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宏观经济学期末考试试卷1附答案教学提纲

effects on growth.

) 30 分选择题一、 (每小题 1 分，共This is an inward-oriented policy which most economists believe have beneficial effects on b. 得分growth.

评卷人This is an outward-oriented policy which most economists believe have adverse effects on growth. c.

This is an outward-oriented policy which most economists believe have beneficial effects on d. growth.

The government reports that GDP increased by 1.6 percent in the last quarter. This 1．statement 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. real interest rate.

at an annual rate of 6.4 percent during the last quarter. b. current nominal interest rate.

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 nominal interest rat

A Brazilian company produces soccer balls in the United States and exports all of 2．An increase in the budget deficit 7．them. 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 rise. b.

is unchanged and the CPI increases. b. does not affect investment spending.

increases and the CPI is unchanged. c. may increase, decrease, or not affect investment spending.

and the CPI are unchanged.

d. Norne Corporation is considering building a new plant. It will cost them $1 million 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 highest 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

A nation's standard of living is 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 unemploye

d. Spells of unemployment end about 1/2 of the time with people b.

nominal GDP per person.

d. leaving the labor forc

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.

5．leaving the labor force.

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

leaving the labor force

c. leaves the standard of living unchange

d. raises the standard of living for importing countries and lowers it for exporting countries.

Which of the following best illustrates the unit of account function of money? 10．15You list prices for candy sold on your Web site, https://www.wendangku.net/doc/758556959.html,, in ．Which of the following would be U.S. foreign portfolio investment? a.

dollars.

a. Disney 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. c.

d. d. None of the above is correct.

A citizen of Singapore buys a bond issued by a U.S. corporation.

1611．Current 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. fiat money with no intrinsic value. increases U.S. net exports, and increases Venezuelan net capital outflow.

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 exports, 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 12．17．$200 billion and the GDP price deflator was four times as high as it was in the base year. 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 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. 18．In an open economy, There is not enough information to answer the question.

d. a. net capital 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 above is correct.

to inflation.

19．In 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 comes 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.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.

20．If a government increases its budget deficit, then interest rates c. a decrease 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. 26．If the Fed conducts open-market sales, the money supply fall and the trade balance moves toward surplus. c. a. increases and aggregate demand 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 shifts left.

rises causing interest rates to fall. b. 27．Some 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. fiscal 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. 28．The lag problem associated with monetary policy is due mostly to an increase in government 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 most over the course of the business cycle? 23．the 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. 29．A. W. Phillips' findings were based on data investment c. a. from 1861-1957 for the United Kingdom. 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 the interest rate and aggregate demand.

inversely related as are the interest rate and aggregate demand.

b. 30．Which 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 primarily by monetary factors. relate

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. relate

d. its position depends on the natural rate of unemployment.

25．Which 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、判断题(每小题 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评卷人demand would 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 decrease 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.

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 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.

34．49Although monetary policy cannot reduce the natural rate of unemployment, other types of policies can. ．5035．According to the rule of 70, if you earn an interest rate of 3.5 percent, your savings

will double about every 20 years.

)

10 分每小题 2分，共(三、名词解释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.

评卷人 A minimum wage above equilibrium creates a labor surplus.

37．catch-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.

39．recession:

．54automatic stabilizers: 55．The quantity theory of money can explain hyperinflations but not moderate ．40inflation.

)

30 分 5( 8简答题题中任选6题；每小题分，共四、得分In every economy, national saving equals domestic investment plus net capital

．41outflow.

评卷人In the open-economy macroeconomic model, net exports represent the quantity of 42．Compare and contrast the population theories of Malthus and Kremer.

56．dollars demanded in the foreign-currency exchange market.

Using a graph representing the market for loanable funds, show and explain what happens to interest 57．Although trade policies do not affect a country's overall trade balance, they do affect

43．rates and investment if a government goes from a deficit to a surplus.

58．Which 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 the 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 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 way are fiscal policy lags different from monetary policy lags? 63．

10 共分，1题中任选题；每小题 10 (2五、讨论题)分《宏观

经济学》答题纸评卷人

总分二三四五题号一64. 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 by 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、选择题 (每小题depreciation: 52．得分评卷人

1. 2. 3. 4. 5.

6. 7. 8. 9. 10. capital

flight: ．5311. 12.

13. 14. 15.

16. 17. 18. 19. 20.

21. 22. 23. 24. 25.

26. 27. 28. 29. 30.

recession: ．54

1 ”T；错误用“每小题”；F(二、判断题正确用“分得

) 分分，共 20 评卷人

automatic stabilizers:

55．31. 32. 33. 34. 35.

36. 37. 38. 39. 40.

41. 42. 43. 44. 45.

46. 47. 48. 49. 50.

分；答题时分，共 30 6简答题( 8题中任选题；每小题 5四、得分)

请标明题号

评卷人)

分，共 2(名词解释三、每小题分 10 得分

评卷人

catch-up effect: 51．

分；答题时请 10 分，共题中任选 (21题；每小题 10 讨论题五、)标明题评卷人