5. J 曲線效果指的是下列何種現象？
(A) 在貨幣貶值後，GDP 通常會先減少再增加
(B) 在貨幣升值後，GDP 通常會先減少再增加
(C) 貨幣升值後，貿易收支通常會先退步再改善
(D) 貨幣貶值後，貿易收支通常會先退步再改善

1. A consumer has $60 to spend on coffee and tea. Suppose that coffee and tea are perfect substitutes for him and his marginal rate of substitution (MRS) of tea for coffee is 2. If coffee and tea have the same price per unit, how will he do? (A) He will spend all $60 on coffee. (B) He will spend all $60 on tea. (C) He will spend $40 on coffee and $20 on tea. (D) He will spend $20 on coffee and $40 on tea.

2. For equivalent amounts of cash transfer and inkind transfer, which gives an individual a higher level of utility? (A) Cash transfer. (B) Inkind transfer. (C) They give the same level of utility. (D)Cash transfer is no worse than inkind transfer.

3. Which of the following statements is correct? (A) The uncompensated demand curve is always downward sloping. (B) The compensated demand curve is always downward sloping. (C) The uncompensated demand curve is downward sloping when substitution effect is greater than income effect. (D)The compensated demand curve is downward sloping when substitution effect is greater than income effect.

4. Suppose that a firm uses labor and capital to produce q units of output. When the price of labor and the price of capital increase by the same percentage, how will the firm change its combination of labor and capital to produce the same amount of output q? (A) The firm will reduce the amount of labor and the amount of capital by the same percentage. (B) The firm will increase the amount of labor and the amount of capital by the same percentage. (C) The firm will use the same combination of labor and capital as they did before the prices change. (D)The combination of labor and capital will depend on their marginal products.

5. Longrun average cost is never greater than shortrun average cost because in the long run (A) Labor is cheaper in the long run. (B) Capital is cheaper in the long run. (C) Labor and capital are cheaper in the long run. (D)Firms can move to the lowest possible isocost line.

6. Under a competitive market, suppose that all firms are identical. For each individual firm, longrun average cost is minimized at $0.20 per unit and 500 units are produced. The market demand is Q=10,000/P and the longrun supply is horizontal. How many firms will this industry sustain in the long run? (A) 0 (B) 100. (C) 50,000. (D)There is no enough information to answer.

7. In a Cournot model of two firms selling identical products, if one firm has lower marginal cost than the other firm, then (A) the firm with lower marginal cost sells more units of output. (B) the firm with lower marginal cost earns a higher profit. (C) both firms face the same price. (D)all of the above are correct.

8. Which of the following statements is true? (A) A risklover must not buy insurance. (B) A riskaverse individual must buy insurance. (C) A riskloving individual's marginal utility of money is positive and increasing. (D)A riskaverse individual's marginal utility of money is negative and decreasing.

9. If an agent must pay the full marginal cost for a unit of output but splits the marginal revenue with the principal. As a result, (A) the agent wants to sell as many units of goods as he can. (B) joint profit is maximized (C) joint profit is not maximized. (D)the agent is not willing to work for the principal.

10. Under a pure exchange economy with two consumers and two goods, suppose that the two consumers are already on the contract curve. A further reallocation of the two goods will make (A) both consumers better off. (B) both consumers worse off. (C) at least one of them better off. (D)at least one of them worse off.

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