AGEC90 農經一 濟學原理上 期中考一 for 學弟妹版
AGEC 90 農經一 經濟學原理期考I
Part A-Choose the one alternative that best completes the statement of answers the
question. (30%)
1) "Unemployment is a more serious problem than inflation." The statement is an
example of
A) the fallacy of composition
B) positive economics
C) normative economics
D) microeconomics
E) the false-cause fallacy
2)Which of the following correctly completes this statement? Goods are free goods
A) When they have a zero price
B) If the amount people want is less than amount supplied at a zero price
C) If they are provided by nature
D) When the government gives them away
E) If the amount supplied is less than the amount demanded at zero price
3)The production-possibilities frontier
A) Illustrates the fundamental law of scarcity
B) Shows the maximum combinations of goods that can be produced from the
resource and technology available to the society
C) Shows that if resources are being used efficiently society cannot produce
more of one good without producing less of another good
D) Illustrates that opportunity cost increases as more of a good is produced
E) All of the above
4)The production-possibilities frontier will shift upward if
A) More labor, land, or capital becomes available
B) More consumer goods are produced
C) Unemployment is reduced
D) The law of diminishing returns operates
E) Unemployment is increased
5)Which of the following correctly explains the shift in the production frontier shown
above? (圖略)
A) New machines for shoe manufacturing that significantly reduce wasted
materials
B) Improvement in book binding materials that allow more books to be bound to
be bound per hour on existing machinery
C) Textbook companies implement procedures for authors to submit electronic
manuscripts and significantly shorten the composition process
D) Improvements in computer networking that allow large companies to manage
Their regional efficiently
6)Assume that the world contains only two people, Bo and Joe. With one day's labor,
Bo can produce 16 units of cloth or 32 units of food; Joe can produce 8 units of
cloth or 8 units of food. Joe's opportunity cost producing one unit of cloth is
A) 1 unit of food
B) 8 units of food
C) 0.5 units of food
D) 4 units of food
E) None of the above
7)Eddy can make $25 per day repairing televisions or $30 per day installing
telephones; Freddy can make $250 per day repairing televisions or $100 per day
installing telephones.
A) Freddy has a comparative advantage in installing telephones
B) Freddy has a comparative advantage in repairing televisions
C) Eddy has no comparative advantage in either good
D) Eddy has a comparative advantage in repairing televisions
8)An increase in the demand for wheat occurring at rhe same time as an increase in
the supply of wheat
A) must increase the price of the wheat
B) must reduce the price of wheat and the quantity of wheat sold
C) must reduce the quantity of wheat sold
D) must increase the quantity of wheat sold
E) may increase or decrease the price the price of wheat but must reduce the
quantity of wheat sold
9)The supply curve of corn is upward-sloping because
A) Higher prices do not reward farmers experiencing diminishing returns
B) The quantity of the best corn land is limited
C) Higher corn prices cause farmers to plant fewer soybeans
D) There is an unlimited supply of good growers
10)A substantial decrease in air fares should ________ the number of intercity bus
riders and ________ the number of taxi fares to and from airports.
A) Increase; increase
B) Increase; decrease
C) Decrease; decrease
D) Decrease; increase
11)The effect of an increase in student enrollments and a decrease in utility cost
( garbage collection and sewer fees, for example) on the equilibrium price and
quantity of apartments rented by students is
A) Indeterminate with respect to price while quantity decrease
B) Indeterminate with respect to price while quantity increase
C) To increase price while quantity is indeterminate
D) To decrease price while quantity is indeterminate
12)In the mid-1980s the U.S. Department of Agriculture implemented a program in
which about 10% of the nation's dairy farmers were bought out, that is,
government bought the farmer's dairy herd (the animals were subsequently
slaughtered). Which of the above diagrams best illustrates the effect of the policy,
where Q is amount of fluid milk?
選項及圖形略.
13)If the income elasticity of demand for coffee is zero, when income rises people
will tend to
A) Spend less on coffee
B) Spend more on coffee
C) Stop buying coffee
D) Spend the same amount on coffee
E) None of the above
14)If a sporting goods company notices that it cannot sell more tennis balls without
lowering its price,
A) demand is perfectly elastic
B) demand is not perfectly elastic
C) The tennis balls must have no substitutes
D) demand is perfectly inelastic
E) Supply is elastic
15)Figures A and B above (圖略) are identical expect for the relative elasticity of the
demand curve. If a tax of $1 per unit of output is imposed, consumers will bear the
largest burden of the tax
A) in Figures A
B) in Figures A or Figures B since the elasticity of supply is identical
C) in Figures B
D) in neither Figures A nor Figures B since producers will bear the entire burden
of the tax in both diagrams
Part B--- True or False, please explain. (35%)
1. The consumers do not derive any satisfaction from those goods that are not scarce
and thus pay no price for them.
2. As profit maximization requires cost minimization, firm's self-interest can lead to
social production efficiency.
3. Quantities bought and sold are equal at equilibrium. At the price higher than
equilibrium, quantity bought is less than sold and price tends to fall while, at the
price lower than equilibrium, shortage cause price rise.
4. As inputs price elasticity result in supply change, quantity demanded changes at the
resulting equilibrium even smaller at the higher prices.
5. The price elasticity of demand becomes smaller at the lower prices while that of
supply becomes smaller at the higher prices.
6. An oil price shock will cause the production costs increase and thus reduce the
quantity supplied. Therefore, the output price begins to rise, and in turn the supply
increase and demand decrease, which tends to restore the market equilibrium.
Part C---Essay Questions.(50%)
1. Suppose the only two consumers in the market have demand functions represented
by respectively
Qd=10-0.5P
and Qd=6-0.4P
Please derive the market demand function.
2. 試以數字為例說明「報酬遞減」，並以此解釋成本遞增現象。
3. 試以圖詳說「為何供給增加導致價格下降」，並解說「為何供給與需求同時增
加，導致價格可能上升或下降」。
4. 試以圖形解說「何種情況下，比較陡的需求函數彈性一定比較小」，並且「何
種情況下，比較陡的需求函數彈性可能比較大」。
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