Chapter-11-宏观经济学原理-弗兰克版-题库.docx

Chapter 11Student: _1.The assumption that firms meet the demand for their products at preset prices is the key assumption upon which _ is built.A.the basic Keynesian modelB.Okuns LawC.the supply and demand modelD.quantity equation for money2.The basic Keynesian model is built on the key assumption that:A.menu costs are not significant.B.firms meet the demand for their products at preset prices.C.firms price their products so as to see a preset quantity of output.D.prices are prevented from changing frequently by government regulations.3.Suppose that the owner of a local ice cream store, knowing that demand for ice cream is higher when the weather is warmer, always charges a price in cents for a scoop of ice cream that is equal to two times the current outdoor temperature, measured in Fahrenheit (so that if it is 90 degrees outside, the ice cream is $1.80 per scoop). This type of behavior is _.A.exactly the type of behavior that Keynes believed most firms exhibit.B.known as meeting demand.C.inconsistent with the key assumption upon which the basic Keynesian model is built.D.free from menu costs.4.In the Keynesian model, it is assumed that, when demand for a firms product changes, the firm:A.changes prices to meet the demand.B.changes production levels to meet the demand.C.changes prices and production levels to meet demand.D.changes prices, but holds production levels constant, to meet the demand.5.The decision about whether to change prices frequently or infrequently is an application of the:A.principle of comparative advantage.B.scarcity principle.C.principle of increasing opportunity cost.D.cost-benefit principle.6.Menu costs are the costs of:A.running a restaurant.B.changing prices.C.increasing aggregate demand.D.changing production.7.Firms do not change prices frequently because:A.there are legal prohibitions against doing so.B.it is easier to change the quantity of capital used in production.C.it is costly to do so.D.customers will refuse to patronize firms that change prices frequently.8.Planned aggregate expenditure is total:A.value added in the economy.B.planned spending on final goods and services.C.income of households, businesses, governments, and foreigners.D.revenue from the sale of goods and services.9.The four components of planned aggregate expenditure are:A.spending on domestic goods, domestic services, foreign goods, and foreign services.B.spending on durable goods, inventory investment, government debt, and net exports.C.consumption, planned investment, government transfers, and net interest.D.consumption, planned investment, government purchases, and net exports10.All of the following would be included in planned aggregate expenditure except:A.spending on consumer durables.B.planned changes in inventories.C.sales of domestically produced goods to foreigners.D.interest paid on the government debt.11.All of the following would be included in planned aggregate expenditure except:A.purchases of services provided by government employees.B.planned changes in inventories.C.sales to foreigners of domestically-produced goods.D.social security payments.12.Planned investment may differ from actual investment because of:A.changes in government purchases and net exports.B.the marginal propensity to consume.C.unplanned changes in inventories.D.fluctuations in preset prices13.If firms sell less than expected, actual investment increases because _, which is counted as investment.A.the unsold goods are added to inventoryB.the government buys the unsold goodsC.the unsold goods are distributed to poor householdsD.households buy the unsold goods are bargain prices14.In the basic Keynesian model all of the following are true except:A.planned consumption always equals actual consumption.B.planned investment always equals actual investment.C.planned government spending always equals actual government spending.D.planned net exports always equal actual net exports.15.Daves Mirror Company expects to sell $1,000,000 worth of mirrors and to produce $1,250,000 worth of mirrors in the coming year. The company purchases $300,000 worth of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Daves Mirror Company equals _ and planned investment equals _.A.$250,000; $150,000B.$300,000; $200,000C.$550,000; $450,000D.$650,000; $550,00016.If firms sell more output than expected, planned investment:A.is greater than actual investment.B.is less than actual investment.C.equals actual investment.D.equals zero.17.If firms sell less output than expected, planned investment:A.is greater than actual investment.B.is less than actual investment.C.equals actual investment.D.equals zero.18.Unplanned inventory investment equals zero when:A.planned investment is greater than actual investment.B.planned investment is less than actual investment.C.planned investment equals actual investment.D.expected sales are greater than actual sales.19.When actual investment is greater than planned investment:A.firms sold less output than expected.B.firms sold more output than expected.C.the quantity of output sold is the amount the firm expected to sell.D.the economy produces the short-run equilibrium output.20.When actual investment is less than planned investment:A.firms sold less output than expected.B.firms sold more output than expected.C.the quantity of output sold is the amount the firm expected to sell.D.the economy produces short-run equilibrium output.21.Planned aggregate expenditure (PAE) equals:A.C +Ip +G +NX.B.Cp +I +G +NX.C.C +I +Gp +NX.D.C +I +G +NXp.22.C +Ip +G +NX equals:A.planned aggregate expenditure.B.potential GDP.C.the output gap.D.the income-expenditure multiplier.23.The largest component of planned aggregate expenditure is:A.consumption.B.investment.C.government purchases.D.exports.24.The consumption function is relationship between consumption and:A.planned aggregate expenditure.B.total spending.C.investment.D.disposable income.25.In the Keynesian model, consumption depends on:A.whether the government has a budget surplus or deficit.B.potential output.C.the natural rate of unemployment.D.disposable income.26.The two parts of the Keynesian consumption function are consumption that depends on _ and consumption that depends on _.A.disposable income; factors other than disposable incomeB.planned spending; unplanned spendingC.real income; nominal incomeD.money; wealth27.The slope of the consumption function:A.is vertical.B.is horizontal.C.equals 1.D.equals the marginal propensity to consume.28.The vertical intercept of the consumption function equals _ and the slope equals _.A.the mpc; autonomous consumptionB.autonomous consumption; the mpcC.the unplanned component of consumption; the planned component of consumptionD.the planned component of consumption; the unplanned component of consumption29.As disposable income increases, consumption:A.increases.B.decreases.C.may either increase or decrease depending on the wealth effect.D.may either increase or decrease depending on the mpc.30.As disposable income decreases, consumption:A.increases.B.decreases.C.may either increase or decrease depending on the mpc.D.may either increase or decrease depending on the wealth effect.31.The tendency of changes in asset prices to affect spending on consumption goods is called the _ effect.A.incomeB.substitutionC.wealthD.multiplier32.Historically speaking, a one-dollar decrease in household wealth will cause consumer spending to fall by:A.$0.03 to $0.07.B.$0.30 to $0.70.C.$3.00 to $7.00.D.$30.00 to $70.00.33.Suppose the stock market crashed, wiping out $5 trillion of household wealth. Consistent with economic models based on historical trends, consumption spending might fall by as much as, but probably not more than:A.$35 billion.B.$200 billion.C.$350 billion.D.$2 trillion.34.Changes in autonomous consumption could be the result of:A.changes in disposable income.B.changes in inflation.C.changes in the mpc.D.changes in housing prices.35.A decrease in stock prices alters the consumption function by:A.increasing the slope.B.decreasing the slope.C.increasing the vertical intercept.D.decreasing the vertical intercept.36.When housing prices decrease, household wealth _, and consumption _.A.increases; increasesB.increases; decreasesC.decreases; decreasesD.decreases; increases37.The marginal propensity to consume (mpc) is the:A.amount by which disposable income increases when consumption increases by $1.B.amount by which consumption increases when disposable income increases by $1.C.percentage by which consumption increases when disposable income increases by 1 percent.D.percentage by which disposable income increases when consumption increases by 1 percent.38.If consumption increases by $9 when disposable income increases by $10, the marginal propensity to consume (mpc) equals:A.0.1.B.0.9.C.1.0.D.9.0.39.If the marginal propensity to consume is 0.75, then a $100 increase in disposable income leads to a _ increase in consumption.A.$13.33B.$25C.$75D.$13340.Data on after-tax income and consumption spending for the Adam Smith family are given below:Based on these data, the Adam Smith family has a marginal propensity to consume equal to:A.0.9.B.0.8.C.0.75.D.0.6.41.The portion of planned aggregate expenditure that is independent of output is called _ expenditure.A.potentialB.plannedC.actualD.autonomous42.Autonomous expenditure is the portion of planned aggregate expenditure that:A.equals aggregate output.B.equals planned spending.C.equals induced expenditure.D.is independent of output.43.Induced expenditure is the portion of planned aggregate expenditure that:A.equals aggregate output.B.equals planned spending.C.equals autonomous expenditure.D.depends on output.44.The two parts of planned aggregate expenditure are _ expenditures and _ expenditures.A.real; nominalB.inflated; deflatedC.autonomous; inducedD.positive; normative45.When real output increases, planned aggregate expenditures increase because:A.autonomous expenditures increase.B.autonomous expenditures decrease.C.induced expenditures increase.D.induced expenditures decrease.46.When real output decreases, planned aggregate expenditures decrease because:A.autonomous expenditures increase.B.autonomous expenditures decrease.C.induced expenditures increase.D.induced expenditures decrease.47.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Induced expenditure equals:A.0.25Y.B.320 + 0.25Y.C.0.75Y.D.290 + 0.75Y.48.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Autonomous expenditure equals:A.320.B.320 + 0.25Y.C.290.D.290 + 0.75Y.49.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Planned aggregate expenditure equals:A.290 + 0.25Y.B.320 + 0.25Y.C.320 + 0.75Y.D.290 + 0.75Y.50.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. The slope of the expenditure line is:A.0.25.B.0.75.C.290.D.320.51.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. The vertical intercept of the expenditure line is:A.0.25.B.0.75.C.290.D.320.52.In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. Induced expenditure equals:A.0.20Y.B.990 + 0.20Y.C.0.80Y.D.900 + 0.80Y.53.In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. Autonomous expenditure equals:A.990.B.940.C.900.D.890.54.In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. Planned aggregate expenditure equals:A.990 + 0.20Y.B.900 + 0.80Y.C.940 + 0.80Y.D.990 + 0.80Y.55.In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. The slope of the expenditure line is:A.0.20.B.0.80.C.0.90.D.0.99.56.In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. The vertical intercept of the expenditure line is:A.890.B.900.C.940.D.990.57.Short-run equilibrium output is the level of output at which actual output:A.equals potential output.B.maximizes firm profits.C.equals real GDP per capita.D.equals planned aggregate expenditure.58.When prices are predetermined, the level of output that equals planned aggregate expenditure is called _ output.A.the natural rate ofB.potentialC.short-run equilibriumD.induced59.In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Short-run equilibrium output in this economy equals:A.1,000.B.1,160.C.1,280.D.1,440.60.Data on output and planned aggregate expenditure in Macroland are given below.Based on these data, the short-run equilibrium level of output is:A.2,000.B.3,200.C.4,100.D.5,000.61.In the short run, with predetermined prices, when output is greater than planned aggregate expenditures:A.potential output is greater than short-run equilibrium output.B.potential output is less than short-run equilibrium output.C.planned investment is less than actual investment.D.planned investment is greater than actual investment.62.In the short run, with predetermined prices, when output is less than planned aggregate expenditure:A.potential output is greater than short-run equilibrium output.B.potential output is less than short-run equilibrium output.C.planned investment is less than actual investment.D.planned investment is greater than actual investment.63.In the short run, with predetermined prices, when output is greater than planned aggregate expenditure, firms will:A.reduce production.B.increase production.C.increase planned aggregate expen