Q1. Which of the following describes a market for goods or services that operates outside the legal system, trading at prices that exceed legally imposed price ceilings? A) An asymmetrical market. B) An incidental market. C) A black market.
Q2. Under a price ceiling, bribery is a mechanism to:
A) bring the total price of a good (including the bribe) higher and closer to the equilibrium price. B) bring the total price of a good (including the bribe) lower and closer to the equilibrium price. C) allocate a good to the richest individuals in the market.
Q3. Compared to normal markets, the existence of fraud and the use of violence in black markets generally leads to: A) poorer economic efficiency. B) lower profit rates for sellers. C) superior economic efficiency.
Q4. 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, respectively? A) Shortage; increased unemployment. B) Shortage; decreased unemployment. C) Surplus; increased unemployment.
Q5. 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 improve quality. B) Consumers have to wait to make purchases. C) Sellers take bribes. | 
发表于 2008-12-31 10:14
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