答案和详解如下： 1.New legislation setting a price ceiling will most likely cause: A) a market surplus. B) a market shortage. C) a decrease in demand. D) an increase in production. The correct answer was B) Price ceilings restrict the producer from increasing the selling price. The lower price will stimulate demand by consumers at this lower price. However, since producers will not be able to increase price there is little incentive for them to increase supply. Hence, production and supply will be limited at the price ceiling leading to a market shortage. 2.If a price ceiling is above the equilibrium price in a given market, its effect will most likely be: A) nothing. B) a surplus. C) a shortage. D) an increase in price. The correct answer was A) A ceiling is only effective if it is below the equilibrium price. If it is above the equilibrium price, then it should have no effect. If the ceiling is below the equilibrium price, it will produce a shortage. In such a case, suppliers do not produce as much as consumers wish to buy at the ceiling price. 3.The effect of a price ceiling set above the equilibrium price is most accurately described by which of the following statements? A) It will have no effect on equilibrium price and quantity. B) It will affect equilibrium price, but not equilibrium quantity. C) Quantity demanded will exceed quantity supplied. D) Quantity supplied will exceed quantity demanded. The correct answer was A) If a price ceiling is above the equilibrium price, it will have no effect on price or quantity. 4.Which of the following is least likely to be the long-run effect of a price ceiling that is set below the equilibrium price? A) Sellers take bribes. B) Suppliers discriminate. C) Consumers have to wait to make purchases. D) Sellers improve quality. The correct answer was D) Under price ceilings, sellers may reduce the quality of goods to a level that reflects the imposed ceiling price. 5.Which of the following most accurately describes the impact of a price ceiling set below the equilibrium price for a good and a minimum wage set above the equilibrium wage?
| Price ceiling | Minimum wage |
A) Shortage Decreased unemployment B) Surplus Increased unemployment C) Shortage Increased unemployment D) Surplus Decreased unemployment The correct answer was C) A ceiling that is below the equilibrium price for a good will result in a shortage characterized by a quantity demanded that is greater than the quantity supplied. A minimum wage leads to increased unemployment as firms tend to substitute capital for labor. Even though there are often a large number of unemployed low-skilled workers who may be willing to work at a wage lower than the minimum wage, firms cannot legally hire them. | 
发表于 2008-4-9 10:52
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