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1、Test Bank to accompany Rosens Public Finance, Seventh EditionChapter 2CHAPTER 2 - Tools of Positive AnalysisMultiple-Choice Questions1.Positive economicsa)does not depend on market interactions.b)only looks at the best parts of the economy.c)examines how the economy actually works (as opposed to how
2、 it should work).d)is very subjective.2.The Law of Demand statesa)that there is an inverse relationship between price and quantity demanded.b)that the judicial branch of government sets demand schedules.c)that laws can have no effect on market economies.d)none of the above.3.The function Y = f(X,Z)
3、meansa)X multiplied by Y equals f.b)X + Y = Z.c)Y is a function of both X and Z.d)none of the above.4.If there is a function and one component is Y3, then there is a _ in the function.a)square rootb)cubicc)cosined)circlee)all of the above5.Refer to Question 4 above. The equation containing Y3 would
4、bea)linear.b)quadratic.c)a Nash equilibrium.d)inefficient.e)nonlinear.6.Marginal and average taxes area)calculated using the same methodology.b)not used in modern tax analysis.c)not calculated using the same methodology.d)all of the above.7.The slope of a regression line is calculated by dividinga)t
5、he intercept by the change in horizontal distance.b)the change in horizontal distance by the change in vertical distance.c)the change in horizontal distance by the intercept term.d)the change in vertical distance by the change in horizontal distance.e)none of the above.8.Unobserved influences on a r
6、egression are captured in thea)error term.b)parameters.c)regression line.d)significance term.e)regression coefficient.9.The following can be analyzed using econometrics:a)labor supply.b)market demand.c)taxsetting behavior.d)poverty.e)all of the above.10.Normative economicsa)does not depend on market
7、 interactions.b)only looks at the best parts of the economy.c)examines how the economy actually works (as opposed to how it should work).d)embodies value judgments.11.The Latin phrase ceteris paribus meansa)let the buyer beware.b)other things being the same.c)swim at your own risk.d)whatever will be
8、 will be.12.The substitution effecta)is when individuals consume more of one good and less of another.b)is associated with changes in relative prices.c)will have no effect if goods are unrelated.d)is all of the above.13.Selfselection bias affects empirical estimation bya)leading to samples that are
9、not representative of the entire population.b)making estimators improved.c)increasing the accuracy of test results.d)doing none of the above.14.When different bundles of commodities give the same level of satisfaction, you area)said to be indifferent between the bundles.b)said to be confused.c)not a
10、ble to make a decision.d)unhappy with any combination.e)none of the above.15.The marginal rate of substitution isa)the slope of the utility curve.b)the slope of the contract curve.c)the slope of the utility possibilities curve.d)none of the above.Discussion Questions1.Suppose that a competitive firm
11、s marginal cost of producing output q is given by MC=2+2q. Assume that the market price of the firms product is $13.a)What level of output will the firm produce?b)What is the firms producer surplus?2.Use the following function for elasticity: e = -(1/s)(P/X), where s is the slope of the demand curve
12、, P is the price, and X is the quantity demanded, to find elasticity when demand is Xd= 22-(1/4)P when the price of good X is 20.3.Imagine that the demand for concert tickets can be characterized by the equation Xd = 7 P/5. The supply of tickets can be written as Xd = -2 + P/5. Find the equilibrium
13、price and quantity of concert tickets.True/False/Uncertain Questions1.Empirical analysis generally deals with theory and little data.2.Economists attempt, with moderate success, to perform controlled experiments making policy analysis helpful.3.Regression coefficients are indicators of the impact of
14、 independent variables on dependent variables.4.Primary data sources include information gathered from interviews and experiments.5.Multiple regression analysis typically requires several computers.6.Econometrics is the statistical analysis of economic data.7.Theory is always necessary for empirical
15、 research.8.The demand for a good is not affected by the demand for a related good.9.Equilibrium in the market is where supply is equal to demand.10.A model is a simplified description of some aspect of the economy.Essay Questions1.“Since the social sciences are not like the natural sciences, experiments are a waste of time.” Comment on the above statement.2.Discuss the concept in econometrics that
