經濟 1998 年 DSE、CE、AL 選擇題（第 2 頁）

11.

A factory dumps waste into a farmer's water supply, causing significant damage to the farmer. With prohibitive transaction costs in making contracts,

12.

In general, which of the following are the advantages of a small firm over a large firm in the same industry?

(1)There is a better relationship between the employees and the employer.

(2)It is more adaptable to changing market situations.

(3)Specialization can be carried out more extensively.

(4)More funds can be raised at a lower cost.

13.

The average productivity of labour will increase if

(1)there is an increase in the number of machines.

(2)there is an increase in the size of the labour force.

(3)there is an improvement in the health conditions of workers.

(4)workers work more hours per day.

14.

Which of the following would increase the labour supply of Hong Kong?

15.

Knowledge

16.

Suppose the demand for money increases, other things being equal, which of the following measures can stabilize the interest rate?

(1)a fall in the discount rate

(2)a fall in the required reserve ratio

(3)an open market sale of government bonds

17.

Private piano teachers are usually paid at an hourly rate instead of a piece rate. Which of the following statements are true?

(1)They tend to work longer hours.

(2)They are not encouraged to rush through more music pieces in a lesson.

(3)Their output is difficult to measure.

18.

Being a small investor, Peter prefers to be a shareholder of a public limited company rather than of a private limited company. This is because

19.

A divergence between private cost and social cost

20.

A famous singer expands his show business by producing stationery with his picture on it. This type of expansion is