世新大學九十一學年度轉學考試試題

年級	系所別	考試科目
二	財務金融學系	經濟學

※ 考生請於答案卷內作答

一、單選題，每題4分

1.Which one of the following answer is wrong? (A) If one makes the fallacy of composition, it is likely that the individual is assuming what is true for the group is also true for the individual. (B) Positive statements are based on facts and normative statements are based on opinion. (C) The price elasticity of demand for a product will be more inelastic if spending on this product is in a smaller proportion of the household’s budget. (D) When demand is price inelastic, total revenue is directly related to price and inversely related to quantity demanded. (D) None of the above.

2.Which one of the following answer is right? (A) The PPF is bowed in to reflect that additional units of one product must sacrifice more and more units of another product. (B) An increase in the production costs of one product will shift its own supply curve to the right. (C) When income increases, the demand pf an inferior good will shift increase. (D) When the price of a giffen good increases, its quantities demanded will increase. (E) None of the above.

3.Which one of the following answer is wrong? (A) A perfectly elastic supply curve is a horizontal straight line. (B) When X and Y products are perfect substitutes, their indifference curve is a straight line. (C) The income elasticity of demand of necessities goods is between 0 to 1. (D) There is a positive relationship between the price elasticity of supply and the length of adjustment period. (E) The golden rule of profit maximization states that when firms produce where marginal revenue equals marginal cost, their profits are maximized and positive.

4.Which one of the following answer is right? (A) The average total cost curve and the average variable cost curve move father apart as output increases. (B) In a constant-cost industry, when facing an increasing demand, each firm produces more output at same price, and same numbers of firms participate in this industry in the long run. (C) Indifference curves slope downward because marginal utility decrease as more of a good consumed. (D) The minimum efficient scale for a firm is the lowest rate of output at which long-run average variable cost is at a minimum. (E) None of the above.

5.Which one of the following answer is right? (A) The demand curve faced by a monopolistically competitive firm is less elastic than the demand curves faced by monopolists, but is more elastic than the demand curves faced by perfect-competitive firms. (B) In Cartel, if average costs differ across firms, the quantity allocation that maximizes Cartel profits will yield unequal profits across Cartel members. (C) Firms in monopolistic competition market may earn zero economic profit both in the short and long run. (D) A profit-maximizing firm in monopolistic competition market should shut down in the short run if prices are less than average fixed costs. (E) None of the above.

6.Which one of the following answer is wrong? (A) Expansionary fiscal policy, including an increase of government expenditure and a decrease of tax, would increase the equilibrium GDP, but may result in budget deficits. (B) Supply-side economists expect that tax revenues will increase due to a lower tax rate but a higher taxable income. (C) When domestic interest rate is higher than foreign interest rate, other things holding constant, domestic exchange rate is likely to appreciated. (D) Backward-bending labor supply curve occurs if the income effect of a higher wage is dominated by the substitution effect of a higher wage. (E) None of the above.

7.Which one of the following answer is right? (A) The discount rate in U.S. is the interest rate charged to commercial banks for loans from other commercial banks. (B) MIA includes coins and paper money kept by banks and non-bank public. (C) Reserves only include the deposits in central bank, and excess reserves include the money currency physically held by banks. (D) Travel check is less liquid than demand deposit. (E) None of the above.

8.Which one of the following answer is wrong? (A) NNP equals that GNP minus depreciation. (B) Firms’ total ending inventories should be included in calculating GDP. (C) Unexpected inflation will benefit the person who pays fixed amounts of loan. (D) The higher the current interest rate is, the lower the new investment amount is; the higher the expected rate pf return is, the higher the new investment amount is. (E) None of the above.

9.Which one of the following answer is right? (A) When the price of a stock increases, its quantity demanded increases, which is the example of violation of the law of demand. (B) The choice of which goods to produce and how to distribute these goods is the concept of productive efficiency. (C) Trade deficit means that foreigners could obtain money to buy our firms, financial and physical assets. (D) The lower the Gini coefficient is, the worst the equal income distribution is. (E) None of the above.

二、計算問答題(無計算、說明或推理過程一律零分計算)

1.(15分)

請完整解釋下列名詞之源由與經濟意義:

(A) Kinked Demand Curve (B) Liquidity Trap (C) Potential Output

2.(10分)

請以經濟理論說明金融控股公司相繼成立之原因與成立後對市場各參予者之正負面衝擊。煩請分項條列說明。

3.(17分)

因OPEC決定減產石油，造成A國石油價格飆漲，而A國中央銀行採降息以因應之，請用文字與圖形詳細推理與說明 :

(A) A國央行為何如此因應及因應之原因與目的。(6分)

(B) A國央行可運用何種工具以達成此目的 ? 又此等工具應分別如何使用之 ? 使用頻率與效果應為何 ? (6分)

4.(22分)

If the demand curve is: Q_d =15－3P，the supply curve is: Q_s =5 + 2P :

(A) What is he point elasticity of supply when price drops from $2 to $1? What is the arc elasticity of demand when price is $2? At this time, should the producer increase or decrease price for higher revenues? Why? (6分)

(B) When government imposes a one-dollar indirect tax, what is the new equilibrium price? How much money do producers and consumers need to pay individually? (6分)

(D) What is the relationship of consumer surplus, marginal utility and price? How are they used to explain “the paradox of water and diamonds”? What is their relationship with exchange and division of labor? Please explain completely and carefully. (6分)