微观经济学试题1-A卷

广东商学院试题纸200 –200 学年第学期A卷课程：微观经济学班级：共---4--页I. Concepts (30 points, 3 points each)(1)Efficiency(2)Opportunity cost(3)Productivity(4)Comparative advantage(5)Equilibrium(6)Elasticity(7)Consumer surplus(8)Externality(9)Price discrimination(10)Prisoners’ dilemmaII. Multiple Choices (20 points, 2 points each)(1). Economics is defined asa. the study of business.b. the study of how society manages its scarce resources.c. the study of central planning.d. the study of government regulation.(2). Which is the most accurate statement about trade?a. Trade makes some nations better off and others worse off.b. Trade can make every nation better off.c. Trading for a good can make a nation better off only if the nation cannotproduce that good.d. Trade helps rich nations and hurts poor nations.(3). Which of the following is the best statement about markets?a. Markets are usually a good way to organize economic activity.b. Markets are usually inferior to central planning as a way to organizeeconomic activity.c. Markets are flawed and are therefore not an acceptable way to organizeeconomic activity.d. Markets are a good way to organize economic activity in developed nations,but not in less-developed nations.(4). The term market failure refers toa. a firm which is forced out of business because of losses.b. an unsuccessful advertising campaign.c. a situation in which competition among firms becomes ruthless.d. a situation in which the market on its own fails to allocate resourcesefficiently.(5). Which of the following is the most accurate statement about economic models?a. Economic models attempt to mirror reality exactly.b. Economic models are useful, but should not be used for policy-making.c. Economic models cannot be used in the real world because they omitdetails.d. Economic models omit many details to allow us to see what is trulyimportant.(6). Which of the following is NOT correct?a. Trade allows for specialization.b. Trade is good for nations.c. Trade is based on absolute advantage.d. Trade allows individuals to consume outside of their individual productionpossibilities curve.(7). Which of the following would NOT shift the demand curve for a good orservice?a. a change in incomeb. a change in the price of a related goodc. a change in expectations about the price of the good or serviced. a change in the price of the good or service(8). If a consumer is willing and able to pay $15.50 for a particular good but theprice of the good is $16.00, thena. the consumer would have consumer surplus of $0.50.b. the consumer would not purchase the good and would not have anyconsumer surplus.c. the consumer would increase his/her willingness and ability to pay byearning more.d. the market must not be a perfectly competitive market.(9). A tax on a gooda. raises the price buyers pay and lowers the price sellers receive.b. raises the price buyers pay and raises the price sellers receive.c. lowers the price buyers pay and lowers the price sellers receive.d. lowers the price buyers pay and raises the price sellers receive.(10). XYZ corporation produced 300 units of output but sold only 275 of the unitsit produced. The average cost of production for each unit of output produced was $100. Each of the 275 units sold were sold for a price of $95. Total revenue for the XYZ corporation would bea. $30,000.b. $28,500.c. $26,125.d. -$3,875.III. Short Answers (20 points, 4 points each)(1)Why isn’t trade among countries like a game with some winners and somelosers?(2)Why do the demand curve slope downward and the supply curve slopeupward?(3)Why economists usually oppose controls on prices?(4)Why is a monopolists’ marginal revenue less than the price of its good?(5)Under what conditions will a firm exit a market? Why?IV. Applications (30 points, 6 points each)(1)In a supply and demand diagram, show producer and consumer surplus inthe market equilibrium.(2)Draw a production possibilities frontier for an economy that producescomputers and cars.b.Which is the profit maximization quantity?(4)Draw a diagram of monopoly’s profit.(5)Draw a circular-flow diagram.。