Chapter07曼昆经济学

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1、Chapter7/Consumers,Producers,andtheEfficiencyofMarketsF213Chapter7Consumers,Producers,andtheEfficiencyofMarketsMULTIPLECHOICE1.Welfareeconomicsisthestudyofa.thewell-beingoflessfortunatepeople.b.welfareprogramsintheUnitedStates.c.theeffectofincomeredistributiononworkeffort.d.howtheallocationofresourc

2、esaffectseconomicwell-being.ANSWER:d.howtheallocationofresourcesaffectseconomicwell-being.TYPE:MDIFFICULTY:12.Thestudyofhowtheallocationofresourcesaffectseconomicwell-beingiscalleda.consumereconomics.b.macroeconomics.c.welfareeconomics.d.supply-sideeconomics.ANSWER:c.welfareeconomics.TYPE:MDIFFICULT

3、Y:13.Withrespecttowelfareeconomics,theequilibriumpriceofaproductisconsideredtobethebestpricebecauseita.maximizestotalrevenuetofirmsandtotalutilitytobuyers.b.maximizesthetotalwelfareofbuyersandsellers.c.minimizescostsandmaximizesprofitsofsellers.d.minimizesthelevelofwelfarepaymentstothosewhonolongerl

4、ivebelowthepovertyline.ANSWER:b.itmaximizesthetotalwelfareofbuyersandsellers.TYPE:MDIFFICULTY:24.Positiveanalysisreferstowhata.is.b.shouldbe.c.couldbe.d.ispoliticallycorrect.ANSWER:a.is.TYPE:MDIFFICULTY:15.Normativeanalysisreferstowhata.is.b.shouldbe.c.maximizesefficiency.d.ispoliticallycorrect.ANSW

5、ER:b.shouldbe.TYPE:MDIFFICULTY:16.Theequilibriumofsupplyanddemandinamarketa.maximizestheprofitsofproducers.b.canonlybeachievedwithgovernmentintervention.c.producesbothanefficientandequitablemarketoutcome.d.maximizesthetotalbenefitsreceivedbybuyersandsellers.ANSWER:d.maximizesthetotalbenefitsreceived

6、bybuyersandsellers.TYPE:MDIFFICULTY:2Chapter7/Consumers,Producers,andtheEfficiencyofMarketsF2137.Theparticularpricethatresultsinquantitysuppliedbeingequaltoquantitydemandedisthebestpricebecauseita.maximizescostsoftheseller.b.maximizestheprofitofbuyers.c.maximizesthetotalwelfareofbuyersandsellers.d.m

7、inimizestheexpenditureofbuyers.ANSWER:c.maximizesthetotalwelfareofbuyersandsellers.TYPE:MDIFFICULTY:28.SupposethatLarry,MoeandCurlyarebiddinginanauctionforamint-conditionvideoofCharlieChaplin’sfirstmo