超星 - 第九章章节测试英文

单选题

Used cars sell for much less than new cars because

A. of imperfect competition in the automobile industry.
B. buyers know much more about the quality of used cars than sellers do.
C. sellers know much more about the quality of used cars than buyers do.
D. physical depreciation of used cars is very high.
E. of licensing arrangements by the government.

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单选题

The problem of adverse selection in insurance results in a situation in which

A. people choose inappropriate or inadequate coverage because they do not understand the complex information in the policies.
B. people choose too much coverage because they do not understand the complex information in the policies.
C. people choose too little coverage because they do not understand the complex information in the policies.
D. unhealthy people become more likely to buy insurance than healthy people, which drives premiums up, which drives even more healthy people away from the market.
E. healthy people become more likely to buy insurance than unhealthy people, which drives premiums up, which drives even more unhealthy people away from the market even though they are the ones who need it most.

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单选题

Julia is a 28-year-old nonsmoking, non-drinking female of normal weight. Because of adverse selection in health insurance,

A. She will be charged less for her premiums than people who are higher risks.
B. She is less likely to buy health insurance than the average person, because policy premiums are based on expected medical expenditures of people who are less healthy than she is.
C. When she get health insurance, she will be less likely to take care of herself.
D. She must get health insurance early in life, and is likely to lose health insurance if she smokes, drinks to excess, or gains weight.
E. She is more likely than the average person to buy health insurance, because she is more likely to be offered it.

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单选题

When sellers have more information about products than buyers do, we would expect

A. sellers to get higher prices for their goods than they could otherwise.
B. buyers to pay lower prices for goods than they would otherwise.
C. high-quality goods to drive low-quality goods out of the market.
D. low-quality goods to drive high-quality goods out of the market.

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单选题

Which of the following represent examples of adverse selection?

A. Unhealthy people are more likely to want health insurance.
B. Careless drivers purchasing extra auto insurance.
C. Risk averse individuals choosing to buy extra insurance.
D. all of the above
E. A and B only

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单选题

Externalities

A. are not reflected in market prices, so they can be a source of economic inefficiency.
B. do become reflected in market prices, so they can be a source of economic inefficiency.
C. are not reflected in market prices, so they do not adversely affect economic efficiency.
D. do become reflected in market prices, so they do not adversely affect economic efficiency.
E. may or may not become reflected in market prices, but do not have an impact on economic efficiency in either event.

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单选题

When there are externalities, economic efficiency can be achieved without government intervention

A. at no time.
B. when the externality affects many people and property rights are not well defined.
C. when the externality affects many people and property rights are well defined.
D. when the externality affects only a few parties and property rights are not well defined.
E. when the externality affects only a few parties and property rights are well defined.

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单选题

Common property rights

A. increase efficiency over individual property rights.
B. enable the Coase theorem to work.
C. are responsible for the increasing success of preservation of African elephants.
D. are responsible for the increasing success of preservation of worldwide fishing resources.
E. result in faster depletion of resources than do individual property rights.

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单选题

Which of the following move the handling of a common property resource closest to efficiency?

A. ensuring that the sellers of the resource are perfectly competitive
B. ensuring that the seller of the resource is a monopolist
C. banning the sale of the resource
D. banning the use of the resource
E. assigning a usage fee for access to the resource

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单选题

Common property resources tend to be

A. overused.
B. underused.
C. not used at all.
D. efficiently used.
E. used by the government only.

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