【题1】 Two-dimensional demand and supply curves are drawn under which of the following assumptions?
A. Own price is held constant
B. All variables but quantity are held constant
C. All variables but own price and quantity are held constant
【题2】 The monthly demand curve for playing tennis at a particular club is given by the following equation:
PTennis Match = 9 – 0.20 × QTennis Match
The club currently charges members $4 to play a match, but is considering a new flat rate monthly membership fee for unlimited play. The most fee that the club will able to charge for this membership is closest to:
【题3】 Over a given period, the price of a commodity falls by 5.0% and the quantity demanded rises by 7.5%. The price elasticity of demand for the commodity is best described as:
C. Perfectly elastic
【题4】 Which of the following government interventions in market forces is most likely to cause underproduction?
B. Price floors
C. Production quotas
【题5】 If a consumer’s marginal rate of substitution of good X for good Y (MRSxy) is equal to 2, then the:
A. Consumer is willing to give up 2 units of X for 1 unit of Y
B. Slope of a line tangent to the indifference curve at that point is 2
C. Slope of a line tangent to the indifference curve at that point is -2
【题6】 Suppose a woman marries her butler. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee). How does the marriage affect GDP? How should it affect GDP?
A. increase GDP
B. decrease GDP
C. Stay constant
【题7】Suppose the CPI basket contains only two goods and services: oranges and haircuts. In the base period, consumers bought 15 oranges at $2 each and 5 haircuts at $10 each. In the current period, consumers buy 15 oranges at $1.75 each and 5 haircuts at $12 each. The CPI for the current period is closest to:
【题8】 Assume the U.S. Federal Reserve system (the Fed) has decided to lower interest rates in the economy. To carry out this policy, the Fed will most likely:
A. Sell securities
B. Buy securities
C. Increase required reserve ratios
【题9】 Generational accounting indicates the United States, as well as other developed nations, faces severe generational imbalances regarding government programs such as Social Security. Which of the following is most likely a possible outcome?
A. Reduction in income taxes
B. Increase in government discretionary spending
C. Creation of new money to pay government obligations
【题10】 Given the following information:
The U.S. interest rate is 6%.
The spot rate is 2.2 GBP/USD.
The GBP forward rate is 2 GBP/USD
The domestic Great Britain interest rate is 8%.
Which of the following statements is FALSE?
A. Capital will flow into Great Britain
B. If you start by borrowing $1,000, your arbitrage profits will be $128
C. If you start by borrowing 1,000 GBP, your arbitrage profits will be 116 GBP