Question 36 

Which of the following statements about a tax imposed on buyers or suppliers is most accurate? 

A) If demand is less elastic than supply, consumers will bear a lower proportion of the tax than suppliers.

B) If supply is less elastic than demand, suppliers will bear a lower proportion of the tax than consumers.

C) The proportion of the tax is borne equally by consumers and suppliers, regardless of supply and demand elasticity.

D) If demand is less elastic than supply, consumers will bear a higher proportion of the tax than suppliers.

Question 37 

Primary factors influencing the price elasticity of demand for a product are least likely to include: 

A) the amount of time that has passed since the price change.

B) availability and closeness of substitute goods.

C) changes in consumer price expectations.

D) the relative amount of consumer budgets spent on the product.

Question 38 

With regard to the money supply and demand curves, the effects of a decrease in real GDP will most likely be: 

A) a shift in the supply curve to the left forcing the equilibrium interest rate to fall.

B) a shift in the demand curve to the left forcing the equilibrium interest rate to fall. 

C) a shift in both the supply and demand curves to the left so that there is no change to the equilibrium interest rate.

D) no shift in either the demand or supply curve, but the equilibrium interest rate will move lower.

Question 39 

When a firm operates under conditions of perfect competition, marginal revenue always equals: 

A) average variable cost.

B) one divided by elasticity of the market demand curve.

C) total cost.

D) price.

Question 40 

Will an increase in interest rates or an increase in the demand for physical capital increase the quantity of financial capital demanded?

 Interest rates      Demand for physical capital

A)         Yes              Yes

B)         No               Yes

C)         Yes              No

D)         No               No

答案和详解如下：

Answer 36 

The correct answer was D) If demand is less elastic than supply, consumers will bear a higher proportion of the tax than suppliers. 

If demand is less elastic than supply, consumers will bear a higher proportion of the tax than suppliers. If supply is less elastic than demand, suppliers will bear a higher proportion of the tax than consumers. 

This question tested from Session 4, Reading 15, LOS c

Answer 37 

The correct answer was C) changes in consumer price expectations. 

Changes in consumer price expectations shift the aggregate demand curve to the right or left, but do not necessarily affect the price elasticity of demand for a product. The three primary factors influencing the price elasticity of demand for a product are the availability and closeness of substitute goods, the proportion of income spent on the product, and time since the price change. 

This question tested from Session 4, Reading 13, LOS a, (Part 3)

Answer 38 

The correct answer was B) a shift in the demand curve to the left forcing the equilibrium interest rate to fall. 

During a recession, the demand for funds typically declines. Graphically, this implies a shift of the money demand curve to the left. This will cause the equilibrium interest rate to fall. 

This question tested from Session 6, Reading 25, LOS a, (Part 2)

Answer 39 

The correct answer was D) price. 

When a firm operates under conditions of perfect competition, marginal revenue always equals price. This is because, in perfect competition, price is constant (a horizontal line) so that marginal revenue is constant. 

This question tested from Session 5, Reading 18, LOS b

Answer 40 

The correct answer was B) No  Yes

When the demand for physical capital increases, the quantity of financial capital needed to pay for it also increases. Demand for financial capital is a downward sloping function of interest rates. An increase in interest rates would decrease the quantity demanded of financial capital. 

This question tested from Session 5, Reading 21, LOS f

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