祀-
1995 AP Microeconomics Examination
MICROECONOMICS
Section I
Time
—
70 minutes
60 Questions
Directions:
Each of the questions or incomplete statements below is followed by five suggested
answers or completions. Select the one that is best in each case and place the letter of your
choice in the corresponding box on the student answer sheet.
1.
The
allocation
of
resources
in
a
market
economy
is
described
by
which
of
the
following
statements?
I.
The government decides which goods will be produced and which consumers will receive
them.
II.
Buyers and sellers exchange goods and services on a voluntary basis.
III.
Prices and costs help producers decide whether they are producing too little or too much
of a good.
A.
Ⅰ
only
B.
Ⅱ
only
C.
Ⅲ
only
D.
Ⅰ
and
Ⅲ
only
E.
Ⅱ
and
Ⅲ
only
2. If the government imposes a tax on the production of cars, which of the following will occur in
the market for cars?
A. There will be a movement to the right along the supply curve.
B. There will be a movement to the right along the demand curve.
C. The supply curve will shift to the right.
D. The supply curve will shift to the left.
E. The demand curve will shift to the right.
3. Which of the following is true of a price floor?
A. The intention of the government in creating the price floor is to assist the producers of the
good.
B. To have an impact in the market for the good, the price floor should be set below the existing
market price of the good.
C. An effective price floor will increase the quantity demanded of the good.
D. The price floor would tent to create a shortage of the good in the market.
E.
The
creation
of
the
price
floor
would
not
change
the
quantity
supplied
of
the
good
if
the
supply curve were upward-sloping to the right.
1
1995 AP Microeconomics Examination
PRICE
Supply
Demand
4. On the basis of the graph above, which of the following statements concerning changes in the
demand for and supply of tomatoes is correct?
A.
If both the demand and supply increase, the price of tomatoes will definitely increase.
B.
If
both
the
demand
and
supply
increase,
the
quantity
of
tomatoes
sold
will
definitely
decrease.
C.
If
the
demand
decreases
while
the
supply
increases,
the
price
of
tomatoes
will
definitely
increase.
D.
If
the
demand
decreases
while
the
supply
increases,
the
quantity
of
tomatoes
sold
will
definitely decrease.
E.
If
the
demand
increases
while
the
supply
decreases,
the
price
of
tomatoes
will
definitely
increase.
5. Which of the following best illustrates the concept of consumer surplus?
A.
A thirsty athlete pays $$0.85 for a cold drink when she would have gladly paid $$1.50 for the
drink.
B.
An individual who is willing to accept a job at $$7.50 per hour is offered $$7.00 per hour.
C.
An individual pays the sale price of $$15.00 for the same shirt that the individual refused to
purchase earlier at $$18.00.
D.
An individual finds that the price of artichokes, a food she dislikes, has been reduced by 50
percent.
E.
A wood- carver has a marginal cost of $$5.00 for a unit of output, but sells that unit at $$6.00
Questions
6-7
are
based
on
the
table
below,
which
gives
cost
information
for
a
perfectly
competitive firm.
Quantity
0
1
2
3
4
5
6
QUANTITY OF TOMATOES
Average Fixed Costs
$$100.00
50.00
33.33
25.00
20.00
16.67
Average Variable Costs
$$55.00
45.00
50.00
55.00
60.00
65.00
2
Marginal Costs
$$55.00
35.00
60.00
70.00
80.00
90.00
1995 AP Microeconomics Examination
6. The average total cost to the firm of producing 2 units of output is
A.
$$35.00
B.
$$85.00
C.
$$95.00
D.
$$100.00
E.
$$130.00
7.
If
the
product
price
is
$$85,
how
many
units
of
output
must
the
firm
produce
in
order
to
maximize profits?
A.
0
B.
3
C.
4
D.
5
E.
6
8. Which of the following factors can cause a firm’s cost curves shift upward?
A.
An increase in wages
B.
An in
crease in the firm’s output
C.
An increase in the output price
D.
A decrease in the firm’s output
E.
A decrease in the price of energy
Price
$$10
Marginal Cost
Average Total Cost
8
Average V
ariable Cost
2
10
15
18
20
Quantity
9. The diagram above shows a perfectly competitive firm’s short
-run cost curves. If the price of
the output increases from $$8 to $$10, the profit- maximizing firm will
A.
Continue producing 15 units because average total cost is at a maximum
B.
Continue producing 15 units because average total cost is equal to marginal cost
C.
Increase output to 20 units because this is the output at which price equals average total cost
D.
Increase output to 18 units because this is the output at which price equals marginal cost
3
1995 AP Microeconomics Examination
E.
Decrease output to 10 units because this is the output at which average variable cost is at a
minimum
10.
Which
of
the
following
statements
is
true
about
a
firm
that
sells
its
output
in
a
perfectly
competitive market?
A.
The demand for its product is a downward- sloping function.
B.
The firm will earn zero economic profits in long-run equilibrium.
C.
Advertising is an important tool of the firm.
D.
The
firm
will
increase
its
total
economic
profits
if
it
charges
a
price
that
is
lower
than
the
market price.
E.
The
marginal
revenue
the
firm
receives
from
selling
an
additional
unit
of
output
will
be
different from the price at which it sells that unit.
11. One justification for government regulation of a monopoly is that the unregulated monopoly
A. earn a normal profit
B. pays its workers a lower wage than if the market were competitive
C. has a very elastic demand curve
D. Charges a price higher than a competitive market price
E. sells too much of the product
12. Which of the following is most likely to shift the demand for aircraft mechanics to the right?
A.
An increase in the demand for air travel
B.
An increase in the price of a license necessary for aircraft mechanics
C.
A decrease in the price of license necessary for aircraft mechanics
D.
A decrease in the demand for air travel
E.
A decrease in the marginal productivity of aircraft mechanics
Wage Rate
Supply
Marginal Revenue Product
Number of workers
13. The graph above shows the marginal revenue product curve and supply curve of labor for a
firm. The introduction of new management techniques dramatically increases worker productivity.
Which of the following changes is most likely to occur?
A.
The supply curve will shift to the left, increasing the wage rate.
B.
The supply curve will shift to the right, increasing employment.
C.
The marginal revenue product curve will shift to the right, increasing the wage rate.
4
1995 AP Microeconomics Examination
D.
The marginal revenue product curve will shift to the left, reducing employment.
E.
Neither the marginal revenue product curve nor the supply curve will shift, but the wage will
increase and employment will fall.
14. If the production of a good results in a positive externality, the government might be able to
improve economic efficiency in this market by
A. eliminating private production of the good
B. imposing a tax on private producers
C. promoting the export of the surplus output
D. initiating antitrust action
E. granting a subsidy to private producers
15. All of the following are sources of inequality in the distribution of personal income EXCEPT
A. progressive income taxes
B. discrimination in employment
C. differences in personal motivation
D. differences in educational level attained
E. differences in abilities
16.
An
outward
shift
in
the
production
possibilities
curve
of
an
economy
can
be
cause
by
an
increase in
A. unemployment
B. the labor force
C. inflation
D. output
E. demand
A
H
G
B
U
n
i
t
s
o
f
G
o
o
d
Y
C
O
E
F
Units of Good X
D
17. The graph above shows an economy’s production possibilitie
s frontier for the production of
two goods, X and Y. Assume that the economy is currently at point B. The opportunity cost
of
moving from point B to point C is
A.
AH units of good Y
5
1995 AP Microeconomics Examination
B.
HG units of good Y
C.
OG units of good Y
D.
EF units of good X
E.
OF units of good X
18. If the demand for potatoes increases whenever a person’s income increase, then potatoes are
an example of
A. an inferior good
B. a free good
C. a Giffen good
D. a normal good
E. a public good
19.
The
American
Heart
Association
has
just
issued
a
report
warning
consumers
about
the
negative health effects of eating beef. Which of the following changes in the beef market is most
likely to occur as a result?
A.
The supply curve will shift to the left, increasing the price of beef.
B.
The demand curve will shift to the left, decreasing the price of beef.
C.
The demand curve will shift to the right, increasing the price of beef.
D.
Neither the supply nor demand curve will shift; only quantity will increase as price decreases.
E.
Neither the supply nor demand curve will shift; only quantity will decrease as price increases.
20.
Which
of
the
following is
most
likely
to
increase
the
supply
of
soldiers for
an all-volunteer
army?
A.
A decrease in the salaries paid to soldiers
B.
A decrease in the average wage rate in civilian employment
C.
A reduction in college tuition benefits provided to soldiers
D.
The imposition of new restrictions on women in the military
E.
An increase in the required length of service
21.
If
the
increase
in
the
price
of
one
good
decreases
the
demand
for
another,
then
the
two
goods are
A. inferior goods
B. luxury goods
C. normal goods
D. substitute goods
E. complementary goods
22. Which of the following is true about a firm’s average variable cost?
A.
It will rise if marginal cost is less than average variable cost.
B.
It wil
l never equal the firm’s marginal cost.
C.
It will decline when the firm’s marginal product declines.
D.
It will be negative if marginal revenue declines.
E.
It will equal average total cost when fixed costs are zero.
6
1995 AP Microeconomics Examination
Questions 23-24 refer to the graph below showing cost curves for a perfectly competitive firm.
$$
Marginal Cost
Average Total Cost
10
6
3
12
16
Number of Widgets (in thousands)
23. At a market price of $$6, the profit-maximizing rate of output will result in
A. economic profits
B. economic losses
C. normal profits
D. profits that are less than normal
E. profits that are greater than normal
24. If the market price of $$10, how many widgets should this profit-maximizing firm produce?
A.
3,000
B.
6,000
C.
12,000
D.
16,000
E.
21,000
25.
A
competitive
firm
produces
a
product
using
labor
and
plastic.
The
firm
is
initially
in
equilibrium. If the cost of plastic suddenly increases, which of the following will occur?
A.
The demand curve for the product will shift to the left.
B.
The firm’s demand curve for plastic will shift to the left.
C.
The firm will increase the number of units offered for sale.
D.
The firm will definitely go out of business, since competitive firms earn zero economic profits
in equilibrium.
E.
The firm’s marginal costs will increase at each level of output.
7
1995 AP Microeconomics Examination
Price
Marginal Cost
Demand
q
1
q
2
Output
26. Given the cost and demand schedules depicted above, if the firm increased output from q1 to
q2, it would
A. earn a normal profit
B. experience an increase in profits
C. experience a decline in profits
D. increase revenues but not costs
E. increase costs but not revenues
27. Which of the following are characteristics of a perfectly competitive industry?
I.
New firms can enter the industry easily.
II.
There is no product differentiation.
III.
The industry’s demand curve is perfectly elastic.
IV.
The supply curve of an individual firm in the industry is perfectly elastic.
A.
Ⅰ
and
Ⅱ
only
B.
Ⅰ
and
Ⅲ
only
C.
Ⅱ
and
Ⅳ
only
D.
Ⅰ
,
Ⅱ
, and
Ⅳ
only
E.
Ⅰ
,
Ⅲ
, and
Ⅳ
only
28. The profit-maximizing output level produced by an unregulated monopoly is
A. the socially optimal output level, since the firm’s marginal revenue equals its marginal cost
B.
greater
than
the
socially
optimal
level,
since
the
firm’s
marginal
cost
exceeds
its
marginal
revenue
C. greater than the socially optimal level, since the firm makes economic profits
D.
less
than
the
socially
optimal
level,
since
the
price
paid
by
cons
umers
exceeds
the
firm’s
marginal cost
E.
less
than
the
socially
optimal
level,
since
the
price
of
the
product
is
less
than
the
firm’s
marginal revenue
29. The wage rate is $$10 per hour and the last worker hired by the firm increased output by 100
units.
Computers
rent
for
$$100
per
hour
and
the
last
computer
rented
by
the
firm
increased
output by 2,000 units. To minimize costs the firm should
8
祀-
祀-
祀-
祀-
祀-
祀-
祀-
祀-
本文更新与2021-01-22 02:15，由作者提供，不代表本网站立场，转载请注明出处：https://www.bjmy2z.cn/gaokao/547589.html
-
上一篇：2019年成都市锦江区一诊英语题(含答案)
下一篇：考研各专业数学考试科目