1988-07-30 — Page 23

(23)

育教

日七十月六年辰戊您。

(iii)

Price

1988中學會考

̇試題預習專欄

經濟建議答案

SUGGESTED SOLUTIONS TO

CONOMICS

1. (n)

(1)

Price

F

Persona demand!

Price

0

D

quancity

Pergoa e demand

curve

{i} Person A 停心什维克 新型室

according to the law

8

of demand,

Price

2 Quantity

When the government imposes a per unit tax on cigarettes, the cost of production rinen asd

supply curve shifts

upward. This is like #decrease in supply. Therefore, the equilibrium price in pushed up and the equilibrium quantity decreasey.

(ii) Price

0

QQ, quocity

When the government imposes ou effective minimum price on cigarettes, the price should be higher than the original

equilibrium, Vik. Pot

Now the new

equilibrium price becomes P.e. the minimum price. Following price increase

the quantity

dewunded becomes less.

Therefore the

equilibrium quantity

decrease to

Que--Q, quanti tý

When medical research proves that smoking CHUHEF Lancer, thir will discourage the smokers from smoking-

Hence there in a decrease in demand, and bath the

equilibrium price and the equilibring quantity decrease.

(e) It is because with the

imposition of a quote on cigarette selbs; the government can reduce the cigaretle

ebngumption 10 an

intended amount

However, with a per

wit tax the government. j

cannot reduce the

cigarette consumptiotr to a level it experts becauses the

effectiveness of a per unit tax in cutting down the cigarette consumption depends o the elasticity f demand.

(d) Price

筷

TAX

P

Q-0, quantity

If the demend for cigarette is inelastic und the government impuses a per mit tax on theu, the consumers' total

expenditure on

cigarette increases,

i.e. from OP, * 001 to

seen the ince a

amount of expeg Murr effected by the p iperense, i.e. P.PE.e. 18 more than the decreasey 林ㄇat 主 expenditure affected by the decrease in quantity demondled, 1.c. Qe

(a) Capitaly marketstagr

the transaction of long-term findes assuta. In other sendk, it is where the log term fund ruisingkedin -take place, Table 2

gives the informaton about the capital market.

Money market is for the transaction of short-term financial assets. in other words, it is where the short- term fund raising can take place. Table 1

gives the införmation about the money market.

(b)(i) From the urdinary

investors' view- point the

economic functions performed by u

stock market are dividend earning end store of wealth.

(ii) From the viny-

point of the

compania jasuing stocks, the economic function performed by stock market is capital raining.

(c) (i) Depositing the

money in h

Savings account has the highest liquidity heckuve

the Lavertor cais take out his money from the savings

time he wants.

(ii) Repositing the

money in a fixed depus account gives the most certain return because the interest is known when he deponits the money.

(i)Buying shares

gives the highest possible return because the prices of live whores way rise to any level. (d) (i) Since the money

defined as the currency in the hands of the public plus ali kinds of bank deposits, Mg

(8800 million} minus the currency in the hands of the public ($200 million) equo 1

5000 millione the total amat

of boask depot

Ness cearen

Reserves mus

estire reserves,

節約小) million x 140%

-25%)

=890 milljon

(iii)Banks usually

((a) (i)

maintain a higher reserve ratio than is required by law because there may not be enough borrowers of money

or the banka want to reduce the passibility of

'bank run".

In 1980 the

average output per man-hour is

$20000 million

10 mil) (on man-nurs

-82000, and in 1987 the average output per man- tourin

A million mna-hours

U51. Therefore the bour

Thercare

(ii) one of the relions

for the chanja ins labour productivi ty may be better education and

training for the

labong. Another

專欄廣告

旅遊介紹 專編薦表

報日僑箠

improvement in technology.

{b}{i} Hong Kong

construction firma Berunging gume

Den to work with metal,

Wils

with core rele

11lustrate Lad

principle ot division of Jubour.

(i) Division of labour

can intrense

labour productivis

Ly owing to the following

1 S

Firstly, ime saved. Different jobs require different skills, different action and different cky thms of work. When switching from one jub 19 another, a worker needs time in

differences. With division of labour, the time involved in ndjustment can

Secondly, a worker will become more skilful through repetition op his work.

(iii)For division of

fir

labour, the whole production may be split into various processes which are highly inter- dependent. When one of the

process he

problem

whole production

why Farge areCK003

Construction firmo

can finish o

FL

iwpe than a

small lopul arie

may be ther

ar subsidized by

their government

ti compete for a lurger share of the words ork,

Another teasun may be they can enjoy technical

scale s Lie expensive, but very efficient

afforded when there are mutly prajects to share the cust,

fil) Because of the

competition from large overseas.

Construction Tirms, he efficiency an thượ Construction may aetained. Thuse firms unabie-in improve their

egree of efficiency caunet Hurvive in the

ingreaze imag

tend to better

pr«uuela or

cheaper priers.

Brides, the

advored treinn

Jegy resulted from very

research and development prejecta ju foreign countries How may be learnt by the lacul people.

(iii)une of the

veonari e reason% why local workers

proposal of omiloving workers from early

the reduction in job opphetunGULARL

Another Péasna niy be the depressive effect at wage

rates.

(a) (i) The data

indicate that there wus inflating in country A becauke the price index гage from 100 in

1987-

(ii) The per capita

real consumption for 1987 ia 100 $1210mmx

-$200.

120 5.5mm

(ii)To find out which

year saw a higher living standard, the per capi ta real consumption

for both years should be

compared. The per capita real

consumption fer

1986 in

鲜肉

firm

is more

for

Therefore

g

tagged was

higher in 1986,

(iv) Even though timed

real governmeifi, expenditure

rensined the same in 1987, the real investment expenditure in 1987 hua rleen significantly. This will lead to increase in national income, Assuming the papulation growth

is not capid, there will probably be higher livings standard after 1987.

(b) (i). This would not

affect long. Kong's GDP in that year because the value of the goods is still copated au part of the aggregate outpat in that year. (11) The American

workers in blan protected industrien vill,

Berade reatrition

Visepee their products can be

gold more and ut

a better price

and so they can

enjoy highaz

六期星白十三月七 (八八九一)年七十七國民華中

5.

wages and higher

oxplayment

opportunity,

Benides, the

American industrialists in the protected Industries will goin from the trade restriction because they can sell more and

earn more

(iii) the government

changed the linked exchange rate from US$1= IK67.80 Lo U581- IK87.00, the Hong Kong expor La would become Bere expensive and so would lose their competitiveness This would result in a decreuse in the quantity of gardents exported, Hence, the local industrialists! profits would decrease, the local workerar employment opportunity would' become less and the market share of the Hong Kong turnent would fall.

(a) (1) The entertainment

tes is a regres- Bive tax. The tax is fixed at a certain amount *irrespective of

the income earned Hed so it will take a decreasing proportion of

income as incone rises.

(ii) pirect tax ie

defined as based on a person's income while indirect tax is a tux based on a Peraus's expendi- ture. The earnings and Profits tu is a

(iv)

Fives, the earnings and profite tax rises and when the

GDP level LHlla. the tax falls. It is because

producer mors, ita prople villerat more and "Að"

poxymore taxes。

government's Botage comes. onzoly from direct taxes,

Setia direct

taxes have to be relatively bigber. Thia muy discourge workers from working hord and may reduce firms incentive to javeat...

(b) (1) The very, rich

would be not affected the

their incvme pnid as Lax would remain unchanged because they have heen paying at the sama duximum rate:

their

little,

(ii) whether those in

the low income group would be affected or net depends on nominal incune level. If they earn very their coming i income level though pushed up by inflavin would not fall

so the Lux Bes. But if they ours not tea Fitle, their nominal income level now pushed up by inflation would fall into the Lax uet.

An) () opportunity cont

is defined as the highest-valued

appor tumma ty forgone.

(ii) When the daughter

the grocery

store,

the cost to her

is all the

welfore she can get from her job in the truding fira,

(iii)No, there would

not have been any

change in the

cost of using the

alore premises

because between

Tup.. to midnight

Lhe store

premises involve

no other uses and thus no sierifice, (iv) one of the

advantages of sole

proprietorship may be higher incentives for the owner to work for his firo. Another advantage may be cinser. relationship, with customers hocause the owner ray

probably stay at

his firm and try

his best to,

his custoDNJA 4,

Firstly sole

proprietorship is

"af "mitimi teđe

liability while Tardine Matheson

limited company, Le of limited t liability,

Unlimited

liability means

if une's business

is to go bankrupt

then the debts of the busfuesa must.

be paid by selling Que'a own private assel, When" a hu@inens har limited liability, then this, beins that une who

s

invested.money 10

that firm is only

liable for the

amount one has

proportion of

invested.

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快一個階段,則是他必須盡證過往的好,

,磐宏一盤:一個晚上可以取行保證代理 - 不必「直通」,位

朝花場廣智

日光:

,把唱越過云就烧了。 一位北京现在迓存「吃掉你」 家 - 就是百社的碗型粱行壮n E

」,那不省事?? 台商,說樹「優機」辦法去投資 」。只要台灣做了「她方破府, 在。作為中國百姓的尋常人,也 她喝破,經快就成了「妙想天堂之後,「吃」将了國家不負責 那些自以聽阴的「債仔」 先河,又是「!通」的「實踐」

難,而達點落砣分子,现在在給大陸的焊虫们「吃一光了, 這回落伍思能存在於落而鄰,也可貴的廟。做封之说,即 ̇肯樂其感,就此開一合作]的 『雖然中民國可委託笫國領

民族大義」,頗爲光采。到期不

我早就唔得-童年是那樣的短暫4

只好怨道:主人愈來愈離用,寬

,力氣也不夠了 去,却只能穿一點點,雙脚長得不夠長

有趣的經歷

的,這也不大褙楚,那也不大曉。 也許孩子的長大,就是一個誌。 作爲父母,對於女,宿就是一知半解 女兒的一輛三輪車,我旦在兩年之 那時侯,她才十多個月

F

,是唇撥知道有那麼一種自行事的?也 我,獵不衛採兩正直唸的「雞車」。她

发鋭習的。,

地有了興致,是因能忍地有了空間)。 宋连的空間太少,女兒是根本不能在家过

任我進過父親,是怎樣當的理 .敎我在快樂之中又帶上幾分難選——到

輪車的。她騎得那麼好,很有經驗的, 一似乎,女兒是「突然」怪得了騎三

戚者攤织下去,愈說愈離患,年

如有一次說談者茄:「冬天時,我

家有孤君天頓,可把天遮得密密,两

無些空巧」。

難有如來圓

們來

自即付咋發相造

車汽

舌凳宜

立疑,人才是

相宜,當你仔細為下去,打後推到市面來,隨海門老的

脚下弹十委蹶難以六耳,他們把劲

跑車增,便的後

事叫作「中古車」,意味中

耳期日:

不

我明的效能亦無能為力自担其說,

的有車

燦便節省得多了。.

、台灣車亞有內苦,昝制車,不涧使用一年,假如沒》

行德低,一部出後新,不也的,何况必先進行大作,儘

有意外,車輛貸旁還是不惜

:”

其就的热。

海文

洋化

灬個階段创含的内容將凡是:梁隼人 則道人巴着手從事試驗,我久支持力量。” 海洋 海在後一個階段,以後一個階段,則為要物質或其它方面的、不、果

試驗之前後來劃分,才發展的社會風氣,敎育制度,或是很累速發展出來的程

*榮世所滅。俱

知成雞了成動

苑不

對溫事物的思考,他的日常行為,他的一向盤說,配设到被逛,其荽须离至死的例脊,行政也好,上許多「要性大小出 的思想,他的教育根基,學校教育就自學成一子,屢見不鮮。這些群可列入被狼力量形成 也好,這些機構內,也會都具有建設性工作, 的研究聽接,引起動快的客觀事物和遺個人屢見不断、從只是被笑,被疑報,這發行日度,铜的科研部門,經濟學也好,激

·切可见的研究行動源:擁除困難,堅持發展的獨立人格。安放任戒惧動即可形成,即可便拉布 許多科學人才被埋沒,在科學史上,是:雲材,

N

翅翅好,學人成能放展

投設,行间 的才上被出任

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