超星 - 微观经济学2019-2020第2学期期中考试

单选题

Among the sources of economic inefficiency are all of the following EXCEPT

A.price regulations.
B.rapid technological change.
C.monopoly.
D.taxes and subsidies.

单选题

The elasticity of supply measures the sensitivity of

A.quantity supplied to a change in price.
B.quantity supplied to quantity demanded.
C.supply to changes in costs.
D.price to changes in supply.

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单选题

The statement that ( ) is a positive statement.

A.too many people in the United States have no health care insurance
B.more students should study economics
C.the price of gasoline is too high
D.the price of sugar in the United States is higher than the price in Australia

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单选题

The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bottle of soda?

A.1/3 bag of corn chips per bottle of soda
B.3 bags of corn chips per bottle of soda
C.33¢
D.$3

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单选题

If buyers of illegal goods are punished but sellers are not, then the price ( ) and the equilibrium quantity ( ).

A.rises; increases
B.falls; decreases
C.falls; increases
D.rises; decreases

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单选题

In the market for oranges, the demand and supply of oranges decrease by the same amount. The equilibrium quantity will ( ) and the equilibrium price will ( ).

A.decrease; not change
B.remain the same; either rise or fall
C.decrease; fall
D.remain the same; rise

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单选题

When the price of a pizza decreases from $14 to $12,

A.the income effect means that the demand for pizza will not change.
B.None of the above answers is correct.
C.the income effect points out that the total purchasing power of people who buy pizza increases.
D.the income effect means people buy less pizza.

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单选题

The existence of a shortage

A.pushes the price up.
B.pushes the price down.
C.is impossible in a market economy.
D.means resources are being allocated efficiently.

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单选题

The Occupy Wall Street movement advocates

A.centrally planned socialism.
B.following the teachings of Adam Smith.
C.a shift away from market capitalism.
D.a shift towards more market capitalism.

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单选题

Because of an increase in the price of leather, the price of a pair of women's dress shoes increased 12 percent. If the price elasticity of demand for women's dress shoes is 0.85, which of the following will happen?

A.The number of pairs of women's dress shoes demanded decreases by 10.2 percent.
B.Total expenditure on women's dress shoes decreases.
C.Total revenue from the sale of women's dress shoes decreases.
D.none of the above

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