经济学：市场结构和宏观经济分析(一)及答案解析.doc

1、经济学：市场结构和宏观经济分析(一)及答案解析(总分：44.00，做题时间：90 分钟)一、B单项选择题/B(总题数：44，分数：44.00)1.Oligopolists have an incentive to cheat on collusive agreements in order to: A. avoid competitive practices. B. restrain trade and hinder trade relationships. C. increase their individual share of the joint profit.（分数：1.00）A.B.

2、C.D.2.Which type of unemployment describes situations where qualified workers are not immediately matched with existing job openings? A. Structural. B. Cyclical. C. Frictional.（分数：1.00）A.B.C.D.3.The demand for a given resource will most likely decrease if the prices of substitute resources and compl

3、ementary resources, respectively: Prices of substitute resources Prices of complementary resources A. Increase Increase B. Increase Decrease C. Decrease Increase A. B. C. （分数：1.00）A.B.C.D.4.A practice whereby a seller charges different prices to different consumers of the same product or service is

4、called: A. price discrimination. B. price competition. C. fractional pricing.（分数：1.00）A.B.C.D.5.When workers agree to forego leisure to undertake labor and receive wages, the term that is applied in labor supply economics is the: A. substitution effect. B. income effect. C. marginal rate of substitu

5、tion.（分数：1.00）A.B.C.D.6.In a CFA study seminar, the following comments were made: Comment 1: “In the short run, an increase in demand in a perfectly competitive industry will result in negative economic profit for some firms in the industry. “ Comment 2: “In the long run, a permanent increase in dem

6、and in a perfectly competitive industry will result in zero economic profit for the firms in the industry. “ Which of the following best describes the accuracy of these comments? Comment 1 Comment 2 A. Correct Correct B. Correct Incorrect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C.D.7.The kinked d

7、emand model assumes that at prices above the current price, the demand curve becomes: A. more elastic because competitors will increase their prices. B. less elastic because competitors will not increase their prices. C. more elastic because competitors will not increase their prices.（分数：1.00）A.B.C.

8、D.8.Junior economists Diane Foreman and Les Harlan are discussing the concepts of aggregate hours and real wage rates and how they relate to real GDP. They state the following: Foreman: Aggregate hours are a more accurate measure of total labor input than the number of people employed. Aggregate hou

9、rs tend to be positively correlated with real GDP growth. Harlan: Real wage rates have not increased as much over time as the productivity of labor, but that is largely because a greater share of labor compensation now comes in the form of employer-paid benefits. Are Foreman and Harlan correct? Fore

10、man Harlan A. Correct Correct B. Correct Incorrect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C.D.9.If the market demand for a product decreases in a competitive market, then the quantity supplied by an individual firm will: A. decrease and firms will exit the market in the long run. B. decrease and

11、 firms will enter the market in the long run. C. increase and firms will enter the market in the long run.（分数：1.00）A.B.C.D.10.Which of the following is NOT a characteristic of the long-run industry supply curve? A. The long-run supply curve is less elastic than the short run supply curve. B. The lon

12、g-run supply curve is flatter than the short-run supply curve. C. In the long run, there will be a greater change of quantity supplied for a given price change, than in the short run.（分数：1.00）A.B.C.D.11.Which of the following is most likely to be considered a characteristic of an oligopolistic indus

13、try? A. Few barriers to entry. B. Few economies of scale. C. A great deal of interdependence among firms.（分数：1.00）A.B.C.D.12.If an oligopoly is characterized by fierce competition, in long-run equilibrium the firms in the market will earn: A. zero economic profits. B. substantial economic losses. C.

14、 substantial economic profits.（分数：1.00）A.B.C.D.13.The short-run supply curve for a price taker firm is the portion of the marginal: A. cost (MC) curve below the average variable cost (AVC) curve. B. cost (MC) curve above the average total cost (ATC) curve. C. cost (MC) curve above the average variab

15、le cost (AVC) curve.（分数：1.00）A.B.C.D.14.Consider the following statements: Statement 1: “When oligopoly firms cheat on price fixing agreements, the resulting price and output quantity approaches that of perfect competition. “ Statement 2: “Monopolistic competition is inefficient because a large dead

16、weight loss from advertising and marketing costs is a characteristic of this form of competition. “ Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 A. Incorrect Correct B. Correct Incorrect C. Correct Correct A. B. C. （分数：1.00）A.B.C.D.15.Which of the f

17、ollowing is least likely to be considered a reason why regulation of monopolies is not effective? A. Regulators do not know the firms cost structure. B. Regulation shifts industry demand and increases prices. C. Regulation reduces the incentive for firms to reduce costs.（分数：1.00）A.B.C.D.16.Which of

18、the following statements is most accurate regarding monetarists? Monetarists believe that: A. discretionary monetary policy is the best way to moderate fluctuations in prices and output. B. steady, predictable money growth is the best monetary policy. C. the Federal Reserve has very little power wit

19、h the tools at their disposal.（分数：1.00）A.B.C.D.17.When economists are speaking of the labor-force participation rate, they are referring to which of the following? The labor-force participation rate is the percentage of the: A. labor force who are new entrants ( less than one year of work experience

20、). B. working-age population who are not working but are actively looking for work. C. working-age population who are either working or actively looking for work.（分数：1.00）A.B.C.D.18.According to the Keynesian view, an increase in which of the following would most likely decrease current aggregate de

21、mand? A. Budget deficit. B. Transfer payments. C. Personal income tax rates.（分数：1.00）A.B.C.D.19.Consider a price fixing agreement between Spain and Italy that restricts cheese production such that maximum economic profit will be realized by both countries. The possible outcomes of the agreement are

22、presented in the table below. Based on the Prisoners dilemma framework, the most likely strategy followed by the two countries will be:（分数：1.00）A.B.C.D.20.The current annual inflation rate, as measured by using the Consumer Price Index (CPI), is best defined as: A. increase in the CPI from a year ag

23、o. B. percentage change in the CPI from its base period. C. percentage change in the CPI from a year ago.（分数：1.00）A.B.C.D.21.Which of the following changes would most likely decrease a firms demand for labor? A. Technological improvement in the firms production process. B. Decrease in the price of t

24、he firms product. C. Increase in the price of a productive input that is a substitute for labor.（分数：1.00）A.B.C.D.22.An economist is developing a regression model of real GDP as a function of labor input. She needs to select a time series that represents the total amount of labor performed in a year.

25、 Which of the following is the most appropriate indicator of total labor performed that she can use for this model? A. Aggregate hours. B. Average workweek. C. Number of employed.（分数：1.00）A.B.C.D.23.In perfectly competitive constant-cost industries and perfectly competitive increasing-cost industrie

26、s, respectively, what is the most likely long-run effect of a permanent increase in demand? ncreasing-cost industry Constant-cost industry A. price decreases price decreases B. price decreases price remains unchanged C. price remains unchanged price decreases A. B. C. （分数：1.00）A.B.C.D.24.The effects

27、 on the aggregate demand curve of an increase in expected future incomes and of an increase in the money supply, respectively are most likely: Increase in expected incomes Increase in money supply A. Increase Increase B. Increase Decrease C. Decrease Increase A. B. C. （分数：1.00）A.B.C.D.25.Characteris

28、tics of monopolistic competition include all of the following EXCEPT: A. differentiated products. B. high barriers to entry. C. large numbers of independent sellers.（分数：1.00）A.B.C.D.26.Which of the following factors is least likely to affect the supply of labor? A. Wages offered. B. The aggregate re

29、quirement for labor. C. The size of the adult population.（分数：1.00）A.B.C.D.27.Which of the following statements about a monopolist is most accurate? A monopolist will: A. earn economic profits in all situations. B. maximize the average profit per unit sold. C. sell at the output level where marginal

30、revenue equals marginal cost.（分数：1.00）A.B.C.D.28.The decision whether to add capital equipment to the production process should be based on: A. future value, using the cost of financial capital as a benchmark. B. present value, using the marginal revenue product of capital as a benchmark. C. present

31、 value, using the cost of financial capital as a benchmark.（分数：1.00）A.B.C.D.29.Which of the following statements regarding the supply of labor is least accurate? A. The income effect of a wage increase is to decrease the amount of labor supplied. B. Capital goods that increase productivity in the ho

32、me can affect the supply of labor positively. C. Other things equal, an increase in the wage rate will lead to an increase in the amount of labor an individual will supply.（分数：1.00）A.B.C.D.30.Which of the following statements is least accurate with regard to the efficiency of monopolistic competitio

33、n ? A. Consumers benefit from brand name promotion and advertising. B. Promotion and advertising enable consumers to make more informed decisions. C. Monopolistic competition is at least as efficient as perfect competition.（分数：1.00）A.B.C.D.31.The demand curves faced by monopolistic competitors is: A

34、. inelastic due to the availability of many complementary goods. B. elastic due to the availability of many close substitutes. C. flat due to the allocative efficiency of price searcher markets.（分数：1.00）A.B.C.D.32.Consider the following statements: Statement 1: “A natural monopoly exists when econom

35、ies of scale are so pronounced that all of an industrys demand should be supplied by one firm. “ Statement 2: “Monopoly is characterized by a single seller of a distinct product for which no good substitutes exist. “ Statement 3: “Average cost pricing is a form of regulation that is intended to forc

36、e monopolists to reduce output to the point where the monopolists average total cost curve intersects its marginal cost curve. “ Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 Statement 3 A. Incorrect Correct Incorrect B. Correct Incorrect Correct C.

37、Correct Correct Incorrect A. B. C. （分数：1.00）A.B.C.D.33.At a recent symposium, “The Great Economic Debate of the Decade“ several panelists were asked to state their opinions on aggregate demand and aggregate supply. Panelist 1 stated that he believed shifts in both aggregate demand and aggregate supp

38、ly were driven primarily by changes in technology over time. Panelist 2 stated that she believed the focus of economic policy should be to directly increase aggregate demand by increasing the money supply or through fiscal policy. The views of Panelist 1 and Panelist 2 would best be described as whi

39、ch economic school of thought? Panelist 1 Panelist 2 A. Monetarist Classical B. Keynesian New Keynesian C. Classical Keynesian A. B. C. （分数：1.00）A.B.C.D.34.If the economy is in short-run equilibrium above the full-employment level of output, what is the most likely adjustment that will restore the e

40、conomy to long-run equilibrium? A. Money wages and resource prices will increase. B. The price level for final goods and services will decrease. C. Long-run aggregate supply will increase.（分数：1.00）A.B.C.D.35.Rajiv Moulin, an economist at the Central Bank of New Delhi , was asked to calculate a consu

41、mer price index (CPI). He was provided the data below for a basket of goods for a recent one-year period: Category Quantity Price in base periodCurrent pricePizza 300 2.00 2.50Milk 150 3.00 3.50Bread 500 2.25 3.00S0da 200 2.00 3.00What is the CPI in the current period if the base period CPI is 100?

42、A. 131. B. 106. C. 252.（分数：1.00）A.B.C.D.36.Which of the following is NOT a characteristic of an oligopoly? A. There are few sellers. B. High barriers to entry. C. Relatively small economies of scale.（分数：1.00）A.B.C.D.37.A competitive firm will tend to expand its output as long as marginal: A. revenue

43、 is greater than marginal cost. B. revenue is greater than the average cost. C. cost is less than average cost.（分数：1.00）A.B.C.D.38.An oligopolistic firm: A. will consider the potential response of its rivals when making business decisions. B. is likely to be formed when the minimum-cost output is on

44、ly a small portion of the market output. C. is likely to be formed when barriers to entry are low.（分数：1.00）A.B.C.D.39.Consider the following statements: Statement 1: “The sum of consumer and producer surpluses is maximized under both monopoly and perfect competition. “ Statement 2: “All else being e

45、qual, a monopolist that practices price discrimination will be more allocatively efficient than a single-price monopolist. “ Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 A. Incorrect Correct B. Correct Correct C. Correct Incorrect A. B. C. （分数：1.00）

46、A.B.C.D.40.In the long-run, a firm operating under perfect competition will: A. generate zero economic profit. B. face a vertical demand curve. C. become a price-searcher.（分数：1.00）A.B.C.D.41.Which of the following characteristic of perfect competition explains why firms in perfect competition are re

47、ferred to as price takers? A. Each firm is small relative to the total market. B. The demand curve is horizontal for firms in perfect competition. C. There are many independent firms.（分数：1.00）A.B.C.D.42.Given the following information for a country, what is the labor force participation rate? Total

48、civilian population 16 and over 210Those not in the labor force 50Unemployed 8Employed 152 A. 95%. B. 72%. C. 76%.（分数：1.00）A.B.C.D.43.The consumer price index tends to: A. overstate the inflation rate, because its market basket is fixed and does not consider that consumers will substitute away from

49、goods that have risen dramatically in price. B. overstate the inflation rate because its market basket is variable and takes into consideration that consumers will substitute away from goods that have risen dramatically in price. C. understate the inflation rate because its market basket is fixed and does not consider that consumer