江西财经大学微观经济学试题库 chapter 6.docVIP

Microeconomics 9e (Parkin) Chapter 6 Government Actions in Markets 1 A Housing Market With a Rent Ceiling 1) A price ceiling is a price A) below which a seller cannot legally sell. B) above which a seller cannot legally sell. C) that creates a surplus of the good. D) Both answers A and C are correct. Answer: B Topic: Price Ceiling Skill: Recognition AACSB: Reflective Thinking 2) A price ceiling, such as a rent ceiling, A) always results in a surplus. B) always results in a shortage. C) results in a surplus if the ceiling price is less than the equilibrium price. D) results in a shortage if the ceiling price is less than the equilibrium price. Answer: D Topic: Price Ceiling Skill: Recognition AACSB: Reflective Thinking 3) Which of the following is a typical effect of a price ceiling set below the equilibrium price? A) Less of the good is produced with the ceiling than would be produced without the ceiling. B) The price ceiling has no effect on the market equilibrium. C) Consumers can buy more than they can at the equilibrium price because the ceiling price is lower. D) None of the above answers is correct. Answer: A Topic: Price Ceiling Skill: Recognition AACSB: Reflective Thinking 4) A price ceiling ________. A) makes it illegal to charge a higher price than specified B) is more effective when it is higher C) is necessary to maintain market equilibrium D) occurs in housing markets only Answer: A Topic: Price Ceiling Skill: Recognition AACSB: Reflective Thinking 5) An effective price ceiling on a good or service can ________. A) occur only in the market for rental housing B) create a surplus of the good or service C) increase the price of the good or service D) benefit those who are able to buy the good or service at the lower price Answer: D Topic: Price Ceiling Skill: Conceptual AACSB: Reflective Thinking 6) Suppose the government imposes a price ceiling on gasoline that is less than the equilibrium price. As a result, A) the price of gasolin