《江西财经大学微观经济学试题库》chapter 6.docVIP

Microeconomics, 10e (Parkin) Chapter 6 Government Actions in Markets 1 A Housing Market With a Rent Ceiling 1) A price ceiling is a price A) below which a seller cannot legally sell. B) above which a seller cannot legally sell. C) that creates a surplus of the good. D) Both answers A and C are correct. Answer: B Topic: Price Ceiling Skill: Recognition Question history: Previous edition, Chapter 6 AACSB: Reflective Thinking 2) A price ceiling ________. A) makes it illegal to charge a higher price than the specified price B) is more effective when it is higher C) is necessary to maintain market equilibrium D) occurs in housing markets only Answer: A Topic: Price Ceiling Skill: Recognition Question history: Previous edition, Chapter 6 AACSB: Reflective Thinking 3) A price ________ is a regulated ________ that must be set below the equilibrium price to have an effect. A) floor; price B) floor; quantity C) ceiling; price D) ceiling; quantity Answer: C Topic: Rent Ceiling Skill: Recognition Question history: Previous edition, Chapter 6 AACSB: Reflective Thinking 4) In order to have an effect, a price ceiling must be set ________. A) above the equilibrium price B) equal to the equilibrium price C) below the equilibrium price D) by suppliers Answer: C Topic: Rent Ceiling Skill: Recognition Question history: Previous edition, Chapter 6 AACSB: Reflective Thinking 5) A rent ceiling below the equilibrium rent will create A) a more efficient allocation of housing. B) a larger number of apartments rented. C) no change in the number of apartments rented. D) increased search time and black markets. Answer: D Topic: Rent Ceiling Skill: Recognition Question history: Previous edition, Chapter 6 AACSB: Reflective Thinking 6) A rent ceiling ________. A) increases the quantity of rental units supplied B) cannot change the market price C) set above equilibrium price has no effect D) generally aims at insuring that landlords receive a higher rent than would oth