Chapter 4_1: Elasticity

Chapter 4_1: Elasticity; 
Thời gian làm bài: 40 phút

Câu 1: The slope of a demand curve depends on
a. the units used to measure quantity but not the units used to measure price.
b. the units used to measure price and the units used to measure quantity.
c. the units used to measure price but not the units used to measure quantity.
d. neither the units used to measure price nor the units used to measure quantity.

Câu 2: The price elasticity of demand depends on
a. the units used to measure price but not the units used to measure quantity.
b. the units used to measure price and the units used to measure quantity.
c. the units used to measure quantity but not the units used to measure price.
d. neither the units used to measure price nor the units used to measure quantity.

Câu 3: The price elasticity of demand measures
a. the slope of a budget curve.
b. how often the price of a good changes.
c. the responsiveness of the quantity demanded to changes in price.
d. how sensitive the quantity demanded is to changes in deman

Câu 4: When the quantity of coal supplied is measured in kilograms instead of pounds, the demand for coal becomes
a. more elastic.
b. neither more nor less elastic.
c. less elastic.
d. undefined.

Câu 5: The price elasticity of demand equals
a. the percentage change in the quantity demanded divided by the percentage change in the price.
b. the change in the quantity demanded divided by the change in price.
c. the percentage change in the price divided by the percentage change in the quantity demande
d. the change in the price divided by the change in quantity demande

Câu 6: If a rightward shift of the supply curve leads to a 6 percent decrease in the price and a 5 percent increase in the quantity demanded, the price elasticity of demand is
a. 0.83.
b. 0.30.
c. 0.60.
d. 1.20.

Câu 7: A 10 percent increase in the quantity of spinach demanded results from a 20 percent decline in its price. The price elasticity of demand for spinach is
a. 0.5.
b. 20.0.
c. 2.0.
d. 10.0.

Câu 8: A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is
a. 2.0.
b. 10.0.
c. 0.5.
d. 20.0.

Câu 9: Suppose a rise in the price of peaches from $5.50 to $6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand is
a. 0.5.
b. 1000.0.
c. 2.0.
d. 1.0.

Câu 10: A fall in the price of lemons from $10.50 to $9.50 per bushel increases the quantity demanded from 19,200 to 20,800 bushels. The price elasticity of demand is
a. 1.25.
b. 1.20.
c. 8.00.
d. 0.80.

Câu 11: A fall in the price of cabbage from $10.50 to $9.50 per bushel increases the quantity demanded from 18,800 to 21,200 bushels. The price elasticity of demand is
a. 1.20.
b. 0.80.
c. 8.00.
d. 1.25.

Câu 12: Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The price elasticity of demand is
a. 1.66.
b. 6.00.
c. 0.60.
d. 1.40.

Câu 13: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ decrease in the quantity demanded.
a. 10 percent
b. 50 percent
c. 2 percent
d. 5 percent

Câu 14: A shift of the supply curve of oil raises the price of oil from $9.50 a barrel to $10.50 a barrel and reduces the quantity demanded from 41 million to 39 million barrels a day. The price elasticity of demand for oil is

Used for questions No.14 to 16

a. 2 million barrels a day per dollar.
b. 0.5.
c. $1 per 2 million barrels a day.
d. 2.0.

Câu 15: The table above gives the demand schedule for snow peas. The price elasticity of demand between $6.00 and $7.00 per bushel is
a. 1.0.
b. 5.0.
c. 2.0.
d. 2.6.

Câu 16: The table above gives the demand schedule for snow peas. If the price of snow peas falls from $4.00 to $3.00 a bushel, total revenue will
a. increase because demand is elastic in this range.
b. increase because demand is inelastic in this range.
c. decrease because demand is inelastic in this range.
d. decrease because demand is elastic in this range.

Câu 17: The table above gives the demand schedule for snow peas. The demand curve for snow peas is a straight line and so the elasticity of demand is

Used for questions No.17 to 20

a. lower at higher prices.
b. higher at higher prices.
c. 1 at all prices.
d. the same at all prices but not 1.

Câu 18: The table above gives the demand schedule for peas. As you move from point A to point B, the price elasticity of demand equals
a. 0.50.
b. 0.11.
c. 9.09.
d. 0.22.

Câu 19: The table above gives the demand schedule for peas. As you move from point C to point D, the price elasticity of demand is
a. 3.00.
b. elastic.
c. 0.75.
d. unit elastic.

Câu 20: The table above gives the demand schedule for peas. Which of the following statements correctly describes the price elasticity of demand?
a. The price elasticity of demand is larger at point A than at point
b. The price elasticity of demand is constant because the slope is constant.
c. The price elasticity of demand increases moving from point A to point B to point C to point D to point E.
d. The price elasticity of demand is larger at point D than at point

Câu 21: If demand is price elastic,
a. a 1 percent decrease in the price leads to an increase in the quantity demanded that exceeds 1 percent.
b. a 1 percent increase in the price leads to an increase in the quantity demanded that exceeds 1 percent.
c. the price is very sensitive to any shift of the supply curve.
d. a 1 percent decrease in the price leads to a decrease in the quantity demanded that is less than 1 percent.

Câu 22: The price elasticity of demand can range between
a. negative one and one.
b. zero and infinity.
c. zero and one.
d. negative infinity and infinity.

Câu 23: Demand is perfectly inelastic when
a. the good in question has perfect substitutes.
b. shifts in the supply curve results in no change in price.
c. shifts of the supply curve results in no change in quantity demande
d. shifts of the supply curve results in no change in the total revenue from sales.

Câu 24: If the price elasticity is between 0 and 1, demand is
a. inelastic.
b. elastic.
c. perfectly elastic.
d. unit elastic.

Câu 25: Demand is inelastic if
a. a large change in quantity demanded results in a small change in price.
b. the price elasticity of demand is greater than 1.
c. the quantity demanded is very responsive to changes in price.
d. the price elasticity of demand is less than 1.


Time Coundown: