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1、MICROECONOMICS1990微观经济试题1990APMicroeconomicsExaminationMICROECONOMICSSectionITime60minutes50QuestionsDirections:Eachofthequestionsorincompletestatementsbelowisfollowedbyfivesuggestedanswersorcompletions.Selecttheonethatisbestineachcaseandplacetheletterofyourchoiceinthecorrespondingboxonthestudentans
2、wersheet.1. Problemsfacedbyalleconomicsystemsincludewhichofthefollowing?I.HowtoallocatescarceresourcesamongunlimitedwantsII.HowtodecentralizemarketsIII.Howtodecidewhattoproduce,howtoproduce,andforwhomtoproduceIV.HowtosetgovernmentproductionquotasA.onlyB.andonlyC.andonlyD.,andonlyE.,andonly2. Whichof
3、thefollowingwouldnecessarilycauseafallinthepriceofaproduct?A.AnincreaseinpopulationandadecreaseinthepriceofaninputB.AnincreaseinpopulationandadecreaseinthenumberoffirmsproducingtheproductC.AnincreaseinaverageincomeandanimprovementinproductiontechnologyD.Adecreaseinthepriceofasubstituteproductandanim
4、provementinproductiontechnologyE.Adecreaseinthepriceofasubstituteproductandanincreaseinthepriceofaninput3. Themarketequilibriumpriceofhomeheatingoilis$1.50pergallon.Ifapriceceilingof$1.00pergallonisimposed,whichofthefollowingwilloccurinthemarketforhomeheatingoil?I.Quantitysuppliedwillincrease.II.Qua
5、ntitydemandedwillincrease.III.Quantitysuppliedwilldecrease.IV.Quantitydemandedwilldecrease.A.onlyB.andonlyC.andonlyD.andonlyE.andonly4.Supposethatafamilybuysallitsclothingfromadiscountstoreandtreatstheseitemsasinferiorgoods.Undersuchcircumstances,thisfamilysconsumptionofdiscountstoreclothingwillnece
6、ssarilyA.increasewhenafamilymemberwinsthestatelottery/11990APMicroeconomicsExaminationB.increasewhenafamilymembergetsaraiseinpayatworkC.remainunchangedwhenitsincomerisesorfallsduetoeventsbeyondthefamilyscontrD.decreasewhenafamilymemberbecomesunemployedE.decreasewhenafamilymemberexperiencesanincrease
7、inincome5. Whichofthefollowingdescribeswhatwillhappentomarketpriceandquantityiffirmsinaperfectlycompetitivemarketformacartelandactasaprofit-maximizingmonopoly?PriceQuantityA.DecreaseDecreaseB.DecreaseIncreaseC.IncreaseIncreaseD.IncreaseDecreaseE.IncreaseNochange6.QuantityProducedTotalCost0$511722834
8、1461591BarneysBaitCompanycansellalltheluresitproducesatthemarketpriceof$14.Onthebasisofthecostinformationinthetableabove,howmanyluresshouldthebaitcompanymake?A. 1B. 2C. 3D. 4E. 57.AnaturalmonopolyoccursinanindustryifA.economiesofscaleallowatmostonefirmofefficientsizetoexistinthatmarketB.asinglefirmh
9、ascontroloverascarceandessentialresourceC.asinglefirmproducesinputsforusebyotherfirmsD.asinglefirmhasthetechnologytoproducetheproductsoldinthatmarketE.above-normalprofitspersistintheindustry8. Thetypicalfirminamonopolisticallycompetitiveindustryearnszeroprofitinlong-runequilibriumbecauseA.advertisin
10、gcostsmakemonopolisticcompetitionahigh-costmarketstructureratherthanalow-costmarketstructureB.thefirmsintheindustrydonotoperateattheminimumpointontheirlong-runaveragecostcurvesC.therearenorestrictionsonenteringorexitingfromtheindustryD.thefirmsintheindustryareunabletoengageinproductdifferentiation21
11、990APMicroeconomicsExaminationE.thereareclosesubstitutesforeachfirmsproduct9. Whichofthefollowinginevitablycausesashiftinthemarketdemandforworkerswithacertainskill?A.AnincreaseinthedemandforgoodsproducedbytheseworkersB.AdecreaseintaxratesontheincomeoftheseworkersC.Anincreaseintheequilibriumwagesrece
12、ivedbytheseworkersD.AnincreaseinthesupplyoftheseworkersE.Thecreationofafederallysubsidizedprogramtotrainnewworkers10.Ifhiringanadditionalworkerwouldincreaseafirmstotalcostbylessthanitwouldincreaseitstotalrevenue,thefirmshouldA.nothiretheworkerB.hiretheworkerC.hiretheworkeronlyifanotherworkerleavesor
13、ishiredD.hiretheworkeronlyiftheworkercanraisethefirmsproductivityE.reducethenumberofworkersemployedbythefirm11. Ifafirmwantstoproduceagivenamountofoutputatthelowestpossiblecost,itshoulduseeachresourceinsuchamannerthatA.itusesmoreofthelessexpensiveresourceB.itusesmoreoftheresourcewiththehighestmargin
14、alproductC.eachresourcehasjustreachedthepointofdiminishingmarginalreturnsD.themarginalproductsofeachresourceareequalE.themarginalproductsperdollarspentoneachresourceareequal12. InwhichofthefollowingwaysdoestheUnitedStatesgovernmentcurrentlyinterveneintheworkingofthemarketeconomy?I. Itproducescertaingoodsandservices.II.Itregulatedtheprivatesectortoachieveamoreefficientallocationofresources.III.Itredistributesincomethroughtaxationandpublicexpenditures.A. onlyB. onlyC. onlyD. andonlyE. ,and13. Ifitwerepossibletoincreasetheoutputofmilitarygoodsandsimultaneouslytoinc
