國立成功大學
101 學年度經濟學競試
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1A. 選擇題(75%, 每題3%)
1.
Which of the following explains why long-run average cost at first decreases
as output increases?
A)
Gains from specialization of inputs
B)
Diseconomies of scale
C)
Less-efficient use of inputs
D)
Fixed costs becoming spread out over more units of output.
Answer: D
2.
Which of the following statements regarding a marginal-cost pricing rule for a
natural monopoly is incorrect?
A)
It maximizes total surplus in a regulated industry.
B)
It is efficient.
C)
It sets price equal to marginal cost.
D)
It allows the firm to earn a normal profit.
Answer: D
Output
Total cost
(tons of rice per
(dollars per
year)
ton)
0
$1,000
1
$1,200
2
$1,600
3
$2,200
4
$3,000
5
$4,000
3.
Based on the table above which shows Chip’s costs, if rice sells for $600 a ton,
Chip will
A)
shut down because he incurs an economic loss.
B)
shut down because the price is below his minimum average variable cost.
C)
stay open because he earns an economic profit.
D)
stay open because the price is above his minimum average variable cost.
Answer: D
4.
The above figure illustrates the labor market for local fast food restaurants.
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國立成功大學
101 學年度經濟學競試
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What would be the effects of a minimum wage imposed at $4 per hour?
A)
a shortage of 200 hours
B)
a shortage of 100 hours
C)
a surplus of 200 hours
D)
nothing because the minimum wage has no effect on the equilibrium price and
quantity
Answer: D
5.
The market for fish is perfectly competitive. So, the demand for fish from a
single fishery
A)
is less price elastic than the demand for fish overall.
B)
has the same price elasticity as the demand for fish overall.
C)
is more price elastic than the demand for fish overall.
D)
is sometimes more and sometimes less price elastic than the demand for fish
overall.
Answer: C
6.
Which of the following would lead GDP to overstate economic welfare?
A)
the existence of home-cooked meals
B)
restaurant workers that under-report tip income
C)
a self-employed CPA who takes a longer than normal vacation
D)
electric utilities that switch to burning coal because of higher natural gas prices
and thereby create more acid rain pollution
Answer: D
7.
Price indexes can overstate inflation because they
A)
omit some quality improvements.
B)
do not contain the correct collection of goods purchased by consumers.
C)
do not contain the prices of foreign goods.
D)
do not contain the prices of services.
Answer: A
8.
A)
B)
C)
D)
Answer: B
9.
Which of the following shifts the supply curve rightward?
an increase in the population
a decrease in the price of a factor of production used to produce the good
a decrease in the price of the good
a positive change in preferences for the good
A firm’s shutdown point is the quantity and price at which the firm’s total
revenue just equals its
A)
Total cost.
B)
Total variable cost
C)
Total fixed cost.
D)
Marginal cost.
Answer: B
10.
A)
B)
C)
The demand for food is most elastic in countries
with low income levels.
with intermediate income levels.
with high income levels.
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國立成功大學
101 學年度經濟學競試
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D)
that are highly urbanized.
Answer: A
11.
Which of the following correctly describes how price adjustments eliminate a
shortage?
A)
As the price rises, the quantity demanded decreases while the quantity supplied
increases.
B)
As the price rises, the quantity demanded increases while the quantity supplied
decreases.
C)
As the price falls, the quantity demanded decreases while the quantity supplied
increases.
D)
As the price falls, the quantity demanded increases while the quantity supplied
decreases.
Answer: A
12.
A decrease in the price of eggs from $1.50 to $1.30 per dozen resulted in an
increase in egg purchases in two cities. In Philadelphia, daily egg purchases increased
from 6000 to 8000 dozens; in nearby Dover, Delaware, daily egg purchases increased
from 300 to 400 dozens. The price elasticity of demand is therefore
A)
the same in Philadelphia as in Dover.
B)
greater in the smaller city as would be expected.
C)
certainly affected by population differences in different markets.
D)
lower in the smaller city as would be expected.
Answer: A
13.
A perfectly competitive firm is producing at the point where its marginal cost
is increasing and equal to its marginal revenue. If the firm boosts its output, its total
revenue will ________ and its profit will ________
A)
rise; rise
B)
rise; fall
C)
fall; rise
D)
fall; fall
Answer: B
14.
In the above figure, the rise in the price of a gallon of gasoline that created the
movement from point C to point A would be shown as a movement ________ along the
demand curve for ________.
A)
upward; gasoline
B)
downward; coffee
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國立成功大學
101 學年度經濟學競試
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C)
upward; coffee
D)
downward; gasoline
Answer: A
15.
During the 2000s, the price of DVD players fell each year and manufacturers
of DVD players produced and sold more DVD players each year. This result is because
the ________
A)
supply curve of DVD players shifted rightward.
B)
demand curve for DVD players shifted leftward.
C)
"law of demand" does not apply to customers in the "high-tech" sector of the
economy.
D)
"law of supply" does not apply to companies in the "high-tech" sector of the
economy.
Answer: A
Magazines
Chocolate bars
Marginal
Marginal
Quantity
Quantity
utility
utility
1
50
8
26
2
42
10
23
3
34
12
20
4
26
14
17
5
18
16
14
6
10
18
11
7
4
20
8
16.
Sonya's budget for magazines and chocolate bars is $50. Her marginal utility
from these goods is shown in the table above. The price of a magazine is $5 and the price
of a chocolate bar is $2.50. Sonya currently buys 3 magazines and 14 chocolate bars. To
maximize her utility, she should
A)
buy more of both goods.
B)
buy more magazines and fewer chocolate bars.
C)
buy more chocolate bars and fewer magazines.
D)
stay with the current combination of goods.
Answer: D
17.
For Product X, the income elasticity of demand is -2.56. Which of the
following is therefore true?
A)
Product X is a necessity.
B)
Product X is a luxury.
C)
Product X is an inferior good.
D)
Product X is a normal good.
Answer: C
18.
The more substitutes available for a product, the
A)
larger is its the price elasticity of demand.
B)
smaller is its income elasticity of demand.
C)
smaller is its price elasticity of demand.
D)
larger is its income elasticity of demand.
Answer: A
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國立成功大學
101 學年度經濟學競試
雙面列印
19.
Monopolies can earn an economic profit in the long run because of _______
A)
rent seeking by competitors.
B)
barriers to enter the monopoly's market.
C)
the elastic demand for the monopoly's product.
D)
the cost-savings gained by the monopoly.
Answer: B
20.
For a perfectly competitive firm, in the long-run equilibrium,
A)
P = AFC = ATC = MR.
B)
MR = MC = AFC.
C)
MR = P = ATC = MC.
D)
P = MC > ATC.
Answer: C
21.
The sellers pay the entire sales tax levied on a good when demand is perfectly
________ or supply is perfectly ________.
A)
elastic; inelastic
B)
elastic; elastic
C)
inelastic; inelastic
D)
inelastic; elastic
Answer: A
22.
The calculation of the final goods and services sold in an economy would NOT
include
A)
the purchase of a lawnmower by a household.
B)
General Motors' purchases of tires for new automobiles.
C)
Ford Motor Company's purchase of a new industrial robot to be used to
produce cars.
D)
the purchase of a service by a household.
Answer: B
Item
Billions of
dollars
Government expenditure on
250
goods and services
Compensation of employees
1,675
Gross private domestic
325
investment
Rental income
20
Personal consumption
1425
expenditures
Net interest
40
Net exports of goods and
100
services
Indirect business taxes and
300
depreciation
23.
The above table shows some (but not all) national income accounting data for
a hypothetical country. According to these data, the value of GDP is ________ billion.
A)
$2100
B)
$1850
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國立成功大學
101 學年度經濟學競試
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C)
$2000
D)
$2050
Answer: A
24.
The average total cost curves for plants A, B, C, and D are shown in the above
figure. The plant size that is the most economically efficient
A)
is plant A.
B)
is plant B.
C)
is plant C.
D)
depends on the desired level of output.
Answer: D
25.
A)
B)
C)
D)
Answer: A
The natural unemployment rate
rises with an increase in structural unemployment.
falls with an increase in cyclical unemployment.
rises with a decrease in frictional unemployment.
rises with an increase in cyclical unemployment.
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國立成功大學
101 學年度經濟學競試
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B. 非選擇題(25%, 第1題17%, 第2題8%)
請直接於題目接續空白處作答
1. The demand and supply schedules for floppy disks are as follows. (12%)
Price
Quantity
Quantity
(cents
demanded
supplied
per disk) (in millions) (in
millions)
50
5
3
60
4
4
70
3
5
80
2
6
90
1
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A) If there is no tax on floppy disks, find the equilibrium price for floppy disks. (3%)
60 cents
B) If a tax of 20 cents per disk is imposed on seller, find again the equilibrium price of a
disk. (3%)
70 cents
C) How much does the government collect in tax revenue? (3%)
20 cents x 3 million=0.6 million
D) What is the percentage of the tax paid by the consumer? (3%)
50%
2. The BLS reported the following data: In July 2010, employment declined by 131,000 but
unemployment rate was unchanged at 9.5 percent. About 2.6 million persons were
marginally attached to the labor force and among the marginally attached, 1.2 million
workers were discouraged. (9%)
A) Calculate the change in unemployment in July 2010. (5%)
Answer: The definition of the unemployment rate means that 0.095 = (unemployed
workers)/(unemployed workers + employed workers). Multiplying both sides of the
definition by (unemployed workers + employed workers) gives 0.095 × (unemployed
workers + employed workers) = unemployed workers. Solving this equation for
unemployed workers results in (unemployed workers) = 0.105 × (employed workers).
So when the number of employed workers decreases by 131,000, then the number of
unemployed workers decreases by 0.105 × 131,000 = 13,755.
B) With 2.6 million marginally attached workers and 1.2 million of them discouraged
workers, what are the characteristics of the other 1.4 million marginally attached
workers? (4%)
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國立成功大學
101 學年度經濟學競試
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Answer: The other 1.4 million marginally attached workers would like a job but have
stopped looking for work. Because they are not discouraged workers, these 1.4
million workers have stopped looking for reasons other than their inability to find a
job. For example, a stay-at-home spouse might prefer working in the job market but
have quit looking to undertake some home repairs.
3. Assume that the nominal GNP was $100 billion in 2000 and $180 billion in 2004 and that
the implicit GNP deflator was 100 in 2000 and 150 in 2004. What was the rate of change
in real GNP between 2000 and 2004? (4%)
RGNP2000=$100 billion
RGNP2004=$180billion*100/150=$120 billion
Rate of change in real GNP=(120billion-100billion)/100billion *100 =20%
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