经济学原理对应练习 05

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

2、upplycurveordemandcurve.d.howmuchbuyersandsellersrespondtochangesinmarketconditions.ANS:DPTS:1DIF:1REF:5-0TOP:ElasticityMSC:Definitional2.Whenstudyinghowsomeeventorpolicyaffectsamarket,elasticityprovidesinformationonthea.directionoftheeffectonthemarket.b.magnitudeofthee

3、ffectonthemarket.c.speedofadjustmentofthemarketinresponsetotheeventorpolicy.d.numberofmarketparticipantswhoaredirectlyaffectedbytheeventorpolicy.ANS:BPTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive3.Howdoestheconceptofelasticityallowustoimproveuponourunderstandingofsupp

4、lyanddemand?a.Elasticityallowsustoanalyzesupplyanddemandwithgreaterprecisionthanwouldbethecaseintheabsenceoftheelasticityconcept.b.Elasticityprovidesuswithabetterrationaleforstatementssuchas“anincreaseinxwillleadtoadecreaseiny”thanwewouldhaveintheabsenceoftheelasticityc

5、oncept.c.Withoutelasticity,wewouldnotbeabletoaddressthedirectioninwhichpriceislikelytomoveinresponsetoasurplusorashortage.d.Withoutelasticity,itisverydifficulttoassessthedegreeofcompetitionwithinamarket.ANS:APTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive4.Elasticityimp

6、rovesourunderstandingofsupplyanddemandbyaddinga.measuresofequity.b.measuresofefficiency.c.aquantitativeelementtoouranalysis.d.aqualitativeelementtoouranalysis.ANS:CPTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive5.Thepriceelasticityofdemandmeasureshowmucha.quantitydemand

7、edrespondstoachangeinprice.b.quantitydemandedrespondstoachangeinincome.c.pricerespondstoachangeindemand.d.demandrespondstoachangeinsupply.ANS:APTS:1DIF:1REF:5-1TOP:PriceelasticityofdemandMSC:Definitional6.Thepriceelasticityofdemandmeasuresa.buyers’responsivenesstoachang

8、einthepriceofagood.b.theextenttowhichdemandincreasesasadditionalbuyersenterthemarket.c.howmuchmoreofagoodconsu