课程名称︰经济学一
课程性质︰通识A5*
课程教师︰李显峰
开课学院：社会科学院
开课系所︰经济系
考试日期（年月日）︰106年11月06日
考试时限（分钟）：130分钟
试题 :
一、单选题
1.
If the price of natural gas rises, when is the price elasticity of demand likely to be the highest?
a. immediately after the price increase
b. one month after the price increase
c. three months after the price increase
d. one year after the price increase
2.
Farm programs that pay farmers not to plant crops on all their land
a. hurt farmers by lowering their total revenue and hurt consumers by causing shortages of some food items.
b. help farmers by cutting costs, which helps consumers by lowering food prices.
c. help farmers by increasing total revenue in the market but hurt consumers by raising food prices.
d. help farmers directly since they receive government payments but have no real effects on consumers.
3.
A demand curve reflects each of the following except the
a. willingness to pay of all buyers in the market.
b. value each buyers in the market places on the good.
c. highest price buyers are willing to pay for each quantity.
d. ability of buyers to obtain the quantity they desire.
4.
A key determinant of the price elasticity of supply is the
a. number of close substitutes for the good in question.
b. extent to which buyers alter their quantities demanded in response to changes in prices.
c. length of the time period.
d. extent to which buyers alter their quantities demanded in response to changes in their incomes.
5.
Which statement is false?
a. An increase in the price of pizza will causethe demand curve of hamburgers shift to the right.
b. A decrease in the price of soda will lead the demand curve of hamburgers to right.
c. If price of computers rises, the demand curve of software will shift right.
d. If the Coke price increase, it will lead the demand curve of Pepsi to right.
6.
Which of the following would not shift the supply curve for a goods?
a. An improvement of technology.
b. A change in the price of a related goods.
c. Other things being equal, more workers are hired to produce the goods.
d. Next week, the typhoon will come.
7.
A point outside the production possibilities frontier is
a. efficient but not feasible.
b. feasible but not efficient.
c. both efficient and feasible.
d. neither efficient and feasible.
8.
Which factor will not affect the demand curve?
a. the improvement of technology
b. increase of buyer's income
c. a change in the number of buyers
d. a change of related price in substitution boods
9.
Suppose the government has imposed a price ceiling on laptop computers. Which of the following events could transform the price ceiling from one that is not binding into one that is binding?
a. Improvements in production technology reduce the costs of producing laptop computers.
b. The number of firms selling laptop computers decreases.
c. Consumers'income decreases, and laptop computers are a normal good.
d. The number of consumers buying laptop computers decreases.
10.
Which of the following statements is valid when supply is perfectly elastic at a price of $4?
a. The elasticity of supply approaches infinity.
b. The supply curve is vertical.
c. At a price below $4, quantity supplied is infinite.
d. At a price above $4, quantity supplied is zero.
11.
Suppose there is currently a tax of $50 per ticket on airline tickets.
Buyers of airline tickets are required to pay the tax to the government.
If the tax is reduced from $50 per ticket to $20 per ticket, then the
a. demand curve will shift upward by $30, and the price paid by buyers will decrease by less than $30.
b. demand curve will shift upward by $30, and the price paid by buyers will decrease by $30.
c. supply curve will shift downward by $30, and the effective price recieved by sellers will increase by less than $30.
d. supply curve will shift downward by $30, and the effective price recieved by sellers will increase by $30.
12.
If the price elasticity of supply is 1.2, and a price increase led to a 5% increase in quantity supplied, then the price increase is about
a. 0.24%.
b. 4.2%.
c. 6%.
d. 6.2%.
13.
Economics book has an upward-sloping supply curve and the downward-sloping demand curve. If a 10 cents per book tax is increased to 15 cents, the government's tax revenue
a. increased by less than 50% and may even decline.
b. increased by exactly 50%.
c. increased by more than 50%.
d. The answer depends on whether supply or demand is more elastic.
14.
As the tax on a good increase from $1 per unit to $2 per unit to $3 per unit and so on, the
a. tax revenue increase at first, but it eventually peaks and then decreases.
b. deadweight loss increases at first, but it eventually peaks and then decreases.
c. tax revenue always increases, and the deadweight loss always increases.
d. tax revenue always decreases, and the deadweight loss always increases.
15.
A supply curve can be used to measure producer surplus because it reflects
a. the actions of sellers.
b. quantity supplied.
c. seller's costs.
d. the amount that will be purchasedby consumers in the market.
16.
Which of the following is not correct?
a. Market power can cause markets to be inefficient.
b. When the dicisions of buyers and sellers affect nonparticipants, markets may be inefficient.
c. The tool of welfare economics cannot help economists when markets are inefficient.
d. Externalities can cause markets to be inefficient.
17.
Which of the following ideas is the most plausible?
a. Reducing a high tax rate is less likely to increase tax revenue than is reducing a low tax rate.
b. Reducing a high tax rate is more likely to increase tax revenue than is reducing a low tax rate.
c. Reducing a high tax rate will have the same effect on tax revenue as reducing a low tax rate.
d. Reducing a tax rate can never increase tax revenue.
18.
Assume the supply curve for diapers is a typical, upward-sloping straight line, and the demand curve for diapers is a typical, downward-sloping straight line. Suppose the equilibriun quantity in the market for diapers is 1,000 per month when there is no tax. Then a tax of $0.50 per diaper is imposed. The effective price paid by buyers increases from $1.50 to $1.90 and the effective price recieved by sellers falls from $1.50 to $1.40. The government's tax revenue amounts to $475 per month. Which
of the
following statements is correct?
a. After the tax is imposed, the equilibrium quantity of diapers is 900 per month.
b. The demand for diapers is more elastic than the supply of diapers.
c. The deadweight loss of the tax is $12.50.
d. The tax causes a decreasein consumer surplus of $380.
19.
Assume the price of gasoline is $2.00 per gallon, and the equilibrium quantity of gasoline is 10 million gallons per day with no tax on gasoline. Starting from this initial situation, which of the following scenarios would result in the largest deadweight loss?
a. The price elasticity of demand for gasoline is 0.1; the price elasticity of supply for gasoline is 0.6; and the gasoline tax amounts to $0.20 per gallon.
b. The price elasticity of demand for gasoline is 0.1; the price elasticity of supply for gasoline is 0.4; and the gasoline tax amounts to $0.20 per gallon.
c. The price elasticity of demand for gasoline is 0.2; the price elasticity of supply for gasoline is 0.6; and the gasoline tax amounts to $0.30 per gallon.
d. There is insufficient information to make this determination.
20.
Suppose that a worker in Radioland can produce either 4 radios or 1 television per year and a worker in Teeveeland can produce either 2 radios or 5 televisions per year. each nation has 100 workers, and each country specializes according to the principle of comparative advantage. If Radioland trades 100 televisions to Teeveeland in exchange for 100 radios each year, then each country's maximum consumption of new radios and televisions per year will be
a. higher than it will be in the absence of trade because of the gains from trade.
b. the same as it would be in the absence of trade.
c. less than it would be in the absence of trade because neither country is specializing in the product in which it has a comparative advantage.
d. less than it would be in the absence of trade because Teeveeland has an absolute advantage in both goods and so it cannot benefit by trading with Radioland.
21.
Suppose that a worker in Caninia can produce either 2 blankets or 8 meals per day, and a worker in Felinia can produce either 5 blankets or 1 meal per day. Each nation has 10 workers. For many years, the two countries traded, each completely specializing according to their respecting comparative advantages. Now war has broken out between them and all trade has stopped. Without trade, Caninia produces and consumes 10 blankets and 40 meals per day and Felinia produces and consumes 25 blankets and
5 meals
per day. The war has caused the combined daily output of the two countries to decline by
a. 15 blankets and 35 meals.
b. 25 blankets and 40 meals.
c. 35 blankets and 45 meals.
d. 50 blankets and 80 meals.
22.
Equilibrium quantity must decrease when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
b. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease.
c. decreases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease.
d. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
23.
Milk has an inelastic demand, and beef has an elastic demand. Suppose that a mysterious increase in bovine infertility (不明的牛只不孕症) decreases both the population of dairy cows and the population of beef cattle by 50%. The change in equilibrium quantity will be
a. greater in the milk market than in the beef market.
b. greater in the beef market than in the milk market.
c. the same in the milk and beef markets.
d. Any of the above could be correct.
24.
If the government removes a binding price floor from a market, then the price paid by buyers will
a. increase, and the quantity sold in the market will increase.
b. increase, and the quantity sold in the market will decrease.
c. decrease, and the quantity sold in the market will increase.
d. decrease, and the quantity sold in the market will decrease.
25.
Tomato sauce and spaghetti noodles are complementary goods. A decrease in the price of tomatoes will
a. increase consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles.
b. increase consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles.
c. decrease consumer surplus in the market for totato sauce and increase producer surplus in the market for spaghetti noodles.
d. decrease consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles.
二、问答计算申论题(须列出计算或推理过程)
1.
Suppose that the supply and demand function in the iPad market are as the following:
Qs = 100 + 2P supply function
Qd = 400 - P demand function
where P is the unit price of an iPad. Please find:
(1) the equilibrium price and quantity.
(2) Now suppose that a lump-sum tax is placed on sellers. If T=45, solve for the new equilibrium price and quantity.
(3) What is the tax burden of buyers and sellers of the lump-sum tax T=45 individually?
(4) Social surplus. Social surplus is the sum of producer surplus, consumer surplus and tax revenue after taxation.
2.
Suppose that the typical medical procedurehas a cost of $150, yet a person with health insurance (投保健保) pays only $50 out of pocket. Her insurance company pays the remaining $100. (The insurance company recoups the $100 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undertake.)
(1) Draw the demand curve in the market for medical care. (In the diagram, the horizontal axis represents the number of medical procedures.) Show the quantity of precedures demanded Q1 if each procedure has a price of $150.
(2) On the diagram, show the quantity of procedures demanded Q2 if consumers pay only $50 per procedure. If the cost (边际成本MC = 新增加医疗处理的成本) of each procedure to society is truly $150, and if individuals have health insurance as described above, will the number of procedures performed maxixized total social surplus? Explain briefly.
(3) Given your analysis, why might the use of medical care be viewed as "excessive" in such a health insurance?
(4) What sort of policies might prevent this excessive use?