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1.[单选题] 纠错收藏提问移除

Price elasticity of demand for a good will most likely be greater if:

A
there are no substitutes for the good.
B
consumers consider the good as discretionary.
C
consumers spend a small portion of their budget on the good.

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2.[单选题] 纠错收藏提问移除

If the income elasticity of demand for a product is –0.6, a:

A
1% increase in income will result in a 0.6% increase in demand.
B
1% increase in income will result in a 0.6% decrease in demand.
C
0.6% increase in income will result in a 1% decrease in demand.

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3.[单选题] 纠错收藏提问移除

An individual’s demand for onions is given by the following equation: is the number of onions demanded, Po is the price per pound of onions, I is the household income, and Pt is the price per pound of tomatoes. If the price of onions is $1.25, household income is $2,500, and the price of tomatoes is $3.75, the cross-price elasticity of demand for onions with respect to the price of tomatoes is closest to:

A
–1.0597.
B
–0.0242.
C
–0.0081.

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4.[单选题] 纠错收藏提问移除

In the case of a normal good with a decrease in own price, which of the following statements is most likely true?

A
Both the substitution and income effects lead to an increase in the quantity purchased.
B
The substitution effect leads to an increase in the quantity purchased, while the income effect has no impact.
C
The substitution effect leads to an increase in the quantity purchased, while the income effect leads to a decrease.

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5.[单选题] 纠错收藏提问移除

For a Giffen good, the:

A
demand curve is positively sloped.
B
substitution effect overwhelms the income effect.
C
income and substitution effects are in the same direction.

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6.[单选题] 纠错收藏提问移除

When total revenue is greater than total variable costs but less than total costs, in the short term a firm will most likely:

A
exit the market.
B
stay in the market.
C
shut down production.

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7.[单选题] 纠错收藏提问移除

Diseconomies of scale most likely result from:

A
specialization in the labor force.
B
overlap of business functions and product lines.
C
discounted prices on resources when buying in larger quantities.

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8.[单选题] 纠错收藏提问移除

A firm is operating beyond minimum efficient scale in a perfectly competitive industry. To maintain long-term viability the most likely course of action for the firm is to:

A
operate at the current level of production.
B
increase its level of production to gain economies of scale.
C
decrease its level of production to the minimum point on the long-run average total cost curve.

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9.[单选题] 纠错收藏提问移除

A market structure with relatively few sellers of a homogeneous or standardized product is best described as:

A
oligopoly.
B
monopoly.
C
perfect competition.

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10.[单选题] 纠错收藏提问移除

Which policy alternative is most likely to be effective for growing both the public and private sectors?

A
Easy fiscal/easy monetary policy.
B
Easy fiscal/tight monetary policy.
C
Tight fiscal/tight monetary policy.

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11.[单选题] 纠错收藏提问移除

Suppose three countries produce rulers and pencils with output per worker per day in each country as follows:
Which country has the greatest comparative advantage in the production of rulers?

A
China.
B
Brazil.
C
Mexico.

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12.[单选题] 纠错收藏提问移除

Germany has much more capital per worker than Portugal. In autarky each country produces and consumes both machine tools and wine. Production of machine tools is relatively capital intensive whereas winemaking is labor intensive. According to the Heckscher–Ohlin model, when trade opens:

A
Germany should export machine tools and Portugal should export wine.
B
Germany should export wine and Portugal should export machine tools.
C
Germany should produce only machine tools and Portugal should produce only wine.

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13.[单选题] 纠错收藏提问移除

Which of the following trade restrictions is likely to result in the greatest welfare loss for the importing country?

A
A tariff.
B
An import quota.
C
A voluntary export restraint.

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14.[单选题] 纠错收藏提问移除

Which of the following factors best explains why regional trading agreements are more popular than larger multilateral trade agreements?

A
Minimal displacement costs.
B
Trade diversions benefit members.
C
Quicker and easier policy coordination.

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15.[单选题] 纠错收藏提问移除

The sale of mineral rights would be captured in which of the following balance of payments components?

A
Capital account.
B
Current account.
C
Financial account.

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16.[单选题] 纠错收藏提问移除

Which of the following international trade bodies was the only multilateral body governing international trade from 1948 to 1995?

A
World Trade Organization (WTO).
B
International Trade Organization (ITO).
C
General Agreement on Tariffs and Trade (GATT).

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17.[单选题] 纠错收藏提问移除

In order to minimize the foreign exchange exposure on a euro-denominated receivable due from a German company in 100 days, a British company would most likely initiate a:

A
spot transaction.
B
forward contract.
C
real exchange rate contract.

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18.[单选题] 纠错收藏提问移除

If the base currency in a forward exchange rate quote is trading at a forward discount, which of the following statements is most accurate?

A
The forward points will be positive.
B
The forward percentage will be negative.
C
The base currency is expected to appreciate versus the price currency.

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19.[单选题] 纠错收藏提问移除

The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rates are quoted on the basis of a 360-day year, the 90day forward points in JPY/AUD would be closest to:

A
–377.0.
B
–97.7.
C
98.9.

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20.[单选题] 纠错收藏提问移除

A fixed exchange rate regime in which the monetary authority is legally required to hold foreign exchange reserves backing 100% of its domestic currency issuance is best described as:

A
dollarization.
B
a currency board.
C
a monetary union.

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21.[单选题] 纠错收藏提问移除

A country with a trade deficit will most likely:

A
have an offsetting capital account surplus.
B
save enough to fund its investment spending.
C
buy assets from foreigners to fund the imbalance.

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22.[单选题] 纠错收藏提问移除

A demand function for air conditioners is given by: QDair conditioner = 10,000 – 2 Pair conditioner + 0.0004 income + 30 Pelectric fan –4 Pelectricity At current average prices, an air conditioner costs 5,000 yen, a fan costs 200 yen,and electricity costs 1,000 yen. Average income is 4,000,000 yen. The income elasticity of demand for air conditioners is closest to:

A
0.0004.
B
0.444.
C
40,000.00

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23.[单选题] 纠错收藏提问移除

Increasing the amount of one productive input while keeping the amounts of other inputs constant results in diminishing marginal returns:

A
in all cases.
B
when it causes total output to decrease.
C
when the increase in total output becomes smaller.

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24.[单选题] 纠错收藏提问移除

In which market structure(s) can a firm’s supply function be described as its marginal cost curve above its average variable cost curve?

A
Oligopoly or monopoly.
B
Perfect competition only.
C
Perfect competition or monopolistic competition.

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25.[单选题] 纠错收藏提问移除

In a purely competitive market, economic losses indicate that:

A
price is below average total costs.
B
collusion is occurring in the market place.
C
firms need to expand output to reduce costs.

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26.[单选题] 纠错收藏提问移除

A firm is likely to operate in the short run as long as price is at least as great as:

A
marginal cost.
B
average total cost.
C
average variable cost.

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27.[单选题] 纠错收藏提问移除

The demand for products from monopolistic competitors is relatively elastic due to:

A
high barriers to entry.
B
the availability of many close substitutes.
C
the availability of many complementary goods.

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28.[单选题] 纠错收藏提问移除

A firm will most likely maximize profits at the quantity of output for which:

A
price equals marginal cost.
B
price equals marginal revenue.
C
marginal cost equals marginal revenue.

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29.[单选题] 纠错收藏提问移除

A monopolist will expand production until MR = MC and charge a price determined by the:

A
demand curve.
B
marginal cost curve.
C
average total cost curve.

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30.[单选题] 纠错收藏提问移除

Which of the following is most likely an advantage of the Herfindahl-Hirschman Index relative to the N-firm concentration ratio? The Herfindahl-Hirschman Index:

A
is simpler to calculate.
B
considers barriers to entry.
C
is more sensitive to mergers.

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31.[单选题] 纠错收藏提问移除

The income from a financial investment in Country P by a citizen of Country Q is most likely included in:

A
Country P’s GDP but not its GNP.
B
Country Q’s GNP and GDP.
C
Country P’s GDP and GNP.

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32.[单选题] 纠错收藏提问移除

The goal of a government that imposes restrictions on foreign capital flows is most likely to:

A
stimulate domestic interest rates.
B
decrease domestic asset price volatility.
C
encourage competition with domestic industries.

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33.[单选题] 纠错收藏提问移除

One year ago, the nominal exchange rate for USD/EUR was 1.300. Since then, the real exchange rate has increased by 3%. This most likely implies that:

A
the nominal exchange rate is less than USD/EUR 1.235
B
the purchasing power of the euro has increased approximately 3% in terms of U.S. goods.
C
inflation in the euro zone was approximately 3% higher than inflation in the United States.

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答题卡

Price elasticity of demand for a good will most likely be greater if:

If the income elasticity of demand for a product is –0.6, a:

In the case of a normal good with a decrease in own price, which of the following statements is most likely true?

For a Giffen good, the:

When total revenue is greater than total variable costs but less than total costs, in the short term a firm will most likely:

Diseconomies of scale most likely result from:

A firm is operating beyond minimum efficient scale in a perfectly competitive industry. To maintain long-term viability the most likely course of action for the firm is to:

A market structure with relatively few sellers of a homogeneous or standardized product is best described as:

Which policy alternative is most likely to be effective for growing both the public and private sectors?

Suppose three countries produce rulers and pencils with output per worker per day in each country as follows: Which country has the greatest comparative advantage in the production of rulers?

Germany has much more capital per worker than Portugal. In autarky each country produces and consumes both machine tools and wine. Production of machine tools is relatively capital intensive whereas winemaking is labor intensive. According to the Heckscher–Ohlin model, when trade opens:

Which of the following trade restrictions is likely to result in the greatest welfare loss for the importing country?

Which of the following factors best explains why regional trading agreements are more popular than larger multilateral trade agreements?

The sale of mineral rights would be captured in which of the following balance of payments components?

Which of the following international trade bodies was the only multilateral body governing international trade from 1948 to 1995?

In order to minimize the foreign exchange exposure on a euro-denominated receivable due from a German company in 100 days, a British company would most likely initiate a:

If the base currency in a forward exchange rate quote is trading at a forward discount, which of the following statements is most accurate?

The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rates are quoted on the basis of a 360-day year, the 90day forward points in JPY/AUD would be closest to:

A fixed exchange rate regime in which the monetary authority is legally required to hold foreign exchange reserves backing 100% of its domestic currency issuance is best described as:

A country with a trade deficit will most likely:

Increasing the amount of one productive input while keeping the amounts of other inputs constant results in diminishing marginal returns:

In which market structure(s) can a firm’s supply function be described as its marginal cost curve above its average variable cost curve?

In a purely competitive market, economic losses indicate that:

A firm is likely to operate in the short run as long as price is at least as great as:

The demand for products from monopolistic competitors is relatively elastic due to:

A firm will most likely maximize profits at the quantity of output for which:

A monopolist will expand production until MR = MC and charge a price determined by the:

Which of the following is most likely an advantage of the Herfindahl-Hirschman Index relative to the N-firm concentration ratio? The Herfindahl-Hirschman Index:

The income from a financial investment in Country P by a citizen of Country Q is most likely included in:

The goal of a government that imposes restrictions on foreign capital flows is most likely to:

One year ago, the nominal exchange rate for USD/EUR was 1.300. Since then, the real exchange rate has increased by 3%. This most likely implies that:

考试形式介绍

Suppose three countries produce rulers and pencils with output per worker per day in each country as follows:
Which country has the greatest comparative advantage in the production of rulers?