罗森 财政学 第七版(英文版) 配套习题及答案Chap002

CHAPTER 2 - Tools of Positive Analysis

Multiple-Choice Questions

1. Positive economics

a) does not depend on market interactions.

b) only looks at the best parts of the economy.

c) examines how the economy actually works (as opposed to how it should work).

d) is very subjective.

2. The Law of Demand states

a) that there is an inverse relationship between price and quantity demanded.

b) that the judicial branch of government sets demand schedules.

c) that laws can have no effect on market economies.

d) none of the above.

3. The function Y = f(X,Z) means

a) X multiplied by Y equals f.

b) X + Y = Z.

c) Y is a function of both X and Z.

d) none of the above.

4. If there is a function and one component is Y3, then there is a ____ in the function.

a) square root

b) cubic

c) cosine

d) circle

e) all of the above

5. Refer to Question 4 above. The equation containing Y3 would be

a) linear.

b) quadratic.

c) a Nash equilibrium.

d) inefficient.

e) nonlinear.

6. Marginal and average taxes are

a) calculated using the same methodology.

b) not used in modern tax analysis.

c) not calculated using the same methodology.

d) all of the above.

7. The slope of a regression line is calculated by dividing

a) the intercept by the change in horizontal distance.

b) the change in horizontal distance by the change in vertical distance.

c) the change in horizontal distance by the intercept term.

d) the change in vertical distance by the change in horizontal distance.

e) none of the above.

8. Unobserved influences on a regression are captured in the

a) error term.

b) parameters.

c) regression line.

d) significance term.

e) regression coefficient.

9. The following can be analyzed using econometrics:

a) labor supply.

b) market demand.

c) tax-setting behavior.

d) poverty.

e) all of the above.

10. Normative economics

a) does not depend on market interactions.

b) only looks at the best parts of the economy.

c) examines how the economy actually works (as opposed to how it should work).

d) embodies value judgments.

11. The Latin phrase ceteris paribus means

a) let the buyer beware.

b) other things being the same.

c) swim at your own risk.

d) whatever will be will be.

12. The substitution effect

a) is when individuals consume more of one good and less of another.

b) is associated with changes in relative prices.

c) will have no effect if goods are unrelated.

d) is all of the above.

13. Self-selection bias affects empirical estimation by

a) leading to samples that are not representative of the entire population.

b) making estimators improved.

c) increasing the accuracy of test results.

d) doing none of the above.

14. When different bundles of commodities give the same level of satisfaction, you are

a) said to be indifferent between the bundles.

b) said to be confused.

c) not able to make a decision.

d) unhappy with any combination.

e) none of the above.

15. The marginal rate of substitution is

a) the slope of the utility curve.

b) the slope of the contract curve.

c) the slope of the utility possibilities curve.

d) none of the above.

Discussion Questions

1. Suppose that a competitive firm’s marginal cost of producing output q is given by

MC=2+2q. Assume that the market price of the firm’s product is $13.

a) What level of output will the firm produce?

b) What is the firm’s producer surplus?

2. Use the following function for elasticity: = -(1/s)(P/X), where s is the slope of the

demand curve, P is the price, and X is the quantity demanded, to find elasticity when demand is X d= 22-(1/4)P when the price of good X is 20.

3. Imagine that the demand for concert tickets can be characterized by the equation X d = 7 –

P/5. The supply of tickets can be written as X d = -2 + P/5. Find the equilibrium price and quantity of concert tickets.

True/False/Uncertain Questions

1. Empirical analysis generally deals with theory and little data.

2. Economists attempt, with moderate success, to perform controlled experiments making

policy analysis helpful.

3. Regression coefficients are indicators of the impact of independent variables on

dependent variables.

4. Primary data sources include information gathered from interviews and experiments.

5. Multiple regression analysis typically requires several computers.

6. Econometrics is the statistical analysis of economic data.

7. Theory is always necessary for empirical research.

8. The demand for a good is not affected by the demand for a related good.

9. Equilibrium in the market is where supply is equal to demand.

10. A model is a simplified description of some aspect of the economy.

Essay Questions

1. “Since the social sciences are not like the natural sciences, experiments are a waste of

time.” Comment on the above statement.

2. Discuss the concept in econometrics that states, “garbage in . . . garbage out.”

3. It is possible that two different economists can examine the same situation, such as

school funding, and reach entirely different conclusions. Why is this so?