宏觀經(jīng)濟(jì)學(xué)期末考試試卷4(附答案)

1、得分一、 請(qǐng)單擊此處編輯題目 (每小題分，共分)評(píng)卷人一、選擇題 ( 本題包含 30小題，每題？分，共？分)1 Suppose GDP consists of wheat and rice. In 2002, 20 bushels of wheat are sold at $4 per bushel, and 10 bushels of rice are sold at $2 per bushel. If the price of wheat was $2 per bushel and the price of rice was $1 per bushel in 2001, the base

2、year, nominal 2002 GDP isa. $100, real 2002 GDP is $50, and the GDP deflator is 50.b. $50, real 2002 GDP is $100, and the GDP deflator is 200.c. $100, real 2002 GDP is $50, and the GDP deflator is 200.d. $40, real 2002 GDP is $100, and the GDP deflator is 50.2The CPI is a measure of the overall cost

3、 ofa. inputs purchased by a typical producer.b. goods and services bought by a typical consumer.c. goods and services produced in the economy.d. stocks on the New York Stock Exchange.3The price of imported athletic shoes produced by a U.S. company operating in Thailandincreases. By itself what effec

4、t will this change have on the GDP deflator and on the CPI?a. The GDP deflator and the CPI will both increase.b. The GDP deflator will increase and the CPI will be unaffected.c. The GDP deflator and the CPI will both be unaffected.d. The GDP deflator will be unaffected and the CPI will increase.4Whi

5、ch of the following is a part of your Economics professors human capital?a. the things she learned at some prestigious universityb. her copy of Mankiws textc. her chalk holderd. All of the above are correct.5Which of the following is consistent with the catch-up effect?a. The United States had a hig

6、her growth rate before 1900 than after.b. After World War II the United States had lower growth rates than war-ravagedEuropean countries.c. Although the United States has a relatively high level of output per person, its growth rate is rather modest compared to some countries.d. All of the above are

7、 correct.6 Which of the following is correct?a. Stocks, bonds, and deposits are all similar in that each provides a medium of exchangeb. Banks lend mostly to large and familiar companies rather than smaller local firms.c. Banks charge borrowers a slightly lower interest rate than they pay to deposit

8、ors.d. None of the above are correct.7 Index fundsa. typically have about the same rate of return as more actively managed funds.b. typically have lower rates of return than more actively managed funds.c. contain the stocks and bonds from a single Standard Index Classification of industry.d. typical

9、ly have higher rates of return than more actively managed funds.8 Three people go to the bank to cash in their accounts. April had her money in an account for 25 years at 4percent interest. Ben had his money in an account for 20 years at 5 percent interest. Cathy had her money inan account for five

10、years at 20 percent interest. If each of them originally deposited $500 in their accounts, which of them gets the most money when they cash in their accounts?a. Aprilb. Benc. Cathyd. They each get the same amount.9 The reported unemployment rate should be viewed asa. a useful but imperfect measure o

11、f joblessness.b. clearly smaller than the true unemployment rate.c. clearly larger than the true unemployment rate.d. being very close to the true unemployment rate.10Commodity money isa. backed by gold.b. the principal type of money in use today.c. money with intrinsic value.d. receipts created in

12、international trade that are used as a medium of exchange.11 Which list contains only actions that decrease the money supply?a. raise the discount rate, make open market purchasesb. raise the discount rate, make open market salesc. lower the discount rate, make open market purchasesd. lower the disc

13、ount rate, make open market sales12 According to the classical dichotomy, which of the following is influenced by monetaryfactors?a. the real wageb. the real interest ratec. the nominal waged. All of the above are correct.13 Which of the following statements is NOT true?a. Inflation reduces the purc

14、hasing power of most workers.b. Given the current U.S. tax structure, inflation reduces the incentive to save.c. The inflation tax causes deadweight loss because people waste scarce resources trying to avoid it.d. Countries with high rates of inflation usually also have volatile rates of inflation.1

15、4 A German company sells cameras to a retailer in the United States. These sales bythemselvesa.have no affect on U.S. net exports and increase German net exports.b.decrease U.S. net exports and increase German net exports.c.increase U.S. and German net exports.d.increase U.S. net exports and decreas

16、e German net exports.15 If the nominal exchange ratee is foreign currency per dollar, the domestic price isP, andthe foreign price isP*, the real exchange rate is defined asa.e(P*/ P).b.e(P/ P*).c.e + P/ P.d.e - P/ P*.16When a countrys central bank increases the money supply, itsa. price level rises

17、 and its currency appreciates relative to other currencies in the world.b. price level rises and its currency depreciates relative to other currencies in the world.c. price level falls and its currency appreciates relative to other currencies in the world.d. price level falls and its currency deprec

18、iates relative to other currencies in the world.17In the open-economy macroeconomic model, if a countrys interest rate increases, its net capital outflowa. and the real exchange rate increase.b. and the real exchange rate decrease.c. increases and the real exchange rate decreases.d. decreases and th

19、e real exchange rate increases.18If the government started with a budget deficit and moved to a surplus, domestic investment woulda. rise and the trade balance would move towards surplus.b. rise and the trade balance would move towards deficit.c. fall and the trade balance would move towards surplus

20、.d. fall and the trade balance would move towards deficit.19If the United States imposes an import quota on clothing, U.S. exportsa. increase, U.S. imports increase, and U.S. net exports are unchanged.b. increase, U.S. imports decrease, and U.S. net exports increase.c. decrease, U.S. imports increas

21、e, and U.S. net exports decrease.d. decrease, U.S. imports decrease, and U.S. net exports are unchanged.20In 1995 House Speaker Newt Gingrich threatened to send the United States into default on its debt. Duringthe day of this announcement, U.S. interest rates rose and the real exchange rate of the

22、U.S. dollar depreciated. Which of these changes is consistent with the results of the open-economy macroeconomic model?a. the increase in U.S. interest ratesb. the depreciation of the real exchange rate of the U.S. dollarc. Both of the above are consistent.d. Neither of the above are consistent.21A

23、rise in the economys overall level of prices tends toa. raise both the quantity demanded and supplied of goods and services.b. raise the quantity demanded of goods and services, but lower the quantity supplied.c. lower the quantity demanded of goods and services, but raise the quantity supplied.d. l

24、ower both the quantity demanded and the quantity supplied of goods and services.22 When taxes increase, consumption decreases as shown bya. a movement to the left along a given aggregate demand curve.b. shifting aggregate demand to the left.c. shifting aggregate supply the left.d. which does none of

25、 the above.23 Which of the following would cause prices and real GDP to rise in the short run?a. an increase in the expected price levelb. an increase in the money supplyc. a decrease in the capital stockd. None of the above is correct.24 Which of the following shifts money demand to the left?a. an

26、increase in the price levelb. a decrease in the price levelc. an increase in the interest rated. a decrease in the interest rate25 According to liquidity preference theory if the price level increases, the equilibriuminterest ratea. rises so that the aggregate quantity of goods demand rises.b. rises

27、 so that the aggregate quantity of goods demanded falls.c. falls so that the aggregate quantity of goods demanded rises.d. falls so that the aggregate quantity of goods demanded falls.26 In the long run, fiscal policy primarily affectsa. aggregate demand. In the short run, it affects primarily aggre

28、gate supply.b. aggregate supply. In the short run, it affects primarily saving, investment, and growthc. saving, investment, and growth. In the short run, it affects primarily aggregate demand.d.saving, investment, and growth. In the short run, it affects primarily aggregate supply.27If the MPC is 0

29、, the multiplier isa. 0.b. 1.c. infinite.d. None of the above is correct.28The economy is in long-run equilibrium. Immigration of skilled workers shifts the long-run aggregate supplycurve $60 billion to the right. At the same time, government purchases increase by $30 billion. If the MPCequals 0.8 a

30、nd the crowding-out effect is $90 billion, we would expect that in the long-run,a. both real GDP and the price level would be higher.b. both real GDP and the price level would be lower.c. real GDP would be higher but the price level would be lower.d. real GDP would be higher but the price level woul

31、d be the same.29Over the last ten years Canada and many European countries have had higher average unemployment ratesthan the United States. This suggests that these countriesa. have higher average inflation rates than the United States.b. have long-run Phillips curves to the right of the United Sta

32、tess.c. may have less generous unemployment compensation or lower minimum wages.d. All of the above are consistent with the evidence on unemployment rates.30A favorable supply shock will cause the short-run Phillips curve to shifta. right and unemployment to rise.b. right and unemployment to fall.c.

33、 left and unemployment to rise.d. left and unemployment to fall.二、判斷題 ( 本題包含 20小題，每題？分，共？分)31When a Chinese citizen works temporarily in the United States, her production is a part of U.S. GDP.32Changes in the prices of most natural resources compared to other goods indicate that natural resources a

34、re generally becoming scarcer.33Constant returns to scale is the point on a production function where increasing inputs will no longer increaseoutput.34When the government runs a budget deficit, national saving is reduced, interest rates rise,and investment falls.35 According to the rule of 70, if y

35、ou earn an interest rate of 3.5 percent, your savings willdouble about every 20 years.36 Risk-averse persons will take no risks.37 Someone who is without work but is not looking for work would be counted asunemployed by the BLS.38 The unemployment rate reported by the BLS clearly understates the tru

36、e unemploymentrate.39 M1 includes savings deposits.40 When the value of money is on the vertical axis, an increase in the price level shiftsmoney demand to the right.41 U.S. exports make up less than 20 percent of GDP.42 The key determinant of net capital outflow is the real exchange rate.43 When a

37、country imposes a trade restriction, the real exchange rate of that countryscurrency appreciates.44 Like real GDP, investment fluctuates, but investment fluctuates by a larger percentage.45 When output rises, unemployment falls.46 An unexpected increase in the price level does not shift the aggregat

38、e supply curve, butan expected increase in the price level shifts the aggregate supply curve to the left.47 If inflation is zero, then the nominal and real interest rate are the same.48 The multiplier is found asMPC /(1 -MPC ).49 If the Fed were to increase the money supply, inflation and unemployme

39、nt would bothincrease in the short run.50 The sacrifice ratio is the percentage point increase in the unemployment rate created inthe process of reducing inflation by one percentage point.三、名詞解釋 ( 本題包含 5小題，每題？分，共？分)51technological knowledge:52trade deficit:53trade policy:54recession:55automatic stab

40、ilizers:四、簡(jiǎn)答題 ( 本題包含 8小題，每題？分，共？分)56Compare and contrast the population theories of Malthus and Kremer.57Your brother-in-law wants to buy either stock or bonds in Cedar Valley Furniture, but he isnt sure whether tobuy the stock or bonds. Explain how each of his quotes below should affect his choice

41、between the stock and the bond.a. I have reason to believe that people are soon going to find rocking chairs have health benefits.b. I would like to tell people I am part owner of Cedar Valley Furniture.c. I do not want to take on much risk.58Are credit cards and debit cards money? Whats the differe

42、nce between credit and debit cards?59Suppose that monetary neutrality holds. Of the following variables, which ones do not change when themoney supply increases?a. real interest ratesb. inflationc. the price leveld. real outpute. real wagesf. nominal wages60The long-run trend in real GDP is upward.

43、How is this possible given business cycles? What explains theupward trend?61What variables besides real GDP tend to decline during recessions? Given the definition of real GDP, arguethat declines in these variables are to be expected.62Suppose that consumers become pessimistic about the future healt

44、h of the economy, and so cut back on theirconsumption spending. What will happen to aggregate demand and to output? What might the presidentand Congress have to do to keep output stable?63 Explain how unemployment insurance acts as an automatic stabilizer.參考答案1. c 2.b 3.d 4.a 5. d 6.d 7.d 8.a 9.a 10

45、.c 11.b 12.c 13.a 14.b 15.b 16.b 17.d 18.a 19.d 20.c 21.c 22.b 23.b 24.b 25.b 26.c 27.b 28.d 29.b 30.d31.T 32.F 33.F 34.T 35.T 36.F 37.F 38.F 39.F 40.F 41.T 42.F 43.T 44.T 45.T 46.T 47.T48.F 49.F 50.F51.societys understanding of the best ways to produce goods and services.52. an excess of imports ov

46、er exports.53. a government policy that directly influences the quantity of goods and services thata country imports or exports.54. a period of declining real incomes and rising unemployment.55. changes in fiscal policy that stimulate aggregate demand when the economy goesinto a recession without po

47、licymakers having to take any deliberate action.56. The difference is that Malthus predicted that population growth would be greater thangrowth in the ability to increase output. He believed that people would continue to populate the earth until output reached a subsistence level. On the other hand

48、Kremer argues that population growth increased productivity allowing people to improve their standard of living despite growing population. Kremer argues that with more population comes more innovations. The improvements in technology more than offset any adverse impact of the increase in population

49、 on the standard of living.57. a. Presumably, when this happens, unless everyone else has anticipated it, dividends, the price of the stock, or both will increase. The interest rate on bonds will not change as profits increase, so this quote suggests buying stock would better suit your brother-in la

50、ws purposes.b. Bondholders are simply creditors, while stockholders are part owners. So this quote indicates your brother-in-law would prefer to buy stock.c. In case of financial difficulties stockholders get paid after bondholders, so the stock is somewhat more risky. So, your brother-in-law may prefer the bond.