超星 - 微观经济学2019-2020第2学期期中考试

单选题

The income elasticity of demand for restaurant meals is 1.61. So,

A.restaurant meals are an income elastic normal good.
B.Both answers B and C are correct.
C.if income increases by 16.1 percent, the quantity demanded of restaurant meals will increase by 10 percent.
D.if income increases by 10 percent, the quantity demanded of restaurant meals will increase by 16.1 percent.

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单选题

Marginal cost is the

A.None of the above answers is correct.
B.extra benefit that people receive from producing one more unit of a good or service.
C.maximum amount consumers are willing to pay for one more unit of a good or service.
D.opportunity cost of producing one more unit of a good or service.

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单选题

In goods markets ( ) and in factor markets ( ).

A.firms sell to households; households sell to firms
B.households sell to firms; firms sell to households
C.firms sell to households; firms sell to households
D.households sell to firms; households sell to firms

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单选题

When allocating resources using market price,

A.everyone who is able to pay for a good gets one.
B.everyone who wants a good gets one.
C.everyone who is willing and able to pay for a good gets one.
D.everyone who is willing to pay for a good gets one.

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单选题

In every economic system, choices must be made because resources are ( ) and our wants are ( ).

A.unlimited; unlimited
B.limited; limited
C.limited; unlimited
D.unlimited; limited

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单选题

Suppose that for the past two months, you have studied economics one hour a day. You now decide to study economics two hours a day. For the past two months, ( ).

A.the opportunity cost of studying economics must have risen.
B.the marginal cost of studying economics must have fallen
C.your marginal cost of studying economics for an hour must have exceeded its marginal benefit
D.your marginal benefit from studying economics an hour must have been greater than its marginal cost

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单选题

The opportunity cost of economic growth is

A.future consumption that a nation gets if it gives up some present consumption.
B.present consumption that a nation gives up to accumulate capital.
C.future consumption that a nation gives up to consume more today.
D.present investment that a nation gives up to increase its economic growth.

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单选题

When the competitive market is using its resources efficiently, the

A.total amount of consumer surplus is maximized.
B.sum of the total amount of consumer surplus plus the total amount of producer surplus equals zero.
C.total amount of producer surplus is maximized.
D.sum of the total amount of consumer surplus plus the total amount of producer surplus is maximized.

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单选题

Which of the following correctly defines utilitarianism?

A.The difference between what a consumer is willing to pay and what actually has to be paid.
B.Equality will not result in efficient outcomes.
C.Cost will increase if production increases.
D.Society should strive to achieve the greatest good for the greatest number.

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单选题

When a market is in equilibrium,

A.the supply curve has the same slope as the demand curve.
B.there is no shortage and no surplus at the equilibrium price.
C.the number of buyers is exactly equal to the number of sellers.
D.everyone has all they want of the commodity in question.

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