MC

Chapter 1   问题 1 10 分   保存     A regulatory budget would provide an accounting of government regulation. be difficult to compute. have to be attempted unofficially. be all of the above.   问题 2 10 分   保存     Public finance is not like public economics. develops principles for understanding the economic role of government. only works for local and state governments. is all of the above.   问题 3 10 分   保存     Economists who study the role of government in the market agree mostly on the role that the government should play. study for market problems that the government might help solve. find that supply and demand graphs never work for the government. do none of the above.   问题 4 10 分   保存     Government output is hard to account for because government is so large. provides goods that have no resale value. keeps secrets about what it produces. goods are generally not sold or produced in easily measurable units.   问题 5 10 分   保存     Taxes are mandatory payments. are necessary for financing government expenditures. do not directly relate to the benefit of government goods and services received. are all of the above.   问题 6 10 分   保存     A government good or service includes bridges. parks. national defense. all of the above.   问题 7 10 分   保存     Government is designed to handle problems not addressed by the private sector. True. False. Uncertain.   问题 8 10 分   保存     Economics is all about making money. has nothing to do with money. is the study of unlimited wants but limited resources. has no “real world” relevance.   问题 9 10 分   保存     The taxes paid by citizens are directly related to the benefit of government goods and services received. True. False. Uncertain.   问题 10 10 分   保存     In a pure market economy, there is no role for government. government intervention might be needed. large markets where people meet to buy and sell are required. all of the above. Chapter 2   问题 1 10 分   保存     Theory is always necessary for empirical research. True. False. Uncertain.   问题 2 10 分   保存     Normative economics does not depend on market interactions. only looks at the best parts of the economy. examines how the economy actually works (as opposed to how it should work). embodies value judgments.   问题 3 10 分   保存     Data that is considered observational can be cross-sectional time series panel all of the above   问题 4 10 分   保存     The function Y = f(X,Z) means X multiplied by Y equals f. X + Y = Z. Y is a function of both X and Z. none of the above.   问题 5 10 分   保存     Unobserved influences on a regression are captured in the error term. parameters. regression line. significance term. regression coefficient.   问题 6 10 分   保存     Empirical analysis generally deals with theory and little data. True. False. Uncertain.   问题 7 10 分   保存     Positive economics does not depend on market interactions. only looks at the best parts of the economy. examines how the economy actually works (as opposed to how it should work). is very subjective.   问题 8 10 分   保存     Economists attempt, with moderate success, to perform controlled experiments making policy analysis helpful. True. False. Uncertain.   问题 9 10 分   保存     The substitution effect is when individuals consume more of one good and less of another. is associated with changes in relative prices. will have no effect if goods are unrelated. is all of the above.   问题 10 10 分   保存     A counterfactual is what happens when there are no facts. what would have happened if the treatment group had not received the treatment. a legal term describing the process of proving that a negative is the actual truth. none of the above.   问题 11 10 分   保存     Econometrics is the statistical analysis of economic data. True. False. Uncertain.   问题 12 10 分   保存     Causation and Correlation are generally the same thing. True. False. Uncertain.   问题 13 10 分   保存     The marginal rate of substitution is the slope of the utility curve. the slope of the contract curve. the slope of the utility possibilities curve. none of the above.   问题 14 10 分   保存     The slope of a regression line is calculated by dividing the intercept by the change in horizontal distance. the change in horizontal distance by the change in vertical distance. the change in horizontal distance by the intercept term. the change in vertical distance by the change in horizontal distance. none of the above.   问题 15 10 分   保存     The following can be analyzed using econometrics: labor supply. market demand. tax-setting behavior. poverty. all of the above. Chapter 3 问题 1 10 分   保存     The First Fundamental Theorem of Welfare Economics requires producers and consumers to be price takers. that there be a market for every commodity. that the economy operate at some point on the utility possibility curve. all of the above.   问题 2 10 分   保存     When the First Fundamental Theorem of Welfare Economics doesn't hold, there is a market failure. True. False. Uncertain.   问题 3 10 分   保存     The Second Fundamental Theorem of Welfare Economics requires that indifference curves be convex to the origin. that isoquants be concave to the origin. that there are no set prices for Pareto efficient allocations. that production be twice as large as consumption. all of the above.   问题 4 10 分   保存     The Utility Possibility Curve is derived from utility curves. True. False. Uncertain.   问题 5 10 分   保存     The Edgeworth Box should lie inside the PPF. lie partially inside the PPF. lie completely outside of the PPF. never touch the PPF.   问题 6 10 分   保存     The contract curve is the collection of points where utility curves are tangent in the Edgeworth box. True. False. Uncertain.   问题 7 10 分   保存     A social welfare function is a function made by the Department of Welfare. is a function that shows that the utilities of society are incorporated into society's well-being. can never be derived numerically. is all of the above.   问题 8 10 分   保存     Normative economics is more important than positive economics. True. False. Uncertain.   问题 9 10 分   保存     The marginal rate of substitution is the slope of the utility curve. the slope of the contract curve. the slope of the utility possibilities curve. none of the above.   问题 10 10 分   保存     Welfare economics is concerned with individual desirability of alternative economic states. True. False. Uncertain. Chapter 4  问题 1 10 分   保存     A private good is nonrival in consumption. subject to free rider problems. subject to exclusion. not subject to exclusion. none of the above.   问题 2 10 分   保存     When asked to reveal their true preferences people always tell the truth. never tell the truth. sometimes tell the truth. generally don't know what preferences are.   问题 3 10 分   保存     Which of the following is a public good? public defense public television a library schools all of the above   问题 4 10 分   保存     A pure private good is nonrival in consumption and subject to exclusion. rival in consumption and subject to exclusion. rival in consumption and not subject to exclusion. all of the above.   问题 5 10 分   保存     A ________ is a person who wants to enjoy the benefits of a public good without contributing his or her marginal benefit to the cost of financing the amount made. free rider politician price maker price optimizer   问题 6 10 分   保存     Summing demand curves horizontally sends market ______________ to individuals, while summing vertically sends market ______________ to individuals. price; price quantity; quantity quantity; price price; quantity   问题 7 10 分   保存     Equilibrium for public goods is characterized by MSB = MSB. ΣMRS = MRT. MRS = MRS = MRS=…=MRS = MRT. MC = MB. MRS – MRT = MSB.   问题 8 10 分   保存     Demand curves for pure public goods satisfy the law of demand. True. False. Uncertain.   问题 9 10 分   保存     The MRT is the marginal ring tone. the minimal rate of time. the maximum rate of transformation. none of the above.   问题 10 10 分   保存     Public goods are characterized by nonrivalness. excludability. the sum of the MRSs equaling MRT. all of the above. Chapter 5  问题 1 10 分   保存     Reducing output from the privately optimal level to the socially optimal level will cause a loss of consumption to consumers. reduce marginal damages. reduce the production costs. cause all of the above.   问题 2 10 分   保存     A Pigouvian subsidy can not exist with externalities. is the same thing as a Pigouvian tax. is measured in terms of Pigouvian dollars. moves production to the socially optimal level of output.   问题 3 10 分   保存     Any commodity market has the potential to have an externality. True. False. Uncertain.   问题 4 10 分   保存     Marketoriented solutions to externalities rarely work. True. False. Uncertain.   问题 5 10 分   保存     For market efficiency, MSC must be equated to MSB. True. False. Uncertain.   问题 6 10 分   保存     A cap-and-trade policy has a set number of permits allows polluters to trade permits caps the total level of pollution allowed all of the above none of the above   问题 7 10 分   保存     An emissions fee is preferable to a cap-and-trade when MSB are elastic and costs are uncertain. True. False. Uncertain.   问题 8 10 分   保存     A Pigouvian tax corrects for market congestion. market losses. inefficient sales. low market prices.   问题 9 10 分   保存     Externalities can be positive because marginal damages do not last over time. utility can be impacted positively as well as negatively. there is no concept for marginal benefit. positive externalities are subsidies.   问题 10 10 分   保存     A Pigouvian subsidy can not exist with externalities. is the same thing as a Pigouvian tax. is measured in terms of Pigouvian dollars. moves production to the socially optimal level of output.   问题 11 10 分   保存     Marginal damages are hard to measure because they can be generated from multiple sources. they are hard to graph. they happen over time. no one cares about them.   问题 12 10 分   保存     Pollution rights can be traded and are always efficient. True. False. Uncertain.   问题 13 10 分   保存     Externalities can be produced by ____________, as well as ____________. individuals; firms market prices; market incomes oceans; streams none of the above   问题 14 10 分   保存     Refer to Figure 5.7 in the textbook. What does it mean if all firms have to reduce to a point ? Firm X will reduce more than optimal. Firm Z will reduce less than optimal. The new point is between X* and Z*. All of the above.   问题 15 10 分   保存     Command-and-control regulations are less flexible than incentive based regulations come from the private sector have technology standards a type of control a & c a & b Chapter 6  问题 1 10 分   保存     Special interest groups are established on the basis of sources of labor. size of income. sources of income. region. all of the above.   问题 2 10 分   保存     Applying economic principles to the analysis of political decision making is political economy. True. False. Uncertain.   问题 3 10 分   保存     With multiple-peaked preferences, a unique political equilibrium does not exist. all individuals have a point that is most preferred. the law of transitivity is violated. all of the above.   问题 4 10 分   保存     Elected officials never care about the wishes of the voting public and govern using their own value system. True. False. Uncertain.   问题 5 10 分   保存     In a representative democracy, there are elected politicians. public employees. special interests. all of the above.   问题 6 10 分   保存     Which of the following is an example of a special-interest group? Democratic party Bureau of Alcohol, Tobacco, and Firearms National Rifle Association Association of State Legislators all of the above   问题 7 10 分   保存     Rent seeking involves finding reasonable rent rates. price floors. price ceilings. citizen groups lobbying elected officials to manipulate government policy. none of the above.   问题 8 10 分   保存     Majority rule voting requires a simple majority greater than half the voters. requires that rules of order be established. does not occur in democracies. can only be applied to single issues.   问题 9 10 分   保存     Lindahl prices result in efficient levels of public goods provision. require honest revelation of preferences. result in different prices for the same amount of output. cause all of the above. cause none of the above.   问题 10 10 分   保存     Under certain assumptions, the actions of elected officials mimic the wishes of the median voter. True. False. Uncertain.   问题 11 10 分   保存     Governments can work efficiently whether large or small. True. False. Uncertain.   问题 12 10 分   保存     When each individual has consistent preferences, but those of the community are not consistent, it is known as agenda manipulation. majority rule. voting paradox. logrolling. independence of irrelevant alternatives.   问题 13 10 分   保存     Logrolling is a system used often at lumberjack contests. a system that will always lead to worthy projects getting funded. a system that involves the trading of votes. a system that generally involves double-peaked preferences. all of the above.   问题 14 10 分   保存     Government growth has been caused by citizens who want larger government. lots of public lands available in the West. increases in privatization. inflation. none of the above.   问题 15 10 分   保存     Mathematically, agenda manipulation can not occur with economies greater than four people. True. False. Uncertain. Chapter 8 问题 1 10 分   保存     The term “future value” can be determined by inverting the formula for present value. is not used in modern public finance analysis. refers to the present value of future money. includes the shadow prices of all goods used in a project. refers to none of the above.   问题 2 10 分   保存     The value that society places on consumption that is sacrificed in the present is called social marginal costs. social marginal damages. social rate of discount. social returns. none of the above.   问题 3 10 分   保存     The Hicks-Kaldor criterion states that all borrowing should be done from large financial institutions. there should be the potential for Pareto improvements between gainers and losers. loss wages should be compensated by Unemployment Insurance. distribution effects should have no bearing on project decisions. all of the above.   问题 4 10 分   保存     The term “present value” refers to the future value of present day money. True. False. Uncertain.   问题 5 10 分   保存     The rate at which future money must be discounted is known as the rate of inflation. exposure rate. discount rate. time rate.   问题 6 10 分   保存     One of the steps in cost-benefit analysis is identifying inputs and outputs. True. False. Uncertain.   问题 7 10 分   保存     Benefits of a project can change over time. can be difficult to measure. should be larger than costs. are sometimes intangible. are all of the above.   问题 8 10 分   保存     For certain intangibles that can not be measured, it is best to guess. exclude them from cost benefit analysis, and then calculate how large they must be to reverse the decision. reevaluate using the Hicks-Kaldor criterion. leave it to the private sector to decide on value. do all of the above.   问题 9 10 分   保存     When the benefit-cost ratio of a project is greater than 1, the project should be considered. True. False. Uncertain.   问题 10 10 分   保存     Internal rate of return analysis suggest that a project should be undertaken if NPV > 0 MB > 0 IRR > discount rate discount rate > inflation rate inflation rate > exposure rate   问题 11 10 分   保存     The internal rate of return is likely to lead to incorrect decisions. True. False. Uncertain.   问题 12 10 分   保存     Cost-benefit analysis is a set of practical procedures for guiding pubic expenditure decisions. used by the private sector to determine whether certain projects should be undertaken. difficult when benefits and costs are hard to evaluate. mindful of changes over time. all of the above. Chapter 12 问题 1 10 分   保存     A notion that supports the idea that some items should be distributed equally to all is known as Pareto efficiency. the Hoover Principle. poverty gap closing. commodity egalitarianism. none of the