Chapter06曼昆经济学

159Chapter6Supply,Demand,andGovernmentPoliciesMULTIPLECHOICE1.Pricecontrolsarea.usedtomakemarketsmoreefficient.b.usuallyenactedwhenpolicymakersbelievethatthemarketpriceofagoodorserviceisunfairtobuyersorsellers.c.nearlyalwayseffectiveineliminatinginequities.d.establishedbyfirmswithmonopolypower.ANSWER:b.usuallyenactedwhenpolicymakersbelievethatthemarketpriceofagoodorserviceisunfairtobuyersorsellers.TYPE:MDIFFICULTY:22.Policymakerschoosetoenactpricecontrolsinamarketbecausea.theybelievethemarket’soutcometobeunfair.b.enactingpricecontrolswilldirectlyincreasetaxrevenues.c.theyarerequiredbylawtoimprovemarketconditions.d.theybelievethatthemarketsystemisinefficientandtheiractionswillimproveefficiency.ANSWER:a.theybelievethemarket’soutcometobeunfair.TYPE:MSECTION:1DIFFICULTY:23.Policymakersareledtocontrolpricesbecausea.theyviewthemarket’soutcomeasinefficient.b.theyviewthemarket’soutcomeasunfair.c.allpoliticiansenjoyexercisingtheirpower.d.theyarerequiredtodosoundertheEmploymentActof1946.ANSWER:b.theyviewthemarket’soutcomeasunfair.TYPE:MSECTION:1DIFFICULTY:24.Pricecontrolsa.alwaysproduceanequitableoutcome.b.alwaysproduceanefficientoutcome.c.cangenerateinequitiesoftheirown.d.producerevenueforthegovernment.ANSWER:c.cangenerateinequitiesoftheirown.TYPE:MSECTION:1DIFFICULTY:25.Whichofthefollowingisareasonpolicymakersimposetaxes?a.toattempttomakemarketsmoreefficientb.toinfluencemarketoutcomesc.toraiserevenueforpublicused.Alloftheabovearecorrect.e.Bothbandcarecorrect.ANSWER:e.Bothbandcarecorrect.TYPE:MSECTION:1DIFFICULTY:26.Alegalmaximumpriceatwhichagoodcanbesoldisapricea.floor.b.stabilization.c.support.d.ceiling.ANSWER:d.ceiling.TYPE:MSECTION:1DIFFICULTY:1160Chapter6/Supply,Demand,andGovernmentPolicies7.Agovernment-imposedmaximumpriceatwhichagoodcanbesoldiscalledapricea.floor.b.ceiling.c.support.d.equilibrium.ANSWER:b.ceiling.TYPE:MSECTION:1DIFFICULTY:18.Apriceceilinga.isalegalmaximumonthepriceatwhichagoodcanbesold.b.isalegalminimumonthepriceatwhichagoodcanbesold.c.occurswhenthepriceinthemarketistemporarilyaboveequilibrium.d.willusuallyresultinamarketsurplus.ANSWER:a.isalegalmaximumonthepriceatwhichagoodcanbesold.TYPE:MSECTION:1DIFFICULTY:19.Alegalminimumpriceatwhichagoodcanbesoldisapricea.cut.b.stabilization.c.ceiling.d.floor.ANSWER:d.floor.TYPE:MSECTION:1DIFFICULTY:110.Apricefloora.isalegalminimumonthepriceatwhichagoodcanbesold.b.isalegalmaximumonthepriceatwhichagoodcanbesold.c.willgenerallyresultinamarketshortage.d.willbenefittheconsumer,buthurtthesupplier.ANSWER:a.isalegalminimumonthepriceatwhichagoodcanbesold.TYPE:MSECTION:1DIFFICULTY:111.Apriceceilingwillonlybebindingifitisseta.equaltoequilibriumprice.b.aboveequilibriumprice.c.belowequilibriumprice.d.Apriceceilingisneverbindinginafreemarketsystem.ANSWER:c.belowequilibriumprice.TYPE:MSECTION:1DIFFICULTY:212.Abindingpriceceilingcausesa.ashortage,whichcannotbeeliminatedthroughmarketadjustment.b.asurplus,whichcannotbeeliminatedthroughmarketadjustment.c.ashortage,whichistemporary,sincemarketadjustmentwillcausepricetorise.d.asurplus,whichistemporary,sincemarketadjustmentwillcausepricetorise.ANSWER:a.ashortage,whichcannotbeeliminatedthroughmarketadjustment.TYPE:MSECTION:1DIFFICULTY:213.Ifapriceceilingisnotbinding,a.theequilibriumpriceisabovetheceiling.b.theequilibriumpriceisbelowtheceiling.c.ithasnolegalenforcementmechanism.d.peoplemustvoluntarilyagreetoabidebyit.ANSWER:b.theequilibriumpriceisbelowtheceiling.TYPE:MSECTION:1DIFFICULTY:2Chapter6/Supply,Demand,andGovernmentPolicies16114.Apriceceilingthatisnotbindingwilla.causeasurplusinthemarket.b.causeashortageinthemarket.c.causethemarkettobelessefficient.d.havenoeffectonthemarketprice.ANSWER:d.havenoeffectonthemarketprice.TYPE:MSECTION:1DIFFICULTY:215.Bindingpriceceilingsinamarketcausequantitydemandedtobea.greaterthanquantitysupplied.b.equaltoquantitysupplied.c.lessthanquantitysupplied.d.Anyoftheabovearepossible.ANSWER:a.greaterthanquantitysupplied.TYPE:MSECTION:1DIFFICULTY:316.Ifabindingpriceceilingisimposedinamarketa.therewillbeasurplusinthemarket.b.thepricewillbelegallyforcedtowardequilibriumprice.c.therewillbeashortageinthemarket.d.marketforceswillguaranteethatthepricewillbeatequilibrium.ANSWER:c.therewillbeashortageinthemarket.TYPE:MSECTION:1DIFFICULTY:217.Inthefigureshown,abindingpriceceilingisshownina.panel(a).b.panel(b).c.bothpanel(a)andpanel(b).d.neitherpanel(a)norpanel(b).ANSWER:b.panel(b).TYPE:MSECTION:1DIFFICULTY:218.Inwhichpanel(s)inthefigureshownwouldtherebeashortageforCDsattheceilingprice?a.panel(a)b.panel(b)c.panel(a)andpanel(b)d.neitherpanel(a)norpanel(b)ANSWER:b.panel(b)TYPE:MSECTION:1DIFFICULTY:2162Chapter6/Supply,Demand,andGovernmentPolicies19.Accordingtothegraphshown,abindingpriceceilingwouldexistatapriceofa.$14.00.b.$12.00.c.$10.00.d.$8.00.ANSWER:d.$8.00.TYPE:MSECTION:1DIFFICULTY:220.Accordingtothegraphshown,ifthegovernmentimposesabindingpricefloorof$14.00inthismarket,theresultwouldbeaa.surplusof20.b.surplusof40.c.shortageof20.d.shortageof40.ANSWER:b.surplusof40.TYPE:MSECTION:1DIFFICULTY:321.Accordin