Among economists listed below, who have (has) just won the Nobel Laureates in
Economics in 2007?
Leonid Hurwicz, Eric S. Maskin, and Roger B. Myerson.
George A. Akerlof, A. Michael Spence, and Joseph E. Stiglitz.
John C. Harsanyi, John F. Nash Jr., and Reinhard Selten.
Edmund S. Phelps.
Amartya Sen.
Which of the following four statements is (are) correct? (1) If a demand curve is
upward-sloping, then it is a normal good. (2) If a demand curve is upward-sloping, then
it may not be an inferior good. (3) If a demand curve is upward-sloping, then an
increase in the consumer’s income will shift the demand curve rightward. (4) If a
demand curve is upward-sloping, then an increase in the price of the substitute of the
considering goods will shift the demand curve rightward.
(1)(2)
(4)
(2)(3)
(1)
(3)
Among the following four statements, what might be possible reason(s) that raises
(raise) up the gas price in a country? (1) An increase in the demand of automobiles. (2)
A decrease in the demand of automobiles. (3) An increase in the supply of crude oil. (4)
A decrease in the demand of crude oil.
(2)
(3)
(1)(4)
(2)(3)
None of the above.
Assume that other things being equal, steel is prohibited to export. Among the
following four statements, what may happen in the economy? (1) The domestic
demand curve of steel will shift rightward. (2) The domestic demand curve of steel will
shift leftward. (3) The domestic equilibrium price of steel will be lower than before. (4)
The domestic equilibrium price of steel will be higher than before.
(1)
(2)
(3)
(1)(4)
(2)(4)
Assume that a consumer’s preference can be represented by a quasi-liner utility
function, U = u(x) + y , with the first- and second-order derivatives, u′(x) > 0,
u′′(x) < 0 , and both goods are consumed. Among the following four statements, choose
the correct implication(s) below. (1) There is no income effect for good y. (2) The
consumer surplus of consuming x can be used to exactly measure how a change in the
price of x may affect total utility. (3) The indifferent curve is concave to the origin. (4)
The indifferent curve will not intersect x axis.
(1)
(1)(4)
(3)(4)
(2)
(4)
An utility function is continuous and represents a locally nonsatiated preference.
Among the following four statements, choose the correct statements for the
corresponding expenditure function. (1) The expenditure function is a kind of value
function in the consumer’s optimization problem. (2) The expenditure function is
convex in prices. (3) The expenditure function is homogeneous of degree zero in prices.
(4) The partial derivative of expenditure function with respect to the consumer’s
income is the Hicksian demand function.
(1)
(2)(3)
(2)
(3)
(4)
Among the following four statements, choose the correct statement(s) regarding the
Law of Diminishing Marginal Productivity of Labor [LDMPL]: (1) The LDMPL
predicts that the last unit of labor employed is inferior to those already employed. (2)
When the average productivity of labor is decreasing in labor employed, the LDMPL
must occur. (3) The LDMPL is the main force to keep an economy growing forever. (4)
The LDMPL is the main force such that a competitive firm’s demand for labor
decreases in nominal wages.
(1)
(1)(2)
(1)(3)
(2)(4)
None of the above.
A risk-averter will not follow the Expected Utility Theorem to make his/her
decision.
Any monotonic transformation of u (⋅) will necessarily produce a valid utility that
represents the same preferences.
The expected utility theorem will not hold under an arbitrary monotonic
transformation of the expected utility.
The Theorem only applies to the study of consumer’s behavior.
Among the following four utility functions, which of them can be used to derive a
straight line Engle curve and it passes through the origin. (1) u = log x + y . (2)
u = log x + log y . (3) u = min{x, y} . (4) u = x + y .
(1).
(1)(2).
(1)(2)(3).
(1)(3).
(2)(3)(4)
Assume that the crude oil price is increased, and consumers become less interested in
the demand for cars. What would you predict the equilibrium in the car maker? (1) The
price of car will go up without any condition. (2) The quantity of car will go down
without any condition. (3) The price of car will go down without any condition. (4) The
quantity of car will go up without any condition.
(1)(2)
(2)(3)
(3)(4)
(1)(4)
(2)
Assume that in a perfectly competitive market the supply function for good x is
represented by p = 1 + x, and the demand function is specified as p = 2 − x. Choose the
correct statement(s) regarding the market equilibrium: (1) The equilibrium quantity will
be 1. (2) The equilibrium price will be 1. (3) The equilibrium quantity will be 1.5. (4)
The equilibrium price will be 2.5.
(1)(2)
(1)(3)
(2)(3)
(3)(4)
(3)
Assume that in a perfectly competitive market the supply function of good x is
represented by p = 1 + x, and the demand function is specified as p = 2 − x. Choose the
correct statement(s) regarding the impact of a specific tax on the market equilibrium: (1)
The specific tax will bid up the equilibrium market price. (2) The consumer surplus
may increase or decrease. (3) The producer price will be increased too. (4) The
producer surplus will increase.
(1)
(1)(3)
(2)(3)
(3)(4)
(4)
In which year “The Separate Customs Territory of Taiwan, Penghu, Kinmmen and
Matsu (Chinese Taipei)” officially became a member of World Trade Organization
(WTO)?
2000.
1999.
2001.
2002.
1998.
Choose the correct statement(s) regarding the concept of “sunk cost”:
It is equal to fixed cost.
A firm’s expenditure on TV’s advertisement is not a sunk cost.
it will not affect a firm’s economics decisions.
It measures how total cost changes in responding to a change in output.
None of the above is correct.
Let u = min{x, y} be the utility function of consuming goods x and y. Among the
following four statements. Choose the correct statement(s) below: (1) The optimal
choice of a consumer may only consume one of the two goods being considered. (2)
These two goods are perfect substitutes. (3) The indifference curve is convex to the
origin. (4) The demand function does not have income effect.
(1).
(1)(2).
(2)(3).
(3).
(1)(4).
The supply curve for a perfectly competitive firm is
The upward sloping portion of the SMC curve.
The SAVC cost curve to the right of the minimum point.
The MR curve.
The SMC above the minimum point of the SAVC cost curve.
None of the above.
If a graph of a perfectly competitive firm shows that the MR = MC point occurs where
p < SAVC,
The firm is earning a negative profit but will continue to operate in the short run.
The firm is covering some of its fixed costs.
The firm is earning a positive profit.
The firm is earning a negative profit and will shut down immediately.
None of the above.
Which of the following statements is NOT true about the Cournot model?
Conjectural variations are zero.
The firms make their independent decision sequentially.
Each firm sets MR = MC.
(B) and (C) are true.
All of the above are true.
A sufficient condition for welfare gain with third degree price discrimination is
Total output does not increase.
Total output remains the same.
Demand is satisfied in a market where zero output would be supplied otherwise.
Welfare is not related to output.
None of the above.
Which of the following is a necessary condition for price discrimination?
The firm has the ability to segment the market; resale is difficult.
The demand elasticities are the same for each market segment.
The demand elasticities are the different for each market segment.
A and C are correct.
A and B are correct.
Under perfect competition, the Lerner index is equal to
0.
Between 0 and 1.
∞.
1.
None of the above.
In the kinked demand curve model, if one firm lowers its price
Other firms will compete on a non-price basis.
A price war will follow.
Other firms will raise their price.
None of the above is true.
All of the above are true.
The deadweight loss associated with moral hazard can reduced by
Inducing consumers to take some precautions.
Charging a lower premium.
Requiring individuals to be insured for 100% of possible loss.
It cannot be reduced.
All of the above.
The monopolist will produce output to the point where MR =SMC . This implies that
the monopolist operates on the ____ portion of the demand curve
Elastic.
Inelastic.
Positive.
Unitary.
None of the above.
If both firms move simultaneously, two Nash equilibria result.
Whichever firm moves first will achieve the higher payoff.
If both firms move simultaneously, Firm 1 will end up with a loss.
A and B are both correct.
B and C are both correct.
Refer to the example above. What is true about dominant strategies in the game?
There are no dominant strategies in the game.
Weight training is a dominant strategy for Trim Corp.
Weight training is a dominant strategy for Slim Corp.
Weight training is a dominant strategy for both corporations.
None of the above.
Which of the following statements is true regarding a dominant firm oligopoly?
The dominant firm behaves like a monopolist but the other firms do not.
The dominant firm cannot act as a profit maximizer.
The competitive firms cannot maximize profits.
The price is equal to the dominant firm’s marginal cost.
None of the above.
The Prisoner’s Dilemma game illustrates
Where cooperation can improve the welfare of all payers.
Rational self-interest behavior not resulting in a social optimum.
The dominant strategy of both players is not the preferred outcome.
All of the above.
None of the above.
If both firms behave as leader firms, then
Cournot equilibrium results.
Stackelberg equilibrium results.
Stackelberg disequilbrium results.
Bertrand equilibrium results.
Cournot and Bertrand equilibrium results.
The assumption of social diminishing marginal rates of substitution between consumer
utilities implies that society has
A negative compensated demand function.
Endowment diffusion.
Inequality aversion.
Preference symmetry.
None of the above.
What will determine which of several economic-efficient allocations are feasible?
The price ration in the output market.
All economic-efficient allocations are feasible.
The initial endowment of resources.
Production is Pareto efficient without any central decision making.
None of the above.
Which of the following is NOT a necessary condition for efficient allocation in
production?
No more of one output can be produced without having to cut back on the
production of other commodities.
Resources should be allocated to the point where the marginal product of any
resource in the production of a particular commodity is the same no matter which
firm produces the commodity.
If two or more firms produce the same outputs, they must operate at points on their
respective production possibility frontiers where their marginal rates of substitution
are equal.
All of the above are required.
None of the above.
A monopoly will provide a Pareto-efficient level of output without regulation when
It engages in first degree price discrimination.
It bundles its products.
It engages in second degree price discrimination.
All of the above.
None of the above.
可觀看題目詳解,並提供模擬測驗!(免費會員無法觀看研究所試題解答)