Principles of Microeconomics
Final Exam A
Regulations:
1)There is zero tolerance for cheating; any student caught cheating will have their paper taken away, and will receive a grade of 0% on the exam。 There will not be any opportunity to re-take the exam later.
2)All books, bags， notes， jackets, and any other belongings will be left at the front of the classroom。 The only belongings you are allowed at your desk are your exam paper and pen/pencils。越狱第四季剧情
3)Mobile phones and other electronic equipment will be turned off， and cannot be ud for any purpo whatsoever during the exam. Students caught using such equipment for any reason during the exam will be assumed to be cheating, and have their papers ized。
4)Calculators that have been approved for u by the test authorities will be allowed。
5)You cannot communicate with any other person inside or outside the classroom， or look at any paper other than your own.
6)Once the exam starts, you cannot leave the examination room for any reason whatsoever until you are finished. If you leave the examination room early， you will also hand in your exam at that time, and will not be allowed to return to continue writing。
7)Be sure to write your name and student number clearly on every page of your exam. 善意的谎言>在线发音词典
men in black
8)When you finish the exam, you may walk quietly to the front of the room to hand it in, and then leave the examination room. You may not talk to anyone el until you’ve left the room.
9)When the time for the exam is finished， you must stop writing and hand in your exam at that time， regardless of whether or not you are finished。 Continuing to write after the time is finished will be considered to constitute cheating, and can lead to izure of yo
ur paper， and/or reduction in your grade。
1. True/Fal （2 points per question）
Example:
Economics is the study of how evenly goods and rvices are distributed within society. ANS: Fivan
1.1、Efficiency means everyone in the economy should receive an equal share of the goods and rvices produced。heroic couplet F
1。2、It is difficult for economists to make obrvations and develop theories， but it is easy for economists to run experiments to generate data to test their theories.大学英语精读第三册 F
1.3、An economy can produce at any point on or inside its production possibilities frontier， but it cannot produce at points outside its production possibilities frontier. T
1。4、In a competitive market, there are so few buyers and so few llers that each has a significant impact on the market price. F
1。5、The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price. T
1.6、At the equilibrium price, the quantity that buyers want to buy exactly equals the quantity that llers want to ll. T 。
环球雅思学校1。7、All el equal, a decrea in demand will cau an increa in producer surplus. F
1。8、When a good is taxed， the tax revenue collected by the government equals the decrea in the welfare of buyers and llers caud by the tax。 F
1。9、If the United Kingdom imports tea cups from other countries， then U.K. producers of tea cups are better off, and U。K。 consumers of tea cups are wor off, as a result of trade. F
1。10、When firms internalize a negative externality， the market supply curve shifts to the left。 T
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2。 Choo the best answer。（2 points per question)
2.1 The law of demand states that, other things equal，( B ）
A. an increa in price caus quantity demanded to increa.
B. an increa in price caus quantity demanded to decrea。
C。 an increa in quantity demanded caus price to increa.
D. an increa in quantity demanded caus price to decrea.
2.2 A good will have a more elastic demand, ( A ）
A. the greater the availability of clo substitutes.
B. the more narrow the definition of the market。
C. the shorter the period of time.
D。 the more it is regarded as a necessity。
2.3 When a tax is placed on the llers of a product， ( B ）
A。 buyers pay more and llers receive more than they did before the tax。
B. buyers pay more and llers receive less than they did before the tax。
C。 buyers pay less and llers receive more than they did before the tax。
济南新东方英语培训D. buyers pay less and llers receive less than they did before the tax。
2。4 Total surplus is （ B )
A。 the total cost to llers of providing the good minus the total value of the good to buyers。
