Unit10Test

1、单选题：
‌Which of the following statement of oligopolistic markets is wrong?‌
选项：
A: There are only a few firms in an oligopolistic market
B: There are only a few firms in an oligopolistic market
C: There are no barriers to entry
D: The firm may produce homogeneous products, or it may produce differentiated products
答案: 【 There are no barriers to entry】

2、单选题：
‎Which of the following statements about the Cournot model is not true?​
选项：
A: It models oligopolistic firms making production decisions simultaneously
B: The Nash equilibrium can be used to analyze the optimal output decision of the firms
C: If both firms have the same cost functions, the optimal output choice will also be the same
D: The output choice of firm 1 does not affect the output choice of firm 2
答案: 【 The output choice of firm 1 does not affect the output choice of firm 2】

3、单选题：
Which of the following statements about the Stackelberg model is not true?‌‏‌
选项：
A: It models oligopolistic firms making production decisions simultaneously
B: The manufacturer who makes the decision later will take into account the production choice of the manufacturer who makes the decision first
C: Compared with the Cournot model, the manufacturer that makes the decision first has higher output level and enjoys higher profit
D: The firm that makes the decision first has the first mover advantage
答案: 【 It models oligopolistic firms making production decisions simultaneously】

4、单选题：
Which of the following is the model used by economists to describe the sequential pricing decisions made by oligopolistic firms:​‍​
选项：
A: Cournot model
B: Dominant firm model
C: Bertrand model
D: Stackelberg model
答案: 【 Dominant firm model】

5、单选题：
​Which of the following is not an essential element of a game:​
选项：
A: player
B: strategy
C: preferences
D: payoff
答案: 【 preferences】

6、单选题：
The prisoner’s dilemma is widely used to analyze real life problems. Which of the following is not an example of the prisoner’s dilemma?‌‎‌
选项：
A: The price war between home appliance manufacturers
B: Arms race between nations
C: Trade wars between countries
D: Students who report cheating in exams
答案: 【 Students who report cheating in exams】

7、单选题：

 Considering the following game.

‎

‎

‎

‍        What is the pure strategy Nash equilibrium of this game (if any)?

‎

‎选项：
A: (S, S)
B: (C, C)
C: (S, C)
D: (C, S)
答案: 【 (C, C)】

8、单选题：
As a group, oligopolistic firms would always be better off if they would act collectively‏​‏
选项：
A: as if they were each seeking to maximize their own individual profits.
B: in a manner that would prohibit collusive agreements.
C: as a single monopolist.
D: as a single perfectly competitive firm.
答案: 【 as a single monopolist.】

9、单选题：
‏When an oligopoly market is in Nash equilibrium,‏
选项：
A: market price will be different for each firm.
B: firms will not behave as profit maximizers.
C: a firm will choose its best pricing strategy, given the strategies that it observes other firms taking.
D: a firm will not take into account the strategies of competing firms.
答案: 【 a firm will choose its best pricing strategy, given the strategies that it observes other firms taking.】

10、单选题：
In what type of market do the actions of any one seller have a significant impact on the profits of all other sellers?‍‌‍
选项：
A: a monopoly
B: perfect competition
C: monopolistic competition
D: an oligopoly
答案: 【 an oligopoly】

11、判断题：
‎If two firms in the oligopolistic market could collude on output decision, they will earn lower profits than they would under independent self-interest choices.‍
选项：
A: 正确
B: 错误
答案: 【 错误】

12、判断题：
‌In the Stackelberg game, the firm making choice first has first-mover advantage, meaning that first-mover firm would have higher output level and enjoy higher profit.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

13、判断题：
‏In oligopolistic market, the decisions of firms are not based on profit maximization‌
选项：
A: 正确
B: 错误
答案: 【 错误】

14、判断题：
The reaction function of firm A describes the optimal choice of firm A given the choices made by all other firms.​‏​
选项：
A: 正确
B: 错误
答案: 【 正确】

15、判断题：
In a Betrand game, if two firms produce homogeneous goods and face identical cost functions, then the Nash equilibrium outcome resembles pricing under perfect competitive market.‎‎‎
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：
In a Betrand game, if two firms produce homogeneous goods and face identical cost functions, then the pricing of both firms in the Nash equilibrium would be higher than firm marginal cost.‏‎‏
选项：
A: 正确
B: 错误
答案: 【 错误】

17、判断题：
For a mixed strategy, all the probabilities on different actions must add up to 1.‌‎‌
选项：
A: 正确
B: 错误
答案: 【 正确】

18、判断题：
A game tree is usually used to analyze a simultaneous game (rather than a sequential game).​​​
选项：
A: 正确
B: 错误
答案: 【 错误】

19、判断题：
‍There is one and only one Nash equilibrium in any game.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

20、判断题：
For some games, there is no pure strategy Nash equilibrium.‍​‍
选项：
A: 正确
B: 错误
答案: 【 正确】

Unit1Test

1、单选题：
‎Which of the following statements is a normative statement?​
选项：
A: The government ought to take some measures to reduce the unemployment rate
B: The unemployment rate is up 1 percentage point from a year ago
C: The unemployment rate is currently at 6.5 percent.
D: Based on empirical data, the higher the rate of inflation, the lower the unemployment rate.
答案: 【 The government ought to take some measures to reduce the unemployment rate】

2、单选题：
‎Which of the following statements is not a positive statement?​
选项：
A: Increasing pollution taxes can reduce pollution emissions.
B: Based on empirical data, environmental pollution first rises and then falls with per capita income, presenting an inverted U-shaped curve.
C: Taxing air pollution will increase the cost of making steel.
D: Air pollution is harmful, therefore, the government should increase the tax in order to reduce pollution.
答案: 【 Air pollution is harmful, therefore, the government should increase the tax in order to reduce pollution.】

3、判断题：
‏Economics is the study of how scarce resources are allocated efficiently among different uses.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

4、判断题：
‍Microeconomics studies the economy from the perspective of individual agents, such as consumers, firms, governments, etc.‎‍‎
选项：
A: 正确
B: 错误
答案: 【 正确】

5、判断题：
Microeconomics studies the overall economy, such as gross domestic product, economic growth, interest rates, unemployment, inflation, etc.‍​‍
选项：
A: 正确
B: 错误
答案: 【 错误】

6、判断题：
Exogenous variable is generated within a model and whose value is changed by the other variables in that model.‍‍‍
选项：
A: 正确
B: 错误
答案: 【 错误】

7、判断题：
If an allocation is Pareto efficient, to make any one get better off we must make another one worse off.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

8、判断题：
Given an initial allocation, if you find a change in allocation could help at least one person and harms no one, the change is called Pareto improvement. ‍‎‍
选项：
A: 正确
B: 错误
答案: 【 正确】

9、判断题：
‌An allocation is Pareto efficient if it allows Pareto improvement.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

Unit2Test

1、单选题：

‏If utility is given by  , then the person’s MRSxy at the point x = 5, y = 2 is given by     . (hint: calculate MRSxy =MUx/MUy first, then substitute the value of x and y)

‎选项：
A: 1
B: 1.5
C: 5
D: 0.4
答案: 【 0.4】

2、单选题：
​If utility is given by  U(x,y)=x+y, then the person’s MRSxy at the point x = 5, y = 2 is given by     . ‏
选项：
A: 1
B: 1.5
C: 5
D: 0.4
答案: 【 1】

3、单选题：
‌If utility is given by  U(x,y)=min{x,y}, then the person’s MRSxy at the point x = 5, y = 2 is given by     . ​
选项：
A: 1
B: 1.5
C: 5
D: 0
答案: 【 0】

4、单选题：
‏If utility is given by  U(x,y)=2xy, then the person’s MRSxy at the point x = 5, y = 1 is given by     . (hint: calculate MRSxy =MUx/MUy first, then substitute the value of x and y)‌
选项：
A: 1
B: 1.5
C: 5
D: 0.2
答案: 【 0.2】

5、单选题：
‎Which of the following utility functions would not be consistent with the notion that x and y are both “goods” with positive marginal utilities (ie. more is better)?‍
选项：
A:
B: U(x,y)=x+y
C:
D: U(x,y)=x/y
答案: 【 U(x,y)=x/y】

6、单选题：
‏Which of the following utility functions would be consistent with the notion that preference is strictly convex (Hint: MRSxy is diminishing as x increases)?‏
选项：
A:
B: U(x,y)=x+y
C: U(x,y)=2x+y
D: U(x,y)=min{x,y}
答案: 【 】

7、单选题：
‍Which of the following is not an axiom of consumer preference?‏
选项：
A: Reflexivity
B: Completeness
C: Convexity
D: Transitivity
答案: 【 Convexity】

8、判断题：
​In microeconomics, if α is at least as preferred as β and β is at least as preferred as γ, then α must be at least as preferred as γ.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

9、判断题：
‏All consumption bundles on the same indifference curve are equally preferred for the consumer.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

10、判断题：
‎For a well-behaved preference, a consumption bundle on a higher indifference curve must bring lower utility level.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

11、判断题：
‏For a well-behaved preference, the indifference curves must be positive sloped.​
选项：
A: 正确
B: 错误
答案: 【 错误】

12、判断题：
​For a well-behaved preference, the indifference curves must be straight lines.‌
选项：
A: 正确
B: 错误
答案: 【