《宏观经济学》(双语)A卷及参考答案

.•号学：名姓.•级班业专线题号.•号学：名姓.•级班业专线题号四总分分数评卷人堂寸.•系院《宏观经济学》试卷A注意：请在答题纸上作答，考试时间120分钟，可以翻阅纸质字典，不得携带电子词典及手机iPart1:SingleChoice(40X1z=40/)：1.Macroeconomicsisthestudyof( )： a.marketregulation.： b.moneyandfinancialmarkets.: c.economy-widephenomena..： d.howhouseholdsandfirmsmakedecisionsandhowtheyinteract.月.2.Nationalincomeisdefinedas( )■a.allincomeproducedwithinacountry.■b.theincomereceivedbythenationalgovernment.：c.thetotalincomeearnedbyanation'sresidentsfromtheproductionofgoodsandservices：withinthebordersofthecountry.;d.thetotalincomeearnedbyanation'sresidentsintheproductionofgoodsandservices.：3.Thebestmeasureofacountry7sproductionofgoodsandservicesis( )ia.realGDP.b.realNNP.c.nominalGDP.d.nominalGNP.4.GDPisusedasthebasicmeasureofasociety7seconomicwell-being.Abettermeasureofthe：economicwell-beingofindividualsinsocietyis( )：a.theconsumptioncomponentofGDP.i b.GDPperperson.; ernmentexpendituresperperson.装d.thelevelofbusinessinvestment.：5.Theinflationrateisdefinedasthe( )： a.costofinflation.b.costofborrowing.： c.percentagechange inreal GDP fromthe previous period.i d.percentagechange inthe price levelfromthepreviousperiod.：6.Ifthenominalinterestrateis8%andrateofinflationis2%,therealinterestrateis( )ja.16%,b.10%,c.6%,d.4%.7.Whatisthepurposeofmeasuringtheoveralllevelofpricesintheeconomy?( )： a.toallowconsumerstoknowwhatkindsofpricestoexpectinthefuture： b.toallowthemeasurementofGDPtoallowcomparisonbetweendollarfiguresfromdifferentpointsintimeAlloftheabovearecorrect.ACOLAautomaticallyraisesthewageratewhen( )realGDPincreases.thelaborforceincreases.taxesincrease.theconsumerpriceindexincreases.Acertificateofindebtednessthatspecifiestheobligationsoftheborrowertotheholderiscalleda()a.stock.b.mutualfund.c.bond.d.Alloftheabovearecorrect.Stockindexesare( )reportsinthenewspapersthatreportonthepriceofthestockandearningsofindividualcorporationsovertime.theaverageofagroupofstockprices.measuresoftheriskrelativetotheprofitabilityofcorporations.measuresofthepriceofastockrelativetoitsrisk.IfCongressraisedthetaxoninterestincome,investment( )andsavingwouldincrease.andsavingwoulddecrease.wouldincreaseandsavingwoulddecrease.woulddecreaseandsavingwouldincrease.Anincreaseinthebudgetdeficitshiftsthe( )demandforloanablefundsleft.demandforloanablefundsright.supplyofloanablefundsleft.supplyofloanablefundsright.Whichofthefollowingbeliefswouldmakesomeonelesslikelytoopposegovernmentdeficits?()Thereturnonprivateinvestmentishigherthanthereturnonpublicinvestment.Taxesconsiderablydistortprivatedecisionmaking.Thedemandforloanablefundscurveisverysteep.Alloftheabovewouldmakesomeonelesslikelytoopposegovernmentdeficits.Whichofthefollowingpeopleiscountedasunemployedaccordingtoofficialstatistics?()Nancy,whoisontemporarylayoffGary,whohasretiredandisnotlookingforworkBrian,afull-timestudentwhoisnotlookingforworkAlloftheabovearecorrect.Thenaturalrateofunemploymentis( )zeropercent.therateassociatedwiththehighestpossiblelevelofGDP.createdprimarilybyshort-runfluctuationsinrealGDP.theamountofunemploymentthattheeconomynormallyexperiences.Sectoralshiftsintheeconomy( )：号学：名姓：级班业专：号学：名姓：级班业专：系院createstructuralunemployment.：系院immediatelyreduceunemployment.onnetleaveunemploymentunchanged.increaseunemploymentduetojobsearch.Minimumwagelaws( )probablyreduceteenageemployment.areprobablythemajorcauseofnaturalbablymostadverselyaffectskilledworkers.Alloftheabovearecorrect.AngelaisthenewlyappointedCEOofacompanythatmanufacturescomputerchipsonanassemblyline.Herstaffhastoldherthatgivenproductivitynumbers,theysuspectsomeworkersmaybeshirking.Accordingtoefficiencywagetheory,whatshouldshedo?( )Payallworkersmorethantheequilibriumwagerate.Rewardthosewhoshirkwithhigherwages.Paybelowtheequilibriumwageratetomakeupforthelossfromshirking.Makesurethatworkersaregettingpaidexactlytheequilibriumwagerate.Whichofthefollowingbestillustratestheunitofaccountfunctionofmoney?( )YoulistpricesforcandysoldonyourWebsite,,indollars.YoupayforticketstoaWNBAgamewithdollars.Youkeep$10inyourbackpackforemergencies.Noneoftheaboveiscorrect.M1includes( )savingsdeposits.moneymarketdepositaccounts.currency.Alloftheabovearecorrect.TheFederalOpen-marketCommitteeismadeupof( )5ofthe12presidentsoftheFederalReserveRegionalbanks,andthe7membersoftheBoardofGovernors.the12presidentsoftheFederalReserveRegionalbanks,andtheChairoftheBoardofGovernors.the12presidentsoftheFederalReserveRegionalbanks,andthe7membersoftheBoardofGovernors.7ofthe12presidentsoftheFederalReserveRegionalbanks,andthe5membersoftheBoardofGovernors.Ifbankschoosetoholdmoreexcessreserves,( )requiredreservesinthebankingsystemincrease.themoneymultiplierwillincrease.thediscountratewillincrease.themoneysupplyfalls.TheFedcaninfluenceunemploymentin( )theshortrun,butnotthelongrun.theshortandlongrun.thelongrun,butnottheshortrun.neithertheshortnorlongrun.Whenthepricelevelrises,thenumberofdollarsneededtobuyarepresentativebasketofgoods( )decreases,sothevalueofmoneyrises.decreases,sothevalueofmoneyfalls.increases,sothevalueofmoneyrises.increases,sothevalueofmoneyfalls.Ifvelocityandoutputwerenearlyconstant,( )theinflationratewouldbemuchhigherthanthemoneysupplygrowthrate.theinflationratewouldbemuchlowerthanthemoneysupplygrowthrate.theinflationratewouldbeaboutthesameasthemoneysupplygrowthrate.Anyoftheabovecouldbecorrect,moreinformationisneeded.Ifthemoneysupplygrowthratepermanentlyincreasedfrom10percentto20percentwewouldexpectthatinflationandnominalinterestrateswouldbothincrease( )bymorethan10percentagepoints.by10percentagepoints.butbylessthan10percentagepoints.Noneoftheaboveiscorrect.Shoeleathercostsreferto( )thecostofmorefrequentpricechangesinducedbyhigherinflation.resourcesusedtomaintainlowermoneyholdingswheninflationishigh.thedistortioninresourceallocationcreatedbydistortionsinrelativepricesduetoinflation.thedistortioninincentives,createdbyinflation,bytaxesthatdonotadjustforinflation.Inordertomaintainstableprices,thecentralbankmust( )tightlycontrolthemoneysupply.keepunemploymentlow.sellindexedbonds.Alloftheabovearecorrect.Businesscycles( )areexplainedmostlybyfluctuationsincorporateprofits.nolongerareveryimportantduetogovernmentpolicy.arefluctuationsinrealGDPandrelatedvariablesovertime.Alloftheabovearecorrect.Mosteconomistsbelievethatclassicaleconomictheoryisagooddescriptionoftheworldin( )thelongrun,butnotintheshortrun.theshortrun,butnotinthelongrun.theshortrunandinthelongrun.neithertheshortnorlongrun.AdecreaseinU.S.interestratesleadsto( )anappreciationofthedollarthatleadstosmallerexports.anappreciationofthedollarthatleadstogreaternetexports.adepreciationofthedollarthatleadstosmallernetexports.adepreciationofthedollarthatleadstogreaternetexports.

：号学：名姓：级班业专：系院Thelong-runaggregatesupplycurveshiftsrightif( )：号学：名姓：级班业专：系院Congressraisestheminimumwagesubstantially.unemploymentinsurancebenefitsaremademoregenerous.immigrationfromabroadincreases.Alloftheabovearecorrect.Supposeashiftinaggregatedemandcreatesaneconomiccontraction.Ifpolicymakerscanrespondwithsufficientspeedandprecision,theycanoffsettheinitialshiftbyshiftingaggregate( )a.supplyleft.b.supplyright.c.demandleft.d.demandright.WhichofthefollowinghasbeensuggestedasanimportantcauseoftheGreatDepression?( )adeclineinthemoneysupplyalargedeclineingovernmentexpendituresanincreaseintherelativepriceofoilAlloftheabovearecorrect.Accordingtoliquiditypreferencetheory,whichofthefollowingshiftsthemoneydemandcurvetotheleft?( )adecreaseinthepricelevelanincreaseinthepricelevelanincreaseintheinterestrateBothbandcarecorrect.IfCongresscutsspendingtobalancethefederalbudget,theFedcanacttopreventunemploymentandrecessionwhilemaintainingthebalancedbudgetby( )raisingtaxes.cuttingexpenditures.increasingthemoneysupply.decreasingthemoneysupply.Investmenttaxcreditsaredesignedto( )increaseaggregatedemandintheshortrunandeventuallyincreaselong-runaggregatesupply.increaseaggregatedemandintheshortrun,buteventuallydecreaselong-runaggregatesupply.increaseaggregatedemandintheshortrunandhavenoimpactonaggregatesupply.Noneoftheaboveiscorrect.AccordingtoFriedmanandPhelps,theunemploymentrateisabovethenaturalratewhenactualinflation( )isgreaterthanexpectedinflation.equalsexpectedinflation.islessthanexpectedinflation.ishigh.TherestrictivemonetarypolicyfollowedbytheFedintheearly1980s( )reducedbothunemploymentandinflation.reducedinflationsignificantly,butatthecostofasevererecession.reducedunemploymentsignificantly,butatthecostofhigherinflation.raisedbothunemploymentandinflation.Afavorablesupplyshockwillcausetheshort-runPhillipscurvetoshift( )left,andunemploymenttorise.left,andunemploymenttofall.right,andunemploymenttorise.right,andunemploymenttofall.Part2:Simplyanswerfollowingquestions(4X5'=20')HowwillfollowingeventsinfluencetheGDPofU.S.byexpendituremethod?(1)BoeingCompanysoldaplanetotheU.S.AirForce.(2)BoeingCompanysoldaplanetotheU.S.AirCompany.(3)BoeingCompanysoldaplanetotheFrancAirCompany.(4)BoeingCompanysoldaplanetoMr.Cross.(5)BoeingCompanyproducedaplanewhichwillbesoldinthenexthalfyear.Whocontrolthemoneysupply?Howdoesitcontrol?TrytotelltherelationshipbetweenshortrunPhilipscurveandlongrunPhilipscurve.Whatfactorscancauseunemployment?How?Part3:Calculate(2X10'=20’)Considerfollowingeventsincertaineconomy:Y=5000、G=1000、T=1000、C=250+0.75(Y－T)、I=1000+50R(1)Trytocalculateprivatesaving,publicsavingandnationalsavinginthiseconomyTrytofindtheequilibriuminterestrateSupposeGovernmentpurchaseincreaseto1250,trytocalculateprivatesaving,publicsavingandnationalsavingTrytofindthenewequilibrium2.Supposeinaneconomy,thereare0.76billionadults,and0.48billionofthemareworking,0.04billionofthemarelookingforjob,0.18billionofthemareneitherworkingnorlookingforajob.TrytocalculateLaborforceamountLaborparticipaterateUnemploymentratePart4:Analysisfollowingquestions(2X10'=20')Trytotellthedevelopmentpathofmacroeconomics.(Howdiditappear?Howdiditchange?)TrytousethemacroeconomicsknowledgetoanalyzethecurrenteconomicconditionandtrytoaffordsomemacroeconomicpoliciesinChina,andtrytoanalyzetheirimpactstoeconomy.宏观经济学（双语）A卷参考答案Parti:IC2D3A4B5D6C7C8D9C10B11B12C13C14A15D16D17A18A19A20C21A22D23A24D25C26B27B28A29C30A31A32C33D34A35A36C37A38C39B40BPart2:(1)IncreasesgovernmentpurchasesandthenincreasesGDPIncreasesinvestmentandthenincreasesGDPIncreasesnetexportandthenincreasesGDPIncreasesconsumptionandthenincreaseGDPIncreasesinvestmentandthenincreaseGDPFederalOpenMarketCommitteeconductsmonetarypolicybycontrollingthemoneysupply.Themoneysupplyisthequantityofmoneyavailableintheeconomy.TheprimarywayinwhichtheFedchangesthemoneysupplyisthroughopen-marketoperations.TheFedpurchasesandsellsU.S.governmentbonds.Toincreasethemoneysupply,theFedbuysgovernmentbondsfromthepublic.Todecreasethemoneysupply,theFedsellsgovernmentbondstothepublic.ThePhillipscurveshowstheshort-runcombinationsofunemploymentandinflationthatariseasshiftsintheaggregatedemandcurvemovetheeconomyalongtheshort-runaggregatesupplycurve.ThePhillipscurveseemstoofferpolicymakersamenuofpossibleinflationandunemploymentoutcomes.Asaresult,thelong-runPhillipscurveisverticalatthenaturalrateofunemployment.Monetarypolicycouldbeeffectiveintheshort