经济学原理对应练习 05

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1、Chapter5/ElasticityandItsApplicationsv215Chapter5ElasticityandItsApplicationsMultipleChoice1.Ingeneral,elasticityisameasureofa.theextenttowhichadvancesintechnologyareadoptedbyproducers.b.theextenttowhichamarketiscompetitive.c.howfastthepriceofagoodrespondstoashiftofthesupplycurveordemandcurv

2、e.d.howmuchbuyersandsellersrespondtochangesinmarketconditions.ANS:DPTS:1DIF:1REF:5-0TOP:ElasticityMSC:Definitional2.Whenstudyinghowsomeeventorpolicyaffectsamarket,elasticityprovidesinformationonthea.directionoftheeffectonthemarket.b.magnitudeoftheeffectonthemarket.c.speedofadjustmentofthemar

3、ketinresponsetotheeventorpolicy.d.numberofmarketparticipantswhoaredirectlyaffectedbytheeventorpolicy.ANS:BPTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive3.Howdoestheconceptofelasticityallowustoimproveuponourunderstandingofsupplyanddemand?a.Elasticityallowsustoanalyzesupplyanddemandwithgreate

4、rprecisionthanwouldbethecaseintheabsenceoftheelasticityconcept.b.Elasticityprovidesuswithabetterrationaleforstatementssuchas“anincreaseinxwillleadtoadecreaseiny”thanwewouldhaveintheabsenceoftheelasticityconcept.c.Withoutelasticity,wewouldnotbeabletoaddressthedirectioninwhichpriceislikelytomo

5、veinresponsetoasurplusorashortage.d.Withoutelasticity,itisverydifficulttoassessthedegreeofcompetitionwithinamarket.ANS:APTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive4.Elasticityimprovesourunderstandingofsupplyanddemandbyaddinga.measuresofequity.b.measuresofefficiency.c.aquantitativeelement

6、toouranalysis.d.aqualitativeelementtoouranalysis.ANS:CPTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive5.Thepriceelasticityofdemandmeasureshowmucha.quantitydemandedrespondstoachangeinprice.b.quantitydemandedrespondstoachangeinincome.c.pricerespondstoachangeindemand.d.demandrespondstoachangeins

7、upply.ANS:APTS:1DIF:1REF:5-1TOP:PriceelasticityofdemandMSC:Definitional6.Thepriceelasticityofdemandmeasuresa.buyers’responsivenesstoachangeinthepriceofagood.b.theextenttowhichdemandincreasesasadditionalbuyersenterthemarket.c.howmuchmoreofagoodconsu