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質問 1：
An individual has recently inherited an antique car and decides to sell it via an auction. When the seller brings the car to an auctioning service, the auctioneer asks if it should be sold via an English (open outcry) auction, a Vickrey (sealed second-price) auction, or a sealed first-price auction. Which type of auction will result in the highest sale price?
A. An English auction
B. A sealed first-price auction
C. A Vickrey or an English auction, both of which will result in the same sale price
D. All three auctions types result in the same sale price
正解：D
質問 2：
Which of the following formulas is used to calculate operating income on the income statement of a manufacturing company?
A. Sales or revenue - operating expenses
B. Gross profit - operating expenses
C. Revenue- operating expense - interest expense
D. Net income + ending balance of cash
正解：B
質問 3：
A hurricane has recently destroyed a major oil supplier's oil rig located in the Gulf of Mexico. If price elasticity of demand for oil is 0, what effect would the hurricane have on the short-term market for oil?
A. The oil producer would be willing to supply less oil at any price.
B. Other oil producers would decrease their prices.
C. Consumers would reduce their oil consumption.
D. New producers would enter the market to provide the oil that was lost.
正解：A
質問 4：
A new weather forecast predicts a storm for Saturday. On Saturday, there will be an outdoor soccer match and an indoor basketball game played. If sports fans enjoy all types of sports, what will happen to ticket sales for both games?
A. Quantity of basketball tickets sold will increase by the amount of the decrease in quantity of soccer tickets sold.
B. Soccer ticket prices will decrease, and basketball ticket prices will increase.
C. Soccer ticket prices will increase, and basketball ticket prices will not be affected.
D. Soccer ticket prices will decrease, and basketball ticket prices will not be affected.
正解：B
質問 5：
A government is considering issuing a fixed number of permits allowing firms to pollute. When would this system fail to reduce pollution?
A. When the system is applied to all industries
B. When the price for a unit of pollution is too high
C. If the government issued too many pollution permits
D. During an economic expansion
正解：C
質問 6：
The owner of a small hardware store learns that a large competitor is opening a store nearby. The new competitor has smaller profit margins on each unit than the small store but earns profits through larger volume. Which of the following techniques would BEST help the small store remain competitive?
A. Run advertisements showing how neighborhoods improve through individual home improvement
B. Improve service by hiring workers specializing in the maintenance of power tools
C. Increase the size of the store
D. Lower prices below variable cost
正解：B
質問 7：
A company purchased a piece of equipment for $100,000 on Jan. 1, 2012. The estimated useful life is 10 years with no salvage value at the end of the10-year period. The company used the straight-line method to depreciate this equipment in 2012. However, in 2013, the company decided to change the depreciation method to the double-declining method. What effect did this change in depreciation methods have on the income statement for 2013 and the balance sheet as of Dec. 31, 2013?
A. The total assets decreased, and the net income increased.
B. The total assets decreased, and the net income decreased.
C. The total assets increased, and the net income decreased.
D. The total assets increased, and the net income increased.
正解：B
An individual has recently inherited an antique car and decides to sell it via an auction. When the seller brings the car to an auctioning service, the auctioneer asks if it should be sold via an English (open outcry) auction, a Vickrey (sealed second-price) auction, or a sealed first-price auction. Which type of auction will result in the highest sale price?
A. An English auction
B. A sealed first-price auction
C. A Vickrey or an English auction, both of which will result in the same sale price
D. All three auctions types result in the same sale price
正解：D
質問 2：
Which of the following formulas is used to calculate operating income on the income statement of a manufacturing company?
A. Sales or revenue - operating expenses
B. Gross profit - operating expenses
C. Revenue- operating expense - interest expense
D. Net income + ending balance of cash
正解：B
質問 3：
A hurricane has recently destroyed a major oil supplier's oil rig located in the Gulf of Mexico. If price elasticity of demand for oil is 0, what effect would the hurricane have on the short-term market for oil?
A. The oil producer would be willing to supply less oil at any price.
B. Other oil producers would decrease their prices.
C. Consumers would reduce their oil consumption.
D. New producers would enter the market to provide the oil that was lost.
正解：A
質問 4：
A new weather forecast predicts a storm for Saturday. On Saturday, there will be an outdoor soccer match and an indoor basketball game played. If sports fans enjoy all types of sports, what will happen to ticket sales for both games?
A. Quantity of basketball tickets sold will increase by the amount of the decrease in quantity of soccer tickets sold.
B. Soccer ticket prices will decrease, and basketball ticket prices will increase.
C. Soccer ticket prices will increase, and basketball ticket prices will not be affected.
D. Soccer ticket prices will decrease, and basketball ticket prices will not be affected.
正解：B
質問 5：
A government is considering issuing a fixed number of permits allowing firms to pollute. When would this system fail to reduce pollution?
A. When the system is applied to all industries
B. When the price for a unit of pollution is too high
C. If the government issued too many pollution permits
D. During an economic expansion
正解：C
質問 6：
The owner of a small hardware store learns that a large competitor is opening a store nearby. The new competitor has smaller profit margins on each unit than the small store but earns profits through larger volume. Which of the following techniques would BEST help the small store remain competitive?
A. Run advertisements showing how neighborhoods improve through individual home improvement
B. Improve service by hiring workers specializing in the maintenance of power tools
C. Increase the size of the store
D. Lower prices below variable cost
正解：B
質問 7：
A company purchased a piece of equipment for $100,000 on Jan. 1, 2012. The estimated useful life is 10 years with no salvage value at the end of the10-year period. The company used the straight-line method to depreciate this equipment in 2012. However, in 2013, the company decided to change the depreciation method to the double-declining method. What effect did this change in depreciation methods have on the income statement for 2013 and the balance sheet as of Dec. 31, 2013?
A. The total assets decreased, and the net income increased.
B. The total assets decreased, and the net income decreased.
C. The total assets increased, and the net income decreased.
D. The total assets increased, and the net income increased.
正解：B
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