宏觀經濟學期末考試試卷1附答案教學提綱

1、 effects on growth. ) 30 分選擇題一、 (每小題 1 分，共This is an inward-oriented policy which most economists believe have beneficial effects on b. 得 分growth. 評卷人This is an outward-oriented policy which most economists believe have adverse effects on growth. c. This is an outward-oriented policy which most econ

2、omists believe have beneficial effects on d. growth. The government reports that GDP increased by 1.6 percent in the last quarter. This 1statement means that GDP increased Generally when economists and the text talk of the interest rate, they are talking about the 6by 6.4 percent for the year. a. re

3、al interest rate. a. at an annual rate of 6.4 percent during the last quarter. b. current nominal interest rate. b. at an annual rate of 1.6 percent during the last quarter. c. real interest rate minus the inflation rate. c. at an annual rate of .4 percent during the last quarter. d. equilibrium nom

4、inal interest rate. d. A Brazilian company produces soccer balls in the United States and exports all of 2An increase in the budget deficit 7them. If the price of the soccer balls increases, the GDP deflator makes investment spending fall. a. and the CPI both increase. a. makes investment spending r

5、ise. b. is unchanged and the CPI increases. b. does not affect investment spending. c. increases and the CPI is unchanged. c. may increase, decrease, or not affect investment spending. d. and the CPI are unchanged. d. Norne Corporation is considering building a new plant. It will cost them $1 millio

6、n today to build it and 8The price of CD players increases dramatically, causing a 1 percent increase in the 3it will generate revenues of $1,121 million three years from today. Of the interest rates below, which is the CPI. The price increase will most likely cause the GDP deflator to increase by h

7、ighest interest rate at which Norne would still be willing to build the plant? more than 1 percent. a. 3 percent a. less than 1 percent. b. 3.5 percent b. 1 percent. c. 4 percent c. It is impossible to make an informed guess without more information. d. 4.5 percent d. A nations standard of living is

8、 measured by its 4Recent entrants into the labor force account for about 9real GDP. a. 1/2 of those who are unemployed. Spells of unemployment end about 1/5 of the time with people a. real GDP per person. b. leaving the labor force. nominal GDP. c. 1/3 of those who are unemployed. Spells of unemploy

9、ment end about 1/2 of the time with people b. nominal GDP per person. d. leaving the labor force. 1/4 of those who are unemployed. Spells of unemployment end about 1/2 of the time with people c. In 2002 President Bush imposed restrictions on imports of steel to protect the U.S. 5leaving the labor fo

10、rce. steel industry. 1/4 of those who are unemployed. Spells of unemployment end about 1/5 of the time with people d. This is an inward-oriented policy which most economists believe have adverse a. leaving the labor force c. leaves the standard of living unchanged. d. raises the standard of living f

11、or importing countries and lowers it for exporting countries. Which of the following best illustrates the unit of account function of money? 1015You list prices for candy sold on your Web site, , in Which of the following would be U.S. foreign portfolio investment? a. dollars. a. D

12、isney builds a new amusement park near Rome, Italy. b. b. You pay for your WNBA tickets with dollars. Your economics professor buys stock in companies located in Eastern European countries. You keep $10 in your backpack for emergencies. c. A Dutch hotel chain opens a new hotel in the United States.

13、c. d. d. None of the above is correct. A citizen of Singapore buys a bond issued by a U.S. corporation. 1611Current U.S. currency is A Venezuelan firm purchases earth-moving equipment from a U.S. company and pays for it with domestic currency. This transaction fiat money with intrinsic value. a. a.

14、fiat money with no intrinsic value. increases U.S. net exports, and increases Venezuelan net capital outflow. b. c. commodity money with intrinsic value. b. increases U.S. net exports, and decreases Venezuelan net capital outflow. c. d. commodity money with no intrinsic value. decreases U.S. net exp

15、orts, and increases Venezuelan net capital outflow. d. decreases U.S. net exports, and decreases Venezuelan net capital outflow. Velocity in the country of Shem is always stable. In 2002, the money supply was 1217$200 billion and the GDP price deflator was four times as high as it was in the base ye

16、ar. At the equilibrium interest rate in the open economy macroeconomic model, the amount that people want to save equals the desired quantity of In 2003, the money supply increased to $240 billion, the price level increased by 15 percent, and nominal GDP equaled $1,200 billion. By how much did real

17、GDP increase a. net capital outflow. b. between 2002 and 2003? domestic investment. a. 20 percent c. net capital outflow plus domestic investment. b. d. 4.35 percent foreign currency supplied. 2.17 percent c. 18In an open economy, There is not enough information to answer the question. d. a. net cap

18、ital outflow = imports. 13Shoeleather costs refer to b. net capital outflow = net exports. c. net capital outflow = exports. the cost of more frequent price changes induced by higher inflation. a. the distortion in resource allocation created by distortions in relative prices due d. None of the abov

19、e is correct. b. to inflation. 19In the open-economy macroeconomic model, the real exchange rate is determined in the market where resources used to maintain lower money holdings when inflation is high. c. dollars are exchanged for foreign currency by the equality of the supply of dollars, which com

20、es from the distortion in incentives created by inflation by taxes that do not adjust for d. a. U.S. national saving and the demand for dollars for U.S. net exports. inflation. b. U.S. net capital outflow and the demand for dollars for U.S. net exports. 14c. domestic investment and the demand for U.

21、S. net exports. International trade foreign demand for U.S. goods and U.S. demand for foreign goods. a. d. raises the standard of living in all trading countries. lowers the standard of living in all trading countries. b. 20If a government increases its budget deficit, then interest rates c. a decre

22、ase in the price level d. a decrease in the money supply a. rise and the trade balance moves toward surplus. rise and the trade balance moves toward deficit. b. 26If the Fed conducts open-market sales, the money supply fall and the trade balance moves toward surplus. c. a. increases and aggregate de

23、mand shifts right. fall and the trade balance moves toward deficit. d. b. increases and aggregate demand shifts left. c. Investment spending decreases when the price level decreases and aggregate demand shifts right. 21 rises causing interest rates to rise. a. d. decreases and aggregate demand shift

24、s left. rises causing interest rates to fall. b. 27Some economists argue that falls causing interest rates to rise. c. a. monetary policy should actively be used to stabilize the economy. falls causing interest rates to fall. d. b. fiscal policy should actively be used to stabilize the economy. c. f

25、iscal policy can be used to shift the AD curve. An increase in the price level and a decrease in real GDP in the short run could be 22 d. created by All of the above are correct. an increase in the money supply. a. 28The lag problem associated with monetary policy is due mostly to an increase in gov

26、ernment expenditures. b. a. the fact that business firms make investment plans far in advance. a fall in stock prices. c. b. the political system of checks and balances that slows down the process of determining monetary bad weather in farm states. d. policy. c. Which part of real GDP fluctuates mos

27、t over the course of the business cycle? 23the time it takes for changes in government spending to affect the interest rate. d. a. consumption All of the above are correct. government expenditures b. 29A. W. Phillips findings were based on data investment c. a. from 1861-1957 for the United Kingdom.

28、 net exports d. b. from 1861-1957 for the United States. 24According to liquidity preference theory, the price level and interest rate are c. mostly from the post-World War II period in the United Kingdom. a. d. mostly from the post-World War II period in the United States. positively related as are

29、 the interest rate and aggregate demand. inversely related as are the interest rate and aggregate demand. b. 30Which of the following is true concerning the long-run Phillips curve? positively related while the interest rate and aggregate demand are inversely c. a. Its position is determined primari

30、ly by monetary factors. related. b. If it shifts right, long-run aggregate supply shifts right. inversely related while the interest rate and aggregate demand are positively d. c. It cannot be changed by any government policy. related. d. its position depends on the natural rate of unemployment. 25W

31、hich of the following shifts aggregate demand to the right? an increase in the price level a. an increase in the money supply b. ) 分分，共 20 二、判斷題(每小題 1 specific firms and industries. 分得 If speculators bid up the value of the dollar in the market for foreign-currency exchange, aggregate 44 評卷人demand w

32、ould shift to the left. In response to a decrease in output the economy would revert to its original level of prices and output 45The government component of GDP includes salaries paid to Army generals but not 31whether the decrease in output was caused by a decrease in aggregate demand or a decreas

33、e in aggregate Social Security benefits to the elderly. supply. An increase in the saving rate does not permanently increases the growth rate of real 32John Maynard Keynes advocated policies that would increase aggregate demand as a way to decrease 46GDP per person. unemployment caused by recessions

34、. In ten years when you are the owner of a major U.S. corporation, if your corporation 33An increase in the money supply shifts the aggregate supply curve right. 47opens and operates a branch in a foreign country you will be engaging in foreign direct Unemployment insurance and welfare programs work

35、 as automatic stabilizers. investment. 48In the long run, the inflation rate depends primarily on money supply growth. Corporations receive no proceeds from the resale of their stock. 3449Although monetary policy cannot reduce the natural rate of unemployment, other types of policies can. 5035Accord

36、ing to the rule of 70, if you earn an interest rate of 3.5 percent, your savings will double about every 20 years. ) 10 分每小題 2分，共(三、名詞解釋The value of a stock depends on the ability of the company to generate dividends 36 得 分and the expected price of the stock when the stockholder sells her shares. 評卷

37、人 A minimum wage above equilibrium creates a labor surplus. 37catch-up effect: 51According to the theory of efficiency wages, firms operate more efficiently if they 38depreciation: 52can pay wages that are below the equilibrium level. capital flight: 53The use of money allows trade to be roundabout.

38、 39recession: 54automatic stabilizers: 55The quantity theory of money can explain hyperinflations but not moderate 40inflation. ) 30 分 5( 8簡答題題中任選6題；每小題分，共四、 得 分In every economy, national saving equals domestic investment plus net capital 41outflow. 評卷人In the open-economy macroeconomic model, net ex

39、ports represent the quantity of 42Compare and contrast the population theories of Malthus and Kremer. 56dollars demanded in the foreign-currency exchange market. Using a graph representing the market for loanable funds, show and explain what happens to interest 57Although trade policies do not affec

40、t a countrys overall trade balance, they do affect 43rates and investment if a government goes from a deficit to a surplus. 58Which two of the Ten Principles of Economics imply that the Fed can profoundly President Roosevelt proclaimed that Thanksgiving would fall a week earlier than usual so that t

41、he shopping period before Christmas would be longer. Explain this decision, using the model of aggregate demand and affect the economy? aggregate supply. The U.S. Treasury Department issues inflation-indexed bonds. What are 59 inflation-indexed bonds and why are they important? Make a list of things

42、 that would shift the long-run aggregate supply curve to the 60right. Illustrate the classical analysis of growth and inflation with aggregate demand and 61 long-run aggregate supply curves. How does a reduction in the money supply by the Fed make owning stocks less 62 attractive? Why and in what wa

43、y are fiscal policy lags different from monetary policy lags? 63 10 共分，1題中任選題；每小題 10 (2五、討論題 )分 宏觀經濟學答題紙 評卷人 總分 二三 四五 題號一64. Suppose government spends $3 billion to buy police cars. Explain why aggregate 得 分 demand might increase by more than $3 billion. Explain why aggregate demand might increase b

44、y less than $3 billion. 65. In 1939, with the U.S. economy not yet fully recovered from the Great Depression, ) 分 1 分，共 30 一、選擇題 (每小題depreciation: 52 得分 評卷人 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. capital flight: 53 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. recession: 54

45、 1 ”T；錯誤用“每小題”；F(二、判斷題正確用“ 分得 ) 分分，共 20 評卷人 automatic stabilizers: 5531. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 分；答題時分，共 30 6簡答題( 8題中任選題；每小題 5四、 得 分) 請標明題號 評卷人) 分，共 2(名詞解釋三、每小題分 10 得 分 評卷人 catch-up effect: 51 分；答題時請 10 分，共題中任選 (21題；每小題 10 討論題五、 )標明題評卷人 宏觀經濟學試卷A參考

46、答案 c 2.c 3.d 4.b 5.a 6.a 7.a 8.b 9.b 10.a 11.b 12.b 13.c 14.a 15.b 16.c 18.b 19.b 20.b 21.a 22.d 23.c 24.c b 17.1. 25.b 26.d 27.d 28.a 29.a 30.d 31.T 32.T 33.T 34.T 35.T 36.T 37.T 38.F 39.T 40.F 41.T 42.T 43.T 44.T 45.F 46.T 47.F 48.T 49.T 50.T 51.the property whereby contries that start off poor te

47、nd to grow more rapidly than countries that start off rich. a decrease in the value of a currency as measured by the amount of foreign currency it can buy. 52. a large and sudden reduction in the demand for assets located in a country. 53.a period of declining real incomes and rising unemployment. 5

48、4. changes in fiscal policy that stimulate aggregate demand when the economy goes into a recession 55.without policymakers having to take any deliberate action. They are important because they provide a safe, inflation-proof asset for savers and they may allow the Treasury to borrow more easily at a

49、 lower current cost. 56.The difference is that Malthus predicted that population growth would be greater 60. Examples in the text (or variations) include increased immigration, a decrease in the minimum wage, than growth in the ability to increase output. He believed that people would continue to mo

50、re generous unemployment insurance, an increase in the capital stock, an increase in the average level of populate the earth until output reached a subsistence level. On the other hand Kremer education, a discovery of new mineral deposits, technology, and removal of barriers to international trade.

51、argues that population growth increased productivity allowing people to improve their standard of living despite growing population. Kremer argues that with more population 61.See graph. comes more innovations. The improvements in technology more than offset any adverse impact of the increase in pop

52、ulation on the standard of living. 57. As shown in the graph below, the economy starts in equilibrium at point E0 with interest rate r0 and equilibrium quantity of saving and investment at q0. If the government succeeds in obtaining a surplus, there will be more public saving in the economy at each

53、interest rate, and the supply of loanable funds curve will shift from S0 to S1. The new equilibrium will be at E1, with a lower interest rate, r1 and a higher quantity of saving and investment, q1. Hence, if the federal government succeeds in having a surplus, interest rates will fall and investment will increase. Over time technological advances cause the long-run aggregate supply curv