-
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Chapter 1
1. Economic analysis:
A)
involves some simplifications of reality.
B)
is
only
vaguely
related
to
reality
because
if
it
did
so
coincide,
it
would
not
still
be
theory.
C)
is impossible, because of the impossibility of a controlled experiment.
D)
if it is good theory, involves no simplification of reality.
E)
involves so much distortion of reality as to be worthless.
Ans:
A
2. What are economic goods?
A)
Goods that are very expensive.
B)
Goods that are in scarce or limited supply.
C)
Goods that a country produces and then trades to another county.
D)
Goods that are vital to an individual's welfare.
E)
All of the above.
Ans:
B
3.
A)
periods of famine.
B)
monopolization of existing supplies of goods.
C)
monopolization of resources to provide goods.
D)
monopolization of outlets to sell goods.
E)
none of the above.
Ans:
E
4.
A)
retailing, wholesaling, and transportation.
B)
what.
C)
how.
D)
for whom.
E)
none of the above.
Ans:
D
5. The three questions of what, how, and for whom:
A)
relate to the three factors of production.
B)
exist because of scarcity.
C)
are more of a problem in a market economy.
D)
are more of a problem in a command economy.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
E)
are no longer relevant.
Ans:
B
description of economics as,
A)
allocating scarce resources may require painful decisions.
B)
costs and benefits need to be weighed objectively.
C)
the
proper
balance
must
be
struck
between
the
discipline
of
the
market
and
the
generosity of the welfare state.
D)
all of the above.
E)
none of the above.
Ans:
D
7.
When
moving
along
a
production
possibilities
frontier,
the
opportunity
cost
to
society
of
obtaining more of one of the two goods:
A)
is measured in dollar terms.
B)
usually decreases as more of the good is produced.
C)
is measured by the amount of the other good that must be given up.
D)
is measured by the additional resources that must be used to produce the good.
E)
is usually constant.
Ans:
C
data reflect three possible combinations of food and nothing that can be produced from a
given set of resources.
Food
10
5
0
Clothing
O
X
50
Refer
to
the
above
data.
If
both
clothing
and
food
always
use
all
inputs
in
the
same
proportion, then X must be:
A)
25.
B)
more than 25.
C)
less than 25.
D)
50.
E)
cannot not be determined from the data
Ans:
A
9. Being on the production-possibility frontier between guns and butter means that:
A)
it is impossible to produce any more guns.
B)
it is impossible to produce any more butter.
C)
more guns can be produced only by doing without some butter.
D)
population is in equilibrium.
E)
if society becomes more productive in producing butter, then we can have more butter
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
but not more guns.
Ans:
C
10. A shift in a production-possibility frontier can result from:
A)
unemployment.
B)
inflation.
C)
changes in production techniques.
D)
changes in the combination of goods produced.
E)
changes in consumers' tastes.
Ans:
C
11
Figure 1-1
Which point on the production-possibility frontiers drawn in Figure 1 indicates no consumption
goods being produced?
A)
A.
B)
B.
C)
C.
D)
D.
E)
E.
Ans:
E
12. Of the following points, which point reflects the most efficient use of available resources in
relation to frontier AE in Figure 1-1?
A)
F.
B)
G.
C)
C.
D)
H.
E)
Cannot tell from the information provided.
Ans:
C
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
ve to frontier A'E' in Figure 1-1, which of the following points is least efficient?
A)
B'.
B)
C'.
C)
B.
D)
C.
E)
F.
Ans:
E
14. Point A on which panel in Figure 1-2 represents an inefficient use of resources?
A)
Panel A.
B)
Panel B.
C)
Panel C.
D)
Panel D.
E)
Panel E.
Ans:
D
15. For a theory to be useful, it must be confirmed in each test case.
Ans:
False
CHAPTER 2
1. In a market system, the what decision is made most basically by
A)
representative government.
B)
national planning.
C)
bankers.
D)
advertisers and their ability to persuade buyers.
E)
spending decisions of those with money.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Ans:
E
2. In a market economy, the presumed harmony between individual and public interest depends
upon:
A)
the good will of private business people.
B)
careful planning and coordination of economic activity.
C)
altruism on the part of consumers.
D)
competitive markets and the pursuit of self- interest by individuals.
E)
the wisdom of government decisions.
Ans:
D
3. Pollution control policy is directed first and foremost at improving:
A)
equity.
B)
efficiency.
C)
stability.
D)
all of the above.
E)
none of the above
Ans:
B
4. Who is in charge of a market economy? That is, what agents and factors are the most important
in determining market outcomes?
A)
Large companies.
B)
Congress and the president.
C)
Consumers alone.
D)
All producers.
E)
Consumers and technology.
Ans:
E
5. The principle of the
A)
the selfish pursuits of everyone's own interest will lead to the best good for all under
market competition.
B)
government must gently guide economic activity so that the best for all will be attained.
C)
government policies work like an invisible hand, steering resources to their best use.
D)
producers must quietly cooperate so that prices are not so low as to cause losses.
E)
none of the above.
Ans:
A
6. Consumers vote their dollars primarily in:
A)
labor markets.
B)
land markets.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
C)
capital markets.
D)
goods markets .
E)
none of the above.
Ans:
D
7. Which of the following statements is true of specialization?
A)
Specialization is inconsistent with the idea of individual freedom.
B)
Economies that practice a division of labor are morally superior to those that do not.
C)
In accepting specialization, a person sacrifices his or her own interests for the sake of
society's interest.
D)
While specialization has enormous advantages, the costs outweigh them.
E)
Increased productivity is more likely to be achieved through specialization.
Ans:
E
8. Which of the following is not an example of government regulation designed to curb a negative
externality?
A)
Anti-child labor laws.
B)
Anti-pollution laws.
C)
A national sales tax.
D)
Legislation against strip mining.
E)
The Clean Air Act.
Ans:
C
9. Prices in factor markets are primarily determined by
A)
government regulation.
B)
big business collusion.
C)
the interaction of business supply without household demand.
D)
the interaction of household supply with business demand.
E)
none of the above.
Ans:
D
10. An economy dominated by imperfect competition is characterized by
A)
too much output, and low prices compared to perfect competition.
B)
same amount of output, and low prices compared to perfect competition.
C)
too little output, and low prices compared to perfect competition.
D)
too little output, and high prices compared to perfect competition.
E)
too much output, and high prices compared to perfect competition.
Ans:
D
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
11. Which of the following is the key requirement for imperfect competition?
A)
Advertising.
B)
Many buyers.
C)
Many sellers.
D)
Ability of a buyer or seller to affect a good's price.
E)
Government policies.
Ans:
D
12. Of the three basic problems in our modern economy, prices in a market system solve:
A)
what and for whom, but physical scientists solve how.
B)
what and how, but for whom is determined by social scientists.
C)
how and for whom, but Congress solves the what.
D)
each of the above, and no two are contradictory.
E)
none of the above is accurate.
Ans:
E
13.
Which
of
the
following
would
best
determine,
in
a
market
economy,
the
answer
to
the
for
whom question?
A)
Fairness.
B)
International trade patterns.
C)
Pricing of factors of production that people own.
D)
Cost minimization.
E)
Consumers' tastes and needs.
Ans:
C
14. How goods are produced is determined by:
A)
consumer demand.
B)
government intervention to force businesses to produce goods cheaply.
C)
big business activity.
D)
business competition to buy factor inputs and sell goods most cheaply.
E)
none of the above.
Ans:
D
15. A
Ans:
True
CHAPTER 3
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
E were the old equilibrium in the market for wheat in the figure below, and E' the new one,
which of the following could have caused the change?
A)
Consumer income rose, causing a supply shift.
B)
Bad weather caused a supply shift.
C)
Consumer income rose, causing a demand shift.
D)
Supply and demand both shifted.
E)
None of the above are plausible descriptions.
Ans:
C
2. The demand curve for a normal good will shift to the left if:
A)
income increases.
B)
population increases
C)
the price of a substitute good decreases.
D)
all the above.
E)
none of the above.
Ans:
C
3. A price at which the amount people wish to buy exceeds the amount that people wish to produce
(given upward-sloping supply curves):
A)
lies above the equilibrium, market clearing price.
B)
lies below the market clearing price.
C)
will induce a shift in the demand schedule to achieve equilibrium.
D)
is impossible.
E)
is none of the above.
Ans:
B
4. An increase in the supply of commodity X for any given price of X could be expected to be
caused by
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
A)
an increase in the prices of other commodities.
B)
an increase in the prices of factors of production important to this commodity.
C)
a reduction in the prices of factors of production important to this commodity.
D)
an increase in consumer income.
E)
none of the above.
Ans:
C
5. Given
the
supply
and
demand
curves
drawn
for
a normal
good
in
Figure
3-2,
an
increase
in
income can be expected to cause:
A)
equilibrium price and quantity to increase.
B)
equilibrium price to increase and equilibrium quantity to fall.
C)
equilibrium price to increase while equilibrium quantity holds steady.
D)
equilibrium price and quantity to fall.
E)
equilibrium price to fall and equilibrium quantity to climb.
Ans:
A
6.
Let
P*
and Q*
represent
market
clearing
price
and quantity,
respectively.
Given
the
supply
and
demand
curves
drawn
in
Figure
3-2,
an
increase
in
the
price
of
an
input
employed
in
the
production of Q can be expected to cause:
A)
P* and Q* to climb.
B)
P* to climb while Q* falls.
C)
P* to climb while Q* holds steady.
D)
P* to fall while Q* climbs.
E)
P* and Q* to fall.
Ans:
B
7. An increase in price will lead to a lower quantity demanded because:
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
A)
suppliers will supply only the smaller amount.
B)
quality deteriorates.
C)
people will purchase less of the good.
D)
all of the above.
E)
none of the above.
Ans:
C
8. Upward-sloping supply curves are the result of:
A)
increasing returns to scale.
B)
increasing costs of production.
C)
changes in government policies.
D)
changes in technology.
E)
none of the above
Ans:
E
9. Suppose that at the current market price, the amount which producers wish to produce and sell
exceeds the amount that consumers wish to purchase.
This price:
A)
lies above the market clearing price.
B)
lies below the market clearing price.
C)
is impossible.
D)
will induce a shift in the demand schedule.
E)
none of the above.
Ans:
A
10. In a competitive market, the market clearing quantity is determined primarily by:
A)
the supply of the good.
B)
the cost of producing the good in question.
C)
the interaction of supply and demand.
D)
the decisions of the buyers as to how much they are willing to pay.
E)
all of the above.
Ans:
E
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
11.
Let P* and Q* in Figure 3-4 represent market clearing price and quantity, respectively.
Given the
supply and demand curves drawn in Figure 3-4, a reduction in the price of a substitute good for Q
can be expected to cause:
A)
P* and Q* to climb.
B)
P* to climb while Q* declines.
C)
P* to climb while Q* holds fixed.
D)
P* to fall while Q* climbs.
E)
P* and Q* to fall.
Ans:
E
12. Let P* and Q* represent market clearing price and quantity, respectively.
Given the supply
and demand curves drawn in Figure 3-4, a reduction in the price of an input used in the production
of Q can be expected to cause:
A)
P* and Q* to climb.
B)
P* to climb while Q* falls.
C)
P* to climb while Q* holds steady.
D)
P* to fall while Q* climbs.
E)
P* and Q* to fall.
Ans:
D
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
13. Assume that automotive workers go on strike, so that the production of cars falls.
Given the
supply and demand curves in Figure 3-5, which of the following would result in comparison to the
initial equilibrium position?
A)
Prices fall, Quantity falls
B)
Prices rise, Quantity falls
C)
Prices rise, Quantity rises
D)
Prices and Quantity do not change.
E)
None of the above.
Ans:
B
14. Assume that A represents demand for cars and B represents supply of cars.
If A:
P = 10,000
- 2Q and B:
P = 6000 + 2Q, the equilibrium price and quantity are:
A)
P = 1000, Q = 8000
B)
P = 800, Q = 100
C)
P = 8000, Q = 1000
D)
P = 100, Q = 800
E)
None of the above.
Ans:
C
15. An increase in demand means a movement to a higher price along a given demand curve.
Ans:
False
CHPA
TER 4
1. Rank the points A, B and C on the demand curve in the figure below in order of greatest to least
elasticity of demand.
A)
C, A, B.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
B)
B, A, C.
C)
A, B, C.
D)
They are of equal elasticity.
E)
More information is needed.
Ans:
C
2. An increase in supply will lower price unless:
A)
supply is perfectly price inelastic.
B)
demand is perfectly price elastic.
C)
it is followed by a reduction in quantity demanded.
D)
demand is highly price inelastic.
E)
both demand and supply are highly price inelastic.
Ans:
B
3. A straight-line demand curve has which of the following properties?
A)
Constant slope and varying price elasticity.
B)
Constant income elasticity with varying slope.
C)
Varying slope and varying cross elasticity.
D)
Constant slope and constant price elasticity.
E)
None of the above may be asserted in general.
Ans:
A
4. If the burden of an excise tax is shifted forward completely onto the consumer, we can say that:
A)
supply is perfectly price elastic.
B)
demand is perfectly price elastic.
C)
demand is more price elastic than supply.
D)
supply is price inelastic and demand is price elastic.
E)
none of the above.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Ans:
A
5.
In
housing
markets,
rent
controls
are
often
applied
to
hold
the
price
of
housing
to
a
level.
What
is
the
immediate
effect
of
this
price
policy
with
respect
to
the
allocative functions of prices, and the relative incomes of tenants and landlords?
A)
The allocative function of prices is impaired, but the tenants are prevented from gaining
at the expense of the landlords.
B)
The
allocative
function
of
prices
is
not
impaired,
and
the
tenants
are
prevented
from
gaining at the expense of landlords.
C)
The allocative function of prices is impaired, and the tenants who find housing gain at
the expense of landlords.
D)
The allocative function of prices is not impaired, but the landlords gain at the expense of
tenants who do not find housing.
E)
None of the above.
Ans:
C
6. The price elasticity of supply shown in Figure 4-8 between points A and B is:
A)
.1.
B)
.5.
C)
1.
D)
5.
E)
none of the above.
Ans:
C
7. Suppose that successive price reductions reduce total revenue.
The supplier faces a demand
curve that is, in this region:
A)
price elastic.
B)
unitary elastic.
C)
infinitely price elastic.
D)
indeterminate.
E)
price inelastic.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Ans:
E
8.
would raise wages for nearly 7 million underpaid workers, but would have no noticeable effect on
employment.
The
quotation
implies
that
the
demand
for
the
labor
services
of
the
7
million
workers mentioned, with respect to the price of labor services, has elasticity equal to:
A)
2.
B)
5.
C)
1.
D)
0.
E)
.5
Ans:
D
9. A horizontal demand curve may be described as:
A)
relatively price elastic.
B)
perfectly price inelastic.
C)
relatively price inelastic.
D)
perfectly price elastic.
E)
unit elastic.
Ans:
D
10. f a good is in fixed supply, then the incidence of a tax
A)
falls entirely on the consumers.
B)
falls mostly on the producers and partly on consumers.
C)
falls entirely on the producers.
D)
depends on the elasticity of demand.
E)
none of the above.
Ans:
C
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
11. Refer to the Figure 4-13.
What is the elasticity of the demand curve DD between points A
and B?
A)
3.67
B)
1.8
C)
1.0
D)
0.56
E)
None of the above
Ans:
A
12. Refer to Figure 4-13.
What is the elasticity of the demand curve DD between points B and
C?
A)
3.33
B)
1.8
C)
1.0
D)
0.56
E)
None of the above
Ans:
B
13. Refer to Figure 4-13.
What is the elasticity of the demand curve DD between points C and
D?
A)
3.33
B)
1.8
C)
1.0
D)
0.56
E)
None of the above
Ans:
C
14. If at a price of $$8, quantity bought will be 3300 per day, and at $$12, quantity bought will be
2700 per day, then the price elasticity of demand is approximately:
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
A)
0.4
B)
0.5
C)
0.7
D)
2.0
E)
2.5
Ans:
B
15.
Given
a
relatively,
but
not
perfectly,
price
elastic
supply
curve,
an
increase
in
demand
will
certainly:
A)
raise price but leave quantity sold unchanged.
B)
raise price and increase quantity sold.
C)
lower price, since supply cannot increase except through the inducement of higher price.
D)
reduce quantity sold but leave price unchanged.
E)
do none of the above, since
demand curve.
Ans:
B
CHAPTER 5
1.
In the figure below, the drop in consumer surplus resulting from an increase in price from 5 to
10 is given by the area:
A)
FGH
B)
CEH
C)
FGDC
D)
CEGF
E)
DEG
Ans:
D
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
2. A change in which of the following should not affect the demand for hot coffee?
A)
The price of coffee.
B)
The price of tea.
C)
Consumer incomes.
D)
The weather.
E)
All the above affect the demand for coffee.
Ans:
A
3. The paradox of value notes that:
A)
there is no rational explanation why people should set a high value on objects such as
diamonds, which have little real usefulness.
B)
the price obtained from selling any commodity may bear little relationship to the cost of
producing it.
C)
supply and demand curves do very little to explain how value (or price) is determined.
D)
no
one
consumer
has
any
control
over
the
price
(or
value)
of
a
commodity,
but
consumers collectively do have such control.
E)
there is no consistent relationship between the total utility obtained from any commodity
and the price charged for it.
Ans:
E
4. To be in equilibrium (i.e., to maximize satisfaction), the consumer must:
A)
purchase no inferior goods.
B)
equalize the marginal utilities of the last unit purchased of every commodity.
C)
be
sure
that
the
prices
of
all
commodities
purchased
are
proportional
to
their
total
utilities.
D)
be sure that the price of each good is equal to the marginal utility of money.
E)
allocate income so that the last penny spent on any good generates the same increment
of utility as the last penny spent on any other good.
Ans:
E
5. If I get 10 units of total utility (TU) from 2 oranges, 14 of TU from 3 oranges, and 17 of TU
from 4 oranges, I obey the law of diminishing marginal utility because:
A)
MU falls as consumption increases.
B)
TU increases as consumption increases.
C)
TU > MU.
D)
MU > TU.
E)
MU = TU.
Ans:
A
6. For a normal good, the substitution effect of a price increase:
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
A)
pushes the quantity demanded down along with the income effect.
B)
pushes the quantity demanded down enough that the income effect cannot push demand
higher.
C)
pushes
the
quantity
demanded
up,
but
not
enough
to
dominate
an
income
effect
that
ultimately pushes demand down.
D)
has an effect on the quantity demanded that is identical to the income effect.
E)
pushes the quantity demanded up along with the income effect.
Ans:
A
7.
Table 5-1
Total Utility
Units
1
2
3
4
5
Good X
120
216
288
336
360
Good Y
90
160
220
270
305
Refer to Table 5-1. If good X costs $$6 per unit and good Y costs $$5 per unit, at what quantities
of X and Y is utility maximized if the budget is $$31?
A)
X = 2, Y = 3
B)
X = 4, Y = 5
C)
X = 3, Y = 4
D)
X = 3, Y = 3
E)
None of the above
Ans:
D
8.
Refer
to
Table
5-1.
Suppose
now
X
costs
$$8
per
unit
and
Y
costs
$$5
per
unit.
For
what
amounts of X and Y are (marginal utility)/price equal?
A)
X = 3, Y = 4
B)
X = 4, Y = 5
C)
X = 2, Y = 3
D)
X = 1, Y = 2
E)
None of the above
Ans:
C
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
9. Refer to Figure 5-6.
What is total market demand at P = 5?
A)
0
B)
5
C)
10
D)
15
E)
None of the above
Ans:
B
10. Suppose Mary is currently spending all her income on cookies and milk.
The marginal utility
of cookies is 15, the price of cookies is $$5, the marginal utility of milk is 10, and the price of milk
is $$1.
To increase her total utility, Mary should:
A)
buy more cookies and less milk.
B)
buy more milk and fewer cookies.
C)
buy more of both goods.
D)
buy less of both goods.
E)
do nothing.
She is currently maximizing utility with her limited budget.
Ans:
B
11. The income effect describes:
A)
the percentage change in consumption of a good given some percentage change in the
price of another good.
B)
the fact that when the price of a good falls, consumers will substitute it into their market
baskets in place of relatively more expensive goods.
C)
the fact that when the price of a good falls, consumers will have more purchasing power
with the same nominal income.
D)
the effect of a change in consumer income on the quantity of a good demanded.
E)
an upward-sloping demand curve.
Ans:
C
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
12. Assume household income is $$30, the price of X is $$6 and the price of Y is $$3.
Refer to table
5-2.
What quantities of X and Y will be purchased by the household?
Marginal Utility
Units
1
2
3
4
5
6
7
Good X
72
48
30
24
18
12
6
Good Y
60
42
30
15
10
5
2
A)
X = 2, Y = 6
B)
X = 3, Y = 4
C)
X = 3, Y = 3
D)
X = 4, Y = 2
E)
None of the above
Ans:
B
13. A good which sells for a higher price than one which is more important for welfare reflects the
concept of:
A)
complementarity in demand.
B)
substitution.
C)
marginal or total utility.
D)
the paradox of value.
E)
law of diminishing marginal utility.
Ans:
D
14. At my equilibrium demand choices for goods 1 and 2:
A)
MU1 = MU2
B)
MU1/Q1 = MU2/Q2
C)
MU1/P1 = MU2/P2
D)
P1 = P2
E)
none of the above.
Ans:
C
15. The rule for rational budget allocation by a consumer is that the marginal utility of each good:
A)
purchased divided by its price must be equal.
B)
purchased multiplied by its price must be equal.
C)
must be zero.
D)
must be infinite.
E)
none of the above.
Ans:
A
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
CHAPTER 6
1. The marginal product of labor is the:
A)
output which it could produce unaided by machinery or other factors of production.
B)
extra revenue which a firm will get by selling the output of one additional worker.
C)
amount
of
extra
output
that
is
produced
when
one
extra
worker
is
added
to
a
fixed
amount of other factors.
D)
amount of extra output that is produced when one worker is added and other factors of
production are increased proportionately.
E)
none of the above.
Ans:
C
Total Product with
Various Input Combinations
Land
Labor
10
15
20
0
0
0
0
1
20
20.67
20.5
2
38
39.33
40.0
3
54
57.00
58.5
4
68
72.67
76.0
5
80
87.33
92.5
6
90
102.00
108.0
2. Suppose that production is defined by the function recorded in the table above.
The marginal
product of the 4th unit of labor, given 20 units of land, is equal to:
A)
15.5
B)
17.5
C)
19.0
D)
1.5
E)
none of the above
Ans:
B
3. Suppose that production is defined by the function recorded in the table above.
Given 6 units
of labor, the marginal product of increasing land from 10 units to 15 units is equal to:
A)
15.
B)
12.
C)
3.
D)
2.4.
E)
none of the above.
Ans:
D
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
4.
Suppose
that
production
were
represented
by
the
production
function
displayed
in
the
table
above.
You would conclude that:
A)
land displayed diminishing returns.
B)
labor displayed diminishing returns.
C)
production displayed constant returns to scale.
D)
all of the above were true.
E)
none of the above were true.
Ans:
D
5. The law of diminishing returns is expressed in terms of an eventual decline in the:
A)
total product of an input.
B)
average product of an input.
C)
marginal product of an input.
D)
returns to scale of an input.
E)
broadest general productivity measures only.
Ans:
C
6. The short run is a period of time so short that:
A)
output cannot be varied.
B)
at least one input is fixed.
C)
all inputs are fixed.
D)
all inputs are variable.
E)
none of the above.
Ans:
B
7. For the law of diminishing returns to hold, the missing blank in this table must be:
Quantity
Total
of Labor
Product
0
0
1
-
2
8
A)
4.
B)
2.
C)
more than 4.
D)
less than 4.
E)
0.
Ans:
C
8. Suppose that you have drawn a total product curve for labor given a specific technology.
Now
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
let
some
sort
of
technological
change
increase
the
productivity
of
labor.
A
new
total
product
curve would have to be drawn:
A)
above the old with a steeper slope for any level of employment greater than zero.
B)
above the old with a flatter slope for any level of employment greater than zero.
C)
below the old with a steeper slope for any level of employment greater than zero.
D)
below the old with a flatter slope for any level of employment greater than zero.
E)
directly
over
the
old
curve
signifying
no
change
in
the
total
product
graph;
only
the
marginal product graph would change.
Ans:
A
9. Suppose that production of a particular good requires two inputs, labor (L) and capital (K).
If
K
is
fixed,
which
of
the
panels
in
Figure
6-2
possibly
represent(s)
decreasing
marginal
productivity of labor?
A)
Panel a.
B)
Panel b.
C)
Panel c.
D)
All of the above.
E)
None of the above.
Ans:
B
10. Suppose that two inputs, K and L, are variable and increase at the same rate.
Which one of
the panels in Figure 6-2 represents Increasing Return to Scale (IRS)?
A)
Panel a.
B)
Panel b.
C)
Panel c.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
D)
Panel d.
E)
None of the above.
Ans:
C
11. The production function is a technical law which:
A)
relates dollar inputs to dollar outputs.
B)
indicates the best way to combine outputs in the marketplace.
C)
indicates the best level of output to produce.
D)
describes a relationship between inputs and output in a production process.
E)
relates marginal products to factor prices.
Ans:
D
12. Average product of labor measures:
A)
the addition to total output when an additional worker is hired.
B)
total product divided by total cost.
C)
the marginal product of the last worker multiplied by the wage rate.
D)
total product divided by the wage rate.
E)
total product divided by the quantity of labor.
Ans:
E
13. The employment of which of the following inputs might be adjusted in the short run?
A)
Physical capital.
B)
Number of hours worked by labor.
C)
Units of energy required per unit output.
D)
Units of material required per unit output.
E)
None of the above.
Ans:
B
14. When will the average product of labor increase?
A)
New technology improves the quality of capital used by labor.
B)
Marginal product of labor is increasing.
C)
Additional workers are hired.
D)
Both A and C.
E)
Both A and B.
Ans:
E
15. As businesses grow, their need for capital typically tends to:
A)
increase.
B)
decrease.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
C)
grow at the same rate as the business.
D)
remain unchanged.
E)
be accommodated automatically by the marketplace.
Ans:
A
CHAPTER 7
1. Given the curves shown in Figure 7-1, the marginal cost of the 3rd unit of output is:
A)
$$6.00.
B)
$$10.00.
C)
$$16.00.
D)
$$25.00.
E)
none of the above.
Ans:
A
2. Given the curves shown in Figure 7-1, the average variable cost of 3 units of output is:
A)
$$3.00.
B)
$$8.00.
C)
$$16.33.
D)
$$25.00.
E)
none of the above.
Ans:
B
3. If the total cost of producing 10 units is $$100 and the marginal cost of the eleventh unit is $$21,
then which of the following is NECESSARIL
Y true?
A)
Total variable costs of 11 units are $$121.
B)
Total fixed costs are $$79.
C)
The marginal cost of the tenth unit is more than $$21.
D)
The average total cost of 11 units is $$11.
E)
The average total cost of 12 units is $$12.
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Ans:
D
4.
Which
of
the
following
is
true
at
the
quantity
of
output
where
average
cost
has
reached
its
minimum level?
A)
A
VC = FC.
B)
MC = AVC.
C)
MC = AC.
D)
AC = AFC.
E)
Output price = A
VC.
Ans:
C
5. Diminishing returns to factors of production cause:
A)
diminishing opportunity costs.
B)
the ratio of fixed costs to total costs to increase.
C)
average fixed costs to decrease.
D)
marginal costs to rise.
E)
none of the above.
Ans:
D
6. If average variable cost is less than marginal cost, then:
A)
average total cost is rising.
B)
average total cost is constant.
C)
average total cost is falling.
D)
average variable cost is falling.
E)
average variable cost is rising.
Ans:
E
7.
Given the curves drawn in the figure below, what can we say about the marginal cost (MC)
curve?
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
8. If q = 1, 2, 3 units of output, and total consts are, cost, respectively, $$2, 3, 4, then in this range
of output marginal cost:
A)
is constant.
B)
is rising.
C)
is falling.
D)
is $$2, 1-1/2,1-1/3.
E)
can't be determined by the data given.
Ans:
A
9. If it costs $$30 to produce the first unit of a good and $$28, $$27, $$25, $$23,$$24, and $$25 to produce
the next six units, respectively, then the minimum of the average cost curve could occur at:
A)
1 unit.
B)
2 units.
C)
3 units.
D)
5 units.
E)
none of the above.
Ans:
E
Table 7-1
Quantity
Variable Cost
Total Cost
1
25
40
2
45
60
3
60
75
4
70
85
5
85
100
6
105
120
7
132
147
10. In Table 7-1, where is the minimum of the AC curve?
A)
Between Q = 3 and Q = 4
B)
Between Q = 4 and Q = 5
C)
Between Q = 5 and Q = 6
D)
Between Q = 6 and Q = 7
E)
Impossible to tell from the information given.
A)
MC is minimized at a quantity of output less than Q1
B)
MC is minimized at Q1
C)
MC increases until Ql and then begins to decrease.
D)
MC is maximized at Q2.
E)
None of the above.
Ans:
A
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
Ans:
C
11. What is MC between Q = 3 and Q = 4 in Table 7-1?
A)
10
B)
15
C)
20
D)
25
E)
None of the above.
Ans:
A
12. In Figure 7-3, the minimum of the AC curve occurs:
A)
between Q = 2 and Q = 3.
B)
between Q = 3 and Q = 4.
C)
at Q = 4.
D)
between Q = 4 and Q = 5.
E)
none of the above.
Ans:
B
13. In Figure 7-3 what is A
VC at Q = 5?
A)
9
B)
10
C)
12
D)
17.5
E)
None of the above.
Ans:
B
14. Which of the following is a true statement?
黄新飞
《微观经济学》复习模拟题
中山大学国际商学院
A)
In general, the book value, or net worth, will equal the market value of all common and
preferred stock outstanding.
B)
Accountants usually adhere to the convention that assets are valued at their original cost.
C)
Retained earnings correspond to a pool of liquid cash held by the firm.
D)
Paying for an inelastically supplied input is not an appropriate accounting cost.
E)
All the above are false.
Ans:
B
15. Marginal cost is the:
A)
total cost divided by the number of units produced.
B)
fixed cost divided by the number of units produced
C)
extra fixed cost of producing an additional unit of output.
D)
extra average cost of producing an additional unit of output.
E)
extra cost of producing an additional unit of output.
Ans:
E
CHAPTER 8
1. The long-run supply curve of an individual firm in perfect competition is the same thing as:
A)
the rising segment of its marginal cost curve, above average cost.
B)
the rising segment of its average cost curve.
C)
its entire average cost curve.
D)
that
entire
part
of
its
total
cost
curve
in
which
total
cost
rises
or
remains
constant
as
output increases.
E)
none of the above.
Ans:
A
2. Which panel in the figure below most accurately indicates by q* the level of output which a
single
supplier
in
a
perfectly
competitive
industry
will
produce,
given
it
produces
a
positive
amount?
-
-
-
-
-
-
-
-
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