11. A binding price ceiling
(A) causes a surplus
(B) causes a shortage
(C) increases consumers’ surplus
(D) increases producers’ surplus

7. An oligopoly with a dominant price leader will produce a level of output (A) between that which would prevail under perfect competition and that which a monopoly would choose in the same industry (B) between that which would prevail under competition and that which a monopolistic competitor would choose in the same industry (C) equal to what a monopolist would choose in the same industry (D) the same as that which would prevail under competition

8. All externalities (A) cause markets to fail to allocate resources efficiently (B) cause equilibrium prices to be too high (C) benefit producers at the expense of consumers (D) cause equilibrium quantity to be too high

複選題9. Which of the following goods is the best example of a public good? (A) Online TV service provided by Netflix (B) Garbage-collection services that are provided by a municipal government (C) Music that is broadcast over the airwaves by a privately-owned FM radio station (D) Electricity provided by renewable energy sources

10. Of the following countries, which country’s government collects the largest amount of tax revenue as a percentage of that country’s total income? (A) Denmark (B) Japan (C) Taiwan (D) United States

12. Minimum-wage laws (A) affect highly-educated workers more than high school dropouts (B) cause labor shortages, which further raise wages above equilibrium (C) reduce unemployment (D) create unemployment

13. Which of the following statements is NOT considered a disadvantage of GDP measurement? (A) GDP measurement does not take different price levels in different countries into account. (B) GDP measurement does not reflect living quality. (C) GDP measurement does not include the product of household labor. (D) GDP measurement does not include the product of foreign labor.

14. Which of the following is NOT a factor of the rise of real GDP in a country? (A) Advance of technology (B) Rise of the education level (C) Rise of the price level (D) Increase of investment

15. Which of the following statements may NOT be a result of steady inflation? (A) Steady inflation can make it easier to conduct price negotiations. (B) Steady inflation can facilitate economic growth. (C) Steady inflation can raise unemployment rates. (D) Steady inflation can help redistribute income.

16. Trade can make everybody better off because it (A) increases cooperation among nations (B) allows people to specialize according to comparative advantages (C) increase prices (D) reduces competition among domestic companies

17. Which term can be used to describe the following situation: “firms’ marginal revenue is not equal to the price of the goods, and thus they do not equate the marginal cost and the price”? (A) Externalities (B) Monopoly/oligopoly power (C) Ignorance and uncertainty (D) Public goods and services