课程名称︰经济学一 课程性质︰通识A5 课程教师︰刘锦添 开课学院：社会科学院 开课系所︰经济学系 考试日期（年月日）︰2011.11.09 考试时限（分钟）：120 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : 1. (16%) Using supply-and-demand diagrams, show the effect of the following events on the market for sweatshirt and explain briefly. a. (4%) A hurricane in South Carolina damages the cotton crop. b. (4%) The price of leather jacket falls. c. (4%) All colleges require morning exercise in appropriate attire. d. (4%) New knitting machines are invented. 2. (6%) Suppose the price elasticity of demand for heating oils is 0.2 in the short run and 0.7 in the long run. a. (4%) If the price of heating oil rise from 1.8 to 2.2 per gallon, what happens to the quantity of heating oil demanded in the short run? (Using the midpoint method in your calculation) b. (2%) Why might this elasticity depend on the time horizon? 3. (16%) Congress and the President decide that United States should reduce air pollution by reducing its use of gasoline. They impose $0.5 tax for each gallon of gasoline sold. a. (6%) Should they impose this tax on producers or consumers? Explain carefully, using a supply-and-demand diagram. b. (6%) If the demand for gasoline were more elastic, would this tax be more effective or less effective in reducing the quantity of gasoline consumed? Explain with both words and diagram. c. (4%) Are consumers of gasoline helped or hurt by this tax? Why? Are workers in the oil industry helped or hurt by this tax? Why? 4. (11%) Consider how health insurance affects the quantity of healthcare services performed. Suppose that the typical medical procedure has a cost of $100, yet a person with health insurance pays only $20 out of pocket. Her insurance company pays the remaining $80. (The insurance company recoups the $80 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undertake.) a. (4%) Draw the demand curve in the market for medical care. (In your diagram, the horizontal axis should represent the number of medical procedures.) Show the quantity of procedures demanded if each procedure has a price of $100. b. (4%) On your diagram, show the quantity of procedures demanded if consumers pay only $20 per procedure . If the cost of each procedure to society is truly $100, and if individuals have health insurance as just described, will the number of procedures performed maximize total surplus? Explain. c. (3%) Economists often blame the health insurance system for excessive use of medical care. Given your analysis, why might the use of care be viewed as "excessive"? 5. (7%) Suppose that the government subsidizes a good: For each unit of the good sold, the government pay $2 to the buyer. How does the subsidy affect consumer surplus, producer surplus, government revenue, and total surplus? Does a subsidy lead to a deadweight loss? (Illustrate the CS, PS, government revenue, total surplus and DWL(if yes) before and after the subsidy) 6. (27%) Kawmin is a small country that produces and consumes jelly beans. The world price of jelly beans is $1 per bag, and Kawmin's domestic demand and supply for jelly beans are governed by the following equations: Demand: Qd = 8-P Supply: Qs = P where P is in dollars per bag and Q is in bags of jelly beans. a. (6%) Draw a well-labeled graph of situation in Kawmin if the nation does not allow trade. Calculate the following: the equilibrium price and quantity, consumer surplus, producer surplus, total surplus. b. (8%) Kawmin then opens the market to trade. Draw another graph to describe the new situation in the jelly beans market. Calculate the equilibrium price, quantity of consumption and production, imports, consumer surplus, producer surplus, total surplus. c. (8%) After a while, the Czar of Kawmin responds to the pleas of jelly beans producer by placing a $1 per bag tariff on jelly bean imports. On a graph, show the effect of this tariff. Calculate the equilibrium price, quantity of consumption and production, imports, consumer surplus, producer surplus, government revenue, and total surplus. d. (5%) What are the gains from opening up trade? What are the deadweight losses from restricting trade with the tariff? (Give numerical answers) 7. (9%) A local drama company proposes a new neighborhood theater in San Francisco. Before approving the building permit, the city planner completes a study of the theater's impact on the surrounding community. a. (4%) On finding if the study is that theaters attract traffic, which adversely affects the community. The city planner estimates that the cost to the community from the extra traffic is $5 per ticket. What kind of externality is this? Why? Illustrate the market situation to show the market equilibrium level of output, and efficient level of output. b. (5%) Upon further review, the city planner uncovers a second externality. Rehearsals for the plays tend to run until late at night, which actors, stagehands, and other theater members coming and going at various hours. The planner has found that the increased foot traffic improves the safety of the surrounding streets, an estimated benefit to the community of $2 per ticket. What kind of externality is this? Why? On a new graph, illustrate the market for theater tickets min the case of these two externalities, show the market equilibrium level of output, and efficient level of output. 8. (8%) Clarify which category does each of the following goods belong? Explain briefly. a. elk on a hunting preserve b. elk in the wild c. broadcast radio signal d. satellite TV signal --

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