Which of the following statement is not correct?
As long as the marginal cost of production is greater than the average variable cost,
then the average variable cost is increasing.
In a perfectly competitive market with constant long run marginal cost, the
consumer will bear all the taxation burden.
In an exchange economy, no individual will ever prefer a point inside the utility
possibilities frontier to a point on the utility possibilities frontier.
An increase in the money supply and a drop in consumer confidence will lead to
a decrease in output with an ambiguous effect on the interest rate.
an increase in output and a decrease in the interest rate.
an ambiguous effect on output and an increase in the interest rate.
an ambiguous effect on output and a decrease in the interest rate.
If a central bank had to give ups its discretion and follow a rule that required it to keep
inflation low,
the short-run Phillips curve would shift down.
the short-run Phillips curve would shift up.
the long-run Phillips curve would shift right.
the long-run Phillips curve would shift left.
Which of the following statement is true?
If the government guarantees a binding price floor for agricultural output by
purchasing any surplus, then the demand for farm labor will be more elastic.
When a firm chooses among different projects with different sizes, the one which
has the highest present value is always the one with the highest yield rate.
After the professor in the class promises that no one would fail, students never
study and do assignments again. This is an example of adverse selection problem.
A factory that pollutes a river has negative externalities on residents along the river.
If the factory and residents can negotiate, an efficient result can be achieved only if
the property right of the river is assigned to the residents.
Which of the following statement is true?
A risk averse individual that has to decide between two different lotteries will
always prefer a lottery with less risk.
In a perfectly competitive market, firms take the market price as a given, which
implies that the market demand is infinitely elastic.
M1 = $400 billion, M2 = $2,475 billion.
M1 = $125 billion, M2 = $3,025 billion.
M1 = $425 billion, M2 = $2,450 billion.
M1 = $425 billion, M2 = $1,875 billion.
Financial intermediaries typically require mortgage borrowers to have homeowner’s
insurance and do credit checks before making the loan.
The insurance requirement and the credit check are both designed primarily to
reduce adverse selection.
The insurance requirement and the credit check are both designed primarily to
reduce the risk of moral hazard.
The insurance requirement is designed primarily to reduce the risk of moral hazard;
the credit check is designed primarily to reduce adverse selection.
The insurance requirement is designed primarily to reduce adverse selection; the
credit check is designed primarily to reduce the risk of moral hazard.
The duration of a ten-year, 10 percent coupon bond when the interest rate is 10 percent
is 6.76 years. What happens to the price of the bond if the interest rate falls to 8
percent?
it rises 20 percent
it rises 12.3 percent
it falls 20 percent
it falls 12.3 percent
Which of the following is not a real world factual conflict with the neoclassical growth
model?
Poor countries’ income levels have not converged to the income levels of rich
countries.
Immigrant labor from poor countries experiences very small increases in income
when it moves to rich countries.
Poor countries do not have a higher rate of return on capital.
Income per capita varies greatly across countries.
Suppose the proportion of deposits that individuals wish to hold as cash were to rise
from 5% to 10%. Then,
the money supply will rise because people have more cash
bank deposits will fall by the same amount as if the reserve-holding ratio had risen
by 5 percentage points
the supply of high-powered money will rise because cash has risen
the money supply will change by the same amount as if the reserve-holding ratio
had risen by 5 percentage points
Elva buys a designer dress in Taipei, which is produced by a Taiwanese-owned fashion
shop in France. As a result, Taiwan consumption increases, Taiwan net exports
decrease, Taiwan GDP is unaffected, and Taiwan GNP increases.
decrease, Taiwan GDP increases, and Taiwan GNP is unaffected.
decrease, Taiwan GNP increases, and French GDP is unaffected.
are unaffected, Taiwan GDP is unaffected, and French GDP increases.
Which of the following lists two things that both increase the money supply?
make open market purchases, raise the reserve requirement ratio
make open market purchases, lower the reserve requirement ratio
make open market sales, raise the reserve requirement ratio
make open market sales, lower the reserve requirement ratio
an appreciation, more
an appreciation, less
a depreciation, more
a depreciation, less
long; risky
short; risky
short; less risky
long; less risky
is the cost imposed on C.
is the ability of C to prevent a transaction that still has a net overall gain of $80.
would occur if A and B do not compensate C by $20 or more to allow the
transaction.
is that the cost to C is not $100.
can raise or lower, falls, rises
can raise or lower, rises, falls
must decrease, falls, also falls
must decrease, rises, falls
A risk averse person
has a utility curve where the slope increases with wealth, and might take a bet with
a 60 percent chance of winning $100 and a 40 per chance of losing $100.
has a utility curve where the slope increases with wealth, and would never take a
bet with a 60 percent chance of winning $100 and a 40 per cent chance of losing
$100.
has a utility curve where the slope decreases with wealth, and might take a bet with
a 60 percent chance of winning $100 and a 40 per chance of losing $100.
has a utility curve where the slope decreases with wealth, and would never take a
bet with a 60 percent chance of winning $100 and a 40 per cent chance of losing
$100.
The effects of a decline in the value of financial assets, such as stocks, on consumption
and the economy might be offset by
increasing taxes.
decreasing the money supply.
increasing government spending.
None of the above is correct.
Assume the CPI of Taiwan was 120 and 132 in year 2000 and 2001, respectively. Jay
borrowed money in 2000 at 12% and repaid the loan in 2001, then
Jay’s purchasing power increased.
Jay’s purchasing power decreased.
Jay’s purchasing power kept constant.
impossible to determine without knowing the base year for inflation.
If Taiwan real exchange rate appreciates, Taiwan’s net exports
increase and Taiwan’s net capital outflow decreases.
decrease and Taiwan’s net capital outflow increases.
and Taiwan’s net capital outflow both increase.
and Taiwan’s net capital outflow both decrease.
Inflation has no effect on an economy’s well-being if
it is universally and accurately anticipated
all of these
the nominal rate of interest for both savers and borrowers rises by an amount just
equal to the rate of inflation
relative prices are unaffected
Tobin’s q is
the ratio of a firm’s market value on the stock and bond markets to the replacement
cost of its capital stock.
the ratio of a firm’s gross investment to its capital stock less its replacement cost of
capital.
a firm’s replacement cost of capital less its value on the stock and bond markets.
the ratio of a firm’s replacement cost of capital to its gross investment.
If Taiwan with constant returns to scale were to double its physical capital stock, its
available natural resources, and its human capital, but leave the size of the labor force
the same, then
its output and productivity would increase, but less than double.
its output and productivity would increase by more than double.
its output would stay the same and so would its productivity.
its output would stay the same, but its productivity would decrease.
In this figure, which of the following sequences shows the logic of the interest rate
effect ?
1, 2, 3, 4
1, 4 ,3, 2
3, 4, 2, 1
3, 2, 1, 4
High and unexpected inflation has a greater cost
for those who borrow than those who save.
for those who hold a little money than for those who hold a lot of money.
for those whose wages increase by as much as inflation, than those who are paid a
fixed nominal wage.
for savers in high income tax brackets than for savers in low income tax brackets.
Consider three different closed economies with the following national income statistics.
Country A has taxes of $40 billion, transfers of $20 billion, and government
expenditures on goods and services of $30 billion. Country B has private savings of
$60 billion, and investment expenditures of $50 billion. Country C has GDP of $300
billion, investment of $70, consumption of $180 billion, taxes of $60 billion and
transfers of $20 billion. From this information we know that there is a $10 billion
deficit for
country A.
country B.
country C.
all there countries.
Given the reserve-holding ratio e and the fraction of deposits held as cash c, the money
multiplier becomes
A true and unambiguous burden on future generations will be created whenever
government deficit spending
increases the ratio of government expenditure to GDP.
pays for goods that yield no future benefits.
is used as part of a countercyclical fiscal expansion.
pays for capital expenditures.
If a monopoly sets the product level at where elasticity of demand is less than 1, then
total revenue stays the same when the firm decreases its price.
total revenue decreases when the firm increases its price.
marginal revenue is less than zero.
marginal revenue is undefined at this level.
Many movie theaters in Taiwan give discounts for customers who pay tickets by credit
cards issued by some banks. This is a phenomenon of
price collusion among banks.
The value of resources devoted to rent seeking will
equal the monopoly’s accounting profits
reduce deadweight loss.
reduce consumer surplus.
increase social welfare loss.
Compared to a single-price monopoly, the output of a perfectly competitive industry
with the same cost conditions
is fixed and independent of the price set jointly by the competitive firms.
is less than the monopoly’s output.
does not depend on the scale economy of the technology.
is more than the monopoly’s output.
In order to do price discrimination and maximize profit, a monopolist must be able to
do all of the following EXCEPT
identify buyers’ type.
sell a product that cannot be resold.
identify close competitors
determine the output where marginal revenue equals marginal cost.
Two factor inputs are used in a production process. In the relevant range for decision
making, if both factors still have positive marginal products then
map of isoquants are irrelevant in choosing output level.
isoquants are negative sloping as both factors are good substitutes.
isoquants are convex near the production boundary curve.
isoquants are vertical when input demand is very strong.
According to the diagram below, we know that
cost curves can be used for short run decision making only.
long run cost curve is also called total cost curve.
fixed cost is always sunk.
firms should consider of long run cost curves before entry.
The concept of marginal profit is defined as
marginal revenue minus marginal cost.
total revenue minus marginal variable cost.
marginal revenue divided by marginal fixed cost.
marginal revenue times marginal total cost.
At the market clearing price, producer surplus contains the area of
AHB.
0ECQ∗ .
AEC.
0EDQ1.
Which of the following can be thought of as a barrier to entry?
technology for nature monopoly.
expired patents with relevant use.
price taking behavior by the followers.
public regulation for product safety.
上班族以團購方式來購買各類商品:
顯示銷售通路有進入障礙;
交易方式不具有規模經濟;
廠商在做差別定價;
是需求法則價量成反比的作用。
台積電的員工福委會與鄰近的各商家店鋪協議出高額的員工折扣:
鄰近廠商在做差別定價;
避免消費者的逆向選擇;
屬於柏瑞圖的最適狀態;
台積電在做不公平競爭。
台北市民搭乘捷運接駁車享有折扣:
反映出公共運輸有超額供給的現象;
減低發生交通壅塞的外部負效果;
利用悠遊卡的資訊做不對稱使用;
以補貼政策來收攬民心。
政府在各交通據點提供H1N1 疫苗的施打:
減少民眾的資訊不對稱;
發揮疫苗接種的外部效果;
發揮醫療人力的規模經濟;
增加社會公平性。
媒體呼籲政府應與美、日等國簽訂自由貿易協定:
增加石化、機械產業的競爭力;
屬於幼稚產業保護理論的運用;
利用台灣產業的比較優勢;
爭取進入美、日等國的市場。
立院擬修法訂定15 歲以下兒童保單的死亡給付無效:
減少外部效果的發生;
減少道德危險的發生;
避免資訊不對稱;
保險市場有進入障礙。
國家通訊傳播委員會(NCC)宣布將從2010 年4 月1 號開始,行動通信及上網費率
連續3 年都要調降:
電信業有超額供給;
發生市場失靈;
會增加道德危險;
對於非完全競爭市場進行價格管制。
衛生署於2009 年6 月1 日將菸品健康捐由之前的10 元調整成20 元:
進行差別定價;
減少逆向選擇;
將社會外部成本予以內部化;
是寓禁於徵的策略。
立法院於2010 年1 月5 日通過食品衛生管理法規修正案,限定美國牛絞肉、內臟
等6 個高風險部位不得進口:
避免消費者的逆向選擇;
屬於非關稅性貿易障礙;
避免發生道德危險;
造成狂牛症病毒流入台灣。
最近幾年來台灣多數受僱員工的薪資並未調升,利息也是史上最低,但是房地產
與土地價格卻巨幅攀高,這顯示出:
房地產已經泡沫化;
要素投入之間互有替代性;
投機性貨幣需求的增加;
寬鬆貨幣政策下引出風險性高的投資行為。
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