经济学原理对应练习 05

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

2、toashiftofthesupplycurveordemandcurve.d.howmuchbuyersandsellersrespondtochangesinmarketconditions.ANS:DPTS:1DIF:1REF:5-0TOP:ElasticityMSC:Definitional2.Whenstudyinghowsomeeventorpolicyaffectsamarket,elasticityprovidesinformationonthea.directionoftheeffecto

3、nthemarket.b.magnitudeoftheeffectonthemarket.c.speedofadjustmentofthemarketinresponsetotheeventorpolicy.d.numberofmarketparticipantswhoaredirectlyaffectedbytheeventorpolicy.ANS:BPTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive3.Howdoestheconceptofelasticity

4、allowustoimproveuponourunderstandingofsupplyanddemand?a.Elasticityallowsustoanalyzesupplyanddemandwithgreaterprecisionthanwouldbethecaseintheabsenceoftheelasticityconcept.b.Elasticityprovidesuswithabetterrationaleforstatementssuchas“anincreaseinxwillleadto

5、adecreaseiny”thanwewouldhaveintheabsenceoftheelasticityconcept.c.Withoutelasticity,wewouldnotbeabletoaddressthedirectioninwhichpriceislikelytomoveinresponsetoasurplusorashortage.d.Withoutelasticity,itisverydifficulttoassessthedegreeofcompetitionwithinamark

6、et.ANS:APTS:1DIF:2REF:5-0TOP:ElasticityMSC:Interpretive4.Elasticityimprovesourunderstandingofsupplyanddemandbyaddinga.measuresofequity.b.measuresofefficiency.c.aquantitativeelementtoouranalysis.d.aqualitativeelementtoouranalysis.ANS:CPTS:1DIF:2REF:5-0TOP:E

7、lasticityMSC:Interpretive5.Thepriceelasticityofdemandmeasureshowmucha.quantitydemandedrespondstoachangeinprice.b.quantitydemandedrespondstoachangeinincome.c.pricerespondstoachangeindemand.d.demandrespondstoachangeinsupply.ANS:APTS:1DIF:1REF:5-1TOP:Priceela

8、sticityofdemandMSC:Definitional6.Thepriceelasticityofdemandmeasuresa.buyers’responsivenesstoachangeinthepriceofagood.b.theextenttowhichdemandincreasesasadditionalbuyersenterthemarket.c.howmuchmoreofagoodconsu