中国大学MOOC 经济学原理-北京语言大学 Final Exam

1 Which of the following could explain an increase in the unemployment rate and the number of employed people: 
 Less people are actively looking for work
The school leaving age has risen
The economy has experienced a downturn
喵查答案：The labor force has increased

2 A bank always holds a minimum reserve ratio of 20%. The minimum new deposit that would allow the banks to expand its loans by $1000 is:
$200
喵查答案：$250
$425
$750

3 Which of the following is likely to reduce the growth rate of the money supply?
A large depreciation of the domestic currency
A federal budget deficit
喵查答案：Sales by the central bank of government securities to the money market
An increase in credit creation by commercial banks

4 Which of the following least represents supply side policy to increase long term economic growth ?
A reduction in business taxes
A rise in government spending on education
喵查答案：A fall in interest rates
Less regulation of industry

5 A rise in the level of unsold products (inventories) indicates:
喵查答案：Total income is greater than total expenditure
Investment is greater than savings
Total expenditure is greater than total income
Economic activities is growing

6 For an inferior good, the demand curve
must have a negative slope
is likely to be horizontal
must have a positive slope
喵查答案：may have a positive slope

7 Suppose that the government imposes a business licence fee of $100 on all firms.  Profit-maximizing firms that stay in business will respond to this tax by
raising prices to pay the tax
cutting output to reduce costs
lowering prices to stimulate sales
喵查答案：doing nothing

8 Following an increase in income,
a consumer’s indifference curve will shift
the slope of the budget line will increase.
individual demand curve will not shift
喵查答案：the budget line will shift in a parallel fashion

9 An increase in a monopolist’s average cost will lead to
an increase in price, as the monopolist passes on the price increase
喵查答案：an increase in price only if marginal cost also increases
a decrease in price as the monopolist needs to sell more in order to cover increased costs
an increase in price only if the elasticity of demand is less than 1.0

10 Pure monopoly is characterized by
many firms that produce a homogeneous product
many firms that produce slightly different products that are close substitutes
such a small number of firms that each must figure out how the others will respond to its own actions
喵查答案：one firm, with no competitors, that produces a product with no close substitutes