(Test Bank)Economics Today The Macro View, 19th Edition by Roger LeRoy Miller chapter 5

(Test Bank)Economics Today The Macro View, 19th Edition by Roger LeRoy Miller chapter 5

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时间:2019-09-21

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1、EconomicsToday:TheMacroView,19e(Miller)Chapter5PublicSpendingandPublicChoice5.1MarketFailuresandExternalities1)Whichofthefollowingtermsdescribesthesituationinwhichallresourcesareabletomovetotohighest-valuedusesviavoluntaryexchange?A)governmentinterve

2、ntionB)amarketfailureC)economicefficiencyD)anexternalityAnswer:CDiff:1Topic:5.1MarketFailuresandExternalitiesLearningOutcome:Micro-22:ExplainhowexternalitiesaffectmarketefficiencyAACSB:Analyticalthinking2)MarketfailureoccurswhenA)agoodistooexpensivef

3、orthemarkettoprovide.B)anunrestrainedmarketeconomyleadstotoofewortoomanyresourcesgoingtoaspecificeconomicactivity.C)onegoodissuperiortoanotheranddrivesitoutofthemarket.D)thestockmarketexperiencesaverylargeloss.Answer:BDiff:1Topic:5.1MarketFailuresand

4、ExternalitiesLearningOutcome:Micro-22:ExplainhowexternalitiesaffectmarketefficiencyAACSB:Analyticalthinking3)ConsumersaresovereignwhenA)pricesaredecidedbysellers.B)afewconsumersexercisecoerciononsellersandotherconsumers.C)theycanpreventmarketfailure.

5、D)theyhavethefreedomtodecidewhattheywishtopurchase.Answer:DDiff:1Topic:5.1MarketFailuresandExternalitiesLearningOutcome:Micro-22:ExplainhowexternalitiesaffectmarketefficiencyAACSB:Analyticalthinking107Copyright©2018PearsonEducation,Inc.4)Marketfailur

6、esA)preventthepricesystemfromattainingeconomicefficiency.B)resultinquantitiesandpricesthataresociallydesirable.C)strengtheneconomicefficiencybyforcingunprofitablefirmstoclose.D)weakentheargumentforgovernmentinterventionintheeconomy.Answer:ADiff:1Topi

7、c:5.1MarketFailuresandExternalitiesLearningOutcome:Micro-22:ExplainhowexternalitiesaffectmarketefficiencyAACSB:Analyticalthinking5)AmarketfailurelikelyoccurswhenA)theconsumptionofagoodgeneratesaneffectonthirdparties.B)firmproductionlacksanexternality

8、onthirdparties.C)consumersaresovereignbutfirmsarenotsovereign.D)thereisnomuchcompetitioninamarket.Answer:ADiff:1Topic:5.1MarketFailuresandExternalitiesLearningOutcome:Micro-22:ExplainhowexternalitiesaffectmarketefficiencyAACSB:Analyticalthinking6)Whi

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