AP Microeconomics
Multiple Choice: Choo the best answer to each question. Each question is worth an equal amount.
Answer questions 1-8 using the figure below.
中秋节古诗词
1. In the figure shown, consumer surplus with free trade would be
a. A.
b. A + B.
c. A + C + G.
d. A + B + C + D + E + F.
2. In the figure shown, consumer surplus after the tariff would be
a. A.
b. A + B.
c. A + C + G.
d. A + B + C + D +E + F.
3. In the figure shown, the domestic price and quantity demanded after the tariff would be
a. P1, Q1.
b. P1, Q励志昵称4.
c. P2, Q2.
d. P2, Q3.
4. In the figure shown, the free-trade price and quantity demanded would be
a. P1, Q1.
b. P高中生陈述报告100字1, Q4.
c. P2, Q2.
d. P2, Q3.
5. In the figure shown, producer surplus with free trade would be
a. G.
b. C + G.
c. A + C + G.
d. A + B + C + G.
6. In the figure shown, as a result of the tariff, deadweight loss would be
田子为相文言文翻译a. E.
b. B.
c. D + F.
d. B + D + E + F.
7. In the figure shown, producer surplus after the tariff would be
怎样的英语a. G.
b. C + G.
c. A + C + G.康熙叫什么名字
d. A + B + C + G.
8. In the figure shown, as a result of the tariff, government tariff revenue would be
a. E.
b. B.
c. D + F.电影桥
d. B + D + E + F.
Answer questions 9-16 using the figure below. The figure below reflects the market for outdoor concerts in a public park surrounded by residential neighborhoods.
9. For each unit of “concert” produced, the social cost would include
(i) the private costs of the concert organizers.
(ii) the enjoyment that concert attendees receive from the concert.
(iii) the cost that people in the residential neighborhoods will incur
as a result of the incread traffic and noi spillover on
concert days.
a. (i) only.
b. (i) and (ii) only.
c. (i) and (iii) only.
d. (i), (ii) and (iii).
10. At the private market outcome, the equilibrium price will be
a. P1.
b. P2.
c. P3.
d. P4.
11. Total surplus derived from the most efficient outcome is reprented by the area
a. g.
b. e + g.
c. c + d.
d. a + b + c.
12. Assume that the concert organizers must purcha a concert permit (the cost for the permit is included in private cost) before organizing the concert. What criteria should the city u in determining whether or not to issue a permit?
a. The majority vote of the residents in surrounding neighborhoods should determine whether a permit is issued.
b. As long as the value to consumers of concerts exceeds the cost of concerts (including the external costs) the permit should be issued.
c. As long as concert organizers are willing to return the park to its original condition after the concert, the permit should be issued.
d. The permit should not be issued as long as there are identifiable external costs impod on residents in surrounding neighborhoods.
13. At the private market outcome, price P3 reprents
a. the value of concerts to concert consumers.
b. the total price that would be charged for tickets to attend the concert.
c. the social cost of producing the last concert.
d. the optimal price of a concert from the standpoint of society as a whole.
14. In the figure shown, the difference between the Social Cost curve and the Supply curve reflects
a. the profit margin of each concert.
b. the cost of spillover effects from the concert (e.g., noi and traffic).
c. the value of concerts to society as a whole.
d. the amount by which the city should subsidize the concert organizers.
15. In the figure shown, what price and quantity combination best reprents the optimum price and number of concerts that should be organized?
a. P1, Q1
b. P2, Q0
c. P3, Q1
d. The optimum quantity is zero concerts as long as residents in surrounding neighborhoods are adverly affected by noi and congestion.
16. In the figure shown, the social cost curve is above the supply curve becau
a. it takes into account the external costs impod on society by the concert organizers.
b. municipalities always impo noi restrictions on concerts in parks surrounded by residential neighborhoods.
c. concert tickets are likely to cost more than the concert actually costs the organizers.
d. residents in the surrounding neighborhoods get to listen to the concert for free.
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