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& K/ }) _5 `# x x% KCFA Level I:Economics - DEMAND AND SUPPLY ANALYSIS INTRODUCTION 精选题和学习要点8 ~. B0 O& z# z3 \8 i! M3 X9 y
Demand and Supply Analysis: Introduction(Reading 13)
4 t) t4 d9 a6 a/ P, i w% WLearning Outcome Statements (LOS)
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8 R4 b% j' I' ?, L& s) Sa. Distinguish among types of markets; ! h* {/ |1 W8 G A( ~# W* p
b. Explain the principals of demand and supply;
% K& j) }- t7 F; \c. Describe causes of shifts in and movements along demand and supply curves; 9 ]7 O" G. r. X5 o# s* u6 R$ B* I
d. Describe the process of aggregating demand and supply curves, the concept of equilibrium, and mechanisms by which markets achieve equilibrium;
5 |3 G! v) t) I qe. Distinguish between stable and unstable equilibria and identify instances of such equilibria; . 7 O* X9 q: _/ }' v; A% C p
f. Calculate and interpret individual and aggregate demand, inverse demand and supply functions and interpret individual and aggregate demand and supply curves; ! R7 o3 i2 t) `8 w. ^, M1 j
g. Calculate and interpret the amount of excess demand or excess supply associated with a non-equilibrium price; 7 k6 X6 u. c8 W2 G# q$ h
h. Describe the types of auctions and calculate the winning price(s) of an auction;
. I8 P$ l. t F W9 Bi. Calculate and interpret consumer surplus, producer surplus, and total surplus; 9 H) m4 x4 @! P7 _% @/ k% _* ?
j. Analyze the effects of government regulation and intervention on demand and supply;
, P9 j, o& x7 o+ qk. Forecast the effect of the introduction and the removal of a market interference on price and quantity;
* j9 R* q/ b$ Q& Z- d/ R3 S2 Al .Calculate and interpret price, income, and cross-price elasticities of demand and describe factors that affect each measure;5 V& Z8 W2 J8 r5 c1 q) A
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1. Consumer surplus is best describe as: 5 Y/ c2 k+ L0 l( ]0 f- I) e
A. Always less than or equal to zero + ~; `/ N6 L/ g
B. Always greater than or equal to zero / b0 L0 T7 h7 V* H; m5 Q( v
C. At times positive and at other times negative 6 K% ?7 p3 U# b3 t
登录回复后可见:答案和详解# l1 ^! F( w# Q1 Q
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2. If mangoes cost India Rupees (INR) 10 each, a consumer spends his budget on fruits that he values more highly than mangoes. However, at a price of INR 4 per mango the consumer buys 20 mangos. The total consumer surplus (in INR) is closest to: * C2 \4 n! \2 {* O8 G, V
A. 26
& V, v8 y+ P0 R' U* kB. 60
5 i6 m1 f0 f* N; `/ @% @9 W }2 ~C. 120
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3. Which of the following government interventions in market forces is most likely to cause overproduction?
/ M" D, G% q! j2 c: c/ p5 u; AA. Price floors
$ a _" L' d0 i+ iB. Price ceilings $ t Z- W" P* w `8 v M% P+ D
C. Imposing an additional per-unit tax $1 on sellers
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1 L3 s: u( L& R. p4. Demand for a good is most likely to be more elastic when: ; J) I% R9 L* t: o
A. the good is a necessity2 W7 E; a: n: F" K1 i* S
B. a lesser proportion of income is spent on the good
7 j! `- H# N( j A; [8 t- MC. the adjustment to a price change takes a longer time ; l: B. i1 H0 [1 A, r
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5. Over a given period, the price of a commodity falls by 5.0% and the quantity demanded rises by 7.5%. the price elasticity of demand for the commodity is best described as: 2 {3 t4 _3 L9 |' G4 J: J* J
A. elastic
, I1 N- X& h$ J- k& L: {B. inelastic
0 p1 [2 d! N, y$ b H1 c% rC. perfectly elastic , O7 ~, c+ `& F+ ]
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