经济学基础Chapter4.doc

Economics, 11e, Global Edition (Parkin) Chapter 4 Elasticity 1 Price Elasticity of Demand 1) Suppose the price of burgers increases from $2 to $3 each. The degree to which quantity demanded responds to this price increase depends on the A) price elasticity of demand. B) the price elasticity of supply. C) income elasticity of demand. D) cross elasticity of demand. Answer: A Topic: Price Elasticity of Demand Skill: Analytical Status: Old AACSB: Analytical Skills 2) The price elasticity of demand measures A) how often the price of a good changes. B) the slope of a budget curve. C) how sensitive the quantity demanded is to changes in demand. D) the responsiveness of the quantity demanded to changes in price. Answer: D Topic: Price Elasticity of Demand Skill: Definition Status: Old AACSB: Analytical Skills 3) Elasticity measures the A) percentage change in a variable. B) slope of a curve. C) change in a variable. D) responsiveness of a variable to a change in another variable. Answer: D Topic: Price Elasticity of Demand Skill: Definition Status: Old AACSB: Analytical Skills 4) The price elasticity of demand for purses is measured in what units? A) dollars B) purses C) dollars per purse D) The price elasticity of demand is a unitless measure. Answer: D Topic: Price Elasticity of Demand Skill: Recognition Status: Revised AACSB: Analytical Skills 5) The price elasticity of demand is defined as the magnitude of the A) change in quantity demanded divided by the change in price. B) change in price divided by the change in quantity demanded. C) percentage change in quantity demanded divided by the percentage change in price. D) percentage change in price divided by the percentage change in quantity demanded. Answer: C Topic: Price Elasticity of Demand Skill: Definition Status: Old AACSB: Analytical Skills 6) The price elasticity of demand is calculated as the absolute value of the A) percentage change in quantity demanded divided by the p