超星 - Market Efficiency and Government Intervention

单选题

Figure 6.7 shows the supply and demand curves for human kidneys. If the government allowed the market to seek equilibrium, then:

A. 50 kidneys are donated
B. 30 kidneys are donated
C. 20 kidneys are donated.
D. 0 kidneys are donated.

单选题

Figure 6.7 shows the supply and demand curves for human kidneys. If the government set the price of a kidney at $5,000, then:

A. 50 kidneys would be purchased
B. 300 kidneys would be purchased.
C. 5000 kidneys would be purchased
D. 0 kidneys would be purchased.

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单选题

When a tax is levied on a good or service:

A. buyers and sellers generally share the burden of the tax.
B. buyers always bear the burden of the tax.
C. sellers always bear the burden of the tax.
D. sellers bear some of the burden of the tax only if supply is perfectly elastic.

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单选题

If the supply of land were perfectly inelastic, a tax on land would be paid:

A. partly by sellers and partly by buyers.
B. entirely by sellers.
C. entirely by buyers.
D. It is impossible to determine given this information.

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单选题

Consider a market with a downward sloping demand curve and an upward sloping supply curve. A $50 tax levied on the producer of the good will cause the market price to:

A. increase by $50
B. decrease by $50.
C. increase by less than $50.
D. increase by more than $50.

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单选题

Suppose you receive a consumer surplus of $50. The $50 represents:

A. a monetary payment from the store.
B. a monetary payment from the government.
C. a reduction in the original price of the good.
D. the fact that you paid $50 less than you were willing to pay for the good.

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单选题

Assume that linen pants are a normal good and consumer income rises. If the supply of linen pants remains constant, producer surplus:

A. will decrease.
B. will increase.
C. will remain constant.
D. may increase or decrease depending on the amount of the price increase.

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单选题

Suppose that the government sets a maximum price for insulin below the equilibrium price:

A. there will be an efficient level of insulin produced.
B. there will be excess supply of insulin.
C. total surplus will be lower than it would be at the market equilibrium price.
D. total surplus will be greater than it would be at the market equilibrium price.

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单选题

At the market equilibrium, resources are allocated efficiently because:

A. the marginal cost of producing another unit is equal to zero.
B. the price buyers pay accurately reflects the marginal cost of the resources used to produce the good
C. the price buyers pay is greater than sellers' willingness to sell.
D. all of the above.

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单选题

The consumer surplus of electric toothbrushes can be decreased by:

A. a shift in the supply curve for electric toothbrushes due to a cheaper production process.
B. a fall in the price of electric toothbrushes.
C. government imposed price ceilings on electric toothbrushes
D. a rise in the price of electric toothbrushes.

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