110年 - 110 國立中山大學_碩士暨碩士專班招生考試_財管系/乙組:經濟學#105544

選擇題 (26)

1.Which of the following is NOT a prediction of marginal utility theory? (A) Other things being equal, the higher the price of a good, the lower is the quantity demanded. (B) Other things being equal, the higher the price of a good, the higher is the consumption of substitutes for that good. (C) The "equilibrium" in the real world means that households have spent their incomes in such a way that their overall satisfaction is maximized. (D)If two households have identical preferences but different incomes, the wealthier one will have lower satisfaction for most goods. (E) The rational spending rule.

2.A 1 percent increase in the price of good X results in a 2 percent increase in the quantity demanded of good Y. A 1 percent increase in the price of good Y will result in an increase in the quantity demanded of good Y that is: (A) 0.5 percent (B) 2 percent (C) Less than 0.5 percent (D) I percent (E) Indeterminate from the information given

3. If a sales tax is imposed on a good produced by an industry which exhibits increasing costs and demand is not perfectly inelastic, then: (A) The price (including the tax) received by the producer decreases. (B) The price to the consumer rises by more than the tax. (C) The price to the consumer rises by the tax. (D) The price to the consumer rises by less than the tax. (E) The price received by the producer remains unchanged.

4.Suppose that an individual receives utility from the consumption of X, Y, Z. We have learned that U(X, Y, Z) = 5 log(X) + 3log(Y) + 2 log(2). If the individual has $100 to spend on these items and the prices of the items are 10, 2, and 4 for X, Y, and Z, respectively. The individual will consume: (A) X=5, Y=5,Z=10 (B) X=6, Y=10,Z=5 (C) X=4, Y=10.Z=10 (D) X=4, Y=20,Z=5 (E) None of the above

5.Consider an individual who lives for two periods, working in the last period of life (n2) and consuming in the first (c₁). The individual can consume in period one by borrowing at the market rate R. The production function and utility function of the individual are given as y₂ = kn2 and U(c₁, n₂) = log(c₁) - n₂. What is the optimal value of n₂? (A) 1 (B) (1+R)/k (C) 0 (D) 1/k (E) k/(l+R)

6. If a firm is able to increase output without increasing costs, it must: (A) Be able to reallocate its output without changing their marginal product per dollar of any output. (B) Have experienced an increase in the price of at least one of its inputs. (C) Not be minimizing its costs. (D) Be operating in an optimal manner (E) Have been using too much of the input with the highest marginal product per dollar and too little of the one with the lowest marginal product per dollar.

7.The cost function of Animal Across Co. is c(w₁, W₂, y). w1 and w2 are the wage of factor 1 (X₁) and factor 2 (X₂), respectively； y is output level. If Animal Across Co.'s production function is y(X₁, X₂) = Max(4X₁, 5X₂), what is the exact cost function of this company? (A) y*(w₁/4+w₂/5) (B) y*Min(w₁/4, w₂/5) (C) y*(w₁/5 +w₂/4) (D) w₁/4 +w₂/5 (E) y*Max(w₁/4, w₂/5)

8. The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.

Average variable cost is minimized when output is approximately: (A) 6 units (B) 16 units (C) 22 units (D) 24 units (E) Indeterminate from the information given

9. Assume TO YOTA is able to practice the third degree price discrimination between the U.S. and the Japan markets. The demand function in the U.S. market is Q_A=600-3P_A and the demand function in the Japan market is Q_J=1200 - 6P_J. To maximize its profits, TOYOTA should: (A) Charge a higher price in the Japan market (B) Charge the sample price in both markets (C) Sell any more in the U.S. market (D) Sell any more in the Japan market (E) Charge a higher price in the U.S. market

10. A game has two players. Each player has two possible strategies. One is "cooperate" ( C ), the other is "betray" ( B ). Each player writes on a piece of paper either a C or ( B ) If both players write C, they both get a payoff of $1000. If both write B, they both get a payoff of zero. If one player writes C and the other writes B, the cooperating player gets a payoff of X and the betraying player gets a payoff of Y. To betray will be a dominant strategy for both player if (A) Y＞ 1000＞X (B)Y＞X (C) Y＞Oand X<0 (D) Y = 1000 and X <0 (E) Y> 1000 and X <0

11. An industry has two firms, each of which produces output at a constant unit cost of $10 per unit. The demand function for the industry is Q=1000000/P. The Cournot equilibrium price for this industry is: (A) 15 (B) 3 (C) 150 (D) 20 (E) 40

12. Which of the following statements is NOT true? (A) In a monopolistic labor market, marginal factor cost is equal to the equilibrium wage rate. (B) In monopolistic labor markets, an individual firm faces a positively sloped labor-supply curve. (C) The intersection of market labor supply with market labor demand establishes equilibrium in a perfectly competitive labor market (D) Assuming a perfectly competitive labor market, a firm selling in a monopolistic product market will have a lower marginal revenue of product curve than a firm in a perfectly competitive product market. (E) In a perfectly competitive labor market, an individual firm can hire as many workers as it needs at the equilibrium wage rate.

13. Suppose there are ten people playing cards in a room. One of them wants to smoke a cigar, nine of them dislike the smell of cigar smoke. The smoker values the privilege of smoking at $6, and each of the other nine people of the room would be willing to pay 60 cents for clean air in the room. The rules governing use of the room state that smoking is not allowed unless everyone agrees to allow smoking. If the rules governing the room instead stated that smoking is allowed unless everyone in the room agrees to prohibit it, then: (A) The cigar smoker will smoke, and will pay each other occupant 60 cents (B) The non-smoking occupants will pay the cigar smoker to not smoke. (C) The parties may or may not be able to reach a negotiated agreement depending on the bargaining strength of each. (D) The cigar smoker will smoke and not have to pay the other occupants for the external cost. (E) The Coase theorem can not solve the problem in this case.

14.Suppose Joe has a reliable two-year-old Honda Civic that's in excellent condition and that he would be willing to sell for $13,000. Lauren, who is risk-neutral, is considering whether to buy Joe's car. She's willing to pay $14,000 for a two-year-old Honda Civic that is reliable and only S10,000 for one that's not reliable. Lauren cannot tell whether Joe's car is reliable, but she believes that only 20 percent of two-year-old Hondas for sale in the market are reliable and that the other 80 percent are not reliable. To Lauren, Joe's car looks just like every other two-year-old Honda that's for sale. Which of the following statements is NOT true? (A) Lauren will not buy Joe's Car (B) In the long run, the sales price of two-year old Hondas in the market will rise. (C) In the long run, the quality of two-year old Honda Civics offered for sale will fall. (D) One of"costly-to-fake" examples in this case for Joe is to offer a warranty to pay for major repairs after selling the car. (E) None of the above.

15. Suppose a study finds that the income elasticity of demand for a public good is greater than 1. What income tax system should the government consider as a better solution to finance this public good? (A) Collective (B) Regressive (C) Progressive (D) Proportional (E) Negative income tax (NIT)

複選題
16. Traditional economic models cannot explain why: (A) People buy more of certain goods when their income falls. (B) People donate money to charity. (C) People leave tips at restaurants for dining. (D) Some people buy expensive cars and others buy cheap cars. (E) Risk-averse people are unwilling to sell stocks when the price falls.

17. In 2020, which of the following country's economic growth is expected to be the best among the four? (A) Vietnam (B) India (C) Philippines (D) Thailand

18. A typical IS-LM model composes AD, and AS is the aggregate supply curve of the classical school. Analyzing the U.S. economy in the face of Covid-19 in 2020 with the model, which of the following is a correct statement? (A) The lockdown shifts the AD leftward (B) The lockdown moves along the AD upward (C) The increased unemployment moves the AS leftward (D) The hospitalization of workers does not shift the AS.

19. In the expenditure approach to the national income accounting, the expenditure is put in 5 categories, C, I, G, X, M. About the spending on education, the personnel, office supplies, equipment, and buildings are supported by the government and tuition paid by students. Choose a correct answer. (A) the spending by both the government and households belongs to I (B) the spending by the government does not count in the national income accounting and the spending by households belongs to I (C) the spending by the government belongs to G and the spending by the household does not count in the national income accounting (D) the spending by the government belongs to G and the spending by the household belongs to C

複選題
20. What is among the reasons for an increase in Taiwan's foreign exchange reserves? (A) Interest receipts from the foreign exchange reserve invested overseas (B) Taiwan's central bank sells U.S. dollar (C) more imports (D) more exports

21. If a country has very high unemployment rate and the government requires firms cut the hours worked per employee and hire more employees. With the hourly compensation for work remaining the same, what is the effect of the policy? (A) consumption increases (B) consumption remains the same (C) consumption falls

22. When the media talks about the U.S. Federal Reserve changing interest rates, the interest rate talked about is (A) the interest rate charged on banks borrowing from the Federal Reserve (B) the interest rate of interbank loans with very short duration (C) the 10-year government bond interest rate (D) banks' one-year deposit rate

23. A country is at full-employment. Given the expenditure approach to the national income accounting, the expenditure is put in 5 categories, C, I, G, X, M. If it intends to reduce its trade balance, which of the following is not an appropriate policy? (A) encouraging investment expenditure (B) reducing taxes (C) encouraging savings (D) increasing government spending

24. According to a typical IS-LM model, a country's income will (A) increase if there is a cut in government spending and an equal rise in autonomous consumption (B) decrease if there is a cut in government spending and an equal rise in autonomous consumption (C) increase if there is a cut in government spending and an equal cut in lump-sum taxes (D) decrease if there is a cut in government spending and an equal cut in lump-sum taxes

25. Which of the following is inconsistent with New Classical School of economics? (A) If the government announces its intended tight monetary policy, reducing inflation needs not be at the cost of increased unemployment (B) If expected inflation is not equal to the realized one, the labor market is not at full employment (C) If there are negative shocks to aggregate demand, there is no need for government economic policy to intervene (D) Surprises in monetary policies does not affect the real output

26. Personal income does not include (A) capital gains from stock investments (B) interests from bond investments (C) transfer payments from the government (D) rent received (E) retirement pension received

申論題 (9)

二、填空題:總體經濟部分,共五題,每題4分,答案長度請勿超過試題所顯示空格長度

1.The balanced budget multiplier is smaller in a typical IS-LM model than in a simple Keynesian model. Why?____________________

2. The production function is y = N - N²/4, the nominal wage is fixed at W by contract, and there are many unemployed. Let price level be denoted by P. Show the aggregate supply function._______________

3.In a typical IS-LM-BP model, the BP curve of a small country with perfect capital mobility is usually shown as a horizontal line intersecting the vertical axis at the foreign interest rate. What is the assumption made about the exchange rate?_________________

4. Y= Ca+σ(Y-T) +I +G + X - M, X = θY*, M= βY, where Ca is the autonom spending, X export, M import, Y* foreign income, and all the Greeks indicate coefficients. Derive△ (X-M)/△Y* =___________________

5.In the year 2020, Taiwan's export growth was relatively good, and possible reasons include A) export of masks and medical supplies B) export of electronic products due to the need for remote work C) good control of Covid-19 and production is not interrupted D) some of China's export markets are lost to Taiwan due to the U.S. trade war against China. Choose one you think is the least important reason and explain why it is the least important
____________________________________________

三,填空题:個體經濟部分,共四題,每題2.5分
1.There are two local labor markets in a society. Either market has no union. In equilibrium, hourly wage for both markets is $9 and the employment for market 1 and market 2 are 125 and 75, respectively. If workers in market 1 unionize instead, the wage in market 1 becomes $12 by negotiation and 25 workers go out of work (the employment becomes 100). In market 2, labor increases by 25 workers from market 1 (the employment becomes 100) and the wage decreases to $6. Given the information above, the net welfare loss to society will be__________.

2.Suppose that the demand for street parking spaces in Kaohsiung is Q= 140-p. Kaohsiung municipal government prices each street parking space at $20 (p=20) and the supply Q=50. If every demander has the same probability of finding a street parking space, the consumer surplus that all parking spaces can provide is___________.

3.A village has six residents, each of whom has acc cumulated savings of $100. Each villager can use this money either to buy a government bond that pays 15 percent interest per year or to buy a year-old goat, send it onto the common field to graze, and sell it after 1 year. The price the villager gets for the 2-year-old goat depends on the quality of the fleece it grows while grazing on the commons. That in turn depends on the animal's access to grazing, which depends on the number of goats sent to the common filed, as shown in the following table:

The villagers make their investment decisions one after another, and their decisions are public. The village committee votes to auction the right to graze goats on the common field to the highest bidder. Assuming villagers can both borrow and lend at 15 percent annual interest, the right sells for at auction will be

4.Jamie's marginal utility from muffins and from doughnuts is shown in the accompanying table. Jamie has $18 in the pocket to allow her to consume muffins and/or doughnuts. The price of each mufin is $3 and the price of each doughnut is $2.

Within the budget, how much does Jamie need to spend on doughnut to optimize her consumption expenditure?___________

110年 - 110 國立中山大學_碩士暨碩士專班招生考試_財管系/乙組:經濟學#105544

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選擇題 (26)

申論題 (9)