宏观经济学选择题-题集-全

宏观经济学选择题题集全1.Thegoalsofmacroeconomicpolicyinclude:EA)highemploymentB)lowunemploymentC)stablepricesD)growingrealGDPE)alloftheabove2.Supposethatinaparticularyear,nominalGDPislessthanrealGDP.Thisimpliesthat:EA)inflationislowB)inflationishighC)theyearinquestionpriortothebaseyearD)theyearinquestionafterthebaseyearE)theanswercannotbedeterminedfromtheinformationgiven3.ThetwoapproachesthateconomistsusetomeasureGDPare:EA)thegoodsflowandinvestmentflowB)currentsurveysandhistoricaldataC)theproductflowandspendingflowD)householdtaxreturnsandcorporatetaxreturnsE)theproductflowandtheearningsflow4.Whatmustbedonetoequalizetheflow-of-productandtheearningsorcostapproaches?AA)Intermediategoodsmustbesubtractedfromtheflow-of-productsumB)ProfitsmustbeconsideredaresidualcostC)ImputedrentsmustbeexcludedD)Thedollarvalueofservicesproducedmustbeincludedintheflow-of-productE)Transferpaymentsbythegovernmentmustbeincludedintheflow-of-costapproach5.TheMPCistheratioofAA)ExtraconsumptiontoextraincomeB)ExtraconsumptiontoextrasavingC)ExtraconsumptiontototalincomeD)TotalconsumptiontototalincomeE)Break-evenconsumptiontobreak-evenincome6.Whichofthefollowingisnotconsideredacategoryofinvestment?AA)Stockandbondpurchases.B)PurchasesofplantandequipmentC)PurchasesaddingtoinventoriesD)ResidentialhousingconstructionE)Noneofabove7.Whichofthefollowingbestdescribesthemoney-supplyeffect?AA)Aspricesrise,tightmoneyleadstoadecreaseintotalrealspendingB)AstheFedinjectsmoremoneyintotheeconomy,pricesincreaseC)TightmoneycausesrecessionsD)Thegreaterthemoneysupply,thegreaterthegrowthoftheeconomyE)Noneoftheabove8.OnthebasisoftheKeynesianmodelofoutputdetermination,equilibriumgrossdomesticproductisdescribedbyallbutwhichoneofthefollowing?A)IntersectionofSSschedulewiththeIIscheduleB)Intersectionoftheconsumption-plus-savingschedulewiththeinvestmentscheduleC)IntendedinvestmentequalsactualinvestmentD)MaintainableC+Ispendingequalsproductionexpenses,includingprofitE)IntersectionoftheC+Ilinewiththe45-degreeline9.Whichofthefollowingbestdescribestheacceleratorprinciple?CA)Onceaneconomypassesapeak,thedeclinebecomesself-perpetuatingB)Aneconomyrecoveringfromatrough,firstgrowsfaster,thenslowerC)Investmentspendingisstimulatedbyagrowingeconomy;thisinturnencouragesmoreeconomicgrowthD)Theaccelerate-principleisrelatedtolargeexternalshockstotheeconomyE)Noneoftheabove10.OnthebasisoftheKeynesianmodelofoutputdeterminationforaclosedeconomy,themultipliercanbeexpressedalgebraicallyas:A)1/MPCB)1/MPC–1/MPSC)1/(1-MPS)D)1/MPSE)MPC/MPS11.WhichofthefollowingisanaccuratestatementaccordingtotheKeynesianmodel?A)PricesandwagesalwaysrespondquicklytoclearmarketsB)TheaggregatesupplycurveisverticalabovepotentialGDPC)ChangesinaggregatedemandcanaffectGDP,intheshortrunatleast,ifthereexistunemployedresourcesD)PolicyhasnoeffectonthelevelofemploymentbecauseitcannotchangethelevelofGDPE)Alloftheabove12.AreductioninlegalrequiredreserveratiowilltendtoA)ReducethemoneysupplyandreducecommercialbankloansB)ReducethemoneysupplyandincreasecommercialbankloansC)IncreasethemoneysupplyandincreasecommercialbankloansD)IncreasethemoneysupplyanddecreasecommercialbankloansE)Leavethemoneysupplyunaffected13.ThepoweroftheFederalReservetoexpandthetotalmoneysupplyisconsiderablyrestrictedif:A)CommercialbankswishtoholdnovaultcashB)CommercialbanksareholdinglargeexcessreservesC)CommercialbanksareholdingjusttherequiredamountofreservesD)AllCommercialbanksaremembersoftheFederalReserveE)Interestratesarehigh14.Requiredreserveratios:A)ExistprimarilytoensurethatdepositsaresafeB)ExisttopenalizebanksthatarememberoftheFederalReserveSystemC)ExistprimarilytohelptheFedcontrolthemoneysupplyD)ExistforalloftheabovereasonsE)Existfornoneoftheabovereasons15.Iflegalrequiredreserveratiosareincreased,thenthereisatendencyfor:A)ThemoneysupplytodecreaseandcommercialbankloanstoincreaseB)BothmoneysupplyandcommercialbankloanstodecreaseC)ThemoneysupplytoincreaseandcommercialbankloanstodecreaseD)BothmoneysupplyandcommercialbankloanstoincreaseE)Themoneysupplytodecreaseandcommercialbankloanstoremainunchanged16.Areductioninreserverequirementsofmemberbankstendstocounterarecessionby:A)TheissuingandredemptionofgoldcertificatesB)Consumer-creditcontrolsC)Discount-ratepolicyD)ChangesinbankreserverequirementsE)Open-marketoperations17.TheFederalReserveauthorities’singlemostimportantstabilizingweaponis:A)TheissuingandredemptionofgoldcertificatesB)Consumer-creditcontrolsC)Discount-ratepolicyD)ChangesinbankreserverequirementsE)Open-marketoperations18.Raisingthediscountrate,ifeffective,tendsto:A)ExpendthemoneysupplyandlowerinterestratesB)ExpendthemoneysupplyandraiseinterestratesC)ContractthemoneysupplyandraiseinterestratesD)ContractthemoneysupplyandlowerinterestratesE)Dononeoftheabove19.WhichoneofthefollowingcombinationsrepresentsthetoolsofmonetarypolicythataremostavailabletotheFederalReserveintheeffectiveexerciseofmonetarypolicy?A)Discount-ratepolicy,controloverstock-buyingmarginrequirements,andmoralsuasionB)Moralsuasionandreserve-requirementchangesC)Open-marketoperations,reserverequirementchanges,anddiscount-ratechangesD)Discount-ratepolicyandreserve-requirementchangesE)Reserve-requirementchangesandselectivecontrolsoverconsumerandmortgagecredit20.InaMalthusiandevelopmentcontext,greaterrealwageratesA)Arefosteredbylabor-savingdevicesB)OccurwithgreaterpopulationC)OccurwithlesslandD)AreconsistentwithlesslaborperacreE)Areconsistentwithmorelaborperacre21.Capital-deepeningcoupledwithsteadyprofitratesandtechnologicalprogressmustresultin:A)Ahighercapital-outputratioB)AlowerinterestrateC)AhigherwagerateD)Anincreaseinlabor’srelativeshareofGDPE)Capitaldepreciationincreases22.Technologicalchangecauses:A)AdropinthereturnoncapitalB)AdropinthereturnonlaborC)AreductionintherateofgrowthD)AdecreaseintherateofcapitalaccumulationE)Arightwardshiftintheproduction-possibilityfrontier23.AccordingtotheSolowgrowthmodel,capitaldeepeningrefersto:A)Theprocessbywhichthecapital-laborratioincreaseovertimeB)TechnologicaladvancesincapitalequipmentovertimeC)ThedeclineineconomicgrowthresultingfromthedisplacementofworkersbycapitalequipmentD)Theself-perpetuatingcycleofgrowthbetweentechnologicaladvancesandcapitalequipmentE)Noneoftheabove24.Thebackwardnesshypothesissuggeststhat:A)Developingnationscandrawuponthecapital,skills,andtechnologyofmoreadvancednationsB)Today’sdevelopingeconomiesmaybeabletogrowmorerapidlythanthoseinthepastC)Kuznet’sapproachtoeconomicgrowthmaybethemostaccurateD)AlltheaboveE)AandBonly25.Supposethatgovernmentspendingrises.AssumingthattheeconomyisoperatingatpotentialGDP,thelong-runeffectofthispolicychangeshouldbe:A)HigherpriceswithnochangeinoutputB)HigherpriceswithhigheroutputC)HigherpriceswithloweroutputD)LowerpriceswithhigheroutputE)Lowerpriceswithnochangeinoutput26.Okun’sLawsuggeststhateveryreductionof2percentinGDPbelowpotentialGDPcanbeexpectedtobeassociatedwith:A)A1percentreductioninunemploymentB)A1percentincreaseininflationC)Anincreaseinunemploymentof1percentagepointD)Areductionininflationof1percentagepointE)Noneoftheabove27.Structuralunemploymentisdefinedas:A)IncessantmovementofpeoplebetweenregionsandjobsorthoroughdifferentstagesofthelifecycleB)AmismatchbetweenthesupplyofandthedemandforworkersC)WhentheoveralldemandforlaborislowD)WhenpeoplearenotlookingforworkE)Noneoftheabove28.Atthenon-acceleratinginflationaryrateofunemployment(NAIRU):A)UnemploymentisaslowasitcanpossiblygetB)Theunemploymentrateiszeropercent,orclosetoitC)InflationisstableandhasnotendencytochangeD)StructuralunemploymentiszeropercentE)Alloftheabove29.Ifinflationwerecausedbyasupply-sidepriceshock,then:A)RealGDPwouldnecessarilyincreaseB)ItwouldbecostlessiftheeconomywereoperatingatitsfullpotentialC)RealGDPwouldbeexpectedtofallD)ItcouldbeacceleratedbyasecondaryreductioninaggregatedemandE)Noneoftheabove30.Duringaperiodofhighinflation:A)BorrowersarebetteroffbecausetheycanpayofftheirloanswithcurrencythatisworthlessB)BorrowersareworseoffbecausetheyhavetopayofftheirloanswithcurrencythatisworthmoreC)LendersareworseoffbecausetheycannotfindanyonewhowantsaloanD)LendersareworseoffbecausetheyarerepaidwithcurrencythatisworthmoreE)Noneoftheabove-------------------------------------------------------------------------------------------------------------------------------B.Calculation(10%)1.AssumethattheFederalReservebuysa$1000governmentbondfromMS.B,andshedepositsthe$1000inhercheckingaccountatBank1andassumethattheBank1keepsareserverequirementof10percentandotherBanksdothesame,nocashreserveseverleakedoutofthebankingsystem.Whatisthetotalmoneycreation?Whatisthemoney-supplymultiplierinthiscase?2.Thepriceindexwere100for1929and75for1933,andnominalGDPwere$104billionfor1929and$56billionfor1933.Ifwith1933asabaseof1,pleasecalculate1929’spriceindexandthevalueof1929’srealGDPintermsof1933prices.C.Shortanswerquestions1.Explainthereasonsoftheaggregatedemandcurveslopesdownward.(10%)2.Whatarethedifferencesbetweenthegovernmentexpendituremultiplierandthetaxmultiplier?(10%)D.Essayquestions(30%)1.Describethemonetarytransmissionmechanismandusesomefigurestoillustratetheeffectsofamonetaryexpansionuponeconomicactivityinthemoneymarket,thedemandforinvestment,andthedeterminationofaggregatedemandandGDP.(15%)2.UsesomefigurestoExplainthePhillipsCurvefromshortruntolongrun.(15%)-------------------------------------------------------------------------------------------------------------------------------l第二部分1.WhichofthefollowingwouldNOTbeincludedintheaggregatedemandofaneconomy?CA)Vacationspurchasedbyconsumers.B)Teachershiredbytheschoolboard.C)Allarepartofaggregatedemand.D)Tractorsboughtbybusinesses.E)Tankspurchasedbythearmy.2.Macroeconomicpolicyisgenerallyaimedtowardslowunemploymentanddeflation.AA)TrueB)False3.The“doublecounting”problemoccurswhenintermediategoodsareincludedinGDP.AA)TrueB)False4.ThomasMalthuswasincorrectinhistheoriesbecausehefailedtorecognizethefactthatthelawofdiminishingreturnsisashort-runconcept.A)TrueB)False5.RealGDPisthetotalvalueofgoodsandservicesproducedbyaneconomyin1yearmeasuredatcurrentprices.Ba)Trueb)False6.InflationisnotcapturedbyachangeintheCPIunlessthepricesofeverycomponentofthedefiningmarketbasketincreaseB.a)Trueb)False7.Animportantdifferencebetweenpersonalincomeandpersonaldisposableincomeconsistof:Aa)Personalincometaxes.b)Personalsavings.c)Dividends.d)Consumptiveexpenditures.e)Investmentincome.8.IntheUnitedStates,monetarypolicyisregulatedby:a)TheFederalReserve.b)TheTreasuryDepartment.c)BothCongressandthePresident.d)Congress.e)Noneoftheabove.9.RealGDPiscalculatedby:Ea)MultiplynominalGDPbytheGDPdeflator.b)DividingnominalGDPbytheGDPdeflator.c)Evaluatingcurrentoutputatbaseyearprices.d)Noneoftheabove.e)BothBandC.10.Nationalincomeorproductmeans:Ba)theincomeofagovernmentoveranintervaloftime.b)allpaymentsreceivedbythepeopleofacountryoveranintervaloftime.c)thetotalamountofmoneyinaneconomy.d)alltheabove.11.GovernmentInterventionisnecessarytocontrolbreakdownsinthemarketmechanism.a)Trueb)False12.Whichofthefollowingisanexampleofanexternalvariable?a)Theunemploymentrate.b)Theforeigntradedeficit.c)TariffsonJapanesecars.d)TheOPEC-specifiedpriceofoil.e)Alloftheabove.13.Ifthereareonlytwoindividualsinacommunity,theirMPCsare1/2and5/6,thenforanyincreaseincommunityincomethatisdistributedequallybetweenthetwoindividuals:Ca)thecommunity’sMPCisindeterminablefromthesedata.b)thecommunity’sMPCis3/4.c)thecommunity’sMPCis2/3.d)thecommunitiesMPCis5/12.e)noneoftheabove.14.Ifthemarginalpropensitytoconsumeofafamilyis0.9,thefamilyalwaysspends90percentofitsincome.Ba)True.b)False.15.Saving,likeinvestment,dependsuponhighlyuncertainfactors.a)True.b)False.16.Astraight-lineconsumptionfunctioncuttinga45-degreelinefromabovewouldmeanthat:Aa)Asincomeincreases,savingincreases.b)TheMPCisgreaterthantheMPS.c)Consumptionincreaseasincomedecreases.d)Atthebreak-evenpoint,savingispositive.e)Aspricesincrease,consumptiondecreases.17.Higherinterestrateswillnecessarilydecreaseinvestmentspending.Aa)Trueb)False18.Totalsavingsareexactlyzero:Da)WhereMPC-45degrees.b)WhentheMPCequals0.c)Whentotalconsumptionequalstotalsaving.d)Atthebreak-evenpoint.e)WhereMPSequalsMPC.19.ThetightmonetarypolicyintheUnitedStatesfrom1979to1982decreasedinterestratesandincreasedaggregatedemand.Aa)Trueb)False20.TheGDPdeflatorincludesthepricesofmoregoodsthaneithertheCPIorthePPI.Aa)Trueb)False21.Thoseareasaroundtheworldwiththehighestpopulationdensitieshavelowerlivingstandards.Ba)Trueb)False22.IfyourMPCisalways0.9,andyourbreak-evenpointis$10,000,thenwith$8,000ofdisposableincomeyourconsumptionwillbeexactly:EA)indeterminablefromtheinformationgivenB)$8,200C)$10,000D)$8,000E)$7,200-------------------------------------------------------------------------------------------------------------------------------l第三部分1.Inflationismeasured:BA.UsingtheleveloftheconsumerpriceindexB.AsthepercentagechangeintheconsumerpriceindexC.UsingthelevelofrealGDPD.AsthepercentagechangeinrealGDP2duringarecession,AInterestratesdecreaseBHouseholdsdecreasespendingondurablegoodsCThehouseholdsectordecreasesspendingsubstantiallyDFirmsincreasetheamountofborrowing4ThefederalbudgetdeficitcanbereducedbyARaisingtaxesBRaisinggovernmentspendingCRaisingtransferpaymentsDLowerinterestrates5WhichofthefollowingisNOToneofthekeyservicesthatareprovidedbythefinancialsystem?ADecreasingtaxesBRisksharingCLiquidityDInformation6PotentialGDPdefinedasCAThemaximumofGDPthattheeconomycanproduceBTheamountofGDPproducedifthereisnofrictionalunemploymentCThelevelofGDPattainedwhenallfirmsareproducingatcapacityDTheamountofGDPproducedifthereisnostructuralunemployment9WhichofthefollowingpoliciesisthemostdirectwaytoenhancehumancapitalintheeconomyAIncreasedvaccinationsagainstinfectiousdiseasesBPoliticalreformtodecreasecorruptionCStrongerlawstoprotectpropertyrightsDRelaxationofregulationsthatlimitforeigndirectinvestment10Whichofthefollowingisareasonwhysomelowincomecountriesmightexperienceeconomicgrowth?AThecountryhasenduredextendedperiodsofwarBThecountryfailstoenforcearuleoflawCThecountrysuffersfrompoorhealthinfrastructuresDThecountryhasahighrateofsavingsinvestment12.endogenousgrowththeoryAStatesthattheratetechnologicalchangeisdeterminedoutsidetheworkingofthemarketsystemBDoesnotadequatelyexplainthefactorsthatdetermineproductivity.CStatesthattherateoftechnologicalchangeiscausedbyeconomicincentives.DStatesthattherateoftechnologicalchangeisunaffectedbyeconomicincentives.16InvestmentspendingwillincreasewhenATheinterestraterisesBThecorporateincometaxincreasesCBusinesscashflowincreasesDFirmsbecomemorepessimisticaboutearningfutureprofits17TheslopeoftheconsumptionfunctionisequaltoAThechangeinconsumptiondividedbythechangeindisposableincomeBThechangeinconsumptiondividedbythechangeinpersonalincomeCThechangeindisposableincomedividedbythechangeinconsumptionDThechangeinnationalincomedividedbythechangeinconsumption18IncreaseinthepricelevelwillALowerconsumptionbecausegoodsandservicesarelessaffordableBRaiseconsumptionbecausesomegoodsandservicesaremoreaffordableCRaiseconsumptionbecauserealwealthincreasesDLowerconsumptionbecauserealwealthdecreases20accordingtotherealbusinesscyclemodelAincreasesinaggregatedemandraisegdpBincreasesinaggregatedemandlowergdpCincreasesinaggregatedemanddonotaffectgdpDincreasesinaggregatedemandlowerthepricelevel21whichofthefollowingmodelsreliesonemphasizingtheimportanc