CFA一级典型例题Economics经济学.doc

Economics
For markets with perfectly elastic supply, the introduction of a tax will most likely result in:
a price incely to result in:
both firms earn economic profits
neither firm earns an economic profit
one of the firms earns an economic profit but the other firm does not
Answer = B
The Nash equilibrium for the duopoly is that both firms cheat on their collusive agreement. Prices and quantities produced are the same as those in perfect competition; neither firm earns an economic profit.
The belief that money wage rates are sticky is least likely to be associated with:
classical macroeconomics
monetarist macroeconomics
Keynesian macroeconomics
Answer: A
Both Keynesians and monetarists believe that money wage rates are sticky. Classical macroeconomics does not.
Holding the working-age population constant, if the labor force participation ratio declines while the number of people employed remains unchanged, the unemployment rate will most likely:
increase.
decrease.
remain unchanged.
Answer: B
For a given working-age population, a decline in the labor force participation rate, often the result of an increase in discouraged workers, reduces the labor force. If the number of people employed remains the same while the labor force is smaller, the number of workers defined to be unemployed must be smaller and the unemployment rate lower.
Assume the . Federal