綜合介紹文件

MacroeconomicMacroeconomicMacoeconomicMacoeconomic?????GovernmentobjectivesfortheeconomyarereferredtoasmacroeconomicThethreemaintargetsareEconomicgrowth&highLowBalanceofpaymentsstability【BalancingthegovernmentbudgetTheTheComponentsofGDP=C+I+G+(X- C=Consumerspendingonfinalgoodsand I=Grossprivatedomesticinvestment(e.g.,plantandequipment)andchangesininventory(inventoryinvestment) G=Governmentspendingonfinalgoodsand X= M=InflationrelatedInflationrefersInflationrelatedInflationreferstoasustainedriseintheoveralllevelofpricesinaneconomy.Stagflation:ahighinflationrateiscombinedwithahighlevelofunemploymentandaslowdownoftheeconomyDeflation:negativeinflationHyperinflation:extremelyhighinflationrate,e.g.500toDemand-pullinflationmightoccurwhenexcessaggregatemonetarydemandintheeconomyCost-pushinflationwilloccurwhenthereareincreasesinproductioncostsindependentofthestateofdemandnnnnnnPoliciesforachievingmacroeconomicPoliciesforachievingmacroeconomictargetsPoliciesPoliciesforachievingmacroeconomic1Fiscal?Howmuchthegovernmentdecidesto1Fiscal?Howmuchthegovernmentdecidestospend,andtoraiseasAgovernmentmightinterveneintheeconomy?SpendingmoremoneyandfinancingexpenditurebyContractionary:Collectingmoreintaxeswithoutincreasingpublicintaxesinorderpublicspending,divertingincomefromonepartoftheeconomyto2Monetary??Controloverthemoney2Monetary??ControloverthemoneysupplyandofinterestratesEg:CutininterestrateswillresultinAndecreaseinsavingAincreaseinborrowingAincreaseinMoneyInterestEx-Ex-PilotpaperGovernmentshaveanumberofeconomictargetsaspartoftheirmonetarypolicy.Whichofthefollowingtargetsrelatepredominantlytomonetarypolicy?IncreasingtaxControllingthegrowthinthesizeofthemoneysupplyReducingpublicexpenditureKeepinginterestrateslow1onlyandand42,3andGDP=C+I+GGDP=C+I+G+(X-Ex-2016/09Whichofthefollowinggovernmentactionswouldleadtoanincrease?A1IncreasingtaxationandkeepinggovernmentexpenditurethesameDecreasingtaxationandincreasinggovernmentexpenditureDecreasingmoneysupplyDecreasinginterestB1andC2and4D2,3and3hangeAlowerexchange3hangeAlowerexchangeDomesticgoodsarecheaperinforeignmarketssodemandforexportsincreases.Domesticgoodsaremoreexpensiveinforeignmarketssodemandforexportsfalls.Foreigngoodsaremoreexpensivesodemandforimportsfalls.Foreigngoodsarecheapersodemandforimportsangerates?angerates?Fixedexchangerates：AgovernmentmaytrytokeeptheexchangerateatafixedlevelagainstamajorcurrencysuchastheUSdollar,ormaytrytokeepitwithinaspecifiedvaluerange.Floatingexchangeratesareexchangerateswhichareallowedtofluctuateaccordingtodemandandsupplyconditionsintheforeignexchangemarkets.Managed(ordirty)floatingreferstoasystemwherebyexchangeratesareallowedtofloat,butfromtimetotimetheauthoritieswillinterveneintheforeignexchange??-Governments-GovernmentshaveanumberofeconomictargetsaspartoftheirfiscalWhichofthefollowinggovernmentactionsrelatepredominantlytofiscalDecreasinginterestratesinordertostimulateconsumerspendingReducingtaxationwhilemaintainingpublicspendingUsingofficialforeigncurrencyreservestobuythedomesticcurrencyBorrowingmoneyfromthecapitalmarketsandspendingitonpublicworks1onlyandand42,3andExWhichofExWhichofthefollowingstatementsis/areMonetarypolicyseekstoinfluenceaggregatedemandbyincreasingordecreasingthemoneyraisedthroughtaxationWhengovernmentsadoptafloatingexchangeratesystem,theexchangerateisanequilibriumbetweendemandandsupplyintheforeignexchangemarketFiscalpolicyseekstoinfluencetheeconomyandeconomicgrowthbyincreasingordecreasinginterestrates21and21and31,2and4ernaltrade4ernaltrade?Agovernmentmighthaveapolicyforpromotingeconomicgrowthbystimulatingexports;forexample,bymanagingtheexchangeratetomakeexportscheaperforforeignpurchasers.Anotherargumentisthatthereshouldbeimportcontrolstoprovidesomeformofprotectionfordomesticmanufacturingindustriesbymakingthecostofimportshigherandthevolumeofimportslower.Protectioncouldencouragedomesticoutputtorise,stimulatingthedomesticeconomy.?—拓—拓展提EquilibriumGDPEquilibriumGDPand Fourtypesof––––Long-runfullLong-runLong-runPhasesPhasesoftheBusinessRecessionaryRecessionaryRecessionaryRecessionary Causedbyadecreasein ActualGDP<PotentialUnemploymentrate>Natural PolicyDonothingsincethere’saself-correctingFiscalandmonetarypolicytoshiftADtotheTypesofTypesofFrictionalunemploymentresultsfromtimeittakesemployersandemployeestofindeachotherStructuralunemploymentresultsfromlong-termchangesintheeconomythatrequireworkerstogainnewskillstofillnewjobsCyclicalunemploymentresultsfromchangesineconomicInflationaryInflationaryInflationaryInflationary Causedbyanincreasein nActualGDP>PotentialGDPUnemploymentrate<NaturalnratePolicychoice: Donothingsincethere’saself-correcting FiscalandmonetarypolicytoshiftADtotheStagflationStagflation實戰(zhàn)實戰(zhàn)篇——中國宏觀經濟20年概國內生產總值(億元國內生產總值(億元0數據來源：國家統(tǒng)計指201820081999國內生產總值(億元社會消費品零售總社會消費品零售總額(億元社會消費品零售總社會消費品零售總額(億元0指201820081999社會消費品零售總額(億元y貨幣和準貨幣(M2)供應量(億元y貨幣和準貨幣(M2)供應量(億元0數據來源：國家統(tǒng)計指201820081999貨幣和準貨幣(M2)供應量(億元0數據0數據來源：國家統(tǒng)計指201820081999國內生產總值(億元貨幣和準貨幣(M2)供應量(億元財政收0指201820081999財政收入(億元財財政收0指201820081999財政收入(億元財政支出(億元國內生產總值(億元31085億美元III.III.1Rgulation1Rgulationandmarket?ImperfectWhereonecompany'slargeshareorcompletedominationofthemarketisleadingtoinefficiencyorexcessiveprofits,thestatemayintervene,forexamplethroughcontrolsonpricesorprofits,inordertotrytoreducetheeffectsofthispower.SocialApossiblemeansofdealingwiththeproblemofsocialcostsorexternalitiesisviasomeformofregulation.Regulationsmightinclude,forexample,controlsonemissionsofpollutants,restrictionsoncaruseinurbanareas,thebanningofsmokinginpublicbuildings,orcompulsorycarinsurance.??Imperfect?ImperfectRegulationisoftenthebestformofgovernmentactionwheneverinformationalinadequaciesareunderminingtheefficientoperationofprivatemarkets.Thisisparticularlysowhenconsumerchoiceisbeingdistorted.TheGovernmentmayalsoresorttoregulationimprovesocial?Ex-Ex-Whichofthefollowingis/areusuallyseenasformsofmarketfailurewhereregulationmaybeasolution?ImperfectSocialcostsorexternalities3Imperfectinformation1and2and31,2and2Competitionpolicy2Competitionpolicy-Ina,thereisonlyonefirminthemarket,thesoleproducerofawhichhasnocloselycompetingAmonopolysituationcanhavesomeIncertainindustriesarguablyonlybyachievingamonopolywillacompanybeabletobenefitfromthekindsofeconomiesofscaleEstablishingamonopolymaybethebestwayforabusinesstomaximiseitsHowever,monopoliesoftenhaveseveraladverseCompaniescanimposehigherpricesonThelackofincentiveofcompetitionmaymeancompanieshavenoincentivetoimprovetheirproductsorofferawiderrangeofproducts.Thereisnopressureonthecompanytoimprovetheefficiencyofitsuseof2C2Competitionpolicy-TheCompetitionandMarketsAuthoritycanalsobeaskedtoinvestigatewhatcouldbecalled'oligopolysituations'involvingexplicitorimplicitcollusionbetweenfirms,whotogethercontrolthemarket.AprospectivemergerbetweentwoormorecompaniesmaybereferredtotheCompetitionandMarketsAuthorityforinvestigationifalargercompanywillgainmorethan25%marketshareEx-WhichEx-Whichofthefollowingstatementsrelatingtocompetitionpolicyis/arecorrect?ScaleeconomiesareanadvantageofmonopolyandSocialcostsorexternalitiesareanexampleofeconomicinefficiencyarisingfrommarketfailureMonopolyisdiscouragedbecauseitcanleadtoinefficiencyandexcessiveprofits1and232and31,2and 1, 1,2andAllthreestatementsareEx-Ex-2016/1212.Indicate,byclickingontherelevantboxes,whetherthefollowingstatementsaretrueorfalse?Itistruethatagovernmentmayintervenetoweakenitsco