113年 - [無官方正解]113 國立嘉義大學_轉學生招生考試試題_管理學院：經濟學#143867

1. In Economics, the efficient use of resources means(A) No one can be in a better state.(B) No one will be in a worse state.(C) To make some people better off, others must necessarily become worse off.(D) None of the above.

2. Which of the following statements about opportunity cost is correct?(A) Opportunity cost equals explicit cost.(B) Opportunity cost equals implicit cost.(C) Opportunity cost is not less than implicit cost.(D) Opportunity cost is greater than economic cost.

3. The shape of the production possibility curve is outwardly convex because(A) Opportunity cost increases.(B) Opportunity cost decreases.(C) Investment opportunities increase.(D) Government efficiency decreases.

4. In a market economy, the economic system coordinates people's decisions throughwhich of the following?(A) Market scale (B) Market prices(C) Market monopoly power (D) Market transaction volume

5. Which of the following will cause an increase in the current supply of a good?(A) An increase in the price of production factors(B) Sellers expect its future price to rise(C) Sellers expect its future price to fall(D) Both ( A ) and ( B ) are correct

6. Assuming the law of supply holds. If the price-quantity combination (P=10, Q=8) ison a particular supply curve, which of the following price-quantity combinationsmight be on the same supply curve?rmation (A) (P=12, Q=6) (B) (P=15, Q=4)(C) (P=8, Q=10) (D) None of the above.

7. If the price-quantity combinations (P=5, Q=6) and (P=5, Q=12) are on the samesupply curve, then this segment of the supply curve is(A) Perfectly elastic. (B) Elastic.(C) Inelastic. (D) Perfectly inelastic.

8. Assume the law of supply and the law of demand hold for a particular good. Whenthe price of the production factors for this good increases:(A) Both consumer surplus and producer surplus will increase.(B) Both consumer surplus and producer surplus will decrease.(C) Consumer surplus will increase, and producer surplus will decrease.(D) Consumer surplus will decrease, and producer surplus will increase.

9. Assume the rent ceiling is effective and both the law of demand and the law ofsupply hold true. When the government raises the rent ceiling,(A) The market transaction volume will increase(B) The market transaction volume will decrease(C) Deadweight loss will increase(D) Both ( B ) and ( C ) are correct

10.Whether the tax is mainly borne by the buyer or the seller depends on(A) The amount of the tax (B) The relative elasticity of supply and demand(C) The cost to the firm (D) The quantity of the market equilibrium

11.If the world price of a particular good is higher than the domestic price, thenafter opening up to trade,(A) The domestic producer surplus will be greater than before trade.(B) The domestic producer surplus will be smaller than before trade.(C) The domestic consumer surplus will be smaller than before trade.(D) Both ( A ) and ( C ) are correct.

12.Which of the following will definitely reduce the consumption possibility?(A) Income and the prices of all goods increase(B) Income and the prices of all goods decrease(C) Income increases, and the prices of all goods decrease(D) Income decreases, and the prices of all goods increase

13.The table below shows a consumer’s utility when she consumes X and Y. When theprice of X is Px = $6, the price of Y is Py =$12, and the income is $54, what is the utility-maximizing combination of (X, Y)?

(A) (4,2) (B) (4,3)(C) (3,3) (D) (3,4)

14.Which of the following statements about the shape of an indifference curve iscorrect?(A) The higher the substitutability between two goods, the smaller the curvatureof the indifference curve.(B) The higher the substitutability between two goods, the greater the curvatureof the indifference curve.(C) The indifference curve of perfect complements is a straight line.(D) Both ( A ) and ( C ) are correct.

15.For an inferior good, when its price decreases,(A) The substitution effect causes its consumption to increase.(B) The substitution effect causes its consumption to decrease.(C) The income effect causes its consumption to increase.(D) Both ( B ) and ( C ) are correct.

16.Assuming labor is the only variable production factor. According to the tablebelow, as total output increases, the marginal productivity of labor:

(A) Continuously increases (B) Continuously decreases(C) Increases first, then decreases (D) Decreases first, then increases

17.Assuming that the marginal productivity of labor decreases as the amount of laboremployed increases. In this case, the marginal productivity of labor should be____ the average productivity of labor.(A) Greater than (B) Equal to(C) Smaller than (D) All of above are possible

18.Assuming that at quantity Q, the average total cost is minimized. When the firmmarginally increases production at Q,(A) Marginal cost will decrease (B) Average variable cost will increase.(C) Average total cost will decrease. (D) Average fixed cost will increase.

19.The table below shows a firm’s output and the corresponding long-run cost.

According to the table,(A) Only economies of scale exist.(B) Only diseconomies of scale exist.(C) Economies of scale exist first, then diseconomies of scale.(D) Diseconomies of scale exist first, then economies of scale.

20.For a perfectly competitive firm, other things being equal,(A) Its total cost does not change with output.(B) Its fixed cost does not change with output.(C) Its marginal revenue does not change with output.(D) Both ( B ) and ( C ) are correct.

21.Under which of the following circumstances will a perfectly competitive firmchoose to temporarily shut down:(A) Total revenue is less than total cost.(B) Total revenue is less than total variable cost.(C) Market price is less than average variable cost.(D) Both ( B ) and ( C ) are correct.

22.Assuming labor is the only variable factor of production. For a profit-maximizingperfectly competitive firm, when market demand decreases, its labor employmentwill ____ and the marginal product of the last unit of labor employed will ____.(A) Increase, increase (B) Increase, decrease(C) Decrease, increase (D) Decrease, decrease

23.In the long run, the condition for a firm to exit the market is(A) Price is less than average variable cost.(B) Price is less than average total cost.(C) Economic profit is zero.(D) Both ( B ) and ( C ) are correct.

24.Assuming no externalities. When a perfectly competitive market reachesequilibrium,(A) Marginal social benefit equals marginal social cost.(B) Marginal social benefit is greater than marginal social cost.(C) Marginal social benefit is less than marginal social cost.(D) All of the above are possible.

25.The profit-maximizing output for a perfectly competitive firm is(A) The quantity at the intersection of the rising marginal revenue line and thefalling marginal cost curve.(B) The quantity at the intersection of the horizontal marginal revenue line andthe falling marginal cost curve.(C) The quantity at the intersection of the horizontal marginal revenue line andthe rising marginal cost curve.(D) None of the above.

26.In 2022, Mark Hong purchased a 2020 Honda Civic from his neighbor for his son,purchased a 2019 "one owner" Camry from Larchmont Toyota for his wife, bought a 2022new Ford for himself, and sold his 2016 Dodge Caravan to his teenage nephew. Which,if any, of these transactions will be included in GDP in 2022?(A) all four transactions(B) all three purchases but not the sale(C) the purchase of the Ford and the Caravan(D) only the purchase of the Ford

27.Suppose Firm A buys a new copier for its store for $1000. A year later, when thisfirm wants to upgrade to a new copier, it finds that the old copier is only worth$750. Over the year the copier was used, ________ has occurred.(A) replacement investment (B) gross investment(C) depreciation (D) net investment

28.According to the Department of Statistics in country A, in the second quarter of2019 personal consumption expenditures grew by 1.7 percent, gross private domesticinvestment grew by 3.0 percent, government expenditure on goods and servicesdecreased by -0.9 percent, imports grew by 2.9%, and exports grew by 6.0%. Giventhese data, it is most likely that(A) GDP growth was positive in the 2nd quarter.(B) GDP growth was negative in the 2nd quarter.(C) the economy hit a business cycle peak.(D) the economy hit a business cycle trough.

29.A new 2021 automobile produced in 2021 and purchased in 2022 is(A) part of GDP in 2021.(B) part of GDP in 2022.(C) not part of GDP in either year because it was produced in one year and sold inanother year.(D) part of GDP in both 2021 and 2022.

30.According to the Department of Statistics in country A, in the second quarter of2019 state and local government spending on goods and services changed by -1.4percent. Using the expenditure approach, this change leads to(A) a decrease in government expenditure on goods and services.(B) no change in GDP because only federal government expenditures are included inGDP.(C) a decrease in gross private domestic investment.(D) no change in GDP because state and local government expenditure is alwayscanceled out by federal government expenditure.

31.Suppose the working age population in Big Town is 100 people. If 25 of thesepeople are NOT in the labor force, the ________ equals ________.(A) unemployment rate; 25/100 × 100 (B) unemployment rate; 25/75 × 100(C) labor force; 75 (D) labor force; 25/100 × 100

32.Which of the following people would be considered unemployed by the Bureau ofLabor Statistics?

I. Mrs. Smith retires from her job at the age of 55 and does not look foranother job.

II. Mr. Clark was laid off from his job as a welder, but expects to be rehired in8 months.(A) I only (B) II only(C) both I and II (D) neither I nor II

33.In country A, 23 million people are employed and 2 million are unemployed, but 5million part-time workers would prefer full-time work. What is the unemploymentrate?(A) 23.2 percent (B) 6.7 percent(C) 8 percent (D) 25 percent

34.The following table shows answers given by people interviewed in a governmentsurvey of households. Which individuals are considered to be a part of the laborforce?

(A) Chris and Kathy (B) Bradley, Chris, and Kathy(C) John, Chris, and Kathy (D) John, Bradley, and Chris

35.Suppose country A is experiencing frictional unemployment of 1 percent, structuralunemployment of 3 percent and cyclical unemployment of 4 percent. What is thenatural unemployment rate?(A) 3 percent (B) 4 percent(C) 5 percent (D) 7 percent

36.In 2011, country A had a real GDP of $4.21 billion and a population of 2.98million. In 2012, real GDP was $4.59 billion and population was 2.97 million. Whatwas country A's economic growth rate from 2011 to 2012?(A) 0.38 percent (B) 9.0 percent(C) 3.8 percent (D) 8.3 percent

37.This year country A had a real GDP of $115 billion and the population was 0.9billion. Last year real GDP was 105 billion and the population was 0.85 billion.Country A's growth rate of real GDP per person is(A) 3.23 percent. (B) 5 percent.(C) 5.88 percent. (D) 9.52 percent.

38.Standard & Poor's forecast for country A's GDP growth rate was cut by 1 percentage.point to 5.5 percent as the entire Asia region feels the pressure of ongoingeconomic uncertainty. Country A has averaged 7 percent growth in GDP since 2007.Based on this story, it is most likely that the slowdown reflects a(A) temporary business cycle slowdown.(B) temporary business cycle expansion.(C) change to India's long-term economic growth rate.(D) shrinkage of India's economy.

39.Real GDP per person in country A is $10,000, and the growth rate is 10 percent ayear. Real GDP per person in country B is $20,000 and the growth rate is 5 percenta year. When will real GDP per person be greater in country A than in country B?(A) in 2 years (B) in 15 years(C) never (D) in 10 years

40.Country A is on its aggregate production function at point W in the followingfigure. The government of country A passes a law that makes 4 years of collegemandatory for all citizens. After all citizens have their education, the economy will

(A) move to point such as Y. (B) remain at point W.(C) move to point such as X. (D) move to point such as Z.

41.In August 2017, BBB Bank has $83 million in loans and $114 million in M1 deposits.If BBB Bank is holding $4 million in reserves, the bank's reserve ratio is(A) $31 million. (B) 4.8 percent(C) 3.5 percent. (D) 72.8 percent.

42.The table below shows data (in millions) for BBB Bank in September 2017 andSeptember 2018. Suppose that the desired reserve ratio is 3 percent.

The data show that BBB Bank ________ make more loans in 2017 and ________ makemore loans in 2018.(A) can; can (B) can; cannot(C) cannot; cannot (D) cannot; can

43.Between 2008 and 2009, country A’s real GDP decreased from $13.2 trillion to$12.9 trillion. As a result, the real demand for money ________ and the demand formoney curve ________.(A) decreased; shifted leftward (B) did not change; did not shift(C) increased; shifted leftward (D) decreased; shifted rightward.

44.The table below shows data for country A.

Assuming the velocity of circulation did not change, real GDP(A) grew by 0.3 percent in 2008. (B) grew by -1.2 percent in 2009.(C) grew by 1.1 percent in 2008. (D) grew by 0.9 percent in 2009.

45.In country A, the banking system has just experienced an increase in deposits of$50,000. The currency drain ratio is 20 percent and the desired reserve ratio is10 percent. What does the money multiplier equal?(A) 4.00 (B) 3.33(C) 0.25 (D) 10.00

46.Country A increases its capital stock. As a result, the long-run aggregate supplycurve shifts ________ and so does the ________ curve.(A) rightward; aggregate demand(B) leftward; aggregate demand(C) rightward; short-run aggregate supply(D) leftward; short-run aggregate supply

47.In this figure, the short-run aggregate supply curve is SAS1. Suppose that theprice level in the economy increases. A higher price level leads to(A) an upward movement along SAS1. (B) a downward movement along SAS1.(C) a shift to SAS0. (D) a shift to SAS2.

48.In this figure, the short-run aggregate supply curve is SAS1. If technologyadvances, there is(A) an upward movement along SAS1. (B) a downward movement along SAS1.(C) a shift to SAS0. (D) a shift to SAS2.

49.In this figure, the short-run aggregate supply curve is SAS1. If the money wagerate increases, there is(A) an upward movement along SAS1. (B) a downward movement along SAS1.(C) a shift to SAS0. (D) a shift to SAS2.

50.In the above figure, the short-run aggregate supply curve is SAS1. If the prices ofresources fall, there is(A) an upward movement along SAS1. (B) a downward movement along SAS1.(C) a shift to SAS0. (D) a shift to SAS2