经济学原理对应练习-04

117Chapter4TheMarketForcesofSupplyandDemandMultipleChoice1.Theforcesthatmakemarketeconomiesworkarea.workandleisure.b.demandandsupply.c.regulationandrestraint.d.taxesandgovernmentspending.ANS:BPTS:1DIF:1REF:4-0TOP:MarketeconomyMSC:Interpretive2.Whichofthefollowingarethewordsmostcommonlyusedbyeconomists?a.surplusandshortageb.resourcesandallocationc.supplyanddemandd.theoryandpracticeANS:CPTS:1DIF:1REF:4-0TOP:EconomistsMSC:Interpretive3.Inamarketeconomy,a.supplydeterminesdemandand,inturn,demanddeterminesprices.b.demanddeterminessupplyand,inturn,supplydeterminesprices.c.theallocationofscarceresourcesdeterminespricesand,inturn,pricesdeterminesupplyanddemand.d.supplyanddemanddeterminepricesand,inturn,pricesallocatescarceresources.ANS:DPTS:1DIF:2REF:4-0TOP:MarketeconomyMSC:Interpretive4.Inamarketeconomy,supplyanddemandareimportantbecausetheya.playacriticalroleintheallocationoftheeconomy’sscarceresources.b.determinehowmuchofeachgoodgetsproduced.c.canbeusedtopredicttheimpactontheeconomyofvariouseventsandpolicies.d.Alloftheabovearecorrect.ANS:DPTS:1DIF:1REF:4-0TOP:MarketeconomyMSC:Interpretive5.Amarketisaa.groupofbuyersandsellersofaparticulargoodorservice.b.groupofpeoplewithcommoneconomiccharacteristics.c.placewherebuyersandsellerscometogethertoengageintrade.d.placewhereanauctioneerhelpssetpricesandarrangesales.ANS:APTS:1DIF:1REF:4-1TOP:MarketsMSC:Definitional6.Foramarketforagoodorservicetoexist,a.theremustbeagroupofbuyersandsellers.b.theremustbeaspecifictimeandplaceatwhichthegoodorserviceistraded.c.thepriceofthegoodmustbedeterminedbythesellers.d.Alloftheabovearecorrect.ANS:APTS:1DIF:1REF:4-1TOP:Market(sMSC:Definitional7.Thetermmarketalwaysreferstoa.anarrangementinwhichbuyersandsellersmeetataspecifictimeandplace.b.anarrangementinwhichanauctioneerplaysatleastalimitedroleinsettingprices.c.agroupofbuyersandsellersofaparticulargoodorservice.d.Alloftheabovearecorrect.ANS:CPTS:1DIF:1REF:4-1TOP:MarketsMSC:Definitional118Chapter4/TheMarketForcesofSupplyandDemand8.Agroupofbuyersandsellersofaparticulargoodorserviceiscalledaa.coalition.b.partnership.c.market.d.union.ANS:CPTS:1DIF:1REF:4-1TOP:MarketsMSC:Definitional9.Amarketisalwayscharacterizedbya.ahighdegreeoforganization.b.anindividualorsmallgroupofindividualswhosetthepriceoftheproductforallbuyersandsellers.c.thepresenceofbuyersandsellers.d.Alloftheabovearecorrect.ANS:CPTS:1DIF:2REF:4-1TOP:MarketsMSC:Interpretive10.Whichofthefollowingstatementsiscorrect?a.Buyersdeterminesupplyandsellersdeterminedemand.b.Buyersdeterminedemandandsellersdeterminesupply.c.Buyersandsellersasonegroupdeterminesupply,butonlybuyersdeterminedemand.d.Buyersandsellersasonegroupdeterminedemand,butonlysellersdeterminesupply.ANS:BPTS:1DIF:2REF:4-1TOP:Demand|SupplyMSC:Interpretive11.Foreachgoodproducedinamarketeconomy,theinteractionofdemandandsupplydeterminesa.thepriceofthegood,butnotthequantity.b.thequantityofthegood,butnottheprice.c.boththepriceofthegoodandthequantityofthegood.d.neitherpricenorquantity,becausepricesandquantitiesaredeterminedbythesellersofthegoodsalone.ANS:CPTS:1DIF:2REF:4-1TOP:MarketeconomyMSC:Interpretive12.Acompetitivemarketisamarketinwhicha.anauctioneerhelpssetpricesandarrangesales.b.thereareonlyafewsellers.c.theforcesofsupplyanddemanddonotapply.d.noindividualbuyerorsellerhasanysignificantimpactonthemarketprice.ANS:DPTS:1DIF:1REF:4-1TOP:CompetitivemarketsMSC:Definitional13.Thedemandforagoodorserviceisdeterminedbya.thosewhobuythegoodorservice.b.thegovernment.c.theproducerswhocreatethegoodorservice.d.thosewhosupplytherawmaterialsusedintheproductionofthegoodorservice.ANS:APTS:1DIF:2REF:4-1TOP:DemandMSC:Interpretive14.Acompetitivemarketisoneinwhicha.thereisonlyoneseller,buttherearemanybuyers.b.therearemanysellersandeachsellerhastheabilitytosetthepriceofhisproduct.c.therearemanysellersandtheycompetewithoneanotherinsuchawaythatsomesellersarealwaysbeingforcedoutofthemarket.d.therearesomanybuyersandsomanysellersthateachhasanegligibleimpactonthepriceoftheproduct.ANS:DPTS:1DIF:2REF:4-1TOP:CompetitivemarketsMSC:DefinitionalChapter4/TheMarketForcesofSupplyandDemand11915.Inacompetitivemarket,a.onlyafewsellerssellthesameproduct.b.eachsellerhasalimiteddegreeofcontroloverthepriceofhisproduct.c.ifonebuyerchoosestopurchasealargequantityoftheproduct,thepricewillrise.d.ifonesellerwithholdshisproductfromthemarket,priceswillrise.ANS:BPTS:1DIF:2REF:4-1TOP:CompetitivemarketsMSC:Interpretive16.Inacompetitivemarket,eachsellerhaslimitedcontroloverthepriceofhisproductbecausea.othersellersareofferingsimilarproducts.b.buyersexertmorecontroloverthepricethandosellers.c.thesemarketsarehighlyregulatedbygovernment.d.sellersusuallyagreetosetacommonpricethatwillalloweachsellertoearnacomfortableprofit.ANS:APTS:1DIF:2REF:4-1TOP:CompetitivemarketsMSC:Interpretive17.Mostmarketsintheeconomyarea.marketsinwhichsellers,ratherthanbuyers,controlthepriceoftheproduct.b.marketsinwhichbuyers,ratherthansellers,controlthepriceoftheproduct.c.marketsinwhicheachselleroftheproductisawarethattherearefew,ifany,similarproductsofferedbyothersell