113 年 國立中正大學財務金融學系碩士班《經濟學》

A downward sloping demand curve means that

(A) All consumers have the same valuation of the same good.
(B) Some consumers have no valuations of this good.
(C) Consumers have different valuations of the same good.
(D) None of the above.

Which of the following will definitely cause an increase in the equilibrium price?

(A) Both demand and supply increase.
(B) An increase in demand and a decrease in supply.
(C) A decrease in demand and an increase in supply.
(D) Both demand and supply decrease.

The maximum price that a consumer is willing to pay for a product is

(A) Higher than the consumer surplus obtained from consuming this product.
(B) Equal to the consumer surplus obtained from consuming this product.
(C) Less than the consumer surplus obtained from consuming this product.
(D) None of the above.

The demand function for $X$ is

$P_x=10-Q_x+0.5P_y+0.8I,$

where $P_x$ is the price of $X$, $Q_x$ is the quantity of $X$, $P_y$ is the price of $Y$, and $I$ is income.

Which of the following statements is true?

(A) $X$ is an inferior good. $X$ and $Y$ are complements.
(B) $X$ is a normal good. $X$ and $Y$ are complements.
(C) $X$ is an inferior good. $X$ and $Y$ are substitutes.
(D) $X$ is a normal good. $X$ and $Y$ are substitutes.

The farmers in remote areas in Chiayi can grow either rice or sweet potatoes in the fields. After the completion of the new highway, which resulted in a decrease in transportation costs, the price of sweet potatoes drops from \10$per pound to$$5$ per pound while the technology in agriculture remains the same.

Other factors being equal, the opportunity cost of growing sweet potatoes is

(A) Lower than before.
(B) Higher than before.
(C) The same as before.
(D) None of the above.

The CEO Ramon L. Laguarta of PepsiCo announced during the earnings conference call in October 2023 that the company would continue raising prices in 2024. The increase in prices has boosted the company's revenue, leading PepsiCo to raise its profit expectations for 2023 for the third time in October.

Following this announcement, the price elasticity of the demand PepsiCo faces is projected to be

(A) Less than $1$.
(B) Larger than $1$.
(C) Equal to $1$.
(D) None of the above.

If the government imposes a price ceiling on a specific product, under which circumstances would the resulting shortage be maximized?

(A) Both supply and demand are inelastic.
(B) Both supply and demand are elastic.
(C) Supply is elastic but demand is inelastic.
(D) Supply is inelastic but demand is elastic.

The government levies a $40\%$ luxury tax on sellers in order to curb speculative investment in this country's housing market.

Given that the price elasticity of demand for housing market is not equal to zero, which of the following statements is true?

(A) The revenues obtained by the sellers will drop $40\%$.
(B) The price of housing market will decrease $40\%$.
(C) Trading volume in housing market will decrease $40\%$.
(D) The consumer surplus will decrease.

The aggregate demand curve estimated by economists in a certain country is given as

$Y=50+0.8G-P,$

where $Y$ represents the real GDP, $G$ is government spending, and $P$ is the price level.

According to IS-LM model, the government spending multiplier will be

(A) Less than $1$.
(B) Equal to $1$.
(C) Larger than $1$.
(D) None of the above.

When do producers bear the most of the tax incidence?

(A) The tax is levied on producers.
(B) The tax is levied on consumers.
(C) The elasticity of supply is relatively elastic.
(D) None of the above.

John's marginal utility function $M$ obtained from his income is given by

$M=I^{0.5},$

where $I$ represents John's income level.

According to this function, John is

(A) Risk averse.
(B) Risk neutral.
(C) Risk loving.
(D) None of the above.

Which one of the following statements is true about average cost curve?

(A) Each point on a long run average cost curve is the minimum point on the short run average cost curve.
(B) A long run average cost curve is decreasing when average fixed cost declines as output increases.
(C) When the average variable cost is decreasing as output increases, the marginal cost is also decreasing as output increases.
(D) None of the above.

Which of the following is usually a characteristic of a monopolist?

(A) Monopolist usually operates on the elastic portion of the demand curve.
(B) The marginal cost curve is the firm's supply curve.
(C) By using marginal cost pricing rule, a natural monopolist can maximize its producer surplus.
(D) Monopolist earns positive profit.

Which of the following statements about the basic Solow model of economic growth is true?

(A) Consumers choose saving and consumption to maximize their utility.
(B) Choosing the golden rule level of saving rate can maximize the economic growth rate.
(C) Steady state growth occurs when the growth rate of capital equals the growth rate of the population.
(D) The countries with initially higher capital stocks experience faster growth compared to those with initially lower capital stocks.

Cosmed and Watsons must decide whether to advertise based on the potential profits shown in the payoff matrix below.

🖼️【此處有附圖，請對照原卷】

According to game theory, how many Nash equilibria in this game?

(A) $0$.
(B) $1$.
(C) $2$.
(D) $3$.

Which of the following index is NOT used to measure the market concentration of an industry?

(A) Lerner Index.
(B) Herfindahl–Hirschman Index.
(C) Concentration ratio.
(D) Hall–Tideman Index.

Suppose that the labor market is perfectly competitive. The labor supply curve is

$L^s=w,$

the labor demand curve is

$L^d=80-w,$

and the aggregate production function is

$Y=L^{0.5},$

where $Y$ is real GDP, $L$ is the employment determined by the labor market, and $w$ is the wage rate.

According to AS-AD model, which of the following statements is true?

(A) The multiplier of government spending is $1$.
(B) The multiplier of government spending is $0$.
(C) The multiplier of government spending is between $0$ and $1$.
(D) None of the above.

According to the Keynesian IS-LM-AS-AD model, which of the following statements is true?

(A) The classical dichotomy does not hold within this framework.
(B) Ricardian equivalence proposition does not hold within this framework.
(C) Monetary neutrality does not hold within this framework.
(D) The paradox of thrift may not hold within this framework.

What of the following statements is NOT true?

(A) Twin deficits refer to the fiscal deficits and current account deficits.
(B) If the country's net exports equal to zero but the government is running a fiscal deficit, then saving is less than investment.
(C) The government can decrease domestic investment to finance a fiscal deficit.
(D) The government can run trade deficits to finance fiscal deficits.

According to Classical theory of economic growth, which of the following factors is most likely to simultaneously cause economic growth and an increase in real wages?

(A) An increase in government spending.
(B) An increase in labor supply.
(C) Technology improvement.
(D) An increase in money supply.

The consumer price index calculates prices of goods and services which are classified into 7 groups.

Suppose that the expenditure weight of the food group is $25\%$ in the calculation of the consumer price index and the base year is 2022. If the average price of the food group increases by $10\%$ while prices for other groups remain unchanged in 2023, what is the consumer price index for 2023?

(A) $100.25$
(B) $102.5$
(C) $107.5$
(D) $110$

Which of the following statements about the Phillips curve is true?

(A) Other factors being equal, changes in the natural rate of unemployment would not influence short-run Phillips curve.
(B) Other factors being equal, changes in the natural rate of unemployment would not influence long-run Phillips curve.
(C) The Phillips curve is a negative relationship between inflation and real interest rate.
(D) An increase in the expected inflation rate would shift short-run Phillips curve upward.

If there is no cyclical unemployment, which of the following statements is true?

(A) The frictional unemployment is equal to the structural unemployment.
(B) The economy attains full employment.
(C) The natural rate of unemployment is zero.
(D) The sum of frictional and structural unemployment is zero.

According to the IS-LM model, ____ is (are) effective to stimulate the economic activities when the economy is in a liquidity trap.

(A) Expansionary fiscal policy
(B) Expansionary monetary policy
(C) Both expansionary fiscal policy and expansionary monetary policy
(D) None of the above.

John won \2$ million in the lottery and deposited these funds in his checking account. What is the impact on the monetary base of John's deposit?

(A) The monetary base increased by \2$million. (B) The monetary base decreased by$$2$ million.
(C) The monetary base did not change.
(D) None of the above.

A firm's production function is given by

$Q=2K^{\frac{1}{2}}+2L^{\frac{1}{2}},$

where $Q$ is the output, $K$ is the capital input, and $L$ is the labor input. Let $r$ denote the rental rate of capital and $w$ denote the wage rate of labor.

The elasticity of factor substitution between capital and labor is equal to (26) and the firm's long run cost function $LTC(w,r,Q)$ is (27)?

The market for tomatoes is a monopoly and the market demand function of tomatoes is given by

$Q=180-2P.$

The total cost $(TC)$ function of the monopolist is

$TC(Q)=Q^2.$

Suppose that the government decides to subsidize the monopolist for each unit of tomatoes the firm produces.

In order to maximize the total surplus, the government should give a $ (28) per unit subsidy to the monopolist of tomatoes.

The closed economy consists of households, firms and the government. The consumption function is

$C=60+0.6(Y-T+R),$

where $Y$ is income, $T$ is tax and $R$ is transfer.

According to the simple income-expenditure model, if the government plans to increase the old-age basic guaranteed pension payment by \3000$, considering all potential responses of the elderly to this welfare measure, other factors being equal, the government assesses that the level of income could be increased by between$ (29) and $ (30).