宏觀經濟學期末考試試卷5(附答案)

得分評卷人一、MacroButtonNoMacro[請單擊此處編輯題目](每題分，共分)一、選擇題(此題包含30小題，每題？分，共？分)1．Robertworksasalawyer. a. GDPcomputationsshouldbemadeusinghisincomefromprovidinglegalservices,nothisproductionoflegalservices. b. GDPcomputationsshouldbemadeusinghisproduction,nothisincomefromprovidinglegalservices. c. GDPcomputationsshouldincludebothhisincomeandhisproduction. d. GDPcomputationsshouldincludeeitherhisincomeorhisproduction,butnotboth.2．Thestepsinvolvedincalculatingtheconsumerpriceindexinclude,inorder: a. chooseabaseyear,fixthebasket,computetheinflationrate,computethebasket'scost,andcomputetheindex. b. chooseabaseyear,findtheprices,fixthebasket,computethebasket'scost,andcomputetheindex. c. fixthebasket,findtheprices,computethebasket'scost,chooseabaseyearandcomputetheindex. d. fixthebasket,findtheprices,computetheinflationrate,chooseabaseyearandcomputetheindex.3．AGermanautomobilecompanyproducescarsintheUnitedStates,someofwhichareexportedtoothernations.Ifthepriceofthesecarsincreases,theGDPdeflator a. andtheCPIwillbothincrease. b. willincreaseandtheCPIwillbeunchanged. c. willbeunchangedandtheCPIwillincrease. d. andtheCPIwillbothbeunchanged.4．Supposethattherearediminishingreturnstocapital.SupposealsothattwocountriesarethesameexceptonehaslesscapitalandsolessrealGDPperpersonthantheother.Finally,supposethatthesavingrateinbothcountriesincreasesfrom5percentto6percent.Overthenexttenyearswewouldexpectthat a. thegrowthratewillnotchangeineithercountry. b. thecountrywithlesscapitalwillgrowfaster. c. thecountrywithmorecapitalwillgrowfaster. d. bothcountrieswillgrowatthesamerate.5．RealGDPperperson a. minusrealGDPperpersonfromthepreviousperiodequalsthegrowthrateofrealGDPperperson. b. providesmoremeaningfulcomparisonsacrosstimeandcountriesthanrealGDP. c. ispopulationdividedbyGDP. d. Alloftheabovearecorrect.6．Whichofthefollowingiscorrect? a. Lenderssellbondsandborrowersbuythem. b. Long-termbondsusuallypayalowerinterestratethandoshort-termbondsbecauselong-termbondsareriskier. c. Junkbondsrefertobondsthathavebeenresoldmanytimes. d. Noneoftheabovearecorrect.7．Municipalbondspaya a. lowrateofinterestbecauseoftheirhigh-defaultriskandbecausetheinteresttheypayissubjecttofederalincometax. b. lowrateofinterestbecauseoftheirlow-defaultriskandbecausetheinteresttheypayisnotsubjecttofederalincometax. c. highrateofinterestbecauseoftheirhigh-defaultriskandbecausefederaltaxesmustbepaidontheinteresttheypay. d. highrateofinterestbecauseoftheirlow-defaultriskandbecausetheinteresttheypayisnotsubjecttofederalincometax.8．Whichofthefollowinggamesmightarisk-aversepersonbewillingtoplay? a. Agamewhereshehasa50percentchanceofwinning$1anda50percentchanceoflosing$1. b. Agamewhereshehasa60percentchanceofwinning$1anda40percentchanceoflosing$1. c. Bothoftheabove. d. Neitheroftheabove.9．TheBLSrecentlyreportedthattherewere48.6millionpeopleoverage25whohadatleastabachelor'sdegree.Ofthisnumber,38.0millionwereinthelaborforceand36.9millionwereemployed.Whatwasthelabor-forceparticipationrateandtheunemploymentrateforthisgroup? a. about97percentandabout2.9percent b. about97percentandabout2.3percent c. about78percentandabout2.9percent d. about78percentandabout2.3percent10．Moneymarketmutualfundsareincludedina. M1butnotM2. b. M1andM2. c. M2butnotM1. d. neitherM1orM2.11．Usethebalancesheetforthefollowingquestion.LastBankofCedarBend Assets Liabilities Reserves $25,000 Deposits $150,000 Loans $125,000Ifthereserverequirementis20percent,thisbanka. has$10,000ofexcessreserves b. needs$10,000moreofreservestomeetitsreserverequirements. c. needs$5,000moreofreservestomeetitsreserverequirements. d. justmeetsitsreserverequirement.12．Arnoldputsmoneyintoanaccount.Oneyearlaterhechecksandseesthathehas5percentmoredollarsandthathismoneywillbuy6percentmoregoods. a. Thenominalinterestratewas11percentandtheinflationratewas5percent. b. Thenominalinterestratewas6percentandtheinflationratewas5percent. c. Thenominalinterestratewas5percentandtheinflationratewas-1percent. d. Noneoftheaboveiscorrect.13．Ifyoursalaryincreasedby6percentandpricesincreasedby2percent,yourrealwageroseby a. 4percent. b. 4.8percent c. 5.8percent d. 8percent14．Domesticsavingmustequalinvestmentin a. bothclosedandopeneconomies. b. closed,butnotopeneconomies. c. open,butnotclosedeconomies. d. neitherclosednoropeneconomies.15．Ifthenominalexchangerateeisforeigncurrencyperdollar,thedomesticpriceisP,andtheforeignpriceisP*,therealexchangerateisdefinedas a. e(P*/P). b. e(P/P*). c. e+P/P. d. e-P/P*.16．Usethe(hypothetical)informationinthefollowingtabletoanswerthenextquestion.CountryCurrencyCurrencyperU.S.DollarU.S.PriceIndexCountryPriceIndexBrazilReal4.00200800JapanYen125.0020050,000MexicoPeso10.002002,000SwedenKrona9.002002,000ThailandBaht45.002008,000Whichcurrency(ies)is(are)morevaluablethanpredictedbythedoctrineofpurchasing-powerparity? a. realandpeso b. yen,krona,andbaht c. yenandkrona d. baht17．Intheopen-economymacroeconomicmodel,thekeydeterminantofnetcapitaloutflowisthe a. nominalexchangerate. b. nominalinterestrate. c. realexchangerate. d. realinterestrate.18．Ifagovernmentincreasesitsbudgetdeficit,theninterestrates a. riseandtherealexchangerateappreciates. b. fallandtherealexchangeratedepreciates. c. riseandtherealexchangeratedepreciates. d. fallandtherealexchangerateappreciates.19．Atradepolicyisagovernmentpolicy a. directedtowardthegoalofimprovingthetradeoffbetweenequityandefficiency. b. thatdirectlyinfluencesthequantityofgoodsandservicesthatacountryimportsorexports. c. directedtowardthegoalofincreasingdomestictrade. d. towardtradeunions.20．IfKenyaexperiencedcapitalflight,thesupplyofKenyanschillingsintheforeign-currencyexchangemarketwouldshift a. left,whichwouldmaketherealexchangerateoftheKenyanschillingappreciate. b. left,whichwouldmaketherealexchangerateoftheKenyanschillingdepreciate. c. right,whichwouldmaketherealexchangerateoftheKenyanschillingappreciate. d. right,whichwouldmaketherealexchangerateoftheKenyanschillingdepreciate.21．Ceterisparibus,asthepricelevelrises,dollarsbecome a. morevaluable,andinterestratesrise. b. morevaluable,andinterestratesfall. c. lessvaluable,andinterestratesrise. d. lessvaluable,andinterestratesfall.22．Whichofthefollowingshiftsaggregatedemandtotheleft? a. Thepricelevelrises. b. Thepricelevelfalls. c. Thedollardepreciates. d. Stockpricesfall.23．Supposetheeconomyisinlong-runequilibrium.Ifthereisasharpincreaseintheminimumwageaswellasanincreaseinpessimismaboutfuturebusinessconditions,thenwewouldexpectthatintheshortrun,realGDPwill a. riseandthepricelevelmightrise,fall,orstaythesame.Inthelongrun,thepricelevelmightrise,fall,orstaythesamebutrealGDPwillbeunaffected. b. fallandthepricelevelmightrise,fall,orstaythesame.Inthelongrun,thepricelevelmightrise,fall,orstaythesamebutrealGDPwillbeunaffected. c. riseandthepricelevelmightrise,fall,orstaythesame.Inthelongrun,thepricelevelmightrise,fall,orstaythesamebutrealGDPwillbelower. d. fallandthepricelevelmightrise,fall,orstaythesame.Inthelongrun,thepricelevelmightrise,fall,orstaythesamebutrealGDPwillbelower.24．Whichofthefollowingstatementsistrue? a. Inthelongrun,outputisdeterminedbytheamountofcapital,labor,andtechnology;theinterestrateadjuststobalancethesupplyanddemandformoney;andthepriceleveladjuststobalancethesupplyanddemandforloanablefunds. b. Inthelongrun,outputisdeterminedbytheamountofcapital,labor,andtechnology;theinterestrateadjuststobalancethesupplyanddemandforloanablefunds;andthepriceleveladjuststobalancethesupplyanddemandformoney. c. Inthelongrun,outputisdeterminedbytheamountofcapital,labor,andtechnology;theinterestrateadjuststobalancethesupplyanddemandforloanablefunds;andthepricelevelisstuck. d. Inthelongrun,outputrespondstotheaggregatedemandforgoodsandservices;theinterestrateadjuststobalancethesupplyanddemandforloanablefunds;andthepriceleveladjuststobalancethesupplyanddemandformoney.25．AnincreaseintheU.S.interestrate a. inducesfirmstoinvestmore. b. induceshouseholdstoincreaseconsumption. c. shiftsmoneydemandtotheright. d. leadstotheappreciationoftheU.S.exchangerate.26．Theeconomyisinlong-runequilibrium.Technologicalchangeshiftsthelong-runaggregatesupplycurve$60billiontotheright.Atthesametime,governmentpurchasesincreaseby$30billion.IftheMPCequals0.8andthecrowding-outeffectis$60billion,wewouldexpectthatinthelong-run, a. bothrealGDPandthepricelevelwouldbehigher. b. bothrealGDPandthepricelevelwouldbelower. c. realGDPwouldbehigherbutthepricelevelwouldbelower. d. realGDPwouldbehigherbutthepricelevelwouldbethesame.27．Forthefollowingquestion,usethediagrambelow:Whichofthefollowingistrue? a. Awaveofoptimismcouldmovetheeconomyfromatob. b. IfaggregatedemandmovesfromAD1toAD2theeconomywillstayatbinboththeshortandlongrun. c. ItispossiblethateitherfiscalormonetarypolicymighthavecausedtheshiftfromAD1toAD2. d. Alloftheabovearecorrect.28．Duringexpansions,automaticstabilizersmakegovernmentexpenditures a. andtaxesfall. b. andtaxesrise. c. rise,andtaxesfall. d. fallandtaxesrise.29．Comparedtothe1970s,theU.S.short-runPhillipscurveinrecentyearshasbeen a. furtherright,asinflationexpectationshaverisen. b. furtherright,asinflationexpectationshavefallen. c. furtherleft,asinflationexpectationshaverisen. d. furtherleft,asinflationexpectationshavefallen.30．Thetheorybywhichpeopleoptimallyuseallavailableinformationwhenforecastingthefutureisknownas a. rationalexpectations. b. perfectexpectations. c. momentumexpectations. d. accommodatingexpectations.二、判斷題(此題包含20小題，每題？分，共？分)31．IfnominalGDPis10,000andrealGDPis8,000theGDPdeflatoris125.32．Althoughgrowthratesacrosscountriesvary,rankingsofcountrybyincomeremainprettymuchthesameovertime.33．Incountrieswherewomenarediscriminatedagainst,policiesthatincreasetheircareerandeducationalopportunitiesarelikelytoincreasethebirthrate.34．Joanusessomeofherincometobuymutualfundshares.AmacroeconomistreferstoJoan'spurchaseasinvestment.35．Historically,stockshaveofferedhigherratesofreturnthanbonds.36．Speculativebubblesmayariseinpartbecausethevalueofthestocktoastockholderdependsonthefinalsaleprice.37．IntheUnitedStates,blacksandwhiteshavesimilarlaborforceparticipationrates,butblackshaveahigherunemploymentrate.38．Sincethe1940sand1950s,thepercentageofU.S.workerswhobelongtounionshasrisenbyaboutone-third.39．TheFederalReservewascreatedin1914afteraseriesofbankfailuresin1907.40．U.S.pricesroseatanaverageannualrateofabout5percentoverthelast60years.41．Acountrywithnoimportsnecessarilyhaszeronetexports.42．Inanopeneconomy,thesupplyofloanablefundscomesfromnationalsaving.43．AnimportquotaimposedbyEgyptwouldreduceEgyptianimports,buthavenoimpactonEgyptianexports.44．Theexplanationsfortheslopesoftheaggregatedemandandaggregatesupplycurvesarethesameastheexplanationsfortheslopeofdemandandsupplycurvesforspecificgoodsandservices.45．Technologicalprogressshiftsthelong-runaggregatesupplycurvetotheright.46．Stagflationwouldresultfromtheaggregatesupplycurveshiftingleft.47．ThemultiplierisfoundasMPC/(1-MPC).48．Themaincriticismofthosewhodoubttheabilityofthegovernmenttorespondinausefulwaytothebusinesscycleisthatthetheorybywhichmoneyandgovernmentexpenditureschangeoutputisflawed.49．Inthelongrun,theinflationratedependsprimarilyonmoneysupplygrowth.50．ThesacrificeratiooftheVolckerdisinflationwaslargerthanpreviousestimateshadpredicted.三、名詞解釋(此題包含5小題，每題？分，共？分)51．catch-upeffect:52．tradedeficit:53．capitalflight:54．depression:55．crowding-outeffect:四、簡答題(此題包含8小題，每題？分，共？分)56．Apuzzle:TheshareofGDPdevotedtoinvestmentwassimilarfortheUnitedStatesandSouthKoreaoverthelast40years.However,SouthKoreahada6percentgrowthrateofaverageannualincome,whiletheUnitedStateshadonlya2percentgrowthrateoverthatlast40years.Howcanthisbeexplained?57．Usingagraphrepresentingthemarketforloanablefunds,showandexplainwhathappenstointerestratesandinvestmentifagovernmentgoesfromadeficittoasurplus.58．WhichofthethreefunctionsofmoneyaremetbyeachofthefollowingassetsintheU.S.economy?a. paperdollar b. preciousmetals c. collectiblessuchasbaseballcards,stamps,andantiques59．Pricesaremanytimeshighertodaythantheywere30yearsago,yetpeopledonotworkalothardernorspendalotless.Howcanthisbe?60．WhatvariablesbesidesrealGDPtendtodeclineduringrecessions?GiventhedefinitionofrealGDP,arguethatdeclinesinthesevariablesaretobeexpected.61．Discusswhateconomistsbelieveisdifferentaboutthelongandshortrun.62．Supposethatthegovernmentspendsmoreonamissiledefenseprogram.Whatdoesthisdotoaggregatedemand?Howisyouansweraffectedbythepresenceofthemultiplier,crowding-out,andinvestment-acceleratoreffects?63．Supposethatconsumersbecomepessimisticaboutthefuturehealthoftheeconomy,andsocutbackontheirconsumptionspending.Whatwillhappentoaggregatedemandandtooutput?WhatmightthepresidentandCongresshavetodotokeepoutputstable?參考答案1.d2.c3.a4.b5.b6.d7.b8.b9.c10.c11.c12.c13.a14.b15.b16.c17.d18.a19.b20.d21.c22.d23.d24.b25.d26.a27.c28.d29.d30.a31.T32.F33.F34.F35.T36.T37.T38.F39.T40.T41.F42.T43.F44.F45.T46.T47.F48.F49.T50.F51.thepropertywherebycontriesthatstartoffpoortendtogrowmorerapidlythancountriesthatstartoffrich.52.anexcessofimportsoverexports.53.alargeandsuddenreductioninthedemandforassetslocatedinacountry.54.asevererecession.55.theoffsetinaggregatedemandthatresultswhenexpansionaryfiscalpolicyraisestheinterestrateandtherebyreducesinvestmentspending.56.Thesolutiontothepuzzleisbasedontheconceptofdiminishingreturnstocapital.Acountrythathasalotofincome,andsoalotofcapital,gainslessbyaddingmorecapitalthandoesacountrythatcurrentlyhaslittlecapital.Itiseasytoenvisionhowacapitalpoorcountrycouldincreasetheiroutputconsiderablywithevenalittlemorecapital.57.Asshowninthegraphbelow,theeconomystartsinequilibriumatpointE0withinterestrater0andequilibriumquantityofsavingandinvestmentatq0.Ifthegovernmentsucceedsinobtainingasurplus,therewillbemorepublicsavingintheeconomyateachinterestrate,andthesupplyofloanablefundscurvewillshiftfromS0toS1.ThenewequilibriumwillbeatE1,withalowerinterestrate,r1andahigherquantityofsavin