中大岭院经原宏观部分期末试题卷A卷

13/1308级岭院经原宏观部分期末试题A卷此试题经“特殊途径”获取，吴老师也不知道。千万不要外传，更不要拿题目问老师，给吴老师知道了，他就不会出同样的题了。大家一定要低调，低调。另外，特别鸣谢樊婧同学无私奉献本试题~大家期末考加油^_^Multiple-choicequestions（30%）Thegoalsofmacroeconomicpolicyinclude:highemploymentlowunemploymentstablepricesgrowingrealGDPalloftheaboveSupposethatinaparticularyear,nominalGDPislessthanrealGDP.Thisimpliesthat:inflationislowinflationishightheyearinquestionpriortothebaseyeartheyearinquestionafterthebaseyeartheanswercannotbedeterminedfromtheinformationgivenThetwoapproachesthateconomistsusetomeasureGDPare:thegoodsflowandinvestmentflowcurrentsurveysandhistoricaldatatheproductflowandspendingflowhouseholdtaxreturnsandcorporatetaxreturnstheproductflowandtheearningsflowWhatmustbedonetoequalizetheflow-of-productandtheearningsorcostapproaches?Intermediategoodsmustbesubtractedfromtheflow-of-productsumProfitsmustbeconsideredaresidualcostImputedrentsmustbeexcludedThedollarvalueofservicesproducedmustbeincludedintheflow-of-productTransferpaymentsbythegovernmentmustbeincludedintheflow-of-costapproachTheMPCistheratioofExtraconsumptiontoextraineExtraconsumptiontoextrasavingExtraconsumptiontototalineTotalconsumptiontototalineBreak-evenconsumptiontobreak-evenineWhichofthefollowingisnotconsideredacategoryofinvestment?Stockandbondpurchases.PurchasesofplantandequipmentPurchasesaddingtoinventoriesResidentialhousingconstructionNoneofaboveWhichofthefollowingbestdescribesthemoney-supplyeffect?Aspricesrise,tightmoneyleadstoadecreaseintotalrealspendingAstheFedinjectsmoremoneyintotheeconomy,pricesincreaseTightmoneycausesrecessionsThegreaterthemoneysupply,thegreaterthegrowthoftheeconomyNoneoftheaboveOnthebasisoftheKeynesianmodelofoutputdetermination,equilibriumgrossdomesticproductisdescribedbyallbutwhichoneofthefollowing?IntersectionofSSschedulewiththeIIscheduleIntersectionoftheconsumption-plus-savingschedulewiththeinvestmentscheduleIntendedinvestmentequalsactualinvestmentMaintainableC+Ispendingequalsproductionexpenses,includingprofitIntersectionoftheC+Ilinewiththe45-degreelineWhichofthefollowingbestdescribestheacceleratorprinciple?Onceaneconomypassesapeak,thedeclinebeesself-perpetuatingAneconomyrecoveringfromatrough,firstgrowsfaster,thenslowerInvestmentspendingisstimulatedbyagrowingeconomy;thisinturnencouragesmoreeconomicgrowthTheaccelerate-principleisrelatedtolargeexternalshockstotheeconomyNoneoftheaboveOnthebasisoftheKeynesianmodelofoutputdeterminationforaclosedeconomy,themultipliercanbeexpressedalgebraicallyas:1/MPC1/MPC–1/MPS1/(1-MPS)1/MPSMPC/MPSWhichofthefollowingisanaccuratestatementaccordingtotheKeynesianmodel?PricesandwagesalwaysrespondquicklytoclearmarketsTheaggregatesupplycurveisverticalabovepotentialGDPChangesinaggregatedemandcanaffectGDP,intheshortrunatleast,ifthereexistunemployedresourcesPolicyhasnoeffectonthelevelofemploymentbecauseitcannotchangethelevelofGDPAlloftheaboveAreductioninlegalrequiredreserveratiowilltendtoReducethemoneysupplyandreducemercialbankloansReducethemoneysupplyandincreasemercialbankloansIncreasethemoneysupplyandincreasemercialbankloansIncreasethemoneysupplyanddecreasemercialbankloansLeavethemoneysupplyunaffectedThepoweroftheFederalReservetoexpandthetotalmoneysupplyisconsiderablyrestrictedif:mercialbankswishtoholdnovaultcashmercialbanksareholdinglargeexcessreservesmercialbanksareholdingjusttherequiredamountofreservesAllmercialbanksaremembersoftheFederalReserveInterestratesarehighRequiredreserveratios:ExistprimarilytoensurethatdepositsaresafeExisttopenalizebanksthatarememberoftheFederalReserveSystemExistprimarilytohelptheFedcontrolthemoneysupplyExistforalloftheabovereasonsExistfornoneoftheabovereasonsIflegalrequiredreservereserveratiosareincreased,thenthereisatendencyfor:ThemoneysupplytodecreaseandmercialbankloanstoincreaseBothmoneysupplyandmercialbankloanstodecreaseThemoneysupplytoincreaseandmercialbankloanstodecreaseBothmoneysupplyandmercialbankloanstoincreaseThemoneysupplytodecreaseandmercialbankloanstoremainunchangedAreductioninreserverequirementsofmemberbankstendstocounterarecessionby:TheissuingandredemptionofgoldcertificatesConsumer-creditcontrolsDiscount-ratepolicyChangesinbankreserverequirementsOpen-marketoperationsTheFederalReserveauthorities’singlemostimportantstabilizingweaponis:TheissuingandredemptionofgoldcertificatesConsumer-creditcontrolsDiscount-ratepolicyChangesinbankreserverequirementsOpen-marketoperationsRaisingthediscountrate,ifeffective,tendsto:ExpendthemoneysupplyandlowerinterestratesExpendthemoneysupplyandraiseinterestratesContractthemoneysupplyandraiseinterestratesContractthemoneysupplyandlowerinterestratesDononeoftheaboveWhichoneofthefollowingbinationsrepresentsthetoolsofmonetarypolicythataremostavailabletotheFederalReserveintheeffectiveexerciseofmonetarypolicy?Discount-ratepolicy,controloverstock-buyingmarginrequirements,andmoralsuasionMoralsuasionandreserve-requirementchangesOpen-marketoperations,reserverequirementchanges,anddiscount-ratechangesDiscount-ratepolicyandreserve-requirementchangesReserve-requirementchangesandselectivecontrolsoverconsumerandmortgagecreditInaMalthusiandevelopmentcontext,greaterrealwageratesArefosteredbylabor-savingdevicesOccurwithgreaterpopulationOccurwithlesslandAreconsistentwithlesslaborperacreAreconsistentwithmorelaborperacreCapital-deepeningcoupledwithsteadyprofitratesandtechnologicalprogressmustresultin:Ahighercapital-outputratioAlowerinterestrateAhigherwagerateAnincreaseinlabor’srelativeshareofGDPCapitaldepreciationincreasesTechnologicalchangecauses:AdropinthereturnoncapitalAdropinthereturnonlaborAreductionintherateofgrowthAdecreaseintherateofcapitalaccumulationArightwardshiftintheproduction-possibilityfrontierAccordingtotheSolowgrowthmodel,capitaldeepeningrefersto:Theprocessbywhichthecapital-laborratioincreaseovertimeTechnologicaladvancesincapitalequipmentovertimeThedeclineineconomicgrowthresultingfromthedisplacementofworkersbycapitalequipmentTheself-perpetuatingcycleofgrowthbetweentechnologicaladvancesandcapitalequipmentNoneoftheaboveThebackwardnesshypothesissuggeststhat:Developingnationscandrawuponthecapital,skills,andtechnologyofmoreadvancednationsToday’sdevelopingeconomiesmaybeabletogrowmorerapidlythanthoseinthepastKuznet’sapproachtoeconomicgrowthmaybethemostaccurateAlltheaboveAandBonlySupposethatgovernmentspendingrises.AssumingthattheeconomyisoperatingatpotentialGDP,thelong-runeffectofthispolicychangeshouldbe:HigherpriceswithnochangeinoutputHigherpriceswithhigheroutputHigherpriceswithloweroutputLowerpriceswithhigheroutputLowerpriceswithnochangeinoutputOkun’sLawsuggeststhateveryreductionof2percentinGDPbelowpotentialGDPcanbeexpectedtobeassociatedwith:A1percentreductioninunemploymentA1percentincreaseininflationAnincreaseinunemploymentof1percentagepointAreductionininflationof1percentagepointNoneoftheaboveStructuralunemploymentisdefinedas:IncessantmovementofpeoplebetweenregionsandjobsorthoroughdifferentstagesofthelifecycleAmismatchbetweenthesupplyofandthedemandforworkersWhentheoveralldemandforlaborislowWhenpeoplearenotlookingforworkNoneoftheaboveAtthenonacceleratinginflationaryrateofunemployment(NAIRU):UnemploymentisaslowasitcanpossiblygetTheunwmploymentrateiszeropercent,orclosetoitInflationisstableandhasnotendencytochangeStructuralunemploymentiszeropercentAlloftheaboveIfinflationwerecausedbyasupply-sidepriceshock,then:RealGDPwouldnecessarilyincreaseItwouldbecostlessiftheeconomywereoperatingatitsfullpotentialRealGDPwouldbeexpectedtofallItcouldbeacceleratedbyasecondaryreductioninaggregatedemandNoneoftheaboveDuringaperiodofhighinflation:BorrowersarebetteroffbecausetheycanpayofftheirloanswithcurrencythatisworthlessBorrowersareworseoffbecausetheyhavetopayofftheirloanswithcurrencythatisworthmoreLendersareworseoffbecausetheycannotfindanyonewhowantsaloanLendersareworseoffbecausetheyarerepaidwithcurrencythatisworthmoreNoneoftheaboveB.Calculation(10%)1.AssumethattheFederalReservebuysa$1000governmentbondfromMS.B,andshedepositsthe$1000inhercheckingaccountatBank1andassumethattheBank