the monetary price of the good goes up and the monetary price of other goods remain unchanged.
(d)remain unchanged if the monetary price of the good declines and the monetary prices of other goods remain unchanged.
10.The demand for a product tends to be inelastic if
(a)people spend a large share of their income on the product.
(b)the population in the market area is large.
(c)few good substitutes for the product are available.
(d)few good complements to be used with the product are available.
11.When the supply of good X decreases, total expenditure on good X increases. When the demand for good X increases, the quantity sold increases by a larger percentage than the price. Demand is ______; supply is ______.
(a)elastic; elastic.
(b)elastic; inelastic.
(c)inelastic; elastic.
(d)inelastic; inelastic.
12.If government demand for computers falls,
(a)the price of computers declines, the private quantity demanded rises, and total production of computers falls.
(b)there is no change in the price of computers, because private demand will decrease and offset the decline in government spending.
(c)the price of computers will fall and production will rise.
(d)at first the price of computers falls, but higher private demand will lead to price increases.
13.If the time cost of attending a movie rises by $5, then
(a)the demand curve for movies shifts down by$5.
(b)the demand curve for movies shifts up by $5.
(c)there is no change in the demand curve for movies.
(d)attendance at movies rises.
14.Your reservation price for a good is
(a)the amount you have to pay for a good, including the cost of guaranteeing that the good is available for purchase.
(b)the money price plus the time cost of buying a good.
(c)the expected punishment cost of buying a good.
(d)the highest price you would be willing to pay for a good.
15.Price adjustments to a new equilibrium tend to be fastest in which of the following markets?
(a)Penney’s catalog sales.
(b)the stock market.
(c)the real-estate market.
(d)retail clothing stores.
16.A country or an individual has an absolute advantage in the production of some good when it, he, or she:
(a) can produce more of the good using the same resources than can any other country or individual.
(b) also has a comparative advantage in the production of that good.
(c) can change a higher price for all of the goods produced.
(d) is richer and has more resources than any other country or individual.
17.If a new production technology is developed, the net effect will be that:
(a)demand increases with the result that equilibrium price and quantity will fall.
(b)supply declines with the result that equilibrium price will fall and quantity will rise.
(c)supply increases with the result that equilibrium price will fall and quantity will rise.
(d) the quantity supplied will increase and the price will fall.
18.The more inelastic is the demand for a product, the:
(a)smaller will be the change in price for a given decrease in supply.
(b)larger will be the change in price for a given decrease in supply.
(c)smaller will be the change in price for a given increase in supply.
(d)smaller will be the shift in the demand curve for a given change in price.
19.Jobs with more attractive characteristics usually
(a)pay lower wages.
(b)have perfectly elastic labor supply curves.
(c)have perfectly elastic labor demand curves.
(d)pay higher wages.
20.If the government wants to maximize the revenue from a tax, it should levy taxes on products where demand is:
(a)elastic.
(b)unit elastic.
(c)inelastic.
(d)horizontal.
二、是非題(20分)
Response to each statement true, false, or uncertainand thenjustifyyour response. The justification of your response is the most important part of your answer.
- A scarce good will always have a positive opportunity cost.
- Situations in which individuals trade are typically zero-sum games.
- Certain individuals benefit after emergencies by charging affected parties high prices to repair and rebuild homes. The government should prevent repairmen from profiting from others’ misfortunes.
- A rational decision marker always forecasts the future correctly.
三、 問答題(30分)
- Explain why soft-drink machines have sophisticated mechanisms that prevent individuals from taking more than one soft drink, while newspaper machines allow an individual to take the entire supply of newspapers.（6分）
- Describe three factors that affect the elasticity of demand for a good. Why do they have this effect? Give examples of each factor.（12分）
- How would the following changes affect demand curves, supply curves, and equilibrium prices and quantities? （Discuss as many economic implications of these changes as you can imagine.）（12分）
（a）People learn about health benefits of cutting the amount of fat they eat.
（b）Taiwan legalizes gambling.
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