经济学原理 微观 第五版测试题库 概要.docVIP

Chapter 4 The Market Forces of Supply and Demand TRUE/FALSE 1. Prices allocate a market economy’s scarce resources. ANS: T DIF: 1 REF: 4-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market economies MSC: Definitional 2. In a market economy, supply and demand determine both the quantity of each good produced and the price at which it is sold. ANS: T DIF: 1 REF: 4-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market economies MSC: Definitional 3. A market is a group of buyers and sellers of a particular good or service. ANS: T DIF: 1 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Markets MSC: Definitional 4. Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product. ANS: F DIF: 1 REF: 4-1 NAT: Analytic LOC: Supply and demand TOP: Demand | Supply MSC: Definitional 5. A yard sale is an example of a market. ANS: T DIF: 2 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Markets MSC: Applicative 6. A newspaper’s classified ads are an example of a market. ANS: T DIF: 2 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Markets MSC: Applicative 7. Most markets in the economy are highly competitive. ANS: T DIF: 1 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Markets MSC: Definitional 8. In a competitive market, the quantity of each good produced and the price at which it is sold are not determined by any single buyer or seller. ANS: T DIF: 1 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Competitive markets MSC: Definitional 9. In a competitive market, there are so few buyers and so few sellers that each has a significant impact on the market price. ANS: F DIF: 1 REF: 4-1 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Competitive markets MSC: Definitional 10. In a perfectly competitive market, the goods off