陳偉補習班研究所網路 PK 賽 II ~ ( 經濟 )

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1 陳偉補習班研究所網路 PK 賽 II ~ ( 經濟 ) 謝薇老師提供 1. Ben has an absolute advantage in (a) ice cream and Jerry has an absolute advantage in cones. (b) cones and Jerry has an absolute advantage in ice cream. (c) neither good and Jerry has an absolute advantage in both goods. (d) both goods and Jerry has an absolute advantage in neither good 2. If the cross-price elasticity of two goods is negative, then those two goods are (a) necessities. (b) complements. (c) normal goods. (d) inferior goods. On the graph below, the shift of the supply curve from S 1 to S 2 represents the imposition of a tax on a goo(d) On the axes, Q represents the quantity of the good and P represents the price.

2 3. As a result of the tax, (a) the price paid by buyers rises from $5 to $7. (b) the price received by sellers (after paying the tax) falls from $5 to $3. (c) the government collects $30 in tax revenue. (d) All of the above are correct. 4. The amount of the tax per unit is (a) $1. (b) $2. (c) $3. (d) $5. 5. Willingness to pay (a) measures the value that a buyer places on a good (b) is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept. (c) is the maximum amount a buyer is willing to pay minus the minimum amount

3 a seller is willing to accept. (d) is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. 6. A consumer's willingness to pay directly measures (a) the extent to which advertising and other external forces have influenced the consumer s decisions regarding his or her purchases of goods and services. (b) the cost of a good to the buyer. (c) how much a buyer values a good (d) consumer surplus. 7. Shannon buys a new CD player for her car for $135. She receives consumer surplus of $25 on her purchase if her willingness to pay is (a) $25. (b) $110. (c) $135. (d) $ When the market is in equilibrium, consumer surplus is represented by area (a) A (b) B (c) C (d) D

4 9. Suppose a 20th unit of the good were sold by a seller to a buyer. Which of the following statements is correct? (a) On the 20th unit, the difference between the buyer s value and the seller s cost is less than the tax per unit. (b) On the 20th unit, the difference between the buyer s value and the seller s cost is greater than the tax per unit. (c) On the 20th unit, the difference between the buyer s value and the seller s cost is equal to the tax per unit. (d) It makes sense for the buyer to buy, and for the seller to sell, the 20th unit with or without the tax in place. Figure (1) 10. Refer to Figure (1). With the tariff, the quantity of saddles imported is (a) Q 3 - Q 1. (b) Q 3 - Q 2. (c) Q 4 - Q 1. (d) Q 4 - Q 2.

5 11. Refer to Figure (1). Producer surplus with trade and without a tariff is (a) G. (b) C + G. (c) A + C + G. (d) A + B + C + G. Figure (2) 12. Refer to Figure (2). Which price and quantity combination represents the social optimum? (a) P 0 and Q 1. (b) P 2 and Q 1. (c) P 1 and Q 0. (d) P 2 and Q Refer to Figure (2). Which of the following statements is correct? (a) The marginal benefit of the positive externality is measured by P 3 - P 1. (b) The marginal cost of the negative externality is measured by P 3 - P 2. (c) The marginal cost of the negative externality is measured by P 3 - P 1. (d) The marginal cost of the negative externality is measured by P 3 - P 0. Scenario (1) Tony is a wheat farmer, but he also spends part of his day teaching guitar lessons. Due to the popularity of his local country western band, Farmer Tony has more students requesting lessons than he has time for if he is to also maintain his farming business. Farmer Tony charges $25 an hour for his guitar lessons. One spring day, he spends 10 hours in his fields planting $130 worth of seeds on his farm. He expects that the seeds he planted will yield $300 worth of wheat. 14. Refer to Scenario (1). What is the total opportunity cost of the day that Farmer Tony incurred for his spring day in the field planting wheat?

6 (a) $130 (b) $250 (c) $300 (d) $380 Table (1) Number of Workers Number of Machines Output (corks produced per hour) Marginal Product of Labor Cost of Workers Cost of Machines Total Cost Refer to Table (1). Each worker at Gallo's cork factory costs $12 per hour. The cost of each machine is $20 per day regardless of the number of corks produced. If Gallo's produces at a rate of 35 corks per hour, what is the total labor cost per hour? (a) $40 (b) $48 (c) $384 (d) $ Refer to Table (1). Assume Gallo's currently employs 5 workers. What is the marginal product of labor when Gallo's adds a 6th worker? (a) 5 corks per hour (b) 15 corks per hour (c) 25 corks per hour (d) 70 corks per hour Table (2) The following table presents cost and revenue information for Soper s Port Vineyard.

7 COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue Refer to Table (2). Consumers are willing to pay $120 per unit of port wine. What is the total revenue from selling 4 units? (a) $120 (b) $217 (c) $263 (d) $ Refer to Table (2). Consumers are willing to pay $120 per unit of port wine. What is the marginal revenue from selling the 3rd unit? (a) $50 (b) $80 (c) $120 (d) $ Refer to Table (2). Consumers are willing to pay $120 per unit of port wine. What is the average revenue when 4 units are sold? (a) $50 (b) $120 (c) $125 (d) $130 Figure (3) The graph below depicts the cost structure for a firm in a competitive market.

8 20. Refer to Figure (3). When price rises from P 2 to P 3, the firm finds that (a) marginal cost exceeds marginal revenue at a production level of Q 2. (b) if it produces at output level Q 3 it will earn a positive profit. (c) expanding output to Q 4 would leave the firm with losses. (d) it could increase profits by lowering output from Q 3 to Q Refer to Figure (3). When price rises from P 3 to P 4, the firm finds that (a) fixed costs are lower at a production level of Q 4. (b) it can earn a positive profit by increasing production to Q 4. (c) profit is still maximized at a production level of Q 3. (d) average revenue exceeds marginal revenue at a production level of Q Young Johnny inherited the only local cable TV company in town after his father passed away. The company is completely unregulated by the government and is therefore free to operate as it wishes. Assuming that Johnny understands the true power of his new monopoly, he is probably most excited about which of the following statements? (i) He will be able to set the price of cable TV service at whatever level he wishes. (ii) The customers will be forced to purchase cable TV service at whatever price he wants to set. (iii) He will be able to achieve any profit level that he desires. (a) (i) only (b) (ii) only (c) (i) and (iii) (d) All of the above are correct.

9 Table (3) Quantity Price Total Revenue Average Revenue Marginal Revenue Refer to Table (3). If the monopolist wants to maximize its revenue, how many units of its product should it sell? (a) 4 (b) 5 (c) 6 (d) Refer to Table (3). Assume this monopolist's marginal cost is constant at $12. What quantity of output (Q) will it produce and what price (P) will it charge? (a) Q = 4, P = $29 (b) Q = 4, P = $26 (c) Q = 5, P = $23 (d) Q = 7, P = $17 Figure (4) The figure below illustrates the cost and revenue structure for a monopoly firm.

10 25. Refer to Figure (4). A profit-maximizing monopoly's total cost is equal to (a) (P 1 P 0 ) Q 2. (b) P 0 Q 1. (c) P 0 Q 2. (d) P 0 Q Refer to Figure (4). At the profit-maximizing level of output, (a) marginal revenue is equal to P 3. (b) marginal cost is equal to P 3. (c) average revenue is equal to P 3. (d) average total cost is equal to P 下列何者為真? (A) 所謂的 Pareto efficient 的定義是 : 社會上所有人的效用都最大的情形 (B) 如果必須損害某人的效用才能增加其他人的效用時, 此時就能認定社會處於 Pareto efficient 的狀態 (C) Pareto efficient 的解唯一 (D) 對某一個人而言, 在 Pareto efficient 狀態時的效用可能低於不是 Pareto efficient 狀態時的效用 28. 假設賭博本身沒有娛樂效果, 而且樂透彩中狀機率是客觀的, 雖然樂透彩價錢是不公平的, 下列何者為真? (A) 邊際效用恆正且恆遞減的個人不可能買樂透彩 (B) 只要在目前擁有的財富下邊際效用為正且遞減的個人就不可能買樂透彩 (C) 可能有邊際效用恆正的個人買樂透彩

11 (D) 邊際效用恆正且恆遞增的個人一定會買樂透彩 29. 假設國民所得等於消費加投資 (Y=C+I), 消費是所得的二次函數 C=a+bY+cY 2, 其中 a>0, 假設投資為定額 (I=d>0) (A) 如果 c 小於零, 則均衡國民所得一定有正解 (B) 如果 b<1, 則均衡國民所得一定有正解 (C) 如果 (b-1) 2-4(a+d)c>0, 則均衡國民所得一定有正解 (D) 以上皆是 30. 下列可者為真? (A) Lorenz curve 越趨向 45 度線, 所得分配越平均 (B) Gini Coefficient 越小, 所得分配越平均 (C) Gini Coefficient 可能大於 1 (D) Gini Coefficient 可能小於零 31. Suppose Country A ahs land that is a relatively poor producer of agricultural products, but has large amounts of labor and capital. Other factors equal, Country A (a) is likely to import food and other agricultural products. (b) will consume less food (c) will implement trade protection policies for capital-intensive manufactured goods. (d) is likely to find it has a comparative advantage in the production of food Price (hundreds of cars per jet) 6 Airland s export Supply of jets 4 2 Mobilia s import Demand for jets Quantity (jets per year)

12 32. In the above figure, if no international trade takes place, the price of a jet in Mobilia is (a) 6 hundred cars per jet. (b) 20 cars per jet. (c) 2 hundred cars per jet. (d) 4 hundred cars per jet. Cars (hundreds per year) C A X B Corn (tons per year) 33. In the above figure, suppose point X represents the no-trade production and consumption point for Carland, and Carland enjoys power opportunity costs in the production of cars. Point represents a typical production point where the economy would move if it decides to trade. (a) A (b) B (c) C (d) D 34. In broad terms the difference between microeconomics and macroeconomics is that (a) they use different sets of tools and ideas. (b) microeconomics studies decisions of individual people and firms and macroeconomics studies the entire national economy. (c) microeconomics studies the effects of government taxes on the national unemployment rate. (d) macroeconomics studies the effects of government regulation and taxes on the price of individual goods and services whereas microeconomics does not. 35. Positive and normative statements differ in that (a) normative statements depict what is and positive statements depict what ought to be. (b) positive statements can be graphed, whereas normative statements cannot. (c) normative statements can be tested, whereas positive statements cannot. (d) positive statements can be tested, whereas normative statements cannot.

13 36. Which of the following statements about GDP is correct? (a) GDP measures two things at once: the total income of everyone in the economy and the unemployment rate. (b) Money continuously flows from households to government and then back to households, and GDP measures this flow of money. (c) GDP is to a nation s economy as household income is to a household (d) All of the above are correct. 37. Gasoline is considered a final good if it is sold by a (a) gasoline station to a bus company that operates a bus route between San Francisco and Los Angeles. (b) pipeline operator to a gasoline station in San Francisco. (c) gasoline station to a motorist in Los Angeles. (d) All of the above are correct. 38. The value of goods added to a firm's inventory in a certain year is treated as (a) consumption, since the goods will be sold to consumers in another period (b) saving, since the goods are being saved until they are sold in another period (c) investment, since GDP aims to measure the value of the economy's production. (d) spending on durable goods, since the goods could not be inventoried unless they were durable. Table (4). The information in the table pertains to the country of Ophir. Year Nominal GDP GDP Deflator 2004 $ $ $ Refer to Table (4). From this information we can conclude that (a) real GDP was higher in 2006 than in 2005, and real GDP was higher in 2005 than in (b) real GDP was higher in 2005 than in 2004, and real GDP was higher in 2005 than in (c) real GDP was higher in 2004 than in 2005, and real GDP was higher in 2005 than in (d) real GDP was higher in 2004 than in 2006, and real GDP was higher in 2005 than in 2004.

14 40. Refer to Table (4). Which of the following statements do we know to be correct? (a) Total spending in Ophir increased throughout the period (b) Household spending in Ophir increased throughout the period (c) The production of goods and services increased in Ophir throughout the period (d) All of the above are correct. 41. Year Peaches Pecans 2005 $11 per bushel $6 per bushel 2006 $9 per bushel $10 per bushel Suppose the typical consumer basket consists of 10 bushels of peaches and 15 bushels of pecans. Using 2005 as the base year, the CPI for 2006 is (a) 100. (b) 120. (c) 200. (d) The consumer price index is (a) not very useful as a measure of the cost of living. (b) a perfect measure of the cost of living. (c) a useful measure, but not a perfect measure, of the cost of living. (d) not used as a measure of the cost of living. 43. You have some estimates of national accounts numbers for a closed economy for the coming year. Under one set of expectations, government expenditures will be $30 billion, transfer payments will be $10 billion, and taxes will be $45 billion. Under another set of expectations, GDP will be $200 billion, taxes will be $50 billion, transfer payments will be $20 billion, consumption will be $120 million, and investment will be $40 billion. Based on these numbers in the first case there should be a (a) $15 billion surplus, and in the second case a $10 billion surplus. (b) $15 billion surplus, and in the second case a $10 billion deficit. (c) $5 billion surplus, and in the second case a $10 billion surplus. (d) $5 billion surplus, and in the second case a $10 billion deficit. 44. The labor-force participation rate is defined as (a) (Employed Adult Population) 100. (b) (Employed Labor Force) 100. (c) (Labor Force Adult Population) 100. (d) (Adult Population Labor Force) 100.

15 45. Meredith is looking for work as a computer programmer. Although her prospects are good she hasn't yet taken a job. Julie is looking for work in a steel mill. Every time she shows up for an interview there are more people looking for work than their are openings. Someone waiting in line with her tells her its been that way a long time. (a) Meredith and Julie are both frictionally unemployed (b) Meredith and Julie are both structurally unemployed (c) Meredith is frictionally unemployed, and Julie is structurally unemployed (d) Meredith is structurally unemployed, and Julie is frictionally unemployed 46. The equilibrium wage and employment in this market is (a) $6 and 20 workers. (b) $5 and 30 workers. (c) $4 and 40 workers. (d) Any of the above could be correct. 47. The prisoners dilemma has an equilibrium that is (a) a Nash equilibrium and both players deny. (b) not a Nash equilibrium and both players deny. (c) not a Nash equilibrium and both players confess. (d) a Nash equilibrium and both players confess. 48. A firm might be tempted to cheat on a collusive price-fixing agreement by setting a (a) higher price and quantity than agreed (b) lower price and higher quantity than agreed (c) higher price and lower quantity than agreed (d) lower price and quantity than agreed

16 Sears Walmart Lower prices Don t lower prices Lower S:$5 million S:$1 million Price W:$5 million W:$30 million Don t Lower S:$30 million S:$20 million Price W:$1 million W:$20 million 49. Refer to the payoffs in the table above. Sears and WalMart must decide whether to lower their prices based on the potential profits shown in the table. This game has (a) no Nash equilibrium. (b) a Nash equilibrium: both Sears and WalMart keep prices high. (c) a Nash equilibrium: Sears keeps its prices high and Walmart lowers its prices. (d) a Nash equilibrium: both Sears and WalMart lower prices. 50. A tit-for-tat strategy can be used in (a) a repeated game nut not a single-play game. (b) a single-play game or a repeated game. (c) a single-play game but not repeated game. (d) neither a repeated game nor a single-play game.

17 陳偉補習班研究所網路 PK 賽 II ~ ( 經濟 ) 解答 1. (b) 2. (b) 3. (a) 4. (c) 5. (a) 6. (c) 7. (d) 8. (b) 9. (a) 10. (b) 11. (a) 12. (b) 13. (c) 14. (d) 15. (b) 16. (b) 17. (d) 18. (c) 19. (b) 20. (c) 21. (b) 22. (a) 23. (c) 24. (b) 25. (c) 26. (c) 謝薇老師提供 27. (b) (d) Pareto optimum: 已經達到任何改變都可能損及某些人或某個人的利益, 則這 種境界就稱為柏拉圖最適 28. (a) (b) (c) 樂透財屬於不公平賭局 風險逃避者不會參與 風險中立者不會參與 風險愛好者不一定會參與

18 (b) M. Friedman 與 L.J. Savage 認為一個人的 VN-M 效用函數可能是 S 型, 29. (a) (c) Y=C+I 既可能買公平賭局, 也可能參加公平賭局 2 = a + by + cy + I, I = d 2 cy + (b 1)Y + (a + d) = 0 2 (b 1) ± (b 1) 4c(a + d) Y =, 其中 a>0,d>0,c? 2c (a) 若 c<0,1 當 b>1 時 必有正解 b<1 時 必有正解 (b) 不一定, 需配合,c<0 2 (c) 若 (b 1) 4c(a + d) > 0 表 c < 0 必有正解 30. (a) (b) 31. (a) 32. (a) 33. (c) 34. (b) 35. (d) 36. (C) 37. (C) 38. (C) 39. (C) 40. (A) 41. (B) 42. (C) 2 or (b 1) > 4c(a + d) 必有正解 Lorenz curve: determine income distribution inequality 應進口相對不具優勢的產品 既然無國際貿物, 則 Air land 無法將 jet 出口到 Mobilia 去, 故 Mobilia 國內的 均衡數量為 0, 價格為 6 國際貿易後的生產點為 C, 消費點為 A

19 43. (D) 44. (C) 45. (C) 46. (B) 47. (d) 囚犯困境的 Nash 解, 為兩人均坦承 48. (b) 存在價格勾結的廠商可能會誘因降低價格增加產量來破壞協定 49. (d) 50. (a) 在重覆賽局中才有辦法施行 以牙還牙 的策略