微观经济学英文版18章自测题及答案.docVIP

第一章 1. Beth’s friends want to take her to a movie or a play for her birthday. Beth chooses to attend the play. We know that: a. Beth has made an irrational decision. b. not seeing the movie is Beth’s opportunity cost of attending the play. c. Beth did not make a decision at the margin. d. seeing the play did not cost Beth anything since she did not have to pay for the ticket. 2. A market economy relies on a. decentralized choices coordinated by Adam Smith’s “invisible hand.” b. centralized choices coordinated by Adam Smith’s “invisible hand.” c. decentralized choices coordinated by the “visible hand” of authority. d. centralized choices coordinated by the “visible hand” of authority. 3. Which of the following is an example of market power? a. Elaine engages in less research than she would if the government were to subsidize her research activities. b. Mark’s company charges a higher price for its product because government regulations force the company to clean-up its emissions into a local waterway. c. Because of the high cost of gasoline, Jennifer buys a smaller, more fuel-efficient car. d. The town’s only cable company charges a higher price than it would if it faced competition from other firms. 4. Government regulation of the economy may be beneficial if: a. externalities exist. b. there is too much competition. c. there is no market power. d. special interest groups act to influence government policy. 5. Which of the following variables is the key ingredient in improving the standard of living of the average citizen? a. low inflation b. low unemployment rates c. productivity increases d. population growth 6. Externalities occur when a. one person’s actions affect the well-being of a bystander. b. the government imposes taxes. c. increases in the price of oil cause gasoline prices to rise. d. higher wages result in increased spending. 7. Which of the following are NOT examples of market failure? a. There is only one firm that employs all the workers of Smalltow